Sucro Limited (SUGR) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to Securo Limited's second quarter 2026 earnings conference call. Today's call is being recorded. Joining us are Jonathan Taylor, Chief Executive Officer, and Stefano D' Aniello, Chief Financial Officer. At this time, I'll turn the call over to Jonathan Taylor. Jonathan, please go ahead. Thanks, Operator, and good morning, everyone. Before we begin, I'd like to remind listeners that management's comments today may include forward-looking statements. Please refer to our filings for a full discussion of the associated risk and uncertainties. Actual results could differ materially from those described in these forward-looking statements. In addition, this presentation refers to a number of non-IFRS financial measures. Reference should be made to our recent financial filings for the composition and calculation of these measures. Listeners should also note that all figures are in US dollars. During our last call, we described the business and the US sugar market as approaching an important inflection point. Although market conditions remained challenging during the second quarter, we believe the underlying trends are moving in the right direction, despite continued pricing pressure. Our operations delivered another quarter of significant progress. Most notably, our refineries delivered nearly 100,000 metric tons of sugar. representing another quarterly record. Our new Hamilton refinery is performing well and is expected to generate record sales and profitability through 2026. We are managing through the expected early commissioning challenges at University Park and expect significant improvements through the second half of 2026. And free cash flow saw a strong recovery to bring us back to positive year to date. Our refinery volumes are ...