Adecoagro SA has reported its financial results for the first quarter of 2025, highlighting a 27.5% increase in gross sales, which rose to $323.7 million from $253.8 million in the same period of the previous year. However, the company experienced a significant decline in its adjusted EBITDA, which fell by 60.1% to $35.9 million, compared to $90.1 million in the first quarter of 2024. The adjusted EBITDA margin also saw a notable decrease, dropping from 36.0% to 11.3%. In terms of net income, Adecoagro reported an adjusted net loss of $13.5 million, a reversal from an adjusted net income of $23.3 million in the prior year. Distribution to shareholders decreased by 52.1% to $10.2 million from $21.3 million. The Sugar, Ethanol & Energy business segment reported a 42.4% year-over-year decline in adjusted EBITDA, reaching $29.9 million. Despite higher net sales from increased ethanol volume and prices, the segment's profitability was impacted negatively. The company's net debt increased by 6.3% to $679.5 million from $639.2 million, and the net debt to LTM adjusted EBITDA ratio rose to 1.7x from 1.3x. The document did not include forward-looking guidance or outlook for future performance.