A

ADR
American Depositary Receipt. ADR is a negotiable certificate issued by a U.S. bank representing a specified number of shares in a foreign stock traded on a U.S. exchange.

Anhydrous Fuel Ethanol
Used as a petrol additive.

Anhydrous Industrial Ethanol
Used in cleaning product formulas, by the chemical industry and for the manufacture of paints and varnishes.

Annual General Meeting (AGM)
A mandatory, public yearly meeting of the general membership of an organization.

ANP
Petroleum National Agency of Brazil.

ATR/ha  
Combined produtivicty index of the sugarcane fields, mesured by kilograms of TRS per hectare.

B

Base Oil
Raw material used to elaborate mainly lubricants and other products.

BDR
Brazilian Depositary Receipt. BDR is a certificate representing shares of foreign companies traded in Brazil.

Brent
A type of sweet crude oil that is used as a benchmark for the prices of other crude oils.

C

CBLC
Brazilian Settlement and Custody Company.

CVM
Securities and Exchange Commission of Brazil. It assures the efficiency and functionality of the market, protects investors, and provides access to appropriate information.

Cogeneration
Power generation from sugarcane biomass.

Common Shares
Holders of common shares are typically entlited to one vote per share.

Consecana 
Sugarcane payment system by sucrose content, with voluntary participation, with technical criteria for evaluating the quality of the sugarcane delivered by agricultural producers to industries, which determines the price of this raw material.

D

E

Equivalent gas volumes 
Otto-cycle volumes adjusted by the calorific power of the Ethanol.

Extraordinary General Meeting (EGM)
EGM is usually called on a short notice and deals with an urgent matter.

F

FMV
“Fair Market Value”

Follow on
It is an issuance of stock subsequent to the company’s initial public offering.

Free Float
The portion of its shares that can be publicly traded.

G

H

Hydrous Ethanol Fuel
Direct fuel supply for vehicle engines.

Brazilian Standard Hydrous Ethanol
Intended for domestic use and for manufacturing ether.

Japanese Standard Hydrous Ethanol
Intended for the same uses as the Brazilian Standard, but this is a higher quality ethanol, more suited for export.

Korean Standard Hydrous Ethanol
Intended for the same uses as the Brazilian Standard, but this is an intermediate quality ethanol, which is also much in demand for export.

Hydrous Ethanol Hidratado Neutro
Used in the manufacture of alcoholic beverages, this product is obtained by means of a neutral mixture of ethanol and demineralized water, which yields a product of lower alcoholic content than the neutral hydrous ethanol.

I

IFRS
International Financing Reporting Standards. IFRS is a set of accounting standards stating how particular types of transactions and other events should be reported in financial statements.

IPO
Initial Public Offering. Its the very first sale of stock issued by a company to the public.

J

K

L

M

Market Share
It represents the percentage of an industry or market’s total sales that is earned by a particular company over a specified time period.

N

O

Otto-cycle volumes 
Sum of gasoline and ethanol volumes.

P

Preferred Shares
Generally have a dividend that must be paid out before dividends to common shareholders, and the shares usually do not carry voting rights.

Q

R

S

SEC
Securities and Exchange Commission of the United States.

Sindicom
National Syndicate of Fuel and Lubricant Distributors of Brazil.

T

Tag-along
It gives the minority shareholder the right to join the transaction and sell his minority stake in the company.

TCH 
Produtivicty index of the sugarcane fields, mesured by Tonnes of Cane per Hectare.

TRS
“Total Sugar Recoverable”. Produtivicty index of the sugarcane fields, mesured by kilograms of TRS per tons of sugarcane.

U

V

VHP Sugar 
“Very High Polarizated”. Designated for the foreign market, its bulk composition enables customers to transform it into different types of consumable sugars.

W

X

Y

Z