MIAMI, April 11, 2013 /PRNewswire/ -- Latin Trade was pleased to announce its selection of Marcelo Martins, Chief Financial Officer of Brazil's Cosan, as its recipient of the 2013 CFO of the Year – Brazil, in Sao Paulo.
Martins was instrumental in guiding the finances of Cosan - a public company involved in the production of bioethanol, sugar, and energy – which saw a substantial revenue increase in the past year.
In the final quarter of 2012, compared with the final one of 2011, Cosan saw a net operating revenue growth of 33.1 percent, resulting in $4.3billion of net revenues in that quarter, with the EBITDA more than doubling year over year to $515 million.
The year was a good one for Cosan and Martins. In May the company acquired a 60 percent stake in Brazil's Comgas, a Brazilian gas distribution company, for $1.8 billion. The acquisition was led by Martins, who sought to acquire the share in an effort to diversify the company's dependence on the volatile sugar and ethanol markets.The efforts seem to be paying off. The company's market capitalization reached $9.2 billion, and its stock price showed a 19% increase YoY. Martins, 45, has been a member of Cosan's board since March, 2009. Before joining Cosan, Martins worked as Chief Financial Officer for Votorantim Cimentos between 2003 and 2007, and before that worked as head of Latin American Fixed Income at Salomon Smith Barney in New York. Marcelo Martins received the award in Sao Paulo. The award has been given to professionals such as the CFOs of Petrobras and Copersucar in Brazil and America Movil and Grupo Mexico in Mexico. LT CFO Forum are private events that offer CFOs, finance directors, treasurers and controllers from various industries in Latin America the opportunity to participate in high-level peer group discussions and interact in a private setting. The events equip CFOs with expert insight that helps them prepare for challenges across domestic and international borders. Since 2005 LT CFO Events foster a greater level of discussion and interaction between senior executives focusing on the trends, challenges and solutions through regional events in Miami and local chapters in key markets in Latin America. About Latin Trade Group