Sao Martinho S.a. · BMFBOVESPA:SMTO3
Sao Martinho — 1Q25 Earnings Presentation
9 slides from Sao Martinho's earnings presentation, August 2024
Slide 1: São Martinho 1st Quarter Results 2024/25 Crop Season
São Martinho 1st Quarter Results 2024/25 Crop Season August 2024
Slide 2: Disclaimer
DISCLAIMER ▪ This presentation contains forward-looking statements relating to the business outlook, operating and financial projections, and the growth prospects of São Martinho S.A. These statements merely represent projections and as such are based exclusively on management’s expectations about t
Slide 3: Agenda
1 PRODUCTION 2 FINANCIAL HIGHLIGHTS 3 MARGINS: SUGAR CANE 4 CORN OPERATIONS 5 PRICE EVOLUTION AGENDA 3
Slide 4: Production
PRODUCTION ∆ Production: 1Q25 1Q24 1Q25/1Q24 • Favorable weather for crushing Operational Data • Better use of time TRS Produced ('000 tons) 1,231.5 1,015.9 21.2% • Corn plant at full capacity Agricultural - Sugarcane Crushed Sugarcane (‘000 tons) 8,854.9 7,595.1 16.6% Agricultural Yield (ton/ha) 91
Slide 5: Financial Highlights
FINANCIAL HIGHLIGHTS ∆ 1Q25 1Q24 1Q25/1Q24 Net Rev enue¹ 1,654,793 1,353,309 22.3% Adjusted EBI TDA 672,339 557,261 20.7% Adjusted EBITDA Margin 40.6% 41.2% -0.5 p.p Adjusted EBI T 307,702 215,578 42.7% Adjusted EBIT Margin 18.6% 15.9% 2.7 p.p Financial Results (328,134) (160,818) 104.0% Biological
Slide 6: Margins: Sugar Cane
MARGINS: SUGAR CANE Sugar Ethanol R$/ton R$/m3 Price 2,610.4 5000.00 2,310.4 2500.00 6000.00 3,016.1 2,517.2 4500.00 3000.00 5000.00 2000.00 4000.00 3500.00 -12.7% +0.7% 2000.00 1500.00 4000.00 3000.00 1000.00 2,819.1 2,461.4 1000.00 Cash Cost 1,942.0 1,955.4 2500.00 3000.00 500.00 2000.00 - 2000.00
Slide 7: Corn Operations
CORN OPERATIONS ∆ 1Q25 1Q24 Crushing: 1Q25/1Q24 Net Revenue 136,996 97,364 40.7% • 124.1 thousand tons Ethanol 101,243 68,663 47.4% Actual 1T25 • In line with Guidance DDGS 31,238 26,083 19.8% Corn Oil 4,515 2,618 72.5% Cost of Goods Sold (COGS) (130,938) (103,508) 26.5% Corn Cost: Corn Purchases (1
Slide 8: Price Evolution
PRICE EVOLUTION Sugar – 1Q25 Actual - R$/TON SUPPLY AND DEMAND2 Price 2,610 3.9 MM TON; DATAGRO 08/24 1.7 0.7 2023/24 2024/25E Own Cane 2.651 -0.3 BRAZIL (CS) 42.4 | +26% 40.1 | -6% -1.9 -2.5 INDIA 32.1 | -2% 31.5 | -2% -4.8 Consecana 2,406 18/19 19/20 20/21 21/22 22/23 23/24 24/25E THAILAND 8.8 | -
Slide 9: Investor Relations
INVESTOR RELATIONS +55 11 2105-4100 ri@saomartinho.com.br www.saomartinho.com.br/ri www.saomartinho.com.br