Bioceres Crop Solutions Corp. · NASDAQ:BIOX
Bioceres Crop Solutions — Q4 2024 Earnings Presentation
18 slides from Bioceres Crop Solutions's earnings presentation, Sep 10, 2024
Slide 1: Fiscal Fourth Quarter & Full-Year
Fiscal Fourth Quarter & Full-Year September / 2024
Slide 2: Disclaimer
BIOCERES CROP SOLUTIONS FOURTH QUARTER 2024 Disclaimer The Company believes that these non-IFRS measures of financial results This Presentation is for informational purposes only and does not constitute an offer or Industry and Market Data provide useful supplemental information to investors about t
Slide 3: Key Business & Financial Highlights
BIOCERES CROP SOLUTIONS FOURTH QUARTER 2024 Key Business FY24 revenues were $464.8 million, an 11% growth compared to the year & Financial before. GAAP net income stood at $6.2 million and Adjusted EBITDA1 at $81.4 million. Highlights 4Q24 revenues were $124.0 million, a 18% growth compared to the y
Slide 4: Revenue Evolution
BIOCERES CROP SOLUTIONS FOURTH QUARTER 2024 ($ Million) Revenue Evolution +11% 45.8 (9.6) 19.3 464.8 464.8 420.1 420.1 (10.5) 03 04 05 06 +18% 124.0 124.0 104.7 104.7 4Q23 4Q24 FY23 1Q 2Q 3Q 4Q FY24
Slide 5: Revenue by Segment
BIOCERES CROP SOLUTIONS FOURTH QUARTER 2024 4Q23 4Q24 Revenue ($ Million) by Segment 38.8 37.5 3% 104.7 45.1 124.0 53.2 18% 18% 04 33.3 Crop Protection 20.8 60% 05 Seed & Integrated Products 06 FY23 FY24 Crop Nutrition 07 ($ Million) Syngenta payment accrual 157.3 141.2 10% 420.1 206.1 464.8 227.2 1
Slide 6: Gross Profit by Segment
BIOCERES CROP SOLUTIONS FOURTH QUARTER 2024 4Q23 4Q24 Gross Profit ($ Million) by Segment 20.4 19.7 3% 40.2 14.1 47.4 18% 17.8 27% 05 Crop Protection 5.7 9.9 06 73% Seed & Integrated Products 07 FY23 FY24 Crop Nutrition 08 ($ Million) Syngenta payment accrual 90.4 74.5 18% 184.6 68.5 186.6 81.6 1% 1
Slide 7: 4Q24 Adjusted EBITDA
BIOCERES CROP SOLUTIONS FOURTH QUARTER 2024 ($ Million) 4Q24 Adjusted EBITDA1 1.6 (2.7) 1.2 19.9 4.6 0.2 464.8 06 Adj. EBITDA growth primarily driven by higher sales, combined with a stable 4.5 07 gross margin, and operational leverage at the SG&A level. 08 10.5 09 1. Adjusted EBITDA is a non- GAAP
Slide 8: FY24 Adjusted EBITDA
BIOCERES CROP SOLUTIONS FOURTH QUARTER 2024 ($ Million) FY24 Adjusted 14.3 5.2 (14.7) EBITDA1 (0.7) (5.2) 81.2 1.2 81.4 07 Adjusted EBITDA stable YoY, in line with gross profit performance. 08 SG&A increases attributable almost entirely 09 to variable expenses. 10 1. Adjusted EBITDA is a non- GAAP m
Slide 9: Balance Sheet & Cash Position
BIOCERES CROP SOLUTIONS FOURTH QUARTER 2024 Balance Sheet 4Q23 4Q24 ($ Million) & Cash Position Net Debt 2.26x 2.51x Adj. EBITDA1 Increase in total financial debt explained by a higher working capital position. 08 243.5 258.9 Increase in net debt-to-LTM adjusted 122.9 09 EBITDA1 ratio from 2.26x in
Slide 10: HB4/Seeds Revenue +2.7x in FY24, with +22% Gross Profit
BIOCERES CROP SOLUTIONS FOURTH QUARTER 2024 Fiscal Year Fourth Quarter HB4/Seeds Revenue +2.7x in FY24, with Revenue +22% Gross Profit 66.4 Gross Profit Expansion in 4Q24 09 10 28.4 11 12 24.2 16.4 12.0 7.5 4.9 3.6 FY23 FY24 4Q23 4Q24 ~2.7x growth in revenues and gross profit for the year ~22% in gr
Slide 11: Full Clearance for Cultivation of Drought Tolerant HB4 Wheat in the United States
BIOCERES CROP SOLUTIONS FOURTH QUARTER 2024 Full Clearance for Cultivation of Drought Under APHIS note, HB4 wheat is no longer subject to specific limitations, allowing non-regulated field activities for product development and commercialization. Tolerant HB4 Wheat in the United States US clearance
Slide 12: Management Transition in Biologicals
BIOCERES CROP SOLUTIONS FOURTH QUARTER 2024 Management Transition in Biologicals Business Milen Marinov SVP of Commercial for North America Susana Martins Carvalho Brazil Country Manager 11 12 & Global Key Account Manager 13 Milen Marinov joined Bioceres in July 2024 to Susana Martins Carvalho joine
Slide 13: Key Focus Areas FY25
BIOCERES CROP SOLUTIONS FOURTH QUARTER 2024 Key Profit expansion and improve cash generation. Enhance financial Focus Areas performance of HB4 scale-up and Soy outlook through key strategic relationships. FY25 Development and registration of new bio-control solutions in Brazil, the US, and Europe, t
Slide 14: Exhibits
BIOCERES CROP SOLUTIONS FOURTH QUARTER 2024 Exhibits
Slide 15: Unaudited Consolidated Statement of Comprehensive Income
BIOCERES CROP SOLUTIONS FOURTH QUARTER 2024 Three-month Three-month Fiscal Fiscal Unaudited period ended period ended year ended year ended 06/30/2024 06/30/2023 06/30/2024 06/30/2023 Revenues from contracts with customers 124.3 105.1 464.8 419.4 Consolidated Initial recognition and changes in the f
Slide 16: Unaudited Consolidated Statement of Financial Position
BIOCERES CROP SOLUTIONS FOURTH QUARTER 2024 ASSETS 06/30/2024 06/30/2023 LIABILITIES 06/30/2024 06/30/2023 Unaudited CURRENT ASSETS CURRENT LIABILITIES Cash and cash equivalents 44.2 48.1 Trade and other payables 168.1 150.8 Consolidated Other financial assets 10.1 12.1 Borrowings Employee benefits
Slide 17: Adjusted EBITDA
BIOCERES CROP SOLUTIONS FOURTH QUARTER 2024 The company defines adjusted EBITDA as net income/(loss) • Although share-based compensation is a non-cash charge, Adjusted exclusive of financial income/(costs), income tax benefit/(expense), depreciation, amortization, share-based compensation, and one-t
Slide 18: Contact Us: Investor Relations
Contact Us: Investor Relations Investorrelations@biocerescrops.com // Investors.biocerescrops.com
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