Sao Martinho S.a. · BMFBOVESPA:SMTO3
Sao Martinho — 4Q21 Earnings Presentation
10 slides from Sao Martinho's earnings presentation, June 2021
Slide 1: Results 4th Quarter 2020/2021 Harvest
Results 4 th Q u a r t e r 2020/2021 Harvest
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
Agenda 1. Financial Highlights 4. Production Guidance 2. Cash Cost 5. Sugar and Ethanol Market 3. Indebtedness 6. Capex 33
Slide 4: Financial Highlights
Financial Highlights R$ ‘000 Executive Summary 4Q20 4Q21 Chg. (%) 12M20 12M21 Chg. (%) Net Revenue¹ 1,146,539 1,157,045 0.9% 3,701,547 4,322,174 16.8% Adjusted EBITDA 579,510 568,227 -1.9% 1,857,191 2,187,515 17.8% Adjusted EBITDA Margin 50.5% 49.1% -1.4 p.p. 50.2% 50.6% 0.4 p.p. Adjusted EBIT 270,1
Slide 5: Cash Cost 12M21 (including Maintenance Capex)
Cash Cost 12M21 (including Maintenance Capex) CASH COGS – SUGAR AND ETHANOL (R$ mm) SUGAR ETHANOL +15.0% (R$/ton) (R$/m3) 161 1,612 56 1,669 +3.0% +16.6% 1,452 1,333 1,940 1,999 Price 1,144 Δ Margin Δ Margin +8.0 p.p. +4.2% -1.0 p.p. +6.4% 12M20 Consecana 12M20 Deviation 12M21 Adjusted 1,044 1,110 1
Slide 6: Indebtedness
Indebtedness Currency - Gross Mar/20 Mar/21 Chg.% R$ '000 Gross Debt 4,841,376 4,066,251 -16.0% BBB- Cash and Cash Equiv alents 1,962,065 1,364,148 -30.5% USD Investment Grade Net Debt 2,879,311 2,702,103 -6.2% 37% Global Scale Net Debt / LTM EBI TDA - R$ 1.55 x 1.24 x -20.3% R$ Net Debt / LTM EBI T
Slide 7: Production Guidance: 21/22 Harvest
Production Guidance: 21/22 Harvest 21/22 20/21 Chg. (%) Guidance ✓ Crushing reduction, and average TRS in line, OPERATIONAL DATA as a result of the severe drought in the country, which will momentarily affect the Crushing ('000 tons) 22,522 20,525 -8.9% productivity of our sugarcane fields Average T
Slide 8: Sugar and Ethanol Market
Sugar and Ethanol Market Sugar Price in BRL Hedge Position Sugar Hedged Avg. Price Avg. Price 88 (tons) (USD c/p) (R$/ton) 21/22 Harvest 939,288 13.75 97% own 54 17 fixed* 749,415 13.75 1,657 13 5.07 189,873 13.75 not hedged 22/23 Harvest 343,120 14.18 38% own 4.03 fixed* 260,909 14.18 1,829 Jan-20
Slide 9: Capex - 21/22 Harvest
Capex - 21/22 Harvest 2021/2022 Harvest (estimated) ✓ Maintenance Capex: R$ 1.3 BI ✓ Operational Improvements + Projects: ~R$ 750 million ✓ Corn Ethanol Project (GO) ✓ Cogen Project at São Martinho Mill ✓ ERP ✓ Projects to increase agroindustrial efficiency Estimated Capex ~R$ 2.1 BI 911
Slide 10: Investor Relations Contacts
Investor Relations Contacts +55 11 2105-4100 ri@saomartinho.com.br www.saomartinho.com.br/ir