Adecoagro S.a. · NYSE:AGRO

Adecoagro — Q2 2022 Earnings Presentation

17 slides from Adecoagro's earnings presentation, August 2022

  1. Slide 1: Adecoagro 2Q 2022 Earnings Webcast

    G& adecoagro ADECOAGRO 2N2 QUARTER 2022 EARNINGS WEBCAST

  2. Slide 2: Disclaimer

    DISCLAIMER This press release contains forward-looking statements that are based on our current expectations, assumptions, estimates and projections about us and our industry. These forward-looking statements can be identified by words or phrases such as “anticipate,” “forecast”, “believe,” “continu

  3. Slide 3: Sugar, Ethanol & Energy Business

    SUGAR, ETHANOL & ENERGY BUSINESS

  4. Slide 4: Rainfalls

    SUGAR, ETHANOL AND ENERGY BUSINESS RAINFALLS Mato Grosso do Sul Rains (In mm) YoY Rains 2Q22 vs 10 year Avg. YoY Rains 2Q21 154 10 Y. Avg 305 6M21 856 2Q22 314 2Q22 314 6M22 795 ∆% 103.4% ∆% 3.0% ∆% (7.1%) 10 y. Avg 2021 436 2022 237 190 183 212 204 132 175 112 111 115 90 100 76 80 49 41 5 January F

  5. Slide 5: Sugarcane Crushing

    SUGAR, ETHANOL AND ENERGY BUSINESS SUGARCANE CRUSHING Operational Metrics - 2Q21 vs. 2Q22 Operational Metrics - 6M21 vs. 6M22 Operational Metrics 2Q21 2Q22 % Change Operational Metrics 6M21 6M22 % Change Total Days 91 91 0.0% Total Days 177 104 (41.1%) Effective Milling Days 72 66 (8.3%) Effective M

  6. Slide 6: Productivity

    SUGAR, ETHANOL AND ENERGY BUSINESS PRODUCTIVITY Yields per Hectare TRS per Ton TRS per Hectare (Tons/Hectare) (Kg/Ton) (Kg/Hectare) (33.4%) (24.5%) (11.8%) 10,770 80 135 119 60 7,177 2Q21 2Q22 2Q21 2Q22 2Q21 2Q22 78 9,829 (24.6%) (7.0%) (29.9%) 126 117 6,892 59 6M21 6M22 6M21 6M22 6M21 6M22 6

  7. Slide 7: Production Mix

    SUGAR, ETHANOL AND ENERGY BUSINESS PRODUCTION MIX Price Evolution Production Mix 28 (in cts/lb) (in %) 23 15% 20% 44% 38% 41% 18 13 85% 80% 56% 62% 59% 8 31/01/2020 23/04/2021 17/07/2020 11/10/2019 13/08/2021 03/12/2021 30/12/2020 25/03/2022 04/01/2019 26/04/2019 22/05/2020 28/01/2022 21/06/2019 01/

  8. Slide 8: Avg Price & Quantity Sold by Product

    SUGAR, ETHANOL AND ENERGY BUSINESS AVG PRICE & QUANTITY SOLD BY PRODUCT 24.9 20.2 45.4% 16.8 19.7% 17.1 Average Average 257,928 Realized Realized 260,459 Price(1) Price(1) (cts/lb) 16.6% (cts/lb) (75.8%) 221,171 62,992 6M21 6M22 6M21 6M22 37.6 11.1% 41.8 18.3 243.9% 386,780 396,346 Average Average R

  9. Slide 9: Sales

    SUGAR, ETHANOL AND ENERGY BUSINESS SALES Net Sales 2Q21 vs. 2Q22 (1) Net Sales 6M21 vs. 6M22 (1) ($’000) ($’000) Ethanol 5.6% Sugar 232,210 10.9% Energy 163,974 219,928 CBios 147,819 71.7% 108,281 64,923 98.8% 185,880 129,037 71,594 96,744 (71.7%) (71.1%) 20,239 28,000 (15.6%) 9,544 (24.6%) 11,236 1

  10. Slide 10: Adjusted EBITDA

    SUGAR, ETHANOL AND ENERGY BUSINESS ADJUSTED EBITDA Adjusted EBITDA Adjusted EBITDA by Product (1) ($’000) (%) 61.5% Ethanol 47.7% 28.9% Sugar 104,358 Energy 1.3% CBios 73,586 2.7% 6.7% 41.8% (49.1%) 14.5% 28.6% 2Q21 2Q22 66.6% 57.5% 15.8% 25.9% 161,636 81.5% 131,740 64.7% 22.7% 6M21 6M22 6M21 6M22 A

  11. Slide 11: Farming Business

    FARMING BUSINESS

  12. Slide 12: Farming Business 2021/22 Harvest Year

    FARMING BUSINESS 2021/22 HARVEST YEAR 12

  13. Slide 13: Farming & Land Transformation Business Financial Performance

    FARMING & LAND TRANSFORMATION BUSINESS FINANCIAL PERFORMANCE Farming & LT Adj. EBITDA 2Q21 vs. 2Q22 (38.4%) ($ ‘000) 32,445 2Q21 2Q22 (63.4%) 19,995 (49.4%) (1.9%) 16,263 9,598 (88.9%) 5,948 7,347 7,206 4,859 2,023 (368) (41) (395) Crops Rice Dairy Others Land Transformation Farming & LT Farming & L

  14. Slide 14: Financial Review

    FINANCIAL REVIEW

  15. Slide 15: Performance Overview

    PERFORMANCE OVERVIEW $437 $ 1,098 $342 $ 899 $ 892 27.7% $315 $305 $ 822 $276 (2.7%) $ 770 335 $211 $205 562 $ 588 238 254 $ 460 253 411 247 576 532 257 132 470 162 240 536 360 411 330 96 107 124 89 323 300 220 51 72 56 -22 -20 -20 -19 -22 -10 -12 2017 2018 2019 2020 2021 6M21 6M22 2017 2018 2019 20

  16. Slide 16: Performance Overview

    PERFORMANCE OVERVIEW Liquidity Ratio Cash & Eq + Marketable Inventories ($mn) Short term Short Term Debt ($mn) Long Term 1.53x 1.31x 26% 269 Average life of 171 74% 4.2 years 262 353 1Q22 2Q22 S&E Farming & LT Net Debt/Adj. EBITDA LTM 1.9x 1.9x 10.9% Average Interest 1,018 1.8x 19.8% BRL 7.5% USD 4.

  17. Slide 17: Thank You!

    THANK YOU! Website: ir.adecoagro.com Charlie Boero Hughes - CFO Victoria Cabello - IRO Investor Relations Department chboero@adecoagro.com vcabello@adecoagro.com ir@adecoagro.com TEL: +5411 4836 8804 TEL: +5411 4836 8651

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