Sao Martinho S.a. · BMFBOVESPA:SMTO3
Sao Martinho — 2Q23 Earnings Presentation
10 slides from Sao Martinho's earnings presentation, Nov 8, 2022
Slide 1: 2nd Quarter Results 2022/2023 Harvest
2nd Quarter Results 2022/2023 Harvest November 08, 2022
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 th
Slide 3: Agenda
AGENDA 1 Financial Highlights 2 Cash Cost 3 Indebtedness 4 Price Evolution 5 Production Guidance 6 Capex Guidance 3
Slide 4: Financial Highlights
FINANCIAL HIGHLIGHTS ∆ 2Q23 2Q22 2Q23/2Q22 Net Rev enue¹ 1,584,671 1,425,702 11.2% Adjusted EBI TDA 787,714 790,094 -0.3% Adjusted EBITDA Margin 49.7% 55.4% -5.7 p.p Adjusted EBIT 420,037 467,250 -10.1% Adjusted EBIT Margin 26.5% 32.8% -6.3 p.p Net I ncome 212,596 368,412 -42.3% Cash Income 318,202
Slide 5: Cash Cost
CASH COST Sugar Cash Cost Composition (R$/ton) +38% 2022/23 Harvest Labour 18% SG&A 1,715 1,800 9% 1,302 Diesel 8% 6M22 6M23 12M23E Cane 37% Defensives 5% Fertilizers Ethanol 9% (R$/m3) Others +31% 14% Price Variations (year-on-year) 2,583 2,600 1,984 - Diesel: +54%; - Fertilizers: +42%; 6M22 6M23 1
Slide 6: Indebtedness
INDEBTEDNESS (INCLUDES SWAP CONTRACTS CURRENCY – NET DEBT Mar/22 Sep/22 Chg.% USD Gross Debt 6,103,972 5,892,017 3.6% 8% Cash and Cash Equiv alents 1,884,434 2,984,141 -36.9% Net Debt 4,219,538 2,907,876 45.1% Net Debt / LTM EBI TDA - R$ 1.27 x 0.93 x 37.7% Net Debt / LTM EBI TDA - USD¹ 1.14 x 0.94
Slide 7: Price Evolution
PRICE EVOLUTION SUGAR – 6M23 HEDGE POSITION - SEP/22 (EFECTIVE - R$/TON) Price 2,011 Sugar hedged Avg. Price Avg. Price (tons) (USD c/p) (R$/ton) 22/23 Harvest 480.388 17,86 Own Cane 1,928 416.125 17,86 2.283 64.263 17,86 not hedged Consecana 2,268 23/24 Harvest 373.094 18,70 362.118 18,70 2.314 10.
Slide 8: Production Guidance
PRODUCTION GUIDANCE Revised Production Updated Guidance Guidance Updated estimates for 12M23 12M23 Chg. (%) production and sugarcane Operational Data available for processing Crushing ('000 tons) 20,011 20,300 -1.4% Weather Conditions throughout 21/22: Av erage TRS (kgs/ton) 140 142 -1.3% • Prolonge
Slide 9: Capex Guidance
CAPEX GUIDANCE Capex Revision +10.1% Total Capex revised: ~R$ 2.9 bi Modernization/Expansion +2.1% +1.3% +38.6% • Water Use Plan; • Flexibility in anhydrous ethanol production in São Paulo; • Irrigation Plan at the São Martinho Mill. 9
Slide 10: Investor Relations
INVESTOR RELATIONS +55 11 2105-4100 ri@saomartinho.com.br www.saomartinho.com.br/ri