Sao Martinho S.a. · BMFBOVESPA:SMTO3
Sao Martinho — 3Q23 Earnings Presentation
8 slides from Sao Martinho's earnings presentation, Feb 14, 2023
Slide 1: 3rd Quarter Results 2022/2023 Harvest
3rd Quarter Results 2022/2023 Harvest FEBRUARY 14, 2023
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 3
Slide 4: Financial Highlights
FINANCIAL HIGHLIGHTS ∆ 3Q23 3Q22 3Q23/3Q22 Net Rev enue¹ 1,534,656 1,531,126 0.2% Adjusted EBI TDA 774,994 892,796 -13.2% Adjusted EBITDA Margin 50.5% 58.3% -7.8 p.p Adjusted EBIT 357,232 556,210 -35.8% Adjusted EBIT Margin 23.3% 36.3% -13.0 p.p Copersucar Rights 475,761 415,476 14.5% Net Financial
Slide 5: Cash Cost
CASH COST Sugar Cash Cost Composition (R$/ton) +25% 2022/23 Harvest Labour 18% 1,762 1,800 SG&A 1,445 9% Diesel Cane 6% 9M22 9M23 12M23E 38% Defensives 5% Fertilizers 9% Ethanol (R$/m3) Others +22% 15% Price Variations (year-on-year) 2,570 2,600 2,132 - Diesel: +51%; - Fertilizers: +42%; 9M22 9M23 1
Slide 6: Indebtedness
INDEBTEDNESS (INCLUDES SWAP CONTRACTS CURRENCY – NET DEBT Dec/22 Mar/22 Chg.% USD Gross Debt 6,679,379 5,892,017 13.4% 6% Cash and Cash Equiv alents 2,700,617 2,984,141 -9.5% Net Debt 3,978,762 2,907,876 36.8% Net Debt / LTM EBI TDA - R$ 1.24 x 0.93 x 34.0% Net Debt / LTM EBI TDA - USD¹ 1.15 x 0.94
Slide 7: Price Evolution
PRICE EVOLUTION SUGAR – 9M23 HEDGE POSITION - DEC/22 (EFECTIVE - R$/TON) Price 2,020 Sugar hedged Avg. Price Avg. Price (tons) (USD c/p) (R$/ton) 22/23 Harvest 348,854 20.08 Own Cane 1,932 306,667 20.08 2,537 42,187 20.08 not hedged Consecana 2,244 23/24 Harvest 532,766 18.76 513,093 18.76 2,322 19,
Slide 8: Investor Relations
INVESTOR RELATIONS +55 11 2105-4100 ri@saomartinho.com.br www.saomartinho.com.br/ri