Sao Martinho S.a. · BMFBOVESPA:SMTO3
Sao Martinho — 1Q23 Earnings Presentation
10 slides from Sao Martinho's earnings presentation, Aug 9, 2022
Slide 1: 1st Quarter Results 2022/2023 Harvest
1st Quarter Results 2022/2023 Harvest August 09, 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 Operational Highlights 2 Financial Highlights 3 Cash Cost 4 Indebtedness 5 Price Evolution 6 Ethanol Market 3
Slide 4: Operational Highlights
OPERATIONAL HIGHLIGHTS Sugarcane crushed Reduction of the volume of crushed sugarcane in ∆ 1Q23 1Q22 consequence of: 1Q23/1Q22 Crushed Sugarcane (‘000 tons) 7,811 8,723 -10.5% • Weather conditions in the Own 5,210 5,866 -11.2% period Third Parties 2,601 2,857 -9.0% Agricultural Yield (ton/ha) 71 75
Slide 5: Financial Highlights
FINANCIAL HIGHLIGHTS ∆ 1Q23 1Q22 1Q23/1Q22 Net Rev enue¹ 1,707,416 1,321,555 29.2% Adjusted EBI TDA 875,694 688,307 27.2% Adjusted EBITDA Margin 51.3% 52.1% -0.8 p.p Adjusted EBI T 464,016 367,356 26.3% Adjusted EBIT Margin 27.2% 27.8% -0.6 p.p Net I ncome 221,579 190,091 16.6% Cash I ncome 226,798
Slide 6: Cash Cost (Opex + Capex)
CASH COST (OPEX + CAPEX) SUGAR AND ETHANOL EQUIV. IN R$/TRS – 1Q23 2022/2023 Harvest +30.7% Main components of Cash 61 39 15 1,496 Cost: 1,145 90 1,234 147 5.3% 3.4% 1.3% 12.9% 7.8% • Diesel: +60% 1Q22 Consecana 1Q22 Late beginning Other Diesel Labor/ 1Q23 • Fertilizers: +40% Adjusted of season Inpu
Slide 7: Indebtedness
INDEBTEDNESS Jun/22 Mar/22 Chg.% (INCLUDES SWAP CONTRACTS CURRENCY – NET DEBT USD Gross Debt 6,036,635 5,892,017 2.5% 8% Cash and Cash Equiv alents 2,841,596 2,984,141 -4.8% Net Debt 3,195,039 2,907,876 9.9% Net Debt / LTM EBI TDA - R$ 0.96 x 0.93 x 4.2% Net Debt / LTM EBI TDA - USD¹ 0.89 x 0.94 x -
Slide 8: Price Evolution
PRICE EVOLUTION SUGAR – 1Q23 HEDGE POSITION – JUN/22 (EFECTIVE - R$/TON) Sugar hedged Avg. Price Avg. Price Price 1,884 (tons) (USD c/p) (R$/ton) Own Cane 1,807 22/23 Harvest 604,194 17.93 543,740 17.93 2,275 Consecana 2,180 60,453 17.93 not hedged 23/24 Harvest 164,956 19.57 160,733 19.57 2,375 4,2
Slide 9: Ethanol Market
ETHANOL MARKET ETHANOL PRICES – CEPEA/ESALQ SP (R$/m3) -15.0% Agreement ICMS Presumed ICMS 82/22 Credit LC 192/22 Fuel ICMS Start of Act Cotepe/PMPF legislative LC 194/22 02/22 monophasia Discussions* EC 123/22 4.23 4.08 4.07 3.83 3.86 3.94 3.63 3.84 3.84 3.57 3.57 3.52 3.40 3.38 3.22 3.50 3.41 3.36
Slide 10: Investor Relations
INVESTOR RELATIONS +55 11 2105-4100 ri@saomartinho.com.br www.saomartinho.com.br/ri