Sao Martinho S.a. · BMFBOVESPA:SMTO3
Sao Martinho — 4Q17 Earnings Presentation
10 slides from Sao Martinho's earnings presentation
Slide 1: Earnings Release Conference Call 4Q17 16/17 Harvest
Earnings Release Conference Call 4Q17 16/17 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 4Q17 2. Financial Highlights 12M17 – 100% UBV 3. Free Cash Flow 4. Indebtedness 5. Hedge 6. Guidance 3
Slide 4: Financial Highlights 4Q17
Financial Highlights 4Q17 Graph 1 SUGAR Graph 2 ETHANOL Table 1 R$ ‘000 4Q16 4Q17 Chg. % +29.3% -11.9% Net Revenue 818,146 894,270 9.3% 1,398.1 1,994.4 COGS (cash) (401,820) (438,052) 9.0% Selling Expenses (33,666) (28,758) -14.6% G&A Expenses (41,061) (31,422) -23.5% 1,081.7 1,757.5 +3.1% Adjusted
Slide 5: Financial Highlights 12M17 – 100% UBV
Financial Highlights 12M17 – 100% UBV Table 1 R$ ‘000 12M16 12M17* Chg. % Net Revenue 2,831,124 3,499,437 23.6% COGS (cash) (1,281,790) (1,549,841) 20.9% Selling Expenses (109,145) (111,517) 2.2% G&A Expenses (145,214) (178,497) 22.9% Adjusted EBITDA 1,301,240 1,666,784 28.1% Adj. EBITDA Margin 46.0
Slide 6: Free Cash Flow – 100% UBV
Free Cash Flow – 100% UBV R$ million Graph 1 1,667 792 875 9 592 172 18 82 392 117 Adjusted Maintenance Operating Taxes Paid Financial Working Cash flow Improvement Expansion Cash Flow for EBITDA Capex Cash Capital before Capex Capex Shareholders Generation / Others improvement and expansion 6
Slide 7: Indebtedness
Indebtedness Table 1 Graph 1 Graph 2 INDEBTEDNESS Mar/16 Mar/17 Chg%. CURRENCY TERM R$ '000 Indebtedness in foreign exchange 1,759,149 1,217,557 -30.8% BNDES / Rural Credit 799,041 885,751 10.9% USD Short Working Capital 1,346,977 1,328,561 -1.4% 32% Term Long Reais 40% Agribusiness Certificate of R
Slide 8: Hedge
Hedge Table 1 Volume Avg. Price Avg. Dolar Avg. Price Hedged (US$ c/p) (R$ /US$)* (R$ /ton) ('000 tons) Sugar Our sugar prices hedged May/17 (K17) 211,299 20.67 3.48 1,586 represents, approximately 68% Jul/17 (N17) 209,713 20.04 3.56 1,574 of own cane and 50% of total Oct/17 (V17) 179,028 19.91 3.
Slide 9: Guidance
Guidance Table 1 Performed Guidance Chg. (%) 16/17 Crop Year* 17/18 Crop Year Crushing ('000 tons) 19,281 22,300 15.7% Suagr ('000 tons) 1,301 1,400 7.6% Anhydrous ('000 m³) 398 450 13.1% Hydrous ('000 m³) 269 430 59.8% Cogeneration ('000 MWh) 720 900 25.0% Average TRS (Kgs/Ton) 130.3 133.5 2.5% Tot
Slide 10: Contacts - IR
Contacts - IR Felipe Vicchiato CFO e IRO Aline Reigada IR Manager Letícia Montagnani IR Senior Analyst Telephone: +55 11 2105-4100 E-mail: ri@saomartinho.com.br Website: www.saomartinho.com.br/ir 10