Sao Martinho S.a. · BMFBOVESPA:SMTO3
Sao Martinho — 3Q14 Earnings Presentation
11 slides from Sao Martinho's earnings presentation
Slide 1: Conference Call 3Q14/9M14
VAA/ yy) Sao Martinho Conference Call 3Q14/9M14
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 Harvest Conclusion Financial Highlights Adjusted EBITDA Analysis Indebtedness Hedge Capex 3
Slide 4: Crushing and Production
Crushing and Production Table 1 OPERATIONAL DATA 9M13 9M14 Chg.(%) São Martinho - Consolidated Sugarcane Crushed (MM tons) 12.9 15.6 21.0% Own 8,206 10,315 25.7% Third Parties 4,679 5,278 12.8% Mechanized Harvest 88.8% 93.9% 5.08 p.p. Production Sugar ('000 tons) 969 986 1.7% Anhydrous Ethanol ('000
Slide 5: Financial Highlights
Financial Highlights Graph 1 Graph 3 Sugar Sales Ethanol Sales -3.8% +5.3% Table 1 R$ 948.0 R$ 912.4 R$ 1,263.2 R$ 1,199.3 3Q13 3Q14 Variation +6.8% -12.6% 173.8 185.7 152.5 16.9 133.3 Net Revenues 394,916 424,812 +7.6% 19.5 110.4 168.7 113.1 161,053 168,426 154.4 Adjusted EBITDA +4.6% 42.2 20.2 Adj
Slide 6: Adjusted EBITDA Analysis - Quarter
Adjusted EBITDA Analysis - Quarter Graph 2 Adjusted EBITDA Table 1 Composition Graph 1 3Q14 3Q14 Sales 168,426 (in TRS) 39% Consolidated Consolidated S&E Cogen Others – Ex Others R$ '000 35% Net Rev enues 424,812 337,781 40,514 46,517 378,295 Adjusted EBITDA 168,426 124,132 35,673 8,621 159,805 26%
Slide 7: Adjusted EBITDA Analysis - Accumulated
Adjusted EBITDA Analysis - Acumulated Graph 2 Adjusted EBITDA Table 1 Composition Graph 1 9M14 9M14 Sales 618,907 (in TRS) Consolidated 47% Consolidated S&E Cogen Others – Ex Others R$ '000 Net Rev enues 1,533,054 1,311,198 74,885 146,971 1,386,083 40% Adjusted EBITDA 618,907 538,974 63,673 16,259 6
Slide 8: Indebtedness
Indebtedness Table 1 Graph 1 INDEBTEDNESS Mar/13 Dec/13 Chg.(%) CURRENCY R$ '000 PESA 69,599 63,188 -9.2% BNDES 546,570 538,616 -1.5% Indebtedness in Foreign Exchange 808,516 870,703 7.7% Obligations from Acquitisions 81,657 20,946 -74.3% Others 350,328 405,312 15.7% Gross Debt 1,856,670 1,898,765 2
Slide 9: Hedge
Hedge SUGAR HEDGE – 3Q14 Volume Avg. Price Avg. FX Avg. Price % of Own % of Total (tons) (US$ c/p) (R$/US$) (R$/ton) Sugarcane Sugarcane Sugar 2013/2014 Season 174,541 18.39 2.18 885.05 100% 75% 2014/2015 Season 338,536 18.34 2.39 964.28 44% 31% 9
Slide 10: Capex
Capex CAPEX 9M14 4Q14 (e) 12M14 R$ '000 Maintenance 283,274 116,726 400,000 Expansion 118,762 31,238 150,000 Total 402,036 147,964 550,000 10
Slide 11: IR - Contacts
IR - Contacts Phone: +55 11 2105-4100 E-mail: ir@saomartinho.com.br Website: www.saomartinho.com.br/ir