Brasilagro Cia Brasileira De Propriedades Agricolas · BMFBOVESPA:AGRO3
Brasilagro Cia Brasileira De Propriedades Agricolas — Brasilagro Brazilian Agric Real Estate Co Sponsored ADR (Brazil) — Q2 2024 Earnings Presentation
22 slides from Brasilagro Cia Brasileira De Propriedades Agricolas's earnings presentation, Feb 9, 2024
Slide 1: Results Presentation 2Q24 | 6M24
RESULTS PRESENTATION 2Q24 | 6M24 André Guillaumon Gustavo Lopez Ana Paula Zerbinati CEO CFO & IRO IR and Capital Market Head
Slide 2: 2Q24 | 6M24 Results Videoconference
2Q24 | 6M24 RESULTS VIDEOCONFERENCE PORTUGUÊS Essa videoconferência será em português, com tradução simultânea para o inglês. Alteração de Idioma: para acessar a tradução simultânea, clique no botão ENGLISH Interpretation, na parte inferior direita da tela, The following presentation will be held in
Slide 3: 6M24 Highlights
6M24 HIGHLIGHTS Financial Operational Conclusion of planting R$424.1 million Grains and Cotton in of net revenue 88.7 thousand hectares in Brazil, Paraguay R$24.2 million and Bolivia net income Delivery of 2.0 million R$10.8 million tons of sugar cane Adjusted EBITDA 3
Slide 4: 2023/2024 Harvest Year
2023/2024 HARVEST YEAR Planted area (thousand hectares) Projected Planted Area 23/24 Crop 172,459 hectares Culture Breakdown Land Ownership 16% 4% 38% 172,4 42% 168,9 168,8 9% 53% 161,1 14% 9% 7% 8% 153,2 19/20 Harvest 20/21 Harvest 21/22 Harvest 22/23 Harvest 23/24 Harvest Projected Soybean Corn an
Slide 5: Planted Area (ha)
PLANTED AREA (HA) -7,1% 185.691 Climate 172.459 74.997 -3,6% 72.277 Plantado -3,7% 25.759 -8,9% 24.816 29.283 26.681 -45,7% 26.622 14.459 +77,6% 15.374 15.374 +1,3% 11.685 6.581 7.075 7.168 23/24 HARVEST ESTIMATED 2T24 PROJECTED Cotton Beans Pasture Corn Others Sugarcane Soybeans TOTAL 5
Slide 6: 2023/2024 Harvest Year - Production (tons)
2023/2024 HARVEST YEAR - Production (tons) Grains and Cotton Crop Status 14% Harvested 22/23 Harvest 23/24 Harvest Change 23/24 Harvest Change Production per product (tons) 0% Start Forescast 03/09 Realized Estimated (%) Projected (%) 0% Start Forescast 03/04 Soybean 204.606 248.471 21% 233.890 -6%
Slide 7: 2023 Harvest | Sugarcane
2023 Harvest | Sugarcane April to June July to December Total Harvest SUGARCANE 2022 2023 Var. (%) 2022 2023 Var. (%) 2022 2023 Var. (%) Hectares harvested 7.431 5.897 -20,6% 17.426 18.926 8,6% 24.857 24.951 0,4% Tons harvested 654.228 530.061 -19,0% 1.287.193 1.432.651 11,3% 1.941.421 1.975.027 1,7
Slide 8: 2023/2024 Harvest Year | Cattle Raising
2023/2024 HARVEST YEAR | Cattle Raising Pasture ADG Cattle Heads 25000 (hectares) (kg) Cattle Raising 20000 20.164 19.307 15000 15.374 15.056 0,56 10000 5000 0,26 0 23/24 Harvest 23/24 Harvest 23/24 Harvest 23/24 Harvest 23/24 Harvest 23/24 Harvest Estimated Realized Estimated Realized Estimated Rea
Slide 9: Scenario
SCENARIO Commodity performance (Jan/23- Jan/24) ( R$ / @) ( R$ / 60 Kg) -36.5% 290 -14.8% 184 Soy 247 Paranaguá Cattle Raising 117 ( R$ / 60 kg) ( R$ / L) -27.0% -24.4% 89 2.972 Corn Ethanol 2.248 BM&FBOVESPA 65 Hydrated Futuro B3 ( R$ / 50 Kg) ((Algodão NY c/lb) -0.5% 2.4% 83 85 Sugar cane Cotton (
Slide 10: Scenario: Price of Inputs
SCENARIO Price of inputs Average Price Status Purchase Fertilizers – Fev/24 BrasilAgro: USD/TON. -7% Nitrogenous 23/24 22/23 Harvest: MAP 955,0 4% Potassium chloride BRAZIL 647,5 617,5 USD/ton 557,5 602,5 23/24 Harvest: 535 Phosphates 583,59 445 USD/ton NPK - Formulado Dez-22 Dez -23 96% NPK - Formu
Slide 11: Hedge Position
HEDGE POSITION As of December 31, 2023 SOYBEANS COTTON 100% 100% 100% 100% 100% 65% 58% 72% R$/USD R$/USD R$/USD R$/lb USD/Bushel 5,67 USD/Bushel R$/USD R$/lb R$/USD R$/USD 14.50 5,47 5.47 13.19 5.33 87.50 5.65 82.50 5.58 Commodity FX Câmbio Commodity FX Câmbio Commodity Câmbio FX Commodity FX Câmbi
Slide 12: Key Figures
KEY FIGURES (R$ thousand) 2Q24 2Q23 Change 6M24 6M23 Change Revenues from Operations 147.222 156.700 -6% 418.981 455.024 -8% Revenues from Farm Sales 4.752 28.093 -83% 5.165 29.574 -83% Net Sales Revenue 151.974 184.793 -18% 424.146 484.598 -12% Variation in the fair value of biological assets 3.713
Slide 13: Total Gross Income
Total Gross Income January to June July to December SOYBEAN 2022 2023 2022 2023 3Q22+4Q22 3Q23+4Q23 Var. (%) 6M32 6M24 Var. (%) Total Total Var. (%) Quantity sold (tons) 144.954 152.644 -5% 53.692 35.134 53% 198.645 187.778 6% Net Revenue 325.198 380.334 -14% 106.715 94.020 14% 431.913 474.355 -9% D
Slide 14: Total Gross Income
Total Gross Income January to June July to December SUGARCANE 2022 2023 2022 2023 3Q22+4Q22 3Q23+4Q23 Var. (%) 6M23 6M24 Var. (%) Total Total Var. (%) Quantity sold (tons) 609.621 479.372 -21% 1.161.022 1.305.064 12% 1.770.643 1.784.436 1% Net Revenue 97.277 60.955 -37% 183.875 170.697 -7% 281.152 2
Slide 15: Results Operations
RESULTS OPERATIONS Operational EBITDA Breakdown EBITDA Operations (excluding G&A Expenses) Adjusted EBITDA (R$ thousand) 6M24 6M23 Change Net Income 19.439 11.621 67% 100% Interest (62.825) (28.119) n.a. 6M24 Taxes (5.545) 4.240 n.a. Depreciations and Amortizations 40.227 44.961 -11% Other operating
Slide 16: Indebtedness
INDEBTEDNESS Net Financial Debt Amortization Schedule (R$ thousand) 12/31/2023 06/30/2023 Change Short Term 241.531 198.213 22% 104,9% CDI Long Term 501.610 356.425 41% Total Indebtedness 743.141 554.638 34% R$607,04 million Farmland sales (+/-) Derivatives (39.857) (61.010) -35% receivables (=) Adj
Slide 17: Agrobit Project
AGROBIT PROJECT OBJECTIV INVESTMENT AND BENEFITS Integration of agricultural and TERM Digitize our operations in the field. The system financial management with SAP allows you to operate in the lots without internet ERP, aiming at efficiency in R$ 1,600,000 for the 3 countries signal with an applica
Slide 18: Connectivity Project
CONNECTIVITY PROJECT São José Farm Chaparral Farm OBJECTIV OBJECTIV Provide 4G coverage, in Provide 4G coverage in partnership with TIM. The partnership with SOL. The solution solution includes the installation includes the installation of 02 of 2 new TIM sites, in which the new towers of 60 m each
Slide 19: Biofabrics
BIOFABRICS 2 Biofabrics installed at the Chaparral farm and at the Serra C Grande farm. We are finalizing the H construction of our third Biofactory A on the Jataí farm (Xingu) and the project for the fourth Biofactory for P the São José farm has already been A To strengthen management activity In d
Slide 20: Capital Market
CAPITAL MARKET Price – February 07, 2024 AGRO3 x Ibovespa (base 100 = 12/31/2022) Mkt Cap: R$2.5bi AGRO3: R$24.63 LND: US$4.97 AGRO3 IBOV 20
Slide 21: Disclaimer
DISCLAIMER Disclaimer The statements contained in this document related to business perspectives, projections on operating and financial results and those related to BrasilAgro's growth prospects are mere projections and, as such, are based exclusively on the board's expectations about the future of
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