Sao Martinho S.a. · BMFBOVESPA:SMTO3
Sao Martinho — Q1 2014 Earnings Presentation
10 slides from Sao Martinho's earnings presentation, 2014
Slide 1: 1Q14 - Earnings Release
Guz NOVO MERCADO BM&FBOVESPA Sao Martinho 2014 1Q14- Earnings Release
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 the
Slide 3: Initial Considerations
Initial Considerations • Adoption of IFRS 11(CPC 19); • São Martinho will no longer proportionally consolidate 2 relevant assets – Santa Cruz S.A. e Nova Fronteira S.A. – on its Balance Sheet, Income Statement and Cash Flow Statement, going to present the results of theses investees through Equity I
Slide 4: Some Numbers – IFRS11 (CPC 19) Effects 1Q14
Some Numbers – IFRS11 (CPC 19) Effects 1Q14 São Martinho S.A. UBV USC São Martinho S.A. (consolidated IFRS11) (50,25%) (32,18%) (Pro forma) Net Revenue 396,242 62,708 35,166 494,261 Adjusted EBITDA 164,171 29,217 18,487 211,615 Adjusted EBITDA Margin 41.4% 46.6% 52.6% 42.8% Adjusted EBIT 62,379 (1,9
Slide 5: Operational Highlights – 1Q14
Operational Highlights– 1Q14 Crushed Sugarcane TRS (‘000 tons) (Kg/ton) 90.0% 5,543 127 1,272 3.6% 2,918 123 759 4,271 2,159 1Q13 1T13 1Q14 1T14 1T13 1Q13 1T14 1Q14 Própria Own Terceiros Third Parties ATR/ton TRS/kg Sugar Ethanol (‘000 m³) (‘000 tons) 318 215 133.7% 67.4% 83 190 92 42 132 50 1T13 1T
Slide 6: Financial Highlights – 1Q14
Financial Highlights– 1Q14 Table 1 1Q13 1Q14 % Chg. Graph 1 Net Revenue 290.3 494.3 +70.3% Sugar Ethanol -16.8% +5.7% COGS (cash) (146.4) (229.1) +56.4% Adjusted EBITDA 108.1 211.6 +95.8% +88.9% +94.9% Adjusted EBITDA 37.2% 42.8% +5.6 p.p. Margin Income Before 2.9 49.1 n.m. Taxes Net Income 2.4 34.7
Slide 7: EBITDA Cost – 1Q14
EBITDA Cost – 1Q14 Graph 1 % of Net Revenue 1Q14 Table 1 1Q14 Sugar Ethanol Others TOTAL Net Rev enue 229,090 220,482 44,689 494,261 Adj. EBI TDA 103,569 98,480 9,567 211,615 Adj. EBITDA Margin 45.2% 44.7% 21.4% 42.8% Table 2 EBITDA COST BY PRODUCT – 1Q14 1Q13 1Q14 % Chg. EBITDA Cost (550.6) (488.9)
Slide 8: Indebtedness
Indebtedness DEBT jun/13 mar/13 Var%. R$ Thousand CURRENCY PESA 66,215 69,599 -4.9% BNDES 557,177 546,570 1.9% Indebtness in Foreign Exchange 851,256 808,516 5.3% Obligations from Acquisitions 83,708 81,657 2.5% Others 265,343 350,328 -24.3% Gross Debt 1,823,699 1,856,670 -1.8% Cash and Cash Equival
Slide 9: Guidance – Crop Year 2013/2014
Guidance – Crop Year 2013/2014 Table 1 Actual x Guidance Guidance Production 2012/2013 Var. (%) 2013/2014 (*) Crushing ('000 tons) 12.9 15.3 18.5% Sugar ('000 tons) 970.4 996.0 2.6% % Actual/Guidance Ethanol ('000 m3) 451.4 644.0 42.7% 26% - Sugar Mix Sugar/Ethanol 57% - 43% 48% - 52% 30% - Anhydrou
Slide 10: IR - Contacts
IR - Contacts Telephone: +55 11 2105-4100 E-mail: ri@saomartinho.com.br Website: www.saomartinho.com.br/ir