Sao Martinho S.a. · BMFBOVESPA:SMTO3
Sao Martinho — 2Q17 Earnings Presentation
10 slides from Sao Martinho's earnings presentation, November 2016
Slide 1: Earnings Release Conference Call 2Q17 16/17 Harvest
Earnings Release Conference Call 2Q17 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 Revised Guidance 4 Indebtedness 2 Inventories 5 COGS – Sugar and Ethanol 3 Financial Highlights 6 Sugar and Dollar Exposure 3
Slide 4: Revised Guidance
Revised Guidance Graph 1 Table 1 16/17 Crop Year ‘000 tons Guidance New Guidance Production Chg. (%) 16/17 Crop Year 16/17 Crop Year 99% 93% Crushing ('000 tons) 20,553 19,266 -6.3% capacity capacity Suagr ('000 tons) 1,356 1,297 -4.3% Anhydrous ('000 m³) 455 400 -12.1% Hydrous ('000 m³) 340 269 -21
Slide 5: Inventories
Inventories Production Inventories until the end of Total 2Q17 the harvest Sugar (tons) 465,416 204,605 670,021 Hydrous (m³) 106,947 15,665 122,612 Anhydrous (m³) 168,119 77,524 245,643 6M17 Sales vs Revised Guidance (TRS) 1,361 Sugar 51% ‘000 kg 700 Anhydrous 49% ‘000 kg 450 Hydrous 56% ‘000 kg 2,5
Slide 6: Financial Highlights
Financial Highlights Table 1 Graph 1 SUGAR Graph 2 ETHANOL +13.7% 1,180.8 +14.9% 1,633.3 2Q16 2Q17 Chg. % 1,421.3 Net Revenue 683,600 779,327 14.0% 1,038.7 +17.3% -11.6% COGS (cash) 298,881 338,705 13.3% 327.5 212.8 279.3 31.3 188.2 Selling Expenses 27,900 29,851 7.0% 23.6 212.8 G&A Expenses 38,384
Slide 7: COGS – Sugar and Ethanol
COGS – Sugar and Ethanol Quarter +1% 339 290 288 -43 -6 -2 2Q17 Consecana Others 2Q17 2Q16 Price Adjusted TRS Sold (‘000 ton) 667 1% 661 Average Cash Cost Per Unit (COGS/TRS) 451.8 0% 452.1 Year to Date +13% 647 570 507 -64 -13 -63 6M17 Consecana Others/ 6M17 6M16 Price Ethanol Imported Adjusted TRS
Slide 8: Indebtedness
Indebtedness Table 1 INDEBTEDNESS Mar/16 Sep/16 Chg%. Graph 1 Graph 2 R$ '000 CURRENCY TERM Indebtedness in foreign exchange 1,759,149 1,375,394 -21.8% USD BNDES / Rural Credit 799,041 746,290 -6.6% 36% Short- Working Capital 1,215,533 1,183,266 -2.7% term Reais 28% Agribusiness Certificate of Recei
Slide 9: Sugar and Dollar Exposure
Sugar and Dollar Exposure Volume Hedged Avg. Price % own % of dollar ('000 tons) (R$ c/p) sugarcane Sugar 2016/2017 crop year 415,506 62.22 85.2% 61.5% 2017/2018 crop year 350,131 72.56 32.5% 32.5% 9
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