Bioceres Crop Solutions Corp. · NASDAQ:BIOX
Bioceres Crop Solutions — Q3 2020 Earnings Presentation
19 slides from Bioceres Crop Solutions's earnings presentation, May 12, 2020
Slide 1: Third Quarter 2020 Earnings Call Presentation
Third Quarter 2020 Earnings Call Presentation 12th May 2020
Slide 2: Disclaimer And Forward-Looking Statement
Disclaimer And Forward-Looking Statement This Presentation is for informational purposes only and does not constitute an offer or invitation to sell, a solicitation of an offer to buy, or a recommendation to purchase any equity, assets, business, debt or other financial instruments of the Company or
Slide 3: 3Q Highlights
3Q Highlights COVID-19: Business Continuity and Crisis committees summoned as of March 16th. Activity excepted from mandatory quarantine Comparable Revenues +9% YoY Growth across key product lines and despite temporary COVID-19 impact Further penetration of target international markets Rai
Slide 4: HB4 Inventory Ramp-up: Working Capital Cycles
HB4® Inventory Ramp-up: Working Capital Cycles Up to $30m needed for inventory ramp-up to enable FY2022 broad-acre launches in Soy and Wheat Logistics FY 2020 Seed FY 2021 treatment 3,000 ha - $2.2m 12,000 ha - $9.1m Storage (50% from JV partner) end Storage begin Harvest Data gathering Field FY 202
Slide 5: Update on EcoSoy and EcoWheat
Update on EcoSoy and EcoWheat EcoSoy EcoWheat Pre-commercial varieties showcased at ExpoAgro 2020, attended Ready to plant 12,000 hectares during upcoming winter campaign by over 100,000 South American growers Geographical proposal for EcoWheat planting High number of early adopters registered
Slide 6: A 360° Detailed View of EcoFields
A 360° Detailed View of EcoFields Extensive and detailed dataset on each EcoField available for crop monitoring and data science opportunities, gathered by OkaraTech digital platform Production stability Productive environments Daily meteorological data Soil moisture data (During April for Soybean c
Slide 7: Execution of International Expansion Strategy Driving Top Line Growth
Execution of International Expansion Strategy Driving Top Line Growth Comparable Segment Revenues ($ in millions) YoY Revenues largely linked to US dollar, except in Brazil 3Q20 +9%, deeper penetration of crop protection markets in Brazil, Bolivia, Paraguay and Uruguay, strong contribution from
Slide 8: Crop Protection Highlights
Crop Protection Highlights Comparable Segment Revenues ($ in millions) YoY 3Q20 +4%, higher sales of adjuvants and biological therapics in Brazil, Bolivia, Paraguay and Uruguay, partially offset by lower adjuvant, insecticide and fungicide sales in Argentina, due to mild pest conditions 9M20 +8%
Slide 9: Seed & Integrated Products Highlights
Seed & Integrated Products Highlights Comparable Segment Revenues ($ in millions) YoY 3Q20 +98%, on heightened commercial efforts in Europe driving significant packs sales growth as the Company captured acreage shift towards soybeans; sustained recovery of packs in Argentina 9M20 +7%, higher see
Slide 10: Crop Nutrition Highlights
Crop Nutrition Highlights Comparable Segment Revenues ($ in millions) YoY 3Q20 -10%, customers postponed pre-seasonal purchases of micro-beaded fertilizers in Argentina and Brazil due to short-lived uncertainty from Covid-19. Partially offset by recovery in fertilizer sales in Bolivia, higher inoc
Slide 11: Comparable Consolidated Gross Profit and Margin
Comparable Consolidated Gross Profit and Margin 3Q20 Gross Profit +6% YoY to $12.0 million. Margin at 46.4% versus 47.7% in 3Q19, as mix-shift to higher margin seed packs was more than offset by unfavorable FX and inflation dynamics increasing production costs in Argentina 9M20 Gross Profit +2%
Slide 12: Growth in 3Q Offset by Non-seasonal SG&A Increase
Growth in 3Q Offset by Non-seasonal SG&A Increase 3Q20 Adjusted EBITDA -21% to $2.6 million, as revenue and gross profit growth were offset by higher SG&A due to: i) growth expansion in Brazil, ii) FX & inflation dynamics in Argentina, iii) corporate expenses. Margin of 10.2% versus 17.7% in 3Q19,
Slide 13: Strengthened Balance Sheet and Increased Liquidity
Strengthened Balance Sheet and Increased Liquidity Raised $42.5 million through secured convertible promissory note, and $7.6 million through public corporate bonds Improved debt maturity profile: long-term debt at 59% of total debt, up from 37% in 2Q20 Enhanced financial liquidity: cash & equ
Slide 14: Enhanced Free Cash Flows Through Lower Financing Costs And Optimized CapEx
Enhanced Free Cash Flows Through Lower Financing Costs And Optimized CapEx Decreased total net interest expenses and financial commissions by $1.6 million YoY in 3Q20, by replacing inefficient external working capital sources with internally generated funds Strong asset base in place to support
Slide 15: Looking ahead
Looking ahead Accelerating HB4® Program Significantly ramping up inventories and further validating value proposition Setting stage for successful global launch of EcoSoy™ and EcoWheat™, by accelerating breeding and licensing arrangements in key markets Steadily driving adoption of digital far
Slide 16: Exhibits
7’ BIOCERES CROP SOLUTIONS EXHIBITS 11% February 2020
Slide 17: Unaudited Consolidated Statement of Comprehensive Income
Unaudited Consolidated Statement of Comprehensive Income Figures in $ Three-month period ended Three-month period ended Nine-month period ended Nine-month period ended 03/31/2020 03/31/2019 03/31/2020 03/31/2019 Total revenue 25,672,412 18,683,341 124,918,358 110,754,807 Cost of sales (14,920,088) (
Slide 18: Unaudited Consolidated Statement of Financial Position
Unaudited Consolidated Statement of Financial Position Figures in $ ASSETS 03/31/2020 06/30/2019 LIABILITIES 03/31/2020 06/30/2019 CURRENT ASSETS CURRENT LIABILITIES Cash and cash equivalents 48,178,287 3,450,873 Trade and other payables 51,888,345 40,578,494 Other financial assets 6,082,099 4,683,5
Slide 19: Contact Us
Contact Us Investor Relations Investorrelations@biocerescrops.com (54) 0341 4861100 Investors.biocerescrops.com
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