Sao Martinho S.a. · BMFBOVESPA:SMTO3
Sao Martinho — 2Q11 Earnings Presentation
8 slides from Sao Martinho's earnings presentation, November 2010
Slide 1: São Martinho
T novo MERCADO AY DAD Sao Martinho | -— Sao Martinho
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: Harvest Evolution
HARVEST EVOLUTION 6M10 6M11 Change Crushed Sugarcane ('000 tons) 9,466 10,813 14% Own 5,429 6,640 22% Suppliers 4,037 4,173 3% TRS 137 145 6% Sugar ('000 tons) 525 706 35% Anhydrous ('000 m3) 154 211 37% Hydrous ('000 m3) 282 270 -4% Mix Sugar 42% 47% 5 p.p Mix Ethanol 58% 53% -5 p.p Production mix
Slide 4: Results Highlights
RESULTS HIGHLIGHTS NET REVENUE ADJUSTED EBITDA R$ - Million R$ - Million 338,8 127,1 286,3 25.7 6.0 30.6 20.2 99.7 76,5 128.8 4.8 28.0 90.5 213.3 137.3 43.7 2Q10 2Q11 2Q10 2Q11 Sugar Ethanol Others Sugar Ethanol Others Upturn in sugar volume and price Strong expansion driven by higher Decline in eth
Slide 5: Hedge
HEDGE 2010/11 Harvest 2011/12 Harvest 7% Hedged 66% Hedged 1,000,000 1,000,000 900,000 20.00 880,000 900,000 818,938 20.00 800,000 800,000 700,000 15.00 700,000 15.00 600,000 600,000 500,000 415,699 10.00 500,000 10.00 400,000 274,000 400,000 300,000 300,000 200,000 141,699 5.00 200,000 5.00 100,000
Slide 6: Indebtedness
INDEBTEDNESS DEBT Sep/10 Sep/09 Chg. (%) R$ Thousand PESA 71,984 72,780 -1.1% Term Rural Credit 75,911 37,535 102.2% BNDES / FINAME 508,330 500,422 1.6% Working Capital 110,467 108,400 1.9% Short-term ACC (Advances on Foreign Exchange Contracts) 124,272 202,704 -38.7% 37% PPE (Export prepayment) 255
Slide 7: PBIO Impact
PBIO IMPACT Results - 6M11 SP GOIÁS CONSOLIDATED R$ Million 6M11 6M11 6M11 NET REVENUE 543 81 624 ADJUSTED EBITDA 220 26 246 ADJUSTED EBITDA MARGIN 40.5% 31.8% 39.3% NET DEBT 419 512 931 Indebtedness Impact - Proforma R$ Million 215 251 931 464 Debt Cash Debt Proforma Debt sep/10 Proportional Pbio A
Slide 8: IR Contacts
IR Contacts João Carvalho do Val CFO and IR Officer Felipe Vicchiato Investor Relations Manager Alexandre Gorla Aline Reigada João Carvalho do Val - Diretor Financeiro e de Relação com Investidores Phone: +55 11 2105-4100 Denise Araújo Francisco E-mail: ri@saomartinho.ind.br Gerente de RI Website: w