Bioceres Crop Solutions Corp. · NASDAQ:BIOX
Bioceres Crop Solutions — Q2 2024 Earnings Presentation
15 slides from Bioceres Crop Solutions's earnings presentation, Feb 8, 2024
Slide 1: Second Quarter 2024
BIOCERES CROP SOLUTIONS FISCAL Second Quarter 2024 SECOND QUARTER 2024
Slide 2: Disclaimer
BIOCERES CROP SOLUTIONS Disclaimer This Presentation is for informational purposes only and does not constitute an offer or invitation to sell, a solicitation Financial Information Presentation of an offer to buy, or a recommendation to purchase any equity, assets, business, debt or other financial
Slide 3: Key Business & Financial Highlights
BIOCERES CROP SOLUTIONS Key Revenues in 2Q24 were $140.2 million, a 49% increase YoY, driven by a strong summer crop season in the southern hemisphere, and overall Business higher demand for Bioceres’ technologies & Operating profit for the period was $16.8 million with GAAP net income Financial at
Slide 4: Revenue Evolution
BIOCERES CROP SOLUTIONS Revenue Evolution Broad-based growth with robust 2Q24 results build on 1Q24´s strong performance, performance across all segments and confirm double-digit growth for revenues, GAAP net income and adjusted EBITDA1 for 1H24 +16% 03 04 256.8 05 221.5 06 +49% 140.2 138.7 94.4 SEC
Slide 5: Revenue by Segment
BIOCERES CROP SOLUTIONS 2Q24 2Q23 2Q24 Revenue ($ Million) by Segment 24.7 36.8 +49% 94.4 53.3 140.2 71.2 +49% +34% 04 05 32.2 16.3 +97% 06 07 Reporting Crop Nutrition Seed & Integrated Products Crop Protection SECOND QUARTER 2024 Segment Micro-beaded fertilizers Higher HB4 seed and Wetter condition
Slide 6: Gross Profit by Segment
BIOCERES CROP SOLUTIONS 2Q24 2Q23 2Q24 Gross Profit ($ Million) by Segment 8.3 15.3 +83% 35.3 18.7 51.5 26.2 +46% +40% 05 06 8.3 10.1 07 +22% 08 Reporting Crop Nutrition Seed & Integrated Products Crop Protection SECOND QUARTER 2024 Segment Key Drivers Substantial gross profit Increase in sales, wit
Slide 7: 2Q24 Adjusted EBITDA
BIOCERES CROP SOLUTIONS 2Q24 Adjusted EBITDA1 ($ Million) 16.7 (4.2) The combination of gross profit 2.0 (0.7) growth and operating leverage 06 resulted in a 134% increase in 24.1 adjusted EBITDA1 YoY 07 08 09 10.3 SECOND QUARTER 2024 Adj. EBITDA1 Gross Operating JVs Other income Adj. EBITDA1 2Q23 p
Slide 8: Balance Sheet & Cash Position
BIOCERES CROP SOLUTIONS Balance Sheet & Cash Position Net Debt 3.13x 2.09x Adj. EBITDA1 Improvement in Net debt-to-LTM ($ Million) 257.1 adjusted EBITDA1 ratio from 3.13x in 2Q23 to 2.09x in 2Q24, due to 07 151.7 223.0 higher LTM adjusted EBITDA1 08 109.5 09 10 113.5 105.5 SECOND QUARTER 2024 87.4 C
Slide 9: HB4 Soy Update
BIOCERES CROP SOLUTIONS HB4 Soy Update Soybean planting in Argentina, at 150% of the previous year New regulatory approvals ● Customer repeat rate at 85% (season over season) ● Overall crop health is good due to normalized weather conditions and rain frequency HB4 Soy food & feed in 08 Thailand 09 1
Slide 10: HB4 Wheat Update
BIOCERES CROP SOLUTIONS HB4 Wheat Update Seed inventory in place to meet FY24 guidance ~25% inventory held by multipliers 09 New regulatory approval 23/24 Season 24/25 Season 10 11 HB4 Wheat food & feed in 50% 30% Thailand 12 1% Technology performance SECOND QUARTER 2024 50% consistent with previous
Slide 11: Exhibits
BIOCERES CROP SOLUTIONS Exhibits SECOND QUARTER 2024
Slide 12: Unaudited Consolidated Statement of Comprehensive Income
BIOCERES CROP SOLUTIONS Unaudited Consolidated Statement of Comprehensive Income Three-month period Three-month period ended 12/31/2023 ended 12/31/2022 Revenues from contracts with customers 140.3 94.6 Initial recognition and changes in the fair value of biological assets at the point of harvest (0
Slide 13: Unaudited Consolidated Statement of Financial Position
BIOCERES CROP SOLUTIONS Unaudited Consolidated Statement of Financial Position ASSETS 12/31/2023 06/30/2023 LIABILITIES 12/31/2023 06/30/2023 CURRENT LIABILITIES CURRENT ASSETS Trade and other payables 164.0 150.8 Cash and cash equivalents 24.4 48.1 Borrowings 113.5 107.6 Other financial assets 17.0
Slide 14: Adjusted EBITDA
BIOCERES CROP SOLUTIONS Adjusted EBITDA The company defines adjusted EBITDA as net income/(loss) exclusive of financial income/(costs), income • Although share-based compensation is a non-cash charge, adjusted EBITDA does not consider the tax benefit/(expense), depreciation, amortization, share-base
Slide 15: Contact Us
BIOCERES CROP SOLUTIONS Contact Us Investor Relations Investorrelations@biocerescrops.com Investors.biocerescrops.com SECOND QUARTER 2024
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