Adecoagro S.a. · NYSE:AGRO
Adecoagro — Q1 2022 Earnings Presentation
15 slides from Adecoagro's earnings presentation, May 2022
Slide 1: Adecoagro 1st Quarter 2022 Earnings Webcast
G& adecoagro ADECOAGRO 1ST QUARTER 2022 EARNINGS WEBCAST
Slide 2: Disclaimer
DISCLAIMER This press release contains forward-looking statements that are based on our current expectations, assumptions, estimates and projections about us and our industry. These forward-looking statements can be identified by words or phrases such as “anticipate,” “forecast”, “believe,” “continu
Slide 3: Sugar, Ethanol & Energy Business
SUGAR, ETHANOL & ENERGY BUSINESS
Slide 4: Rainfalls & Sugarcane Crushing
SUGAR, ETHANOL AND ENERGY BUSINESS RAINFALLS & SUGARCANE CRUSHING YoY Rains 1Q22 vs 10 year Avg. Operational Metrics - 1Q21 vs. 1Q22 1Q21 700 10 Y. Avg 591 Operational Metrics 1Q21 1Q22 % Change 1Q22 481 1Q22 481 ∆% (31.3%) ∆% (18.6%) Total Days 82 17 (78.8%) Effective Milling Days 47 9 (81.1%) Tota
Slide 5: Productivity
SUGAR, ETHANOL AND ENERGY BUSINESS PRODUCTIVITY Yields per Hectare TRS per Ton TRS per Hectare (Tons/Hectare) (Kg/Ton) (Kg/Hectare) (40.9%) (11.0%) (47.4%) 75 112 8,375 100 44 4,404 1Q21 1Q22 1Q21 1Q22 1Q21 1Q22 5
Slide 6: Production Mix
SUGAR, ETHANOL AND ENERGY BUSINESS PRODUCTION MIX Price Evolution Production Mix 28 (in cts/lb) (in %) 24 15% 3% 20 44% 38% 40% Sugar 16 12 97% 8 Ethanol 85% 56% 62% 60% 06/11/2020 30/12/2020 04/01/2019 01/03/2019 26/04/2019 21/06/2019 16/08/2019 11/10/2019 06/12/2019 31/01/2020 27/03/2020 22/05/202
Slide 7: Sales
SUGAR, ETHANOL AND ENERGY BUSINESS SALES Ethanol Sales Volume (m3) Net Sales 1Q21 vs. 1Q22 (2) 37.4% ($’000) Average 15.7 21.6 Realized Price(1) 97,111 (11.9%) 72,217 cts/lb 85,594 (5.5%) 68,262 1Q21 1Q22 Ethanol Energy Sales Volume (MWh) (14.5%) Sugar 30.3 43,362 Average 25.9 Realized Energy Price
Slide 8: Adjusted EBITDA
SUGAR, ETHANOL AND ENERGY BUSINESS ADJUSTED EBITDA Adjusted EBITDA 1Q21 vs. 1Q22 ($’000) 1.1% 77.8% 78.7% 58,154 (1.5%) 57,278 1Q21 1Q22 Adjusted EBITDA Margin 8
Slide 9: Farming Business
FARMING BUSINESS
Slide 10: Farming Business: 2021/22 Harvest Year
FARMING BUSINESS 2021/22 HARVEST YEAR 10
Slide 11: Farming & Land Transformation Business Financial Performance
FARMING & LAND TRANSFORMATION BUSINESS FINANCIAL PERFORMANCE Farming & LT Adj. EBITDA 1Q21 vs. 1Q22 ($ ‘000) (36.6%) 56,152 1Q21 1Q22 (70.9%) 35,573 28,337 3.2% 17,913 18,490 48.0% (77.4%) 13.3x 8,250 6,999 4,729 5,126 47 675 1,159 Crops Rice Dairy Others Land Transformation Farming & LT 11
Slide 12: Financial Review
FINANCIAL REVIEW
Slide 13: Performance Overview
PERFORMANCE OVERVIEW $437 $ 1,098 $315 $342 $ 899 $ 892 $305 $ 822 $276 $ 770 17.6% 335 (20.8%) 238 254 562 253 411 247 576 470 532 $ 205 $109 $86 $ 175 58 536 57 360 411 77 96 107 124 323 300 79 51 72 56 36 96 128 -22 -20 -20 -19 -22 -5 -6 2017 2018 2019 2020 2021 1Q21 1Q22 2017 2018 2019 2020 2021
Slide 14: Performance Overview
PERFORMANCE OVERVIEW Liquidity Ratio 3.01x Short term 1.53x 18% Long Term 112 171 Average life of 338 262 4.5 years 82% 4Q21 1Q22 Short Term Debt ($mm) Liquidity Ratio S&E Farming & LT Net Debt/Adj. EBITDA LTM Average Interest 1.9x 1.9x 4.4% 931 BRL 7.4% 1.4x 731 USD 4.4% 23.3% ARS 36.7% 788 732 (1)
Slide 15: Thank You!
THANK YOU! Website: ir.adecoagro.com Charlie Boero Hughes - CFO Victoria Cabello - IRO chboero@adecoagro.com vcabello@adecoagro.com TEL: +5411 4836 8804 TEL: +5411 4836 8651