Bioceres Crop Solutions Corp. · NASDAQ:BIOX
Bioceres Crop Solutions — Q1 2021 Earnings Presentation
21 slides from Bioceres Crop Solutions's earnings presentation, Nov 12, 2020
Slide 1: First Quarter Fiscal Year 2021
First Quarter Fiscal Year 2021 BIOCERES CROP SOLUTIONS
Slide 2: Disclaimer
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 instruments Historical f
Slide 3: Key Business & Financial Highlights
Key Business & Financial Highlights Acquisition of Verdeca Interest and Other IP Assets Full ownership of HB4® Soy In-lincensing of quality traits for LatAm Wheat Acquisition of other IP rights HB4 Wheat Approval Technology breakthrough in Global Wheat Value Chain Argentina’s approval of HB4® Wheat,
Slide 4: Main Assets Acquired
Main Assets Acquired Incremental Verdeca Interest Full HB4 Soybean ownership Exclusivity on other traits in soybean Ownership of vetted library of gene edited soybean materials. Enabling cost-effective development of new quality and production traits 4
Slide 5: Main Rights in-licensed
Main Rights in-licensed Wheat Biotech Portfolio Resistant Starch Resistant Starch varieties digest more slowly and have a lower glycemic index than traditional wheat Reduced Gluten Reduced Gluten varieties have all the taste and performance of regular flour, but with 65% less allergenic gluten Oxida
Slide 6: Acquisition of Verdeca Interest and Other IP Assets
Acquisition of Verdeca Interest and Other IP Assets Transaction Considerations $32M $5M in cash $20M At closing $15M in BIOX stock at $82 Up to $12M1 Tagged to future HB4® revenues and milestones Notes: 1. Wheat-related royalties and $ 1M of fees to be reimbursed not included 2. 1.875 M shares issue
Slide 7: HB4 Wheat Approval
HB4 Wheat Approval rtve.es The Telegrapl® covocnieus news Posrics Spo Busine nh Life Styte Tr Argentina to produce climate-resistant super wheat in world first It ls hoped that the geno edited crop will reduce water stress and food scarcity across the Se Monde L’Argentine devient le premier pays a a
Slide 8: HB4 Wheat Approval
HB4 Wheat Approval 1 2 Biotech orphan crop Growers´ benefits Planted Yield increase under +20% hectares per year2 average drought 217M conditions 193M 122M 160M 3 Reduced 1 44 24 9 water and Wheat Corn Soy Rice # traits approved¹ carbon 6 months ¹ ISAAA footprints Emission removal per 2 Average 2014
Slide 9: Conditions to Launch in a Given Geography
Conditions to Launch in a Given Geography Once regulatory clearance is achieved: 1. Satisfying requirements of resolution granting regulatory approval (i.e. Brazil import permit following the recent of Argentinean approval) 2. Obtain approval in export destinations representing more than 5% of total
Slide 10: HB4 Wheat Go-to-Market Road Map
HB4® Wheat Go-to-Market Road Map Regulatory presentation in main wheat producing countries Argentina Near Term Uruguay 9.5M (2021 – 2023) Paraguay 13% Brazil South Africa 217M ha Mid Term 100% (2023 – 2025) United States 25.3M +22% Total Wheat Bolivia¹ Market Australia Long Term 100% 72.5M (After 20
Slide 11: Regulatory Approval Removes Major Operational Challenges
Regulatory Approval Removes Major Operational Challenges From thousands to hundred of thousands hectares 2021 (ii) Inventory Ramp-up of Eco Wheat varieties (i) Drought tolerance technology Seed/Grain Produced High-tech adjuvants 2020 Up to Up to Microbeaded fertilizers EcoFields full dataset Customi
Slide 12: Dry Winter Season demonstrates and Underscores HB4 Wheat Full Potential
Dry Winter Season demonstrates and Underscores HB4 Wheat Full Potential 12
Slide 13: Quarterly Net Revenue Growth
Quarterly Net Revenue Growth $ Millions +8%; maintaining momentum of fourth quarter 9% CAGR¹ 53.9 57.0 51.9 42.4 36.3 29.6 42.2 39.1 35.4 35.5 23.9 26.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY19 FY20 FY21 Note: Seasonality 1. First quarter comparable revenues CAGR (%) Low High As Reported Comparable 13
Slide 14: Comparable Revenue Bridge & Gross Margins
Comparable Revenue Bridge & Gross Margins Comparable revenues +8% YoY 50 3.1 42.4 $ Millions 45 2.1 - 2.1 40 36.3 42.2 35 39.1 30 Seed treatment Micro beaded Adjuvants Fertilizer 25 Packs 20 15 Inoculants 10 5 0 1Q20 Crop Protection Seed and Integrated Crop Nutrition 1Q21 Products Gross % % % % % %
Slide 15: Comparable Gross Profit Contribution per segment
Comparable Gross Profit Contribution per segment Gross Profit +13% YoY 25 2.1 0.4 20 19.2 $ Millions - 0.3 15.9 20.0 15 17.8 10 5 0 1Q20 Crop Protection Seed and Integrated Crop Nutrition 1Q21 Products As Reported Comparable 15
Slide 16: Adjusted EBITDA & Margin
Adjusted EBITDA & Margin Adj. EBITDA 22.4% 24.9% Margin 14 Adj. EBITDA +30% YoY $ Millions 12 0.8 0.2 2.4 10 - 1.0 - 0.1 10.5 8 8.1 6 4 2 0 Adjusted Comparable IAS 29 Operating JV’s Other Income Adjusted EBITDA 1Q20 Gross Profit1 Gross Profit Expenses or Expenses EBITDA 1Q21 Note: As reported figure
Slide 17: Strong balance sheet
Strong balance sheet: Increased Liquidity and Improved Debt Profile Raised $17 M in public corporate bonds due August 2023 at 0.0% nominal rate Improved debt maturity profile: long-term debt at 62% of total debt, up from 33% in 1Q20 Enhanced financial liquidity: cash & equivalents represent ~96% of
Slide 18: Exhibits
$97 BIOCERES "CROP SOLUTIONS
Slide 19: Unaudited Consolidated Statement of Comprehensive Income
Unaudited Consolidated Statement of Comprehensive Income Figures in $ Millions Three-month period ended Three-month period ended 09/30/2020 09/30/2019 Total revenue 42,355,261 36,251,658 Cost of sales (23,108,239) (20,345,074) Gross profit 19,247,022 15,906,584 % Gross profit 45% 44% Operating expen
Slide 20: Unaudited Consolidated Statement of Financial Position
Unaudited Consolidated Statement LIABILITIES 09/30/2020 06/30/2020 of Financial Position CURRENT LIABILITIES Figures in $ Millions Trade and other payables 54,732,583 57,289,862 ASSETS 09/30/2020 06/30/2020 Borrowings 62,013,941 63,721,735 CURRENT ASSETS Employee benefits and social security 4,892,7
Slide 21: Contact Us
Contact Us Investor Relations Investorrelations@biocerescrops.com (54) 0341 4861100 Investors.biocerescrops.com 21
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