Bioceres Crop Solutions Corp. · NASDAQ:BIOX
Bioceres Crop Solutions — Q1 FY2022 Earnings Presentation
17 slides from Bioceres Crop Solutions's earnings presentation, 2022
Slide 1: First Quarter Fiscal Year 2022 Financial and Operating Results
First Quarter Fiscal Year 2022 Financial and Operating Results
Slide 2: Disclaimer
Disclaimer This Presentation is for informational purposes only and does not constitute an offer or invitation to sell, a solicitation of an offer Financial Information Presentation to buy, or a recommendation to purchase any equity, assets, business, debt or other financial instruments of the Compa
Slide 3: Key Business & Financial Highlights
Key Business & Financial Highlights Comparable revenues increased by 54% YoY, and LTM Adjusted EBITDA reached $50.2M HB4 roll-out on track and no additional regulatory information requested since September Report Ecotoxicological scoring added to ESG Report on HB4 inventories $16.1 million financing
Slide 4: Top-Line Double-Digit Growth Trajectory
Top-Line Double-Digit Growth Trajectory Crop Nutrition and Crop Protection segments accelerating growth FY22 First Quarter YoY Quarterly Growth +54% Crop Nutrition segment up 83% YoY, on solid execution +39% of micro-beaded fertilizers +35% ramp-up strategy -17% 72.4 Strong Crop Protection 64.8 perf
Slide 5: HB4 Program Update
HB4 Program Update HB4 Soy planting HB4 Wheat harvest Early Season Late Season 10% Complete 0% No additional information has been formally requested by Brazilian and Chinese regulatory authorities regarding HB4 Wheat and Soy, respectively 5
Slide 6: HB4 Digital Process Enables Full Traceability
HB4 Digital Process Enables Full Traceability Digital onboarding and Contract with Work orders & crop GPS tracking “farming as a service” IoT devices selected scouting interface system contract execution processor Crop Grain Grain Grain Cycle Storage Logistics Processing Geo-referenced fields Invent
Slide 7: Ecotoxicological Scoring Added to ESG Report on HB4 Inventories
Ecotoxicological Scoring Added to ESG Report on HB4 Inventories Carbon and water footprint analyses in place enables the incorporation of additional high-value sustainability aspects Data Input HB4 vs Conventional Ecotoxicological footprint Ag inputs characteristics applied during the entire crop cy
Slide 8: Quarterly Net Revenue Growth
Quarterly Net Revenue Growth LTM total comparable revenues +24% $ Million LTM 1Q21 $177M¹ LTM 1Q22 $220M¹ 72.4 66.9 64.8 57.2 51.9 As Reported 42.4 47.7 42.2 Comparable 35.0 26.0 Seasonality Low High 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FY20 FY21 FY22 ¹ LTM figures correspond to comparable revenues 8
Slide 9: Baseline Business Profitability Supporting HB4 Roll-out
Baseline Business Profitability Supporting HB4 Roll-out LTM Adjusted EBITDA confirms upward trend and fully accounts for pre-operational expenses related to HB4 Program 1Q22 $50.2 million LTM Adjusted EBITDA accounts for: HB4 program pre-operational expenses, ahead of booking 220 corresponding sales
Slide 10: Comparable Revenue Bridge & Gross Margins
Comparable Revenue Bridge & Gross Margins Crop Protection segment benefited from the full impact of sales-force/channel Comparable Revenues +54% YoY re-organization, explaining 55% of the growth in the period 66.9 64.8 Crop Nutrition segment explained 44% of the 70 9.9 growth in the period, with mic
Slide 11: Comparable Gross Profit Contribution per segment
Comparable Gross Profit Contribution per segment Gross Profit +39% YoY 35 Crop Nutrition Gross Profit up 90% YoY 29.0 30 5.3 27.9 Crop Protection Gross Profit up 35% YoY 25 19.2 2.9 20.0 $ Million 20 (0.3) As Reported 15 Comparable 10 5 0 1Q21 Crop Seed and Crop 1Q22 Protection Integrated Nutrition
Slide 12: Adjusted EBITDA & Margin
Adjusted EBITDA & Margin Adj. EBITDA +18% YoY Growth momentum backs operating expenses related to the expansion of HB4 Program 1.9 FX and inflation dynamics in Arg 20 7.9 played a temporary negative role in operating expenses line 15 12.4 (6.3) $ Million 10.5 (0.5) 10 (1.2) 5 0 Adjusted Comparable I
Slide 13: Balance Sheet and Cash Position
Balance Sheet and Cash Position High working capital requirements to support HB4 roll-out and the run-up of the high season in sales in South America Net Debt 2.12x 3.05x 2.89x 2.61x 2.74x LTM EBITDA Current Debt 97.9 112.8 96.7 $ Million 101.1 75.1 137.6 134.2 Non-Current Debt 128.6 126.2 103.5 Cas
Slide 14: Exhibits
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Slide 15: Unaudited Consolidated Statement of Comprehensive Income
Unaudited Consolidated Statement of Comprehensive Income Three-month period ended Three-month period ended 09/30/2021 09/30/2020 Total revenue 66,906,245 42,355,261 Cost of sales (37,882,452) (23,112,642) Gross profit 29,023,793 19,242,619 % Gross profit 43% 45% Operating expenses (17,601,661) (11,1
Slide 16: Unaudited Consolidated Statement of Financial Position
Unaudited Consolidated Statement of Financial Position LIABILITIES 09/30/2021 06/30/2021 CURRENT LIABILITIES ASSETS 09/30/2021 06/30/2021 Trade and other payables 113,963,318 72,091,408 CURRENT ASSETS Borrowings 66,655,578 76,785,857 Cash and cash equivalents 36,631,549 36,046,113 Employee benefits
Slide 17: Contact Us
Contact Us Investor Relations Investorrelations@biocerescrops.com (54) 0341 4861100 Investors.biocerescrops.com 17
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