Sao Martinho S.a. · BMFBOVESPA:SMTO3
Sao Martinho — 3Q18 Earnings Presentation
10 slides from Sao Martinho's earnings presentation
Slide 1: Earnings Release Conference Call 3Q18 17/18 Harvest
Earnings Release Conference Call 3Q18 17/18 Harvest
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 t
Slide 3: Agenda
AGENDA 1. Operational Highlights 4. Indebtedness 2. Financial Highlights 5. Inventories 3. Cash COGS 6. Hedge
Slide 4: Operational Highlights
Operational Highlights Table 1 OPERATING DATA 16/17 17/18 YoY (%) Crop Year Crop Year São Martinho - Consolidated Crushing ('000 tons) 19,281 22,206 15.2% Own 13,398 15,191 13.4% Third Parties 5,883 7,015 19.2% Production Sugar ('000 tons) 1,301 1,407 8.2% Anhydrous ('000 m3) 398 487 22.4% Hydrous (
Slide 5: Financial Highlights
Financial Highlights Table 1 Graph 1 SUGAR Graph 2 ETHANOL R$ ‘000 +1.9% 1.992,6 -12.8% Highlights 3Q17 3Q18 Chg. (%) 1,251.0 Net Revenue 739,325 899,679 224.2% 1,227.7 Adjusted EBITDA 341,638 497,440 45.6% +15.9% Adjusted EBITDA Margin 46.2% 55.3% 9.1 p.p. 1.736,6 328.1 Adjusted EBIT 155,816 277,82
Slide 6: Cash COGS
Cash COGS Sugar (R$/ton) Ethanol (R$/m³) Ethanol (R$/m³) COGS – Sugar and Ethanol (R$ ‘000) -23.2% 322 314 260 62 53 -25.0% 932 3Q17 Consecana 3Q17 3Q18 574 716 Price Adjusted 431 TRS Sold (‘000 ton) 592 +27.6% 755 Unit Cost (COGS/ TRS) -23.7% 3Q17 3Q18 3Q17 3Q18 545 416 Sugar (R$/ton) Ethanol (R$/m
Slide 7: Indebtedness
Indebtedness Table 1 Graph 1 Graph 2 INDEBTEDNESS Mar/17 Dec/17 Chg%. CURRENCY - GROSS CURRENCY - NET R$ '000 Indebtedness in foreign exchange 1,217,557 1,049,070 -13.8% USD USD BNDES 842,630 693,665 -17.7% 25% 24% Working Capital and Others 1,371,682 1,543,988 12.6% Agribusiness Certificate of Rece
Slide 8: Inventories
Inventories Table 1 Inventories 3Q17 3Q18 Chg. (%) Sugar (tons) 390,015 430,321 10.3% Hydrous (m³) 50,134 172,860 244.8% Anhydrous (m³) 144,631 235,848 63.1% Graph 1 Ethanol Scenario* 1.924 1.892 1.825 1.744 1.720 1.595 1.557 1.579 1.520 1.473 1.512 1.424 1.371 Average Consumption: 1.8 bi liters Ave
Slide 9: Hedge
Hedge Table 1 Volume Avg. Price Avg. Price Hedged (US$ c/p) (R$ /ton) ('000 tons) Sugar Crop year 2017/2018 346,727 17.29 1,273.4 Crop Year 2018/2019 404,693 15.80 1,163.9 Sugar Scenario* Graph 1 Sugar ‘000 tons 1,130 70% own sugarcane On this scenario we would have 50% of own sugarcan fixed. Etha
Slide 10: Contacts - IR
Contacts - IR Felipe Vicchiato CFO e IRO Aline Reigada IR Manager Letícia Montagnani IR Senior Analyst Telephone: +55 11 2105-4100 E-mail: ri@saomartinho.com.br Website: www.saomartinho.com.br/ir 10