Sao Martinho S.a. · BMFBOVESPA:SMTO3
Sao Martinho — 1Q19 Earnings Presentation
9 slides from Sao Martinho's earnings presentation
Slide 1: Earnings Release Conference Call 1Q19
Earnings Release Conference Call 1Q19
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. Hedge 2. Financial Highlights 5. Ethanol 3. Indebtedness 3
Slide 4: Operational Highlights
Operational Highlights Table 1 Table 2 OPERATIONAL DATA 1Q19 1Q18 Chg.(%) Guidance 1Q19/Guidance PRODUCTION 18/19 Crop 1Q19 Crushed Sugarcane (‘000 tons) 9,508 8,739 8.8% 18/19 Own 6,527 5,966 9.4% Year Third Parties 2,981 2,773 7.5% Cane Crushed ('000 tons) 20.570 9.508 46,2% Mechanized Harvest 100
Slide 5: Financial Highlights
Financial Highlights Table 1 Graph 1 SUGAR Graph 2 ETHANOL Graph 3 COGEN R$ ‘000 (‘000 tons-R$/ton) (‘000 m3-R$/m3) (‘000 MWh-R$/MWh) 1Q19 1Q18 Chg. (%) Net Revenue¹ 771,166 867,856 -11.1% Adjusted EBITDA 401,390 475,340 -15.6% Adjusted EBITDA Margin 52.0% 54.8% -2.7 p.p. Adjusted EBIT 198,124 273,1
Slide 6: Indebtedness
Indebtedness Table 1 Jun/18 Mar/18 Chg.% R$ '000 CURRENCY - GROSS CURRENCY - NET PESA 23,974 29,225 -18.0% Graph 2 Graph 3 Rural Credit 760,449 509,214 49.3% BNDES / FINAME 551,262 582,203 -5.3% Working Capital 293,177 397,336 -26.2% International Finance Corporation (IFC) 348,493 303,797 14.7% PPE
Slide 7: Hedge
Hedge Table 1 Volume Avg. Price Avg. Price Hedged (US$ c/p) (R$/Ton) ('000 tons) Sugar 2018/2019 crop year 504,519 14.49 1,126¹ 87% of own cane hedged 2019/2020 crop year 110,038 13.93 1 - Considering the hedged v olume in sugar and MTM of v olume to hedge 1,187¹ 16% of own cane hedged 7
Slide 8: Ethanol
Ethanol Consumption Graph 1 1,892 1,899 1,873 1,825 1,579 1,720 1,628 1,632 1,716 Market share1 1,557 1,572 1,520 1,512 1,473 1,424 1,371 Graph 3 Graph 4 2.5 2.4 2.2 2.2 2.3 2.3 2.2 2.1 2.2 2.0 2.0 1.9 1.9 1.9 1.9 1.6 26% 37% Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-
Slide 9: Contacts - IR
Contacts - IR Felipe Vicchiato Aline Reigada Phone: +55 11 2105-4100 CFO and IRO IR Manager E-mail: ri@saomartinho.com.br Luiza Chaves Website: www.saomartinho.com.br/ir IR Consultant