Sao Martinho S.a. · BMFBOVESPA:SMTO3
Sao Martinho — 2Q10 Earnings Presentation
8 slides from Sao Martinho's earnings presentation, November 2009
Slide 1: 2Q10 Earnings Conference Call
2Q10 Earnings Conference Call 2009/2010 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 the
Slide 3: 2Q10 Highlights
2Q10 HIGHLIGHTS Strong growth in Net Revenue and Adjusted EBITDA; Adjusted EBITDA plus results of our sugar and dollar hedge positions amounted R$ 94.8 million; R$ 18 million Investments will be earmarked to increase production flexibility at the São Martinho and Iracema units (+120,000 tons already
Slide 4: Ethanol Market
ETHANOL MARKET Chart 1 Ethanol Prices Revised UNICA estimate calls for ethanol output 2.6 billion liters lower than in the 4Q09 1Q10 2Q10 1.20 initial forecast; 1.10 Adverse weather negatively impacts 1.00 sugarcane quality and crushing R$ / LITER 0.90 operations; 0.80 0.70 From January 2009 to Sept
Slide 5: Sugar Market
SUGAR MARKET Table 1 Hedge Position – Sugar São Martinho Group Strong rally in sugar prices Volume Average Price Tonnes US$ ¢ / pound supported by lower sugar supply in India; Inventories 2Q10 265,362 2009/10 Harvest Remaining Production 194,393 On September 30, São 2009/10 Harvest Martinho Group ha
Slide 6: Operating / Financial
OPERATING / FINANCIAL Guidance Revision Net Debt Evolution 2009/10 Harvest R$ - Million Chart 1 Chart 3 Crushing and total TRS - 1st Estimate Net Debt / EBITDA - Evolution Crushing and total TRS - 2nd Estimate 6.5 x 5.7 x 5.7 x 5.0 x 4.2 x 1.894 3.7 x TRS - ('000 T) - 5.5% 1,003.1 941.5 933.7 981.8
Slide 7: Quarterly Results
QUARTERLY RESULTS Table 1 2Q10 2Q09 Change Net Revenue 286,297 194,313 +47.3 % Adjusted EBITDA 76,502 34,974 +118.7 % Adjusted EBITDA Margin 26.7% 18.0% +8.7 p.p. Impact - Hedge 18,304 n.m. n.m. EBITDA (Hedge) 94,806 n.m. n.m. EBITDA Hedge Margin 33.1% n.m. n.m. Net Income 20,249 (42,428) n.m. Chart
Slide 8: IR Contacts
IR Contacts João do Val CFO and IR Officer Felipe Vicchiato Investor Relations Alexandre Gorla Investor Relations Analyst João Carvalho do Val - Diretor Financeiro e de Relação com Investidores Denise Araújo Phone: +55 11Francisco 2105-4100 Gerente de RI E-mail: ri@saomartinho.ind.br denise.francisc