Sao Martinho S.a. · BMFBOVESPA:SMTO3
Sao Martinho — Q3 2023/2024 Harvest Earnings Presentation
9 slides from Sao Martinho's earnings presentation, Feb 9, 2024
Slide 1: 3rd Quarter Results 2023/2024 Harvest
3rd Quarter Results 2023/2024 Harvest FEBRUARY 9th,2024
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 th
Slide 3: Agenda
AGENDA 1 Operational Highlights 2 Financial Highlights 3 Cash Cost 4 Ethanol Market 5 Sugar Market 3
Slide 4: Operational Highlights
OPERATIONAL HIGHLIGHTS Productivity: TCH +19.2% • Climate normalization (oct/22 - ∆ 9M24 9M23 9M24/9M23 sep/23) Operational Data • Special agricultural management Agricultural - Sugarcane Crushed Sugarcane (‘000 tons) 23,067.0 20,024.1 15.2% and crop treatments Own 15,985.0 13,964.4 14.5% investment
Slide 5: Financial Highlights
FINANCIAL HIGHLIGHTS ∆ 3Q24 3Q23 3Q24/3Q23 Net Revenue¹ 1,609,291 1,534,656 4.9% Adjusted EBITDA 703,845 774,994 -9.2% Adjusted EBITDA Margin 43.7% 50.5% -6.8 p.p Adjusted EBIT 250,318 357,232 -29.9% Adjusted EBIT Margin 15.6% 23.3% -7.7 p.p Copersucar Rights - 475,761 n.m. Adjustments on EBIT (61,0
Slide 6: Cash Cost: Sugar and Ethanol
CASH COST: SUGAR E ETHANOL Accumulated (9M) Accumulated (12M) Evolution +5,3% (R$/ton) +11,0% Sugar 1.793 1.990 1.885 1.985 9M23 9M24 12M23 12M24e Ethanol (R$/m3) -10,9% -9,7% 2.682 2.390 2.713 2.451 9M23 9M24 12M23 12M24e (R$/ton) +4,9% -1,0% TRS 1.594 1.672 1,675 1,658 9M23 9M24 12M23 12M24e 6
Slide 7: Ethanol Market: Behavior
ETHANOL MARKET: BEHAVIOR Historically decreases in ethanol parity have led to increases in Ethanol´s Otto-Cycle Participation. However, currently the market response is taking time to occur despite the persistence of low parity levels. 80% 77% 78% 78% 75% Ethanol x Gasoline 73% 72% 72% Parity (%) 70
Slide 8: Sugar Market: Supply and Demand, Hedge Position
SUGAR MARKET SUGAR – 9M24 (REALIZED - R$/TON) SUPPLY AND DEMAND (MM TON; DATAGRO 02/24) Price 2,435 1,7 0,3 0,4 Own Cane 2,365 -0,1 -1,5 -3,1 Consecana 2,639 -6,2 18/19 19/20 20/21 21/22 22/23 23/24E 24/25E + 14.2% Sugar hedged Avg. Price Avg. Price HEDGE POSITION SUGAR – Own cane (tons) (USD c/p) (
Slide 9: Investor Relations
INVESTOR RELATIONS +55 11 2105-4100 ri@saomartinho.com.br www.saomartinho.com.br/ri www.saomartinho.com.br
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