Bioceres Crop Solutions Corp. · NASDAQ:BIOX
Bioceres Crop Solutions — Q3 2023 Earnings Presentation
17 slides from Bioceres Crop Solutions's earnings presentation, May 11, 2023
Slide 1: Third Quarter 2023
BIOCERES CROP SOLUTIONS FISCAL Third Quarter 2023 THIRD QUARTER 2023
Slide 2: Disclaimer
BIOCERES CROP SOLUTIONS Disclaimer This Presentation is for informational purposes only and does not constitute an offer or invitation to sell, a solicitation Financial Information Presentation of an offer to buy, or a recommendation to purchase any equity, assets, business, debt or other financial
Slide 3: Key Business & Financial Highlights
BIOCERES CROP SOLUTIONS Key 3Q23 revenues up 33%, with top-line growth primarily driven by Business initial proceeds from strategic partnership with Syngenta. LTM adjusted EBITDA at $85.3 million & Financial Brazil’s National Biosafety Commission provided HB4 Wheat full Highlights approval for comme
Slide 4: YTD Revenue Evolution
BIOCERES CROP SOLUTIONS YTD Revenue Evolution Outstanding revenue performance with Historical drought in Argentina, Recognition of initial proceeds from +28% robust growth across all segments. partially offset by growth in strategic partnership with Syngenta Advanced sales in anticipation of the Nor
Slide 5: 3Q23 Revenue by Segment
BIOCERES CROP SOLUTIONS 3Q23 3Q22 Pro forma1 3Q23 Revenue ($ Million) by Segment 21.3 43.5 +104% 70.6 45.9 93.6 44.4 03 Recognition of revenues from -3% Syngenta agreement to compensate 04 for transition costs as countries are 3.5 05 onboarded in CY23 06 5.7 +65% Negative impact of the extended drou
Slide 6: 3Q23 Gross Profit Contribution by Segment
BIOCERES CROP SOLUTIONS 3Q23Gross Profit +84% YoY Contribution ($ Million) by Segment 25.5 57.5 04 Crop Nutrition profit increase and margin expansion explained by recognition of Syngenta proceeds, 31.3 1.6 05 (1.0) more than offsetting the decrease in fertilizer sales 06 07 Crop Protection decrease
Slide 7: 3Q23 Adjusted EBITDA
BIOCERES CROP SOLUTIONS 3Q23 Adjusted EBITDA ($ Million) 1.4 0.6 3.1 Proceeds from the Syngenta agreement 35.8 28.0 flow directly into EBITDA, explaining the substantial increase during the quarter 05 06 07 The decrease in SG&A was mainly driven by proactive cost control measures in 08 Argentina and
Slide 8: Balance Sheet & Cash Position
BIOCERES CROP SOLUTIONS Balance Sheet & Cash Position Net Debt 3.06x 2.10x Net debt-to-LTM adjusted EBITDA Adj. EBITDA was 2.10x in 3Q23 compared with 3.06x in 3Q22 and 3.13x in the 250.1 previous quarter. The improvement 06 ($ Million) results from the increase in 3Q23 145.1 adjusted EBITDA 07 205.
Slide 9: HB4 Wheat Full Approval in Brazil significantly increases market opportunity
BIOCERES CROP SOLUTIONS HB4 Wheat Full Approval in Brazil significantly increases market opportunity HB4 food & Request for feed approval grain import HB4 cultivation (flour import) and cultivation approval Regulatory Brazilian cultivation approval adds 3.2M hectares to the Status 07 current HB4 opp
Slide 10: HB4 Soy Program in Brazil
BIOCERES CROP SOLUTIONS HB4 Soy Program in Brazil Maturity Group Proven outstanding performance of main HB4 variety in Brazil 6 34 8-9 08 56 17 6 09 17 17 61 10 11 100% 7-8 401 301 303 88% 76% 302 6-7 68% 61% 35% 24% 17% 5-6 THIRD QUARTER 2023 301 302 303 304 401 402 403 405 Off-season seed producti
Slide 11: HB4 Commercial Approach
BIOCERES CROP SOLUTIONS HB4 Commercial Approach Proprietary Channel Non-Proprietary Channel Identity-preserved Conventional Channel Third-party Licenses HB4 Program Counterpart Farmers B2C Multipliers B2B Distributors B2B Seed companies B2B 09 10 Bags of original seed Bags of original seed Bags of c
Slide 12: Our Approach To Sustainability
BIOCERES CROP SOLUTIONS Our Approach To Sustainability We foster innovation to promote plant health and Lead the overall agricultural climate resiliency while regenerative agriculture simultaneously reducing synthetic chemical inputs transition 10 Ecotoxicological scoring 11 on HB4 inventories Carbo
Slide 13: Sustainability Indicators on HB4 Wheat Inventories
BIOCERES CROP SOLUTIONS Sustainability Indicators on HB4 Wheat Inventories HB4 Non-HB4 Water Footprint 965 1,001 ~5% 292 447 Index (L H2O/kg) reduction Farmers Fields 11 Carbon Footprint ~30% 2 ~80K 12 Index (kg CO2eq/ton) 277 405 reduction Seasons HA 13 Summary of the 2021/22 and 2022/23 Wheat seas
Slide 14: Exhibits
BIOCERES CROP SOLUTIONS Exhibits THIRD QUARTER 2023
Slide 15: Unaudited Consolidated Statement of Comprehensive Income
BIOCERES CROP SOLUTIONS Unaudited Consolidated Statement of Comprehensive Income Three-month period Three-month period ended 03/31/2023 ended 03/31/2022 Total revenue 93,605,392 69,482,518 Cost of sales (36,137,759) (45,823,445) Gross profit 57,467,633 23,659,073 % Gross profit 61% 34% Operating exp
Slide 16: Unaudited Consolidated Statement of Financial Position
BIOCERES CROP SOLUTIONS Unaudited Consolidated Statement of Financial Position ASSETS 03/31/2023 06/30/2022 LIABILITIES 03/31/2023 06/30/2022 CURRENT ASSETS CURRENT LIABILITIES Trade and other payables 150,174,333 125,849,620 Cash and cash equivalents 57,737,138 33,475,266 Borrowings 104,986,796 71,
Slide 17: Contact Us
BIOCERES CROP SOLUTIONS Contact Us Investor Relations Investorrelations@biocerescrops.com Investors.biocerescrops.com THIRD QUARTER 2023
Bioceres Crop Solutions — Q3 2023 Earnings Presentation on 6ix