Sao Martinho S.a. · BMFBOVESPA:SMTO3
Sao Martinho — 1Q21 Earnings Presentation
10 slides from Sao Martinho's earnings presentation
Slide 1: Results 1st Quarter 2020/2021 Harvest
Results 1st Q u a r t e r 2020/2021 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. Hedge Position 3. Cash Cost 6. Sugar and Ethanol Market 33
Slide 4: Operational Highlights
Operational Highlights OPERATIONAL DATA 1Q20 1Q21 Chg.(%) Crushed Sugarcane (‘000 tons) 9,042 10,020 10.8% Own 6,246 6,810 9.0% Third Parties 2,796 3,210 14.8% Mechanized Harvest 100% 100% 0.0 p.p. Agricultural Yield (ton/ha) 89.1 88.6 -0.6% Average TRS (kg/ton) 122.7 131.2 6.9% Production Sugar ('0
Slide 5: Financial Highlights
Financial Highlights R$ ‘000 Executive Summary 1Q20 1Q21 Chg. (%) Net Revenue¹ 754,934 1,024,858 35.8% Adjusted EBITDA 348,383 491,443 41.1% Adjusted EBITDA Margin 46.1% 48.0% 1.8 p.p. Adjusted EBIT 118,326 184,197 55.7% Adjusted EBIT Margin 15.7% 18.0% 2.3 p.p. Net Income without IFRS 16 effects 96
Slide 6: Cash Cost including Maintenance Capex
Cash Cost including Maintenance Capex SUGAR ETHANOL (R$/ton) (R$/m3) -14.3% +16.9% 1,843 1,579 1,291 1,105 Price Δ Margin Δ Margin +20.9 p.p. -1.4 p.p. -12.8% -9.6% 1,494 1,302 Total 1,020 922 Cash Cost¹ 1Q20 1Q21 1Q20 1Q21 1 - The total cash cost of the products considers: COGS + selling expenses +
Slide 7: Indebtedness
Indebtedness Currency - Gross Mar/20 Jun/20 Chg.% R$ '000 Gross Debt 4,841,376 4,622,553 -4.5% Cash and Cash Equiv alents 1,962,065 1,680,689 -14.3% BBB- Net Debt 2,879,311 2,941,864 2.2% Investment Grade Net Debt / LTM EBI TDA - R$ 1.55 x 1.47 x -5.1% USD Global Scale R$ Net Debt / LTM EBI TDA - US
Slide 8: Sugar Market and Hedge Position
Sugar Market Sugar and Ethanol (in sugar equivalent) Prices Sugar premium compared to 17 ethanol remuneration: 26% (average from april to july/20) 15 13 11 9 7 apr-19 may-19 jun-19 jul-19 aug-19 sep-19 nov-19 dec-19 jan-20 feb-20 mar-20 apr-20 may-20 jul-20 Ethanol in sugar equivalent (USD cents/pou
Slide 9: Ethanol Market
Ethanol Market Price recovery movement, at similar levels in the same Ethanol Consumption and Price 2,159 2,198 period of the previous year, 2,094 1,993 even with lower demand 1,916 1,897 1,945 1,798 1,784 1,826 1,799 1,738 1,761 1,749 1,747 1,691 1,649 1,466 1,508 2.9 2.7 2.8 2.7 2.9 2.7 2.7 2.5 2.
Slide 10: Investor Relations Contacts
Investor Relations Contacts +55 11 2105-4100 ri@saomartinho.com.br www.saomartinho.com.br/ir