Sao Martinho S.a. · BMFBOVESPA:SMTO3
Sao Martinho — 2Q21 Earnings Presentation
10 slides from Sao Martinho's earnings presentation, November 2020
Slide 1: Results 2nd Quarter 2020/2021 Harvest
Results 2nd 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 5. Hedge Position 2. Financial Highlights 6. Sugar Market 3. Cash Cost 7. Ethanol Market 4. Indebtedness 33
Slide 4: Operational Highlights
Operational Highlights OPERATIONAL DATA 6M20 6M21 Chg.(%) Crushed Sugarcane (‘000 tons) 18,924 20,117 6.3% Own 12,551 13,697 9.1% Third Parties 6,373 6,420 0.7% Agricultural Yield (ton/ha) 85.4 84.6 -0.9% Average TRS (kg/ton) 136.7 143.7 5.1% Production Sugar ('000 tons) 959 1,337 39.4% Ethanol ('00
Slide 5: Financial Highlights
Financial Highlights R$ ‘000 Executive Summary 2Q20 2Q21 Chg. (%) 6M20 6M21 Chg. (%) Net Revenue¹ 770,096 925,504 20.2% 1,525,030 1,951,658 28.0% Adjusted EBITDA 387,858 476,248 22.8% 736,240 967,691 31.4% Adjusted EBITDA Margin 50.4% 51.5% 1.1 p.p. 48.3% 49.6% 1.3 p.p. Adjusted EBIT 166,341 214,742
Slide 6: Cash Cost including Maintenance Capex
Cash Cost including Maintenance Capex SUGAR ETHANOL (R$/ton) (R$/m3) -5.3% +13.6% 1,857 1,758 1,243 1,094 Price Δ Margin Δ Margin -7.6% +17.4 p.p. -5.6% +0.2 p.p. 1,024 1,499 1,415 Total 947 Cash Cost¹ 6M20 6M21 6M20 6M21 1 - The total cash cost of the products considers: COGS + selling expenses + g
Slide 7: Indebtedness
Indebtedness Currency - Gross Mar/20 Sep/20 Chg.% R$ '000 Gross Debt 4,841,376 4,751,141 -1.9% Cash and Cash Equiv alents 1,962,066 1,871,124 -4.6% BBB- Net Debt 2,879,311 2,880,017 0.0% Investment Grade USD Global Scale Net Debt / LTM EBITDA - R$ 1.55x 1.38x -11.1% 45% 1.23x 1.18x -3.7% R$ Net Debt
Slide 8: Sugar Market and Hedge Position
Sugar Market Prices in BRL at Sugar and Ethanol Prices Sugar Price in BRL historical highs (in sugar equivalent) Sugar premium compared to ethanol remuneration: 27% (average from april to october/20) 81 17 15 45 5,38 13 15 11 4,17 9 11 7 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Apr-20 May-20 Jun-20
Slide 9: Ethanol Market
Ethanol Market Ethanol Consumption and Price 2,198 2,159 2,113 2,094 1,993 1,916 1,942 1,897 1,945 1,826 1,799 1,835 1,798 1,784 1,738 1,761 1,749 1,722 1,691 1,649 1,508 1,466 2.9 2.8 2.7 2.9 2.7 2.7 2.7 2.5 2.5 2.5 2.5 2.5 2.5 2.4 2.3 2.3 2.4 0.8 0.8 2.2 2.0 2.1 0.8 0.8 0.7 0.8 0.7 0.7 0.8 0.6 0.7
Slide 10: Investor Relations Contacts
Investor Relations Contacts +55 11 2105-4100 ri@saomartinho.com.br www.saomartinho.com.br/ir