Sao Martinho S.a. · BMFBOVESPA:SMTO3
Sao Martinho — 2Q15 Earnings Presentation
10 slides from Sao Martinho's earnings presentation, November 2014
Slide 1: Earnings Release Conference Call 14/15 Season 2Q15
Earnings Release Conference Call 14/15 Season 2Q15
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 Main Events of the Quarter 4 Real Estate Developments 2 Operational Highlights 5 Indebtedness 3 Financial Highlights 6 Hedging 3
Slide 4: Main Events of the Quarter
Main Events of the Quarter In August 8th, 2014 – closing of the purchase of 56.05% of USC and sale of 34.29% of APBV as Material Fact published in May this year. Impact in the Financial Statements: Balance Sheet Consolidation of 100% of USC’s assets and liabilites. Income Statement Conso
Slide 5: Operational Highlights
Operational Highlights Table 1 6M14 6M15* Guidance Percentage Chg.% Production Production 12M15* Achieved Sugarcane Crushed ('000 tons) 11,640 15,158 30.2% 19,640 77.2% Agricultural Yield (ton/ha) 100.00 87.56 -12.4% - - Average TRS (kg/ton) 137.01 141.04 2.9% - - Production Sugar ('000 tons) 763 98
Slide 6: Financial Highlights
Financial Highlights Graph 2 Table 1 Graph 1 SUGAR ETHANOL 2Q14 2Q15 Chg.(%) -1.5% -4.7% 1,287.2 1,267.9 911.2 868.8 Net Revenue 614,494 526,227 -14.4% -25.0% -11.5% 324.9 COGS (cash) (308,024) (216,132) -29.8% 17.5 287.5 177.0 21.3 132.8 87.5 307.4 266.2 Adjusted EBITDA 238,669 256,918 +7.6% 114.8
Slide 7: Real Estate Development
Real Estate Development Revenue Recognized Real Estate Development Total project Potential sales NPV in the Quarter in progress area Project Total for Vale do Mogi 2Q15 In m² R$ '000 R$ '000 Property sales 41,600 - - 4,534 Projects launched 556,866 123,000 43,959 13,210 Recanto das Paineiras 376,566
Slide 8: Indebtedness
Indebtedness Graph 1 Table 1 CURRENCY INDEBTEDNESS Mar/14 Sep/14 Chg%. Interest paid R$ '000 PESA 70,616 55,435 -21.5% BNDES 697,593 822,166 17.9% Indebtedness in foreign exchange 1,122,978 1,438,570 28.1% USD + 3,71% p.y. Obligations from acquisitions - LOP - 86,252 n.m. CDI Obligations from acquis
Slide 9: Hedging
Hedging 14/15 Season 15/16 Season Table 1 Table 2 Volume Average Percentage Volume Average Percentage Hedged Price of Own Hedged Price of Own ('000 tons) (US$ c/p) Sugarcane ('000 tons) (US$ c/p) Sugarcane Sugar Sugar Oct/14 (V14) 335,604 16.94 100.0% May/15 (K15) 31,497 17.59 12.6% Mar/15 (H15) 238
Slide 10: IR - Contacts
IR - Contacts Telephone: +55 11 2105-4100 E-mail: ir@saomartinho.com.br Website: www.saomartinho.com.br/ir 10