Adecoagro S.a. · NYSE:AGRO
Adecoagro — Investor Presentation (2023)
29 slides from Adecoagro's investor presentation, 2023
Slide 1: Adecoagro: A Sustainable Development Model
& adecoagro ADECOAGRO A SUSTAINABLE DEVELOPMENT MODEL
Slide 2: Our Project
OUR PROJECT ADECOAGRO WAS FOUNDED SINCE INCEPTION THE BY A GROUP OF GOAL WAS TO CREATE A ENTREPRENEURS WITH SUSTAINABLE EXPERIENCE IN THE SECTOR PRODUCTION MODEL 2
Slide 3: Index
INDEX 1 WHO WE ARE 2 OUR BUSINESS SEGMENTS 3 OUR SUSTAINABLE MODEL
Slide 4: Who We Are
S adecoagro
Slide 5: Who We Are
WHO WE ARE We are an We produce AGRIBUSINESS SUGAR, ETHANOL, ENERGY, GRAINS, RICE, PEANUTS AND COMPANY DAIRY PRODUCTS OF THE producing FOOD AND RENEWABLE ENERGIES HIGHEST QUALITY We operate We develop IN DIFFERENT REGIONS OF EFFICIENT AND BRAZIL, ARGENTINA SUSTAINABLE AND URUGUAY PROJECTS Y 5
Slide 6: Our Vision
OUR VISION WE WANT TO BE THE MOST EFFICIENT AND SUSTAINABLE PRODUCER OF FOOD AND RENEWABLE ENERGY. Profitable for our Good for the environment. shareholders. Focus on Source of carbon credits. returns. Efficient production models Good for our clients. Satisfy and continuous their needs with traceabl
Slide 7: Where We Are
WHERE WE ARE BRAZIL • 3 Sugar & Ethanol Mills • +193 thousand hectares of sugarcane • +10.5 million tons of sugarcane crushed per year • +1 million MWh of renewable energy generated per year NORTH OF ARGENTINA • 59 thousand hectares of special crops planted • Agriculture in our own farms NORTHEAST O
Slide 8: Our History
OUR HISTORY • Expansion of our crops business into Uruguay and Brazil • Consolidation of our Foundation of Adecoagro • Beginning of operations Listing in the New sugar, ethanol and in Argentina with the idea energy cluster of adopting a sustainable in the sugar, ethanol and York Stock energy busines
Slide 9: Our Evolution
OUR EVOLUTION 2,814 2,744 2,680 Sugar equivalent ('000 Tn) Farming Production ('000 Tn) 2,464 2,329 2,344 Total agricultural produced ('000 Tn) 2,292 Area under management ('000 Ha) Total renewable energy produced ('000 MWh) 1,975 1,849 1,564 1,389 1,236 1,215 1,194 1,104 1,092 1,106 1,070 1,030 966
Slide 10: Financial Overview - Adjusted EBITDA
FINANCIAL OVERVIEW - ADJUSTED EBITDA $ USD MM 437 433 342 314 305 298 276 216 215 181 150 142 96 29 3 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 (*) IN JANUARY 2011 ADECOAGRO WAS LISTED IN NYSE UNDER THE TICKER AGRO 10
Slide 11: Performance Overview
PERFORMANCE OVERVIEW 1,352 Adj. FCF from Operations Adj. FCF 1,098 152 141 899 892 822 109 770 80 94 79 68 71 52 7 -18 -61 2017 2018 2019 2020 2021 2022 2017 2018 2019 2020 2021 2022 Wheat Others 550 10% Energy 2% Ethanol 2% 29% Soybean 5% Corn 280 5% 63 80 Dairy 35 Sugar 18% 14% Rice 11 15% 2023 20
Slide 12: We Build a Culture Based on Our Values
WE BUILD A CULTURE BASED ON OUR VALUES TRANSPARENCY TRUST EFFICIENCY We are honest in our We generate solid We maximize relationships and work with and long-lasting our capacities. integrity. relationships. INNOVATION SUSTAINABILITY SAFETY We encourage We promote We promote a safe and creativity and
Slide 13: Our Team
OUR TEAM +9,700EMPLOYEES IN THE ADECOAGRO FAMILY WE ARE PASSIONATE FOR WHAT WE DO. WE CONTINUOUSLY WORK TOWARDS IMPROVING AND OUTPERFORMING OURSELVES 13
Slide 14: Our Business Segments
S adecoagro OUR BUSINESS SEGMENTS
Slide 15: Our Business Segments
OUR BUSINESS SEGMENTS BRAZIL ARGENTINA & URUGUAY SUGAR, ETHANOL & RICE CROPS DAIRY ENERGY 47% 15% 20% 17% 15 Note: Percentages represent segment contribution to Adecoagro’s 2022 gross sales.
Slide 16: Sugar, Ethanol and Energy Activity Brazil
SUGAR, ETHANOL AND ENERGY ACTIVITY BRAZIL +1 million +6,900 MWh/year employees + 193,000 Biofertilizers and SUGARCANE hectares biomethane Harvest of sugarcane in Mato Grosso do Sul 482,000 tons Vinasse Soil carbon sequestration and Minas Gerais of sugar production Crushing + 670 ETHANOL tractors and
Slide 17: Mato Grosso do Sul: A Completely New Development for the Region
MATO GROSSO DO SUL A COMPLETELY NEW DEVELOPMENT FOR THE REGION COMPETITIVE ADVANTAGES MS LOW HIGH TRS/HA CONTINUOUS COMPETITION FOR POTENTIAL HARVEST LAND MODEL + 185 THOUSAND HECTARES CLUSTER ANGELICA & IVINHEMA 13 MN TONS CRUSHING CAPACITY Ethanol Energy Sugar (m3) (MWh) (tons) HIGH ICMS TAX PRODU
Slide 18: Crops Activity Argentina & Uruguay
CROPS ACTIVITY ARGENTINA & URUGUAY Traceability 211,000 planted focused on quality hectares and safety In 9 provinces of Argentina and Uruguay 1 plant for peanut processing with 80,000 tons 50,000 hectares capacity of cover crops Dalmacio Vélez, Córdoba Good Farming Sustainable Practices Production
Slide 19: Rice Activity Argentina & Uruguay
RICE ACTIVITY ARGENTINA & URUGUAY Domestic and In-house production export market of seeds Traceability focused on quality 56,000 hectares and safety under irrigation (NE Argentina) Sustainable Advanced Indica & Japonica use of water technology in the field +400,000 tons Varieties include: produced L
Slide 20: Dairy Activity Argentina & Uruguay
DAIRY ACTIVITY ARGENTINA & URUGUAY Domestic and Cow feeding export market production Animal 14,400 milking High quality welfare cows in 4 high efficiency products free stalls 36 liters per cow per day 3 brands 36 Clean sand beds, cooling and hydration 1.4 MW systems Installed capacity of the biodige
Slide 21: Our Products
OUR PRODUCTS Fluid milk Renewable energy Rice Rice Powdered snacks Sugar milk Chocolate milk Milk cream Semihard cheese Organic sugar Chickpea Corn Wheat Sunflower Ethanol Soy Peas Beans seeds Peanuts 21
Slide 22: Our Sustainable Model
S adecoagro OUR SUSTAINABLE MODEL
Slide 23: Efficiency
EFFICIENCY LOW COST DIVERSIFICATION We produce each product where the combination of Our diversification is a natural hedge from climate risk and climate and soil enables us to be the lowest cost producer commodity price volatility INTEGRATION FLEXIBILITY We are present at each stage of the chain ad
Slide 24: Innovation
INNOVATION WE ENCOURAGE CREATIVITY AND ONGOING IMPROVEMENT IN EACH OF OUR BUSINESSES CLUSTER IN MATO DAIRY FARM WITH GROSSO DO SUL MAXIMUM PRODUCTIVITY • Meiosis technology and pre-sprouted seedling implementation (“muda”). • Optimal conditioning for animal welfare • Generation of biomethane from co
Slide 25: Environmental Management
ENVIRONMENTAL MANAGEMENT C I R C U L A R economy initiatives RENEWABLE ENERGY and R E G E N E R A T I V E agriculture projects Good practices: no till, cover crops, biological Pioneers in the sale of Cbios (Renovabio) pesticides, etc Zero level technology results in 30% of water Our biodigesters pro
Slide 26: Already Sequestering Carbon
CO2 ALREADY SEQUESTERING CARBON Crops and Plantations Food and Renewable Energy Nutrients and Sustainability is key Biofertilizers to sequester Carbon Organic Carbon Carbon Credits Carbon Sink 26
Slide 27: Social Development
SOCIAL DEVELOPMENT FOOD SAFETY AND QUALITY LOCAL JOB CREATION GFSI certifications among others Providing equal opportunities H E A L T H A N D S A F E T Y at work CO M M I T M E N T to the community Protocols and training Education, Nutrition and Local Development 27
Slide 28: Governance
GOVERNANCE ONE CLASS OF COMMON SHARES – EQUAL RIGHTS NO CONTROLLING SHAREHOLDER HIGH DEGREE OF INDEPENDENCE OF THE BOARD HIGHEST STANDARD OF CORPORATE HIGHLY QUALIFIED DIRECTOR & MANAGEMENT TEAMS GOVERNANCE MANAGEMENT & CONSULTING COMMITTEES 100% TRAINED IN ANTICORRUPTION POLICIES 28
Slide 29: Thank You!
THANK YOU! Victoria Cabello - IRO Investor Relations Department vcabello@adecoagro.com ir@adecoagro.com