Bioceres Crop Solutions Corp. · NASDAQ:BIOX
Bioceres Crop Solutions — Q2 2021 Earnings Presentation
21 slides from Bioceres Crop Solutions's earnings presentation, Feb 11, 2021
Slide 1: Second Quarter Fiscal Year 2021
Seeond Quarter Fiscal Year 2021 BIOCERES CROP SOLUTIONS
Slide 2: Disclaimer
Disclaimer This Presentation is for informational purposes only and does not constitute an offer or invitation to sell, a Financial Information Presentation solicitation of an offer to buy, or a recommendation to purchase any equity, assets, business, debt or other financial Historical financial inf
Slide 3: Key Business & Financial Highlights
Key Business & Financial Highlights HB4® Wheat outyields conventional varieties by +13.5% across all environments and locations +42% in low yielding environments (~ 1/3 of total area harvested) Inventory quality and volume aligned to achieve FY21 goal: up to 130K ha subject to BR approval 100% custo
Slide 4: HB4 Wheat
HB4 Wheat Up to +60% yield, no penalties under normal conditions 13.5% Avg. HB4 Yield Improvement +60% +7% +8% Groundwater Wetness Percentile 2 5 10 20 30 70 80 90 95 98 Source: Earth Observatory, NASA, Oct 27 4
Slide 5: HB4 Wheat Case study: High productivity environment
HB4 Wheat Case study: High productivity environment1 Henderson, Buenos Aires, ARG 1. Conventional 1 Yield map 2. Conventional 2 +20% from active 3. HB4 data gathering on farm 3 2 6,368 1 6,000 5,292 Low yield 5,000 High yield Kg/ha 4,000 3,000 2,000 1,000 0 HB4® Wheat Conventional ¹ Yield more than
Slide 6: HB4 Wheat Case study: Mid-productivity environment
HB4 Wheat Case study: Mid-productivity environment1 Gonzales Moreno, Buenos Aires, ARG 1 1. Conventional Yield map 2 2. HB4 +30% from active data gathering on farm 6,000 5,842 Low yield 5,000 High yield 4,480 Kg/ha 4,000 3,000 2,000 1,000 0 HB4® Wheat Conventional ¹ Yield between three and five tons
Slide 7: HB4 Wheat Case study: Low productivity environment
HB4 Wheat Case study: Low productivity environment1 Coronel Dorrego, Buenos Aires, ARG 1 1. Conventional Yield map 2 2. HB4 from active +68% data gathering on farm 6,000 Low yield 5,000 High yield Kg/ha 4,000 3,000 1,739 2,000 1,037 1,000 0 HB4® Wheat Conventional ¹ Yield up to three tons per hectar
Slide 8: HB4 Wheat Harvest Inventory ramp-up snapshot
HB4 Wheat Harvest Inventory ramp-up snapshot ~7K Hectares Planted 50 Sites 100% Customer repeat rate for Potential Seed Availability For Next Season next cycle >60K2 >130K3 Hectares $1.4M Contributed Contributed goods1 58% Gross Margin 2 3 $4-6 M $12-15 M goods Varieties Regions 45-60% Profitability
Slide 9: HB4 Soy Inventory ramp-up on track
HB4 Soy Inventory rump-up on track ~23K Hectares Planted 148 220 Growers Sites $2.2M Contributed goods1 59% Gross Margin 7 3 Varieties Regions Hectares . 55 - 75 . .. 75 - 147 147 - 239 ¹ Metric will be used to account for and track the underlying economic performance of our HB4 Wheat and HB4 Soy 23
Slide 10: HB4 Program Data Gathering
HB4® Program Data Gathering +30K HB4® Hectares | +170 HB4® Users | +25 Satellite Images per Crop Cycle (per ha) $600K +16K Passive Ag Meteorological Data Points | 1M2 Resolution Yield Maps Data +130 Active Variables Tracked On Farm acquisition investment Non-proprietary Georeferenced Agrometeorologi
Slide 11: NSIP Agreement
NSIP Agreement Fast-track product development and targeting efforts in the US DATA SOURCE Genotyping CONVENTIONAL Needs regional Phenotyping empirical validation BREEDING Genotyping Phenotyping NSIP-BASED Predictive Passive Collection geography (Weather/Satellite) BREEDING location Predictive Analyt
Slide 12: Quarterly Revenue Performance
Quarterly Revenue Performance LTM total comparable revenues +8% LTM 2Q20 $156M1 LTM 2Q21 $168M1 + $3.6M HB4 $ Million Contributed 63.0 Goods2 48.7 57.2 51.9 42.2 47.7 39.1 35.5 26.0 23.9 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY19 FY20 FY21 ¹ LTM figures correspond to comparable revenues 2 Contributed goods are no
Slide 13: Comparable Revenue Bridge & Gross Margins
Comparable Revenue Bridge & Gross Margins Comparable revenues -17% YoY 50 45 63.0 -3.5 40 -0.6 -5.3 48.7 35 57.2 $ Million 30 Adjuvants, Seed treatment Micro beaded Insecticides Packs Fertilizer 47.7 25 & fungicides 20 15 10 5 0 2Q20 Crop Protection Seed and Integrated Crop Nutrition 2Q21 Products %
Slide 14: Comparable Gross Profit
Comparable Gross Profit Contribution per segment Gross Profit -15% YoY 25 20 30.0 -2.0 -0.6 -2.0 23.7 29.8 $ Million 15 25.2 10 5 0 2Q20 Crop Protection Seed and Integrated Crop Nutrition 2Q21 Products As Reported Comparable 14
Slide 15: Adjusted EBITDA & Margin
Adjusted EBITDA & Margin Adj. EBITDA Margin2 33.5% 29.1% 35 30 Adj. EBITDA -33% YoY 25 -4.6 $ Million 20 21.1 -1.8 0.3 -1.2 0.3 15 14.2 10 5 0 Adjusted Comparable IAS 29 Operating JV’s Other Income Adjusted EBITDA 2Q20 Gross Profit1 Gross Profit Expenses or Expenses EBITDA 2Q21 ¹ As reported figures
Slide 16: LTM Adjusted EBITDA & Margin
LTM Adjusted EBITDA & Margin Adj. EBITDA Margin2 24.6% 25.5% 70 60 LTM Adj. EBITDA +2% YoY 50 6.9 -5.6 0.0 0.0 -0.6 $ Million 40 41.3 42.0 30 20 10 0 LTM Adjusted Comparable IAS 29 Operating JV’s Other Income LTM Adjusted EBITDA 2Q20 Gross Profit1 Gross Profit Expenses or Expenses EBITDA 2Q21 ¹ As r
Slide 17: Balance Sheet and Cash Position
Balance Sheet and Cash Position Strong cash position to support high season working capital needs, HB4 Program inventory ramp-up, and Verdeca acquisition related expenses Net Debt 2.31x 2.30x 1.98x 2.12x 3.06x ____________ LTM EBITDA $ million 101.1 128.7 Notes: 1) Net Debt = Total financial debt 10
Slide 18: Exhibits
4 BIOCERES ' CROP SOLUTIONS —
Slide 19: Unaudited Consolidated Statement of Comprehensive Income
Unaudited Consolidated Statement of Comprehensive Income Three-month period Three-month period Six-month period Six-month period Figures in $ Millions ended 12/31/2020 ended 12/31/2019 ended 12/31/2020 ended 12/31/2019 Total revenue 48.7 63.0 91.1 99.2 Cost of sales (25.1) (33.0) (48.2) (53.3) Gross
Slide 20: Unaudited Consolidated Statement of Financial Position
Unaudited Consolidated Statement LIABILITIES 12/31/2020 06/30/2020 of Financial Position CURRENT LIABILITIES Figures in $ Millions Trade and other payables 63.3 57.3 ASSETS 12/31/2020 06/30/2020 Borrowings 89.5 63.7 Employee benefits and social security 4.1 4.5 CURRENT ASSETS Deferred revenue and ad
Slide 21: Contact Us
Contact Us Investor Relations Investorrelations@biocerescrops.com (54) 0341 4861100 Investors.biocerescrops.com 21
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