Brasilagro Cia Brasileira De Propriedades Agricolas · BMFBOVESPA:AGRO3
Brasilagro Cia Brasileira De Propriedades Agricolas — Brasilagro Brazilian Agric Real Estate Co Sponsored ADR (Brazil) — Q3 2023 Earnings Presentation
15 slides from Brasilagro Cia Brasileira De Propriedades Agricolas's earnings presentation, May 12, 2023
Slide 1: Results Presentation 3Q23 | 9M23
3Q23|9M23 RESULTS PRESENTATION May/2023 André Guillaumon Gustavo Lopez Ana Paula Zerbinati CEO CFO & IRO IR Head
Slide 2: Highlights 9M23
HIGHLIGHTS 9M23 Financial Operational Harvest of more than R$663.2 million 61,800 hectares and of net revenue 203,600 tons of soybeans in Brazil, R$25.8 million Paraguay and Bolivia net income Real Estate (subsequent event) R$168.4 million Sale of Araucaria’s Farm by Adjusted EBITDA R$417.8 million
Slide 3: Sale of Araucaria's Farm by R$417.8 million
RELEVANT EVENTS Sale of Araucaria’s Farm by R$417.8 million Araucaria’s Farm Sales Rural property located in Mineiros in the state of Goiás. Total nominal value*: 602.0 million IRR expected: 16.2% per year Acquisition + Capex: 76.0 million Area Area 409,3 332 ha (215 arable ha) 5,185 ha (3,796 arabl
Slide 4: Investments
INVESTMENTS INVESTIMENTOS Progress of projects AREA TECHNOLOGY INFRASTRUCTURE TRANSFORMATION ~15,000 Hectares TRANSFORMAÇÃO DE ÁREA 4
Slide 5: Scenario: Commodity performance
SCENARIO Commodity performance (Jul/22 - May/23) ( R$ / @) ( R$ / 60 Kg) -28,6% -19,7% 194,02 330,6 Soybeans Cattle Raising CENÁRIO 138,49 265,5 ( R$ / 60 kg) ( R$ / L) -27,5% -9,5% 84,33 2.900,0 Corn Ethanol 2.625,0 61,12 176 ( R$ / 50 Kg) ((Algodão NY c/lb) 0,8% -20,9% 103,68 1,2037 1,2129 Cotton
Slide 6: Scenario: Price of inputs
SCENARIO Price of inputs Average Price Status Purchase Fertilizers BrasilAgro: USD/TON. +41% 1325 22/23 23/24 MAP 22/23 Harvest: BRAZIL 900 955,0 730 780 USD/ton 30% 655 620 580 410 100% 70% jan-21 jan-22 apr-23 USD/TON. +57% Open Bought Open Bought 22/23 Harvest: KCL 1.050 720,0 BRAZIL 800 660 USD/
Slide 7: Crop Status
CROP STATUS 1Q 2Q 3Q 4Q 1Q 2Q 3Q Jul Ago Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Ago Sep Oct Nov Dec Jan Feb Mar Planting Soybean Cultural Traits Crop Planting Corn Cultural Traits Crop Planting Beans Cultural Traits Crop Planting Cotton Cultural Traits Crop Planting Sugarcane Cultural Traits Cr
Slide 8: Key Figures
KEY FIGURES (R$ thousand) 3Q23 3Q22 Change 9M23 9M22 Change Revenues from Operations 190.690 175.940 8% 645.714 817.400 -21% Revenues from Farm Sales - - n.a. 17.500 251.534 -93% Net Sales Revenue 190.690 175.940 8% 663.214 1.068.934 -38% Variation in the fair value of biological assets 58.507 206.4
Slide 9: Key Figures: Soybeans, Corn, Sugarcane
KEY FIGURES SOYBEANS CORN SUGARCANE 9M22 9M23 9M22 9M23 9M22 9M23 Quantity sold (tons) 145.144 98.530 Quantity sold (tons) Quantity sold (tons) 98.402 122.856 1.387.687 1.161.022 Net Revenue 375.761 246.047 Net Revenue Net Revenue 92.528 139.722 288.832 184.633 Unit Price (R$/ton) Unit Price (R$/ton
Slide 10: Hedge Position
HEDGE POSITION As of May 10, 2023 Soybean FX Harvest Volume Volume % of hedge(1) Price (USD/bu) % of hedge(2) BRL/USD (thousand) 22/23 148.216 ton 90,55% 14,62 USD 75.192 100,00% 5,38 23/24 25.037 ton 11,70% 13,54 USD 8.000 7,27% 5,73 Corn FX Harvest Price Volume Volume % of hedge(1) % of hedge(2) B
Slide 11: Results Operations
RESULTS OPERATIONS EBITDA Operations Breakdown EBITDA Operations (excludes sale of farms) (excluding G&A Expenses) Adjusted EBITDA (R$ thousand) 9M23 9M22 Change Net Income 8.328 237.455 -96% 100% Interest 2.065 63.333 -97% 9M23 Taxes 22.775 126.403 -82% Depreciations and Amortizations 62.102 102.27
Slide 12: Indebtedness
INDEBTEDNESS Net Financial Debt Amortization Schedule (R$ thousand) 03/31/2023 06/30/2022 Change Short Term 226.424 123.411 83% 96,56% CDI Long Term 357.310 329.630 8% Total Indebtedness 583.734 453.041 29% R$450 million (+/-) Derivatives 62.229 24.421 155% Farmland sales receivables (=) Adjusted Gr
Slide 13: Capital Market
CAPITAL MARKET Price – May 09, 2023 AGRO3 x Ibovespa (base 100 = 03/31/2023) 130 Mkt Cap: R$2.4bi 120 AGRO3: R$23.47 110 LND: 100 US$4.72 90 80 70 AGRO3 IBOV 13
Slide 14: Disclaimer
DISCLAIMER Disclaimer The statements contained in this document related to business perspectives, projections on operating and financial results and those related to BrasilAgro's growth prospects are mere projections and, as such, are based exclusively on the board's expectations about the future of
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