Sao Martinho S.a. · BMFBOVESPA:SMTO3
Sao Martinho — 1Q09 Earnings Presentation
8 slides from Sao Martinho's earnings presentation, 2008
Slide 1: 1Q09 Conference Call
1Q09 Conference Call 2008/2009 Harvest
Slide 2: Strategic Plan through 20/21 Harvest
Strategic Plan through 20/21 Harvest Evolution of Crushing Capacity Crusing – Millions of tonnes Focus on expansion via Investment – Millions of US$ greenfield project Tripling of crushing 30.0 capacity by 2020 Strategy targeting of 1st Phase UBV 21.8 higher value-added 14.2 markets 12.5 10.3 Growth
Slide 3: Ethanol
Ethanol Ethanol of Consumption– Center South Price Comparison- Anhydrous Billions of Liters R$ / Liter Export 1.07 Domestic Market 0.88 0.82 0.87 9.00 9.00 9.00 8.38 9.00 0.79 0.68 0.79 0.67 8.00 8.00 8.00 8.00 58% 1.77 7.00 7.00 7.00 7.00 ME 6.03 6.00 6.00 6.00 6.00 35% 1.125.00 MI 5.00 5.00 5.00 P
Slide 4: Sugar
Sugar Contracts NY11 - ICE Sugar US$ - Cents / Pound Sugar #11 (March09) - harvest 08/08 NY11 Sugar #11 (March10) - harvest 09/9 15 Sugar #11 (March 11) - harvest 10/10 17 14 16 13 15 14 12 13 11 12 10 11 10 9 9 8 02/01/2008 12/01/2008 22/01/2008 01/02/2008 11/02/2008 21/02/2008 02/03/2008 12/03/200
Slide 5: Financial Highlights
Financial Highlights Change 1Q09 1Q08 % 4Q08 inventory sales Net Revenue 92,056 174,563 -47.3 compromised our 1Q09 COGS (Cash Cost) (57,491) (109,573) -47.5 results Gross Profit (1,336) 16,137 n.m. Adjusted EBITDA margin (Adjusted) EBITDA 13,383 31,251 -57.2 of 14.5%, despite low EBITDA Margin 14.5%
Slide 6: EBITDA Adjustments
EBITDA Adjustments 1Q09 EBITDA Reconciliation Thousands of Reais Adjusted EBITDA 13,383 R$10.9 million adjustment Adjusted EBITDA Margin 14.5% will have no cash effect and Ajuste Precificação Despesas com Vendas - will be reversed in upcoming Operating Expenses (Revenues) -Not current 1,700 Booking
Slide 7: Update on harvest 08/09
Update on harvest 08/09 1Q09 Realized GuidandeHarvest Guidance Harvest 07/08 08/09 Guidance given at start of 2008-09 harvest maintained Alcohol 22% 631 thousand m3 Growth of 13.5% End of crop year mix in TRS equivalent Sugar 24% 578 thousand T compared with maintained at 64% ethanol 2007-08 harvest
Slide 8: IR Contacts
IR Contacts João do Val CFO and IRO Felipe Vicchiato Investor Relations João Carvalho do Val - Diretor Financeiro e de Relação com Investidores Telephone: Denise Araújo 55 11 2105-4100 Francisco Gerente de RI Email: ri@saomartinho.ind.br denise.francisco@saomartinho.ind.br IR site: Fone www.saomarti