Sao Martinho S.a. · BMFBOVESPA:SMTO3
Sao Martinho — 1Q15 Earnings Presentation
10 slides from Sao Martinho's earnings presentation
Slide 1: Earnings Release Conference Call 14/15 Season 1Q15
Earnings Release Conference Call 14/15 Season 1Q15
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 Operational Highlights 4 Indebtedness 2 Financial Highlights 5 Hedging 3 EBITDA Cost 6 Closing – Santa Cruz 3
Slide 4: Operational Highlights
Operational Highlights Table 1 1Q14 1Q15 12M15 Percentage Chg.% Production Production* Guidance* Achieved Sugarcane Crushed ('000 tons) 5.543 7.637 37,8% 19.640 38,9% Agricultural Yield (ton/ha) 81,79 90,88 11,1% - - Average TRS (kg/ton) 126,98 129,76 2,2% - - Production Sugar ('000 tons) 318 460 44
Slide 5: Financial Highlights
Financial Highlights Graph 2 Table 1 Graph 1 SUGAR ETHANOL 1Q14 1Q15 Variation +11.5% 1,438.2 -2.3% 1,290.2 892.3 Net Revenues 493,748 511,021 +3.5% 871.8 +0.3% -8.9% 256.7 233.9 COGS (cash) (229,124) (232,749) +1.6% 15.6 170.9 171.3 19.8 115.2 128.9 241.1 214.1 Adjusted EBITDA 211,639 227,046 +7.3%
Slide 6: EBITDA Cost
EBITDA Cost Graph 1 EBITDA Cost Sugar Increase in the purchase of third-parties sugarcane in (R$/ton) 1Q15 – adoption of “Relative TRS” at São Martinho Mill. +14.6% Graph 3 560.5 Sugarcane Mix 488.9 (‘000 tons) 7,637 5,543 70% 1Q14 1Q15 77% Graph 2 EBITDA Cost 30% Ethanol 23% (R$/m³) 1Q14 1Q15 +13.2
Slide 7: Indebtedness
Indebtedness Graph 1 Table 1 CURRENCY INDEBTEDNESS Mar/14 Jun/14 Chg%. R$ '000 PESA 65.083 60.722 -6,7% BNDES 649.618 654.239 0,7% Debt in foreign exchange 940.096 845.510 -10,1% Obligations from acquisitions 10.725 21.338 99,0% Working Capital 311.391 607.840 95,2% Gross Debt 1.976.913 2.189.648 10
Slide 8: Hedging
Hedging Table 1 Hedge Average Own Volume Price Sugarcane ('000 tons) (US$ c/p) Sugar - 2014/2015 Season Jul/14 (N14) 262,496 18.15 100.0% Oct/14 (V14) 100,487 18.52 45.6% Mar/15 (H15) 30,481 18.80 7.8% 2014/2015 Crop Year 393,464 18.30 47.3% 51% of the sugar hedge already contracted – (US$ 83 millio
Slide 9: Closing – Santa Cruz S.A.
Closing – Santa Cruz S.A. FINANCIAL HIGHLIGHTS (São Martinho S.A. + 100% Santa Cruz mill) On August 8th, 2014, we announced: 1Q14 1Q15 R$ '000 Net Revenues 568,093 592,068 i) The acquisition of Santa Cruz S.A.; Adjs. EBTIDA 247,250 264,665 Adjs. EBTIDA Margin 43.5% 44.7% Adjs. EBIT 72,155 111,745 Ad
Slide 10: IR - Contacts
IR - Contacts Telephone: +55 11 2105-4100 E-mail: ir@saomartinho.com.br Website: www.saomartinho.com.br/ir 10