Sao Martinho S.a. · BMFBOVESPA:SMTO3
Sao Martinho — 4Q20 Earnings Presentation
10 slides from Sao Martinho's earnings presentation, June 2020
Slide 1: Results 4th Quarter 2019/2020 Harvest
Results 4th Q u a r t e r 2019/2020 Harvest
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. Financial Highlights 4. Production Guidance 2. Cash Cost 5. Hedge Position 3. Indebtedness 6. Sugar and Ethanol Market 33
Slide 4: Financial Highlights
Financial Highlights R$ ‘000 Executive Summary 4Q19 4Q20 Chg. (%) 12M19 12M20 Chg. (%) Net Revenue¹ 1,124,508 1,146,539 2.0% 3,381,663 3,701,547 9.5% Adjusted EBITDA 509,586 579,510 13.7% 1,644,534 1,857,191 12.9% Adjusted EBITDA Margin 45.3% 50.5% 5.2 p.p. 48.6% 50.2% 1.5 p.p. Adjusted EBIT 121,050
Slide 5: Cash Cost including Maintenance Capex Ex-Consecana
Cash Cost including Maintenance Capex Ex-Consecana SUGAR ETHANOL (R$/ton) (R$/m3) +10.7% +4.1% 1,753 1,940 1,099 1,144 Price Δ Margin Δ Margin - 1.5 p.p. + 6.2 p.p. +2.7% +5.8% 1,489 1,529 953 1,008 Total Cash Cost¹ 12M19 12M20 12M19 12M20 12M20 • Inflation in the period: 3.3% x • Agricultural input
Slide 6: Indebtedness
Indebtedness Mar/19 Mar/20 Chg.% Currency - Gross R$ '000 Gross Debt 4,491,205 4,841,376 7.8% Cash and Cash Equiv alents 2,089,213 1,962,064 -6.1% BBB- Net Debt 2,401,992 2,879,312 19.9% 1.46 x 1.55 x 6.1% USD Investment Grade Net Debt / LTM EBI TDA - R$ 40% R$ Global Scale Net Debt / LTM EBI TDA -
Slide 7: Production Guidance: 20/21 Harvest
Production Guidance: 20/21 Harvest 20/21 19/20 Chg. (%) Guidance OPERATIONAL DATA Crushing ('000 tons) 22,640 23,200 2.5% Average TRS (Kg/Ton) 139.4 138.0 -1.0% Max Max Production Mix Scenarios Sugar Ethanol Sugar ('000 tons) 1,106 1,490 1,135 Ethanol ('000 m³) 1,172 970 1,200 Cogeneration ('000 MWh
Slide 8: Hedge Position – Current
Hedge Position – Current Hedged Volume Average Price Average Price¹ SUGAR (ton) (US$ c/p) (R$/ton) ~96% of own 2020/2021 Harvest 1,093,727 13.00 ~1,319 sugarcane fixed² ~23% of own 2021/2022 Harvest 260,261 12.18 ~1,449 sugarcane fixed³ Hedged Volume Average Price DOLLAR (US$ ‘000) (R$/US$) ~76% of
Slide 9: Sugar and Ethanol Market
Sugar and Ethanol Market Ethanol Consumption and Price 2,159 2,198 2,094 • Circulation restriction 1,993 (COVID-19 pandemic) 1,916 1,897 1,945 1,826 • Drop in the oil price 1,798 1,784 1,761 1,799 1,738 1,749 1,691 1,649 1,466 1,508 2.9 2.7 2.8 2.7 2.9 2.7 2.7 2.5 2.4 2.5 2.5 2.5 2.5 2.3 2.2 2.0 0.8
Slide 10: Investor Relations Contacts
Investor Relations Contacts +55 11 2105-4100 ri@saomartinho.com.br www.saomartinho.com.br/ir