Sao Martinho S.a. · BMFBOVESPA:SMTO3
Sao Martinho — 2Q22 Earnings Presentation
10 slides from Sao Martinho's earnings presentation, November 2021
Slide 1: Results 2nd Quarter 2021/2022 Harvest
Results 2 nd Q u a r t e r 2021/2022 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. Conclusion crop year 21/22 4. Indebtedness 2. Financial Highlights 5. Sugar and Ethanol Market 3. Cash Cost 6. Capex 33
Slide 4: Conclusion crop year 21/22
Conclusion crop year 21/22 Conclusion OPERATING DATA crop year 12M21 Var. (%) 12M22 ✓ The reduction in crushing reflects the effects of the prolonged drought, frost Sugarcane crushed ('000 tons) 19,876 22,522 -11.7% (which occurred in July/21) and the Agricultural Yield (ton/ha) 72 81 -11.2% lower n
Slide 5: Financial Highlights
Financial Highlights R$ ‘000 Executive Summary 2Q22 2Q21 Chg. (%) Net Revenue¹ 1,425,702 925,504 54.0% Adjusted EBITDA 790,094 476,248 65.9% Adjusted EBITDA Margin 55.4% 51.5% 4.0 p.p. Adjusted EBIT 467,250 214,742 117.6% Adjusted EBIT Margin 32.8% 23.2% 9.6 p.p. Copersucar Rights - 383,040 n.m. Net
Slide 6: Cash Cost 6M22
Cash Cost 6M22 SUGAR AND ETHANOL EQUIVALENT IN R$/TRS +38.6 % 63 23 1,205 175 1,045 50 25 870 2.8% 7.2% 2.7% 5.8% 20.1% 6M21 Consecana 6M21 Crop Diesel Others Labor and 6M22 Adjusted failure Inputs others SUGAR ETHANOL +76.7% (R$/ton) +34.5% (R$/m3) 3,107 1,672 1,243 1,758 +37.6% Δ Margin +40.2% Δ M
Slide 7: Indebtedness
Indebtedness Currency – Net debt* Mar/21 Sep/21 Chg.% R$ '000 USD Gross Debt 4,066,251 4,618,102 13.6% BBB- 19.3% Cash and Cash Equiv alents 1,364,148 1,362,795 -0.1% Investment Grade Net Debt 2,702,103 3,255,307 20.5% Global Scale Net Debt / LTM EBI TDA - R$ 1.24 x 1.21 x -2.3% Net Debt / LTM EBI T
Slide 8: Sugar and Ethanol Market
Sugar and Ethanol Market Sugar Price in BRL Hedge Position Sugar hedged Avg. Price Avg. Price 105 (tons) (USD c/p) (R$/ton) 21/22 Harvest 526,516 15.26 19 54 302,037 15.26 1,864 13 5.50 224,480 15.26 not hedged 4.03 22/23 Harvest 419,984 15.16 405,453 15.16 1,932 Jan-20 Feb-20 Mar-20 Apr-20 May-20 S
Slide 9: 21/22 Capex
21/22 Capex 21/22 harvest 21/22 harvest (ESTIMATED) (UPDATED) ✓ Maintenance Capex: R$ 1.3 BI ✓ Maintenance Capex: + R$ 220 MM ✓ Operational Improvements + Projects: ~R$ 750 MM ✓ Operational Improvements + Projects: ~R$ 180 MM ✓ Corn Ethanol Project (GO): ~R$ 450 MM ✓ Corn Ethanol Project (GO): + R$
Slide 10: Investor Relations Contacts
Investor Relations Contacts +55 11 2105-4100 ri@saomartinho.com.br www.saomartinho.com.br/ir