Brasilagro Brazilian Agric Real Estate Co Sponsored ADR (Brazil) (LND) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, good morning. We are here to talk about earnings in the first quarter of our 2536 harvest at Bresa Agro. I'm here with José Yamo, our CEO, and Gustavo Lopes, CFO of Bresa Agro. If you're watching us, the presentation is in chat. I would like to say good morning, everyone, and pass the phone to André. Good morning. Thank you very much, Ana Paula. Thank you all for being with us once again. Thank you for being with us and presenting our results. This is a quarter that historically has not too much revenue. So we're at this moment with the end of the sugarcane harvest, and then we also have our harvest being planted. So theoretically, it's a period where you have results that may be a bit weaker, but we'll bring in some points that brought these results. and also providing more details on sugar cane, et cetera. But anyways, in the net revenue of our first quarter, we reached $186.6 million, and adjusted every day of $64, and a net loss of $64.3. So basically the first quarter, and then we'll get into a bit more details of where this is coming from. Basically, a lot of what we're going to see in this quarter is a mark-to-market and IFRS mark-to-market of sugar cane, mark-to-market of soy receivables. And so our receivables account is pretty big. And you know that. Next slide, please. So now we can see an overview of how the year has been behaving with a lot of volatility. And I'm going to quickly look at the contracts, all the operations and the numbers. We had this strategy of bringing soy to the second semester, and this strategy seemed to be very effective. Good. Due to all of the commercial discussions between China and the U.S. and we had Chicago back there, that was basically intending to improve prices of bases. And then we have this decision of taking soy ...