Brasilagro Brazilian Agric Real Estate Co Sponsored ADR (Brazil) (LND) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. We are here for another earnings call at Brazil Agro to disclose our second quarter of our harvest year 25-26, which represents the first half of the year. If you're new around here, it's important to highlight that the Brazil Agro year goes from July to June, and that's why we're reporting the second quarter now. Have a great call, everyone, and I will pass on the floor to André. Thank you so much, Ana. Good morning, everyone, and to be with you all once again. I want to bring in some important news here. We're going to talk about the harvest, the climate, commodities, and also major dollar variations in this quarter, which is super important to demonstrate here. And you all know that due to accounting reasons and considering the value of our stocks and assets, these variations were very important within a quarter. But overall, I'd like to once again thank you for your participation and share a bit of what the company has been doing very well in the first six months of the year. So we would end the first six months with a net revenue of $644 million. And then... an adjusted EBITDA of about 78 million Yais. So these are the main numbers, and we'll see that most of the net income was affected by this main variation I mentioned. And then Gustavo would just mention that this is like occasional within our balance sheet. So on the next slide, on the next page, we can see major stability for some products. And I want to highlight some products also that have been really standing out from January all the way here. So we saw a reduction in soy. And once again, it's very important to highlight that the company is really focusing on closing the contribution margin, not only the price itself, but the exchange ratio and our contribution margins that we sa...