SLC Agrícola reports 140.9% growth in net income in the first quarter of 2021
The positive scenario in Brazilian agriculture led SLC Agrícola to report excellent financial results in the first quarter of 2021. According to the company’s balance sheet disclosed this week, net income in the period stood at R$376.8 million, up 140.9% from the same quarter in 2020, while net revenue grew 30.8% to R$827.4 million, fueled by strong cotton sales.
The company also registered record yield in the soybean crop for the 4th straight year, which stood at 3,970 kg/ha, 5.7% higher than the initial estimate and 12.7% higher than the national average (according to Conab estimates). And this mark is even more significant if we analyze the start of the crop year, when planting commenced behind schedule due to the delayed start of the rainy season. However, quick adjustments in agricultural planning and rapid planting by the company enabled it to achieve this new production record in soybean.
As for cotton, the company maintains its yield projection already announced. For corn, due to the delay in soybean planting in Mato Grosso and the drought in April, which mainly affected the farms in Mato Grosso do Sul, the company estimates a drop in its production potential. Overall, cotton lint yield should be 2% higher than the national average, while corn yield, despite the adverse impacts, should outperform the national average by 8.9%.
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