Results

Latest quarterly results published by the Company

See a summary of the Results Release for 3Q18 (second quarter of 2018) available on the CVM website and also a summary of the latest quarterly results published by the Company.

For more details visit the Investor Relations site www.slcagricola.com.br/ir 


Highlights of the period

(R$ thousand) 9M17 9M18 AH 3Q17 3Q18 AH
Net revenue 1,152,326 1,296,156 12.5% 459,587 408,451 -11.1%
Change Fair Value of Biol. Assets 340,753 656,799  92.7% 101,442 129,134 27.3%
Gross income 509,984 730,385 43.2% 155,556 114,498 -26.4%
Gross margin 44.3% 56.4% 12.1 p.p 33.8% 28.0% -5.8 p.p
Operating income 399,314 600,779 50.5% 114,095 68,755 -39.7%
Operating margin 34.7% 46.4% 11.7 p.p 24.8% 16.8% -8.0 p.p
Net profit 232,634 373,042 60.4% 70,500 35,587 -49.5%
Net margin 20.2% 28.8% 8.6 p.p 15.3% 8.7%  -6.6 p.p
Adjusted EBITDA (1) 314,087 397,588 26.6% 116,834 88,298 -24.4%
Adjusted EBITDA margin 27.3% 30.7% 3.4 p.p 25.4% 21.6% -3.8 p.p
 Adjusted Net debt (2) 844,882  1,189,668  40.8% 844,882 1,189,668 40.8%

(1) Excludes the effects from Biological Assets, since they are noncash, and excluding the write-off of Property, Plant and Equipment. (2) Adjustes by gain and losses with derivatives.


Marketplace Overview

Variation in commodity prices

The average cotton spot price on the ICE US during 3Q18 was de 84.4 USc per pound, slightly below the average price in the prior quarter, but presenting a downward trend towards the close of the quarter. Supply and demand in the short term remains favorable for cotton, with consumption following a solid upward path in recent years to set new records.

The average spot soybean price on the CBOT was 14% lower than the average price in the prior quarter and 12% lower than the price at the start of the year, basically due to the confirmation by China of the 25% duty on soybean imports from the United States, which is one of the developments of the trade war cited earlier.

The average corn price of the first contracts traded on the Chicago Board of Trade (CBOT) in 3Q18 was slightly lower than the average price in the previous quarter and, by the end of September, was basically at the same level observed at the start of 2018.


Operational Performance

2017/18 Crop

Soybeans

Harvest was concluded on the 230,127 hectares in the current crop year dedicated for this crop, where we registered a record yield of 3,756 kg/ha, which is 11.8% more than initially projected.

Cotton

The area cultivated for cotton crops in 2017/18 was 95,124 ha, divided between the initial cotton crop and the 2nd cotton crop.

Corn

The productivity of the corn grown in the 2nd crop was 9,912 per hectare. The planting of the corn 2nd crop began in the second half of January 2018, as the harvest of early soybean varieties advanced.

Get to know our Investor Relations website

SLC Agrícola is a Company with shares traded on Bovespa since 2007.

On the Investor Relations Website you will find comprehensive content that includes:

– Event Calendar where SLC Agricola’s IR team will be present in the coming months

– Section for downloads, historical data spreadsheets and document files already published by the Company, release of results as well as relevant facts

– Section for quotes and charts

– Details on corporate governance

– Section “Why invest in SLC Agrícola?”

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