Results
Latest quarterly results published by the Company
See a summary of the Results Release for 3Q20 (third quarter of 2020) 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) | 3Q19 | 3Q20 | AH |
| Net revenue | 684,900 | 776,517 | 13,4% |
| Change Fair Value of Biol. Assets | (121,797) | (25,253) | 79.3% |
| Gross income | (62,228) | 16,805 | n.m. |
| Gross margin | -9.0% | 2.2% | 11.2 p.p. |
| Operating income | (109,875) | (34,991) | -68.2 % |
| Operating margin | -16.0 % | -4.5% | 11.5 p.p. |
| Net profit | (96,960) | (35,710) | -63,2% |
| Net margin | -14.2% | -4.6% | -9,6 p.p. |
| Adjusted EBITDA | 179,346 | 234,627 | 30.8% |
| Adjusted EBITDA margin | 26.2% | 30.27% | 4 p.p. |
| Net debt | 973,757 | 1,225,966 | 25.9% |
Marketplace Overview
Variation in commodity prices
The second quarter of 2020 registered a recovery in international cotton prices. The economic uncertainties created by the pandemic, which severely affected markets in general, led to reductions of over 20% in cotton prices in USD.
Soybean spot prices on the Chicago Board of Trade (CBOT) and the prices paid for the grain based on the Paranaguá/CEPEA reference also staged recoveries during the second quarter of 2020.
CBOT spot prices for corn were highly volatile during the second quarter of 2020, in contrast to indicators on Brazil’s B3 exchange, where spot prices for corn registered a recovery during the same period.
Operational Performance
2019/20 Crop
Soybeans
With the conclusion of the harvest, we once again are revising upwards the yield for this crop, now to 3,900 kg/ha. Note that for the third straight year we set a new yield record, which is in line the Company’s current strategy of focusing on maximizing operating efficiency.
Cotton
The current situation of the first-crop cotton fields shows good development, with high yield potential, supporting the maintenance of our initial estimate of achieving 1,858 kg/ha of cotton lint. The second-crop cotton, planted after the soybean harvest, is presenting good crop conditions. We currently estimate that we will meet the initial projection, with a cotton lint yield of 1,731 kg/ha.
Corn
Corn planting was completed within the ideal crop planting window, i.e. first half of March, which is in line with our projection of a yield of 7,324 kg/ha. The crop has entered the seed-filling phase.
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?”
