Algodão Cotton

• Upward trend in prices
• Recovery in global fiber consumption has translated into a consistent global deficit
• 124.4 million bales is the expectation of consumption in 2021/2022 crop

Soja Soybean

• Unstable price throughout the year, solid recovery path during the last quarter
• Export record: 86 million tons
• Expected deficit in global supply-demand balance, supporting high levels of price

milho Corn

• High volatility in the year, with accelerated recovery of prices in the last quarter
• Shortfall in Brazilian crop due to adverse climate conditions (15% less than in the previous crop)
• 1st year with global supply-demand surplus since 2017/2018

Operational performance

Financial performance

We ended 2021 with new records in all our key financial indicators.

Even with the investments for the acquisition of Terra Santa Agro S.A. and new lease agreement with Agrícola Xingú, we kept the company unleveraged, with a Net Debt/Adjusted EBITDA ratio of 1.42x (times).

We distributed R$232.0 million as dividends and interest on equity, corresponding to 50% of the parent company's adjusted net income. Over the past five years, the average dividend yield has been 5.7%.

Adjusted EBITDA

R$ 1.685 billion

(+ 75.5% y.y.)

Adjusted EBITDA Margin


(+7.6 p.p.)

Record Net Income

R$ 1.131 billion

(+ 121.3% y.y.)

Net Margin


(+ 9.4 p.p.)

Conclusion of the materiality process,

identifying 10 material topics based on broad consultation to our stakeholders

Disclosure of the Zero Deforestation Policy,

in which we commit not to convert native areas to crops or livestock from August 2021

84% satisfaction

of employees in the internal organizational climate survey and market recognition in people management

Code of Ethics and Conduct

Disclosure of the update of the Code of Ethics and Conduct and of the Policy for Preventing and Combating Corruption

R$ 2.2 million

donated via Instituto SLC, with emphasis on R$ 1.0 million directed to the campaign against hunger

40% reduction

in GHG emissions associated with agricultural activities, 19% reduction in water consumption and 10% reduction in waste generation

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