SECTOR OF ACTIVIITY FOOD ENERGY COTTON BIODIESEL SOYA VEGETAL OIL CORN ETHANOL

Transcrição

1 Results 08/15/2011

2 SECTOR OF ACTIVIITY FOOD ENERGY COTTON SOYA CORN BIODIESEL VEGETAL OIL ETHANOL

3 BRAZILIAN BIODIESEL MARKET Blend: up to 2% 1st Sem/08 Blend: min. 2% Jul/08 Jun/09 Blend: min. 3% Jul/09 Dec/09 Blend: min. 4% 2010 on Blend: min. 5% The biodiesel industry operates in a fully regulated market (quartely auctions coordinated by ANP). The sector works with idleness at the rate of 60%. The biodiesel sector remains dependent on a new regulatory milistone that signals an increase in the percentage of biodiesel blend in diesel. Social Fuel Stamp. Variable cost industry (90% of the cost come from soybean oil and methanol). Brazillian Biodiesel Production ( 000 m³) 49% 38% 2, % , B5, 3 years before the schedule. Source: ANP. 3

4 B100 AND VEGETABLE OIL PRICES 2011 VERSUS 2010

5 ALIMENTOS - FUNDAMENTOS DO SETOR Crescimento econômico e populacional Renda disponível Próximo bilhão de consumidores Risco e segurança Energia limpa e biocombustíveis Escassez de água Urbanização Hábitos alimentares saudáveis Escassez de terras aráveis Profissionalização do agribusiness Aumento do mercado de commodities agrícolas

6 OCDE PROJEÇÃO DA PRODUÇÃO DE ALIMENTOS ATÉ 2020 MAPA DA POPULAÇÃO SUBNUTRIDA (em % da pop total) 10 / 15% 10 / 15% 4% 26% 26% 40% Legenda: % de aumento da produção < > No data 7% A OCDE projeta que o mundo deverá aumentar em 20% a produção de alimentos para atender o crescimento demanda até O Brasil é o país que mais ampliará a produção, com previsão de aumento de 40% no período (OCDE, )

7 LAND PORTFOLIO 2010/11 Harvest Farm State Status Own Leased Under control Total Planting Dom Pedro BA operational - 16,966 16,966 15,921 Amizade BA operational - 11,298 11,298 9,898 Sucesso BA non operational 12,682-12,682 - Bandeira CE non operational 3,499-3,499 - São Vicente CE/PI non operational 9,920-9,920 - Catalão GO operational - 5,975 5,975 3,877 Bartolomeu GO operational - 8,486 8,486 8,410 São José II MG non operational 2,454-2,454 - Guapirama MT operational - 9,001 9,001 10,523 São José MT operational 17,734 19,559 37,293 34,464 Violeto PI non operational 7,681-7,681 - Total 53,970 71, ,255 83,093

8 FARMING CALENDAR CROP SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC SOYA (MT) SOYA (BA) SOYA (GO) Planting Treatment Harvesting Planting Treatment Harvesting Planting Treatment Harvesting Planting Treatment Planting Treat.. Planting T. COTTON (MT) COTTON (BA) Planting Treatment Harvesting Planting Treatment Harvesting Plant. Planting T. CORN (MT) CORN (BA) Planting Treatment Planting Treatment Harvesting Harvesting Planting Treatment

9 Results

10 CONSOLIDATED SYNTHETIC RESULTS Description Book Values 2Q11 VA (%) 1Q11 VA (%) HA (%) Gross Revenue 220, % 227, % -3.2% Net Revenue 199, % 205, % -2.6% Biological Asset Fair Value Variation 8, % 13, % -32.7% COGS (207,896) % (195,663) -95.4% 6.3% Gross Profit (Loss) % 22, % -96.9% Operating Expenses (17,126) -8.6% (18,314) -8.9% -6.5% General and Administrative (21,911) -11.0% (19,408) -9.5% 12.9% Taxes (2,045) -1.0% (383) -0.2% 434.1% Others operating 6, % 1, % 362.4% Operating Income Expenses (16,433) -8.2% 4, % % Financial Results 17, % 1, % % Results before Income and Social Contribution Taxes % 5, % -89.5% Income and Social Contribution Taxes 2, % (6,371) 0.0% 0.0% Net Income (Loss) of the Period 2, % (865) -0.4% - EBITDA (5,991) -3.0% 11, % - ADJUSTED EBITDA* 1, % 16, % -93.0% (*) Remark: The fair value of the stocks, amortization of pf the premium of the investor and reclassification of operacional exchange rate variation are not considered

11 GROSS REVENUE, NET REVENUE AND FINANCIAL INCOME Gross Revenue Net Revenue 250, , , ,000 62,000 77, , ,000 60,364 71, ,000 50, , , ,000 50, , , Q11 2Q11 0 1Q11 2Q11 Food Renewable Energy Food Renewable Energy

12 COGS COGS 2Q11 9% 7% 14% 23% 47% Biodiesel Soybean Soybean Meal Performance Soybean Others

13 CASH / NET DEBT Debt (in R$ thousands) 06/30/ /31/2011 Maeda* Brasil Ecodiesel Total Maeda* Brasil Ecodiesel Total Short Term (117,449) (15,777) (133,226) (139,607) (16,051) (155,658) Long Term (83,028) (31,865) (114,893) (59,144) (35,635) (94,779) (=) Total indebtedness (200,477) (47,642) (248,119) (198,751) (51,686) (250,437) Avaliability 2,708 56,711 59,419 5,759 78,949 84,708 (=) Net Cash / Net Debt (197,769) 9,069 (188,700) (192,992) 27,263 (165,729) Receivable Update - sales of asset 104, ,688 85,027 85,027 (=) Net Cash / Net Debt Adjusted (93,081) 9,069 (84,012) (107,965) 27,263 (80,702) * Holding disregarding the consolidated data of Tropical Bioenergy enterprises, Jaborandi Agricola and Jaborandi Propriedades.

14 RESULTS FOR THE PERIOD 2Q11 2Q10 Net Income (Loss) 2,858 (865) Financial Income (17,013) (1,263) Income and Social Contribution T axesir e CSLL (2,278) 6,372 Depreciation and Amortization 10,442 7,700 EBITDA (5,991) 11,944 Share-based Payment 3,278 2,637 Maeda Goodwill Adjustment - PPA 1,512 1,512 Exchange variation reclassified 2,335 - Adjusted EBITDA 1,134 16,093

15 ECOD3 PRICE EVOLUTION

16 MARKET VALUE AND SHAREHOLDERS POSITION Market Value (June 30, 2011 ) R$ 759 millions Number of Shares Shareholders Position (%) 11% 8% 72% 9% Vila Rica I Fundo de Investimento Bonsucex Holding Helio Seibel Others Number of Shareholders

17 INDEXES 17

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