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2Q10 Presentation

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  • 1. BRASIL ECODIESEL S.A. BRASIL ECODIESEL S.A. Investor Relations NBome PRESENTATION OF 2Q10 RESULTS
  • 2. BRASIL ECODIESEL S.A. Brazilian Biodiesel Market The Company Strategy Results – 2Q10
  • 3. BRASIL ECODIESEL S.A. Brazilian Biodiesel Market The Company Strategy Results – 2Q10
  • 4. BRASIL ECODIESEL S.A. | Brazilian Diesel Market - What is Biodiesel? Key Factor of Success: technology or raw material? “Our goal is to achieve the highest standard quality in large scale production using different vegetable oils!” Technology Raw Material
  • 5. BRASIL ECODIESEL S.A. | Brazilian Diesel Market Brazilian Diesel Market (‘000,000 m³)Diesel is the main Brazilian fuel, 42% of all oil derivedfuels and more than 50% of transportation fuels. Domestic market extremely significant,favoring the development and consolidation Source: National Agency for Petroleum, Natural Gas and Biofuels – ANP. of the sector. (*) 2009 Forecast
  • 6. BRASIL ECODIESEL S.A. | Brazilian Diesel Market – National Biodiesel ProgramBiodiesel Law: Mandatory Current blend percentages are only theuse to increase production initial stimulus. Higher blends are already feasible in engines. 2010 on Jul/09 – Dec/09 Blend: min. 5% Jul/08 – Jun/09 Blend: min. 4% Blend: min. 3% 1st Sem/08 Blend: min. 2% 2005 – 2007 Blend: up to 2% Production growth shows the success of the program Source: ANP. (1) Forecast considers B5 in 2010.
  • 7. BRASIL ECODIESEL S.A. Brazilian Biodiesel Market The Company Strategy Results – 2Q10
  • 8. BRASIL ECODIESEL S.A. | The Company- Brasil Ecodiesel on the map Brasil Ecodiesel on the map Biodiesel Plants Farms
  • 9. BRASIL ECODIESEL S.A. | The Company – Board of Administration and Officers Board Members Main ExecutivesName / Position Age Name / Position AgeCarlos Antonio Rocca Mauro A. Cerchiari 69 56Chairman and Independent Board Member Chief Executive Officer (CEO) Joel Mendes Rennó Charles Mann de Toledo 72 51 Vice-Chairman Investors Relations and New Businesses OfficerMauro Fernando Maria Arruda Eduardo de Come 63 44Board Member Chief Financial Officer (CFO)Silvio Tini de Araújo Guilherme Augusto Raposo 63 43Board Member Operations OfficerJose Ferraz Ferreira Filho Expedito Parente Júnior 63 29Board Member Industrial OfficerMarco Antonio Moura de CastroBoard Member 56 Corporate GovernanceWagner Pinheiro de Oliveira  All common shares with equal voting rights 47Independent Board Member  Tag-Along of 100%  None of the board members are executives  Active Fiscal Council
  • 10. BRASIL ECODIESEL S.A. | The Company - Restructuring Recent Past - Restructuring
  • 11. BRASIL ECODIESEL S.A. | The Company – Fulfillment of Contracts Evolution Fulfillment of Contracts with Petrobras
  • 12. BRASIL ECODIESEL S.A. Brazilian Biodiesel Market The Company Strategy Results – 2Q10
  • 13. BRASIL ECODIESEL S.A. | The Company – Strategic Direction for the next 5 years Biodiesel Scenario: “Higher demand for biodiesel , more control of Strategic vegetable oil supply, and less interference of the Direction government.” STRATEGIC EQUITIES OPERATIONAL FIXED INCOME DIVESTMENT SERVICES Long Term Short Term Idle Assets Search for alternative raw materials  Reallocation of Floriano and Crateús idle assets  Selling our farms in Piauí, Ceará and Minas Gerais and the crushing units equipments from Porto states  Viability studies of Jatropha Curcas Nacional plantations in BA, MS and other  Selling of Crateús crushing unit locations.  Activate Iraquara and São Luiz Gonzaga’s crushing units.  Search partners for the development of R&D in the agricultural area  Project to improve industrial efficiency Search for raw material supply partnerships for  Social Fuel Stamp (Selo Combustível Social) - the short and medium terms. work with more advanced forms of Family Farming organizations Corporate Restructuring – Headquarters and organizational  Search for long term financing Redefinition of the Corporate Image Creation of the Company’s industrial R&D Monitoring M&A opportunities in the market
  • 14. BRASIL ECODIESEL S.A. Brazilian Biodiesel Market The Company Strategy Results – 2Q10
  • 15. BRASIL ECODIESEL S.A. | Results – 2Q10 Highlights Net Revenue of R$107.9 million in 2Q10 Net Income of R$2.5 million with EBITDA of R$9.4 million Adjusted Net Income(*) of R$3.8 million and Adjusted EBITDA(*) of R$10.5 million in 2Q10 EBITDA Margin of 8.7% and Adjusted EBITDA Margin(*) of 9.8% in 2Q10 Reduction in indebtedness from R$65.8 million (1Q109) to R$65.0 million (2Q10); Increase of 36.3% in net cash, from R$48.3 million (1Q10) to R$65.9 million (2Q10); The shares of ECOD were included in Ibovespa and IBrX-50 Index.(*) Excludes non-recurring revenue of R$ 1.1 million, due to the transfer of the Company’s headquarters to São Paulo.
  • 16. BRASIL ECODIESEL S.A. | Results– 4Q09 Results a) Excludes non-recurring revenue of R$11.0 million from accumulated ICMS tax benefits, pursuant to CP07, and R$36.4 million resulting from an accounting adjustment related to the termination of a contract with Enguia Gen for the provision of biodiesel production capacity. b) Excludes non-recurring revenue of R$10.8 million from ICMS tax benefits, pursuant to CP07. c) Excludes non-recurring revenue of R$ 1.1 million, due to the transfer of the Company’s headquarters to São Paulo.
  • 17. BRASIL ECODIESEL S.A. | Results – Revenue, Costs and Expensesa) Excludes non-recurring revenue of R$11.0 million from accumulated ICMS tax benefits, pursuant to CP07.b) Excludes non-recurring revenue of R$10.8 million from ICMS tax benefits, pursuant to CP07.
  • 18. BRASIL ECODIESEL S.A. | Results – Debt position Indebtdness (in R$ thousands) 6/30/2009 Part. % 3/31/2010 Part. % 6/30/2010 Part. % 2010 63,788 46.6% - - - - 2011 62,612 45.7% 12,008 23.2% 8,532 17.8% 2012 10,501 7.7% 15,854 30.6% 15,728 32.7% 2013 11 0.0% 15,780 30.4% 15,664 32.6% 2014 0 0.0% 8,204 15.8% 8,142 16.9% Total 136,912 100% 55,676 100% 48,066 100%
  • 19. BRASIL ECODIESEL S.A. | Results – Net Profit 1Q10(a) 1Q10(b) 2Q10 2Q10(c) Adjusted Net Income (25,665) 7,549 2,678 3,807 Adjusted Net Margin 5.45% 2.48% 3.53% a) Excludes non-recurring revenue of R$11.0 million from accumulated ICMS tax benefits, pursuant to CP07, and R$36.4 million resulting from an accounting adjustment related to the termination of a contract with Enguia Gen for the provision of biodiesel production capacity. b) Excludes non-recurring revenue of R$10.8 million from ICMS tax benefits, pursuant to CP07. c) Excludes non-recurring revenue of R$ 1.1 million, due to the transfer of the Company’s headquarters to São Paulo.
  • 20. BRASIL ECODIESEL S.A. | Results – EBITDA 2Q09 (a) 1Q10 1Q10(b) 2Q10 2Q10(c) Adjusted Net Income 41,176 149,384 138,543 107,858 107,858 (-) COGS 38,312 119,748 119,748 88,684 88,684 Gross Profit (Loss) 2,864 29,636 18,795 19,174 19,174 Adjusted Net Profit (Loss) (25,665) 18,390 7,549 2,678 3,807 Adjusted EBITDA (1,967) 23,409 12,568 9,410 10,539 Adjusted EBITDA Margin -4.78% 15.67% 9.07% 8.72% 9.77% a) Excludes non-recurring revenue of R$11.0 million from accumulated ICMS tax benefits, pursuant to CP07, and R$36.4 million resulting from an accounting adjustment related to the termination of a contract with Enguia Gen for the provision of biodiesel production capacity. b) Excludes non-recurring revenue of R$10.8 million from ICMS tax benefits, pursuant to CP07. c) Excludes non-recurring revenue of R$ 1.1 million, due to the transfer of the Company’s headquarters to São Paulo.
  • 21. BRASIL ECODIESEL S.A. | Results – Prices and Financial Volume Evolution Price Evolution Financial Volume Ibovespa x Ecod3 Ecod3 (100 basis in Jan/09) (in million reais) 12 M Average – R$42million
  • 22. BRASIL ECODIESEL S.A. | Results – Market Cap and Shareholding Structure Market Cap: Shareholding Structure (%) (07/30/2010) (06/30/2010) R$ 645,471,367.03 Number of Shares: 725,248,727 Number of shareholders: 25,189
  • 23. BRASIL ECODIESEL S.A. | The Company – Index and ETF Participation in the main index/ETF: PRESENT PERSPECTIVES • IBOVESPA • Carbon Efficient Index • IBRX50 • IBX • IGCX • ITAG • SMLL • IVBX2 • ETF – BlackRock (New York)
  • 24. BRASIL ECODIESEL S.A.BRASIL ECODIESEL S.A. Investor Relations Phone: 55 11 3137-3114 NBome ri@brasilecodiesel.com.br www.brasilecodiesel.com.br