Earnings release 3 q09 presentation

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Earnings release 3 q09 presentation

  1. 1. 3Q09 Results Presentation Brasil Ecodiesel SA October 27, 2009 1
  2. 2. Earnings Presentation Mauro A. Cerchiari – Chief Executive Officer Eduardo de Come – Chief Financial Officer Charles Mann de Toledo – Investor Relations Officer 2
  3. 3. 3Q09 Highlights Financial restructuring of the company and conclusion of second capital increase; New management takes charge; Record delivery of volume contracted with Petrobras - 98%; Winning of contracts at ANP’s 15th Auction to deliver 57,000 m3 in 4Q09; Net Revenue of R$ 126.4 million, the third highest in the Company’s history ; Adjusted Net Profit of R$ 5.25 million, the highest ever by the Company; Adjusted EBITDA of R$ 17.2 million, another record; EBITDA Margin of 13.6% in 3Q09, the highest ever for the Company; More than 20,000 shareholders. 3
  4. 4. Resumption of Production 4
  5. 5. - Production and Sale of Biodiesel- Production per plant- Delivery of contracts with Petrobras- Evolution of soybean oil and biodiesel prices 5
  6. 6. Production and Sales of Biodiesel 45.000 Produção (m3) 40.000 Vendas (m3) 35.000 30.000 25.000 20.000 15.000 10.000 5.000 - 6
  7. 7. Sales per plant Porto Biodiesel Floriano Crateús Iraquara Nacional Rosário do Sul Itaquí Total B100 Sales 3Q08 3,594.90 3,515.95 5,298.31 0 8,719.07 7,943.87 29,072.10 (m3) 2Q09 114.33 0 4,502.23 127.80 10,616.55 3,904.81 19,265.71 3Q09 142.22 0 12,917.93 9,728.67 20,818.65 12,348.62 55,956.09 7
  8. 8. Delivery of contracts with Petrobras Execution of the contracts acquired in the auctions - 2008 e 2009 160.000 140.000 120.000 M³ CONTRATO M³ FATURADO 100.000 80.000 60.000 39 % 98 % 40.000 33 % 27 % 46 % 20.000 41 % 43 % 0 Leilão 6 Leilão 7 Leilão 8 Leilão 10 Leilão 12 Leilão 13 Leilão 14 1° Sem 2008 1° Sem 2008 3° Tri 2008 4° Tri 2008 1° Tri 2009 2° Tri 2009 3° Tri 2009 8
  9. 9. Evolution of Prices 2.900 45.000 Produção da ECOD em m³ Preço B100 do Leilão 40.000 2.700 Preço Médio OV 35.000 2.500 30.000 2.300 25.000 2.100 20.000 15.000 1.900 10.000 1.700 5.000 1.500 0 jan/08 mar/08 mai/08 jul/08 set/08 nov/08 jan/09 mar/09 mai/09 jul/09 set/09 9
  10. 10. Financial Results 10
  11. 11. - Key Indicators- Cost of Goods Sold- Debt Profile- General and Administrative Expenses 11
  12. 12. Key Indicators 3Q09 2Q09 3Q08 Net Revenue 126,385 52,198 88,904 COGS (101,635) (38,312) (87,856) Gross Income (Loss) 24,750 13,886 1,048 Net Income (Loss) 5,247 (11,517) (*) (29,261) EBITDA 17,196 1,408 (*) (8,215) EBITDA Margin 13.6% 2.7% (*) -11.3% 12
  13. 13. Cost of Goods Sold CPV - 3° TRIM.09 - TOTAL 2,3% 0,5% 2,5% 0,1% 2,7% 2,2% 6,7% ÓLEO VEGETAL METANOL PRODUTOS QUÍMICOS MÃO DE OBRA GGF DEPRECIAÇÃO GLICERINA 83,1% OUTRAS 13
  14. 14. Debt Profile Indebtedness (in ths R$) 3Q08 2Q09 3Q09 Short Term 74,878,00 92,543.00 18,280.00 Loan with Ecogreen 20,473.00 (+) Long Term 193,789.00 136,912.00 60,116.00 (=) Total Debt 289.140,00 229.455,00 78,396.00 (-) Availability 8,020.00 2,321.00 1,227.00 (-) Investments - - 123,791.00 (=) Net Debt 281,120.00 227,134.00 (46,622.00) 14
  15. 15. General and Administrative Expenses General and Administrative Expenses 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09G&A Expenses 10,509 13,715 9,003 11,090 9,153 9,099 9,356Personnel Expenses 4,625 5,003 4,277 4,491 3,893 4,517 3,834Administrative Expenses 5,884 8,712 4,726 6,599 5,260 4,582 5,522 Evolution of Headcount Month sep/08 jun/09 sep/09 Employees 1,411 970 897 15
  16. 16. Strategic Course 16
  17. 17. Strategic Course The Executive Board and Board of Directors are working on the strategic course: • Domestic and international biodiesel markets; • Company’s positioning in different scenarios; • Possible operational restructuring; • Investments in diversification of raw materials. 17
  18. 18. Disclaimer• The estimates and forward-looking statements contained in this presentation are largely based part on current expectations and estimates of future events and trends that affect or could potentially affect the business, financial situation, operational results and prospects of BRASIL ECODIESEL. These estimates and statements are subject to various risks, uncertainties and assumptions and are based on the information currently available to BRASIL ECODIESEL. This presentation is also available on the website www.brasilecodiesel.com.br/ri.• These estimates involve risks and uncertainties and do not constitute a guarantee of future performance, since actual results or developments may differ substantially from the assumptions described in the estimates and forward-looking statements. In view of the risks and uncertainties involved, the estimates and forward-looking statements in this presentation may not occur and the future results and performance of BRASIL ECODIESEL may differ substantially from those envisaged by the estimates of BRASIL ECODIESEL. Given these uncertainties, investors should not base any investment decision on these estimates and forward-looking statements.• The words “believe”, "can”, “could”, “estimate”, “continue”, “anticipate”, “plan”, “expect” and similar expressions seek to identify estimates. These estimates refer only to the date on which they were expressed, and BRASIL ECODIESEL is not responsible for updating or revising any of these estimates in light of the occurrence of new information, future events or any other factors.• This presentation does not constitute an offer, invitation or solicitation to subscribe to or acquire any securities, and this presentation or any information contained herein does not constitute the basis of an agreement or commitment of any kind. 18
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