- Revenues for the second quarter increased 8.7% to R$1.6 billion due to higher prices across key product categories and increased volumes for EU ethanol and Indian Ocean sugarcane segments. Record quarterly EBITDA was R$282 million, up 24.4% from the previous year, with the EBITDA margin improving to 17.1%.
- Sugarcane revenues in Brazil declined due to lower volumes affected by adverse weather, but prices increased. Indian Ocean sugarcane revenues grew on higher prices and volumes. Cereal revenues increased 24% on higher selling prices and improved product mix in the starch segment.
20110523 ti conf_call_presentation_q4_engl_v2Tereosri
The document reports on the financial results of Tereos Internacional for the fourth quarter and full year of 2010/11. Key highlights include 24.2% revenue growth and 16.7% adjusted EBITDA growth for Q4, driven by double-digit increases in both cereal and sugarcane operations. For the full year, revenues grew 13.5% and adjusted EBITDA grew 10.3%, with sugarcane revenues increasing 60.2% due to higher volumes and prices. Net debt decreased 16.3% from the previous year. The company also announced several expansion projects and investments totaling over $1 billion for its sugarcane operations in Brazil.
Tereos Internacional reported record first quarter net profits due to a strong increase in operating income. Revenues increased 47.4% to R$1.6 billion, driven by higher sugar and ethanol prices. Adjusted EBITDA doubled to R$206 million compared to the previous year. In Brazil, revenues and adjusted EBITDA increased significantly due to higher prices and the Mandu acquisition. Starch Europe revenues rose 27% due to higher volumes, but adjusted EBITDA declined due to increased costs. Outlook remains positive given continued high sugar and ethanol prices.
20110215 ti conf_call_presentation_q3_englTereosri
Tereos Internacional reported record results for the third quarter of 2010/11, with revenues increasing 31.3% year-over-year driven by strong growth in the sugarcane segment. Net income was a record R$143 million, up significantly from R$14 million in the prior year quarter. The sugarcane segment performed well due to higher sales volumes and prices. The cereal segment faced challenges from higher raw material costs and currency effects. Working capital increased seasonally during the quarter. Outlook for the remainder of the year remains positive for sugarcane but challenging for cereals.
Tereos Internacional reported strong financial results for Q3 2011/12, with revenues increasing 14.4% to R$1.8 billion driven by higher prices across key products. Adjusted EBITDA grew 4.4% to R$271 million. The Brazilian business was impacted by lower sugarcane volumes but this was offset by better results in other regions like the Indian Ocean and Europe. The company also advanced strategic initiatives through acquisitions and increased stakes in subsidiaries to reinforce its leadership positions.
Tereos Internacional reported its second quarter 2010/11 results. Key highlights include:
- Revenue grew 12.5% to R$1.5 billion driven by acquisitions in Brazil and higher sugar production.
- Adjusted EBITDA increased 44.3% to R$286 million due to strong performance in Brazil and integration of recent acquisitions.
- In Brazil, sugarcane crushing reached a record 8.8 million tons and sugar production increased 82.8% due to integration of recent acquisitions and increased capacity.
- Syral in Europe maintained stable revenues and volumes despite closing one plant, though margins declined due to higher costs.
Tereos Internacional reported its 2012/13 year-end results. Revenues increased 11.1% to R$7.6 billion due to higher sales volumes in sugarcane and starch & sweeteners segments. Adjusted EBITDA declined 9.4% to R$869 million due to higher cereal prices and reduced ethanol volumes in Europe. In Brazil, sugarcane crushing volumes increased but earnings declined due to lower sugar and ethanol prices. The Indian Ocean/Africa segment reported increased revenues and adjusted EBITDA due to favorable commercial conditions and volume growth. The starch & sweeteners segment saw revenue growth from higher volumes and prices but adjusted EBITDA declined due to a sharp rise in raw material costs
Tereos Internacional reported its first quarter 2012/13 results. Key highlights included:
- Revenues of R$1.7 billion, stable year-over-year at constant currency due to favorable pricing offsetting reduced volumes.
- Adjusted EBITDA of R$156 million, down 26.7% year-over-year at constant currency due to delayed production in Brazil from unusual weather.
- A R$370 million capital increase that was 100% subscribed to finance expansion in Europe and diversification in Brazil.
Tereos Internacional reported its second quarter 2012/13 results. Key highlights included a recovery in the Brazilian sugarcane operations due to increased sales volumes and lower input costs. The company also saw higher sales volumes across most business segments. However, raw material costs impacted the cereals business. Looking forward, the company expects sugarcane crushing in Brazil to increase to between 18.2-18.4 million tonnes for the current crop.
20110523 ti conf_call_presentation_q4_engl_v2Tereosri
The document reports on the financial results of Tereos Internacional for the fourth quarter and full year of 2010/11. Key highlights include 24.2% revenue growth and 16.7% adjusted EBITDA growth for Q4, driven by double-digit increases in both cereal and sugarcane operations. For the full year, revenues grew 13.5% and adjusted EBITDA grew 10.3%, with sugarcane revenues increasing 60.2% due to higher volumes and prices. Net debt decreased 16.3% from the previous year. The company also announced several expansion projects and investments totaling over $1 billion for its sugarcane operations in Brazil.
Tereos Internacional reported record first quarter net profits due to a strong increase in operating income. Revenues increased 47.4% to R$1.6 billion, driven by higher sugar and ethanol prices. Adjusted EBITDA doubled to R$206 million compared to the previous year. In Brazil, revenues and adjusted EBITDA increased significantly due to higher prices and the Mandu acquisition. Starch Europe revenues rose 27% due to higher volumes, but adjusted EBITDA declined due to increased costs. Outlook remains positive given continued high sugar and ethanol prices.
20110215 ti conf_call_presentation_q3_englTereosri
Tereos Internacional reported record results for the third quarter of 2010/11, with revenues increasing 31.3% year-over-year driven by strong growth in the sugarcane segment. Net income was a record R$143 million, up significantly from R$14 million in the prior year quarter. The sugarcane segment performed well due to higher sales volumes and prices. The cereal segment faced challenges from higher raw material costs and currency effects. Working capital increased seasonally during the quarter. Outlook for the remainder of the year remains positive for sugarcane but challenging for cereals.
Tereos Internacional reported strong financial results for Q3 2011/12, with revenues increasing 14.4% to R$1.8 billion driven by higher prices across key products. Adjusted EBITDA grew 4.4% to R$271 million. The Brazilian business was impacted by lower sugarcane volumes but this was offset by better results in other regions like the Indian Ocean and Europe. The company also advanced strategic initiatives through acquisitions and increased stakes in subsidiaries to reinforce its leadership positions.
Tereos Internacional reported its second quarter 2010/11 results. Key highlights include:
- Revenue grew 12.5% to R$1.5 billion driven by acquisitions in Brazil and higher sugar production.
- Adjusted EBITDA increased 44.3% to R$286 million due to strong performance in Brazil and integration of recent acquisitions.
- In Brazil, sugarcane crushing reached a record 8.8 million tons and sugar production increased 82.8% due to integration of recent acquisitions and increased capacity.
- Syral in Europe maintained stable revenues and volumes despite closing one plant, though margins declined due to higher costs.
Tereos Internacional reported its 2012/13 year-end results. Revenues increased 11.1% to R$7.6 billion due to higher sales volumes in sugarcane and starch & sweeteners segments. Adjusted EBITDA declined 9.4% to R$869 million due to higher cereal prices and reduced ethanol volumes in Europe. In Brazil, sugarcane crushing volumes increased but earnings declined due to lower sugar and ethanol prices. The Indian Ocean/Africa segment reported increased revenues and adjusted EBITDA due to favorable commercial conditions and volume growth. The starch & sweeteners segment saw revenue growth from higher volumes and prices but adjusted EBITDA declined due to a sharp rise in raw material costs
Tereos Internacional reported its first quarter 2012/13 results. Key highlights included:
- Revenues of R$1.7 billion, stable year-over-year at constant currency due to favorable pricing offsetting reduced volumes.
- Adjusted EBITDA of R$156 million, down 26.7% year-over-year at constant currency due to delayed production in Brazil from unusual weather.
- A R$370 million capital increase that was 100% subscribed to finance expansion in Europe and diversification in Brazil.
Tereos Internacional reported its second quarter 2012/13 results. Key highlights included a recovery in the Brazilian sugarcane operations due to increased sales volumes and lower input costs. The company also saw higher sales volumes across most business segments. However, raw material costs impacted the cereals business. Looking forward, the company expects sugarcane crushing in Brazil to increase to between 18.2-18.4 million tonnes for the current crop.
Tereos Internacional reported financial results for Q1 2013/14 with total revenues of R$1.9 billion, a 17.6% increase over the previous year. Adjusted EBITDA was R$209.5 million, up 55.8% compared to Q1 2012/13. The sugarcane division in Brazil performed strongly with higher volumes and improved margins. Guarani, the Brazilian sugarcane subsidiary, saw increases in sugarcane crushed, sugar and ethanol production which contributed to a 226.5% rise in Adjusted EBITDA to R$125.2 million.
The document summarizes Tereos Internacional's financial results for the first quarter of the 2013/14 fiscal year. Major reporting changes include adopting a new accounting standard that requires joint ventures to be equity accounted rather than proportionally consolidated. Segment information is now presented on a standalone and contributive basis. The results show a 17.6% increase in revenues driven by higher sales volumes in Brazil and higher prices in Europe. Adjusted EBITDA increased 56.7% to R$210 million due to recovery in the Brazilian business from higher production volumes and cost dilution, as well as improved results in other segments.
- Revenues totaled EUR 305.7m in Q2 2020, compared to EUR 326.5m in Q2 2019. Recurring aftermarket revenues remained resilient at around 38% of total revenues.
- The EBIT margin was 14.7% in Q2 2020, driven by good product mix and project execution, lower operating expenses, and streamlining initiatives. Free cash flow was strong at EUR 47.6m.
- Net result was EUR 30.7m in Q2 2020 compared to EUR 34.3m in Q2 2019. Orders received totaled EUR 280.1m compared to EUR 311.2m in Q2 2019 and the
- Revenues for Q1 2021 totaled EUR 334m, up 10.7% from Q1 2020. Orders received were also up year-over-year at EUR 369m.
- Gross profit was 37.2% of revenues, impacted by higher costs of customer deliveries due to logistical challenges. Operating expenses increased to support growth initiatives.
- Adjusted EBIT margin was 11.4%, up from 8.4% in Q1 2020. Net result increased 58.2% to EUR 21.2m.
- Revenues in Q1 2020 totaled EUR 302m, down 7.1% from EUR 325m in Q1 2019, due to lower volumes.
- Adjusted EBIT margin was 8.4% compared to 14.6% in Q1 2019, impacted by lower volumes and EUR 3m in restructuring costs.
- Orders received were up 8.8% to EUR 352m and the order book stands at EUR 465m, providing a solid base for the rest of the year.
The document is a presentation of Açúcar Guarani S.A.'s Q2 09/10 results. It summarizes that sugar prices were at their highest level in 28 years, supported by lower production in major countries. Guarani's net revenue grew 27.7% in Q2 driven by a 49.8% increase in sugar prices. Adjusted EBITDA rose 49.9% in H1 09/10 due to higher sugar prices. Net profit was R$13.8 million in H1 compared to a loss last year, positively impacted by price recovery and FX effects. The outlook for sugar and ethanol prices remains positive on supply constraints.
- Revenues totaled EUR 287.2m in Q3 2020, down 8.1% from EUR 312.5m in Q3 2019, with 41% of revenues from recurring aftermarket sales.
- Gross profit was EUR 113m or 39.2% of revenues in Q3 2020, up from 38.2% in Q3 2019, due to favorable product mix and good project execution.
- Adjusted EBIT was EUR 44m or 15.4% of revenues in Q3 2020, up from 14.2% in Q3 2019, benefiting from lower operating expenses in addition to improved gross profit margins.
Marel reported strong Q4 2020 results with revenues of EUR 343m, up 7% from Q4 2019. EBIT margin was 15.2% in Q4 2020 compared to 10.0% in Q4 2019. For full year 2020, Marel reported revenues of EUR 1,238m and an EBIT margin of 13.5%. Key strategic acquisitions of TREIF, PMJ and an investment in Stranda were completed. Orders received in Q4 and for the full year were on par with 2019 levels and the order book stood at EUR 416m, providing a solid foundation for 2021.
1) Açúcar Guarani reported strong financial results for Q1 2009/2010, with an 18.1% increase in net revenue driven by higher sugar prices in Reais and a 185.1% increase in adjusted EBITDA to R$49.9 million.
2) Sugar production and sales increased compared to the previous year, with a focus on the domestic market, while ethanol production was up but revenue decreased.
3) Sugarcane crushing was up 9.5% due to increased own cane supply and a stable contribution from third parties.
2017 INTERIM RESULTS PRESENTATION: Afrox’s results for the half-year ended 30 June 2017 were released on the JSE Stock Exchange News Service today, 8 September, at 7.05am. Accordingly, Afrox invites all stakeholders (shareholders, media and analysts) to participate in the Company’s 2017 interim results presentation from 10.30am to 11.30am via a live webcast of the presentation, which can be accessed by following this link: http://www.corpcam.com/Afrox08092016
Total delivered strong results in 2018, with production growth of 8% and adjusted net income of $13.6 billion. The company consistently delivered on its objectives, including capital discipline with investment of $15.6 billion. Total is well positioned for future growth, with major projects set to increase production by over 9% in 2019 and a portfolio of high return projects that can deliver over 700 kboe/d of new production by 2020. The company will continue to focus on cash flow growth, cost reductions, and returning cash to shareholders.
- Marel reported strong orders received in Q3 2021 leading to a healthy order book, with strong performance in poultry and fish but softer orders for meat. Revenues were up 15.6% year-over-year.
- Gross profit was 37.1% in Q3 2021, impacted by higher costs of customer deliveries due to supply chain challenges. Profitability was also hampered by increased operating expenses to support growth.
- The order book at the end of Q3 2021 was EUR 528 million, representing 39.5% of trailing 12-month revenues, supported by a book-to-bill ratio of 1.09x in Q3 2021.
The document reports on the financial results of Tereos Internacional for the fourth quarter and full year of 2010/11. It highlights that revenues increased 24.2% in Q4 and 13.5% for the full year due to double-digit growth in both cereal and sugarcane operations. Adjusted EBITDA rose 16.7% in Q4 and 10.3% for the full year, driven by higher ethanol and sugar prices in Brazil as well as price increases for starch and ethanol in Europe. For the outlook, the document notes that market fundamentals remain strong for sugar, starch and ethanol.
Tereos Internacional reported strong financial results for Q3 2011/12, with revenues increasing 14.4% to R$1.8 billion driven by higher prices across key products. Adjusted EBITDA grew 4.4% to R$271 million. The Brazilian business was impacted by lower sugarcane volumes but this was offset by better results in other regions like the Indian Ocean and Europe. The company also advanced strategic initiatives through acquisitions and increased stakes in subsidiaries to reinforce its leadership positions.
Tereos Internacional reported record first quarter net profits, driven by a strong increase in operating income. Revenues increased 47% to R$1.6 billion, largely due to higher sugar and ethanol prices. Adjusted EBITDA doubled to R$206 million compared to the previous year. The results were positively impacted by recent acquisitions as well as strong pricing environments for sugar and ethanol. Looking forward, concerns over reduced sugar production in Brazil may continue supporting high sugar prices.
Tereos Internacional reported record results for the third quarter of 2010/11, with revenues increasing 31.3% year-over-year driven by strong growth in the sugarcane segment. Net income was a record R$143 million, up significantly from R$14 million in the prior year quarter. The sugarcane segment performed well due to higher sales volumes and prices. The cereal segment faced challenges from higher raw material costs and currency effects. Working capital increased seasonally during the quarter. Outlook for the remainder of the year remains positive for sugarcane but challenging for cereals.
Tereos Internacional reported its 2012/13 year-end results. Revenues increased 11.1% to R$7.6 billion due to higher sales volumes in sugarcane and starch & sweeteners segments. Adjusted EBITDA declined 9.4% to R$869 million due to higher cereal prices and reduced ethanol volumes in Europe. In Brazil, sugarcane crushing volumes increased but earnings declined due to lower sugar and ethanol prices. The Indian Ocean/Africa segment reported higher volumes and a 20% increase in adjusted EBITDA. The starch & sweeteners segment saw revenue growth of 19% but adjusted EBITDA fell 9% as higher raw material costs offset increased prices and volumes.
Tereos Internacional Q1 10/11 Earnings PresentationAlexandre Menezio
Tereos Internacional reported financial results for the first quarter of 2010/11. Key highlights included record sugar and ethanol production in Brazil but lower revenues and EBITDA impacted by currency effects and non-recurring costs. Revenues were down 13.1% reported but up 2.1% at constant currency. EBITDA fell 43.5% due to a R$196 million currency impact and R$32 million in non-recurring costs in Brazil. The company saw a reduction in net debt of R$91 million despite acquisitions. Segment results were mixed with strong production in Brazil offset by currency impacts in other segments. Key markets showed signs of recovery in demand.
Tereos Internacional reported financial results for the first quarter of 2010/11. Net revenues were R$1.1 billion, down 13.1% due to currency effects but up 2.1% excluding currency. EBITDA was R$113 million, down 43.5% due to currency effects and non-recurring items in Brazil. Production reached records in Brazil while segments were impacted by currency effects, maintenance, and testing new raw materials. The company aims to accelerate growth through recent acquisitions and partnerships.
Tereos Internacional reported its second quarter 2012/13 results. Key highlights included a recovery in the Brazilian sugarcane operations due to increased sales volumes and lower input costs. The company also saw higher sales volumes across most businesses. Adjusted EBITDA increased despite rising cereal input costs and production disruptions during a gluten factory start-up. Looking forward, the company expects sugarcane crushing in Brazil to increase to between 18.2-18.4 million tonnes for the current crop.
Tereos Internacional reported financial results for the fourth quarter and full year of 2011/12. For the quarter, revenues increased 20% driven by higher sugarcane sales in Brazil. Adjusted EBITDA grew 11% due to strong performance in Brazil and Indian Ocean. For the full year, revenues rose 19% from favorable pricing across all segments. Adjusted EBITDA increased 13% with improved results in sugarcane offsetting lower volumes in Brazil. Looking ahead, Tereos will use proceeds from a capital increase to fund expansion projects in Brazil, China, and Europe.
Tereos Internacional reported financial results for Q1 2013/14 with total revenues of R$1.9 billion, a 17.6% increase over the previous year. Adjusted EBITDA was R$209.5 million, up 55.8% compared to Q1 2012/13. The sugarcane division in Brazil performed strongly with higher volumes and improved margins. Guarani, the Brazilian sugarcane subsidiary, saw increases in sugarcane crushed, sugar and ethanol production which contributed to a 226.5% rise in Adjusted EBITDA to R$125.2 million.
The document summarizes Tereos Internacional's financial results for the first quarter of the 2013/14 fiscal year. Major reporting changes include adopting a new accounting standard that requires joint ventures to be equity accounted rather than proportionally consolidated. Segment information is now presented on a standalone and contributive basis. The results show a 17.6% increase in revenues driven by higher sales volumes in Brazil and higher prices in Europe. Adjusted EBITDA increased 56.7% to R$210 million due to recovery in the Brazilian business from higher production volumes and cost dilution, as well as improved results in other segments.
- Revenues totaled EUR 305.7m in Q2 2020, compared to EUR 326.5m in Q2 2019. Recurring aftermarket revenues remained resilient at around 38% of total revenues.
- The EBIT margin was 14.7% in Q2 2020, driven by good product mix and project execution, lower operating expenses, and streamlining initiatives. Free cash flow was strong at EUR 47.6m.
- Net result was EUR 30.7m in Q2 2020 compared to EUR 34.3m in Q2 2019. Orders received totaled EUR 280.1m compared to EUR 311.2m in Q2 2019 and the
- Revenues for Q1 2021 totaled EUR 334m, up 10.7% from Q1 2020. Orders received were also up year-over-year at EUR 369m.
- Gross profit was 37.2% of revenues, impacted by higher costs of customer deliveries due to logistical challenges. Operating expenses increased to support growth initiatives.
- Adjusted EBIT margin was 11.4%, up from 8.4% in Q1 2020. Net result increased 58.2% to EUR 21.2m.
- Revenues in Q1 2020 totaled EUR 302m, down 7.1% from EUR 325m in Q1 2019, due to lower volumes.
- Adjusted EBIT margin was 8.4% compared to 14.6% in Q1 2019, impacted by lower volumes and EUR 3m in restructuring costs.
- Orders received were up 8.8% to EUR 352m and the order book stands at EUR 465m, providing a solid base for the rest of the year.
The document is a presentation of Açúcar Guarani S.A.'s Q2 09/10 results. It summarizes that sugar prices were at their highest level in 28 years, supported by lower production in major countries. Guarani's net revenue grew 27.7% in Q2 driven by a 49.8% increase in sugar prices. Adjusted EBITDA rose 49.9% in H1 09/10 due to higher sugar prices. Net profit was R$13.8 million in H1 compared to a loss last year, positively impacted by price recovery and FX effects. The outlook for sugar and ethanol prices remains positive on supply constraints.
- Revenues totaled EUR 287.2m in Q3 2020, down 8.1% from EUR 312.5m in Q3 2019, with 41% of revenues from recurring aftermarket sales.
- Gross profit was EUR 113m or 39.2% of revenues in Q3 2020, up from 38.2% in Q3 2019, due to favorable product mix and good project execution.
- Adjusted EBIT was EUR 44m or 15.4% of revenues in Q3 2020, up from 14.2% in Q3 2019, benefiting from lower operating expenses in addition to improved gross profit margins.
Marel reported strong Q4 2020 results with revenues of EUR 343m, up 7% from Q4 2019. EBIT margin was 15.2% in Q4 2020 compared to 10.0% in Q4 2019. For full year 2020, Marel reported revenues of EUR 1,238m and an EBIT margin of 13.5%. Key strategic acquisitions of TREIF, PMJ and an investment in Stranda were completed. Orders received in Q4 and for the full year were on par with 2019 levels and the order book stood at EUR 416m, providing a solid foundation for 2021.
1) Açúcar Guarani reported strong financial results for Q1 2009/2010, with an 18.1% increase in net revenue driven by higher sugar prices in Reais and a 185.1% increase in adjusted EBITDA to R$49.9 million.
2) Sugar production and sales increased compared to the previous year, with a focus on the domestic market, while ethanol production was up but revenue decreased.
3) Sugarcane crushing was up 9.5% due to increased own cane supply and a stable contribution from third parties.
2017 INTERIM RESULTS PRESENTATION: Afrox’s results for the half-year ended 30 June 2017 were released on the JSE Stock Exchange News Service today, 8 September, at 7.05am. Accordingly, Afrox invites all stakeholders (shareholders, media and analysts) to participate in the Company’s 2017 interim results presentation from 10.30am to 11.30am via a live webcast of the presentation, which can be accessed by following this link: http://www.corpcam.com/Afrox08092016
Total delivered strong results in 2018, with production growth of 8% and adjusted net income of $13.6 billion. The company consistently delivered on its objectives, including capital discipline with investment of $15.6 billion. Total is well positioned for future growth, with major projects set to increase production by over 9% in 2019 and a portfolio of high return projects that can deliver over 700 kboe/d of new production by 2020. The company will continue to focus on cash flow growth, cost reductions, and returning cash to shareholders.
- Marel reported strong orders received in Q3 2021 leading to a healthy order book, with strong performance in poultry and fish but softer orders for meat. Revenues were up 15.6% year-over-year.
- Gross profit was 37.1% in Q3 2021, impacted by higher costs of customer deliveries due to supply chain challenges. Profitability was also hampered by increased operating expenses to support growth.
- The order book at the end of Q3 2021 was EUR 528 million, representing 39.5% of trailing 12-month revenues, supported by a book-to-bill ratio of 1.09x in Q3 2021.
The document reports on the financial results of Tereos Internacional for the fourth quarter and full year of 2010/11. It highlights that revenues increased 24.2% in Q4 and 13.5% for the full year due to double-digit growth in both cereal and sugarcane operations. Adjusted EBITDA rose 16.7% in Q4 and 10.3% for the full year, driven by higher ethanol and sugar prices in Brazil as well as price increases for starch and ethanol in Europe. For the outlook, the document notes that market fundamentals remain strong for sugar, starch and ethanol.
Tereos Internacional reported strong financial results for Q3 2011/12, with revenues increasing 14.4% to R$1.8 billion driven by higher prices across key products. Adjusted EBITDA grew 4.4% to R$271 million. The Brazilian business was impacted by lower sugarcane volumes but this was offset by better results in other regions like the Indian Ocean and Europe. The company also advanced strategic initiatives through acquisitions and increased stakes in subsidiaries to reinforce its leadership positions.
Tereos Internacional reported record first quarter net profits, driven by a strong increase in operating income. Revenues increased 47% to R$1.6 billion, largely due to higher sugar and ethanol prices. Adjusted EBITDA doubled to R$206 million compared to the previous year. The results were positively impacted by recent acquisitions as well as strong pricing environments for sugar and ethanol. Looking forward, concerns over reduced sugar production in Brazil may continue supporting high sugar prices.
Tereos Internacional reported record results for the third quarter of 2010/11, with revenues increasing 31.3% year-over-year driven by strong growth in the sugarcane segment. Net income was a record R$143 million, up significantly from R$14 million in the prior year quarter. The sugarcane segment performed well due to higher sales volumes and prices. The cereal segment faced challenges from higher raw material costs and currency effects. Working capital increased seasonally during the quarter. Outlook for the remainder of the year remains positive for sugarcane but challenging for cereals.
Tereos Internacional reported its 2012/13 year-end results. Revenues increased 11.1% to R$7.6 billion due to higher sales volumes in sugarcane and starch & sweeteners segments. Adjusted EBITDA declined 9.4% to R$869 million due to higher cereal prices and reduced ethanol volumes in Europe. In Brazil, sugarcane crushing volumes increased but earnings declined due to lower sugar and ethanol prices. The Indian Ocean/Africa segment reported higher volumes and a 20% increase in adjusted EBITDA. The starch & sweeteners segment saw revenue growth of 19% but adjusted EBITDA fell 9% as higher raw material costs offset increased prices and volumes.
Tereos Internacional Q1 10/11 Earnings PresentationAlexandre Menezio
Tereos Internacional reported financial results for the first quarter of 2010/11. Key highlights included record sugar and ethanol production in Brazil but lower revenues and EBITDA impacted by currency effects and non-recurring costs. Revenues were down 13.1% reported but up 2.1% at constant currency. EBITDA fell 43.5% due to a R$196 million currency impact and R$32 million in non-recurring costs in Brazil. The company saw a reduction in net debt of R$91 million despite acquisitions. Segment results were mixed with strong production in Brazil offset by currency impacts in other segments. Key markets showed signs of recovery in demand.
Tereos Internacional reported financial results for the first quarter of 2010/11. Net revenues were R$1.1 billion, down 13.1% due to currency effects but up 2.1% excluding currency. EBITDA was R$113 million, down 43.5% due to currency effects and non-recurring items in Brazil. Production reached records in Brazil while segments were impacted by currency effects, maintenance, and testing new raw materials. The company aims to accelerate growth through recent acquisitions and partnerships.
Tereos Internacional reported its second quarter 2012/13 results. Key highlights included a recovery in the Brazilian sugarcane operations due to increased sales volumes and lower input costs. The company also saw higher sales volumes across most businesses. Adjusted EBITDA increased despite rising cereal input costs and production disruptions during a gluten factory start-up. Looking forward, the company expects sugarcane crushing in Brazil to increase to between 18.2-18.4 million tonnes for the current crop.
Tereos Internacional reported financial results for the fourth quarter and full year of 2011/12. For the quarter, revenues increased 20% driven by higher sugarcane sales in Brazil. Adjusted EBITDA grew 11% due to strong performance in Brazil and Indian Ocean. For the full year, revenues rose 19% from favorable pricing across all segments. Adjusted EBITDA increased 13% with improved results in sugarcane offsetting lower volumes in Brazil. Looking ahead, Tereos will use proceeds from a capital increase to fund expansion projects in Brazil, China, and Europe.
Tereos Internacional reported its third quarter 2012/13 results. Key highlights include:
- Record net revenues driven by higher volumes in sugarcane and starch segments.
- Adjusted EBITDA increased year-over-year thanks to the sugarcane divisions, despite challenges in the alcohol and ethanol segment from technical issues at a new facility.
- Cash flow was negative due to ongoing strategic investments and seasonal working capital needs.
Tereos Internacional reported its second quarter 2014/15 results. Sugarcane crushing volumes in Brazil were up 5% year-over-year due to improved agricultural performance. However, adjusted EBITDA declined 41% due to lower sugar sales volumes and higher costs. In the cereal segment, grinding volumes increased 7% while adjusted EBITDA rose 30% thanks to benefits from the "Performance 2015" initiative despite soft market conditions in Europe. Overall, revenues declined 10% and adjusted EBITDA fell 19% as lower sugar prices and volumes offset profitability gains in cereals.
Tereos Internacional reported on its 2013/14 fiscal year results. Key points included record sugarcane crushing in Brazil of 19.7 million tonnes, driven by strong yields and benefiting operational performance. Cereal grinding was up 5% due to better capacity utilization. Revenues increased 24% for the Starch & Sweeteners segment however profitability remained pressured. Overall, revenues grew 10% to R$8.3 billion while adjusted EBITDA rose 39% to R$962 million, supported by Brazil operational improvements and better performance in Alcohol & Ethanol Europe.
The document provides highlights from Tereos Internacional's second quarter 2013/14 results. Key points include:
- Revenues increased 17.8% to R$2.207 billion driven by higher volumes in sugarcane and improved prices and mix in starch.
- Adjusted EBITDA rose 18.4% to R$342 million due to cost dilution in sugarcane Brazil from higher volumes and improved efficiency.
- Sugarcane crushing in Brazil was up 3.9% and energy sales increased 44.0% while sugar sales rose 21.2% and ethanol fell 3.3%.
- The starch segment saw revenues increase 31% from better volumes and prices, though profitability remained under
Guarani reported strong financial results for Q3 2009/2010, with record net revenues up 14.3% year-over-year due to higher sugar and ethanol prices. Adjusted EBITDA was up 8.2% year-to-date due to strong performance in Brazil, though impacted by lower production in Mozambique. Net profit was R$15.7 million compared to a net loss last year, driven by a R$80.3 million profit in Brazil offsetting a R$64.6 million loss in Mozambique. Management expects continued high sugar prices over the next 1-2 years and strong ethanol demand and prices in Brazil for the remainder of 2009/2010, positioning Guarani well
Tereos Internacional reported its first quarter 2015/16 results. Key highlights included a good start to the sugar cane harvest in Brazil with improved efficiency compared to the previous year. Volumes harvested were up 4% compared to the previous first 100 days. Higher ethanol prices in Europe contributed to improved performance in the alcohol and ethanol segment. Starch and sweeteners sales volumes increased slightly year-over-year and quarter-over-quarter, but margin pressure continued due to raw material costs. Adjusted EBITDA was down compared to the previous year due to lower prices impacting segments in Europe, Africa and India.
The document is a quarterly report on the Q1 09/10 results of Açúcar Guarani S.A. It summarizes that sugar prices increased significantly due to lower global production. Guarani's revenue and profits increased due to higher sugar prices in Reais. Adjusted EBITDA more than doubled to R$49.9 million due to strong prices and cost controls. The outlook for Guarani and the sugar market remains positive.
- Tereos Internacional reported results for the third quarter of 2013/14 with overall revenues increasing 5.9% year-over-year to R$2,015 million driven by higher volumes in Brazil and Europe as well as currency effects.
- Adjusted EBITDA increased slightly by 5.8% to R$279 million as improvements in Brazil, Europe, and Brazil offset declines in Africa due to weather issues.
- In Brazil, record sugarcane crushing of 19.7 million tons led to increased ethanol and energy sales volumes while adjusted EBITDA benefited from efficiency gains despite lower sugar prices.
- Ethanol and starch segments in Europe saw higher volumes and margins as input
Tereos Internacional reported its 2014/15 year-end results. Key highlights include:
- Sugarcane crushing in Brazil was up 3% to 20.2 million tonnes despite a 13% drop in yields due to drought. Energy sales from cogeneration were up over 50%.
- Adjusted EBITDA for the Brazil segment was down 26% due to higher costs and lower industrial efficiency partially offsetting volume gains.
- Crushing was stable in the Indian Ocean but increased in Africa with improved agricultural yields. Adjusted EBITDA for Africa/Indian Ocean was down 14%.
- Cereal grinding was up 5% overall but ethanol sales declined 33% due to the end of trading activities
Tereos Internacional reported its third quarter 2014/15 results. Key points:
- Sugarcane crushing volumes in Brazil were up 3% year-to-date driven by better agricultural results. Cogeneration sales doubled.
- Volumes increased across most business segments including sugarcane in Indian Ocean/Africa and cereal grinding.
- Adjusted EBITDA was up 14% in Brazil and 21% for starches and sweeteners due to cost reductions. EBITDA declined 79% in Alcohol & Ethanol Europe due to lower prices and volumes.
- Capital expenditures declined year-over-year as expansion programs were completed. Net debt decreased and average debt maturity was lengthened through
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1) O relatório apresenta os resultados do primeiro trimestre de 2015/2016 da Tereos Internacional, com destaque para o bom início da safra de cana-de-açúcar no Brasil e expectativa de bons volumes na África e Oceano Índico.
2) As receitas totais aumentaram 8% em moeda local, mas permaneceram estáveis em moeda constante. O EBITDA Ajustado caiu 7%, impactado principalmente pelos menores preços de açúcar na Europa.
3) Os volumes de vendas de amido e ad
1) Tereos Internacional reportou resultados do terceiro trimestre de 2014/15, com destaque para aumento de 3% na moagem de cana no Brasil e forte crescimento na África.
2) As vendas de açúcar, etanol e energia aumentaram no Brasil. As vendas de amido e adoçantes cresceram globalmente, impulsionadas pelas operações internacionais.
3) A receita líquida aumentou 9%, para R$2,1 bilhões, com melhora da lucratividade na maioria dos segmentos, exceto
Tereos Internacional provided a disclaimer and overview of a presentation given at the Morgan Stanley Latin America Mid-Cap Conference in London on November 11th, 2014. The summary discusses Tereos' profile as a leading producer of sweeteners and bioenergy with a global footprint and diversified raw material processing. Financial highlights note revenues of R$962 million and EBITDA of R$123 million for fiscal year 2013/2014.
Este documento apresenta informações sobre a Tereos Internacional para investidores e analistas. Resume a estrutura acionária, as operações globais, as divisões de negócios de cana-de-açúcar e cereais, e fornece indicadores financeiros e de mercado.
O documento resume os resultados financeiros da Tereos Internacional no segundo trimestre de 2014/15. Houve queda na receita líquida de 3% devido a menores preços e volumes de açúcar no Brasil e cana-de-açúcar na África/Oceano Índico. O EBITDA ajustado caiu 19% principalmente pela pior rentabilidade da divisão de cana-de-açúcar no Brasil, com menores vendas de açúcar e maiores custos. A divisão de cereais teve melhor desempenho graças
O documento resume os resultados financeiros e operacionais da Tereos Internacional para o ano fiscal 2013/14. Destaca o crescimento da receita impulsionado por maiores volumes de vendas no Brasil e Europa. O EBITDA ajustado aumentou com a diluição de custos no Brasil e melhor desempenho na Europa. A produção de cana-de-açúcar no Brasil atingiu recorde de 19,7 milhões de toneladas.
Tereos internacional presentation_port_3_mTereosri
(1) Tereos Internacional divulgou seus resultados do terceiro trimestre de 2013/14.
(2) A receita líquida aumentou 5,9% impulsionada pelo melhor desempenho operacional da unidade Lillebonne na Europa e melhores preços de etanol e energia no Brasil.
(3) O EBITDA ajustado cresceu 5,8% com melhora na rentabilidade de todos os segmentos, exceto na África/Oceano Índico devido a condições climáticas adversas.
1) As vendas de açúcar e energia da Guarani no Brasil aumentaram significativamente no segundo trimestre, melhorando os lucros.
2) Na África e Oceano Índico, a produção se manteve estável, com aumento nas vendas e lucros.
3) As vendas de amido e adoçantes aumentaram levemente, mas as margens permaneceram pressionadas.
O documento apresenta: (1) informações sobre uma reunião pública da Tereos Internacional com investidores e analistas em São Paulo; (2) um aviso sobre as informações apresentadas não terem sido verificadas independentemente e sobre riscos envolvendo projeções; (3) a agenda da reunião incluindo apresentações sobre a Tereos como líder global em açúcar, amido e bioenergia e sobre suas operações de cana-de-açúcar e cereais no Brasil e internacionalmente.
16,6%
Margem Bruta
1. O documento apresenta os resultados financeiros e operacionais da Tereos Internacional no segundo trimestre de 2013/14.
2. Destaca-se o aumento na receita líquida, impulsionado por maiores volumes de cana-de-açúcar no Brasil e efeito cambial positivo.
3. O EBITDA ajustado também cresceu, com melhora na eficiência das operações de cana-de-açúcar no Brasil e menores custos com matérias-primas na
The document provides an earnings release for Açúcar Guarani for the second quarter of 2008, highlighting decreases in sugar prices, increases in ethanol production and sales, financial results including revenue and EBITDA, inauguration of a new ethanol plant, and leadership changes including a new CEO.
Divulgação de resultados 2 t08 port (apresentação)Tereosri
Este documento resume os resultados financeiros e operacionais da Açúcar Guarani no 2T08. Apresenta queda nos preços do açúcar e aumento na produção e vendas de etanol. Destaca o crescimento da receita, EBITDA e vendas de etanol, assim como a inauguração de uma nova unidade voltada à produção de etanol hidratado.
O documento resume os principais resultados financeiros da Tereos Internacional no primeiro trimestre de 2013/14. Destaca o crescimento da receita líquida impulsionado por maiores volumes de vendas no Brasil e na África/Oceano Índico. Também ressalta a recuperação do EBITDA ajustado em relação ao ano anterior, principalmente devido aos maiores volumes de cana-de-açúcar processados no Brasil.
Guarani's Q4 and full year 2008/09 results presentation covers:
- Record revenues of R$1.17 billion due to higher sugar and ethanol prices and increased volumes.
- Adjusted EBITDA increased 45.6% to R$228.3 million due to price increases.
- A net loss of R$291 million was reported, impacted by non-cash effects of currency depreciation and amortization expenses.
- CAPEX was reduced with a focus on sugarcane plantations and selective efficiency projects.
- The outlook for 2009/10 is positive with expectations for continued strong sugar prices and stable ethanol demand.
O documento resume os resultados financeiros e operacionais da Açúcar Guarani para o 4o trimestre e ano fiscal de 2008/2009. A empresa obteve receita líquida recorde de R$1,2 bilhão, impulsionada por maiores preços e volumes de açúcar e etanol. No entanto, teve prejuízo líquido de R$291 milhões devido a efeitos não caixa da desvalorização cambial e amortização de ágio. A dívida líquida foi reduzida em 20,5% e a empresa focará em reduz
O relatório apresenta os resultados do primeiro trimestre de 2009/2010 da Açúcar Guarani. Os principais pontos são:
1) Aumento de 185% no EBITDA ajustado em comparação ao mesmo período do ano anterior, alcançando R$49,9 milhões.
2) Lucro líquido de R$14,3 milhões no trimestre, revertendo prejuízo do ano anterior.
3) Crescimento de 9,5% na moagem de cana-de-açúcar e aumento na produção de açúcar e etanol.
O documento apresenta os resultados do 2o trimestre de 2009/2010 da Açúcar Guarani. Os preços mundiais do açúcar atingiram o maior nível dos últimos 28 anos, sustentando os preços domésticos. A receita líquida cresceu 27,7% impulsionada pelos maiores preços do açúcar. O EBITDA ajustado aumentou 49,9% no primeiro semestre e 9,8% no segundo trimestre.
A Guarani registrou receita líquida recorde no 3o trimestre de 2009/2010, impulsionada pelos maiores preços de açúcar e etanol. Entretanto, o lucro líquido foi impactado negativamente pelas operações em Moçambique, que sofreram com a seca e desvalorização cambial, registrando prejuízo. As operações brasileiras tiveram bom desempenho, com lucro líquido de R$80,3 milhões. A empresa planeja ampliar capacidade de produção de açúcar nas próximas safr
A Guarani obteve resultados financeiros positivos em 2009/10, com receita líquida recorde de R$ 1,4 bilhão, apesar da queda na produção de açúcar e etanol devido às condições climáticas. A empresa expandiu sua capacidade de moagem através de parcerias e investimentos. Uma parceria com a Petrobras Biocombustível visa acelerar o crescimento da Guarani no setor sucroenergético brasileiro.
Guarani achieved record net revenues in 2009/10 due to higher sugar and ethanol prices, despite lower volumes sold. Adjusted EBITDA more than doubled to R$334.9 million, with a margin of 24.6%, returning the company to net profit. However, Mozambican operations reported a loss due to drought. Sugar prices reached 28-year highs but have since declined, while ethanol prices remained above prior year levels. Guarani crushed 14.5 million tons of sugarcane in 2009/10.
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4. * Adjusted EBITDA/EBIT: EBITDA/EBIT excluding items from discontinued operations, accounting effect of adjustments in the
fair value of the financial instruments and of the biological assets
Strong revenues: R$1.6 billion…
• Year-on-Year: + 8.7% at constant currency
…due to:
• increased year-on-year prices across all key products categories
• higher volumes sold for the EU ethanol segment and Indian Ocean sugarcane
segment
Record EBITDA: R$282 MM
• EBITDA margin of 17.1% 370 bps improvement from Q1
Adjusted EBITDA*: R$264 MM
• -7.5% Year-over-Year +28.2% Quarter-on-Quarter
Q2 2011/12 - Financial Highlights
Strong quarter revenues and EBITDA demonstrating benefits of Company’s complementary
portfolio
4
5. * Adjusted EBITDA/EBIT: EBITDA/EBIT excluding items from discontinued operations, accounting effect of adjustments in the
fair value of the financial instruments and of the biological assets
H1 11/12 revenues: R$3.2 billion, up 24.9% at constant currency
• Year-on-year increase in prices across all key products categories
• +21.6% for Brazil and +25.6% for Starch Europe, at constant currency
Adjusted EBITDA*: R$470.8 MM, up 21.4% at constant currency
• Adjusted EBITDA margin of 14.5%
• EBITDA: R$497.1 MM, up 45.3% at constant currency
Net financial expenses: R$87.8 MM, down 17.4% at constant currency
• Loss on foreign exchange: R$6.2 million
Consolidated net result: R$65.6 MM, an increase of R$148.6 MM at constant
currency
H1 2011/12 - Financial Highlights
Higher prices boosting revenues and EBITDA
5
6. Q2 2011/12 - Market Fundamentals
Sugar: Shortfall in Brazil supports prices
• UNICA’s new estimate for 2011/12 Center-south crop: 489 MM tons (-14.1% vs.
the 1st estimate)
• Bumper crop expected in Thailand, EU and Russia
Starch: Cereal prices down driven by higher production estimates
• Average corn and wheat prices down 14% from Q1 to Q2
• USDA estimates an improvement in world wheat balance
• Wheat prices remained cheaper than corn during the quarter (average 5
EUR/ton)
Ethanol: Tight balance across main markets maintaining high prices
• Brazil: limited supply still supporting higher prices
• Europe: ethanol supply lags behind blending target
6
7. Sugarcane:
• Guarani revised its original forecast from 18.5 MM tons to 16.2 MM tons
(12.4% reduction), in line with UNICA’s forecast revision
• On time completion of R$800 million announced investment plan: start-up
of ethanol distillery in São José plant and conclusion of annual planting
program
Cereal:
• Selby plant and BENP project on route and expected to come on stream
in the first half of 2012 calendar year
• MoU with Wilmar to process 300,000 tons of wheat in China in the first
phase of the project
7
Q2 2011/12 - Highlights
9. Q2 2011/12 - Revenues
Revenues increase driven by higher prices and better product mix in starch segment
1,648
+ 10.0%
1,498
In R$ MM
Sugarcane
• Revenues: R$ 698 mm -7% vs. Q2 2010/11 at constant currency
• Brazil: -18% as reported -31% volume effect and +34% price effect (ex-hedge)
• Indian Ocean: +46% at constant currency Mainly driven by volume & price increases in Mozambique
Cereal
• Revenues: R$ 949 mm +24% vs. Q2 2010/11 at constant currency
• Starch Europe: + 32% at constant currency Mainly driven by 24% increase in selling prices & mix
• Ethanol Europe: -5% at constant currency Mainly due to -15% effect of trading volume
9
Q2
2010/11
Currency Volume Price &
Mix
Others Q2
2011/12
1,648
1,498 +16
-162
+26+270
10. In R$ MM
Adjusted EBITDA EBITDA
226
282
Q2 2011/12 - Adjusted EBITDA and EBITDA
Impact of lower volumes in Brazil partly offset by higher prices in all segments
+ 24.4%
10
285
264
- 7.5%
Sugarcane
• Brazil: -42% as reported Mainly due to fixed costs diluted on lower volumes
• Indian Ocean: +50% at constant currency Positive effect of higher prices and volumes
Cereal
• Starch: +31% at constant currency Mainly driven by higher selling prices
• Ethanol: 3x higher at constant currency Boosted by own sales (slightly affected by lower trading
activities)
Adjustments
• Sugarcane: - R$ 5 million Fair value of biological assets and financial instruments
• Cereals: - R$ 12 million Fair value of financial instruments
In R$ MM
11. Cash Flow
In R$ Million
H1 2011/12
Adjusted EBITDA 471
Working capital variance (513)
Other operating (including income tax paid) (24)
Operating Cash Flow (66)
Financial interests (56)
Dividends paid and received (51)
Capex (398)
Financial investments (50)
Free Cash Flow (621)
Forex impact (300)
Acquisition & Perimeter impact (14)
Total net debt (935)
Increase in working capital due to higher
stocks in Brazil, reflecting the seasonality
of the quarter (vs. 31/03/11)
Capex & Acquisitions
• Brazil: R$234 million
• Cereals: R$139 million
• Indian Ocean: R$48 million
R$ 300 million Forex impact on total net
debt versus March 2011
11
Cash Flow reflecting the rise in Working Capital and CAPEX
12. Net Debt / Adjusted EBITDA: 3.3x in line with 3.4x at Sept 30, 2010
(12 months Adjusted EBITDA = R$ 935.4 million)
Main reasons for the Net Debt increase:
(i) Non-cash Forex impact;
(ii) Investments; and
(iii) Working capital needs
Debt
In R$ Million
September
30, 2011
March 31,
2011
September
30, 2010
Change
Y-o-Y
Current 1,435 1,684 1,667 -13.9%
Non-current 2,138 1,134 1,236 73.0%
Amortized cost (25) (15) (16) 56.2%
Total Gross Debt 3,547 2,803 2,887 22.9%
In € 1,575 1,364 1,388 13.5%
In USD 1,671 763 757 120.7%
In R$ 258 637 703 -63.3%
Other currencies 69 54 55 25.4%
Cash and cash Equivalent (429) (633) (440) -2.5%
Total Net Debt 3,119 2,170 2,447 27.5%
Related Parties Net Debt (35) (21) (31) 9.7%
Total Net Debt + Related
Parties
3,084 2,149 2,416 27.6%
12
Total Net Debt
R$668 million increase vs September 30, 2010
Gross Debt
Breakdown by currency
Euro
44%
US Dollar
47%
Real
7%
Others
2%
US$ denominated debt related to
sugar export contracts
Debt related to cereal
functional currency
15. Sugarcane Brazil - Production and Sales
Ethanol Sales (‘000 m³) Energy Sales (‘000 MWh)Sugarcane Crushing (MM t) Sugar Sales (‘000 t)
15
Sugarcane crushing: 7.8 million tons - 11% vs. Q2 2010/11
Sugar production: 694,000 tons - 9% vs. Q2 2010/11
• Mix: 63% sugar and 37% ethanol
Ethanol production: 252,000 m³ - 26% vs. Q2 2010/11
• Anhydrous: 38% of total ethanol vs. 33% in Q2 2010/11
Cogeneration: 105,500 MWh - 7% vs. Q2 2010/11
8,8
4,0
5,8
7,8
Q2
10/11
Q3
10/11
Q4
10/11
Q1
11/12
Q2
11/12
179
164 165
140
99
Q2
10/11
Q3
10/11
Q4
10/11
Q1
11/12
Q2
11/12
113
81
51
84
106
Q2
10/11
Q3
10/11
Q4
10/11
Q1
11/12
Q2
11/12
Adverse climatic conditions (drought in 2010 and frost in 2011 winter) and heavy
flowering affected sugarcane yields and sugar content (TRS)
TRS : 146 kg of sugar /ton of sugarcane for Q2 2011/12 vs.156 kg/ton for Q2 2010/11
488
424
233
305
374
Q2
10/11
Q3
10/11
Q4
10/11
Q1
11/12
Q2
11/12
16. Sugar
Ethanol
502
613
Sugarcane Brazil – Q2 Financials
Higher prices for sugar and ethanol partly offset lower volumes
* includes Cogeneration, Agricultural Products and Hedging
Key Figures
In R$ Million
Q2
2011/12
Q2
2010/11
Change
Reported
Revenues 502 613 -18.1%
Gross Profit 40 158 -74.4%
Gross Margin 8.1% 25.9%
EBITDA 115 139 -17.3%
EBITDA Margin 23.0% 22.7%
Adjusted EBITDA 109 188 -42.0%
Adjusted EBITDA Margin 21.8% 30.7%
Capex 95 40 +138.7%
Gross Profit: R$40 million
• Impact of fair value of biological assets:
- R$2.1 million vs. - R$21.4 million in Q2 2010/11
Adjusted EBITDA: R$109 million
• Fair value of financial instruments:
- R$8.0 million vs. + R$24.7 million in Q2 2010/11
Adjusted EBITDA Margin1 including tilling
depreciation would be 32.0%
Sugar: 68% of total revenue
• Sales volume: - 23% vs. Q2 2010/11
• Price (R$/ton): + 27% vs. Q2 2010/11 before hedging
effect
Ethanol: 23% of total revenue
• Sales volume: - 45% vs. Q2 2010/11
• Price (R$/m³): + 41% vs. Q2 2010/11
Capex: R$95 million
• Plantation: R$23 million
• Expansion and cogeneration: R$52 million
• Current investments: R$20 million
In R$ MM
Revenues
16
+ 84
- 94
+ 34
- 66
- 69
(1) Tereos Internacional allocates tilling expenses as
cost. If tilling expenses were allocated as investment,
Adjusted EBITDA would have reached R$ 160
million.
17. Mozambique
Sugarcane crushing: 315,000 tons
• Record quarter crushing
• Quarter agricultural yields reached 77 ton/ha vs 51
ton/ha in Q2 10/11 as a result of irrigation and planting
program
Revenues: R$32 million
• 2.2x higher vs. Q2 2010/11
Adjusted EBITDA: + R$14 million
• Up R$4 million vs. Q2 2010/11
Capex: R$4.7 million
• -R$1 million vs. Q2 2010/11
La Réunion
Sugarcane crushing: 989 000 tons
Revenues: R$164 million
• + R$48 million vs. Q2 2010/11
Adjusted EBITDA: R$44.8 million
• vs. R$29.1 million in Q2 2010/11
Capex: R$10.8 million
• - R$30 million vs. Q2 2010/11
Sugarcane Indian Ocean – Production – Q2 Financials
Better results and improved operations
Key Figures
In R$ Million
Q2
2011/12
Q2
2010/11
Revenues 197 131
Gross Profit 46 (52)
Gross Margin 23.6% (39.6)%
EBITDA 58 25
EBITDA Margin 29.7% 19.1%
Adjusted EBITDA 59 39
Adjusted EBITDA Margin 30.0% 29.9%
Capex 15 47
La Réunion
Sugarcane Crushing (’000 t)
Mozambique
Sugarcane Crushing (‘000 t)
17
1.003
874
989
Q2
10/11
Q3
10/11
Q4
10/11
Q1
11/12
Q2
11/12
230
289
17 65
315
Q2
10/11
Q3
10/11
Q4
10/11
Q1
11/12
Q2
11/12
19. Starch Europe - Production and Sales
Higher cereal grinding and improved sales volumes of ethanol & alcohol and co-products
Co-products Sales (‘000 t)Cereal Grinding (‘000 t) Starch & Sweeteners Sales (‘000 t) Ethanol & Alcohol Sales (‘000 m3)
Cereal grinding: 720,000 tons + 2.6% vs. Q2 2010/11
More wheat ground: different mix of products
Lesser impact in starch and sweeteners volumes and higher impact in co-products
Sales Volumes
• Starch and Sweeteners: + stable vs. Q2 2010/11
• Alcohol & Ethanol: + 4.3% vs. Q2 2010/11
• Co-products (ex-BENP volumes): + 1.9% vs. Q2 2010/11
19
702 696 696
739 720
Q2
10/11
Q3
10/11
Q4
10/11
Q1
11/12
Q2
11/12
424
398 409
440
424
Q2
10/11
Q3
10/11
Q4
10/11
Q1
11/12
Q2
11/12
46
42
44 43
48
Q2
10/11
Q3
10/11
Q4
10/11
Q1
11/12
Q2
11/12
257 253 258 262 262
39
61 68 59
Q2
10/11
Q3
10/11
Q4
10/11
Q1
11/12
Q2
11/12
SYRAL BENP/DVO
20. Starch Europe – Q2 Financials
Solid results driven by higher volumes and prices
Revenues*
In R$ MM
767
591
Starch and
Sweeteners
61.2%
Alcohol and
Ethanol
10.7%
Co-products
and others
28.1%
Key Figures
In R$ Million
Q2
2011/12
Q2
2010/11
Change
Reported
Change
Constant
Currency
Revenues* 767 591 +29.8% +27.4%
Gross Profit* 150 128 +17.2% +14.5%
Gross Margin* 19.6% 21.7%
EBITDA 87 61 +42.6% +39.8%
EBITDA Margin 10.9% 10.3%
Adjusted EBITDA 76 56 +34.1% +31.3%
Adjusted EBITDA Margin 9.5% 9.5%
Capex 38 18 +111.7%
Revenues: +27.4% at constant currency
• +24.5% in prices and mix. Cereal prices increases
mostly passed through to customers
• +3.4% in volumes
Gross Profit: R$150 million
Adjusted EBITDA: R$76 million, up R$21 million
+11 +20
+145
* Excludes the R$ 27.5 million financial impact of the sales of co-
products produced by Tereos BENP and sold by Tereos Syral20
21. Ethanol Europe – Q2 Financials
Higher sales volumes of own ethanol while lower trading sales
Key Figures
In R$ Million
Q2
2011/12
Q2
2010/11
Change
Reported
Change
Constant
Currency
Revenues** 182 160 +13.7% +11.7%
Gross Profit** 34 7 +5x +5x
Gross Margin** 18.7% 4.2%
EBITDA 22 7 +3x +3x
EBITDA Margin 14.4% 4.3%
Adjusted EBITDA 22 7 +3x +3x
Adjusted EBITDA Margin 14.2% 4.3%
Capex 27 7 +4x +4x
Ethanol sales*: 105,800 m³
• Slightly lower than Q2 2010/11. Increase in production
practically offsetting a decrease in trading activities
Revenues**: R$182 million, +11.7% at constant
currency
• FX impact: +1.9%
• Volumes increase (ex-trading): +29.4%
• Prices fall: -2.5%
Improved gross margin and stable EBITDA margin
as compared to Q1 2011/12
Higher production figures, on the back of better
utilization ratios
Capex: R$27 million
• Mainly for gluten project at BENP
* Includes sales of ethanol produced by Tereos
Revenues**
In R$ MM
182
160
21
+3
+47
-24
** Includes the R$ 27.5 million financial impact of the sales of co-
products produced by Tereos BENP and sold by Tereos Syral
-4
23. Sugarcane: focusing on operations, investing in production
Brazil: implementation of R$ 800 MM investment program on production
expansion (sugarcane renewal and new planting, industrial capacities) and
cogeneration (bringing stable income)
• Capex financed by BNDES loan of R$ 800 MM obtained in March 2011
Africa: irrigation and planting program under final phase of implementation and
potential expansion capacity being explored
Cereals: capitalizing on starch production knowledge by entering into growing
economies
EU: conversion of BENP Lillebonne into starch facility launched and Selby’s
activities to come on stream in the H1 2012
Brazil: Completion of starch transaction in Brazil (Syral-Halotek)
China: MoU with Wilmar to develop a starch project in China
23
Tereos Internacional - Conclusion