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.
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
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
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.
- 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 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 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.
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 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
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
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.
- 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 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 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.
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 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 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.
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 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.
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 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
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.
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.
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.
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.
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.
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.
- 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.
Electrolux reported mixed financial results for the second quarter of 2018. Net sales increased 0.7% due to price increases and mix improvements, but operating income declined significantly due to large one-time costs related to legal issues in France. Excluding these non-recurring costs, underlying operating income was down modestly as higher material costs and currency headwinds offset efficiency gains. Overall demand was slightly higher in Europe but lower in North America. Electrolux remains focused on price increases, cost reductions, and new product launches to mitigate ongoing cost pressures.
- The company reported record 9M revenues of R$970.7 million, up 14.3%, though adjusted EBITDA was only up 8.2% due to losses in Mozambique from lower production and currency depreciation.
- Net income was R$15.7 million as strong results in Brazil of R$80.3 million were offset by a R$64.6 million loss in Mozambique.
- The outlook is positive due to higher domestic sugar and ethanol prices, expected higher sugar production, and an increase in own sugarcane.
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 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 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 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.
- 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.
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.
Apresentação de resultados 4 q12 eng final v02vigor_ri
This presentation provides an overview of Vigor Alimentos S.A.'s quarterly results and an investment in Itambé S.A. It notes that quarterly revenue increased 10.1% year-over-year excluding UHT milk sales. Gross profit grew 32.0% in 4Q12 compared to last year. Vigor also plans to invest R$410 million to acquire 50% of Itambé S.A., which will help reduce Itambé's debt from R$550 million to R$140 million. The transaction is pending regulatory approval.
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.
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 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.
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 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
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.
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.
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.
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.
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.
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.
- 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.
Electrolux reported mixed financial results for the second quarter of 2018. Net sales increased 0.7% due to price increases and mix improvements, but operating income declined significantly due to large one-time costs related to legal issues in France. Excluding these non-recurring costs, underlying operating income was down modestly as higher material costs and currency headwinds offset efficiency gains. Overall demand was slightly higher in Europe but lower in North America. Electrolux remains focused on price increases, cost reductions, and new product launches to mitigate ongoing cost pressures.
- The company reported record 9M revenues of R$970.7 million, up 14.3%, though adjusted EBITDA was only up 8.2% due to losses in Mozambique from lower production and currency depreciation.
- Net income was R$15.7 million as strong results in Brazil of R$80.3 million were offset by a R$64.6 million loss in Mozambique.
- The outlook is positive due to higher domestic sugar and ethanol prices, expected higher sugar production, and an increase in own sugarcane.
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 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 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 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.
- 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.
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.
Apresentação de resultados 4 q12 eng final v02vigor_ri
This presentation provides an overview of Vigor Alimentos S.A.'s quarterly results and an investment in Itambé S.A. It notes that quarterly revenue increased 10.1% year-over-year excluding UHT milk sales. Gross profit grew 32.0% in 4Q12 compared to last year. Vigor also plans to invest R$410 million to acquire 50% of Itambé S.A., which will help reduce Itambé's debt from R$550 million to R$140 million. The transaction is pending regulatory approval.
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.
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.
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
2014 Half-Year Results - The slides for the analyst presentationLafarge
- Sales were up 3% like-for-like in Q2, with cement volumes up 4% due to price increases and higher demand. EBITDA was up 9% at constant rates, supported by cost cutting measures.
- Cost-saving and innovation initiatives delivered €165M in savings in Q2, on track to meet annual targets. EBITDA margin increased 140bps to 24.3% due to cost measures and price rises.
- €1.1Bn of divestments have been secured year-to-date, with €0.4Bn received in the first half, supporting debt reduction goals. Outlook for 2014 cement market growth remains at 2-5%.
This document provides an interim financial results presentation for RPC Group PLC. Key points include:
- Revenue increased 8% to £524.7 million for the first half of the year. Adjusted operating profit was £46.6 million.
- The company's Vision 2020 strategic plan focuses on organic growth, European acquisitions, and expanding globally.
- Their "Fitter for the Future" optimization program aims to rationalize manufacturing, optimize business portfolio, and realize property value. It is expected to deliver annualized operating profit improvements of at least £10 million.
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 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.
2014 First Quarter Results - The slides for the analyst presentationLafarge
The document provides Lafarge's first quarter 2014 results. Key highlights include:
- EBITDA increased 21% like-for-like to €343 million due to cost cutting and higher volumes.
- Cement volumes were up 11% overall and prices increased 2.0% versus last year.
- Free cash flow improved to €123 million from €265 million in Q1 2013.
- Net debt was reduced by €1.3 billion compared to last year.
2015 First Quarter Results - The slides for the analyst presentation Lafarge
- Lafarge reported solid results for the first quarter of 2015, with EBITDA up 17% supported by cost reduction, pricing, and innovation actions. EBITDA margin increased 180 basis points.
- Cement prices were up 0.6% versus last year and 2.7% compared to Q4 2014. Like-for-like EBITDA was up 14% and net debt was down versus first quarter 2014.
- Lafarge confirmed its target to generate EBITDA of between €3 and €3.2 billion for 2015 and reduce net debt to between €8.5 and €9 billion by year-end.
HeidelbergCement achieved its key operational and financial targets for 2014. Revenue increased 4% to €12.6 billion and operating EBITDA increased 3% to €2.3 billion. Net debt was significantly reduced through the successful disposal of the building products business for over €1.2 billion. The dividend was proposed to increase 25% to €0.75 per share. For 2015, double digit percentage increases are expected in revenue, operating income and net income, and net debt/EBITDA is targeted to remain below 2.8x.
Dabur’s (DABUR) 3QFY15 results were mixed, with consolidated sales growth of 9.2% YoY to INR20.7b (est. INR21.7b) and underlying domestic volume growth of 7.4% (est. 9%). EBITDA posted healthy 18.4% growth YoY to INR3.5b (INR3.5b), while recurring PAT grew 16.2% YoY to INR2.8b (est. INR2.8b).
Repsol: Financial Results First Semester 2014Repsol
The earnings reflect a good performance of the company’s businesses as well as the success in obtaining a compensation agreement for the expropriation of YPF.
To find out more: http://ow.ly/Kc339
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.
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
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.
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$334.9 million, with a margin of 24.6%, returning the company to net profit. However, Mozambican operations reported a loss due to drought. Sugar prices reached 28-year highs but have since declined, while ethanol prices remained above prior year levels. Guarani crushed 14.5 million tons of sugarcane in 2009/10.
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2. Major Reporting Changes
2
Beginning on April 1st, 2013, Tereos Internacional’s financial statements and results presentation will be
adjusted for the following practices and, for comparability purposes, prior year results will be presented on a
pro-forma basis, applying the new practices retrospectively.
Accounting
Adoption of IFRS 11 (Joint Arrangements): all joint ventures are no longer consolidated proportionally in
Tereos Internacional’s balance sheet, income statement and cash flow statement. JVs are now
consolidated under the equity method and the impact on the income statement will be limited to the share
of profit in associates line.
Operational
Intersegment elimination: Segmental information, in the appendix to the accounts, is now presented on
a stand-alone basis (ie. including intra-group sales) as well as on a contributive basis (ie. only external
sales). Revenues presented in this document and in the external communication remain on a contributive
basis.
Change of segmental classification due to Lillebonne’s diversification: given the beginning of the
dextrose line at Lillebonne and considering that this plant’s profile is moving towards the production of
food-related applications, all operational (e.g. volumes grinded) and financial figures (excluding alcohol &
ethanol sales volumes) are now accounted for under the Starch & Sweeteners segment. Therefore,
cereals grinded (and related co-products) in the Alcohol & Ethanol division are only made up of the DVO
plant volumes.
3. R$ Million
Q1 13/14 Q1 12/13
Equity Method
Proportional
Consolidation
Equity Method
Proportional
Consolidation
Revenue 1,908 1,960 1,622 1,678
Adjusted EBITDA 210 224 134 156
Adj. EBITDA Margin 11.0% 11.4% 8.3% 9.3%
EBIT 47 55 (19) (13)
EBIT Margin 2.5% 2.8% -1.2% -0.8%
Net Debt 4,050 4,219 3,335 3,428
Net Debt including
Related Parties
4,101 4,306 3,592 3,702
List of JVs
Sedalcol France, Sedalcol UK, Sedalcol EU, Sedamyl, Sedamyl Services, Uniglad, Magnolia, Dongguang and Vertente
3
Equity Accounting vs. Proportional Consolidation Method
(Reported vs. Pro-forma)
4. Q1 2013/14 Highlights
4
Operational
Guarani: Progress in co-generation (Cruz Alta/São José) and capacity expansion (Vertente/Mandu).
2013/14 planting program with c. 30,000 hectares already achieved
Syral Europe:
Lillebonne volumes progressively increasing (capacity utilization: over 80% in Q1 13/14 and
over 90% in July)
Progressive dextrose production ramp-up at Lillebonne
Syral Brazil:
Satisfactory start of commercial production at Palmital corn-based starch facility
Strategic
Syral China: Most government approvals of Tieling acquisition obtained
Finance
Dividends: R$37.8 million distributed on June 25th, R$0.0462 per share and a dividend yield of
1.4% (as of March 31, 2013)
Governance
Fiscal Board: Reelection of the current members of fiscal board was approved at AGM
Guarani’s new CEO: Alberto Pedrosa was appointed as Guarani’s CEO replacing Jacyr Costa, who
was previously appointed member of Guarani’s Board of Directors, and member of the Executive
Committee of Tereos, representing the group’s sugarcane division
5. Sugar:
Sugar prices remained under pressure as a consequence of a
fourth consecutive world surplus (5.1 million tonnes, LMC) and
a promising crop in Center-South of Brazil (590 million tonnes,
as per UNICA’s last estimates)
Raw sugar prices declined (-6.7%) in the quarter, from 17.7 to
16.4 USD cents/lb. Nevertheless, as of July prices started to
rebound
Starch:
Markets remain bearish for cereal prices due to high productivity
prospects in USA and the start of the harvest period in Europe
Starch volumes are trending up even though prices are under
pressure (especially industrial starches) with new capacity coming
on stream in Europe
Ethanol:
In Brazil, prices remained stable Y-o-Y, despite an increase in
production, due to competitive parity (vs. gasoline) in the quarter.
April/2013 to July/2013 ethanol sales volumes in the Center-
South of Brazil improved 28% Y-o-Y to 8.5 billion m3 due to
higher anhydrous blend (25% as of May 1st).
Rotterdam prices improved substantially Y-o-Y (+7.9%)
but remained largely stable sequentially5 Source: Bloomberg
Market Highlights
300
400
500
600
700
800
Mar-12 Jun-12 Sep-12 Dec-12 Mar-13 Jun-13
NY#11 LIFFE #5
US$/MT
170
190
210
230
250
270
Mar-12 Jun-12 Sep-12 Dec-12 Mar-13 Jun-13
Corn Matif Wheat Matif
€/MT
400
500
600
700
800
700
1000
1300
1600
1900
Mar-12 Jun-12 Sep-12 Dec-12 Mar-13 Jun-13
Brazil ESALQ Europe Rotterdam
R$/m³ €/m³
6. Q1 2013/14 – Revenues
Materially Up on Higher Volumes in Brazil and Higher Prices in Europe
6
Net Revenues (R$ MM)
+17.6%
Revenue growth supported by:
Higher sales volumes for the entire sugarcane segment and starch & sweeteners
Higher prices for starch & sweeteners products and ethanol (Brazil and Europe)
But partially offset by:
Lower sugar prices in Brazil
Reduced ethanol volumes in Europe, although capacity utilization at BENP Lillebonne is
progressively improving sequentially
279 240
800 1.016
152
191392
461
Q1
2012/13
Q1
2013/14
Brazil
Indian
Ocean /
Africa
Starch
Europe
Ethanol
Europe
1,622
1,908
1622
1908
+110 +47 +91 +38
Q1
2012/13
Volume Price & Mix Currency Others Q1
2013/14
7. 134
+87 +11
(12) (8) (1)
210
Q1
2012/13
Brazil Indian
Ocean /
Africa
Starch
Europe
Ethanol
Europe
Holding Q1
2013/14
-2 -3
15 9
67
51
16
27
38
125
Q1
2012/13
Q1
2013/14
Brazil
Indian
Ocean /
Africa
Starch
Europe
Ethanol
Europe
134
210
Q1 2013/14 - Adjusted EBITDA
Adjusted EBITDA Recovery on Weak Q1 12/13 Thanks to Sugarcane
7
Adjusted EBITDA improved year-on-year as a consequence of:
Significant recovery in volumes in Brazil and related cost dilution, together with positive
accounting effect due to late start of the crop
Positive contribution of higher trading activity and favorable sugar sales timing in Indian
Ocean/Africa
Adjusted EBITDA for the cereal division improving sequentially
But partially offset by:
Delayed impact of hedging position on cereal costs
Higher energy and input costs in European Alcohol & Ethanol segment on lower volumes
Adjusted EBITDA (R$ MM)
Margin 11.0%Margin 8.3%
+56.7%
8. 107
134
Q1
12/13
Q1
13/14
Own Sales Trading
4,2
5,7
Q1
12/13
Q1
13/14
240
303
Q1
12/13
Q1
13/14
48
13743
10
Q1
12/13
Q1
13/14
Own Sales Trading
Ethanol Sales (‘000 m³)Sugarcane Crushing (MM t) Sugar Sales (‘000 t)
8
+26.2% YoY +25.2% YoY
Sugarcane Brazil – Production & Sales
Harvesting Favored by Renewal/Expansion Programs on Higher Number of Crushing Days
Energy Sales (‘000 MWh)
+61.8 YoY
Crushing
Recovery in sugarcane volume: 5.7 million tonnes processed (+34.9%) on higher crushing days (59
days vs. 44 days in Q1 12/13)
Yields improving from 88 tonnes/ha to 95 tonnes/ha in Q1 13/14 (+8.0%) with higher sugar content
(+4.0%)
Improvement in production
Overall production (expressed in TRS) up 44% to 719,000 tonnes
Mix: 63% sugar, 37% ethanol
Sugar: 436,000 tonnes +51.9% YoY
Ethanol: 155,000 m³ +32.6% YoY
Progress on cogeneration
Volumes (including trading) up 61.8% to 147 GWh, on slightly lower prices year-on-year
+34.9% YoY
9. 392 461
(47)
+65 +11
+31 +10
Q1
2012/13
Price &
Mix
Volume Price &
Mix
Volume Others Q1
2013/14
Sugarcane Brazil – Financials
Improvement in Adjusted EBITDA Favored by Higher Production Volumes
Key Figures
In R$ Million
Q1
2013/14
Q1
2012/13
Change
Revenues 461 392 18%
Gross Profit 93 -6 18x
Gross Margin 20.2% -1.6%
EBIT 18 (68) -127%
EBIT Margin 4.0% -17.5%
Adjusted EBITDA 125 38 227%
Adjusted EBITDA Margin 27.2% 9.8%
CAPEX 122 147 -17%
9
(1) Tereos Internacional allocates tilling expenses as
cost. If tilling expenses were allocated as investment,
Adjusted EBITDA for Q1 13/14 would have reached
R$153.0 million.
Net Revenues (R$ MM)
Sugar Ethanol
Sugar: 57% of total net revenues
Volumes increased +26.2% to 303,000 tonnes
Average selling price & mix -15.2% Y-o-Y at
870.9 R$/tonne
Ethanol: 36% of total net revenues
Volume sold up +25.2% to 134,000 m3
Prices up 7.3% Y-o-Y at 1,221.4 R$/m3
Cogeneration (ex-trading): R$20.3 million vs.
R$7.2 million in Q1 12/13
Adjusted EBITDA: R$125 million
Increase driven by higher volumes,
positive effect of dilution of fixed costs and
a positive accounting effect of COGS
partially related to the delayed start of the
crop
Adjusted EBITDA Margin1 for Q1 13/14
including tilling as depreciation: 33.2%
Note: Figures for Brazil now exclude JVs
10. 67 77
Q1
12/13
Q1
13/14
117
90
Q1
12/13
Q1
13/14
-22.7% YoY
Sugarcane Indian Ocean/Africa – Production and Financials
Overall Segment Improvement
10
Sugarcane Crushing (’000 t) Sugar sales (‘000 t)
+16.3% YoY
Key Figures
In R$ Million
Q1
2013/14
Q1
2012/13
Change
Revenues 191 152 26%
Gross Profit 41 35 17%
Gross Margin 21.6% 23.1%
EBIT 16 11 55%
EBIT Margin 8.6% 7.0%
Adjusted EBITDA 27 16 67%
Adjusted EBITDA Margin 14.0% 10.6%
CAPEX 37 37 -
Revenue Breakdown by Product
Sugarcane crushing
Indian Ocean: no production in this quarter
Africa: c. 90,000 tonnes crushed (-22.7% Y-o-Y)
due to lower yields but production volume only
slightly down
Revenues: +26% Y-o-Y
Revenues improvement in both operations on
higher volumes tied to positive timing effect in
Indian Ocean and better prices in Africa
Adjusted EBITDA: +67% Y-o-Y
Positive contribution of Indian Ocean
Sugar Indian
Ocean
61%
Sugar Africa
7%
Trading and
others
32%
11. 305 320
Q1
12/13
Q1
12/13
159
125
Q1
12/13
Q1
13/14
450 462
Q1
12/13
Q1
12/13
Cereal Segment - Production and Sales
Slightly Higher Sales Volumes, Except for Ethanol
11
Cereal Grinding
(‘000 t)
Starch & Sweeteners
Sales (‘000 t)
+2.9% YoY +2.6% YoY
Co-products Sales
(‘000 t)
+6.2% YoY
Alcohol & Ethanol
Sales (‘000 m3)
-21.3% YoY
Grinding in Q1 13/14: +2.9% Y-o-Y, on additional capacity in Palmital factory in Brazil and Marckolsheim
in Europe. Sequentially, Lillebonne factory is improving capacity utilization to over 80% in Q1 13/14
Starch & Sweeteners sales: +2.6% Volumes growth in most product categories,
notably functional sweeteners, starches and co-products
Alcohol & Ethanol sales: -21.3% Lower ethanol sales due to factory diversification
(liquid dextrose production start-up) and
Lillebonne gluten ramp-up
808
831
Q1
12/13
Q1
12/13
12. Starch & Sweeteners – Financials
Positive Volume and Price Effect, but Profitability Still Impacted by High Cereal Input Prices
12
Net Revenues (R$ MM)
Revenues: R$1,016 million, up 27%
Better mix and prices in all product categories (+9.7% Y-o-Y, of which +5.6% in Starch & Sweeteners),
reflecting partially increase in grain prices
Growth in volumes (+7.9%) due to higher sales of functional sweeteners, starches and co-products
(impact from recent investments notably Lillebonne and Marckolsheim)
Adjusted EBITDA: R$51 million, down 25% Y-o-Y, but up sequentially (+36.7%)
Delayed effect of hedging positions on cereals impacted profitability, although improved sequentially
Increase in energy prices and consumption
Key Figures
In R$ Million
Q1
2013/14
Q1
2012/13
Change
Revenues 1,016 801 27%
Gross Profit 164 171 -4%
Gross Margin 16.1% 21.3%
EBIT 15 37 -59%
EBIT Margin 1.5% 4.6%
Adjusted EBITDA 51 67 -25%
Adjusted EBITDA Margin 5.0% 8.4%
CAPEX 77 75 2.7%
801
1,016
+63
+77
+60 +15
Q1
2012/13
Volume Price & Mix Currency Others Q1
2013/14
13. Alcohol & Ethanol Europe – Financials
Reduced Volumes Y-o-Y on Factory Diversification and Lower Capacity Utilization
Revenues: R$240 million, down 14%
Positive price impact in the segment: +4.3%
Lower ethanol volumes Y-o-Y due to Lillebonne
diversification, but continued progress
sequentially
Adjusted EBITDA: R$9 million, down 36% Y-o-Y,
but up sequentially (+R$9 million)
Higher energy and input costs
13
Net Revenues (R$ MM)
Revenue Breakdown by Product
Key Figures
In R$ Million
Q1
2013/14
Q1
2012/13
Change
Revenues 240 279 -14%
Gross Profit 11 21 -47%
Gross Margin 4.6 % 7.5%
EBIT (0) 4 -111%
EBIT Margin -0.2% 1.4%
Adjusted EBITDA 9 15 -36%
Adjusted EBITDA Margin 3.8% 5.3%
CAPEX 1 73 -99%
Ethanol own
sales 50%
Ethanol
traded 43%
Co-products
and other
7%
Note: Figures for Alcohol & Ethanol segment now exclude JVs
279
240
(77)
+12
+21 +5
1T
2012/13
Volume Preço &
Mix
Moeda Outros 1T
2013/14
14. 14
Cash Flow Reconciliation
Cash Flow
In R$ Million
Q1 13/14
Adjusted EBITDA 210
Working capital variance (357)
Others (28)
Operating Cash Flow (175)
Financial interests (41)
Dividends paid and received (1)
Capex (239)
Others (16)
Free Cash Flow (473)
Forex impact (313)
Others 6
Net Debt Variation (779)
Working Capital
Partially related to higher seasonal inventories,
currency impact on receivables and inventories, as
well as payables cycle
CAPEX (-28.4% Y-o-Y)
Brazil: 51% of consolidated CAPEX (-16.6% Y-o-Y):
Expansion/renewal planting program
Capacity / cogen expansion program
Higher intercrop maintenance
75% of the investment program completed
Cereals: 32% of consolidated CAPEX (-47.3% Y-o-Y):
Mostly related to starch project in Brazil
Currency Effect on Debt
Devaluation of the Real against Euro (-10.7%) and
USD (-9.4%)
15. Debt
Working Capital and Currency Effect Impacted Net Debt
Net Debt/Adjusted EBITDA: 4.7x vs. 4.4x on March 31st, 2013
15
Debt
In R$ Million
June 30th,
2013
March 31th,
2013 (Restated)
∆
Current 2,064 1,829 775
Non-current 2,595 2,399 196
Amortized cost (26) (26) -
Total Gross Debt 4,633 4,202 431
In € 1,828 1,596 232
In USD 1,832 1,688 144
In R$ 921 882 39
Other currencies 78 62 16
Cash and Cash Equivalent (583) (893) 310
Total Net Debt 4,050 3,309 741
Related Parties Net Debt 51 12 39
Total Net Debt + Related Parties 4,101 3,321 779
16. Cereals
Moving forward with expansion projects:
China: Engineering and equipment purchases mostly done at Dongguan, while civil works are
underway. Most approvals from the Chinese authorities now received for Tieling acquisition
Brazil: production of corn-based glucose at Palmital expected for Q2 13/14
Positive impact of lower wheat purchase price to be felt progressively in Q2 13/14
Benefit of diversification projects in Europe (Saragossa and Lillebonne) to come through progressively
in the year.
Sugarcane
Renewal/expansion program of previous years has reduced average age of sugarcane to 3.3 years
No impact of frosts experienced in Center-South region of Brazil and crushing estimates maintained
at c. 18.5 million tonnes (adjusted for JVs, and equivalent to c. 20 million tonnes on a full
consolidation basis)
Full benefit of higher industrial utilization rates to dilute fixed costs, despite lower sugar prices
Positive contribution of higher cogeneration (expected to double Y-o-Y) and PIS/COFINS tax cut
Guarani 2015/16 program led by recently appointed new CEO
16
Outlook
17. IR Contact
Marcus Thieme
Investor Relations Officer
Felipe Mendes
Investor Relations Manager
Phone: +55 (11) 3544 4900
Email: ir@tereosinternacional.com
www.tereosinternacional.com