Cosan S.A. (NYSE:CSAN) Q2 2022 Earnings Conference Call August 15, 2022 9:00 AM ET

Company Participants

Ricardo Lewin – Chief Financial and Investor Relations Officer

Luis Henrique Guimarães – Chief Executive Officer

Conference Call Participants

Isabella Simonato – Bank of America

Thiago Duarte – BTG Pactual

Vicente Neto – Bradesco BBI

Luiz Carvalho – UBS

Bruno Montanari – Morgan Stanley

Gabriel Barra – Citi

Regis Cardoso – Credit Suisse

Lucas Ferreira – JP Morgan

Operator

Good morning, ladies and gentlemen, and thank you for waiting. Welcome to the Cosan’s Conference Call to discuss the Results of the Second Quarter of 2022. Today with us, we have Mr. Luis Henrique Guimarães, CEO; Mr. Ricardo Lewin, CFO and IRO; and Ms. Ana Luisa Perina, IR Manager.

We would like to inform you that this event is being recorded and it has simultaneous translation to English. During this event, all participants will be able to listen to presentation. Afterwards, we’ll begin the question-and-answer session and further instructions will be given.

Before proceeding, let me mention that forward-looking statements that may be made during this presentation regarding the company’s business projects, operating and financial projections and goals are based on beliefs and assumptions of the Cosan’s management as well as on information currently available to the company.

Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions as they relate to future events, and therefore, depend on circumstances that may or may not occur. General economic conditions, industry conditions and other operating factors may affect the company’s future results and may lead to results that differ materially from those expressed in such forward-looking statements.

Now, I would like to turn the conference over to Mr. Ricardo Lewin. Please Mr. Ricardo Lewin, you may proceed.

Ricardo Lewin

Good morning, everyone, and thank you for participating in Cosan’s earnings conference call for the second quarter 2022. With me today, I have Luis Henrique Guimarães, our CEO and Ana Perina, our IR Manager. Before starting the presentation. I would like to point out that we achieved the strong results this quarter consistent with our strategy.

Let’s now go through the main financial and operational highlights of each business. Let’s start on Slide 4 with Raízen. This quieter that marks the start of 2022, 2023, raisings crop year delivered strong operational performance and [indiscernible] in adjusted EBITDA in line with our guidance.

In renewable. the quarter was leveraged by the combination of higher sales volumes and better pricing. In the sugar segment, EBITDA also grew in the quarter supported by greater sales of third-party products and by the better average price, reflecting the effective pricing strategy and higher share of direct sales to destination.