BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (NYSE:LND) Q4 2023 Earnings Conference Call September 6, 2023 9:00 AM ET

Corporate Participants

Ana Paula Zerbinati - Investor Relations and Capital Markets Head

André Guillaumon - Chief Executive Officer

Gustavo Lopez - Chief Financial Officer & IRO

Conference Call Participants

Pedro Fonseca - XP

Henrique Brustolin - BTG Pactual

Ana Paula Zerbinati

Good morning. We would like to begin our conference call for the earnings of the full year 2022/2023, which ended on June 30. Thank you to all the participants. On our side we have André Guillaumon, our Chairman, CEO; Gustavo Lopez our CFO and Investor Relations Director: and I am Ana Paula Zerbinati, I'm head of Investor Relations and Capital Markets. Today, we began the call at a different time.

And also, we have holidays tomorrow. And you have access to English version, we have simultaneous translation in progress in English, please send your questions through the zoom or, at the end.

So I would like to pass the floor to André, and we'd like to begin our conference call. Thank you.

André Guillaumon

Thank you, Ana. Thank you to all who are with us and it's even looking like a TV show here but excellent. It's very good to be here every quarter. Once again, we're with you. And to close the year, we will talk about the challenges we had during this year and the things that we did right, the things where we had problems, so it's good to see. So we want always to have transparency, and we won't have your trust.

And also here bringing, as I always say, more and more trying to give you good information about agriculture. Now we have more companies doing a good job as we do, and contributing to reduce the asymmetry in a sector that is so strong, so booming in Brazil, representing 27%, 28% of the GDP of Brazil. And we have less than 10 companies in the stock market -- listed in the stock market. So we want to take advantage of these opportunities with you.

So going straight to the point, what we have in terms of highlights; first, financial highlights, the company surpassed a net revenue of 1.4 billion rise, net profit 268.5 million. Although we will tell you that yesterday, I was talking to some people, this is the year of the X, Y. Because where we have the cost of formation, high cost and low sale price. I even gave an example, cost of production of soybean is like a triangle. Two, three harvests ago, it costs 3.8, now it's 5.2 went back to 4. So a triangle, very high cost for soybean. So it's a year where we had results that were affected by this. We will see this in detail with Gustavo, what happened to our cost of products sold and the revenue of these products. But we haven't adjusted a bit to 534 million and expressive results.