BrasilAgro - Companhia Brasileira de Propriedades Agrícolas (NYSE:LND) Q2 2023 Earnings Conference Call February 8, 2023 12:00 PM ET

Company Participants

Ana Ribeiro - Head, IR

Andre Guillaumon - CEO

Gustavo Lopez - CFO

Conference Call Participants

Thiago Duarte - BTG

Pedro Fonseca - XP Investimentos

Ana Ribeiro

Good afternoon to all. We have a lot of people connected to hear our results. My name is Ana Ribeiro, Head of Investor Relations at BrasilAgro. We're here to talk about the earnings in Q1, the harvest, our financial statements follow the harvest year to minimize the impacts of seasonality, planting and harvesting.

So here we will be talking about Q2 2023 and first six months of the same period. For those who are hearing in English, the presentation is available in chat. So the presentation is available in the chat for those who are following us in English.

Today, we have our CEO, Andre Guillaumon; and Gustavo Lopez, our CFO, to explain to you a little of what happened in the last few months and talk about perspectives for the future.

Thank you. I'd like to pass the floor to Andre. Andre, you have the floor.

Andre Guillaumon

Thank you, Ana Ribeiro. I'd like to thank you all for participating. I'll comment the earnings, bringing the company's numbers, the expectations. Ana used a very wise word seasonality. Seasonality is a characteristic that is inherent to agro business. And we will explain some important numbers and some of these things have to do with seasonality and also the decision to sell. And I hope that at the end of the call, we will have questions.

We continue believing a lot in the company's results in the company's business. We will have a quarter with interesting points about sugarcane. But surely we'll see the meaning of these numbers.

Another challenge, companies like us who have a double strategy, operational results plus sale of farms, real estate happens, the sale of real estate. It happened. We made a small sale, and of course, the objective is to really take the decision to sell at a time when we have a good liquidity in the market.

Let's see the highlights. We need a lot of time for the questions. Financial highlights. We have net revenue R$484 million, net income R$29 million, adjusted EBITDA R$124 million. We had a sale, a small sale, approximately 900 hectares. A sale in Rio do Meio, sold for R$62.4 million, showing once again, reminding you, this asset came from the purchase we made. We sold part of this land previously. And once again, we have a good result selling another part.