Cosan S.A. (NYSE:CSAN) Q2 2024 Earnings Conference Call August 15, 2024 10:00 AM ET

Company Participants

Rodrigo Araujo - CFO
Ana Luisa Perina - Head, IR

Conference Call Participants

Luiz Carvalho - UBS
Gabriel Barra - Citi
Monique Greco - Itau BBA
Bruno Montanari - Morgan Stanley
Bruno Amorim - Goldman Sachs
Lucas Ferreira - JPMorgan
Pedro Soares - BTG Pactual
Gustavo Sadka - Bradesco

Operator

Good morning, everyone. Thank you for waiting, and welcome to Cosan's Second Quarter 2024 Earnings Release Video Conference Call. [Operator Instructions]

Please note that the information contained in this presentation and in statements that may be made during the conference call regarding Cosan's business prospects, projections and operating and financial goals constitute the beliefs and assumptions of the company's management as well as information currently available. Forward-looking considerations are not a guarantee of performance. They involve risks, uncertainties and assumptions as they refer to future events and therefore, depend on circumstances that may or may not materialize. Investors should bear in mind that overall economic conditions, market conditions and other operating factors may affect Cosan's future performance and lead to results that differ materially from those expressed in such forward-looking statements.

I will now turn it over to Mr. Rodrigo Araujo.

Rodrigo Araujo

Hi, everyone. Welcome to our earnings call for the second quarter of 2024. So starting here with our priorities, management priorities. Just I'd like to reinforce what we've been discussing over the last couple of quarters. We're mainly focused on having a lot of capital discipline, especially given the leverage at the holdco level and much more challenging interest rate scenarios with higher interest rates for a longer time.

So we're focused on executing the projects of the portfolio on delivering what we set up in the business plans. And of course, always focused on managing our talents in the group and providing the highest safety standards. With capital discipline, of course, we're able to support the contracted growth of the portfolio by making sure that we continue to invest in the structural projects of the different businesses.

So moving on to the next slide. We have our EBITDA under management moving from BRL 6.2 billion last year to BRL 7.1 billion in 2024. We had a negative net result of around BRL 200 million in this quarter. And looking at our safety record in this quarter, we had 0.24 LTIF, which is quite close to what we had in the first quarter of 2024. And of course, we're always looking for better results in terms of operational efficiency and safety, but this result shows the track record of evolving safety standards within the group.