Bioceres Crop Solutions Corp. · NASDAQ:BIOX
Bioceres Crop Solutions — Q2 FY2022 Earnings Presentation
19 slides from Bioceres Crop Solutions's earnings presentation, Apr 4, 2022
Slide 1: Second Quarter Fiscal Year 2022 Financial and Operating Results
Second Quarter Fiscal Year 2022 Financial and Operating Results
Slide 2: Disclaimer
Disclaimer This Presentation is for informational purposes only and does not constitute an offer or invitation to sell, a solicitation of an offer Financial Information Presentation to buy, or a recommendation to purchase any equity, assets, business, debt or other financial instruments of the Compa
Slide 3: Key Business & Financial Highlights
Key Business & Financial Highlights Comparable Revenues increased by 89%, reaching $90.3 million. Combined revenue growth in Europe and North America at 146%, approaching 10% of total sales LTM Baseline Business adjusted EBITDA reached $61.8M, up 46% compared to the year-ago metric $20.0 million fin
Slide 4: HB4 Wheat Results 21/22 Season
HB4 Wheat Results 21/22 Season +49% HB4 yield improvement in targeted environments 21/22 Season Key Takeaways ~53K Total Harvested +12.8% Yield increase across all Current materials showed sanitary profile improvement vs commercial varieties. Prevalence of yellow rust in HB4 varieties 70 times lower
Slide 5: HB4 Wheat Season Results By Region
HB4 Wheat Season Results By Region Yield improvements range from +5.7% to 39.6% across all environments Satisfaction HB4 Yield Rate1 Improvement +61% +5.7% +85% +18.6% Córdoba Center-North Santa Fe Center-North, 36 Sites – 4.3k ha Sgo. del Estero and Chaco 41 Sites – 13.4k ha +100% +11.8% +81% +39.6
Slide 6: HB4 Wheat Portfolio Performance
HB4 Wheat Portfolio Performance Next gen varieties outperformed 1st gen by +16% in high yielding environments Next gen varieties performance at +4,000 kg/ha Portfolio replacement expectations for upcoming environments (high yielding) 1 seasons % +8% Average of top performance commercial Average germ
Slide 7: HB4 LatAm Wheat Opportunity
HB4 LatAm Wheat Opportunity Argentina Total Addressable Market • Regulatory approvals granted 6.5M ha • Seed ramp-up on track FY24 Targets 2.3M ha / $195M Current Available Market • Robust variety portfolio $15-20M EBITDA Brazil Regulatory presentations in place to target Total Addressable Market ad
Slide 8: HB4 Soy Update
HB4 Soy Update Portfolio replacement rate affected by severe drought conditions in December ● Existing inventories off-loaded as grain, representing a working capital recovery 1st Gen Varieties Fully-discontinued ● ESG attributes not monetized at this stage1 2nd Gen Varieties ● 6.8k ha planted as ea
Slide 9: New Global Head of Seeds Business
New Global Head of Seeds Business Alexandre Garcia • Alexandre Garcia joined Bioceres´ management team in December 2021 as the Global Head of Seeds Business, to focus on accessing and developing top performing genetics for the HB4 trait and new technologies. • In his former position as Innovation an
Slide 10: Revenue Growth
Revenue Growth 2Q22 total comparable revenues +89%, resulting in an accumulated growth of +72% year to date 2Q22 LTM Comparable Revenues +56% YoY $ Million 262.6 As Reported 167.9 Comparable 92.7 90.3 Seasonality Low High 64.8 48.7 47.7 42.2 1Q 2Q 2QLTM 1Q 2Q 2QLTM FY21 FY22 10
Slide 11: Baseline Business Profitability
Baseline Business Profitability LTM Adjusted EBITDA for the Baseline Business reached $61.8 million $ Million 46% 15% Breakdown of HB4 Program 61.8 pre-launch expenses $ Million LTM 53.6 2Q22 48% 6.2 3.4 General expenses 1.4 42.4 Inventory ramp-up and 2.9 data acquisition costs 0.2 37.0 IAS 29 1.9 4
Slide 12: Comparable Revenue Bridge & Gross Margins by Segment
Comparable Revenue Bridge & Gross Margins by Segment Comparable Revenues +89% YoY Micro-beaded fertilizer installed capacity 100 92.7 utilization rate for the last twelve months 19.3 90.3 90 reached 61%, up from 48% last quarter 80 Crop Nutrition and Seed and Integrated 3.1 Products business segment
Slide 13: Comparable Gross Profit Contribution per Segment
Comparable Gross Profit Contribution per Segment Gross Profit +69% YoY 45 10.7 42.2 40 37.3 Crop Nutrition segment 35 contributed two thirds of the 2.6 total growth in Gross Profit 30 3.9 > 25.0 23.7 $ Million > 25 +233% +32% > 20 As Reported +31% 15 10 Comparable 5 0 2Q21 Crop Seed and Crop 2Q22 Pr
Slide 14: Baseline Business Adjusted EBITDA & Margin
Baseline Business Adjusted EBITDA & Margin Baseline Business Adj. EBITDA +57% YoY 35 17.2 (3.5) 30 (7.3) 25 1.1 0.9 22.7 $ Million 20 3.0 (1.3) (1.6) 14.5 19.7 19.7 15 0.2 HB4 Program 14.3 pre-launch expenses 10 5 Adj. EBITDA 0 Baseline Comparable IAS 29 Operating JV’s Other Income Baseline Business
Slide 15: Financial Debt and Cash Position
Financial Debt and Cash Position Net Debt 3.05x 2.89x 2.61x 2.74x 2.66x LTM Adj. EBITDA Current Debt 139.6 97.9 112.8 147.9 96.7 $ Million 75.1 137.6 134.2 Non-Current Debt 128.6 126.2 Cash & Equivalents 89.5 85.4 76.8 49.2 47.2 66.7 36.1 41.9 48.1 39.9 LTM Financial Expenses 12.7 12.7 14.6 13.5 13.
Slide 16: Exhibits
“@ Bioceres Crop Solutions
Slide 17: Unaudited Consolidated Statement of Comprehensive Income
Unaudited Consolidated Statement Three-month period Three-month period Six-month period Six-month period of Comprehensive Income ended 12/31/2021 ended 12/31/2020 ended 12/31/2021 ended 12/31/2020 Total revenue 92,662,853 48,738,690 159,679,098 91,093,951 Cost of sales (55,332,989) (25,073,842) (93,
Slide 18: Unaudited Consolidated Statement of Financial Position
Unaudited Consolidated Statement of Financial Position ASSETS 12/31/2021 06/30/2021 LIABILITIES 12/31/2021 06/30/2021 CURRENT ASSETS CURRENT LIABILITIES Cash and cash equivalents 36,187,804 36,046,113 Trade and other payables 107,583,347 72,091,408 Other financial assets 3,696,803 11,161,398 Borrowi
Slide 19: Contact Us
Contact Us Investor Relations [email protected] (54) 0341 4861100 Investors.biocerescrops.com
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