Bioceres Crop Solutions Corp. · NASDAQ:BIOX
Bioceres Crop Solutions — Q3 FY2022 Earnings Presentation
19 slides from Bioceres Crop Solutions's earnings presentation, May 2022
Slide 1: Third Quarter Fiscal Year 2022 Financial and Operating Results
Third 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 China´s Ministry of Agriculture has granted food & feed approval for HB4® Soy, a key regulatory milestone. FY25 incremental EBITDA from HB4 Soy estimated at $20-25M Food Standards Australia New Zealand recommended food & feed approval of HB4 Wheat Trigall Genetics
Slide 4: HB4 Soy Opportunity
HB4 Soy Opportunity China food & feed regulatory approval enables: Unrestricted commercialization in Argentina Launch planning for third-party licensees in key geographies % of TAM penetration by FY2025 10M ha 15% Argentina Total Addressable Market 800k ha 700k ha FY25 Targets 12.5M ha 4% $20-25M Br
Slide 5: HB4 Soy Portfolio Evolution
HB4 Soy Portfolio Evolution Scaled-up and commercially launched varieties by FY25 KEY FY23 FY24 FY25 Main Pipeline Considerations GEOGRAPHY BIOX 4 6 4 + 2* Third-parties 3 6 ARG Variety is considered launched at +10k ha Total 4 9 12 BIOX 1 2 Third-parties 2 4 BRA Expected average variety coverage of
Slide 6: HB4 Program: Soybean Update
HB4 Program: Soybean Update Estimated Regulatory Approvals Argentina US Today Brazil HB4 Soy harvest China Canada 52% 23K Indonesia Colombia Australia FY23 New Zealand South Africa India ~12.0K Hectares harvested ~25K Tons harvested Russia Philippines of hectares yielding seed quality Vietnam 70-75%
Slide 7: Increase Global Momentum for HB4 Wheat
Increase Global Momentum for HB4 Wheat Efforts beyond Latin America Ukraine-Russia conflict results in significant disruption of the global wheat value chain Additional food & feed clearances obtained in Colombia, Australia1 and New Zealand1 Trigall Genetics reached a preliminary agreement for a maj
Slide 8: Australia
Australia Next in line in HB4 Wheat agenda Wheat is positioned as the Intense drought scenarios largest grain crop in forced key wheat regions Combined efforts in Australia enable Trigall Genetics to: Australia, with almost 13M (NSW and QLD) to import hectares planted each grain, rather than be key
Slide 9: HB4 Program: Wheat Update
HB4 Program: Wheat Update Estimated Regulatory Approvals 2022/23 Season Argentina +120K +18K > $4.1M ~$10-12M Brazil2 Total Inventory Processed so far Working capital Estimated Today Colombia2 (tons) (tons) recovery revenues1 Australia2,4 New Zealand2,4 Stakeholder-conducted consumer polls indicated
Slide 10: MBI Merger Transaction Update
MBI Merger Transaction Update Key events expected timeline SEC review and MBI Shareholder approval of F-4 Meeting Deal Closing 6 – 8 weeks 4 – 5 weeks March 17th, 2022 6-k Filing Transaction May 9th, 2022 Announcement F-4 Filing 4Q FY22 1Q FY23 APR JUN JUL SEPT “The estimated timeline of key events
Slide 11: Revenue Growth
Revenue Growth 3Q22 YTD total comparable revenues +72% 63% 287.5 $ Million 72% 215.2 As Reported 176.9 Comparable 125.0 72% 60.1 69.5 35.0 36.2 3Q 3Q 3Q YTD 3Q YTD 3Q LTM 3Q LTM FY21 FY22 FY21 FY22 FY21 FY22 11
Slide 12: Comparable Revenue Bridge & Gross Margins by Segment
Comparable Revenue Bridge & Gross Margins by Segment Comparable Revenues +72% YoY IAS 29 adjustments in 3Q22 significantly higher than the year- ago period, generating a $9.4 million IAS29-related gap between reported $ Million and comparable revenues, compared 69.5 to a $1.2 million in 3Q21. 5.7 60
Slide 13: Comparable Gross Profit Contribution per Segment
Comparable Gross Profit Contribution per Segment Comprable Gross Profit +59% YoY Application of IAS29 detrimental to reported gross profit, generating a $1.7 million gap with the comparable metric. $ Million Reported Gross Margin decrease explained by IAS29 expanding reported revenues by $9.4M while
Slide 14: Adjusted EBITDA
Adjusted EBITDA Non-recurring effects and phasing impacting low season quarter OPEX main variations IAS 29 and nominal inflation 2.3 $ Million Freight expenses 1.6 1.7 Operational growth 2.9 8.3 (7.7) Adj. EBITDA 2.3 (1.1) 8.8 7.4 7.1 6.9 (1.6) 0.5 4.1 2.3 IAS 29 and nominal 6.9 6.9 inflation adjust
Slide 15: Financial Debt and Cash Position
Financial Debt and Cash Position Net Debt LTM Adj. EBITDA 2.89x 3.06x 2.38x 2019 Convertible Note > $ Million Current Debt 75% of the outstanding principal Pro forma4 balance of $49.1M due March 2023, 91.1 Non-Current Debt converted into 4,617,281 ordinary 97.9 91.1 Pro forma4 shares of BIOX, on Apr
Slide 16: Exhibits
“@ Bioceres Crop Solutions
Slide 17: Unaudited Consolidated Statement of Comprehensive Income
Unaudited Consolidated Statement Three-month period Three-month period Nine-month period Nine-month period of Comprehensive Income ended 03/31/2022 ended 03/31/2021 ended 03/31/2022 ended 03/31/2021 Total revenue 69,482,518 36,221,113 229,051,616 127,315,064 Cost of sales (45,823,445) (20,901,909) (
Slide 18: Unaudited Consolidated Statement of Financial Position
Unaudited Consolidated Statement of Financial Position ASSETS 03/31/2022 06/30/2021 LIABILITIES 03/31/2022 06/30/2021 CURRENT ASSETS CURRENT LIABILITIES Cash and cash equivalents 39,041,287 36,046,113 Trade and other payables 123,224,013 72,091,408 Borrowings 76,364,127 76,785,857 Other financial as
Slide 19: Contact Us
Contact Us Investor Relations [email protected] (54) 0341 4861100 Investors.biocerescrops.com
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