Q3 2024 Fertilizantes Heringer SA Earnings Call Transcript
Key Points
- Fertilizantes Heringer SA (BSP:FHER3) delivered 696,000 tons directly to growers in Q3 2024, with a significant focus on coffee crops, which accounted for 42% of total deliveries.
- The company has focused on profitability and credit risk aversion, which has led to a strategic reduction in volume for certain crops.
- Gross result for Q3 2024 was BRL103 million, an improvement from BRL101 million year-on-year.
- The company recorded a positive cash flow with cash and cash equivalents of BRL363 million for the year-to-date nine months of 2024.
- Fertilizantes Heringer SA (BSP:FHER3) has diversified its premium product portfolio, focusing on high-margin crops like coffee, which is the most profitable crop for the company.
- There was an 11.2% reduction in total deliveries compared to the same period last year, primarily affecting fruits and vegetables.
- Net revenue for Q3 2024 decreased to BRL1.5 billion from BRL1.6 billion in the same period of 2023.
- The company reported a net loss of BRL9 million in Q3 2024, compared to a loss of BRL62 million in Q3 2023.
- Interest expenses increased, with BRL49 million negative compared to BRL33 million negative in 2023.
- The company faced challenges with exchange rate variations, resulting in a negative variation of BRL233 million for the nine months of 2024.
Good morning and thank you for waiting.
Welcome to Fertilizantes Heringer SA conference call to discuss third quarter, 2024 earnings results. With us today are Mr. Fausto Pereira, Conveyor Controller, Navista Tore, she is Market intelligence coordinator of the company.
We would like to inform you that this event is being recorded and that all participants will be in listen-only mode during the company's presentation. We will then begin the Q&A session for analysts and investors only. When further instructions to participate will be provided before proceeding, let me mention that any forward-looking statements that might be made during this conference call regarding the company's business prospects, projections and operating and financial goals are based on the beliefs and assumptions of the company's management as well as on information currently available. Forward-looking statements 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 occur.
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