Q2 2025 BrasilAgro Brazilian Agricultural Real Estate Co Earnings Call Transcript
Key Points
- Brasilagro - Cia Bras de Prop Agricolas (LND) reported a net revenue of BRL 644 million and an adjusted EBITDA of BRL 78 million for the first half of the year.
- The company experienced a 4.3% increase in sugarcane harvest, with a 3% growth in productivity, contributing positively to EBITDA.
- There was a significant recovery in ethanol demand due to changes in gasoline ethanol percentage, boosting market reaction.
- Brasilagro has diversified its crop portfolio beyond sugarcane and soy, reducing climate change risks and enhancing real estate value.
- The company has been proactive in managing costs, achieving stability in fertilizer prices and reducing replantation rates significantly.
- Soy prices dropped by about 9% from January 2024 to January 2025, impacting revenue.
- Cotton experienced major reductions due to economic factors, affecting the company's results.
- The beginning of the rain period was delayed, impacting the initial stages of crop growth.
- High interest rates have increased the cost of capital, posing challenges for leveraged operations.
- The company's stock value remains low, and there is no current buyback program authorized to address this.
Good morning, everyone. We are here for another Earnings Call of BrasilAgro to disclose our Second Quarter of our Harvest Year '25-'26, which represents the first half of the year. If you're new around here, it's important to highlight that the BrasilAgro year goes from June -- July to June, and that's why we're reporting the second quarter now. Have a great call, everyone.
And I will pass on the floor to Andre.
Thank you so much, Ana. Good morning, everyone, and good to be with you all once again. I want to bring in some important news here. We're going to talk about the harvest, the climate, commodities and also major dollar variations in this quarter, which is super important to demonstrate here. And you all know that due to accounting reasons and considering the value of our stocks and assets, these variations were very important within the quarter. But
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