BrasilAgro - Companhia Brasileira de Propriedades Agrícolas Q3 FY2021 earnings call

• Net revenue, net profit, and adjusted EBITDA for the nine-month period were reported.
• Second issuance of CRA provided competitive interest rates and longer debt profile.
• Harvested over 170,000 tons of soybean in Brazil, Paraguay, and Bolivia; finished planting corn.
• A farm was sold last week with a 20.4% IRR, showing the impact of commodity prices on land values.
• Active acquisition agenda focused on pasture land in regions like Mato Grosso, South of Para, etc.
• Social initiatives: 1-1.5% of profit allocated to social issues, Ana Ribeiro's role at Brazilian Agri Institute.

In the nine months ended March 31st, 2021, the company had a net revenue of R$440.6 million, a net profit accumulated of R$189 million, and adjusted EBITDA of R$219 million. The company's performance is linked to commodity prices, with soybean, corn, and sugar cane prices impacting results. Revenue contribution isn't broken down by specific product segments in detail, but the focus is on agricultural commodities and land sales.

• Management has an active acquisition agenda, looking to efficiently allocate cash in pasture land acquisitions.
• Emphasis on being very active in acquisitions with frequent internal meetings, though no specific numerical guidance provided.

• Droughts could affect grains demand and supply, potentially increasing prices.
• Uncertainties in commodity price fluctuations and their impact on land values and operational results.

Q: Could droughts affect the demand and supply of grains and increase prices even more?

A: Andre mentioned Gustavo would address the impact on supply/demand numbers, and Andre discussed the effect on price trends.

Q: What is the message for individuals investing in AGRO3?

A: Andre highlighted the company's structural growth potential, focus on pasture land acquisitions, social initiatives, and investment in people, stating the company is well-positioned for medium and long-term success.

Q: How did the company begin in beans?

A: Andre explained the acquisition of Agrifirma in January 2020, which brought operational units and bean planting, with strategies like storing beans in cold storage and exporting to international markets.