Agribrasil releases its 2020 results
Agribrasil releases its 2020 results
We announce the 2020 results.
Financial highlights:
Net revenues. Recorde de R$ 1.368,2 milhões (+R$ 981,7 milhões vs. 2019).
Adjusted EBITDA. Record high of R$45.6 million (+439.6% vs. 2019), compared to R$8.4 million.
Adjusted EBITDA margin. Registered 3.3% (+1.1 p.p. vs. 2019), compared to 2.2%.
Net income. Record high of R$25.6 million (+1,120.1% vs. 2019), compared to R$2.1 million.
Tons sold:
Record high of 1,146,805 tons (+119.5% vs. 2019), compared to 522,378 tons.
- Tons of corn sold. Record high of 818,661 tons (+68,8% vs. 2019), compared to 485,115 tons in the prior year, an increase of 333,546 tons.
- Tons of soybean sold. Record high of 328,145 tons (+780.6% vs. 2019), compared to 37,263 tons in the previous year, an increase of 290,881 tons.
Message from the CEO
The year 2020 demanded extraordinary resilience from Agribrasil. In addition to the pandemic, which mobilized all industries against the then-unknown Covid-19, the Company had to quickly adjust to new commercial demands. We operate in a complex scenario since the Company operates at all stages of the soybean and corn export chain.
A new company doing business in a field dominated by large multinationals, with only four years of existence and 100% Brazilian, Agribrasil relied on the vast experience of its management and on a highly integrated team to face this new scenario. With the decline of world economic activity and the international need to maintain food supply and safety stocks, there was an increase in demand for grains for consumption and animal feed. This context, combined with our currency devaluation and a record harvest in 2020, favored the Brazilian exportation of grains, allowing us to achieve a performance above the projections.
Contracts with customers across all continents allowed us to triple our income compared to the previous year, an achievement that would not be possible without the perfect synergy between our sales team and our logistics intelligence, which have made exceptional progress. Our freight loaded approximately 21,000 trucks, 3,000 wagons, 200 barges, and 45 ships. All this without losing sight of the health of our team.
The pandemic forced us to adopt new procedures. We have followed all health protocols recommended by the government and by the World Health Organization, by implementing social distancing and remote work.
Committed to improvements in governance practices, we changed our legal nature from limited company to corporation in May, established a Board of Directors with two independent members, maintained and strengthened the independent audit process of the annual Financial Statements, and added quarterly reviews, and we have prepared for our listing on B3.
Regarding sustainability, in 2020, we established a freight matrix that prioritizes waterways and railways to transport grains, making our carbon footprint significantly smaller. In addition, we have kept our social and environmental commitments, implemented new procurement and farm monitoring systems, and strengthened our relationship with soybean and corn suppliers. All that ensures security to our operations and makes the business more sustainable in the long run.
The recognition of our work for stakeholders is also worth mentioning. Among the agribusiness companies, we took 2nd place in the category “Foreign Trade” and 1st in the category “Equity Profitability” in the 16th edition of the yearbook “Melhores do Agronegócio” (best in agribusiness) of Globo Rural Magazine and, among the 1,000 largest companies in Brazil, we are the 3rd best agribusiness company in the category Corporate Governance, according to the yearbook “Melhores da Dinheiro 2020” of Istoé Dinheiro magazine.
We believe that this decade will be marked by a large increase in the production of soybean and by an even larger increase in the production of corn. To keep up with this growth, we intend to expand our partnership with logistics suppliers and make potential investments in port terminals to ensure the best service to our customers. We know that the market is highly competitive, but we are prepared for the challenges.
Access:
2020 Results Presentation (Portuguese only)