SLC Agrícola released its financial results for the second quarter of 2024. The company highlighted significant growth in the potential planted area for the 2024/25 harvest, reaching almost 60 thousand arable hectares. According to the company, there were advances in the purchase of inputs and the fixing of commodity prices.
Net revenue in the second quarter was R$1,35 billion, representing a drop of 6,4% compared to the same period in 2023. The reduction is mainly due to lower soybean productivity in the 2023/24 harvest. However, there was a 73,2% increase in the volume of cotton invoiced, with a 4,2% increase in unit prices. Adjusted EBITDA was R$258 million, with a margin of 19,1%. Net Profit for the period was R$321 million, a reduction of 7,8% compared to the previous year, impacted by the drop in soybean productivity and prices.
The CEO of SLC Agrícola, Aurélio Pavinato (in the photo), commented on the challenges faced: "despite the adverse weather conditions, we harvested all the soybeans, reaching 3.276 kg/ha, 2,3% above the national average. We advanced in our growth strategy, with partnerships and leases that will expand our potential planted area to more than 59.238 hectares in the 2024/25 harvest. We reiterate our commitment to high productivity and efficiency in production units."
In July, SLC Agrícola entered into a partnership with Agropecuária Rica S/A, from the RZK Group, creating the Fazenda Preciosa Joint Venture. The unit has 11.282,25 arable hectares, reaching 21.837 hectares considering second crop production. The farm will begin operating in the 2024/25 harvest, initially producing soybeans and off-season corn, with the expectation of including cotton.
In August, the company signed a lease agreement for 14.572,26 arable hectares in the state of Piauí. This area will be attached to the Parnaguá farm, with operations scheduled for the 2024/25 harvest.
In the second quarter, consultancy Delloitte evaluated SLC Agrícola's land, showing an appreciation of 6% in the adjusted portfolio, now valued at R$11,6 billion, compared to the previous R$10,9 billion. The average value of the company's arable hectare is R$57,5.
In July, SLC Agrícola carried out the fourth issue of Agribusiness Receivables Certificates (CRA), raising just over R$1,09 billion in three series with maturities of up to 7 years. The main objective was to lengthen the company's debt profile with attractive costs.
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