ADECOAGRO DISCLAIMER ...

Financial Data and Key Metrics Changes - Gross sales reached $400 million in Q4 2023, a 5% increase year-over-year, while adjusted EBITDA was $96 million, down 9% compared to the same period last year [9] - For the full year, gross sales totaled $1.4 billion, a 7% increase, and adjusted EBITDA was $477 million, a 10% increase, both representing all-time records for the company [9][10] - Net cash from operations for 2023 was $176 million, a 24% increase year-over-year, driven by strong operational performance [10][25] - Net debt decreased by 26% year-over-year to $503 million, reflecting a significant reduction in gross debt [26] Business Line Data and Key Metrics Changes - The sugar, ethanol, and energy business saw a 19% increase in crushing volumes year-over-year, reaching 12.5 million tons, with sugar production hitting a record of 806,000 tons [11][13] - The farming division reported a 29% year-over-year reduction in total production due to adverse weather conditions [12] - Adjusted EBITDA for the farming business was $14 million in Q4, a 34% increase year-over-year, and $103 million for the full year, a 25% increase [21] Market Data and Key Metrics Changes - In Brazil, the Angelica mill received CORSIA certification, allowing ethanol to be used for Sustainable Aviation Fuel production, opening new market opportunities [6] - The average selling price of sugar increased by 24% year-over-year, while ethanol sales were reduced to build stocks in anticipation of higher prices [14][15] Company Strategy and Development Direction - The company aims to achieve its 2030 decarbonization targets by investing in sustainable production models and new technologies [5] - The focus remains on maximizing sugar production due to favorable pricing, while also preparing for potential increases in ethanol prices [19][20] - Expansion projects include increasing sugarcane plantations and biomethane production to replace diesel consumption [27][40] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2024, anticipating a recovery in crop production due to normal weather conditions in Argentina and Uruguay [7][21] - The company is well-positioned to benefit from strong fundamentals in sugar prices, with 53% of expected 2024 sugar production unhedged [19][20] - The potential return of La Niña is viewed as a mixed opportunity, with some segments potentially benefiting from higher prices due to reduced production in the region [44] Other Important Information - The company plans to distribute at least $70 million in 2024, a new record, based on its distribution policy [5][25] - The company has already repurchased $18 million in shares, representing approximately 1.7% of its stake [26] Q&A Session Summary Question: Outlook for sugar and ethanol crushing volumes and export market - Management expects to crush approximately 5% more sugarcane than last year, maintaining a production mix favoring sugar due to higher prices [33] Question: Cost outlook for the upcoming season - Costs are expected to remain flat year-over-year, with some components increasing while others decrease, leading to a potential reduction in unit costs [39] Question: Impact of La Niña on operations - La Niña is anticipated to have a neutral to positive impact on sugar and ethanol production, while crop production may face challenges [44] Question: Plans for SAF certification across other mills - The company plans to certify all mills for SAF production, aligning with new regulations and market opportunities [45]

LUXEMBOURG, March 14, 2024 /PRNewswire/ -- Adecoagro S.A. (NYSE: AGRO, Bloomberg: AGRO US, Reuters: AGRO.K), a leading sustainable production company in South America, announced today its results for the fourth quarter ended December 31, 2023. The financial information contained in this press release is based on consolidated financial statements presented in US dollars and prepared in accordance with International Financial Reporting Standards (IFRS) except for Non - IFRS measures. Please refer to page 27 f ...

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:BP (BP) is a provider of carbon products and services. The Zacks Consensus Estimate for its current year earnings has been revised 11.5% downward over the last 60 days.ChampionX (CHX) is a provider of chemistry solutions, engineered equipment and technologies to companies drill for and produce oil and gas. The Zacks Consensus Estimate for its current year earnings has been revised almost 6.7% downward over the last 60 days.Adecoagro ( ...

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:Adecoagro S.A. (AGRO) is an agro-industrial company. The Zacks Consensus Estimate for its current year earnings has been revised 3% downward over the last 60 days.Boot Barn Holdings, Inc. (BOOT) is a lifestyle retail chain. The Zacks Consensus Estimate for its current year earnings has been revised 4.5% downward over the last 60 days.Cactus, Inc. (WHD) is a company that sells and rents wellheads and pressure control equipments. The Za ...

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:Adecoagro S.A. (AGRO) is an agro-industrial company. The Zacks Consensus Estimate for its current year earnings has been revised 5.9% downward over the last 60 days.Arrow Financial Corporation (AROW) is a bank holding company. The Zacks Consensus Estimate for its current year earnings has been revised 10.4% downward over the last 60 days.Avnet, Inc. (AVT) is an electronic component distributor company. The Zacks Consensus Estimate for ...

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use a variety of methods, including tried-an ...

santosha/E+ via Getty Images Thesis I rate Adecoagro S.A. (NYSE:AGRO) a Hold with an end-of-year price target of $14.41, which represents a potential 30% upside to its current price of ~$10.80/share. Using an EV/EBIT multiple of 10x and estimating the EBIT across AGRO's three largest segments, Sugar & Ethanol, Rice, and Dairy, my model suggests AGRO's share price to be worth upwards of $14.41 by the end of 2024, contingent on sugar prices around or above 20 cents/lb. Compared to years prior, Adecoagro has d ...

Adecoagro S.A. (NYSE:AGRO) Q3 2023 Earnings Conference Call November 14, 2023 10:00 AM ET Company Participants Mariano Bosch - CEO Emilio Gnecco - CFO Renato Junqueira Pereira - Sugar, Ethanol and Energy VP Vitoria Cabello - IR Officer Conference Call Participants Thiago Duarte - BTG Pactual Larissa Pérez - Itaú BBA Operator Good morning, ladies and gentlemen and thank you for waiting. At this time, we would like to welcome everyone to Adecoagro's Third Quarter 2023 Results Conference Call. Today with us, w ...

[Form 6-K Filing Information](index=1&type=section&id=Form%206-K%20Filing%20Information) This report details the Form 6-K filing by Adecoagro S.A. for the month of April 2023 - This document is a Form 6-K report filed by Adecoagro S.A. for the month of April 2023[1](index=1&type=chunk) Filing Details | Field | Value | | :--- | :--- | | Registrant | Adecoagro S.A. | | Commission File Number | 001-35052 | | Filing Type | Form 20-F | | Paper Submission (Rule 101(b)(1)) | No | | Paper Submission (Rule 101(b)(7)) | No | | Furnishing Information (Rule 12g3-2(b)) | No | [Table of Contents](index=2&type=section&id=TABLE%20OF%20CONTENTS) The report's contents primarily consist of a press release regarding a cash dividend declaration - The report's table of contents lists one primary item: a press release dated April 27, 2023, announcing the declaration of cash dividends[4](index=4&type=chunk) [Signatures](index=3&type=section&id=SIGNATURES) This section provides the signature and authorization details for the report's filing - The report was duly signed on behalf of Adecoagro S.A. by its **Chief Financial Officer**[6](index=6&type=chunk)[7](index=7&type=chunk) Signatory Details | Field | Value | | :--- | :--- | | Date | April 27, 2023 | | Signatory | Emilio Federico Gnecco | | Title | Chief Financial Officer | [Adecoagro Announces Declaration of Cash Dividends](index=4&type=section&id=Adecoagro%20announces%20declaration%20of%20cash%20dividends) The company announces a cash dividend and provides an overview of its operations [Dividend Declaration Details](index=4&type=section&id=Dividend%20Declaration%20Details) The company declared a cash dividend of $17.5 million, payable in two installments with specific record and payment dates - The announced dividend is the first of two equal cash dividend installments, with the second installment payable around **November 2023**[10](index=10&type=chunk) Dividend Details | Metric | Value | | :--- | :--- | | Total Cash Dividend | $17.5 million | | Dividend Per Share | ~$0.16260252 | | Record Date | May 9, 2023 | | Payment Date (First Tranche) | May 24, 2023 | | Withholding Tax | 15% (Luxembourg) | [Company Overview](index=4&type=section&id=About%20Adecoagro) Adecoagro is a major sustainable production company in South America with extensive landholdings and diverse output - Adecoagro is a leading sustainable production company in South America[10](index=10&type=chunk) Operational Metrics | Metric | Value | | :--- | :--- | | Farmland Owned | >219.8 thousand hectares | | Operational Regions | Argentina, Brazil, Uruguay | | Agricultural Products Produced | >2.8 million tons | | Renewable Electricity Produced | >1 million MWh |