So we had to sell with tight margins, especially in the case of corn. That's why we looked at our strategy, and we're changing our mix -- product mix for '23, '24 planting less corn. So we're mitigating -- we're trying to mitigate these operational losses, and we're decreasing the planted areas of corns by 1,000 hectares. Also during this whole period, we delivered million tons of sugarcane, very good harvest. When we look at our indicators, the productivity is much better than last year. This confirms that ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission f ...

September/2023 Gustavo Lopez CFO & IRO | --- | --- | |----------------------------------------------|------------------------------------------------------------------------------| | | | | Financial | Operational | | R$1.4 billion of net revenue R$268.5 million | 2.3 million tons of production in the 22/23 harvest. | | net income | Real Estate | | R$533.7 million Adjusted EBITDA | We sold over 9 thousand arable hectares in areas totaling R$610 million. | Morotí Farm Nov/2022 IRR 27,9% Area: Jatobá Farm Jun/ ...