SÃO PAULO, Brazil, May 24, 2024 (GLOBE NEWSWIRE) -- Lavoro Limited (Nasdaq: LVRO; LVROW), the first U.S.-listed agricultural inputs retailer in Latin America, will issue its financial results for the fiscal third quarter 2024 after market close on Monday, June 3, 2024. Lavoro management will host a conference call and audio webcast that afternoon at 6:00 p.m. ET (7:00 p.m. BRT) to discuss the results. Conference Call Details Title: Lavoro Fiscal Third Quarter 2024 Earnings Conference Call Event Date: Monday ...

SÃO PAULO, Brazil, May 24, 2024 (GLOBE NEWSWIRE) -- Lavoro Limited (Nasdaq: LVRO; LVROW), the first U.S.-listed agricultural inputs retailer in Latin America, will issue its financial results for the fiscal third quarter 2024 after market close on Monday, June 3, 2024. Lavoro management will host a conference call and audio webcast that afternoon at 6:00 p.m. ET (7:00 p.m. BRT) to discuss the results. Conference Call Details Title: Lavoro Fiscal Third Quarter 2024 Earnings Conference Call Event Date: Monday ...

SÃO PAULO, Brazil, May 10, 2024 (GLOBE NEWSWIRE) -- Lavoro (NASDAQ:LVRO), the first U.S.-listed pure-play agricultural inputs distributor in Latin America, will participate in the BMO Global Farm to Market Conference in New York, NY, on May 15-16, 2024. Ruy Cunha, Chief Executive Officer, will participate on a panel titled "AgTech Disruption Across the Farming Value Chain", on Wednesday, May 15, 2024 at 2:00 pm ET. Mr. Cunha will also host a presentation on Thursday, May 16, 2024 at 8:45 am ET. Management w ...

Tigran Karapetian - Head of Investor Relations Ruy Cunha - Chief Executive Officer Julian Garrido - Chief Financial Officer Gustavo Modenesi - Chief Strategy Officer Welcome to Lavoro's Fiscal Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] A question-and-answer session will follow the formal presentation. Please note that this conference call is being recorded and a replay will be made available on the Company's Investor Relati ...

Financial Data and Key Metrics Changes - Consolidated revenue increased by 11% year-over-year to $483 million, with a 3% increase in constant currency terms [8][20] - Adjusted EBITDA declined by 75% to $11 million, leading to a contraction in adjusted EBITDA margin to 2.3% [20][26] - Gross profit decreased by 34% to $59.5 million, with gross margin contracting by 850 basis points to 12.3% [45] Business Line Data and Key Metrics Changes - Inputs revenue grew by 5%, driven by volume growth that offset price declines [8] - Grains revenue surged by 109%, attributed to increased customer interest in barter transactions [8] - Brazil retail revenue rose by 15%, with crop protection, fertilizers, and specialty products increasing by 54%, 53%, and 33% respectively [24] Market Data and Key Metrics Changes - Latam retail revenue decreased by 1% to $66.3 million, impacted by pricing headwinds and supply shortages [9] - Crop care revenue fell by 1% to $35.7 million, primarily due to price declines in agrochemicals [25] - The impact of El Nino has led to severe drought conditions in Brazil, affecting planting and crop yields [5][47] Company Strategy and Development Direction - The company is focusing on mitigating short-term impacts while positioning itself for market recovery, aiming to capitalize on expected improvements in the agricultural sector [28] - Lavoro is expanding its market share by hiring experienced sales consultants and enhancing logistics to meet last-minute orders [30][49] - The company is adjusting its financial guidance to reflect the impact of El Nino and slower recovery in distribution margins, forecasting adjusted EBITDA between $80 million and $110 million [22] Management's Comments on Operating Environment and Future Outlook - Management noted that the current environment is the most challenging since 2014, with significant deflationary pressures affecting profitability [20][50] - The company expects a slower recovery compared to previous cycles due to high inventory levels and the impact of climate events [50][52] - Despite challenges, management believes that Brazilian farmers are in a strong position and will see recovery in margins next year [52] Other Important Information - The company faced delays in farmers' purchasing decisions, pushing revenue opportunities into future quarters [10] - The provision for expected credit losses increased due to the impact of El Nino on payment schedules [11] - The company is experiencing a significant destocking process, particularly in crop protection products [59] Q&A Session Summary Question: How does the current market position compare to other players? - Management highlighted that their strong logistics and ability to fulfill last-minute orders have contributed to market share gains despite a tough environment [30] Question: What are the expectations regarding the impact of El Nino? - Management indicated that the current El Nino is severe, with significant replanting of soybeans, and the market dynamics are challenging to predict [82] Question: How is the company addressing the destocking issue? - The focus is on normalizing inventory levels, particularly in crop protection, with expectations of improvement over the coming months [66][59]

¹Market revenue seasonality in each quarter was estimated according to the last 3 years of data from Spark, LVRO, AGXY and TTEN. *North Cluster: MT, RO and TO | East Cluster: MG, SP, GO and MS | South Cluster: PR, RS and SC FY1Q24 Earnings Presentation Disclaimer Certain statements made in this presentation are "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forwardlooking statements may be identified by t ...

Financial Data and Key Metrics Changes - For fiscal year 2023, the company reported revenue of $1.8 billion and adjusted EBITDA of $150 million, representing increases of 24% and 64% respectively [44] - Consolidated revenue for Q4 2023 rose by 16.6% to $266 million, driven by a 31.9% year-over-year growth in the Brazil Ag Retail segment [27][22] - Adjusted EBITDA improved to a positive $2.4 million compared to a negative $16.3 million in the prior year, with an adjusted EBITDA margin increase of over 800 basis points year-over-year [55] Business Line Data and Key Metrics Changes - The Crop Care segment accounted for nearly 19% of adjusted EBITDA in fiscal year 2023, up from 8% the previous year, with revenues and gross profit expanding by 94% and 138% respectively [21][45] - The Brazil Ag Retail segment saw improved sales volumes of fertilizers, crop protection, and specialty products, which more than offset price declines [27] - Gross profit for the quarter increased by 26.7% to $46.9 million, with gross margin widening by 140 basis points to 17.7% [52] Market Data and Key Metrics Changes - The company anticipates a nearly 20% decline in the ag input market in Brazil for the 2023/2024 crop year, reflecting ongoing pricing pressures [33][47] - The Colombian operations experienced a 3% decline compared to the prior year, driven by the devaluation of the Colombian peso, although local currency growth was 10% [51] - Price volatility in commodities like soybean and corn, along with declining fertilizer and agrochemical prices, posed challenges to operations in Brazil [46] Company Strategy and Development Direction - The company is focused on enhancing agronomic and financial services offerings, including a partnership with Stenon for soil testing technology [5][60] - The M&A strategy remains active, with seven signed MOUs and ongoing discussions with various companies, emphasizing a disciplined approach to acquisitions [59] - The company aims to leverage its scale and technology investments to improve market share and financial performance as market conditions normalize [62] Management's Comments on Operating Environment and Future Outlook - Management noted that farmers remain profitable, which is a key indicator for future input purchases, despite current market challenges [9][66] - The company expects the first half of fiscal year 2024 to experience pricing headwinds, with normalization anticipated in the second half [66] - Management expressed confidence in long-term growth fundamentals, despite short-term adjustments due to market conditions [76] Other Important Information - The company is expanding its crop insurance offerings through partnerships with Brasilseg and BTG to provide tailored insurance against weather events [61] - The company has seen positive feedback from clients regarding its new services and anticipates strong demand for its Crop Care products [60] Q&A Session Summary Question: Confidence in the second half and purchasing metrics - Management indicated that farmers are delaying purchases but are expected to make necessary purchases, suggesting a temporary delay rather than a loss of business [39][66] Question: Pricing assumptions for the fiscal year - Management confirmed that pricing pressures are expected to persist in the first two quarters, with normalization anticipated in the latter half of the fiscal year [66] Question: Growth potential for Crop Care - Management believes there is significant potential for Crop Care to increase its market share and shelf space, particularly in the biologics segment [82]

Gross Profit decreased by 15% in 3Q23 due to the revenue reduction and margin decrease (Crop Care's sales phasing + lower margins from herbicides). On a YTD basis, 1.3 p.p. margin expansion Adjusted Profit was impacted by higher financing expenses, as a result of the M&A activities, and market interest rates increase 9M23 vs. 9M22 Revenue by Segment Note: (1) For illustrative purposes only, Lavoro has translated its amounts in reais to U.S. dollars. The average exchange rate for the third quarter of 2023 (J ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________ FORM 20-F (Mark One) o REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 o SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report: Commission File Number: 001-41635 Lavoro Limited OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 F ...

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