BrasilAgro(LND) - 2025 Q3 - Quarterly Report

Company Information Form 6-K Filing Details BrasilAgro filed a Form 6-K report on May 7, 2025, announcing consolidated results for 3Q25 and 9M25 - BrasilAgro filed a Form 6-K report on May 7, 2025, for its consolidated results for 3Q25 and 9M25[1][3] - The consolidated information is prepared in accordance with the International Financial Reporting Standards (IFRS)[3] Highlights of the Period Key Financial Highlights BrasilAgro achieved significant financial growth in 3Q25 and 9M25, marked by substantial increases in Net Revenue and Adjusted EBITDA Key Financial Highlights (R$ thousand) | (R$ thousand) | 3Q25 | 3Q24 | Change | 9M25 | 9M24 | Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Revenues from Operations | 170,299 | 121,781 | 40% | 648,709 | 540,762 | 20% | | Net Sales Revenue | 170,299 | 121,781 | 40% | 778,010 | 545,927 | 43% | | Net Revenue | 224,934 | 132,967 | 69% | 870,504 | 553,307 | 57% | | Adj. EBITDA from Operations | (5,089) | 5,609 | n.a | 87,346 | 11,694 | n.a | | Adjusted EBITDA | (5,089) | 5,609 | n.a | 195,279 | 16,418 | n.a | | Net Income | (1,093) | (30,147) | -96% | 76,738 | (5,984) | n.a | - Net Income for 9M25 turned positive to R$76,738 thousand from a loss of R$5,984 thousand in 9M24[4] - Adjusted EBITDA Margin for 9M25 significantly increased to 22% from 3% in 9M24, a 19 percentage point improvement[4] Operational Sales Highlights Operational sales revenue grew strongly, driven by soybean and sugarcane, contributing to increased net revenue from agricultural products Net Revenue by Product (R$ thousand) | Net Revenue (R$ thousand) | 3Q25 | 3Q24 | Chg. (%) | 9M25 | 9M24 | Chg. (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Total | 170,299 | 121,781 | 40% | 648,709 | 540,762 | 20% | | Soybean | 104,405 | 86,490 | 21% | 267,789 | GOZPAL | 381% | | Sugarcane | 10,683 | (3,799) | n.a | 239,423 | 166,888 | 43% | | Feather Cotton | 37,929 | 26,294 | 44% | 69,462 | 53,391 | 30% | | Cattle Raising | 9,136 | 5,528 | 65% | 18,434 | 25,225 | -21% | Quantity Sold by Product (Ton) | Quantity Sold (Ton) | 3Q25 | 3Q24 | Chg. (%) | 9M25 | 9M24 | Chg. (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Total | 69,142 | 54,425 | 27% | 1,545,888 | 1,543,994 | n.a. | | Soybean | 60,545 | 48,047 | 26% | 138,631 | 101,738 | 31% | | Sugarcane | - | - | n.a. | 1,340,673 | 1,305,064 | 5% | | Feather Cotton | 3,917 | 2,891 | 35% | 7,281 | 6,291 | 16% | Hedge Position and Input Acquisitions Hedge Position BrasilAgro maintains hedge positions for key commodities, exchange rates, and farm sale receivables to mitigate market volatility Hedge Position - Commodity (3Q25) | Commodity | % Hedged (3Q25) | Price (3Q25) | | :--- | :--- | :--- | | Soybeans | 68% | 10.90 USD/bu | | Cotton | 44% | 77.39 c/lb | | Corn | 51% | 53.22 R$/sc | | Ethanol | 98% | 2.464 R$/m3 | | Total recoverable sugars | 98% | 1.17 R$/kg ATR | Hedge Position - Exchange (3Q25) | Item | % Hedged (3Q25) | BRL/USD (3Q25) | | :--- | :--- | :--- | | Soybeans | 40% | 5.42 | | Cotton | 27% | 2.48 | | Farm Sale Receivables | 43% | 5.48 | Status of Input Acquisitions The company completed 100% of 2024/25 harvest input acquisitions and commenced acquiring inputs for the 2025/26 harvest Input Acquisition Status (as of Apr/25) | Input | 2024/25 Harvest (Apr/25) | 2025/26 Harvest (Apr/25) | | :--- | :--- | :--- | | Nitrogenous | 100% | - | | Potassium chloride | 100% | 50% | | Phosphates | 100% | 45% | | NPK - Formulated | 100% | 10% | | Defensives | 100% | 10% | Crop Year Projections Planted Area and Production Projections 2024/25 planted area is 175,646 hectares; grain and cotton production estimates were revised down due to adverse weather, while sugarcane production is projected to grow Planted Area (ha) - 2024/25 Harvest | Crop | 23/24 Harvest (realized) | 24/25 Harvest (estimated) | Chg. (%) | 24/25 Harvest (projected) | Chg. (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Soybean | 70,612 | 77,545 | 10% | 75,541 | -3% | | Corn - 2nd Crop | 9,425 | 8,914 | -5% | 13,122 | 47% | | Cotton | 4,238 | 7,966 | 88% | 6,420 | -19% | | Ratoon Cane | 24,801 | 26,732 | 8% | 26,226 | -2% | | Total | 171,320 | 178,909 | 4% | 175,646 | -2% | Production by Crop (ton) - 2024/25 Harvest | Crop | 23/24 Harvest (realized) | 24/25 Harvest (estimated) | Chg. (%) | 24/25 Harvest (projected) | Chg. (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Soybean | 200,246 | 251,788 | 26% | 216,111 | -14% | | Corn - 2nd Crop | 48,152 | 54,102 | 12% | 73,237 | 35% | | Cotton | 10,177 | 31,170 | n.a | 20,553 | -34% | | Total (Grains & Cotton) | 300,712 | 403,917 | 34% | 378,879 | -6% | | Sugarcane (Tons harvested) | 2,060,451 | 2,272,136 | 10% | 2,227,677 | -2% | - Cattle raising projects a 7% decrease in number of heads and a 39% decrease in meat production for the 24/25 harvest compared to estimated[10] Production Cost Projections Production costs per hectare for the 2024/25 harvest show varied changes across crops, with some increases from estimated figures, notably for soybeans and corn Production Cost (R$/ha) -