BrasilAgro(US:LND)2023-09-06 20:34Financial Performance - Net revenue reached R$14 billion[2] - Adjusted EBITDA was R$5337 million[2] - Net income amounted to R$2685 million[2] - The company's equity is valued at R$2197142 thousand, with a properties appraisal of R$2867834 thousand[35] - NAV per share is R$3724, representing a 52% upside potential[36] Operational Highlights - Production volume reached 23 million tons in the 22/23 harvest[2] - Over 9 thousand arable hectares of land were sold, totaling R$610 million[2] - More than 12 thousand hectares (9134 arable hectares) were sold for R$610 million (R$445 million present value)[14] - Estimated planted area for the 23/24 crop is 185691 hectares[40] Farm Sales & Portfolio - Farm sales have an average value of R$2692 million over the last 5 years, with unleveraged IRRs between 136% and 565%[14] - Portfolio market value increased by 26%[15] - Rio do Meio Farm was sold for R$624 million, with an IRR of 160% over 279 years[11] - Araucária Farm was sold for R$4093 million[13] Production & Hedging - Total grain production reached 354088 tons in the 22/23 harvest, a 9% decrease from estimated[42] - Estimated total grain production for the 23/24 harvest is 446026 tons, a 26% increase[42] - Soybean production in 22/23 was 204606 tons, a 6% decrease from estimated[42] - Corn second crop delivered record yield, with average productivity of 130 bags/hectare for 20% of the total production[42]