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1Q07 presentation

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BrasilEcodiesel

Brasil Ecodiesel reported financial and operational results for the first quarter of 2007, with sales volume up 103% over the previous quarter. The company's biodiesel production capacity expanded to 800,000 cubic meters per year across four operational transesterification plants. Revenues increased 100% to R$61.1 million compared to the previous quarter, though the company reported a net loss of R$0.5 million. The number of farming families in Brasil Ecodiesel's supply network expanded by 71.9% over the previous quarter.

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Presentation of Financial and Operational Results 1Q07 May 11, 2007 www.brasilecodiesel.com.br/ir
Agenda Overview – Nelson José Cortês da Silveira (CEO) Results Presentation – Ricardo Luis de Lima Vianna (CFO and IR) 2
Overview Sales: 27,697 m3, an increase of 103% compared to 4Q06; Revenues: R$ 61.1 million, an increase of 100% compared to 4Q06; Net Loss: Reduction to R$ 0.5 million; Transesterification Plants: Floriano, Crateús and Iraquara operational, but under installed capacity; Porto Nacional operational in May, pending authorization to begin sales; Rosário do Sul and Itaquí pre-operational; Oil Extraction Plants: São Luiz Gonzaga and Crateús operational; Iraquara pre-operational; Porto Nacional and Floriano under construction and planning; Family Farming Integration Network: expansion of 71.9%, to 57,606 families. 3
1st Quarter 2007 Industrial structure evolution Vegetable Oil markets evolution Agricultural expansion Operational performance Financial performance 4
Industrial Structure and its Evolution Evolution of installed biodiesel Largest biodiesel producer production capacity (thousand m3) 900 of Brazil in terms of 800 800 installed capacity. 700 600 thsl m3 500 400 400 282 300 200 100 27 0 dec/05 dec/06 may/07 dec/07E Transesterification Plants 4 operational (1 under expansion) 2 pre-operational 1 planning stage 5
Vegetable Oil Markets Evolution Soy Oil CBOT went up roughly 12.5% in 1Q07, reaching at US$ 725.98/ ton, around 38% over the average of the last 5 years. Palm Oil prices increased 4.5% in Malaysia market, the main producer. Reflecting higher global demand for biofuels, today and for the future. Soy and Palm Oil Prices 2100 740 720 2050 700 The Market endorses Brasil 2000 680 Ecodiesel`s strategic vision to reduce its exposure to oil MYR / ton 660 US$/ ton 1950 640 markets by establishing new 620 1900 600 oil supply chains. 580 1850 560 1800 540 b b b b b ar ar 16 r 21 r 26 r 29 r ar n n n n n n n /fe /fe /fe fe fe a a a a /ja /ja /ja ja /ja /ja ja m m m /m /m /m /m 8/ 5/ 8/ 13 21 26 3/ 22 25 30 11 17 1/ 6/ 9/ Palm (MYR/ ton) Soy (US$/ ton) 6
Agricultural Expansion Situation in 03.31.2007: 57,606 families under 71.9% higher than contract 4Q06 26,000* hectares of Mainly for owned lands and 1,200 jatropha curcas ha of leased lands plantations * Does not include Núcleo Santa Clara area 7
Operational Performance Biodiesel Sales increased by 103% in 1Q07 CQGR of 97% since 1Q06 Biodiesel Sales Evolution 30,000 27,697.0 25,000 % CQGR = 97% 20,000 13,637.1 15,000 8,414.0 10,000 5,839.2 5,000 1,838.5 0 1Q06 2Q06 3Q06 4Q06 1Q07 Sales (m3) 8
Financial Performance Sales, revenues and margins – Quarterly Evolution Cost of goods sold 4Q06 and 1Q07 Operational Expenses 4Q06 and 1Q07 Cash, Cash Equivalents and Investments in the 1Q07 Capital Markets 9
Gross Revenues, Net Revenues and Gross Margins Gross Revenues of R$ 61.1 million, Net Revenue of R$ 48.3 million and gross margin of 7.3% in the 1Q07. Selected Performance Indicators in the Last 4 Quarters 70,000 25% 23.8% 61,130 60,000 20% 50,000 17.6% 15% 40,000 30,448 27,697 30,000 9.9% 10% 18,296 7.3% 20,000 12,780 13,637 5% 8,414 10,000 5,839 0,0 0% 2Q06 3Q06 4Q06 1Q07 Sales (m3) Gross Revenues (R$ ths) Gross Margin 10
Cost of Goods Sold The cost of goods sold totaled R$ 44.7 in the 1Q07, representing 92.7% of the net revenue on the period. Comparison CGS: 4Q06 – 1Q07 100% 90% 78.6% 80.2% 80% 70% 60% 50% 40% 30% 13.1% 20% 10.6% 4.1% 3.2% 2.4% 2.4% 10% 0.5% 1.0% 1.3% 2.5% 0% Vegetable Oil Methanol Other Inputs Employees General Costs Depreciation 4Q06 1Q07 11
Expenses General and Administrative Expenses: R$ 6.7 million in the 1Q07 Tax Expenses: R$ 0.7 million in the 1Q07 Financial Expenses: (R$ 3.2 million) in the 1Q07 8,0 6.7 6.1 6,0 4,0 2,0 0.7 0.5 0.5 0,0 G&A Tax Financial (2,0) (4,0) (3.2) 4Q06 1Q07 12
Cash and Investments CAPEX and other expenditures – 1Q07 R$ million Reached R$ 115 million in the 1Q07; R&D Other 1.3 R$ 47.7 in Capacity expansion 1.4 1.1% Oil Extraction 1.2% Transesterification 13.0 Positive net indebtedness of R$ 42.3 29.4 11.3% million on 1Q07. 25.5% Working Capital & Inventory 65.7 56.9% Agriculture 4.5 Indebtedness 3.9% Indebtedness (em R$ thousand) 4Q06 1Q07 Short Term R$ 5,730 R$ 5,076 (+) Long Term R$ 49,764 R$ 49,740 (=) Total Indebtedness R$ 55,494 R$ 54,816 (-) Cash and Cash Equivalents R$ 211,855 R$ 97,077 (=) Net Debt (R$ 156,361) (R$ 42,261) 13
Capital Market ECOD3 performance in the 1Q07 13.00 48,000 46,000 12.00 44,000 42,000 11.00 40,000 38,000 10.00 36,000 9.00 34,000 32,000 8.00 30,000 b b b b b b ar ar ar ar ar ar ar ar n n n n n n n fe fe fe /fe /fe /fe ja ja /ja /ja /ja /ja /ja m /m /m /m /m /m m m 6/ 9/ 1/ 2/ 5/ 14 21 26 10 15 18 23 29 6/ 1/ 9/ 14 19 22 27 30 ECOD3 - 1Q07 Un. ECOD3 IBOV No of Stocks 10,750,400 No of Operations 10,878 ECOD3 - 1Q07 Low 8.77 ECOD3 - 1Q07 R$ million High 12.65 Volume 117.68 Average 10.95 Average Volume 1.93 14
Investor Relations Ricardo Luis de Lima Vianna CFO and IR Officer Roberto Honczar IR Manager Marcos Leite IR Analyst Phone: +0 55 (21) 2546-5031 Website: www.brasilecodiesel.com.br/ri 15
Aviso This document may contain prospective statements, which are subject to risks and uncertainties, as they were based on the expectations of Company’s management and on available information. These prospects include statements concerning the Company’s current intensions or expectations for our clients; this presentation will also be available on our website www.brasilecodiesel.com.br/ir and also in the IPE system at the Brazilian Security Exchange Commission – CVM. Forward-looking statements refer to future events which may or may not occur. Our future financial situation, operating results, market share and competitive positioning may differ substantially from those expressed or suggested by said forward-looking statements. Many factors and values that can establish these results are outside Company’s control or expectation. The reader/investor is prevented not to completely rely on the information above . The words “believe", “can", “predict", “estimate", “continue", “anticipate", “intend", “forecast" and similar words, are intended to identify affirmations. Such estimates refer only to the date in which they were expressed, therefore Company has no obligation to update said statements. This presentation does not consist of offering, invitation or request of subscription offer or purchase of any marketable securities. And, this statement or any other information herein, does not consist of a contract base or commitment of any kind. 16

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1Q07 presentation

  • 1. Presentation of Financial and Operational Results 1Q07 May 11, 2007 www.brasilecodiesel.com.br/ir
  • 2. Agenda Overview – Nelson José Cortês da Silveira (CEO) Results Presentation – Ricardo Luis de Lima Vianna (CFO and IR) 2
  • 3. Overview Sales: 27,697 m3, an increase of 103% compared to 4Q06; Revenues: R$ 61.1 million, an increase of 100% compared to 4Q06; Net Loss: Reduction to R$ 0.5 million; Transesterification Plants: Floriano, Crateús and Iraquara operational, but under installed capacity; Porto Nacional operational in May, pending authorization to begin sales; Rosário do Sul and Itaquí pre-operational; Oil Extraction Plants: São Luiz Gonzaga and Crateús operational; Iraquara pre-operational; Porto Nacional and Floriano under construction and planning; Family Farming Integration Network: expansion of 71.9%, to 57,606 families. 3
  • 4. 1st Quarter 2007 Industrial structure evolution Vegetable Oil markets evolution Agricultural expansion Operational performance Financial performance 4
  • 5. Industrial Structure and its Evolution Evolution of installed biodiesel Largest biodiesel producer production capacity (thousand m3) 900 of Brazil in terms of 800 800 installed capacity. 700 600 thsl m3 500 400 400 282 300 200 100 27 0 dec/05 dec/06 may/07 dec/07E Transesterification Plants 4 operational (1 under expansion) 2 pre-operational 1 planning stage 5
  • 6. Vegetable Oil Markets Evolution Soy Oil CBOT went up roughly 12.5% in 1Q07, reaching at US$ 725.98/ ton, around 38% over the average of the last 5 years. Palm Oil prices increased 4.5% in Malaysia market, the main producer. Reflecting higher global demand for biofuels, today and for the future. Soy and Palm Oil Prices 2100 740 720 2050 700 The Market endorses Brasil 2000 680 Ecodiesel`s strategic vision to reduce its exposure to oil MYR / ton 660 US$/ ton 1950 640 markets by establishing new 620 1900 600 oil supply chains. 580 1850 560 1800 540 b b b b b ar ar 16 r 21 r 26 r 29 r ar n n n n n n n /fe /fe /fe fe fe a a a a /ja /ja /ja ja /ja /ja ja m m m /m /m /m /m 8/ 5/ 8/ 13 21 26 3/ 22 25 30 11 17 1/ 6/ 9/ Palm (MYR/ ton) Soy (US$/ ton) 6
  • 7. Agricultural Expansion Situation in 03.31.2007: 57,606 families under 71.9% higher than contract 4Q06 26,000* hectares of Mainly for owned lands and 1,200 jatropha curcas ha of leased lands plantations * Does not include Núcleo Santa Clara area 7
  • 8. Operational Performance Biodiesel Sales increased by 103% in 1Q07 CQGR of 97% since 1Q06 Biodiesel Sales Evolution 30,000 27,697.0 25,000 % CQGR = 97% 20,000 13,637.1 15,000 8,414.0 10,000 5,839.2 5,000 1,838.5 0 1Q06 2Q06 3Q06 4Q06 1Q07 Sales (m3) 8
  • 9. Financial Performance Sales, revenues and margins – Quarterly Evolution Cost of goods sold 4Q06 and 1Q07 Operational Expenses 4Q06 and 1Q07 Cash, Cash Equivalents and Investments in the 1Q07 Capital Markets 9
  • 10. Gross Revenues, Net Revenues and Gross Margins Gross Revenues of R$ 61.1 million, Net Revenue of R$ 48.3 million and gross margin of 7.3% in the 1Q07. Selected Performance Indicators in the Last 4 Quarters 70,000 25% 23.8% 61,130 60,000 20% 50,000 17.6% 15% 40,000 30,448 27,697 30,000 9.9% 10% 18,296 7.3% 20,000 12,780 13,637 5% 8,414 10,000 5,839 0,0 0% 2Q06 3Q06 4Q06 1Q07 Sales (m3) Gross Revenues (R$ ths) Gross Margin 10
  • 11. Cost of Goods Sold The cost of goods sold totaled R$ 44.7 in the 1Q07, representing 92.7% of the net revenue on the period. Comparison CGS: 4Q06 – 1Q07 100% 90% 78.6% 80.2% 80% 70% 60% 50% 40% 30% 13.1% 20% 10.6% 4.1% 3.2% 2.4% 2.4% 10% 0.5% 1.0% 1.3% 2.5% 0% Vegetable Oil Methanol Other Inputs Employees General Costs Depreciation 4Q06 1Q07 11
  • 12. Expenses General and Administrative Expenses: R$ 6.7 million in the 1Q07 Tax Expenses: R$ 0.7 million in the 1Q07 Financial Expenses: (R$ 3.2 million) in the 1Q07 8,0 6.7 6.1 6,0 4,0 2,0 0.7 0.5 0.5 0,0 G&A Tax Financial (2,0) (4,0) (3.2) 4Q06 1Q07 12
  • 13. Cash and Investments CAPEX and other expenditures – 1Q07 R$ million Reached R$ 115 million in the 1Q07; R&D Other 1.3 R$ 47.7 in Capacity expansion 1.4 1.1% Oil Extraction 1.2% Transesterification 13.0 Positive net indebtedness of R$ 42.3 29.4 11.3% million on 1Q07. 25.5% Working Capital & Inventory 65.7 56.9% Agriculture 4.5 Indebtedness 3.9% Indebtedness (em R$ thousand) 4Q06 1Q07 Short Term R$ 5,730 R$ 5,076 (+) Long Term R$ 49,764 R$ 49,740 (=) Total Indebtedness R$ 55,494 R$ 54,816 (-) Cash and Cash Equivalents R$ 211,855 R$ 97,077 (=) Net Debt (R$ 156,361) (R$ 42,261) 13
  • 14. Capital Market ECOD3 performance in the 1Q07 13.00 48,000 46,000 12.00 44,000 42,000 11.00 40,000 38,000 10.00 36,000 9.00 34,000 32,000 8.00 30,000 b b b b b b ar ar ar ar ar ar ar ar n n n n n n n fe fe fe /fe /fe /fe ja ja /ja /ja /ja /ja /ja m /m /m /m /m /m m m 6/ 9/ 1/ 2/ 5/ 14 21 26 10 15 18 23 29 6/ 1/ 9/ 14 19 22 27 30 ECOD3 - 1Q07 Un. ECOD3 IBOV No of Stocks 10,750,400 No of Operations 10,878 ECOD3 - 1Q07 Low 8.77 ECOD3 - 1Q07 R$ million High 12.65 Volume 117.68 Average 10.95 Average Volume 1.93 14
  • 15. Investor Relations Ricardo Luis de Lima Vianna CFO and IR Officer Roberto Honczar IR Manager Marcos Leite IR Analyst Phone: +0 55 (21) 2546-5031 Website: www.brasilecodiesel.com.br/ri 15
  • 16. Aviso This document may contain prospective statements, which are subject to risks and uncertainties, as they were based on the expectations of Company’s management and on available information. These prospects include statements concerning the Company’s current intensions or expectations for our clients; this presentation will also be available on our website www.brasilecodiesel.com.br/ir and also in the IPE system at the Brazilian Security Exchange Commission – CVM. Forward-looking statements refer to future events which may or may not occur. Our future financial situation, operating results, market share and competitive positioning may differ substantially from those expressed or suggested by said forward-looking statements. Many factors and values that can establish these results are outside Company’s control or expectation. The reader/investor is prevented not to completely rely on the information above . The words “believe", “can", “predict", “estimate", “continue", “anticipate", “intend", “forecast" and similar words, are intended to identify affirmations. Such estimates refer only to the date in which they were expressed, therefore Company has no obligation to update said statements. This presentation does not consist of offering, invitation or request of subscription offer or purchase of any marketable securities. And, this statement or any other information herein, does not consist of a contract base or commitment of any kind. 16