Earnings release
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RAIZ B3 LISTED N2 raízen Reshaping the future of energy RECORD RESULT IN Q2 21'22 R $ 3.3 BILLION ADJUSTED EBITDA REFLECTING EXPANSION AND IMPROVED PERFORMANCE OF THE RENEWABLES PORTFOLIO " Raízen posted a historical operational result , sustained by our commitment to continuous search for efficiency and higher profitability . By consolidating Biosev , we have increased our capacity to serve the market with integrated and competitive solutions , greater scale and sustainability . This is for sure an extremely important step towards our strategy to lead the energy transition and reshape the future of energy . " Ricardo Mussa , CEO Renewables R $ 1.8 billion Adjusted EBITDA Strong results , reflecting better pricing of bioenergy , especially ethanol Sugar R $ 603 million Adjusted EBITDA Better sugar price and lower sales in the quarter Marketing & Services R $ 917 million Adjusted EBITDA Strong recovery in fuel demand in Brazil and Argentina Financial Highlights - Pro forma¹ ( R $ Min ) Net Operating Revenues Q2 21'22 Q2 20'21 Var % YTD 21'22 YTD 20'21 Var % 59.4 % 87,470.3 52,277.8 67.3 % 48,910.7 30,681.7 Gross Profit 2,774.6 3,139.5 -11.6 % 6,029.6 Income before financial result 1,420.0 1,939.1 Adjusted EBITDA Investments 2 Adjusted net income 3 Net debt ( excl . PESA and CTN ) Adjusted EBITDA LTM 3,269.1 2,735.5 1,309.2 848.7 1,070.3 429.4 > 100 % 1,571.9 17,599.4 19,509.7 -9.8 % 11,548.4 6,178.8 86.9 % -26.8 % 3,289.8 19.5 % 5,523.7 54.3 % 2,457.8 4,197.7 43.6 % 1,818.6 80.9 % 3,218.6 71.6 % 1,956.1 25.6 % ( 51.1 ) n , a Net debt ( excl . PESA and CTN ) / Adjusted EBITDA LTM 1.5x 3.2x -1.7x 1 Q2 21'22 refers to : ( i ) Raízen's results combined with ( ii ) full result of Biosev regarding the months of July , August and September 2021 , with respective adjustments and exclusions between the business . Q2 20'21 , considers : ( i ) Raízen's results ( formerly Raízen Combustíveis S.A. ) and its subsidiaries , including Raízen Energia S.A , combined with ( ii ) full result of Biosev regarding the months of July , August and September 2020 , without eventual adjustments and exclusions between the business . 2 Includes expenditures on assets from agreements with clients and excludes acquisitions of companies and additions to investments in subsidiaries . 3 Net income , accounting results adjusted for non - recurring effects described on page 5 . DEFINITIONS Q2 21'22 : quarter ended on September 30 , 2021 . Q2 20'21 : quarter ended on September 30 , 2020 . Q121'22 : quarter ended on June 30 , 2021 . YTD 21'22 : period from April 1st , 2021 to September 30 , 2021 . YTD 20'21 : period from April 1st , 2020 to September 30 , 2020 . EBITDA LTM : Last twelve months ( from October 1st , 2020 to September 30 , 2021 ) . EARNINGS CONFERENCE CALL November 12 , 2021 ( Friday ) English ( simultaneous translation to Portuguese ) 11:00 a.m. ( Brasília ) | 09:00 a.m. ( New York ) BR : + 55 ( 11 ) 4935 1146 USA : +1 ( 914 ) 359 2483 English ( original audio ) : Code 8382 Portuguese ( translation ) : Code 4010 INVESTOR RELATIONS E - mail : ri@raizen.com Website : ri.raizen.com.br/en Phone : +55 11 4517-1545 1