Financial Indicators

Return on Equity

(R$ million) 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Net Profit(1) 59 160 38 97 70 121 16 289 405 293 511 1,131 1,336 938
Net Land Appreciation(2) -36 179 222 374 428 140 199 19 110 142 216 2,626 2,203 1,433
Subtotal 23 339 308 471 498 261 215 308 515 435 727 3,757 3,539 2,371
Shareholder’s Equity(3) 1,839 2,063 2,407 3,087 3,771 3,911 4,346 4,438 4,447 4,809 5.192 8,443 11,765 13,544
Return on Equity 1.3% 16.4% 12.8% 15.3% 13.2% 6.7% 4.9% 6.9% 11.5% 9.0% 14.0% 44.5% 30.1% 17.5%

(1) Even in periods that encompass net income from the land sales, in this analysis only the profit of the “agricultural operation” is considered, since the gains from appreciation of land are being considered in a specific line.
(2)Based on the independent appraisal report (Deloitte),  net of taxes, update in 2023.
(3)Adjusted for land appreciation.

Return on Invested Capital

(R$ million) 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Operating Income 126 257 145 150 190 285 110 504 657 536 780 1,913 2,505 1.935
Taxes (38) (87) (72) (35) (40) (78) 20 (133) (200) (129) (203) (528) (658) (452)
Adjusted Operating Income 88 170 73 116 150 207 130 378 457 407 577 1,385 1,847 1,483
Net Land Appreciation(1) (36) 179 270 374 428 140 199 19 110 142 216 2,626 2,203 1,433
Operating Result w/ Land 52 349 343 490 578 347 329 397 567 549 793 4,011 4,049 2.916
Invested Capital 2,110 2,527 2,987 3,753 4,329 4,788 4,856 5,021 5,420 5,783 5,900 10,836 14,103 16,418
Gross Debt((2) 450 640 811 1,170 1,332 1.795 1,974 1,578 1,586 1,859 2,313 2,534 3,574 4,488
Cash(2) 110 131 157 393 372 701 1,065 749 643 885 1,605 140 1,237 1,615
Net Debt (2) 339 509 654 777 960 1,094 909 829 943 974 708 2,393 2,338 2,874
Shareholder’s Equity  (3) 1,771 2,018 2,333 3,087 3,771 3,911 4,346 4,275 4,447 4,809 5,192 8,443 11,765 13,544
Return on Invested Capital 2.5% 13.8% 11.5% 12.7% 12.2% 6.9% 6,3% 7.8% 10.5% 9.5% 13.4% 37.0% 28.7% 17.8%

(1) Even in periods that encompass operational results from the land sales, in this analysis only the results of the “agricultural operation” is considered, since the gains from appreciation of land are being considered in a specific item.
(2) Based on the independent appraisal report (Deloitte), updated as of 2023, net of taxes.
(3) Adjusted by land appreciation.

 

Net Asset Value – NAV – Updated until 12/31/2023

(R$ million) 4Q23
SLC Agrícola Farms(1) 7,830
SLC LandCo Farms(1) 1,919
Infrastructure (excl.land) 2,189
Credit related to tax loss(2) 321
Accounts Receivable (excl. derivates) 147
Inventories 3,472
Biological Assets 1,378
Cash  1,528
Subtotal 18,784
Suppliers 1,179
Adjusted Gross Debt   4,298
Outstanding debt related to land acquisitions 161
Advance to costumers 334
Subtotal 5,972
Net Asset Value 12,812
Net Asset Value per share 28.90

 (1) Based on the independent appraisal report (Deloitte), net of taxes. Update in 2023.

(2) Tax loss, related to a wholly-owned subsidiary – SLC Centro-Oeste

NOTE: All accounts are adjusted by SLC Agrícola’s interests in subsidiaries/joint ventures

Last updated on April 1, 2024.
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