Financial Indicators

Return on Equity

(R$ million) 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net Profit(1) 59 160 38 97 70 121 16 289 405 293 511 1,131 1,336 938 482
Net Land Appreciation(2) -36 179 222 374 428 140 199 19 110 142 216 2,626 2,203 1,433 601
Subtotal 23 339 308 471 498 261 215 308 515 435 727 3,757 3,539 2,371 1,083
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 12,907
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% 8.45%

(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 item.
(2) Based on the independent report (Deloitte), net of taxes, updated in 2024 and adjusted for participation in SLC LandCo (until 2023).
(3) Adjusted for land price appreciation.

Return on Invested Capital

(R$ million) 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Operating Income (1) 126 257 145 150 190 285 110 504 657 536 780 1,913 2,505 1,935 1,513
Taxes (38) (87) (72) (35) (40) (78) 20 (133) (200) (129) (203) (528) (658) (452) (96)
Adjusted Operating Income 88 170 73 116 150 207 130 378 457 407 577 1,385 1,847 1,483 1,417
Net Land Appreciation(2) (36) 179 270 374 428 140 199 19 110 142 216 2,626 2,203 1,433 601
Operating Result w/ Land 52 349 343 490 578 347 329 397 567 549 793 4,011 4,049 2,916 2,018
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 16,581
Gross Debt(4) 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 5,655
Cash 110 131 157 393 372 701 1,065 749 643 885 1,605 140 1,237 1,615 1,981
Net Debt 339 509 654 777 960 1,094 909 829 943 974 708 2,393 2,338 2,874 3,674
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 12,907
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% 12.2%

(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 report (Deloitte), net of taxes, updated in 2024 and adjusted for participation in SLC LandCo (until 2023).
(3) Adjusted for land price appreciation. (4) Gross Debt adjusted by gains and losses from derivatives

 

Net Asset Value – NAV – Updated until 12/31/2024

(R$ million) 4Q24
SLC Agrícola Farms(1) 10,337
SLC LandCo Farms(2) 324
Infrastructure (excl.land) 2,701
Credit related to tax loss 274
Accounts Receivable (excl. derivates) 3,567
Inventories 1,626
Biological Assets 1,920
Cash  20,749
Subtotal 18,784
Suppliers 1,725
Adjusted Gross Debt   613
Outstanding debt related to land acquisitions 5,250
Advance to costumers 519
Subtotal 8,107
Net Asset Value 12,642
Net Asset Value per share 28.5

 (1) Based on the independent appraisal report (Deloitte, 2024), net of taxes.

(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 March 17, 2025.
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