Sao Martinho SA
BOVESPA:SMTO3

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Sao Martinho SA Logo
Sao Martinho SA
BOVESPA:SMTO3
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Price: 13.45 BRL 0.98% Market Closed
Market Cap: 4.5B BRL

Sao Martinho SA
Investor Relations

In the sprawling landscape of Brazil's agribusiness sector, São Martinho SA stands as a testament to the power of strategic cultivation and industry foresight. Founded with deep roots in sugar cane production, the company has evolved over decades to become one of Brazil's leading sugar and ethanol producers. Their operations are a seamless blend of tradition and technology, efficiently transforming vast fields of sugarcane into valuable commodities. Leveraging Brazil’s favorable climate and the growing global demand for renewable energy, São Martinho has not only capitalized on the production of sugar—an essential food ingredient—but also embraced the burgeoning market for biofuels. Through comprehensive agricultural practices and robust industrial operations, the company ensures a steady supply of raw material that feeds its sophisticated processing plants, resulting in products that fuel both engines and economies.

São Martinho's business model thrives on its vertically integrated operations, which provide an edge in managing costs and controlling the quality of its output. Its revenue streams are diversified, primarily driven by the sale of sugar and ethanol, but also supplemented by by-products like electricity generated from biomass—an innovative and environmentally friendly solution to energy needs. This diversification mitigates the risks associated with price volatility in the global sugar market and governmental policy changes in biofuel standards. Additionally, the company's commitment to sustainability and cutting-edge technology positions it favorably in the eyes of environmentally conscious investors. By continually optimizing its production processes and maintaining a keen eye on global market trends, São Martinho stays ahead in the competitive agribusiness landscape, a true hallmark of strategic resilience and adaptive growth.

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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Nov 11, 2025
AI Summary
Q2 2026

Sugarcane Guidance Cut: Management lowered sugarcane crushing guidance by 2.7% due to adverse weather and productivity drops, now expecting 22 million tons for the crop year.

Production Mix Shift: The company shifted its production mix toward ethanol (51%) over sugar (49%) due to falling sugar prices and better ethanol margins and working capital dynamics.

CapEx Trimmed: CapEx guidance reduced by 5%, or about BRL 160–170 million, mainly due to maintenance savings and project scheduling, with total CapEx for the year at BRL 2.8 billion.

Sales Volume Down: Combined sugar and ethanol sales volumes were roughly 15% lower year-on-year, with a 21% drop in ethanol and 25% drop in sugar sales.

Margin Pressure: Margins dropped this quarter, mainly from lower prices and reduced operating leverage; sugar margins still led at about 19–20%.

Stable Debt & Liquidity: Net debt remains under control at 1.57x EBITDA, with low short-term maturities and BRL 3.2 million in cash.

Hedging & Pricing: Sugar hedges imply BRL 2,080/ton for future sales, down from last year due to the sharp decline in international sugar prices.

Key Financials
Sugarcane Crushing
22 million tons
CapEx
BRL 2.8 billion
Net Debt / EBITDA
1.57x
Cash
BRL 3.2 million
Sugar Hedge Price (Future Sales)
BRL 2,080 per ton
Cash Income (Year-to-date)
BRL 1,019
Corn Ethanol EBIT (Half Year)
BRL 146 million
Sugar Margin
19–20%
Ethanol Margin
3–4%
Earnings Call Recording
Other Earnings Calls

Management

Mr. Fabio Venturelli
CEO & Member of Board of Executive Officers
No Bio Available
Mr. Felipe Vicchiato
CFO, Investor Relation Director & Member of Board of Executive Officers
No Bio Available
Mr. Agenor Cunha Pavan Sr.
Vice-President Director of Agroindustrial Superintendent & Member of Board of Executive Officers
No Bio Available
Mr. Helder Luiz Gosling
Commercial & Logistics Director and Member of Board of Executive Officers
No Bio Available
Mr. Carlos Fernando Zaneti De Andrade
Agroindustrial Director of Santa Cruz Unit & Member of Board of Executive Officers
No Bio Available
Mr. Ricardo Azevedo Gonçalves
Agroindustrial Director of São Martinho Mill & Member of Board of Executive Officers
No Bio Available
Mr. Marcos Helder Pavan Monaco
Agroindustrial Director of Iracema Unit & Member of Board of Executive Officers
No Bio Available
Mr. Ivan Barcellos Dalri
Agroindustrial Director of Boa Vista & Member of Board of Executive Officers
No Bio Available
Ms. Luciana Cortes Carvas
Human Resources, Health & Safety Officer and Member of Executive Board
No Bio Available
Mr. Roberto Beraldo Melges
Administrative Officer & Member of Executive Board
No Bio Available

Contacts

Address
SAO PAULO
Pradopolis
Fazenda Sao Martinho, S/Nr., Zona Rural
Contacts