A BrasilAgro (AGRO3), a company active in the purchase and sale of rural properties and in the production of cereals, fibers and bioenergy, announced on Tuesday (26) that it has sold a total area of 12,335 hectares (8,796 useful hectares) of the Chaparral Farm, located in Correntina (BA).
According to the company, the sales value is 350 bags of soybeans per useful hectare, or R$364.5 million. The buyer has already made an initial payment of R$53.5 million. The duration (average time of receipt) of this sale is 3.1 years.
From an accounting point of view, BrasilAgro informed, the value of this area of the agricultural company in the company’s accounting books is R$ 34.0 million (acquisition + investments net of depreciation) and has an IRR (rate internal return) expected in reais of 15.0%.
“This transaction marks the first sale of a fraction of Chaparral Farm, acquired in November 2007. To date, R$125.0 million has been invested in the acquisition and development of the property. The farm had a total area of 37,182 hectares (26,444 useful ha), of which 24,847 hectares (17,648 useful ha) remained in the portfolio after the sale,” added BrasilAgro.
BrasilAgro (AGRO3) reported a net loss of R$5.82 million in 2Q24; watch
According to a published report, BrasilAgro recorded a total net loss of R$5,822 million in the second quarter of the 2023/2024 harvest (2Q24), compared to losses of R$12,881 million in the second quarter of the 2022/2023 harvest (2Q23) . in early February.
In 2Q24, BrasilAgro’s total net revenues were R$155,687 million, a decrease of 15% compared to R$183,032 million recorded in 2Q23.
Adjusted Ebitda (earnings before interest, taxes, depreciation and amortization) was negative R$12,615 million, versus positive adjusted Ebitda of R$17,128 million in 2Q23.
Also according to BrasilAgro’s balance sheet, the value of agricultural sales decreased by 83% year-on-year, from R$28,093 million in 2Q23 to R$4,752 million in 2Q24.
“2024 has started off as challenging for agribusiness, both on the commercial and climate side. And once again, strategic planning and an integrated vision of production chains become increasingly important for companies in the sector”, underlines André Guillaumon, CEO Di BrasilAgro.
BrasilAgro’s performance
Source: Terra
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