2. Sector of Activity
Food Energy
Cotton Ethanol
Soyabean Biodiesel
Corn Vegetable Oil
3. Renewable Energy
Brazillian Biodiesel Production
Biodiesel (thousand m³)
The biodiesel industry operates in a fully regulated market 2,397
(quartely auctions coordinated by ANP).
1,608
1,167
The sector works with idleness at the rate of 60%.
404
0.74 69
The biodiesel sector has to grow and to develop into a
new regulatory milistone. 2005 2006 2007 2008 2009 2010
Social Fuel Stamp. Raw material participation in
brazillian production
Variable cost industry (90% of the cost come from
2%
soyabean oil and methanol).
18%
B5, 3 years before the schedule. Soybean oil
Bovine fat
80%
Still dependent of the soyabean as feedstock. Others
4. Renewable Energy
Biodiesel
Brasil Ecodiesel has in operation four transesterification units, with 518.4 thousands m³/ year biodiesel
production capacity.
The company has taken some initiatives for cost reduction, as well as soybean crushing volume
increase, wich contributes to raw material cost reduction
Vegetable Oil
Brasil Ecodiesel has and intends to operate this year vegetable oil extraction units, where vegetable oil is
extracted from agricultural production originating from own chain and partnership.
In 2010, the company crushed, in outsourced manner, 71,461 tons of soyabean grains purchased from
family farming, generating revenues amounting to R$ 35.5 million with bran sale.
Ethanol
With Maeda merger, Brasil Ecodiesel became the holder a 25% interest in Tropical Bioenergia, in a
partnership with BP Biofuels (50%), and LDC-SEV Bioenergia (25%).
Tropical Bioenergia has a 2.4 million ton grinding capacity, with 60%/40% sugar and ethanol production
flexibility, and vice-versa.
5. Plant Locations
Biodiesel
Biodiesel São Luís - MA
Porto Nacional - TO Cap./ year: 129,600m³
Cap./ year:129,600m³
Biodiesel and crusher.
(Mamona)
Iraquara – BA
Cap./year(bill): 129,600m³
Cap./year(crusher): 180,000ton
Crusher (Cotton)
Itumbiara – GO
Cap./year: 155,700ton
Crusher (Soya)
Cruz Alta – RS Biodiesel Facilities
Crusher (Soya) Cap./year: 270,000ton
São Luiz Gonzaga - RS
Cap./year: 270,000ton
Crushing Facilities
Biodiesel
Rosário do Sul – RS
Cap./year:129,600m³
6. Food / Agricultural Commodities
CEPEA/ESALQ Price Indexes
(Base 100 = 01/04/2010)
Strong demand against existing commodities supply. 225,0
175,0
High agricultural commodity prices due to, among other 125,0
reasons, the low inventories of most agricultural products. 75,0
World population growth.
Cotton Corn Soybean
7. Food / Agricultural Commodities
Maeda merger adds to Brasil Ecodiesel the experience of one of the most traditional agricultural producers
inthe brazillian markets.
Total planted area for 2010/2011 harvest is 85,811.
We are on the frontier of what is considered the most advanced in international agribusiness.
AREAS STATEMENTS - CROP 2010-11 (ha)
Distribution per crop
Farms State Available Area Planting Total Cotton Soybean Corn Others Planted Area (ha)
Dom Pedro BA 16,966 15,921 8,742 6,390 - 789 State 2010/2011
Amizade BA 11,298 9,898 2,269 6,418 - 1,211
BA 25,819
Sucesso BA 12,682 - -
Guapirama MT 9,001 9,374 4,299 5,075 - - MT 47,705
São José MT 29,207 38,331 3,442 24,228 10,032 629 GO 12,287
Catalão GO 3,923 3,877 - 3,006 456 415 Total 85,811
Bartolomeu GO 8,486 8,410 - 7,652 758 -
Total 91,563 85,811 18,752 52,769 11,246 3,044
8. Farming Calendar
CROP SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
SOYA
(MT)
Planting Treatment Harvesting Planting Treatment
SOYA
(BA)
Planting Treatment Harvesting Planting Treat..
SOYA
(GO)
Planting Treatment Harvesting Planting T.
COTTON
(MT)
Planting Treatment Harvesting Plant.
COTTON
(BA)
Planting Treatment Harvesting Planting T.
CORN
(MT)
Planting Treatment Harvesting
CORN
(BA)
Planting Treatment Harvesting Planting Treatment
9. Farm Locations
São José Dom Pedro
Campo N. P. - MT
Planting (11/12): 42,494ha São Desidério - BA Planting (11/12)
Planting (10/11): 38,331ha Planting (11/12): 16,237ha
Planting (10/11): 15,921ha
BA: 27,235 ha
MT: 52,990 ha
GO: 12,287 ha
Total: 92,512 ha
Sucesso
Irecê - BA
Guapirama Planting (11/12): 0 ha
Diamantino - MT
Planting (11/12): 10,496ha
Planting (10/11): 9,374ha
Catalão
Catalão - GO
Planting (11/12): 3,877ha
Planting (10/11): 3,877ha
Farms Amizade
(2011/12 crops) Correntina - BA
Planting (11/12): 10,998ha
Batalha do Planting (10/11): 9,898ha
Bartolomeu
Guarda-Mor - MG
Planting (11/12): 8,410ha
Planting (10/11): 8,410ha
11. Principal (Main) Accounting Changes
Adoption of the standard full IFRS - Inclusion of CPC's.
Incorporation of Maeda - Consolidation of the DF's
Realization of the PPA (Purchase Pricing Allocation) on
goodwill on acquisition of Maeda
12. Consolidated Headline Result
Book Values Adjusted Values
Description
2010 VA (%) 2009 VA (%) HA (%) 2010 (**) VA (%) 2009 (*) VA (%) HA (%)
Volume of biodiesel sold (m³) 172,247 151,966 13.35% 172,247 151,966 13.35%
Gross Revenue 465,009 117.8% 404,919 115.9% 14.84% 465,009 117.8% 404,919 115.9% 14.84%
Net Revenue 394,792 100.0% 349,322 100.0% 13.02% 394,792 100.0% 349,322 100.0% 13.02%
(-) Biological Asset Fair Value Variation 2,646 0.7% 1,591 0.5% 66.31% 2,646 0.7% 1,591 0.5% 66.31%
(-) COGS 350,328 88.7% 312,031 89.3% 12.27% 350,328 88.7% 312,031 89.3% 12.27%
Gross Profit (Loss) 41,818 10.6% 38,882 11.1% 7.55% 41,818 10.6% 38,882 11.1% 7.55%
(-) Operating expenses 62,488 15.8% 42,053 12.0% 48.59% 50,379 12.8% 36,159 10.4% 39.33%
General and Administratives 45,550 34,877 30.60% 45,550 34,877 30.60%
Taxes (tributárias) 756 1,282 -41.03% 756 1,282 -41.03%
Others operating Income (expenses) 16,182 5,894 174.55% 16,182 5,894 174.55%
Other non recurrent Expenses 9,003
Strategic new target adjustment (14,897)
Petrobras Agreement (12,109)
Operating Income (EBIT) (20,670) -5.2% (3,171) -0.9% 551.79% (8,561) -2.2% 2,723 0.8%
Financial Income (2,240) -0.6% (31,707) -9.1% 4,155 1.1% (31,707) -9.1%
Reversal correction of client payment in
advance
(6,395)
New profit (loss) (22,910) -5.8% (34,879) -10.0% -34.32% (4,406) -1.1% (28,985) -8.3%
Net Margin -5.80% -9.98% -1.12% -8.30%
EBITDA (9,340) -2.4% 22,793 6.5% 2,769 0.7% 28,687 8.2% -90.35%
EBITDA Margin -2.37% 6.52% 0.70% 8.21%
Note: Adjusted data disregard the following amounts:
(*) Other revenues/non-recurring expenses referring right of use assignment and raw material inventory amount adjustment
(*) Strategic new target adjustment
(**)Reversal of fines referring to the agreement with Petrobrás
(**) Correction of advance to customers received in 2007
13. Balance Sheet
Assets
Consolidated (BR GAAP and IFRS)
Assets
2010 VA 2009 VA 2010/2009
Tota Current Assets 440,528 100% 251,134 100% 75%
Total non-current assets 881,274 200% 267,217 106% 230%
Total Assets 1,321,802 300% 518,351 206% 155%
Company (BR GAAP)
Assets
2010 VA 2009 VA 2010/2009
Tota Current Assets 226,184 100% 243,604 100% -7%
Total non-current assets 571,432 253% 271,505 111% 110%
Total Assets 797,616 353% 515,109 211% 55%
14. Balance Sheet
Liabilities and Shareholders Equity
Consolidated (BR GAAP and IFRS)
Liabilities and Shareholder´s Equity
2010 VA 2009 VA 2010/2009
Total Current Liabilities 316,837 24% 50,822 10% 523%
Total non-current Liabilities 318,499 24% 78,703 15% 305%
Total Shareholder´s Equity 686,466 52% 388,826 75% 77%
Total Liabilities and Shareholder´s Equity 1,321,802 100% 518,351 100% 155%
Company (BR GAAP)
Liabilities and Shareholder´s Equity
2010 VA 2009 VA 2010/2009
Total Current Liabilities 51,101 6% 47,982 9% 7%
Total non-current Liabilities 60,042 8% 78,301 15% -23%
Total Shareholder´s Equity 686,473 86% 388,826 75% 77%
Total Liabilities and Shareholder´s Equity 797,616 100% 515,109 100% 55%
18. Debt
2010 2009
Debt (in thousands R$)
Maeda Brasil Ecodiesel Total
Short Term (109,454) (16,457) (125,911) (10,886)
(+) Long Term (66,284) (39,272) (105,556) (55,676)
(=) Total Debt (175,738) (55,729) (231,467) (66,562)
(+) Cash and Cash Equivalents 12,980 113,361 126,341 103,822
(=) Cash/ Net Debt (162,758) 57,632 (105,126) 37,260
Adjustment: Sale of assets 77,850 77,850
(=) Cash/ Net Debt Adjusted (84,908) 57,632 (27,276) 37,260
19. Net Loss
2009 2010 2009 (*) 2010 (*)
Net Income (Loss) (34,879) (22,910) (28,985) (4,406)
Net Margin -9.98% -5.80% -8.30% -1.12%
20. EBITDA
2009 2010 2009 (*) 2010 (**)
Net Revenue 349,322 394,792 349,322 394,792
(-) COGS 312,031 350,328 312,031 350,328
Fair value variation of biological asset 1,591 (2,646) 1,591 (2,646)
Gross Income (Loss) 38,882 41,818 38,882 41,818
Net Income (Loss) (34,879) (22,910) (28,985) (4,406)
EBITDA 22,793 (9,340) 28,687 2,769
EBITDA Margin 6.52% -2.37% 8.21% 0.70%
Note: Adjusted data disregard the following amounts:
(*) Other revenues/non-recurring expenses referring right of use assignment and raw material inventory amount adjustment
(*) Strategic new target adjustment
(**)Reversal of fines referring to the agreement with Petrobrás
(**) Correction of advance to customers received in 2007
22. Price Evolution e Financial Volume
Market Value Sharesholders Position (%)
(December 30, 2010 )
R$ 1,084 Million
22,4
6,8 Vila Rica I - Mutual Fund
Bonsucex Holding
70,8
Others
Number of Shares
R$ 1,084,190,282
Number of Shareholders
24,174
25. Estimates
Revenue, Net Revenue and EBITDA
Net Income
2011 Crop year 11/12*
Brasil Ecodiesel 569 569
Maeda 277 342
Total 846 911
Sales Revenue
2011 Crop year 11/12*
Brasil Ecodiesel 654 654
Maeda 289 370
Total 952 1,024
EBITDA
2011 Crop year 11/12*
Brasil Ecodiesel 12 12
Maeda 38 52
Total 50 64
*Crop year 11/12 – September 2011 to August 2012
26. Estimates
Planted Area
Planted Area (ha)
State 2011/2012
BA 27,236
MT 52,990
GO 12,286
Total 92,512
AREAS STATEMENTS - CROP 2011-12 (ha)
Distribution per crop
Farms State Available Area Planting Total Cotton Soybean Corn Others
Dom Pedro BA 16,968 16,237 8,351 6,780 - 1,103
Amizade BA 12,398 10,998 2,741 5,946 - 2,311
Sucesso BA 12,682 - - - - -
Guapirama MT 9,001 10,496 4,915 5,583 - -
São José MT 29,208 42,494 7,066 24,723 10,076 629
Catalão GO 3,923 3,877 - 3,114 348 415
Bartolomeu GO 8,486 8,410 2,975 4,621 815 -
Total 92,666 92,512 26,048 50,767 11,239 4,458
27. Estimates
Investments
Project Description Investments (Millions R$)
Assets Working Capital Total
Glycerin Burning • Use of glycerin and wood for supplying the
boilers of Rosário do Sul, in replacement to $2.60 $2.60
the fuel oil.
Crusher - São Luis Gonzaga Operation of the crushing unit of São Luiz
Gonzaga in order to operate with soy $1.70 $43.00 $44.70
purchased in the RS.
Agricultural Machinery • Purchase of machinery (19 tractors, 19
seeders, 9 pulverizers and 5 cotton $20.00 $20.00
harvesters).
Crusher Itumbiara - GO • Operation of the cotton crushing unit $41.00 $41.00
Mix Improvement • Improvement to the products mix and
$16.50 $16.50
higher advantage from the planted area
TOTAL INVESTMENTS $24.30 $100.50 $124.80
