Adecoagro S.A. (AGRO) Q2 2023 Earnings Call Transcript

Adecoagro S.A. (NYSE:AGRO) Q2 2023 Earnings Conference Call August 18, 2023 10:00 AM ET

Company Participants

Mariano Bosch – CEO

Emilio Gnecco – CFO

Renato Junqueira Pereira – Sugar, Ethanol and Energy VP

Vitoria Cabello – IR Officer

Conference Call Participants

Thiago Duarte – BTG Pactual

Guilherme Palhares – Bank of America

Lucas Ferreira – JPMorgan


Good morning, ladies and gentlemen, and thank you for waiting. At this time, we would like to welcome everyone to Adecoagro’s Second Quarter 2023 Results Conference Call.

Today with us, we have Mr. Mariano Bosch, CEO; Mr. Emilio Gnecco, CFO; Mr. Renato Junqueira Pereira, Sugar, Ethanol and Energy VP; and Ms. Vitoria Cabello, Investor Relations Officer. We would like to inform you that this event is being recorded. [Operator Instructions]

Before proceeding, let me mention that forward-looking statements are based on the beliefs and assumptions of Adecoagro’s management and on information currently available to the company. They involve risks, uncertainties and assumptions because they relate to future events and therefore, depend on circumstances that may or may not occur in the future. Investors should understand that general economic conditions, industry conditions and other operating factors could also affect the future results of Adecoagro and could cause results to differ materially from those expressed in such forward-looking statements.

Now I’ll turn the conference over to Mr. Mariano Bosch, CEO. Mr. Bosch, you may begin your conference.

Mariano Bosch

Good morning, and thank you for joining Adecoagro’s 2023 second quarter results conference.

As you may have seen in the report, we are presenting very good results despite the extreme drought that impacted some of our operations. Our adjusted EBITDA was 15% higher compared to last year. It is in times like this, when we can clearly show and monetize the benefits of being diversified and focused on achieving efficiencies in

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