Management Report 2020
Management Report 2020
Net revenue
In 2020, net revenue surpassed the mark of R$3 billion for the first
time ever, representing growth of 22.1% on 2019. The increase was
supported mainly by the higher prices invoiced for soybean and corn
as well as the higher volume of cotton invoiced compared 2019.
The calculation of Variation in Fair Value of Biological Assets ("VFVBA")
reflects the estimated gross margin (sale price at farm less unit costs
incurred) of crops presenting significant biological transformation in
the calculation period. In the year, VFVBA was 53.6%, higher than in
2019, explained by the expectation of higher margins in the 2019/20
crop year compared to the 2018/19 crop year.
TABLE 9. NET REVENUE
TABLE 10. VOLUME INVOICED
(Tons)
Volume invoiced
Cotton lint
Cotton seed
Soybean
Corn
Other
SLC Agrícola
2019
2020
HA
2,004,703
185,374
2,107,961 5.2%
215,965 16.5%
234,986
281,613 19.8%
898,368
899,278
0.1%
634,644
51,331
662,840 4.4%
48,265 -6.0%
(R$'000)
2019
2020
HA
TABLE 11. VARIATION IN FAIR VALUE OF BIOLOGICAL ASSETS
(R$'000)
2019
2020
HA
Net revenue
2,535,905
3,097,547
Cotton lint
Cotton seed
1,212,573
Soybean
Corn
Other
FX hedge results
77,154
1,036,218
253,376
72,874
(116,290)
22.1%
1,697,671 40.0%
156,269 102.5%
1,291,803 24.7%
383,504 51.4%
Var. Fair Value - biological assets
Cotton lint
99,907 37.1%
Cotton seed
Soybean
Corn
Other
504,751 775,534 53.6%
224,433 298,465 33.0%
15,411 28,208 83.0%
229,668 315,535 37.4%
17,933
62,353 247.7%
17,306
70,973 310.1%
(531,607) 357.1%
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