Caio Araujo's questions to AGRO3.SA leadership • Q3 2024
Question
Caio Araujo of BTG Pactual questioned if the company's current debt level would be sustained in the future and what the potential impact on dividend distributions might be.
Answer
Executives André Guillaumon and Gustavo Lopez addressed the debt structure. Guillaumon emphasized that the company's net debt is negative when accounting for receivables from farm sales, including an upcoming BRL 210 million from the Chaparral transaction. Lopez added that the capital structure is manageable, with leverage targets well within covenants, and that debt is used strategically for short-term working capital and long-term, EBITDA-accretive projects like irrigation. They conveyed that the healthy debt position is essential for their real estate strategy and is not expected to compromise shareholder returns.