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    Isabella Simonato Alonso

    Managing Director at Bank of America Merrill Lynch

    Isabella Simonato Alonso is a Managing Director at Bank of America Merrill Lynch, specializing in Latin American equity research with a primary focus on companies in the consumer and agribusiness sectors. She regularly covers and analyzes leading firms such as Ambev, Adecoagro, BRF S.A., and Sociedad Química y Minera de Chile (SQM), having issued notable calls including recent ratings and price targets for SQM. According to third-party data platforms, her performance includes an average return of approximately -44.97% and a TipRanks analyst ranking near the bottom quartile, with eight published ratings and a focus on large-cap equities. Her career at Bank of America Merrill Lynch spans at least a decade, with recognized achievements such as helping her team earn sector-topping accolades in Institutional Investor's Latin America Research Team surveys; prior roles or earlier experience are not publicly listed. Her professional credentials likely include FINRA securities licenses typical for her role, although specific registration details are not disclosed in public profiles.

    Isabella Simonato Alonso's questions to CHEMICAL & MINING CO OF CHILE (SQM) leadership

    Isabella Simonato Alonso's questions to CHEMICAL & MINING CO OF CHILE (SQM) leadership • Q2 2025

    Question

    Isabella Simonato Alonso from Bank of America Merrill Lynch asked about the iodine market balance, focusing on the supply outlook and potential bottlenecks for new capacity. She also sought an update on the expected timing for finalizing the Codelco partnership.

    Answer

    Pablo Altimiras, CEO of the Iodine division, noted that SQM is actively adding supply and identified environmental restrictions and planning as key industry bottlenecks. CEO Ricardo Ramos confirmed they are on track to finalize the Codelco deal, stating they are moving fast and expect completion in September or October of the current year.

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    Isabella Simonato Alonso's questions to CHEMICAL & MINING CO OF CHILE (SQM) leadership • Q2 2025

    Question

    Isabella Simonato Alonso from Bank of America Merrill Lynch asked about the iodine supply outlook for the next few years, potential bottlenecks for new supply, and the current timing for the finalization of the Codelco deal.

    Answer

    Pablo Altimiras, CEO of the Iodine Division, noted that SQM is actively increasing supply, but the primary industry bottleneck for new capacity is planning around environmental restrictions. CEO Ricardo Ramos confirmed they are on schedule to finalize the Codelco deal in September or October of the current year.

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    Isabella Simonato Alonso's questions to JBS (JBS) leadership

    Isabella Simonato Alonso's questions to JBS (JBS) leadership • Q2 2025

    Question

    Isabella Simonato Alonso of Bank of America Merrill Lynch pointed out the large difference between IFRS and U.S. GAAP margins for U.S. Pork and asked if accounting impacts, like mark-to-market on inventory, meant the underlying operational margin was higher than the reported 6.5% U.S. GAAP figure.

    Answer

    Wesley Batista Filho, CEO of JBS Foods USA, clarified that the business is managed on a U.S. GAAP basis day-to-day. He reiterated that the expected margin improvement in Q3 is based on operational normalization from trade disruptions, not on accounting differences between IFRS and U.S. GAAP.

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    Isabella Simonato Alonso's questions to AMBEV (ABEV) leadership

    Isabella Simonato Alonso's questions to AMBEV (ABEV) leadership • Q2 2025

    Question

    Isabella Simonato Alonso inquired about the significant Q2 volume decline in Brazil, questioning the factors beyond adverse weather and seeking the basis for confidence in a second-half recovery. She also asked for more details on cost-control initiatives and whether further efficiencies could be realized.

    Answer

    CEO Carlos Eduardo Klutzenschell Lisboa attributed 70% of the industry's volume decline to severe weather, particularly in June, with the remainder due to inflation impacting disposable income. He noted that July trends were already showing significant improvement. CFO Guilherme Fleury de Figueiredo Ferraz Parolari added that cost management focuses on optimizing controllable areas like SKU rationalization and distribution expenses to protect margins while preserving commercial investments.

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