"Despite the extreme drought, our Adjusted EBITDA was 15% higher YoY. It is in times like this, when we can clearly show and monetize the benefits of being diversified and focused on achieving efficiencies in our whole value chain.
In Brazil, we have put special focus on our farming activities throughout the past years and as a result, we are reaching incredible levels of TRS content per hectare. These innovations also reduce our costs per ton and improve our carbon footprint.
In Argentina and Uruguay, we have already started planting activities and we have good expectations for the new crops with favorable El Niño forecast. In our Dairy business, productivity is at record levels, reaching almost 38 liters per cow per day, on average; whereas in Rice, the decision we made last year to set foot in Uruguay by acquiring 4 rice mills strategically located, is already paying off. There is a lack of water in many rice producing countries of the world, and they are cutting their rice exports. This means that there will be a very clear need for South American rice."

Mariano Bosch, Co-founder and CEO August 18th, 2023