BrasilAgro

Overview

BrasilAgro is a Brazilian company specializing in the acquisition, development, operation, and selective sale of rural properties suitable for agricultural activities. The company operates through six segments: Real Estate, Grains, Sugarcane, Cattle Raising, Cotton, and Other. It is involved in the cultivation of soybean, corn, sugarcane, sesame, sorghum, bean, and cotton lint and seed, as well as pasture; and production and sale of beef calves after weaning. Additionally, BrasilAgro engages in exploration, import, and export of agricultural activities and inputs, cattle raising, livestock, investment properties; and forestry activities; purchases, sells, and rents real estate in rural and/or urban properties; and sale of the raw products. The company was incorporated in 2005 and is headquartered in São Paulo, Brazil. The company's investment strategy focuses on the acquisition and development of agricultural properties, aiming to enhance their value through operational improvements and strategic management. BrasilAgro's portfolio includes properties in Brazil, Paraguay, and Bolivia, encompassing a diverse range of agricultural activities. The company emphasizes a combination of operational cash flow from production with appreciation and rotation of land through selective divestments. In its most recent financial report for the fiscal year ended June 30, 2025, BrasilAgro reported a 5% increase in net revenue, reaching R$1.23 billion. The company's net income for the year was R$138 million, with an adjusted EBITDA of R$267.3 million. Revenue from agricultural products totaled R$877.4 million, up 14% from the previous year, mainly due to a 16% increase in soybean sales volume and higher sugarcane prices. Revenues from farmland sales amounted to R$241.3 million. Over the last five years, farmland sales have totaled approximately R$1.9 billion, averaging R$380.4 million per year. In June 2025, BrasilAgro completed the sale of the Preferência farm in Bahia for R$141.4 million, generating an accounting gain of R$65.9 million. The company's governance structure includes a board of directors chaired by Eduardo S. Elsztain, with André Guillaumon serving as the Chief Executive Officer. As of February 2025, Cresud, an Argentine-based company, held a 34.22% stake in BrasilAgro. The company's shares are listed on the B3 stock exchange under the ticker AGRO3 and on the New York Stock Exchange under the ticker LND. In October 2025, BrasilAgro held its Annual and Extraordinary General Shareholders' Meeting, where key decisions on financials and governance were made. The company's strategic focus continues to be on expanding its agricultural property portfolio and enhancing operational efficiency to drive growth and shareholder value.

Investment Focus

• Focus on agricultural properties
• Operational improvements
• Selective divestments