Post by
AlexDonovan on Mar 31, 2021 2:54pm
Not impressed.
With these kind of results, it's really hard to justify the company's valuation. I think future expectations need to be tempered a little bit.
Another thing to note is that a significant part (63%) of the production cost reduction was due to significant devaluation of the BRL, and nothing actually in the control of the company.
It's a good example of how any success for this company stems from macro trends like high fertilizer costs, and not from strategic decisions undertaken by leadership.
Comment by
Ciao on Mar 31, 2021 3:01pm
The call will be interesting as there should be pointed questions on Q4 performance and management compensation.