CSAN - Cosan S.A. (CSAN) Q1 2024 Earnings Call Transcript

2024-05-29 13:29:04 ET

Cosan S.A. (CSAN)

Q1 2024 Results Conference Call

May 29, 2024 10:00 AM ET

Company Participants

Rodrigo Araujo - CFO

Ana Luisa Perina - Head of IR

Conference Call Participants

Luiz Carvalho - UBS

Ana Luísa Perina - Head of IR

Isabella Simonato - Bank of America

Gabriel Barra - Citi

Regis Cardoso - XP

Vicente Falanga - Bradesco BBI

Bruno Montanari - Morgan Stanley

Thiago Duarte - BTG Pactual

Presentation

Operator

Good morning, everyone. Thank you for waiting. And welcome to Cosan's First Quarter Earnings Release Video Conference Call. Simultaneous translation will be available during the session by clicking on the interpretation button at the bottom of the screen and choosing your preferred language, Portuguese or English. Those listening to the video conference in English, you have the option to mute the original audio in Portuguese by clicking on mute original audio. The video conference is being recorded and will be available on the company's IR Web site at cosan.com.br. You can also download the presentation through the chat icon, also in English. During the company's presentation, all participants will be on a listen only mode. The question and answer session will start after the presentation. Please note that the information contained in this presentation and in the statements that may be made during the conference call regarding Cosan's business prospects, projections and operating and financial goals constitute the beliefs and assumptions of the company's management as well as information currently available. Forward-looking considerations are not a guarantee of performance. They involve risks, uncertainties and assumptions as they refer to future events and therefore, depend on circumstances that may or may not occur. Investors should know that overall economic conditions, market conditions and other operating factors may affect Cosan's future performance and lead to results that differ materially from those expressed in such forward-looking statements. I will now turn it over to Mr. Rodrigo Araujo.

Rodrigo Araujo

Good morning, everyone. Welcome to our earnings call for the first quarter of 2024. I'm Rodrigo Araujo, CFO of Cosan. And I'm here to go over the main highlights of the quarter and some details in terms of strategy and management priorities. So starting with our priorities for the year. As we've been constantly reinforcing, we were highly focused on discipline and capital allocation and being of course mindful of our leverage at the HoldCo level and the OpCos and also, with the interest, the high interest rate environment that makes our capital allocation decisions and discipline even more important. So we're focused on liability management and portfolio recycling throughout the portfolio. We've been, of course, highly focused on execution in our portfolio to make sure that we maintain our track record in terms of execution. We delivered what's been promised in terms of the different guidances and plans of the operating companies. Of course, making sure that we're always enjoying benefits of the talent pipeline of high quality people that we have and maintaining continuously high safety standards in the group. And finally, we're focused also on supporting and making sure that we execute the contracted growth that's coming from the operational companies. So the structural projects of Lucas do Rio Verde to connect the Brazilian Midwest and agriculture area in Rumo, the second generation ethanol plants in Raizen and the natural gas regasification terminal in Compass, for example....

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