Bioceres Crop Solutions Corp.

Hello everyone and welcome to today's BSRF Crop Solutions Fiscal Third Year Third Quarter 2022 Financial Results Conference Call. My name is Emma and I'll be coordinating your call today. If you would like to ask a question during the presentation, you may do so by pressing star followed by the number one on your telephone keypad. If you wish to withdraw your question, press star followed by the number two. When preparing to ask your question, please ensure that your line is unmuted locally. I'll now pass the call over to Rodrigo Kraus to begin. Please go ahead.

Thank you. Good morning, everyone, and thank you for joining us. Presenting during today's call will be Federico Trucco, our Chief Executive Officer, and Enrique Lopez Lecube, our Chief Financial Officer. Both will be available for the Q&A session. Before we proceed, I would like to make the following Safe Harbor statement. Today's call will contain forward-looking statements, and I refer you to the forward-looking statement section of today's earnings release and presentation, as well as in our recent filings with the SEC. We assume no obligation to update or revise any forward-looking statements to reflect new or changed events or circumstances. Please note that for comparison purposes and a better understanding of our company's underlying performance and in addition to discussing as reported results during our presentation today, we will discuss comparable results which exclude the impact of hyperinflation accounting in Argentina. Additional information in connection with the application of the rule IAS 29 can be found in our earnings report. Finally, this conference call is being webcast. The webcast link is available at the Biosphere's Crop Investor Relations site. At this time, I would like to turn the call over to our CEO, Federico Trucco. Thank you.

Thank you, Rodrigo, and thanks to everyone in the call for joining us today. Please turn to slide three for a quick overview of the quarter's main highlights. Our third fiscal quarter has been historically our weakest and less eventful quarter for various reasons, most importantly because it overlaps with the Latin American summer, not an important planting period for any one crop. The third quarter of fiscal year 2022, which we are currently reporting, deviates from this historical rule. And this is not only because of the great momentum we continue to observe in ourselves, with revenues increasing 72% on a compatible basis, but also, and significantly, due to the business development and regulatory milestones that were achieved during the period and subsequently thereafter. As we announced in March, We are pursuing a transformational merger with Marron Bioinnovations to become an undisputable leader in the ag-biological space. And recently, in April, we have received the long-awaited regulatory green light from China that allows us to move HP4 soil into its commercialization phase. With regards to the MBI merger, We were able to file F4 documents with the SEC this last Monday, and we continue to be on track for a first quarter closing in fiscal 2023. That is between July and September of this year. In terms of HP for SOI, we are today providing guidance for fiscal year 25, where we expect HP for SOI to contribute between 20 and 25 million dollars of incremental EBITDA. We expect this contribution only after two prior commercial seasons in Latin America, as we will describe in more detail in a few minutes. Outside from these important milestones, we're taking advantage of the current momentum in wheat interest to advance commercial agreements for HB4 wheat within Latin America and expand outside of the region. Among these, our wheat subsidiary Trigal Genetics has reached a preliminary understanding with SMW Seeds of Australia to acquire a majority of its wheat breeding program and assets. This agreement is reached at the time when a positive recommendation is obtained from regulators in Australia regarding the use of HB4 wheat in food and feed. We'll discuss these and other HB4 wheat-related developments throughout the presentation today. Please now turn to slide four for a deeper discussion on our current HP for Soy guidelines.