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Fernando Manzeppi<\/strong>, executive vice president of AgroGalaxy<\/p><\/div>\n AgriBrasilis – How did AgroGalaxy come about? Which companies are part of the group and in which areas of activity?<\/strong><\/p>\n Fernando Manzeppi<\/strong> –<\/strong> AgroGalaxy is a retail platform for agricultural inputs and services aimed at the Brazilian agribusiness, operating in the commercialization of agricultural inputs, seed processing, origination, storage and commercialization of grains, in addition to providing advisory and technological services.<\/p>\n Formed from acquisitions in different Brazilian regions, AgroGalaxy ended 2022 with 163 stores, including commercial points, 28 silos, grain storage unit of the seed processing unit, three own soybean seed plants and 10 toolings, located in 13 states, and covering over 1,000 cities.<\/p>\n The retail market has shown many consolidation movements. This is undoubtedly a trend for the coming years. Opening stores in new regions is important to increase area coverage and, consequently, market share.<\/p>\n According to a recent survey by the Ministry of Agriculture, Livestock and Food Supply (MAPA), of the 100 richest municipalities in Brazil in terms of agribusiness, 11 are located around the BR-163, with the city of Sorriso ranking first nationally. The data reveal that the region has billionaire economic potential and, as we have been mapping the surroundings of the BR-163 for some months now due to its relevance in the production of soybean and corn, we decided to expand our operations in the region.<\/p>\n Through our companies, we have been serving the State of Goi\u00e1s and the region of Tri\u00e2ngulo Mineiro for over 35 years. In fact, one of our investees \u2013 Rural Brasil \u2013 was born in the city of Jata\u00ed and has established itself as one of the largest resellers in the state of Goi\u00e1s. In recent months, we opened three more stores in the regions of Goi\u00e1s and Tri\u00e2ngulo Mineiro.<\/p>\n In March 2023, we will arrive in the BR 163 region, in the State of Mato Grosso. With this new coverage, we will be present throughout the Brazilian Cerrado and, in the coming months, we will open four stores in the municipalities of Sorriso, Sinop, Lucas do Rio Verde and Nova Mutum, where we already have a team of technical consultants.<\/p>\n AgriBrasilis – How does AgroGalaxy finance its working capital? In what ways has the increase in the base interest rate impacted financial costs?<\/strong><\/p>\n Fernando Manzeppi<\/strong> –<\/strong> The financial result was impacted by the sharp increase in the base interest rate between the third quarter of 2021 (3Q21) and the third quarter of 2022 (3Q22). We remain committed to projects aimed at reducing working capital, such as improving the operational network.<\/p>\n There was a relevant impact from the price increase compared to 3Q21, both in the pesticides and fertilizers segments, which, added to the advances in the efficiency of our operations, led to important operating gains: input revenue per CTV grew 38% and per customer + 69% in 3Q22, compared to the same period of the previous year.<\/p>\n Specialties, the segment with the highest gross margin, increased from 4.8% to 5.4% of the input mix. The order backlog also showed an important evolution: R$ 2.8 billion in September 2022, an increase of 92% compared to the same period of 2021.<\/p>\n The company’s performance is represented in the table below.<\/p>\n
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