BrasilAgro SEC Filings

BrasilAgro - Brazilian Agricultural Real Estate Co director Alejandro Gustavo Elsztain filed a Form 3 reporting his existing ownership in the company. He reported direct holdings of 527,071 Common Shares and 558,370 American Depositary Receipts (ADR). The filing lists holdings only and does not show any recent share purchases or sales.

BrasilAgro - Brazilian Agricultural Real Estate Co director Matias Ivan Gaivironsky has filed an initial Form 3, which is a statement of beneficial ownership for company insiders. The filing lists him as a director and shows no reported transactions in the company’s securities at the time of this report.

BrasilAgro updated its estimates for the 2025/2026 harvest, reporting a 2% reduction in total planted grain area versus the initial plan, mainly from lower soybean and second-crop bean acreage after strategic and budget adjustments.

The company still expects a positive crop year, projecting total production of 249,640 tons, 1% below the previous estimate but 17% above the 2024/25 harvest. Sugarcane output was 1.7 million tons in 2025 with 67.55 tons per hectare, and production for 2026 is estimated at 2.1 million tons with 79.51 tons per hectare. Cattle operations are projected at 11,637 head over 8,649 hectares, and updated production costs per hectare are provided by crop. All figures are hypothetical projections and not a performance promise.

Kopernik Global Investors, LLC and David B. Iben have reported a passive stake in BrasilAgro - Brazilian Agricultural Real Estate Co. They report beneficial ownership of 6,509,500 common shares, equal to 6.34% of BrasilAgro’s outstanding common shares, based on 102,683,444 shares outstanding.

Their clients hold all of the shares, with no shares held directly by the reporting persons. Voting power is shared for 6,183,700 shares and dispositive power is shared for 6,509,500 shares. The filers certify the position is held in the ordinary course of business and not for the purpose of changing or influencing control of BrasilAgro.

BrasilAgro (NYSE: LND) reported first‑quarter results for the period ended September 30, 2025. The company posted a net loss of R$64.3 million, reversing a profit in the year‑ago quarter. Net sales revenue was R$302.969 million and Net revenue was R$286.643 million, entirely from agricultural product sales, as there were no farm sales this quarter.

Adjusted EBITDA reached R$64.349 million with a 21% margin. Results were weighed by lower sugarcane sales volume (down 19%) and a negative financial result tied to higher debt costs and present value adjustments on farm‑sale receivables amid a stronger real and lower soybean prices, which management characterizes as non‑recurring and non‑cash effects.

Operationally, the company targets producing 20% more in grains and cotton on the same planted area, with 34% of soybean area sown and 64% of Mato Grosso within the optimal window. The sugarcane harvest reached 1.6 million tons by September with revised projections of 1.7 million tons. The Annual Shareholders’ Meeting approved R$75.0 million in dividends (R$0.75 per share), noted as a 9.6% yield.

BrasilAgro (LND) updated its 2025/26 harvest estimates, noting a favorable outlook for crop mix and planted area, while cautioning that inconsistent rainfall could affect planting schedules and the second harvest.

Sugarcane is now projected at about 1.7 million tons with TCH of 67.78 for 2025. The company also adjusted cattle raising after the sale of Fazenda Preferência, with estimated 25/26 figures showing 8,649 hectares, 11,567 heads, and 1,909,570 kg of meat production. Planted area across crops remains broadly stable, near 173 thousand hectares.

For grains, estimated 25/26 production includes soybeans of 252,022 tons, corn of 64,872 tons, and second-crop corn of 99,230 tons. Production costs per hectare for 25/26 are estimated at R$5,247 for soybeans and R$4,698 for corn, with cotton at R$12,303 and sugarcane at R$11,735. The company emphasized these are hypothetical estimates and not a performance promise.

BrasilAgro – Companhia Brasileira de Propriedades Agrícolas (LND) filed its annual report on Form 20‑F for the fiscal year ended June 30, 2025. The company’s ADSs, each representing one ordinary share, trade on the NYSE under LND. Financial statements are prepared under IFRS, with the Brazilian real as functional currency. Dividends, when paid in cash, are in reais, and conversion exposes ADS holders to exchange-rate effects; the selling rate was R$5.4571 per US$1.00 on June 30, 2025 and R$5.3186 on September 30, 2025.

The filing highlights key risks typical of Brazilian agribusiness: commodity and FX volatility, seasonality, logistics constraints, and environmental compliance. Customer concentration increased: in the year ended June 30, 2025, three customers accounted for 52.9% of revenue; two customers made up 50% of grain/cotton revenue and one customer 64% of sugarcane revenue. The report notes legal limits on foreign ownership of rural land, potential impacts from tariffs and geopolitics, reliance on third‑party contractors, and continued use of hedging. The company is an emerging growth company and may use certain reporting exemptions.

BrasilAgro (LND) reported outcomes of its Annual and Extraordinary Shareholders’ Meetings. Shareholders approved the financial statements for the fiscal year ended June 30, 2025 and the allocation of net income of BRL 138,019,098.80.

The Company declared total dividends of BRL 75,000,000.00, equal to BRL 0.75289521 per share as of June 30, 2025, comprising mandatory dividends of BRL 32,779,535.97 and additional dividends of BRL 42,220,464.04. Dividends are payable within 60 days to holders of record at the end of trading on the meeting date, with shares trading ex-dividend from October 23, 2025.

Other allocations included a legal reserve of BRL 6,900,954.94 and BRL 56,118,143.86 to an Investment and Expansion Reserve. Governance actions set the Board of Directors at nine members and elected directors and fiscal council members. Compensation approvals included BRL 386,987.00 for the Fiscal Council and a global management limit of BRL 17,896,938.00. Bylaws were amended, confirming capital of BRL 1,587,987,665.07 divided into 102,683,444 common shares and updating takeover-related provisions.