1. Results
08/15/2011

2. SECTOR OF ACTIVIITY
FOOD ENERGY
COTTON BIODIESEL
SOYA VEGETAL OIL
CORN ETHANOL

3. BRAZILIAN BIODIESEL MARKET
2005 – 2007 1st Sem/08 Jul/08 – Jun/09 Jul/09 – Dec/09 2010 on
Blend: up to 2% Blend: min. 2% Blend: min. 3% Blend: min. 4% Blend: min. 5%
• The biodiesel industry operates in a
fully regulated market (quartely Brazillian Biodiesel
auctions coordinated by ANP).
Production (‘000 m³)
• The sector works with idleness at the 1 2005
rate of 60%.
69 2006
• The biodiesel sector remains
dependent on a new regulatory 190% 402 2007
milistone that signals an increase in the
percentage of biodiesel blend in diesel. 38% 1167 2008
• Social Fuel Stamp.
49% 1,608 2009
•
2,397 2010
Variable cost industry (90% of the cost
come from soybean oil and methanol).
• B5, 3 years before the schedule.
Source: ANP.
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4. B100 AND VEGETABLE OIL PRICES – 2011 VERSUS
2010

5. ALIMENTOS - FUNDAMENTOS DO SETOR
Crescimento econômico Risco e segurança
e populacional
Renda disponível Energia limpa e
biocombustíveis
Próximo “bilhão” Escassez de água
de consumidores
Urbanização Escassez de terras
aráveis
Hábitos alimentares Profissionalização
saudáveis do agribusiness
Aumento do mercado de
commodities agrícolas

6. OCDE
PROJEÇÃO DA PRODUÇÃO DE ALIMENTOS ATÉ 2020
MAPA DA POPULAÇÃO SUBNUTRIDA (em % da pop total)
10 /
15%
4% 26%
10 /
15%
26%
40%
7%
Legenda: <5 15 25 35 50 > No data
% de aumento da produção
A OCDE projeta que o mundo deverá aumentar em 20% a produção de alimentos para atender o crescimento
demanda até 2020. O Brasil é o país que mais ampliará a produção, com previsão de aumento
de 40% no período
(OCDE, 06.15.2010)

7. LAND PORTFOLIO
2010/11 Harvest
Farm State Status Own Leased Under control Total Planting
Dom Pedro BA operational - 16,966 16,966 15,921
Amizade BA operational - 11,298 11,298 9,898
Sucesso BA non operational 12,682 - 12,682 -
Bandeira CE non operational 3,499 - 3,499 -
São Vicente CE/PI non operational 9,920 - 9,920 -
Catalão GO operational - 5,975 5,975 3,877
Bartolomeu GO operational - 8,486 8,486 8,410
São José II MG non operational 2,454 - 2,454 -
Guapirama MT operational - 9,001 9,001 10,523
São José MT operational 17,734 19,559 37,293 34,464
Violeto PI non operational 7,681 - 7,681 -
Total 53,970 71,285 125,255 83,093

8. FARMING CALENDAR
CROP SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
SOYA
(MT)
Planting Treatment Harvesting Planting Treatment
SOYA
(BA)
Planting Treatment Harvesting Planting Treat..
SOYA
(GO)
Planting Treatment Harvesting Planting T.
COTTON
(MT)
Planting Treatment Harvesting Plant.
COTTON
(BA)
Planting Treatment Harvesting Planting T.
CORN
(MT)
Planting Treatment Harvesting
CORN
(BA)
Planting Treatment Harvesting Planting Treatment

9. Results

10. CONSOLIDATED SYNTHETIC RESULTS
Book Values
Description
2Q11 VA (%) 1Q11 VA (%) HA (%)
Gross Revenue 220,665 110.5% 227,850 111.1% -3.2%
Net Revenue 199,692 100.0% 205,004 100.0% -2.6%
Biological Asset Fair Value Variation 8,897 4.5% 13,216 6.4% -32.7%
COGS (207,896) -104.1% (195,663) -95.4% 6.3%
Gross Profit (Loss) 693 0.3% 22,557 11.0% -96.9%
Operating Expenses (17,126) -8.6% (18,314) -8.9% -6.5%
General and Administrative (21,911) -11.0% (19,408) -9.5% 12.9%
Taxes (2,045) -1.0% (383) -0.2% 434.1%
Others operating 6,830 3.4% 1,477 0.7% 362.4%
Operating Income Expenses (16,433) -8.2% 4,243 2.1% -487.3%
Financial Results 17,013 8.5% 1,263 0.6% 1247.0%
Results before Income and Social Contribution Taxes 580 0.3% 5,506 2.7% -89.5%
Income and Social Contribution Taxes 2,278 0.0% (6,371) 0.0% 0.0%
Net Income (Loss) of the Period 2,858 1.4% (865) -0.4% -
EBITDA (5,991) -3.0% 11,944 5.8% -
ADJUSTED EBITDA* 1,134 0.6% 16,093 7.9% -93.0%
(*) Remark: The fair value of the stocks, amortization of pf the premium of the investor and reclassification
of operacional exchange rate variation are not considered

11. GROSS REVENUE, NET REVENUE
AND FINANCIAL INCOME
Gross Revenue Net Revenue
250,000 250,000
200,000 62,000 200,000
77,829 60,364
71,818
150,000 150,000
100,000 100,000
165,508
142,836 144,640
50,000 127,873
50,000
0 0
1Q11 2Q11 1Q11 2Q11
Food Renewable Energy
Food Renewable Energy

12. COGS
COGS 2Q11
9%
7% Biodiesel
Soybean
47%
14% Soybean Meal
Performance Soybean
Others
23%

13. CASH / NET DEBT
06/30/2011 03/31/2011
Debt (in R$ thousands)
Maeda* Brasil Ecodiesel Total Maeda* Brasil Ecodiesel Total
Short Term (117,449) (15,777) (133,226) (139,607) (16,051) (155,658)
Long Term (83,028) (31,865) (114,893) (59,144) (35,635) (94,779)
(=) Total indebtedness (200,477) (47,642) (248,119) (198,751) (51,686) (250,437)
Avaliability 2,708 56,711 59,419 5,759 78,949 84,708
(=) Net Cash / Net Debt (197,769) 9,069 (188,700) (192,992) 27,263 (165,729)
Receivable Update - sales of asset 104,688 104,688 85,027 85,027
(=) Net Cash / Net Debt Adjusted (93,081) 9,069 (84,012) (107,965) 27,263 (80,702)
* Holding disregarding the consolidated data of Tropical Bioenergy enterprises, Jaborandi Agricola and Jaborandi Propriedades.

14. RESULTS FOR THE PERIOD
2Q11 2Q10
Net Income (Loss) 2,858 (865)
Financial Income (17,013) (1,263)
Income and Social Contribution TaxesIR e CSLL (2,278) 6,372
Depreciation and Amortization 10,442 7,700
EBITDA (5,991) 11,944
Share-based Payment 3,278 2,637
Maeda Goodwill Adjustment - PPA 1,512 1,512
Exchange variation reclassified 2,335 -
Adjusted EBITDA 1,134 16,093

15. ECOD3 PRICE EVOLUTION

16. MARKET VALUE AND SHAREHOLDERS POSITION
Market Value
(June 30, 2011 ) Shareholders Position (%)
R$ 759 millions 11%
8%
9%
72%
Number of Shares
1.084.190.282
Vila Rica I Fundo de Investimento Helio Seibel
Bonsucex Holding Others
Number of Shareholders
23.135 16

17. INDEXES
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18. Investor Relations
Phone: 55 11 3137-3114
ri@brasilecodiesel.com.br
www.brasilecodiesel.com.br
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