The position belongs now to Marcelo Abdo, former vice-president of the company; the company also announces positive balance for the cycle ended in March
To reach the strategic plan which aims at doubling in only five years the annual revenues of the company, currently superior to BRL 1.5 billion, according to the value calculated in the last fiscal year, Ourofino Agrociência starts a new leadership moment. From the 1st of June, Marcelo Abdo, who has been with the company from the moment of its foundation in 2010 and was the vice-president takes the position of CEO of the crop Protection company.
Abdo, is graduated in economics and has specialized in managerial competencies, finances with an MBA in agribusiness, taking over the position of the founding partner Norival Bonamichi. Bonamichi is now the new President of the Administration Council, a group composed by Jardel Massari, also a founding partner of Ourofino Agrociência. Some external councilors are part of the group and two representatives of the Japanese company Mitsui and ISK which have participation in the capital of the industry. Bonamichi will be responsible for two committees – Research, Development and Regulatory Affairs
By the side of the new CEO in the management of the company is Alessandro Flamini, former financial director and now CFO. As Abdo, Flamini has a long career in the 10-year-old company. Both take charge of their main leadership positions midst changes in the operation of the business. For the first time, Ourofino Agrociência will deliver its own patented product to the market, developed by ISK. The solution counts on a novel molecule in Brazil.
The company has a robust plan to launch 11 products for the next months of 2021. That will reinforce its participation in the main agricultural market of country which is soybeans. Currently, sugar cane represents the largest part of the market share of the company. Ourofino Agrociência intends to grow in both markets however, hoping to end the corporate exercise in March 2022 with two-digit participation in sugar cane and with expressive growth in soybean crops.
From 2019, when the partnerships with ISK and Mitsui were signed, the Brazilian Origin industry advances in market researches and in scientific researches, to become more competitive. The plan to double revenues is supported by this process which started years ago and by the purpose to reimagine Brazilian agriculture, delivering products which are adjusted to tropical climate and soil.
In five years, the expectation is to reach over BRL 3 billion in revenues. Besides, the company established a goal of BRL 5 billion for the next 10 years, which, according to Marcelo Abdo, must be accomplished with bold management which aims mainly at the development of people.
“We search for operational excellence and will invest strongly to increase the qualification of our 450 employees. From the operators to the leaders, all will have even more chances to grow and develop new skills. This process was already started and involves, mainly, the analysis of all of the Ourofino Agrociência team”, states the new CEO. Recently, the industry announced Luciana D’Elboux Lourenço as new director of the People Management area, and more changes in the team are coming soon.
Other investments may happen during this new cycle, however Abdo emphasizes that the capacity of production of the factory located in Uberaba (MG). “The factory is considered one of the best in the world by auditors, our industry has today the capacity to produce 120 mi kg.L/year. In the last cycle, the total produced was 55 million, a record, but also a number that shows our capacity of scaling up the production. Besides, the factory was planned for growth, so, literally, we may rip the roof apart, include new reactors, for instance, and expand current numbers”, explains.
Even with such possibility, however, the CEO assumes that it will not be needed for the accomplishment of the first goal relating to the revenues of the company. “We are in a very significant moment of the business. The launch of a patented product lifts us to the same position as other companies of the sector. The management of Ourofino Agrociência is also a strong point. In 10 years, our BDP – Bad debt Allowance – is only 0.18%, it is not a common number in the segment. Despite having gone through a challenging year, we have fulfilled all the goals estimated and we did not need to lay off one single person from our team”, reinforces Abdo.
Annual Results
This month, the company also announces the results relating to the financial cycle started in April 2020 and finished in March this year. The result is positive. With Revenues of BRL 1.521 billion Ourofino Agrociência registered EBITDA of BRL 197 million which corresponds to a margin of 13.8% and net profits of BRL 90 million.
In the corporate year that has come to an end, the company increased its investments in research and Development. From BRL 30.2 million in the cycle 19/20 to BRL 35,9 million in the last period
Get to know more about the new CEO and CFO of Ourofino Agrociência
Marcelo Damus Abdo
Graduated in Economics in PUC-SP, Post Graduated in Management Skills by FSA, Development of Management Competencies by FGV/SP, Finances by FIA/USP and MBA in Agribusiness by ESALQ/USP, Mr. Abdo joined the company in May 2010 as Financial Director, becoming the CFO in 2014 and Vice President in 2016. He has been part of the construction of Ourofino, contributing a lot for the achievements of the expressive results the company has had in such a short time, helping to transform the company in a reference in the segment regarding management., operational efficiency, quality of products and in billing.
Among his main achievements, Abdo leaded the execution of all the negotiations of M&A involving the Japanese investors Mitsui and ISK from the assembly of the internal team, hiring of the consultancy, bank, and attorneys for the support of the transaction. He was responsible for the dialog between the Japanese and the founding partners, enabling the execution of the agreement.
Alessandro Henrique Flamini
Graduated in Business Administration and Computer Systems Analysis in Universidade Paulista, Mr. Flamini also has executive formation in Business Strategies in Fundação Dom Cabral, in Negotiations and in conflict management in IBMEC and Accounting and Financing in INSPER.
Mr. Flamini joined Ourofino Agrociência in February 201 as Credit and Collection Manager as part of the team who started the activities of the company. In 2019, he became Financial Director. In 2019, he became financial director. In his new role, he will also lead the Legal and Information Technology areas.
His mission shall be to ensure the sustainability of the business of Ourofino Agrociência with financial strategies that allow us to anticipate decisions and surpass the enormous macroeconomic challenges that we already face and shall continue to face in the coming years.
