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Segment information

12 Months Ended

Jun. 30, 2019

18.

Segment information

Segment information is presented consistently with the internal report provided by the chief operating decision maker that is the Executive Board, responsible for allocating resources, assessing the performance of the operating segments, and for making the Company's strategic decisions.

Segment information is based on information used by BrasilAgro executive board to assess the performance of the operating segments and to make decisions on the investment of funds. The Company has six segments, namely: (i) real estate, (ii) grains, (iii) sugarcane, (iv) cattle raising, (v) cotton and (vi) other. The operating assets related to these segments are located only in Brazil. The main activity of the grains segment is the production and sale of soybean and corn.

The Sugarcane segment includes the sale of the raw product.

The Real Estate segment presents the P&L from operations carried out in the Company's subsidiaries.

The cattle raising segment consists of producing and selling beef calves after weaning, which characterizes the activity as breeding and fattening of cattle.

The cotton segment is engaged primarily in the production and sale of cotton lint and seed.

The selected P&L, liabilities and assets information by segment, which were measured in accordance with the same accounting practices used in the preparation of the financial statements, are as follows:

	2019
								Agricultural activity
		Total			Real estate			Grains			Cotton		Sugarcane			Cattle raising			Other			Corporate
Net revenue			357,910			8,520			171,735			-		160,476			16,795			384			-
Gain from sale of farm			142,812			142,812			-			-		-			-			-			-
Gain (loss) on fair value of biological assets and agricultural products (Note 9)			56,718			-			18,714			2,619		34,511			1,526			(652	)		-
Reversal of provision for agricultural products after harvest			(2,040	)		-			(2,040	)		-		-			-			-			-
Cost of sales			(319,214	)		(1,788	)		(156,656	)		-		(142,303	)		(17,118	)		(1,349	)		-
Gross profit			236,186			149,544			31,753			2,619		52,684			1,203			(1,617	)		-
Operating income (expenses)
Selling expenses			(10,536	)		(35	)		(10,885	)		-		-			(201	)		585			-
General and administrative expenses			(38,812	)		-			-			-		-			-			-			(38,812	)
Other operating income			(1,064	)		-			-			-		-			-			-			(1,064	)
Equity pickup			1,102			-			-			-		-			-			-			1,102
Operating income (loss)			186,876			149,509			20,868			2,619		52,684			1,002			(1,032	)		(38,774	)
Net financial income
Financial income			310,538			93,460			13,699			-		79,232			-			11,549			112,598
Financial expenses			(297,616	)		(116,502	)		(9,566	)		-		(44,948	)		-			-			(126,600	)
Net income (loss) before taxes			199,798			126,467			25,001			2,619		86,968			1,002			10,517			(52,776	)
Income and social contribution taxes			(22,719	)		(7,724	)		(8,500	)		-		(29,569	)		(341	)		(3,576	)		26,991
Net income (loss) for the year			177,079			118,743			16,501			2,619		57,399			661			6,941			(25,785	)
Total assets			1,357,614			777,664			156,420			12,955		157,920			39,135			26,733			186,787
Total liabilities			477,081			-			85,486			-		43,482			-			-			348,113

	2018
							Agricultural activity
	Total			Real Estate			Grains			Cotton		Sugarcane			Cattle raising			Other			Corporate
Net revenue		244,278			5,133			97,180			-		138,143			4,081			(259	)		-
Gain from sale of farm		39,817			39,817			-			-		-			-			-			-
Gain (loss) on fair value of biological assets and agricultural products (Note 9)		99,083			-			55,584			-		43,952			239			(692	)		-
Reversal of provision for agricultural products after harvest		883			-			905			-		-			-			(22	)		-
Cost of sales		(228,319	)		-			(89,633	)		-		(134,028	)		(4,378	)		(280	)		-
Gross profit		155,742			44,950			64,036			-		48,067			(58	)		(1,253	)		-
Operating income (expenses)
Selling expenses		(10,087	)		-			(9,730	)		-		-			(383	)		26			-
General and administrative expenses		(34,945	)		-			-			-		-			-			-			(34,945	)
Other operating income		35,432			-			-			-		-			-			-			35,432
Equity pickup		14,671			-			-			-		-			-			-			14,671
Operating income (loss)		160,813			44,950			54,306			-		48,067			(441	)		(1,227	)		15,158
Net financial income
Financial income		129,323			20,843			12,388			-		18,208			-			18,501			59,383
Financial expenses		(137,879	)		(5,158	)		(6,606	)		-		(20,597	)		-			(18,261	)		(87,257	)
Net income (loss) before taxes		152,257			60,635			60,088			-		45,678			(441	)		(987	)		(12,716	)
Income and social contribution taxes		(25,919	)		(20,616	)		(20,430	)		-		(15,531	)		150			335			30,173
Net income (loss) for the year		126,338			40,019			39,658			-		30,147			(291	)		(652	)		17,457
Total assets		1,179,599			624,417			78,070			-		129,787			35,438			14,073			297,814
Total liabilities		423,735			-			73,610			-		52,310			-			-			297,815

The balance sheet accounts are mainly represented by "Trade accounts receivables", "Biological assets", "Inventories of agricultural products" and "Investment properties".

Information on concentration of clients

In the year ended June 30, 2019, the Company has four clients individually representing 10% or more of the revenues from the sugarcane or grains segments, representing 85% of the total sales of the Company. Of these four clients, two account for 100% of the revenues from the sugarcane segment and two account for 71% of the revenues from the grains segment.

In the year ended June 30, 2018, the Company has five clients individually representing 10% or more of the revenues from the sugarcane or grains segments, totaling 83.2% of the total sales of the Company. Of these five clients, two account for 100% of the revenues from the sugarcane segment and three account for 55.3% of the revenues from the grains segment.

Geographic information

Revenues and noncurrent assets, excluding financial instruments, income tax and social contribution, deferred assets, post-employment benefits and rights arising from insurance contracts of the Consolidated, are distributed as follows:

	Brazil				Paraguay
	2019		2018		2019		2018
Net income		329,071		218,224		28,839		26,054
Non-current		516,768		646,528		188,785		182,628