Brasil Foods Sees Revenue Rise30 July 2013
BRAZIL - Brazilian poultry, meat and food processor Brasil Foods saw the company’s net revenue rise by 10 per cent in the second quarter of the year to R$7.5 billion.
At the same time the company had profits for the quarter of R$1.9 billion – a rise of 26.1 per cent year-on-year.
The company puts the rise in revenue down to exports and news product launches, which compensated for the impact made by the agreement with the authority Cade (TCD) to divest itself of some of its lines following acquisitions.
The meat, poultry, dairy and other processed products saw volume sales reach 1.5 million tonnes, 6.1 per cent lower than in the same period in 2012 because of the TCD agreement.
Adjusted EBITDA reached R$909.9 million, 61 per cent above the second quarter of 2012, reaching 12.1 per cent compared to 8.3 per cent in the previous year due to the gradual recovery of exports, improving the operating margin of the business market, despite the effects of the transfer of assets.
EBITDA reached R$801.1 million in the quarter, 55.5 per cent above the second quarter of 2012, with an EBITDA margin of 10.6 per cent compared to 7.5 per cent.
Net income was R$208.4 million, compared to net income of R$6.4 million recorded in the second quarter of 2012because of the lower generation of results in that
The second quarter of 2013 net profit was also hit by the non-cash effect of the devaluation of the Real against the US dollar.
In the year to date, net revenue reached R$14.7 billion, an increase of 11.8 per cent, generated by the sales performance achieved in segments, despite
dispositions of the assets needed to meet the TCD.
The meat, dairy and other processed products and other products sectors had volume sales of 3.0 million tonnes, 5.6 per cent lower.
Gross profit reached R$3.6 billion, 26.2 per cent higher thanks to improved market performance and cooling cost pressure.
EBITDA reachedR $ 1.6 billion in the first half (up 57.1 per cent), with an EBITDA margin of 10.9 per cent compared to 7.7 per cent.
Net income was R$567.0 million, compared to net income of R$159.6 million in the first half of 2012, 255.3 per cent increase, reaching a net margin of 3.8 per cent compared to 1.2 per cent.
TheMeatSite News Desk