BRF's Second Quarter Results: Net Sales Surpasses R$ 7.5 billion
Adjusted EBITDA grows 61%
SAO PAULO, July 29, 2013 /PRNewswire/ -- BRF's second quarter 2013 net sales were R$ 7.5 billion, a growth of 10% compared with the same period in 2012. Adjusted EBITDA reached R$ 910 million and adjusted EBITDA margin of 12.1%, a 61% increase. Net income was R$ 208 million on a net margin of 2.8% against 0.1% in 2Q12.
Among the key factors contributing to this positive performance were the gradual improvement in export turnover with restored equilibrium between international supply and demand; devaluation of the Real against the US dollar; an improved showing in both food service and dairy product segments and the launch of more than 70 new products spread across different business areas.
BRF invested R$ 390 million in Capex in the second quarter. Resources were directed to growth, efficiency and support projects as well as biological assets.
Sales to the domestic market amounted to R$ 3.1 billion (this amount excludes sales of the Food Service and Dairy Products segments) in the second quarter. This represented an increase of 4.3% compared with the equal period in 2012. Net operating profit amounted to R$ 225.4 million, and an advance of 24% on a margin of 7.3% against 6.1% in the second quarter of 2012. Overseas business performance was driven by a steady recovery in the leading international markets, foreign exchange devaluation and a reduction in the principal raw material costs. In 2Q13, exports were worth R$ 3.4 billion, an increase of 19.4% compared with the same quarter of 2012, while volumes were up 4.9%. Sales revenue from the dairy product business amounted to R$ 704.8 million, 0.4% higher than the same period in 2012 in spite of a strategic reduction of 18.8% in certain operations, concentrated around a cut in output of UHT milk volume. The food services area in the quarter reported net sales of R$ 360.2 million, a growth of 2% in relation to fiscal year 2012.
2nd QUARTER RESULTS
R$ million
2013 |
2012 |
Change % |
|
Net Sales |
7,525 |
6,842 |
10 |
Domestic Market |
4,101 |
3,970 |
3 |
Exports |
3,424 |
2,872 |
19 |
Gross Profit |
1,877 |
1,489 |
26 |
Gross Margin |
24.90% |
21.80% |
310 bps |
EBIT |
503 |
281 |
79 |
Net Income |
208 |
6 |
3.163 |
Net Margin |
2.80% |
0.10% |
270 bps |
EBITDA |
801 |
515 |
55 |
EBITDA Margin |
10.60% |
7.50% |
310 bps |
Adjusted EBITDA |
910 |
565 |
61 |
Adjusted EBITDA |
12.10% |
8.30% |
380 bps |
Margin |
|||
EPS* |
0.24 |
0.01 |
2,400 |
(*)Consolidated earnings per share (in R$), excluding treasury shares.
SOURCE BRF S.A.
Share this article