BRF's Second Quarter Results: Net Sales Surpasses R$ 7.5 billion
Adjusted EBITDA grows 61%
SAO PAULO, July 29, 2013
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
BRF invested R$ 390 million in Capex in the second quarter. Resources were
directed to growth, efficiency and support projects as well as biological
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
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
EPS* 0.24 0.01 2,400
(*)Consolidated earnings per share (in R$), excluding treasury shares.
SOURCE BRF S.A.
Contact: Ana Carolina Pires Bastos, BRF S.A. Investor Relations, +55 11
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