BRF reverses profit and has a net loss of R$ 271 million in the 3rd quarter

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A BRF registered a net loss in continuing operations of R$ 271 million in the third quarter of this year. The result reverts a profit of R$ 219 million verified in the same period of 2020. The net revenue from the company’s sales in the period totaled R$ 12.390 billion, an increase of 24.6% over the R$ 9.943 billion in the third quarter of 2020.

According to a press release issued by the company, the net loss is mainly due to the financial result, “given the update of the fair value of the put option related to the business combination of the ‘put option’ Banvit”.

O Ebitda (earnings before interest, taxes, depreciation and amortization) adjusted by BRF in the third quarter of the year reached BRL 1.367 billion, an increase of 3.9% over the BRL 1.317 billion in the same period of the previous year. BRF’s adjusted Ebitda margin was 11.0%, compared to 13.2% in the same quarter last year.

The company ended the quarter with an increase of 11.9% in the leverage ratio compared to the second quarter of 2021, going from 2.73 times to 3.06 times.

A debt The company’s net income on September 30 was BRL 16,682 billion, an increase of 14.6% over the BRL 14.557 billion in the same period in 2020.

In the third quarter of the year, BRF sold 1.168 million tonnes of products, an increase of 5.1% compared to 1.112 million tonnes a year earlier.

The company also reported a cash consumption of R$ 308 million in the period, compared to a generation of R$ 987 million in the third quarter of the previous year.

In the Brazil segment, BRF had net operating revenue of BRL 6.392 billion in the quarter ended September 30, 2021, an increase of 20.0% compared to the same period last year. The company highlighted that it passed on prices “to rebalance the industry’s margins against a global and unprecedented inflationary scenario.”

In a statement, the company said that inflation, a drop in consumer confidence and the economic situation could still affect consumption; but he recalled that the per capita consumption of chicken and pork meat has been rising, while that of beef is falling.

In the international segment, net revenue was R$ 5.449 billion, an increase of 26.4% over the period from July to September 2020. BRF highlighted that China e Japan added volumes, and that pork production in China fluctuated during the year mainly due to new variants of African swine fever.

As for halal distribution, the company emphasized the growth in the share of processed products and value-added products.

Reference: CNN Brasil

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