Marfrig, the largest global hamburger producer, posted a net loss of BRL 628 million in the fourth quarter of 2022, against a profit of BRL 650 million a year earlier, pressured by the negative performance in the company’s North America operation, according to the balance sheet disclosed in this Wednesday.
Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) for the period reached R$2.22 billion, down 46.8% year-on-year.
The Ebitda of the South America operation in the quarter more than doubled to R$529 million, an increase of 148% compared to the previous year, but which was not enough to offset the 81.1% drop in the North America Ebitda, which stood at R$ 751 million.
The North American unit saw lower margins caused by the cattle cycle and retreat in domestic demand amid higher interest rates, the operation’s CEO, Tim Klein, told journalists by videoconference.
Marfrig also consolidated the result of the food company BRF, whose operating cash generation was R$ 988 million. BRF, which became controlled by Marfrig last year, also reported a net loss in the balance sheet released the day before.
Source: CNN Brasil
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