Sales have risen to US$ 2,636 million, 1.5% more than in the first three months of 2023, as explained by the company in its results report.
The Brazilian meat company BRF recorded a net profit of US$ 117 million during the first quarter of this year compared to the 'red numbers' of US$ 201.8 million in the same period of the previous year.
Sales have risen to US$ 2,636 million, 1.5% more than in the first three months of 2023, as explained by the company in its results report.
This increase has occurred in accordance with the increase in the average sales price, as well as the recovery of the vegetable protein market, after the scenario of global excess supply that put pressure on prices during most of 2023.
By markets, the turnover in Brazil, its domestic market, has fallen 4% year-on-year, to US$ 1,214 million. In the international market, BRF's turnover has grown by 5.5%.
For their part, the costs associated with sales have fallen 11.7% compared to the first three months of the previous year, remaining at US$ 2,000 million.
The gross operating result (Ebitda) has been US$ 413.8 million, a figure 247.5% higher than that registered until March 2023. The Ebitda margin has increased by 11.1 percentage points, to 15 .7%.
The operating result has also experienced a strong year-on-year increase, multiplying by more than six compared to the first quarter of the previous year, up to US$ 241 million.
Finally, BRF had a net debt of US$ 1,776 million at the end of March, a figure 4.8% lower than what it recorded at the end of 2023.
The CEO of BRF, Miguel Gularte, has highlighted that the company is already performing "above historical levels" in some of the main indicators.
SHARE REPURCHASE PROGRAM
On the other hand, BRF starts this Wednesday, May 8, a share repurchase program through which it will be able to acquire a maximum of 14 million of its own securities, with the objective of maximizing the generation of value for the shareholder, promoting the efficient allocation of the available resources and the capital structure.
This program will be extended for a period of 18 months, which will begin counting from this Wednesday and will last until October 7, 2025. The board of directors will be responsible for defining the dates on which the buybacks will be effectively carried out.
BRF may use the shares to be acquired to remain in treasury, and subsequent sale or cancellation, as well as to comply with the obligations and commitments assumed by the company under the Stock Option Plan.
The company, represented by the board of directors, has clarified that the acquisition of its own shares will not affect its shareholder composition or its financial health.
