SAO PAULO, April 27, 2012 /PRNewswire/ -- BRF ended the
first quarter 2012 reporting net sales of R$
6.3 billion, a year-on-year increase of 5.3%.
Quarterly gross profits were R$ 1.3
billion, a decline of 13%, primarily reflecting the
challenges of the overseas market which saw a significant decline
in prices. Net income in the quarter was R$
153.2 million while EBITDA reached R$
532 million, corresponding to a margin of 8.4%, compared
with R$ 816 million in the preceding
year, same quarter, and a margin of 13.6%.
The Company's results reflected the challenging scenario in the
export market, as had already been observed in the fourth quarter
of 2011. Some key markets such as Japan and the Middle
East continued to suffer from a process of adjustment and
running down of levels of inventory and merchandise flows. Export
revenues in the quarter were R$ 2.4
billion, practically unchanged as compared with the same
quarter last year.
Conversely, the Company reported a good performance in sales to
the domestic/retail market amounting to R$ 3
billion, a growth of 11%, in spite of below-forecast
consumption in the Brazilian retail sector overall.
Similarly, the food service segment reported a good performance
posting an increase in net sales of 10.4%. During the period,
the Company launched 11 products between in natura and processed
lines for the major global networks, a savory snacks platform, a
grill line and rotisserie products.
The Company also achieved an investment grade risk rating
classification from all three principal world rating agencies. In
their assessment, the agencies emphasized competitive advantages
such as brand, distribution, corporate governance and financial
soundness, among others. Between the months of March and
April, Standard & Poor's and Moody's assigned an investment
grade rating to the Company while Fitch Ratings reiterated its
rating first issued a year ago.
1ST QUARTER
2012 NUMBERS
|
|
R$
million
|
|
|
1Q12
|
1Q11
|
Change
%
|
|
Net Sales
|
6,337
|
6,020
|
5%
|
|
Domestic Market
|
3,919
|
3,592
|
9%
|
|
Exports
|
2,418
|
2,428
|
(0)
|
|
Gross Profit
|
1,343
|
1,546
|
(13)
|
|
Gross Margin
|
21.2%
|
25.7%
|
-450
bps
|
|
EBIT
|
268
|
525
|
(49)
|
|
Net Income
|
153
|
383
|
(60)
|
|
Net Margin
|
2.4%
|
6.4%
|
-400
bps
|
|
EBITDA
|
532
|
816
|
(35%)
|
|
EBITDA Margin
|
8.4%
|
13.6%
|
-520
bps
|
|
Earnings per Share
(1)
|
0.18
|
0.44
|
(60)
|
|
(1)
Consolidated Earnings per Share (in R$), excluding treasury
stock
|
|
|
|
|
|
Sao Paulo, April 27, 2012
Leopoldo Viriato Saboya
Chief Financial, Administration and Investor Relations Officer
SOURCE BRF - Brasil Foods S.A.