13/11/2024 10h21

• Revenue reaches R$15.5 billion, the best historical result for the period, growth of 12.4% compared to 3Q23 and totals R$44 billion in the last 9 months • EBITDA reaches ~R$3 billion in the quarter, a record for the period

São Paulo, November 13, 2024 - In another quarter of consistent advances, BRF, one of the largest food companies in the world and owner of the Sadia, Perdigão, Qualy and Banvit brands, presents one of the best results in the company's entire history. BRF recorded revenue growth of 12.4% compared to the same period in 2023, totaling R$15.5 billion, the best result in history for the period. EBITDA was ~R$3.0 billion and the margin was 19.1%, the best level for a third quarter. The net profit presented was R$1.1 billion, another record for the period. The strong generation of free cash, which reached R$1.8 billion, allowed the reduction of net debt by 34% (versus 3Q23), reaching the lowest historical leverage (0.71x).

“In this quarter, BRF reported operational advances in all aspects and a consistent sales performance in all markets in which it operates. The growing numbers were driven by gains in efficiency, expansion of export destinations and the growth in the share of processed products in sales. This performance confirms that we are on the right path with an increasingly stronger and more sustainable company”, says Miguel Gularte, CEO of BRF.

The company continues to advance in competitiveness based on its BRF+ efficiency program, which captured an additional R$330 million in operational indicators this quarter. In the year to date, the program's total capture was R$1.1 billion.

In Brazil, the Company reported EBITDA of R$1.2 billion, with a margin of 16.6%. In revenue, growth was 10.4% compared to the same period in 2023. The performance was sustained by the sequential increase in sales, with emphasis on processed foods, the improvement in commercial execution and the continued investment in the company's brands. This scenario contributed to market share gains in the main categories, reaching 40% in processed products. Also noteworthy is the anticipation of the start of the Commemorative campaign, crucial to strengthening BRF's leadership in the category and ensuring an increasing presence at Brazilian consumers' Christmas supper. 

In the International market, BRF also recorded another quarter of record numbers, with historic EBITDA of R$1.6 billion and a margin of 22.2%. Revenue grew 22% compared to 3Q23. The results were driven by the continuity of the market diversification strategy, the increase in sales of value-added products, in addition to the recovery in prices for pork cuts. In 2024, the company will have 70 new export licenses.

Also noteworthy are two strategic steps announced by the company in October: the announcement of investment in one of the main chicken producers in Saudi Arabia in search of consolidating leadership in the Middle East, and the definition of Sadia as the global brand for expansion in the international beef segment with the aim of offering a robust multi-protein portfolio to meet the demand of global customers and consumers.

“In another quarter of sequential and consistent advances, we reported the best operating cash generation in the Company's history, with almost R$3.4 billion. We also increased the average debt term (from 8 to 8.5 years) and reached the lowest leverage ever”, highlights BRF's Vice President of Finance and IR, Fábio Mariano.  

The focus on continuous improvement also remains reflected in the Sustainability agenda (EESG). This quarter, the company made progress in animal welfare certification at BRF's slaughtering units in Turkey. For the 15th year, the Company received the Gold Seal in the Brazilian GHG Protocol Program, which recognizes transparency in the publication of the inventory of greenhouse gas emissions.

“This quarter demonstrates the consolidation of our journey of evolution on all of the Company's work fronts which, every day, also advances in the high performance culture with the engagement of the entire team. We are increasingly resilient and prepared for a new phase of growth”, concludes Miguel Gularte.

Distribution of interest on capital

After 8 years, the Company announced the distribution of interest on equity to shareholders in the total amount of R$946 million. Payment will be made on December 5, 2024. 

About BRF   

One of the largest food companies in the world, BRF is present in more than 120 countries. Its purpose is to offer increasingly tasty and practical quality food - for people and their pets around the world - through sustainable management of its chain, from farm to fork. Owner of iconic brands such as Sadia, Perdigão and Qualy, the Company bases its actions on fundamental commitments to safety, quality and integrity. The company bases its strategy on a long-term vision and aims to generate value for almost 100 thousand employees worldwide, more than 415 thousand customers and approximately 9 thousand integrated producers in Brazil, all its shareholders and for society.     

Press Contact – BRF      
imprensa@brf.com