Marfrig Global Foods S A : Earnings Presentation - 1Q23
May 15, 2023 at 07:00 pm EDT
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EARNINGS
PRESENTATION
1st Quarter / 2023
EARNINGS RELEASES
HIGHLIGHTS OF 1Q23
Consolidated Net Revenue
R$ 31.8 billion
Consolidated ADJ EBITDA
R$ 1.5 billion
Mg. ADJ EBITDA
4,7%
FINANCIAL | OPERATIONAL
North America Operation
Net Revenue: US$ 2.6 billion
ADJ EBITDA Margin: 3.9%
BRF
Net Revenue: R$ 13.1 billion
ADJ EBITDA Margin: 4.6%
Operating Cash Flow
R$ 673 million
Financial Leverage
In Real: 3.50x | In Dolar: 3.53x
South America Operation
Net Revenue: R$ 5.2 billion
ADJ EBITDA Margin: 7.8%
Financial Leverage (ex-BRF)
Marfrig repurchased and cancelled a total portion equivalente to U$S 52 million of the main of the outstanding senior notes (bonds) due in 2026, 2029 and 2031.
Revenue by Currency
Dollar: 71% | Real: 27% | Others: 2%
Revenue by Operation
North America South America BRF
43%16%41%
ADJ EBITDA by Operation
North America South America BRF
34%26%40%
Sustainability
CDP - Marfrig is among the 8% of the best evaluated companies for the involvment of suppliers on climate change by the 2022 edition of Disclosure Insight Action
Forest 500 - In 2023, Marfrig took the lead in the slaughterhouse sector in the
global ranking for combating deforestation Forest 500.
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OPERATIONS
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N O R T H A M E R I C A O P E R A T I O N
OPERATIONAL AND FINANCIAL PERFORMANCE - 1Q23
SALES VOLUME
NET REVENUE
(Thousand tons)
(US$ million)
-11.0%
-14,6%
523
3,023
466
2,583
800
88%
86%
88%
600
90%
400
200
0
1Q22
1Q23
1Q22
1Q23
ADJ EBITDA (US$ million)
ADJ EBITDA Margin (%)
-11.1 p.p.
15.0%
3.9%
-77.7%
453
101
1Q22 1Q23
Net Revenue
US$ 2.6
Billion
ADJ EBITDA
34 %
of the
consolidated
Exports
Domestic Market
Exports
Domestic Market
ADJEBITDA
ADJEBITDA Margin
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N O R T H A M E R I C A
MARKET DATA - USA
Cattle Price
Drop Credit
Domestic Price
Spread
(USDA KS Steer $/cwt)¹
($/cwt)
(USDA Comprehensive Cutout $/cwt)
(Cutout Ratio)
+15,9%
-3,0%
+1,6%
-12.1%
160,5
14,62
277,9
1.98
151,0
13,81
13,40
273,6
253,4
1.74
138,5
1.69
1Q22
4Q22
1Q23
1Q22
4Q22
1Q23
1Q22
4Q22
1Q23
1Q22
4Q22
1Q23
(1) The "hundredweight", abbreviated Cwt, is an unit of measurement for weight used in certain commercial "commodity" contracts. In North America, the "hundredweight" is equal to 100 pounds
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Disclaimer
Marfrig Global Foods SA published this content on 15 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 May 2023 22:59:09 UTC.
Marfrig Global Foods S.A. pecializes in the production and processing of beef and lamb. The group is also developing a feed manufacturing business.
At the end of 2021, the group had over 30 production sites worldwide.
Brazil accounts for 76.1% of net sales.