THE BRF (BRFS3) reported net loss consolidated of continuing operations of R$ 451 million in the second quarter. The result is 70.8% higher than the losses of R$ 199 million recorded in the same period last year.
The increase of ccosts and expenses was the biggest factor in the worsening of the company’s results. This is because net revenue grew 11.2% to R$12.9 billion. The costs of products and services, however, increased 15%, to R$ 10.9 billion. As a result, gross profit, R$ 1.9 billion, fell 6.2%.
BRF’s Ebitda margin also suffers
The erosion of earnings continued with the 20% jump in operating expenses, which went from R$1.5 billion to R$1.8 billion. The 16% increase in selling expenses was the biggest pressure on this account, as this line totaled R$ 1.7 billion.
The net result of financial operations was slightly better this quarter, with a negative balance of R$610 million, compared to losses of R$759.4 million in the same period of 20221.
Adjusted Ebitda, an important benchmark for analysts to estimate cash generation, totaled R$1.4 billion, against R$1.3 billion in the comparison. The adjusted Ebitda margin showed a slight deterioration, falling from 10.9% to 10.6%.
See BRF’s 2Q22 results report, released this Wednesday (10).
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Source: Moneytimes
I am an author at Global happenings and I mostly cover automobile news. In my time working in the automotive industry, I have developed a keen interest in the latest developments and trends. My writing skills have also allowed me to share my knowledge with others through articles and blog posts.
