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MarketScreener Homepage  >  Equities  >  Bolsa de valores de Sao Paulo  >  BRF S.A.    BRFS3   BRBRFSACNOR8

BRF S.A.

(BRFS3)
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BRF S A : Announcement to the Market – Saudi Arabian Suspension

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02/17/2020 | 07:27am EDT

BRF S.A.

PUBLICLY HELD COMPANY

CNPJ 01.838.723/0001-27

NIRE 42.300.034.240

CVM 16269-2

ANNOUNCEMENT TO THE MARKET

BRF S.A. ("BRF" or "Company") (B3: BRFS3; NYSE: BRFS) communicates to its shareholders and to the market in general that, on February 16, 2020, it became aware of an official note from the Saudi Food and Drug Authority - SFDA, the Saudi Arabian sanitary authority, regarding a report suspending temporarily two Company's establishments, specifically Dois Vizinhos-PR and Francisco Beltrão-PR plants, from exporting chicken meat to this country.

The SFDA informs that the measure is temporary and requests from the Brazilian authorities, among other measures, more details about the investigations carried out between 2014 and 2018 regarding alleged violations conducted by the Company in the production of feed and premix, a preparation containing vitamins and amino acids.

The immediate impact of this measure for BRF is limited to the exports effected by the Dois Vizinhos plant, which was currently operating with an export volume of approximately 6 thousand tons/month to Saudi Arabia. The Francisco Beltrão plant was not performing any exportation to this country.

The Company has already initiated the necessary adjustments to redirect the production to its other plants, until the matter is duly clarified, still possessing five plants with permissions to export to Saudi Arabia. The plants of Dois Vizinhos e Francisco Betrão will be utilized, as of now, to serve other markets.

The Company has cooperated fully and continuously with Brazilian and international authorities in the clarification of the matter and does not tolerate any quality or integrity deviation in its production process. Thus, it has intensified and expanded its internal controls, compliance, and quality structures in recent years aiming to guarantee strict adherence to any and all worldwide sanitary legislations.

BRF will maintain its shareholders and the market in general duly informed as soon as it is officially serviced by the Brazilian Ministry of Agriculture, Livestock, and Supply - MAPA regarding this matter and about any relevant developments in connection with this announcement.

São Paulo, February 17, 2020

Carlos Alberto Bezerra de Moura

Chief Financial and Investor Relations Officer

BRF S.A.

Disclaimer

BRF SA published this content on 17 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 February 2020 12:26:04 UTC

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Financials (BRL)
Sales 2020 36 463 M
EBIT 2020 2 450 M
Net income 2020 808 M
Debt 2020 14 772 M
Yield 2020 1,94%
P/E ratio 2020 15,6x
P/E ratio 2021 8,85x
EV / Sales2020 0,80x
EV / Sales2021 0,71x
Capitalization 14 352 M
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 31,58  BRL
Last Close Price 17,68  BRL
Spread / Highest target 166%
Spread / Average Target 78,6%
Spread / Lowest Target -1,02%
EPS Revisions
Managers
NameTitle
Lorival Nogueira Luz Global Chief Executive & Operating Officer
Pedro Pullen Parente Chairman
Carlos Alberto Bezerra de Moura Chief Financial Officer
Luiz Fernando Furlán Independent Director
Walter Malieni Non-Independent Director
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