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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 : 3Q20 Financial Statements

11/09/2020 | 08:21pm EST

Interim

Financial

Information

September 30, 2020

(A free translation of the original in Portuguese)

BRF S.A. | INTERIM FINANCIAL INFORMATION - September 30, 2020

1

INDEX

STATEMENT OF FINANCIAL POSITION...........................................................................................................................................................................................

4

STATEMENT OF INCOME (LOSS)........................................................................................................................................................................................................

5

STATEMENT OF COMPREHENSIVE INCOME (LOSS).................................................................................................................................................................

6

STATEMENT OF CHANGES IN EQUITY.............................................................................................................................................................................................

7

STATEMENT OF CASH FLOWS .............................................................................................................................................................................................................

8

STATEMENT OF VALUE ADDED..........................................................................................................................................................................................................

9

MANAGEMENT REPORT ......................................................................................................................................................................................................................

10

1.

COMPANY'S OPERATIONS .............................................................................................................................................................................................

37

2.

BASIS OF PREPARATION AND PRESENTATION OF INTERIM FINANCIAL STATEMENTS ..............................................................

42

3.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ......................................................................................................................................

43

4.

CASH AND CASH EQUIVALENTS .................................................................................................................................................................................

43

5.

MARKETABLE SECURITIES ...........................................................................................................................................................................................

44

6.

TRADE ACCOUNTS RECEIVABLE AND OTHER RECEIVABLES .....................................................................................................................

44

7.

INVENTORIES.......................................................................................................................................................................................................................

46

8.

BIOLOGICAL ASSETS.........................................................................................................................................................................................................

47

9.

RECOVERABLE TAXES .....................................................................................................................................................................................................

49

10.

INCOME AND SOCIAL CONTRIBUTION TAXES.....................................................................................................................................................

51

11.

JUDICIAL DEPOSITS ..........................................................................................................................................................................................................

53

12.

INVESTMENTS .....................................................................................................................................................................................................................

54

13.

PROPERTY, PLANT AND EQUIPMENT, NET ..........................................................................................................................................................

55

14.

INTANGIBLE ASSETS ........................................................................................................................................................................................................

57

15.

LOANS AND BORROWINGS............................................................................................................................................................................................

59

16.

TRADE ACCOUNTS PAYABLE .......................................................................................................................................................................................

63

17.

SUPPLY CHAIN FINANCE................................................................................................................................................................................................

63

18.

LEASES.....................................................................................................................................................................................................................................

64

19.

SHARE-BASED PAYMENT...............................................................................................................................................................................................

67

20.

EMPLOYEES BENEFITS PLANS....................................................................................................................................................................................

68

21.

PROVISION FOR TAX, CIVIL, LABOR AND OTHER RISKS ................................................................................................................................

69

22.

EQUITY ....................................................................................................................................................................................................................................

70

23.

EARNINGS (LOSS) PER SHARE.....................................................................................................................................................................................

71

24.

FINANCIAL INSTRUMENTS AND RISK MANAGEMENT ...................................................................................................................................

72

25.

SEGMENT INFORMATION ..............................................................................................................................................................................................

83

26.

NET SALES .............................................................................................................................................................................................................................

85

27.

OTHER OPERATING INCOME (EXPENSES), NET.................................................................................................................................................

85

28.

FINANCIAL INCOME (EXPENSES), NET ...................................................................................................................................................................

86

29.

STATEMENT OF INCOME BY NATURE.....................................................................................................................................................................

87

BRF S.A. | INTERIM FINANCIAL INFORMATION - September 30, 2020

2

30.

RELATED PARTIES - PARENT COMPANY ..............................................................................................................................................................

87

31.

COMMITMENTS...................................................................................................................................................................................................................

90

32.

TRANSACTIONS THAT DO NOT INVOLVE CASH .................................................................................................................................................

90

33.

EVENTS AFTER THE REPORTING DATE .................................................................................................................................................................

90

34.

APPROVAL OF THE INTERIM FINANCIAL INFORMATION.............................................................................................................................

92

COMENTARY ABOUT THE COMPANY PROJECTIONS BEHAVIOUR ..................................................................................................................................

93

BREAKDOWN OF THE CAPITAL BY OWNER (NOT REVIEWED)........................................................................................................................................

93

INDEPENDENT AUDITOR'S REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION..............................................................................

94

OPINION OF THE AUDIT AND INTEGRITY COMMITTEE.......................................................................................................................................................

95

STATEMENT OF EXECUTIVE BOARD ON THE INTERIM FINANCIAL INFORMATION AND INDEPENDENT AUDITOR'S REPORT ....

96

BRF S.A. | INTERIM FINANCIAL INFORMATION - September 30, 2020

3

(in thousands of Brazilian Reais)

STATEMENT OF FINANCIAL POSITION

Parent company

Consolidated

Parent company

Consolidated

ASSETS

Note

09.30.20

12.31.19

09.30.20

12.31.19

LIABILITIES

Note

09.30.20

12.31.19

09.30.20

12.31.19

CURRENT ASSETS

CURRENT LIABILITIES

Cash and cash equivalents

4

4,501,817

1,368,980

11,398,587

4,237,785

Loans and borrowings

15

4,276,437

3,033,034

4,398,427

3,132,029

Marketable securities

5

311,048

396,994

313,091

418,182

Trade accounts payable

16

7,288,352

5,270,762

8,098,659

5,784,419

Trade and other receivables

6

6,497,572

6,153,937

2,894,853

3,090,691

Supply chain finance

17

1,121,372

842,037

1,121,372

842,037

Inventories

7

4,686,542

2,786,147

6,336,613

3,887,916

Lease liability

18

252,672

313,058

326,143

376,628

Biological assets

8

1,829,790

1,545,127

1,903,441

1,603,039

Payroll, related charges and employee profit sharing

1,044,425

754,032

1,089,380

825,254

Recoverable taxes

9

276,921

274,480

343,936

473,732

Tax payable

238,152

268,193

362,437

517,208

Recoverable income tax and social contribution

9

25,281

40,291

59,896

152,486

Derivative financial instruments

24

783,613

151,722

793,361

153,612

Derivative financial instruments

24

148,376

193,740

153,421

195,324

Provision for tax, civil and labor risks

21

1,067,456

1,081,103

1,071,964

1,084,308

Restricted cash

1

296,294

1

296,294

Employee benefits

20

87,996

87,996

97,596

95,919

Assets held for sale

15,637

16,671

35,659

99,245

Advances from related parties

30

8,868,203

5,364,164

-

-

Other current assets

364,104

495,743

495,714

590,733

Other current liabilities

249,885

329,166

752,965

512,591

Total current assets

18,657,089

13,568,404

23,935,212

15,045,427

Total current liabilities

25,278,563

17,495,267

18,112,304

13,324,005

NON-CURRENT ASSETS

NON-CURRENT LIABILITIES

LONG-TERM RECEIVALBLES

Loans and borrowings

15

18,535,617

13,395,970

21,616,002

15,488,250

Marketable securities

5

14,995

14,891

382,283

307,352

Trade accounts payable

16

6,402

12,347

6,402

12,347

Trade and other receivables

6

57,228

71,029

57,244

71,029

Lease liability

18

1,907,641

1,939,494

2,072,500

2,054,552

Recoverable taxes

9

5,253,866

5,167,016

5,253,842

5,169,547

Tax payable

176,808

190,257

176,808

190,257

Recoverable income tax and social contribution

9

55,025

264,428

61,637

269,263

Provision for tax, civil and labor risks

21

742,872

709,760

743,202

710,061

Deferred income taxes

10

1,983,517

1,808,494

1,999,083

1,845,862

Deferred income tax

10

-

-

129,212

85,310

Judicial deposits

11

565,287

575,681

565,364

575,750

Liabilities with related parties

30

41,039

960,056

-

-

Biological assets

8

1,097,795

1,016,642

1,169,365

1,081,025

Employee benefits

20

550,203

506,791

675,625

593,555

Receivables from related parties

30

339

234

-

-

Derivative financial instruments

24

21,354

3

21,354

3

Derivative financial instruments

24

223

49,991

223

49,991

Other non-current liabilities

279,674

482,109

286,972

1,093,942

Restricted cash

24,297

-

24,297

-

Other non-current assets

72,250

78,516

76,975

85,537

Total long-term receivables

9,124,822

9,046,922

9,590,313

9,455,356

Total non-current liabilities

22,261,610

18,196,787

25,728,077

20,228,277

EQUITY

22

Capital

12,460,471

12,460,471

12,460,471

12,460,471

Capital reserves

140,626

192,845

140,626

192,845

Investments

12

12,599,699

6,499,517

18,730

14,880

Accumulated losses

(3,522,245)

(3,996,985)

(3,522,245)

(3,996,985)

Property, plant and equipment, net

13

11,046,571

11,333,302

12,227,225

12,276,889

Treasury shares

(123,938)

(38,239)

(123,938)

(38,239)

Intangible assets

14

3,198,924

3,139,532

5,410,770

4,908,079

Other comprehensive loss

(1,867,982)

(722,469)

(1,867,982)

(722,469)

Attributable to controlling shareholders

7,086,932

7,895,623

7,086,932

7,895,623

Non-controlling interests

-

-

254,937

252,726

Total non-current assets

35,970,016

30,019,273

27,247,038

26,655,204

Total equity

7,086,932

7,895,623

7,341,869

8,148,349

TOTAL ASSETS

54,627,105

43,587,677

51,182,250

41,700,631

TOTAL LIABILITIES AND EQUITY

54,627,105

43,587,677

51,182,250

41,700,631

The accompanying notes are an integral part of the interim financial information.

BRF S.A. | INTERIM FINANCIAL INFORMATION - September 30, 2020

4

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

BRF SA published this content on 09 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2020 01:20:08 UTC


© Publicnow 2020
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Financials
Sales 2020 38 424 M 7 028 M 7 028 M
Net income 2020 734 M 134 M 134 M
Net Debt 2020 15 446 M 2 825 M 2 825 M
P/E ratio 2020 18,7x
Yield 2020 0,93%
Capitalization 16 711 M 3 061 M 3 057 M
EV / Sales 2020 0,84x
EV / Sales 2021 0,78x
Nbr of Employees 90 000
Free-Float 99,4%
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Technical analysis trends BRF S.A.
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 26,23 BRL
Last Close Price 20,69 BRL
Spread / Highest target 64,3%
Spread / Average Target 26,8%
Spread / Lowest Target -8,17%
EPS Revisions
Managers and Directors
NameTitle
Lorival Nogueira Luz Global Chief Executive Officer
Pedro Pullen Parente Chairman
Vinícius Guimarães Barbosa Vice President-Operations & Procurement Officer
Carlos Alberto Bezerra de Moura Chief Financial Officer & Vice President-Finance
Neil Hamilton dos Guimarães Peixoto Vice President-Research & Development
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