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    MRFG3   BRMRFGACNOR0

MARFRIG GLOBAL FOODS S.A.

(MRFG3)
  Report
Delayed Quote. Delayed Bolsa de Valores de Sao Paulo - 01/21 04:07:41 pm
22.44 BRL   +0.40%
01/20MARFRIG GLOBAL FOODS S A : Institutional Presentation - 3Q21
PU
01/19ANALYSIS-HIGH U.S. MEAT PRICES : packer profiteering or capacity crunch?
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01/03Biden unveils plan to boost competition in U.S. meat industry
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SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Earnings Presentation - 3Q21

10/26/2021 EST

EARNINGS PRESENTATION

3º QUARTER / 2021

EARNING RELEASES

3Q21 - HIGHLIGHTS

Consolidated Net Renevue

R$ 23.6 billion +40.4% vs 3Q20

Revenue by Currency

Dollar: 89% | Real: 8% | Other: 3%

FINANCIAL | OPERATIONAL

North America Operation

Revenue: US$ 3.2 billion

adjEbitda Margin: 26.8%

South America Operation

Revenue : R$ 6.9 billion

adjEbitda Margin : 4.4%

Consolidated Net Profit

R$ 1.7 billion +149% vs 3Q20

Revenue & adjEbitda by Operation

North America

South America

71% | 95%

29% | 5%

Financial Leverage

Real: 1.10x vs

Dollar: 1.07x vs

1.88x in the 3Q20

1.68x in the 3Q20

Equity Investment

CADE: Issued an opnion approving, without restrictions, the acquisition of BRF shares.

Consolidated adjEbitda

R$ 4.7 billion +115.6% vs 3Q20

Mg. adjEbtida

20.0% +700bps vs 3Q20

Operating Cash Flow

R$ 4.7 billion +98% vs 3Q20

Free Cash Flow

R$ 3.8 billion +134% vs 3Q20

Efficiency Program

Capture of R$ 15.0 million comparing to 2Q21 and capture of R$ 64.4 million against 3Q20.

Dividends

Payment in september 28 of R$ 958.4 million

2

OPERATIONS

3

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 - 3Q21

SALES VOLUME

NET REVENUE

adjEBITDA (US$ million)

(Thousand tons)

(US$ million)

& adjEBITDA Margin (%)

Net Revenue

+12.4 p.p.

+43.2%

US$ 3.2

0.6%

26.8%

513

516

3,202

2,000

14.4%

BILLION

1,900

1,800

2,236

1,700

1,600

1,500

+166.7%

1,400

1,300

71 %

1,200

1,100

857

86%

85%

88%

1,000

900

800

of the

89%

700

600

500

321

400

consolidated

300

200

100

0

3Q20

3Q21

3Q20

3Q21

3Q20

3Q21

Exports

Domestic Market

Exports

Domestic Market

EBITDA

Margem EBITDA

4

N O R T H A M E R I C A

MARKET DATA USA

Kills

Cattle Price

Domestic Price

Spread

(USDA F.I. Steer/Heifer Kill)

(USDA KS Steer $/cwt)

(USDA Comprehensive Cutout $/cwt)

(Cutout Ratio)

-2.4%

+20.9%

+42.6%

+17.1%

6,632

6,570

6,472

120

122

292

299

2.45

2.46

2.10

-1.5%

101

+1.5%

+2.2%

+0.4%

210

3Q20

2Q21

3Q21

3Q20

2Q21

3Q21

3Q20

2Q21

3Q21

3Q20

2Q21

3Q21

  • The high demand of beef, driven by the US economic recovery, especially in the foodservice sector, added to seasonality (Barbecue Season) caused the increase in sales prices by 42.6% compared to 3Q20 and offset the increase in the cost of cattle.
  • The Cutout Ratio in 3Q21 was 2.46 (17.1% vs 3Q20), reflecting the excellent moment for beef protein, especially in the domestic market.

5

"USDA KS Steer": cattle price reference in the U.S. state of Kansas. A "hundredweight," or Cwt, is a weight-measuring unit used in certain commodity contracts. In North America, a hundredweight equals 100 pounds.

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

Disclaimer

Marfrig Global Foods SA published this content on 26 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 November 2021 15:36:03 UTC.


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Financials
Sales 2021 78 969 M 14 485 M 14 485 M
Net income 2021 4 187 M 768 M 768 M
Net Debt 2021 14 011 M 2 570 M 2 570 M
P/E ratio 2021 3,54x
Yield 2021 7,95%
Capitalization 15 359 M 2 836 M 2 817 M
EV / Sales 2021 0,37x
EV / Sales 2022 0,35x
Nbr of Employees 32 010
Free-Float 48,5%
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Technical analysis trends MARFRIG GLOBAL FOODS S.A.
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TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 22,44 BRL
Average target price 27,09 BRL
Spread / Average Target 20,7%
EPS Revisions
Managers and Directors
Miguel de Souza Gularte Chief Executive Officer
David Tang Chief Administrative Officer
Marcos Antonio Molina dos Santos Chairman
Ant˘nio dos Santos Maciel Neto Independent Director
Herculano AnÝbal Alves Independent Director
Sector and Competitors