Marfrig Global Foods S A : 2Q21 - Earnings Presentation
August 11, 2021 at 07:09 am EDT
Share
EARNINGS
PRESENTATION
2º QUARTER / 2021
EARNING RELEASES
2Q21 - HIGHLIGHTS
Consolidated Net Renevue
R$ 20.6 billion +9.0% vs 2Q20
Revenue by Currency
Dollar: 90% | Real: 7% | Other: 3%
FINANCIAL | OPERATIONAL
North America Operation
Revenue: US$ 2,948 million
adjEbitda Margin: 24.5%
South America Operation
Revenue : R$ 5,024 million
adjEbitda Margin : 3.6%
Consolidated Net Profit
R$ 1.7 billion +9.0% vs 2Q20
Revenue & adjEbitda by Operation
North America
South America
76% | 96%
24% | 4%
Financial Leverage
Real: 1.45x vs
Dollar: 1.55x vs
2.07x in the 2Q20
1.79x in the 2Q20
Equity Investment
Acquisition of relevant passive stake in
BRF
Consolidated adjEbitda
R$ 3.9 billion
Mg. adjEbtida
19.1%
Operating Cash Flow
R$ 3.0 billion
Free Cash Flow
R$ 2.2 billion
Dividends
Distribution of R$ 958.4 million | dividend yield of around 7.0%.
Buyback Program
Buyback program of 26 million shares
Cancellation of 20 million treasury
shares.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 - 2Q21
SALES VOLUME
(Thousand tons)
+12,5%
NET REVENUE
adjEBITDA (US$ million)
(US$ million)
& adjEBITDA Margin (%)
+10,1%
0,8 p.p.
Net Revenue
US$ 2.9
507
451
2.678
2.948
23,7%
24,5%
1.200
1.100
1.000
+13,8%
900
800
722
635
700
600
BILLION
76 %
84%86%
2Q20 2Q21
EM DM
91% 89%
2Q20 2Q21
EM DM
500
400
300
200
100
0
2Q20
2Q21
EBITDA
EBITDA Margin
of the
consolidated
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A M É R I C A
D O
N O R T E
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)
+17,4%
+12,0%
0,0%
-8,9%
5.598
6.402
6.570
107
113
120
292
292
2,69
2,45
+2,6%
225
+5,9%
1,99
+30,1%
+23,1%
2Q20
1Q21
2Q21
2Q20
1Q21
2Q21
2Q20
1Q21
2Q21
2Q20
1Q21
2Q21
The sector showed excellent performance, highlighting strong demand and wide availability of cattle, resulting in a significant slaughter of 6,570 million heads (+17.4% vs 2Q20).
The quarter was marked by a high consumption of beef, driven by the US economic recovery, especially in the foodservice sector, and Barbecue Season kept its sales price stable year-on-year.
The Cutout Ratio in 2Q21 was 2.45 (-8.9% vs 2Q20), a drop reflecting higher cattle prices and stable sales.
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Marfrig Global Foods SA published this content on 10 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2021 22:45:05 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.