BRAZIL, São Paulo. BRFended the second quarter of 2019 with a profit of BRL 191 million. The robust result came from higher revenues derived in the domestic and foreign markets, combined with stronger operating and commercial performance.
The net operating income increase totaled BRL 8.3 billion, up 18% over the same period last year, while adjusted Ebitda was at BRL 1.5 billion. The Ebitda margin, which measures BRF’s operating efficiency, peaked at 18.6%, up 13.6 percentage points over the second quarter of 2018.
The company’s indebtedness, measured by the ratio of Ebitda to net debt, was 3.74 times in the 2Q19 — the goal for the end of 2019 is 3.15 times and, for the end of 2020, this indicator will be 2.65x, approximately. BRF had its average debt maturity extended and has recently raised debentures worth BRL 750 million, maturing in 7 years. It then ended the quarter with an approximate cash position of BRL 7 billion, which is enough to cover the company’s financial obligations over the next two years.