SAO PAULO, March 31, 2011 /PRNewswire/ -- Marfrig Alimentos
S.A. (BOVESPA: MRFG3 and NYSE (Level 1 - ADR): MRRTY), a global
food company, today reported its results for the full-year 2010
ending December, 31, 2010, establishing the foundation for robust
profits in the medium and long term.
Market share gains in Brazil
that accelerated in the fourth quarter, synergies from the SEARA
acquisition and distribution, new-found opportunities with
Keystone, and the capacity to pass higher costs on to consumers
through its distribution channels helped the company to offset
higher grain and cattle prices, a 2009 Real currency gain and
challenging environments in Argentina and Uruguay.
FY10 HIGHLIGHTS
- Consolidated gross revenues grew by 14.2% to R$ 20.6bn for FY2010 on a pro forma basis from
FY2009 pro forma* revenues of R$
18.1bn, following strong rapid gains in the Brazilian beef
segment and larger sales in both domestic and export markets in
SEARA;
- Consolidated FY2010 net revenues reached R$ 15.9bn, up to 65.0% from R$ 9.6bn in FY2009;
- In a pro forma basis, consolidated EBITDA reached R$ 1.7bn, 127.4% upon R$
765.4m in FY2009; EBITDA margin rose to 8.9% in FY2010 from
4.5% in FY2009;
- Consolidated EBITDA of R$ 1.5bn
reached in FY2010, up to 107.2% from R$
725m in FY2009; EBITDA margin continued to improve, rising
to 9.5% in FY2010 from 7.5% in FY2009;
- Record segment results with Brazilian beef production increased
69.2% to 2.65m cattle heads from 1.57m. Chicken in Brazil and Europe increased 96.5% to 838.5 million heads
from 426.7 million heads, while total pork jumped 164.4% to 2.6m
from 992.7k and turkey rose a strong 181.0% to 5.99 million from
2.13 million. Marfrig became the second-largest chicken and pork
exporter in Brazil, according to
SECEX (Foreign Trade Secretariat of the Ministry of Development,
Industry and Foreign Trade). In Brazil, Marfrig became the second biggest
provider of processed and specialty pork and poultry-derived
products.
*pro forma: Considering Seara and Keystone FY 2009 and
2010.
Consolidated FY2010 net income reached R$146.1m or R$0.42
per share, down by 72.7% compared to FY2009. On a pro-forma basis,
net profit achieved R$259.1m in
FY2010, a 44% growth when compared to consolidated pro forma net
income of R$179,9m in FY2009.
"The acquisition of Keystone and SEARA have made Marfrig one of
the world's biggest global food processors with operations in 22
countries and five continents, providing meats, poultry and leather
to millions of consumers every year," said Chairman and CEO
of Marfrig Group, Marcos Antonio
Molina dos Santos. "In 2010, we worked hard to strengthen
our global platform, grow revenues and build customer value despite
challenging commodity prices and difficult global macroeconomic
conditions. Our goal in 2011 is to continue to deliver
operational results while capitalizing on significant growth
opportunities that exist across the Marfrig supply chain. This
includes launching new SEARA products in Brazil, Argentina, Uruguay and Europe, whilst finding cost savings
opportunities, improving our debt profile and creating value to our
shareholders in 2011."
About Marfrig
Marfrig Alimentos SA is one of the largest global food
companies. Distribution segments include beef products, pork, lamb,
and poultry, as well as other food products. The Group's
diversified operational base includes 151 production units, as well
as trading and distribution in 22 countries and five continents.
Considered one of Brazil's most
internationalized and diversified Brazilian food companies, the
Group exports products to over 150 global locations. Voted the Best
Agribusiness Company in Brazil by
top magazine Exame in 2010, Marfrig is the largest producer of lamb
in South America, the largest
meats company in Argentina, the
biggest poultry producer in the UK, and the top private-sector
company in Uruguay and in
Northern Ireland.
This presentation may contain statements that are
forward-looking within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Such forward-looking statements are only projections and are not
guarantees of future performance. Investors are cautioned that any
such forward-looking statements are and will be, as the case may
be, subject to many risks, uncertainties and factors relating to
the operations and business environments of Marfrig and its
subsidiaries that may cause the actual results of the companies to
be materially different from any future results expressed or
implied in such forward-looking statements.
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and is not to be construed as a solicitation or an offer to buy or
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specific investment objectives, financial situation or particular
needs of any recipient. No representation or guarantee, either
expressed or implied, is provided in relation to the accuracy,
completeness or reliability of the information contained herein.
This material should not be regarded by recipients as a substitute
for the exercise of their own judgment.
Texto Assessoria
Phone: +55 (11) 2198-1888
E-mail: imprensa@textoassessoria.com.br
SOURCE Marfrig