SAO PAULO, Brazil, May 12 /PRNewswire-FirstCall/ -- Perdigao's export volumes were down 8.4% in the first quarter compared to the same period in 2005 due to the decline in the consumption of poultry meat following widespread avian influenza outbreaks in Europe and the Middle East in January and February. With an oversupplied international market, average prices in Reais fell 15.7%, reflecting a decline of 22.8% in export revenues.
Pork meat exports were also adversely impacted during the quarter by the trade ban introduced by Russia at the end of December 2005, following outbreaks of foot and mouth disease in the states of Mato Grosso do Sul and Parana. This led to a 10.3% fall in pork export volumes.
Domestic sales volume posted an increase of 13.8%. However, gross sales increased by only 1.1% compared to the same period 2005. Weaker overseas demand, especially for in natura products, triggered oversupply in the domestic market as well, with average prices sliding 7.6%.
Net income for the quarter was R$ 10.4 million, 85.5% down on the first three months of 2005 while EBITDA at R$ 64.3 million, registered a decline of 56.3%.
THE QUARTER'S NUMBERS
R$ million
1Q06 1Q05 % Change
Gross Sales 1,229.1 1,371.6 (10.4)
Domestic Market 720.8 713.3 1.1
Exports 508.3 658.3 (22.8)
Net Sales 1,055.5 1,203.5 (12.3)
Gross Profit 249.4 329.2 (24.2)
EBIT 26.3 122.0 (78.5)
Net Income 10.4 71.8 (85.5)
EBITDA 64.3 147.3 (56.3)
Capex 95.4 58.9 62.0
Earnings per share R$ 0.08 0.54 (85.5)
Feel free to contact Edina Biava/Gabriela Las Casas, Investor Relations, f. 55 11 3718.5301/ 3718.5791
The Company's complete Quarterly Results are available at our website http://www.perdigao.com.br/ri/eng .
Perdigao S.A., PRGA3 (BOVESPA), and PDA (NYSE), is one of the largest food companies of Latin America and one of the largest meat processors in the world, exporting to over 100 countries.
