SAO PAULO, March 18 /PRNewswire-FirstCall/ -- Marfrig Frigorificos e Comercio de Alimentos S.A. (BM&FBovespa: MRFG3), the most diversified food company in meats, announces today its fourth quarter (4Q08) and full year of 2008 results.
2008 Highlights
- Net Revenue climbed 85.7% in 2008 to R$ 6,203.8 million, versus R$ 3,339.9 million in 2007 and in line with the guidance disclosed to the market in January 2008 of between R$ 6.0 billion and R$ 6.5 billion.
- The share of processed food in the revenue mix stood at 22.3% in 2008, up from 12.3% in 2007, advancing the strategy disclosed by the Group since its IPO of expanding the share of sales in this segment.
- In 2008, EBITDA was R$ 884.4 million, up 132.6% on the R$ 380.2 million recorded in 2007.
- EBITDA margin in 2008 stood at 14.3%, 290 bps higher than the 11.4% recorded in 2007 and above the guidance disclosed in January 2008 of between 10% and 11%.
- The net loss in 2008 was R$ 35.5 million, versus net income of R$ 84.9 million in 2007.
4Q08 Highlights
- In 4Q08, the share of processed products in the revenue mix was 30.8%, versus 16.5% in the previous quarter.
- Net revenue totaled R$ 2,396.0 million, up 119.8% on 4Q07 (R$ 1,089.9 million) and 57.3% in relation to 3Q08 (R$ 1,523.6 million).
- Gross income was R$ 580.3 million (gross margin of 24.2%), increasing 460 bps on 4Q07 (R$213.7 million for margin of 19.6%) and 550 bps higher than in 3Q08 (R$284.9 million for margin of 18.7%).
- EBITDA was R$ 446.7 million in the quarter, increasing by 262.1% from R$ 123.3 million in 4Q07 and by 160.5% from R$ 171.4 million in 3Q08.
- In 4Q08, the company posted a net loss of R$ 74.2 million, versus net income of R$ 26.3 million in 4Q07 and a net loss of R$ 52.7 million in 3Q08.
Conference Calls - March 19, 2009 (Thursday)
In English
11:00 am (US EDT) / 12:00 pm (BR)
Dial in access: (1 973) 935-8893
Conference ID: 89139893
In Portuguese
9:00 am (US EDT) / 10:00 am (BR) / 1:00 pm (GMT)
Dial in access: (55 11) 2188-0188
Conference ID: Marfrig
Investor Relations:
Ricardo Florence / Remi Kaiber Junior
