05/10/2024 – 12:05
Brasília, 10 – Camil Alimentos, a multinational of Brazilian origin, obtained a net profit of R$ 106.6 million in the fourth fiscal quarter of 2023, ended in February, the company reported on Thursday, 9, after the financial market closed . The result represents an increase of 572% compared to the same period last year, when the company recorded a profit of R$15.9 million. Earnings per share reached R$0.30 in the fourth quarter. The company operates in rice, beans, coffee, sugar, pasta, fish and biscuits.
Net revenue increased 6.8%, from R$2.512 billion to R$2.682 billion in the fourth fiscal quarter of 2023. In the Brazil food segment, revenue increased 6.8%, to R$2.101 billion. The international food segment also had net revenue 6.8% higher, at R$581.2 million.
Ebitda (earnings before interest, taxes, depreciation and amortization) grew 61.7% in the same comparison, from R$157.0 million to R$253.8 million. The Ebitda margin increased 3.2 percentage points from the fourth fiscal quarter of 2022 to the fourth fiscal quarter of this year, ending the period at 9.5%.
Leverage (ratio between net debt and Ebitda) ended the fourth fiscal quarter of 2023 at 2.9 times compared to 3 times in the same period of the previous fiscal year. During the period, the company invested (Capex) R$86.3 million, 12.4% less than in the fourth fiscal quarter of 2022.
Balance 2023
Camil Alimentos reported a net profit of R$360.5 million in 2023, 1.9% higher compared to 2022, when the company reported a net profit of R$353.7 million. The company’s Ebitda reached R$914 million, a decrease of 0.6% compared to R$919.8 million in the previous year. The Ebitda margin was 8.1%, compared to 9% a year earlier, a drop of 0.9 percentage points. The company’s leverage (ratio between net debt and EBITDA) was 2.9 times, compared to 3 times reported at the end of 2022.
Net revenue was a record and increased 10.2% in the annual comparison, reaching R$ 11.250 billion in 2023, compared to R$ 10.206 billion in 2022. In the Brazil food segment, revenue increased 10.5%, to R$ 8.392 billion .
The international food segment achieved net revenue 9.3% higher, at R$2.858 billion. The volume of products sold by the company in the year fell 0.6%, to 2.192 million tons. The performance of Brazil, which grew 2.8% in volume sold in fiscal year 2023, offset the 4% drop in the international segment in the year.
During the year, the company invested R$290.5 million, 27.5% less than in 2022, when it invested R$400.6 million. In 2023, contributions were directed especially towards expanding coffee, pasta and international capacity.
In the statement released to investors, Camil’s CEO, Luciano Quartiero, highlighted that net revenue was a record in fiscal year 2023, attributing part of the performance to higher value-added categories – businesses recently acquired by Camil.
“In the high-value category, made up of fish, pasta, coffee and biscuits, we showed volume growth of 25% compared to the previous year, mainly due to the entry into the biscuits category and constant growth in volumes of roasted and ground coffee”, stated Quartiero .
The executive mentioned that the company is focused on expanding pasta volumes and the category’s participation in the company’s sales mix.
In the coffee segment, according to Quartiero, the União brand achieved 4% market share in São Paulo and Rio de Janeiro in 2023 and concluded expansion throughout the country. The expansion of coffee manufacturing capacity was completed in the last fiscal year by company, Quartiero said. “With the pasta and coffee expansions, in addition to the biscuits operation that has the capacity to double in size in sales, we believe we are well positioned to drive sales expansion opportunities in the high-value categories for our business – both in volume , as well as expanding profitability”, said the CEO.
In relation to the high-turnover segment, made up of grains and sugar, the CEO pointed out that the result benefited from the rise in rice prices in the second half of 2023.
“Sugar, in turn, operated below potential this year. We operate in sugar retail in a challenging scenario, and we have taken measures to minimize these effects, as observed in sugar volumes with the continuity of export operations”, noted Quartiero.
As for the international market, the CEO highlighted that there was an improvement in profitability in Chile and Peru, with investments made in the countries.
#Camils #profit #increases #4th #fiscal #quarter #million