BRF S.A. (NYSE:BRFS) Q1 2023 Earnings Conference Call May 16, 2023 9:00 AM ET
Company Participants
Miguel Gularte – Chief Executive Officer
Fábio Mariano – Chief Financial Officer
Conference Call Participants
Gustavo Troyano – Itaú BBA
Isabella Simonato – Bank of America
Thiago Bortoluci – Goldman Sachs
Thiago Duarte – BTG Pactual
Leonardo Alencar – XP
Lucas Ferreira – JPMorgan
Operator
Good morning, ladies and gentlemen. Welcome to BRF’s conference call to discuss results regarding the First Quarter of 2023. This conference is being recorded, and the replay can be accessed on the company’s IR website at ir.brf-global.com. The presentation is also available for download. At this morning all participants are connected in listen-only mode. [Operator Instructions]
Before proceeding, we would like to clarify that any forward-looking statements are based on the beliefs and assumptions of BRF’s management and the current information available to the company. These statements may involve risks and uncertainties as they relate to future events and therefore, depend on circumstances that may or may not occur. Investors, analysts and journalists must understand that events related to the macroeconomic environment, industry and other factors could cause results to differ materially from those expressed in the respective forward-looking statements.
Here with us today in this conference call are Mr. Miguel Gularte, CEO; and Fábio Mariano, CFO.
I would now like to turn the floor over to Mr. Gularte, who will start the presentation. Mr. Gularte, you may proceed.
Miguel Gularte
Good morning. I would like to thank everyone for attending our first quarter 2023 earnings conference call. During this period, we remain focused on executing our efficiency plan, which advanced consistently showing progress on all our work fronts. We have evolved our operational indicators with emphasis on food conversion, mortality, yield, daily costs and level of logistics service. We also advanced in commercial execution and in the share of higher added value items in our portfolio.
I now invite our CFO, Fábio Mariano, to present the results for the quarter and then return afterwards to provide more detail of our progress and make the final remarks on this call.
Fábio Mariano
Good morning to everyone joining us. In the opening slide, I’d like to highlight our main financial indicators for the first quarter, starting with net revenue, which increased by nearly 10% over the same period of last year and coming to BRL13.2 billion. As for EBITDA, we reported BRL607 million in the quarter, and EBITDA margin of 4.6%.