Force has net income of r $ 26.5 million in 1st Qtr of 2014

SAO PAULO-the Force food company controlled by J&F group, reported that it had in the first quarter of 2014 a net income of r $ 26.5 million, well above the net result positive also $ 1,479 million same period in 2013. The performance includes the proportional result of participation that the Effect holds in Itambé Foods. Half of the company's capital was acquired by Force in the middle of last year.
The company's net revenue surpassed the billion, while reaching R $ 1.018 billion in the period, against r $ 353,3 million in the first quarter of last year. The company reported that, with the consolidation of Itambé, net revenue was also to include a new category, called "dry", responsible for 38.2% of revenues in the quarter. In this category, are the products: milk powder, sweet milk and condensed milk, all marketed under the brand name Itambé.
The Force said that the participation of the dairy recipe remained in 35.6%, in line with the behavior of the previous quarter.
The earnings before interest, taxes, depreciation and amortization (Ebitda) totaled r $ 82,783 quarterly million, against R $ 13.8 million in the same quarter of 2013. The Ebitda margin reached 8.1% in the quarter, well above the 3.9% for the period from January to March 2013.
These indicators express the company's operational improvement and a higher price per ton sold in the quarter. According to the Force, this average price increased 22.1%, to R $ 5,056 thousand.
At the end of the first quarter of 2014, on 31 March, the Force had a net debt of R $ 853,5 million. Of the total $ 1.1 billion of gross debt, 37.6% or R $ 414,1 million in the short term and R $ 687,4 million, (or 62.4%) in the long run.