Camil posts profit of R$ 66 million, down 7.9%

Camil (CAML3) recorded a net income of R$ 66 million in the quarter from September to November, down 7.9% compared to the same period in 2018, a document sent to the market on Thursday (9). Net revenue reached R$ 1.4 billion, up 13.9%, driven by the acquisition of SLC Alimentos and grain sales growth and an increase in international stake, which reached R$ 441.3 million in the quarter (+7.8%) driven by the increase in sales volume to Chile and Peru. Ebitda (earnings before interest, taxes and depreciation and amortization) grew 15.2% and totaled R$ 133.0 million, margin of 9.2% (-2.7 percentage points). In the communiqué, the company highlights the sequential increase in margins and sequential recovery of volumes in the international and sugar segment, in addition to the annual growth in grain sales volume in Brazil. "The results for the third quarter of 2019 demonstrate the gradual recovery and evolution of the fundamentals of our business. Over the past few months we have made progress in implementing cost and expense reduction initiatives and adjustments in our operations in order to achieve a new growth cycle," he said.