Renar Apples has net income of r $ 7,767 million in 2013

SAO PAULO-the catarinense Renar Apples, headquartered in Fraiburgo, reported today the Comissão de Valores Mobiliários (CVM) which closed 2013 with net profits of r $ 7,767 million against loss of r $ 23,035 million the previous year. The company's Ebitda, which had been negative in R $ 5,678 million in 2012, was also positive, for $ 3.3 million. With the upset, guaranteed by the company's performance in the second half, the Ebitda margin reached 7.4 percent in all of last year. Only in the fourth quarter, Ebitda reached r $ 3.8 million.
The improvement of Ebitda reflects the strategy of Renar of concentrate fruit sales in the second half, when normally the supply reduction raises prices on the market. The company marketed their apples for an average price of R $ 1.41 a pound in 2013, but between October and December the average value was r $ 2.39. The net income obtained was credited to a more efficient cost control, an increase of profitability and the non-recurring events.
The company also concluded in 2013 a renegotiation which reduced its indebtedness in R $ 28.3 million — and in r $ 4.5 million annual cost to carry it. According to Henrique Roloff, Chief Financial Officer and investor relations officer of Renar, the debt has fallen to about $ 50 million and is expected to be reduced by over $ 5 million later in the first half. The remaining profile will be predominantly long-term.
"The positive results in the year 2013 marks the timely meeting between the completion of the operational and financial restructuring of Renar with the beginning of what we believe to be a price recovery cycle for the Apple industry," said the company in a statement sent to CVM.
Always according to the company, its production of apples totaled 32,116 tonnes in 2012/13 season. Was decrease of 34.8% compared to 2012, but because the Renar eradicated 482 hectares of orchards of lower productivity to raise their profitability. The equation formed by volumes and prices resulted in a net revenue of R $ 44,202 million last year, 10.4% lower than in 2012.
If in 2012/13 climatic adversities also affected the production of Renar, the company informs that, until now, the scenario is favorable to the formation of the 2013/14 season. The company's initial perspective is that its production reach 34.9 million tons, with 46.1 productivity tonnes per hectare — 20% greater than in the previous cycle.