Marfrig reverts losses and gains in the second quarter

The Marfrig reversed in the second quarter loss of almost R $600 million suffered a year earlier, obtaining a third consecutive quarterly profit supported in better operational performance, despite a 10-day interruption in exports from Brazil to China in Period. The company, the world's largest burger producer, had a net profit of R $86.5 million in the second quarter, with an average of analysts forecasts of R $134.8 million according to Refinitiv data. The cash generation measured by the profit before interest, taxes, depreciation and amortization (EBITDA) adjusted was R $1.11 billion, high of about 13% in the annual comparison. Analysts, on average, expected R $1.04 billion for this line. "The results accumulated in the first half of 2019 and the expected positive trend for the next semester make us reiterate the guidance released in the first quarter," Marfrig said on the balance sheet. The company expects to have this year net revenues between R $47 billion to R $49 billion. In the second quarter, revenues totaled R $12.2 billion, up nearly 10% over a year earlier. The company ended the first semester with a net debt ratio on adjusted EBITDA of 2.65 times, a reduction of 0.11 instead of the first three months of the year.