BRF SA is a Brazilian company focused on various food products for the local and international markets. It sells meat (both fresh and processed), as well as a range of final products such as margarine, mayonnaise and ready-to-eat meals.
BRF’s revenue in 2Q17 was BRL 8bn, a 5.7% decrease relative to 2Q16. A stronger BRL, which appreciated 9% against the USD in the period, impacted the company’s foreign revenues. COGS, meanwhile, decreased 3.3%. Other operating expenses rose 10.6%, making the operating margin fall to 1.4% in the quarter, compared to 6.2% in the previous year.
At the end of 2Q17, BRF’s gross and net debt stood at BRL 24.2bn and BRL 13.8bn, respectively, representing increases of 35.6% and 24.9%, respectively, compared to 2Q16.