On February 26, the world's largest chicken exporter, Brazilian company BRF, reported a fourth-quarter net profit of 868 million reais ($149.33 million), a 15% increase from the same period the previous year. This growth was attributed to strong revenue increases both in Brazil and internationally.
The annual profit soared by 297.5% to reach 3.7 billion reais, with earnings before interest, tax, depreciation, and amortization (EBITDA) seeing a historic rise of 155% to 10.5 billion reais for 2024.
CEO Miguel Gularte expressed satisfaction with the company's record results, solid financial position, and optimistic outlook for 2025, stating, "Our business is at an excellent moment and the company is prepared to take advantage of the opportunities that arise."
Recently, Brazilian chicken export forecasts for the year have indicated a probable upward revision due to avian influenza outbreaks affecting supply in competing exporting countries and importers. Despite never having reported avian influenza on commercial farms, Brazil experienced an outbreak of another disease causing respiratory problems in birds last year.
In the last quarter, BRF's EBITDA reached 2.8 billion reais, a 47% increase from the previous year, attributed to effective management in mitigating the impact of rising corn prices.
Throughout 2024, BRF acquired 84 new export authorizations, totaling 175 since 2022. The company's international market performance achieved record profitability, driven by a strategy of market diversification and an increased focus on processed products. Notably, BRF excelled in the Gulf region and in Turkey, maintaining leading market shares of 37.5% and 26%, respectively.
In the domestic market, BRF reported a significant increase in sales volumes due to growing demand for processed foods, linking this growth to enhancements in the local labor market.