Brazil Foods achieves US$13.3 billion in 2009 sales

by Bryan Salvage
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SAO PAULO, BRAZIL – BRF Brasil Foods, which was created by the merger between Perdigao and Sadia in 2009, announced sales of US$13.3 billion and a market capitalization of US$ 11.4 billion, for 2009. Brazil Foods now claims to be the fourth-largest Brazilian exporter, the world's largest exporter of poultry meat and the largest global protein company by market capitalization.

Since the merger, the new company said it has progressed within the parameters of the Transaction Reversibility Preservation Agreement (A.P.R.O.) signed with the Administrative Council for Economic Defense (C.A.D.E.), the Brazilian anti-trust authority. The public offering concluded during the year for supporting the operations of the new company exceeded expectations, raising US$2.9 billion.

The success of this operation, together with the recent bond issue of US$750 million, has been instrumental in Brasil Foods beginning 2010 with a solid cash position.

Brasil Foods' adjusted net income in 2009 was US$196 million considering pro-forma results — that is the fully consolidated figures for Sadia and its controlled companies shown as if the merger of shares had taken place on Jan, 1 2008. Net sales for the year surpassed US$11.4 billion.

The results for Brasil Foods' exports (approximately US$5 billion – for the year), reflect adverse international conditions, which triggered a sharp decline in prices and volume. The situation was further aggravated by an extremely volatile foreign exchange market, as well as cost and expense pressures along the entire production chain, among other factors impacting this segment.

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