SAO PAULO, July 30, 2015 /PRNewswire/ -- Net operating revenue (NOR) of BRF reached R$7.9 billion in the second quarter of the year, growing by 12.8% from the same period in 2014, as reported by the company today. In the same period, EBITDA increased 43.6% to R$1.4 billion. Simplified cash flow in the last 12 months was R$3.7 billion.
In Brazil, net revenue from processed products grew 15.2% from the same period in 2014. Despite the adverse macroeconomic scenario in Brazil, the brazilian market registered a 9.4% growth in the volume of processed foods compared to the previous year. "I am very pleased to announce what we believe are positive and solid results, both for our business in Brazil and, especially, in the international markets," stated Pedro Faria, global CEO of BRF.
EBITDA margin on the overall results came to 17.4%, up 3.7 percentage points in the period. Gross margin stood at 31.9%, compared to 27.1% in the same period in 2014 and 30.7% the previous quarter. Return on invested capital (ROIC) in the last 12 months reached 13.3%, compared to 7.9% in the second quarter of 2014.
Business performance in the international market, especially the Middle East, deserves special mention, which benefited from the structural changes implemented last year and from the favorable cycle. Poultry volumes grew 7.6% from the year-ago period and, accompanied by higher prices, led to a 42% growth in revenues from the segment. In the Middle East and Africa, EBIT margin reached 18.3%.
Overall net debt in the second quarter was R$5.9 billion, down 4.5% from the balance on March 31, 2015, which resulted in a net debt to EBITDA (12 months) ratio of 1.12 times, compared to 1.26 times in the previous quarter. Another highlight was the €500 million issue of green bonds, the first by a Brazilian company.
Return of Perdigao
The second half of 2015 marks an important moment - the return of the main Perdigao products, which had been suspended for the past three years. Henceforth, BRF will be able to operate at full capacity, with a comprehensive portfolio of brands in Brazil.