Mbrf Global Foods Company S.a. · BMFBOVESPA:MBRF3
Mbrf Global Foods — Marfrig Global Foods — Q2 2016 Earnings Presentation
12 slides from Mbrf Global Foods's earnings presentation, Aug 11, 2016
Slide 1: 2Q16 Earnings Presentation
2Q16 Earnings Presentation August 11, 2016 Investor Relations 1
Slide 2: Disclaimer
Disclaimer This material is a presentation of general information about Marfrig Global This presentation includes forward-looking statements. Such statements do Foods S.A. and its consolidated subsidiaries (jointly the “Corporation”) on the not constitute historical fact and reflect the beliefs and
Slide 3: Guidance 2016
Guidance 2016 Target 1H16 2016 (1) R$22 a R$24 R$10 Net Revenue billion billion Adjusted EBITDA 8.5% - 9.5% 8.7% Margin(2) R$450 to R$600 R$169 CAPEX million million R$100 to R$(69) Free Cash Flow(3) R$250 million million (1) Assumptions based on exchange rate of R$4.10/US$1.00. (2) Excludes non-rec
Slide 4: Financial Performance | Consolidated: Net Revenue
Financial Performance| Consolidated Net Revenue 2Q16 Revenue Breakdown (R$ million) Business +1% By 4,722 4,774 Currency 2Q15 2Q16 By Higher revenue mainly explained by the 14.2% appreciation of the US dollar against the Brazilian real. 4 4
Slide 5: Financial Performance | Consolidated: Gross Profit and EBITDA
Financial Performance| Consolidated Gross Profit and Gross Margin Adjusted EBITDA and Margin (R$ million and %) (R$ million and %) 8.7% 8.7% 11.7% 12.0% +3% +1% 411 414 554 572 2Q15 2Q16 2Q15 2Q16 2Q15 2Q16 Solid performance in Keystone Breakdown EBITDA positively influenced Marfrig’ s Gross 4
Slide 6: Net Income/Loss | Consolidated
Net Income/Loss| Consolidated Net Loss (R$ million) 1H15 1H16 (238) (577) +59% The Company’s commitment with its financial discipline and capital structure contributed to the improvement of R$339 million in 1H16 result. 6 6
Slide 7: Keystone Highlights
Keystone Highlights Net Revenue Adjusted EBITDA and Margin (US$ million) (US$ million and %) 9.9% % Key 7.7% Accounts 23% 28% -4% +24% 698 673 67 54 2Q15 2Q16 2Q15 2Q16 Total Volume (Thousand Tons) Net Revenue reduction due to lower +1% commodity prices; 272 274 Slight volume increase year
Slide 8: Beef Highlights
Beef Highlights Net Revenue Adjusted EBITDA and Margin (R$ million) (R$ million and %) -6% 9.5% 7.5% -27% 246 180 37% 42% % food service Brazil 2Q15 2Q16 Total Volume (Thousand Tons) -13% Net Revenue affected by lower sales volume 297 resulting from the optimization of industrial 260 footpri
Slide 9: Bonds Issuance & Repurchases
Bonds Issuance & Repurchases In USD Bonds Maturity Schedule (pro forma) Before* After 1,200 1,200 Avg. Term: 2,7 years Avg. Term : 4.7 years 1,000 1,000 800 800 600 600 400 400 200 200 0 0 2016 2017 2018 2019 2020 2021 2023 2016 2017 2018 2019 2020 2021 2023 *1Q16 2016 2017 2018 2019 2020 2021 2023
Slide 10: Debt Maturity Schedule & Ratios
Debt Maturity Schedule & Ratios Gross Debt (R$ and US$ billion ) 5,195 -6% 11.7 11.0 R$ million 2,062 2,073 2,307 1,279 1,270 984 994 Cash & Equiv. 2016 2017 2018 2019 2020 2021-22 2023 1Q16 2Q16 US$ 3.3 3.4 Ratios 1Q16 2Q16 Net Debt Leverage: (R$ and US$ billion ) Net Debt / EBITDA LTM – Continued
Slide 11: 2Q16 Cash Flow | Consolidated
2Q16 Cash Flow| Consolidated R$ million 338 (61) 73 69 (281) (4) CF from Capex Interest FCF FCF Total FCF Operations Expenses Continued Ops Descont. Ops 1111
Slide 12: 2Q16 Earnings Presentation
2Q16 Earnings Presentation August 11, 2016 Investor Relations 12