São Paulo, November 7, 2022 – In its second long-term transaction in the capital market, Frigol, ranked among the five major slaughterhouses in Brazil, raised R$110.6 million with the issue of Agribusiness Receivable Certificates (CRA), maturing in six years and yielding CDI + 5.75% p.a. The transaction was coordinated by Banco Safra and anchored by Kinea.

The proceeds will be used to extend the Company’s debt. Therefore, the issue of CRAs becomes an efficient way to finance the sustainable growth of the Company.  “This achievement shows the market’s receptiveness to our strategy, which is based on operating excellence and corporate governance”, says Eduardo Miron, CEO of Frigol.

“This year is being marked by the revision of Frigol’s capital structure. With the proceeds from this issue and the one held in the first half, we have a new debt profile with average debt terms of nearly two years, keeping the financial discipline, with leverage at 1.0x the net debt/EBITDA ratio”, says Eduardo Masson, CFO of Frigol.

All-time high Financial Results 

In the first nine months of 2022, Frigol recorded an all-time high revenue of R$3 billion, a year-over-year increase of 27.6%, accompanied by better profitability. The Company reached an EBITDA of R$245.3 million between January and September, a year-over-year growth of 123.8%, with a margin of 8.6%. Accumulated net income totaled R$155.4 million, 3.5 times higher than the figure reported in 2021.

About Frigol

Frigol S.A. is one of the main and most traditional Brazilian slaughterhouses and one of the leaders in beef and pork production in South America. Founded in 1992 by the Gonzaga Oliveira family, who had been in the beef business since 1970, Frigol is strategically located in the states of São Paulo and Pará. The Company currently has an important share in the domestic and international markets, with a presence in more than 60 countries in the South and North Americas, Europe, the Middle East, Asia, and Africa. The Company recently joined Revista Exame’s Biggest and Best ranking, which is one of the most important awards in the economy, standing in the 209th position. Furthermore, it was in the 312th position in the Valor 1000 ranking, which lists Brazil’s largest companies.

For further information, visit Frigol’s website.