São Paulo, November 2022 – In the first nine months of the year, Frigol recorded an all-time high revenue of R$3 billion, a year-over-year increase of 27.6%, combined with 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%. In a year-to-date basis, the net income totaled R$155.4 million, 3.5 times higher than the figure reported in 2021.

The consistency of the quarter results led to gross revenue of R$987.4 million in 3Q22, a year-over-year increase of 13.5%, with EBITDA of R$66.5 million, and a margin of 7%, a year-over-year growth of 21.2%. Net income totaled R$32.2 million, up by 47.5% over the figure reported in 2021. The cash flow from operating activities totaled R$58.2 million in the period.

“Our financial discipline led the leverage to 1.0x the net debt/EBITDA ratio, more than doubling the Company’s cash balance, which ended 3Q22 at R$242.9 million”, says Eduardo Masson, CFO of Frigol.

“Following our strategy to intensify our presence in the international market, exports accounted for 57% of sales in the quarter, the highest percentage ever recorded in the Company’s history”, says Eduardo Miron, CEO of Frigol.

With more than 50 years operating in the Brazilian market, Frigol has been investing in planning strategy of increase its export portfolio, which is currently composed of more than 60 countries. China remains the main destination, followed by Israel. The Company was recently accredited to export to new countries.

“Frigol is always looking to explore new destinations. This year we have already been accredited to export to Canada, the United Kingdom, Iran, Lebanon, and Argentina. We were recently in France, participating in SIAL Paris, one of the most important events in the food sector, and went on a tour to Southeast Asia, visiting countries with high demand, such as Singapore, Indonesia, Malaysia and the Philippines, thus maintaining our market diversification strategy”, concludes the CEO.

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 Revest 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.