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BRF reported earnings before interest, tax, depreciation and amortization (EBITDA) of 1.368 billion reais, above an estimated 1.202 billion reais.
BRF said its results were affected by two non-recurring events in the quarter. The first was a negative 445 million reais coming off net revenue from international markets, resulting from “hedge accounting” related to a debt security maturing in June 2022. The other factor was hyperinflation in Turkey, which affected the way BRF recognizes the value of assets and liabilities in that country.
BRF said net revenue rose by 11.2% to 12.9 billion in the second quarter.
($1 = 5.0947 reais)
