• Net Revenue: up 23% at BRL5.9bn (US$1.9m)
  • Adjusted EBITDA up 14% to BRL403.3m
  • Higher raw material costs and negative forex hit bottom line.

Brazilian beef giant Marfrig has posted a higher loss for the first quarter of the year on the back of negative foreign exchange and higher costs.

The firm reported a loss of BRL570.9m compared with BRL96.4m.

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Adjusted EBITDA was up 14% to BRL403.3m

Net revenues for the quarter were up 23% at BRL5.9bn

Marfrig said the outlook for the rest of the year in exports is positive, further augmented by the potential of the opening of the US and Chinese markets to Brazilian fresh beef.

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