Marfrig Alimentos S.A. posted an EBITDA (earnings before interest, tax, depreciation and amortization) of R$277.8 million (US$174.7 million) for its second quarter ending June 30, 2011, growing 9.7% from R$253.2 million (US$159.2 million) in the second quarter of 2010 and declining 17.7% from R$337.3 million (US$212.1 million) in the first quarter of 2011, according to the company's latest report.
Poultry exports posted a strong performance, according to the company, growing to account for 23.1% of Brazil's total poultry exports in the second quarter, versus 22.7% in the first quarter of 2011 and 19.9% in the second quarter of 2010. "The second quarter continued to pose the challenging environment seen since early 2011, with a weaker U.S. dollar and high grain and livestock prices set against the backdrop of the financial scenario in Europe and the United States, which continue to show signs of economic stagnation," said Marcos Molina dos Santos, Marfrig CEO and chairman. "While we expect the current volatile operating environment to continue into the second half of the year, we also expect to benefit from our financial and operational discipline in order to meet our goals of achieving growing and sustainable margins and creating value for our shareholders."
