BRF CEO hails company’s turnaround since 2018

In three short years, BRF has emerged from a financially troubled company to one on solid footing with a bright future, said CEO Lorival Luz.

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BRF products carrying the Perdigao and Sadia labels. (Benjamin Ruiz)
BRF products carrying the Perdigao and Sadia labels. (Benjamin Ruiz)

In three short years, BRF has emerged from a financially troubled company to one on solid footing with a bright future, said CEO Lorival Luz.

Luz announced the successful completion of the corporate restructuring on February 26, the same day the company announced its financial results for the 2020 fiscal year.

“This journey, amid the complex and extraordinary event occurred in 2020, evidenced our strength, our capacity and BRF’s joint efforts to execute and deliver the assumed commitments,” said Luz.

As a result of a new strategic plan, Luz said, BRF emerged from a consolidated net loss of BRL4.5 billion in 2018, to a net income of BRL1.4 billion in 2020.

The company’s strategic plan developed in 2018 defined BRF’s priorities. Those, according to Luz, included:

  • Creation of a team and high-performance culture
  • Operational excellence
  • Financial discipline
  • Deployment of an integrated and interdependent management model, and  
  • Essential commitments concerning safety, integrity and quality.

Branding and product development

Luz said a recent survey that involved more than 44,000 respondents highlighted consumer confidence in BRF’s brands.

The survey, Luz said, revealed:

  • Sadia is recognized as the most remembered brand in 2020 and most preferred by consumers.
  • Perdigao is the fasted-growting food brand over the past few years, and has conquered the preference of new consumers in 2020
  • Banvit became the preferred brand among Turkish consumers, with a 54% preference.

Innovation was also key to the company’s growth. In 2020, BRF rolled out more than 280 new SKUs, 80% of which were value-added products.

BRF also innovated hot it served its consumers, rolling out the online platform, the Mercato em Casa.

“We aspire to be a company that respects social and environmental governance, financial commitments and principles. Our focus is to add value with increasingly practical and tasty products, solid brands, with quality and reliability,” said Luz.

BRF, according to the WATTPoultry.com Top Companies Database, is the second largest poultry company in Brazil and the third largest poultry company in the world. In 2019, the company slaughtered 1.55 billion broilers.

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