BRF closes 2024 with record revenue and profit
The company's net revenue was a record R$61.4 billion, 14% up on the previous year. With 123% growth compared to 2023, EBITDA reached R$10.5 billion, the best result for a year, and a margin of 17.4% (versus 8.8% in 4Q23). The company reported historic net income of R$3.7 billion. BRF also showed strong free cash flow generation, with R$6.5 billion, the highest since the company was founded, and closed the year with a reduction in net debt and a leverage of 0.79x. In the fourth quarter of 2024, profit was R$868 million, higher than the R$754 million recorded in 4Q23 and revenue of R$17.5 billion (R$14.4 billion in 4Q23).
The record results were driven by the increase in volumes sold, especially in the processed products portfolio, in line with efficient commercial execution, the expansion of launches and outstanding innovations, as well as the consolidation of Sadia and Perdigão as the leading brands in Brazil. In addition, the company continued to evolve in various indicators through BRF+, which in 2024 reached an additional capture of R$1.5 billion in the accumulated result for the year. “The historic results for 2024 reflect the strategic direction and consistency of work begun two years ago with a focus on operational efficiency, capturing market opportunities and financial discipline,” says Miguel Gularte, CEO of BRF.
In Brazil, EBITDA grew 45.5% to R$4.5 billion and margin of 15.5%, a gain of 4.1 percentage points compared to 2023, with progress across the entire portfolio. Volume growth in the region was significant, with processed foods standing out and market share gains in all categories. Revenues amounted to R$28.8 billion, an increase of 7.4% compared to 2023. The result was sustained by the continued evolution of commercial execution, which enabled a record 327,000 customers to be served and gains in share of shelf space, in addition to the Sadia, Perdigão and Qualy brands which continue to make a difference at the points of sale.
In the international market, BRF recorded record profitability, driven mainly by its strategy of diversifying markets and increasing the share of processed products in its portfolio. In 2024, the company won 84 new export licenses, bringing the total to 175 since 2022. In the year, EBITDA was R$5.7 billion (5x the 2023 figure). Revenue was R$28.2 billion, an increase of 15.6% compared to 2023. We highlight the GCC region and Turkey, where the company maintained market leadership with 37.5% and 26% market share respectively.
"In 2024, we made consistent progress, reaching excellent operating levels, contributing to the best cash generation of our history with R$6.5 billion in the year. We also reduced debt levels and were able to re-establish the remuneration of our shareholders with the payment of R$1.1 billion in interest on equity. Leverage fell from 2.01x in 2023 to 0.79x in 2024", said BRF's Vice President of Finance and IR, Fábio Mariano.
In the Sustainability Agenda (EESG), BRF stood out as the first company in the food sector in Brazil to have its climate targets approved by the Science Based Target Initiative. The company achieved the goal of 100% monitoring of grain suppliers, bringing forward the delivery of the public commitment by one year. The company reduced its water consumption by 11.4% and achieved around 50% of its electricity consumption from renewable sources. In terms of Social Responsibility, it played a leading role with the “Together for the South” campaign, led by the BRF Institute, in support of the victims of the floods in Rio Grande do Sul, in which BRF and Marfrig together raised more than R$ 6 million.
"In 2024, BRF made important moves in continuity with its strategy of focusing on value-added products and diversifying markets, through the purchase of a stake in Addoha Poultry Company, one of the main chicken producers in Saudi Arabia; the investment in the processed plant in Henan province, China; and the signing of the agreement to acquire 50% of Gelprime, a company specializing in the production, marketing and distribution of gelatine and collagen", says Marcos Molina, Controller and Chairman of the Boards of Directors of BRF and Marfrig.
With the best performance in the company's history, 2024 consolidated BRF's journey of efficiency and made it possible to open a new chapter of growth. The company began 2025 motivated to continue its strategy focused on added value, maximizing revenues and high performance through a team of dedicated and engaged employees.
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