Camil sees profit rising to R$106.6 million and announces R$19 million in JCP

Food producer Camil (CAML3) recorded a net profit of R$106.6 million in the fourth quarter of 2023, which is a growth of 572% compared to the same period of the previous year. In the 12 months, profit was R$360.5 million, an increase of 1.9% compared to 2022.

The result benefited from the increase in prices in Brazil. In the high-turnover market, which is grains and sugar, there was an increase in rice prices in the second half of the year. In the international segment, there was an improvement in profitability in Peru and Chile.

Following the release of the results, the company reported that its plants in Rio Grande do Sul were not affected by the floods that hit certain regions of the state.

“We inform that the company’s production plants were not impacted, and production remains without impact so far, but we are mobilizing resources and efforts to help those who need it most”, according to the earnings release released this Thursday.

Camil has two production units in Rio Grande do Sul, one in the city of Camaquã and the other in Capão do Leão.

Camil’s profit growth is linked to the recovery in prices, especially in rice throughout the second half of last year.

Download a list of 11 Small Caps stocks that, in experts’ opinion, have growth potential in the coming months and years

In the high-turnover segment, which includes grains and sugar in Brazil, the net price per kilo was R$5.04, an increase of 25.6% in the annual comparison. In the high-value segment (coffee, biscuits and canned tuna and sardines), the net price per kilo was R$ 15.09, an increase of 1.2%.

Net revenue totaled R$2.7 billion, an increase of 6.8% compared to the fourth quarter of 2022.

Ebitda reached R$253.8 million, an increase of 61.7% and a margin of 9.5%, a gain of 3.2 percentage points.

The company also announced the distribution of R$19 million in JCP (interest on equity), which is equivalent to R$0.055706838 per common share. Unlike the dividend, this amount is subject to a 15% withholding for Income Tax (IR).

For the distribution of this proceeds, the base date is May 27th. Payment will be made on June 10th.