Even though it produced more than the previous year, the Marfrig closed 2023 at a loss. The company published its results on Wednesday 27. Giant in meat processing beef, the company is recognized as the largest hamburger manufacturer on the planet.
According to the results report, Marfrig sold 8.2 million tons of meat in 2023. That’s 15% more than the previous year.
Amid the increase in production, annual revenue grew 4.5%, reaching R$136 billion — a record. Even so, the company recorded a loss of R$1.5 billion.
The loss for the annual year was due to operations from January to September — there were three consecutive quarters with negative cash. In the cycle from October to December, however, the company achieved relief and recorded a net profit of R$112 million.
The red cash cycle began at the end of 2022, when quarterly operations resulted in a loss of R$650 million.
Sale of Marfrig business
Amid negative results, Marfrig sold R$7.5 billion in assets to Frigorifico Minerva, in August 2023. The deal involved slaughterhouses and a distribution center in Brazil. An industrial unit in Argentina also entered the account.
Currently, the group maintains operations in three South American countries — Brazil, Argentina and Uruguay — and in the United States. Furthermore, Marfrig holds controlling interest in BRF.
