BRF to invest R$ 2.08 billion in 2013 in capital goods
On December 12, the Vice President of Finance, Investor Relations and Administration at BRF, Leopoldo Saboya, reiterated the outlook for the company's performance in 2013 at a meeting with analysts and investors last month. He said CAPEX - spending on equipment and / or installations - will total R$ 2.08 billion next year, of which R$ 500 to R$ 600 million on reproducing cattle. Growth in net revenue is expected to be between 10% and 12%, said Saboya.
"The investments will be in various growth projects, there isn't one area only planned," he said. He added that Performance Commitment Terms (TCD) entered into with Brazil's anti-trust body, CADE, could have generated losses of R$ 3.4 billion in revenue in 2012 compared with 2011. The TCD stipulated the sale of brands and assets and the temporary suspension of items under the Batavo and Perdigão brands. "But we have did not lose that much. We cannot quantify the total, because we were able to make it up with sales, product re-positioning and product launches," he said. Saboya also reiterated that the company still plans overseas acquisitions, as the domestic market is constrained by CADE.
Information provided by Agência Estado