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BRF income grows 38% in 2013

SAO PAULO, Feb. 27, 2014 /PRNewswire/ -- BRF closed 2013 with net profit of R$ 1.1 billion, 38% higher than in 2012. Adjusted EBITDA totaled R$ 3.6 billion, increase of 35.3%, with improvement in EBITDA margin, which reached 11.9%, compared to 9.4% last year.

The performance reflects the sustainable work that was done this year with main changes in the company. The new development cycle of BRF focuses on customers and consumers and, although is oriented to long-term results, important advances as operational improvements and greater efficiency in optimizing working capital have allowed free cash flow to grow 10 times, from R$ 115 million in 2012 to more than R$ 1.5 billion in 2013.

Net revenue for the year reached R$ 30.5 billion, 7% higher than in 2012, demonstrating the resilience capacity of the company against the still challenging environment in the markets as well as the strength of the brands, especially Sadia and Perdigao, which remained as the two most remembered by consumers (Top of Mind). In the margarine segment, Qualy continues to be the top of mind brand, position it has held for nearly a decade. If considered the effects of TCD (Performance Commitment Instrument), which established asset sales and temporary suspension of the use of trademarks, revenue growth would be 12%.

During 2013, BRF launched 219 new products being 99 in the domestic market, 96 in the overseas market and 24 new products in the Food Services segment. The interactivity with the consumer was quite explored, both to guide the direction of the company in the new cycle - such as the satisfaction survey conducted throughout the year with more than a thousand interviews with clients - and to strengthen the dialogue between the company and its consumers, with engaging campaigns such as the innovative "Dia da Ceia da Arvore", which reached approximately 90% of market visibility.

BRF's investments totaled R$ 1.5 billion in 2013, directed mainly to automation projects and process improvement, particularly in the areas of IT and logistics. The highlights were the opening of the Innovation Center in Jundiai (SP) and the beginning of construction of the processing plant in the Middle East. For 2014, the company expects to maintain investments in this same level.

The volume of shares traded in 2013 reached a daily average of US$ 80.7 million, 6.2% higher than 2012. The income per share, excluding treasury shares, was R$ 1.22, compared to R$ 0.89 in 2012, representing an increase of 37%.

The Strategic Planning Cycle for the period 2014-2017 (BRF-17) was built during the second half with the goal of revalidating BRF as a company that creates value through the strength of its brands and innovation of its products, moving away from price sensitivity and the narrow margins of commodities. With these directions, the company is confident that the new development cycle will bring significant gains, as the increase of R$ 1.9 billion in operating income by 2016.

SOURCE BRF S.A.

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