Camil’s T2 2024: Record R$ 3.262 Billion Revenue, 153% Profit Surge

Brazil’s Camil Alimentos S.A. (CAML3) has reported remarkable financial results for the second trimestre of 2024. The company’s performance exceeded expectations, showcasing significant growth across key metrics.

Camil achieved a record net revenue of R$ 3.262 billion ($585 million), marking a 12% increase from the previous year. This growth demonstrates the company’s strong market position and effective business strategies.

The most striking aspect of Camil’s financial report is the substantial increase in net profit. The company saw its profits soar by 153.4% year-over-year, reaching R$ 118.8 million ($21.3 million).

This impressive growth reflects Camil’s ability to capitalize on market opportunities and efficiently manage its operations. The company’s success story extends beyond just profits, as its EBITDA also showed significant improvement.

Camil’s EBITDA grew by 35.4% compared to T2 2023, reaching R$ 288 million ($51.6 million). This growth in EBITDA underscores the company’s improved operational efficiency and profitability.

Notably, Camil’s EBITDA for the last twelve months surpassed the R$ 1 billion ($179 million) mark for the first time. This milestone solidifies Camil’s position among the largest companies in the food sector in South America.

The company’s high-turnover products category, which includes rice, beans, and other grains, performed well in Brazil. Camil reported a 5.5% sequential growth in volumes, reaching 357,600 tons.

This increase was attributed to higher grain volumes and increased purchases by retailers during the period. The company also noted that the results were influenced by a shift in rice harvest seasonality this year.

Camil’s T2 2024: Record R$ 3.262 Billion Revenue, 153% Profit Surge

Camil’s financial position remains strong, with total liquidity increasing by 27.4% to R$ 2.6 billion ($466 million). However, the company’s total debt also rose by 23.8% compared to T2 2023, reaching R$ 6.3 billion ($1.13 billion).

This increase in debt was primarily due to new borrowings in Brazil. Despite this, Camil’s strong revenue and profit growth suggest a positive outlook for the company.

The company’s capital expenditure (Capex) reached R$ 66.5 million ($11.9 million) in T2 2024, a 130% increase year-over-year.

This significant investment was primarily directed towards coffee and pasta businesses, indicating Camil’s commitment to expanding its product portfolio.

Working capital also increased by 30.5% to R$ 3.5 billion ($627 million), reflecting changes in inventory, supplier advances, and accounts receivable.

Camil’s T2 2024: Record R$ 3.262 Billion Revenue, 153% Profit Surge

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