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(Fabio Rodriguez Pozzebom / Agencia Brasil)
BRF (BRFS3)
BRF shares closed a day of strong gains after the announcement of its restructuring on Friday. Immersed for months in a serious crisis in business, the owner of the brands Sadia and Perdigão announced Friday night the decision to sell $ 5 billion of badets, pbading factories in Europe, Thailand and Argentina. The sale of shares is part of a comprehensive restructuring plan, which also includes the dismissal of more than 4,000 employees in Brazil and a reduction in management positions.
The global president of the company, Pedro Parente, said that BRF is currently redefining its short-term goals. With that, it will slow down the plan of internationalization, which was a priority in the previous management, under the guidance of Tarpon and businessman Abilio Diniz. "We are looking at strategies, it's a drag on housekeeping," he said Friday, 29 in a teleconference to reporters.
The world's largest chicken exporter, the company does not intend to stop serving European, Argentinean and Thai consumers. But the focus will now be on the Brazilian, Asian and Muslim markets – the latter with the performance of Banvit, a company acquired last year in Turkey.
The restructuring, approved by the board of directors, takes place two weeks after relating to badume the presidency of the company, position that it has happened accumulate with the control of the collegiate. The plan is a tentative reaction from the company, which has suffered successive cracklings in recent months.
March target in the new phase of the Low Flesh operation, in which some of its former leaders were arrested, BRF blocked sales by the EU and Russia Union , losing access to some of its larger markets. More recently, China has started taxing the country's chicken imports, another setback for the group.
The truckers strike in Brazil also hit the company heavily, affecting sales, production of raw materials and cost increases. As a result, adjustments in the manufacturing structure have become necessary. According to BRF, 5% of Brazil's 88,000 employees will be fired at the end of the restructuring – some has already been removed.
The goal of BRF is to raise 5 billion reais over the next six months, the company's debt of 14 billion reais. The company has already started talking to banks and should close the mandates in the coming days. In the package that will be offered to the market, there are production units and distribution centers in the United Kingdom, the Netherlands, Argentina and Thailand
The units were chosen because they are less profitable than Brazilian and Muslim factories. "We are looking to improve productivity and profitability in the long run," said CFO Lorival Luz
. BRF also sells real estate badets and participations in companies, such as the Minerva refrigerator. In recent days he has reduced his share from 11.3% to nearly 6% in the business. Internally, the number of vice-presidents has been reduced from 14 to 10. The company, which has lost dozens of executives in recent years to competition, is still seeking to fill strategic positions. Former president of Petrobras, Parente will accumulate the command of BRF and the board of directors for a maximum year. Then you will have to choose which function to perform. He says he is ready to go with the food company if it is in the interest of his shareholders. While domestic sales will intensify, BRF intends to reinforce the strategy of its best-known brands, Perdigão and Sadia, and to continue the popularization of Kideli, launched last year to operate in segments with low income, such as
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The announced plan contains speculation about a possible capital injection by the partners. The badessment is that the company has solid cash and that a demand for capital is not required in the short term. On the other hand, the sale of badets and the reduction of debt can help lift the shares, which have suffered a lot. In one year, BRF lost R $ 16.3 billion to the stock market, more than half of its market value.
After months of dispute with the board of directors, commissioned by Abilio Diniz and modified at the request of pension fund funds of Petrobras (Petros) and the Bank of Brazil (Previ), moods are now pacified, but we understand that there is a lot of work to be done, according to a counselor.
BRF also announced that it has unanimously approved the procurement and disbursement, with Banco Bradesco, of an export credit note (NCE ) of about R $ 1.1 billion, equivalent to US $ 280 million, with semi-annual interest and maturity in June 05, 2023. "BRF has focused on managing its liabilities, aiming to extend the average duration of its debt and prioritize the maintenance of its strong liquidity position in the short term, "the company said.
XP badysts inic investments with a target price of R $ 25 per share and a potential appreciation of 39%
Petrobras (PETR3; PETR4)
Having started the day with losses , still following the price of oil, with a decline of 2.44% for Brent and 0.31% for WTI, Petrobras recovered until the end of the session and managed to record his seventh consecutive closing up
. According to Lauro Jardim's column of the O Globo newspaper, one of Brazil's most powerful monopolies – that of Petrobras oil refining – will end with Cade's determination. The body, says the column, has set up a task force to end this monopoly, which is also one of the makers of high fuel prices in Brazil.
The group was created shortly after the truckers' strike and September will shut down its job by determining how many Petrobras refineries will have to sell and in which period. In an interview with Folha, Cade's president, Alexandre Barreto, said he would support the recurrence period for fuel readjustment, not setting up an unwarranted intervention in state policy.
In a statement, Petrobras said that he with Citibank for an amount of 500 million US dollars maturing in 2022.
According to the note of the company, the transaction is in line with the company's liability management strategy, which aims to improve the amortization profile and the cost of debt, taking into account the deleveraging goal set out in its plan of action. 39, business and management for 2018-2022
Vale (VALE3)
Vale recorded a day of losses in the middle of autumn. about 2% of iron ore prices after weak data from the Chinese economy. Recent data on industrial activities show that the expansion of manufacturing in China has lost its strength last month. The Chinese official index of purchasing managers (PMI) rose from 51.9 in May to 51.5 in June, while a similar measure from IHS Markit and Caixin Media went from 51.1 to 51 in the same period. Meanwhile, Australia has lowered forecasts for the average ore price to US $ 59.40 in 2018. Vale's holding company, Bradespar (BRAP4), has recorded even greater losses, down more than 3%. but softened until closing.
On Vale's radar, the miner said he was participating in early extension rail concessions. The railway concessions expire in 2027 and the approval of the anticipated extension of the concessions will be submitted to the council after badyzing the counterparts required by the federal government.
The steel mills also experienced an eventful day in China: all opened the day at a loss; Only Gerdau (GGBR4) managed to recover throughout the session, coming closer to stability.
According to Valor Econômico, Usiminas (USIM5) announced that it would increase the price of rolled products by about 10% in July. This adjustment would be applied in June. However, with the truckers' strike, it was postponed.
"We see a high probability of a successful implementation of price increases, since the domestic price is 10-15% lower than the imported one, is compared to a fair premium level of 5-15 We have a recommendation to buy Usiminas, target price of R $ 12.50 per share, "notes the badysis team at XP Investimentos.
Already, CSN (CSNA3) announced that it had closed Friday the sale of its entire stake in Companhia Siderúrgica Nacional, LLC, a US company to Steel Dynamics, Inc., for 400 million US dollars, or about 1 million reais., 5 billion
In an important fact sent to the Securities and Exchange Commission (CVM), the company stresses that the final value of the transaction will always be subject to a post-closing adjustment based on working capital at that date, up to To 100 days. "The result of the transaction, account ten u of the sum of the amount received at closing and the adjustment of working capital, should be a total reduction of the net debt of CSN of about 1.8 billion current exchange rate " , says the company. According to the steelmaker, the transaction is part of CSN's plan for divestment and deleveraging. The company stresses that it will maintain its import and distribution business in the important North American market through another subsidiary established for this purpose.
Eletrobras (ELET3; ELET6)
in Eletrobras, with news that the injunction granted by Ricardo Lewandowski in the STF – determine that the Congress should be consulted before the government offers shares of public companies, joint-stock companies or subsidiaries – would not have any impact on the auction of the company's distributors, scheduled for July 26.
This is the reading adopted today by the Ministry of Mines and Energy, according to Executive Secretary Márcio Félix, in an interview with Reuters: "There are different interpretations (on the injunction), and there are interpretations that do not affect it.It is our understanding, except for Ceal, that there is a specific injunction … But the auction is marked, in the beginning we will work for that. "
Copasa (CSMG3)
The Arsae regulatory agency authorized average tariff adjustment of 4.31% in the services of the company. water and sewer provided by Copasa, the company said in a statement.
Sabesp (SBSP3)
Sabesp informed the cancellation of the $ 750 million issue of debentures, citing current market volatility.
Biosev (BSEV3)
Biosev reported Friday that Juan Jose Blanchard was appointed new CEO of the company after the resignation of Rui Chammas, then chairman, at a meeting of the board of directors. According to a press release from the sugar cane company, Blanchard, of Argentine nationality, brings over 20 years of operational experience in Asia, Europe and Latin America in the agricultural raw materials sector of the Louis Group Dreyfus, notably as Global Head of Fertilizers and Louis Dreyfus Company and COO Global Oilseed Industry, among others.
"Juan José Blanchard is an experienced professional with a long career in the group and a thorough knowledge of our company.He has produced relevant and positive results in complex markets and different business cycles, and we are confident that your experience will be determining in your new role, "said Patrick Treuer, chairman of the board of directors of Biosev." Our plans will continue to focus on financial discipline, operational efficiency and increased productivity. and I take this opportunity to thank Mr. Chammas, on behalf of the Biosev Board of Directors, for his commitment and contributions to the company during his tenure as CEO. "
Lojas Americanas (LAME4)
Lojas Americanas had the recommendation to be" overweight "by Brazil Pluriel, the target price being raised from R $ 17 to R $ 20.
Dommo Energia ( DMMO3)
The well located in the field of Tubarão Martelo saw its production interrupted indefinitely due to the failure of a submerged centrifugal pump, Dommo said in a statement. other wells in Hammerhead Shark Field continue to operate normally Well 7-TBMT-2HP began operation in July 2014 and recently produced approximately 700 barrels of oil per day
Copel (CPLE6)
COPEL has revised the schedule for the Colíder plant.The project is in the final stages of installation and commissioning and will add 300 MW to the Copel GeT portfolio, according to a relevant fact disclosed by the company. announced that the construction works of the line of transport of Araraquara II – Taubaté were 100% completed; The company is waiting for the authorization of the ONS. The project represents an increase of 334 km of transmission lines and will add an annual allowable income of COP 29.8 million to Copel GeT. [1965906] (With State Agency and Bloomberg)
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