Q4 2020 BRF SA Earnings Call (In Portuguese With Simultaneous Translation to English) Transcript
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for many of us because of the COVID pandemic. And this was a year in which we had to take care of people, do everything that we had to and still maintain our responsibility of producing food so that we could supply our consumers. Even with all of the effects and challenges, the company continued to deliver its results, which were very robust. And this was the fruit of a very good execution focused on financial discipline, operational efficiency, commercial services. And this year, as you'll see, our mix of products has been changed.
In 2020, we reached nearly BRL 40 billion in net revenue, a margin of 18% year-on-year or 23% in the fourth quarter. Our adjusted EBITDA was also robust at BRL 5.2 billion. Even despite such a challenging year in which the company had to do so much, our net income was also up to BRL 902 million in the fourth quarter and nearly BRL 1.4 billion in 2020 total. And this continues our successful pathway in managing our leverage.
Our leverage is now at 2
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