(A free translation of the original in Portuguese)
BRF S.A. | INTERIM FINANCIAL INFORMATION - September 30, 2020
1
INDEX
STATEMENT OF FINANCIAL POSITION...........................................................................................................................................................................................
4
STATEMENT OF INCOME (LOSS)........................................................................................................................................................................................................
5
STATEMENT OF COMPREHENSIVE INCOME (LOSS).................................................................................................................................................................
6
STATEMENT OF CHANGES IN EQUITY.............................................................................................................................................................................................
7
STATEMENT OF CASH FLOWS .............................................................................................................................................................................................................
8
STATEMENT OF VALUE ADDED..........................................................................................................................................................................................................
BASIS OF PREPARATION AND PRESENTATION OF INTERIM FINANCIAL STATEMENTS ..............................................................
42
3.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ......................................................................................................................................
43
4.
CASH AND CASH EQUIVALENTS .................................................................................................................................................................................
TRADE ACCOUNTS RECEIVABLE AND OTHER RECEIVABLES .....................................................................................................................
INCOME AND SOCIAL CONTRIBUTION TAXES.....................................................................................................................................................
PROPERTY, PLANT AND EQUIPMENT, NET ..........................................................................................................................................................
LOANS AND BORROWINGS............................................................................................................................................................................................
PROVISION FOR TAX, CIVIL, LABOR AND OTHER RISKS ................................................................................................................................
EARNINGS (LOSS) PER SHARE.....................................................................................................................................................................................
71
24.
FINANCIAL INSTRUMENTS AND RISK MANAGEMENT ...................................................................................................................................
72
25.
SEGMENT INFORMATION ..............................................................................................................................................................................................
83
26.
NET SALES .............................................................................................................................................................................................................................
85
27.
OTHER OPERATING INCOME (EXPENSES), NET.................................................................................................................................................
85
28.
FINANCIAL INCOME (EXPENSES), NET ...................................................................................................................................................................
86
29.
STATEMENT OF INCOME BY NATURE.....................................................................................................................................................................
87
BRF S.A. | INTERIM FINANCIAL INFORMATION - September 30, 2020
2
30.
RELATED PARTIES - PARENT COMPANY ..............................................................................................................................................................
TRANSACTIONS THAT DO NOT INVOLVE CASH .................................................................................................................................................
90
33.
EVENTS AFTER THE REPORTING DATE .................................................................................................................................................................
90
34.
APPROVAL OF THE INTERIM FINANCIAL INFORMATION.............................................................................................................................
92
COMENTARY ABOUT THE COMPANY PROJECTIONS BEHAVIOUR ..................................................................................................................................
93
BREAKDOWN OF THE CAPITAL BY OWNER (NOT REVIEWED)........................................................................................................................................
93
INDEPENDENT AUDITOR'S REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION..............................................................................
94
OPINION OF THE AUDIT AND INTEGRITY COMMITTEE.......................................................................................................................................................
95
STATEMENT OF EXECUTIVE BOARD ON THE INTERIM FINANCIAL INFORMATION AND INDEPENDENT AUDITOR'S REPORT ....
96
BRF S.A. | INTERIM FINANCIAL INFORMATION - September 30, 2020
3
(in thousands of Brazilian Reais)
STATEMENT OF FINANCIAL POSITION
Parent company
Consolidated
Parent company
Consolidated
ASSETS
Note
09.30.20
12.31.19
09.30.20
12.31.19
LIABILITIES
Note
09.30.20
12.31.19
09.30.20
12.31.19
CURRENT ASSETS
CURRENT LIABILITIES
Cash and cash equivalents
4
4,501,817
1,368,980
11,398,587
4,237,785
Loans and borrowings
15
4,276,437
3,033,034
4,398,427
3,132,029
Marketable securities
5
311,048
396,994
313,091
418,182
Trade accounts payable
16
7,288,352
5,270,762
8,098,659
5,784,419
Trade and other receivables
6
6,497,572
6,153,937
2,894,853
3,090,691
Supply chain finance
17
1,121,372
842,037
1,121,372
842,037
Inventories
7
4,686,542
2,786,147
6,336,613
3,887,916
Lease liability
18
252,672
313,058
326,143
376,628
Biological assets
8
1,829,790
1,545,127
1,903,441
1,603,039
Payroll, related charges and employee profit sharing
1,044,425
754,032
1,089,380
825,254
Recoverable taxes
9
276,921
274,480
343,936
473,732
Tax payable
238,152
268,193
362,437
517,208
Recoverable income tax and social contribution
9
25,281
40,291
59,896
152,486
Derivative financial instruments
24
783,613
151,722
793,361
153,612
Derivative financial instruments
24
148,376
193,740
153,421
195,324
Provision for tax, civil and labor risks
21
1,067,456
1,081,103
1,071,964
1,084,308
Restricted cash
1
296,294
1
296,294
Employee benefits
20
87,996
87,996
97,596
95,919
Assets held for sale
15,637
16,671
35,659
99,245
Advances from related parties
30
8,868,203
5,364,164
-
-
Other current assets
364,104
495,743
495,714
590,733
Other current liabilities
249,885
329,166
752,965
512,591
Total current assets
18,657,089
13,568,404
23,935,212
15,045,427
Total current liabilities
25,278,563
17,495,267
18,112,304
13,324,005
NON-CURRENT ASSETS
NON-CURRENT LIABILITIES
LONG-TERM RECEIVALBLES
Loans and borrowings
15
18,535,617
13,395,970
21,616,002
15,488,250
Marketable securities
5
14,995
14,891
382,283
307,352
Trade accounts payable
16
6,402
12,347
6,402
12,347
Trade and other receivables
6
57,228
71,029
57,244
71,029
Lease liability
18
1,907,641
1,939,494
2,072,500
2,054,552
Recoverable taxes
9
5,253,866
5,167,016
5,253,842
5,169,547
Tax payable
176,808
190,257
176,808
190,257
Recoverable income tax and social contribution
9
55,025
264,428
61,637
269,263
Provision for tax, civil and labor risks
21
742,872
709,760
743,202
710,061
Deferred income taxes
10
1,983,517
1,808,494
1,999,083
1,845,862
Deferred income tax
10
-
-
129,212
85,310
Judicial deposits
11
565,287
575,681
565,364
575,750
Liabilities with related parties
30
41,039
960,056
-
-
Biological assets
8
1,097,795
1,016,642
1,169,365
1,081,025
Employee benefits
20
550,203
506,791
675,625
593,555
Receivables from related parties
30
339
234
-
-
Derivative financial instruments
24
21,354
3
21,354
3
Derivative financial instruments
24
223
49,991
223
49,991
Other non-current liabilities
279,674
482,109
286,972
1,093,942
Restricted cash
24,297
-
24,297
-
Other non-current assets
72,250
78,516
76,975
85,537
Total long-term receivables
9,124,822
9,046,922
9,590,313
9,455,356
Total non-current liabilities
22,261,610
18,196,787
25,728,077
20,228,277
EQUITY
22
Capital
12,460,471
12,460,471
12,460,471
12,460,471
Capital reserves
140,626
192,845
140,626
192,845
Investments
12
12,599,699
6,499,517
18,730
14,880
Accumulated losses
(3,522,245)
(3,996,985)
(3,522,245)
(3,996,985)
Property, plant and equipment, net
13
11,046,571
11,333,302
12,227,225
12,276,889
Treasury shares
(123,938)
(38,239)
(123,938)
(38,239)
Intangible assets
14
3,198,924
3,139,532
5,410,770
4,908,079
Other comprehensive loss
(1,867,982)
(722,469)
(1,867,982)
(722,469)
Attributable to controlling shareholders
7,086,932
7,895,623
7,086,932
7,895,623
Non-controlling interests
-
-
254,937
252,726
Total non-current assets
35,970,016
30,019,273
27,247,038
26,655,204
Total equity
7,086,932
7,895,623
7,341,869
8,148,349
TOTAL ASSETS
54,627,105
43,587,677
51,182,250
41,700,631
TOTAL LIABILITIES AND EQUITY
54,627,105
43,587,677
51,182,250
41,700,631
The accompanying notes are an integral part of the interim financial information.
BRF S.A.| INTERIM FINANCIAL INFORMATION - September 30, 2020
4
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BRF SA published this content on 09 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2020 01:20:08 UTC
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