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SDA.N

ISIN: US7863261084
SEDOL: 2749000

Rating:

SELL

Target Price:

3.27 USD

Investment Horizon:

6 to 12 months
12th Dec 2008 View Report   Download

Company News Alert

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Sadia S.A.’s (Sadia) preferred stock price has increased significantly since our 3Q 08 update report, reflecting speculation that foreign companies view Sadia as an attractive acquisition target....

2nd Dec 2008 View Report   Download

3Q 08 Update Report

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Sadia S.A. (Sadia) recorded strong revenue growth in 3Q 08, higher than our estimate, reflecting greater-than-expected domestic and export market sales volume. However, Sadia reported an adjusted2 net loss for the quarter, primarily due to higher-than-anticipated net financial expenses. Although the company has taken short term loans at higher interest rates in…

13th Nov 2008 View Report   Download

Company News Alert

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Sadia S.A.’s (Sadia) preferred stock price has declined significantly since our supplement to the 2Q 08 update report. In addition to broader market movements, this reflects the impact of a debt rating downgrade by Moody’s, due to a significant increase in borrowing to cover currency derivative losses. Going forward, we anticipate Sadia to experience strong revenue growth on account of its aggressive investment strategy and…

30th Oct 2008 View Report   Download

3Q 08 News Alert

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Sadia S.A. (Sadia) recorded strong y-o-y revenue growth in 3Q 08. Revenues and operating profit were above our estimates, while adjusted1 net income was significantly below our expectations. We continue to expect Sadia’s revenue growth to be supported by strong demand for its products and increasing Average Selling Prices (ASP). In addition, we believe Sadia’s continuous efforts to increase its existing production capacity and its…

8th Oct 2008 View Report   Download

Supplement to 2Q 08 update Report

Our revenue estimates remain broadly unchanged as we continue to expect strong revenue growth, primarily due to the company’s expansion plans, acquisitions and its continuous effort to strengthen its brand name in both the domestic and export markets.

We have revised our margin estimates downwards based on our expectation of higher commodity costs, General & Administration expenses and interest expenses for the next coming years....