MBRF Global Foods Company S.A. (MBRF3) Earnings Call Transcript & Summary

Good morning, everyone and thank you for waiting. Welcome to Marfrig Global Foods S.A. first quarter conference call. With us here today, we have Mr. Marcos Molina, Founder and Chairman; Tim Klein, Chief Executive Officer of North America Operations; Mr. Miguel Gularte, Chief Executive Officer of South America; Mr. John Pinto, CEO of PlantPlus; Mr. Tang David, Chief Financial and Investor Relations Officer; Mr. Paulo Pianez, Sustainability and Communications Director; and Mr. Eduardo Puzziello, Investor Relations Director. This event is being recorded and will be started directly in questions-and-answer session. [Operator Instructions]

[Operator Instructions] Our first question comes from Mr. Ben Theurer with Barclays.

Congrats on the results. My question would be regarding South America. I mean the profitability there was impacted, of course, and you mentioned gross profit because of the raw materials headwind as the main cause. But if you could give us a little bit more guidance on that, what are you expecting for the rest of the year? And what is the current trend? Yes. Do you -- hello? Can you hear me?

This is Tim Klein. I'm still on. I'm not sure about South America. [Audio Gap] improves and our exports to China that are active. In Q1, we had a recovery of our exports to China. Brazil is exporting again. The same thing happens to other geographies, Argentina, Uruguay and [ Chile ]. [Audio Gap]

[Operator Instructions] This concludes today's question-and-answer session and does conclude Marfrig Global Foods S.A. conference call for today. Thank you very much for your participation and have a nice day.