Welcome to the management comments on the results of the third quarter 2019 of Camil Alimentos. In the last few months, we moved forward with our initiatives to reduce costs and expenses, in addition to making adjustments to our operations to reach a new growth cycle. The results started to show annual growth of grain sales volume in Brazil and quarter-on-quarter volume recovery in the international segment and sugar in Brazil. On the financial side, we posted a quarter-on-quarter increase of EBITDA growth and net margins. In Q3, we noticed a slight improvement in the competitive landscape in the market and a gradual and modest improvement in the capacity to transfer raw material increases to prices. Net revenue in the quarter was BRL 1.4 billion, up by approximately 14% when compared to the same period of the year before.
The double-digit growth in the period stemmed from higher sales volume in Brazil and the incorporation of SLC Alimentos that allowed us to expand our leadership in the grains market. We point to some of the highlights of the quarter. Gross profit of BRL 343 million, up 7%, with a margin of 23.7%. It is worth mentioning that there was a quarter-over-quarter margin recovery of 0.6 percentage points, driven by a gross margin growth of 1.2 points in Brazil. EBITDA total, BRL 133 million, down by 12.2% with a margin of 9.2%. When compared to the adjusted EBITDA of Q3 2018, the same indicator posted an increase of 15.2% with margin growth of 0.1 percentage points. We would also like to highlight the EBITDA margin quarter-over-quarter recovery of two percentage points. Net income of BRL 66 million, down 56% with margins of 4.6%.
When compared to the adjusted net income of Q3 2018, the same indicator was down 7.9%, posting a margin reduction of 1.1 percentage points. It is worth mentioning that the net margin posted a Q-on-Q recovery of 1.3 percentage points. Starting the analysis of the quarter with our operating results, the rice category had a volume that reached 194,000 tons, growing 45% in the quarter, boosted by volumes stemming from the acquisition of SLC Alimentos that added 54,000 tons in the period. Excluding the volume from SLC Alimentos, we posted 140,000 tons, up 4%, but in annual comparison was impacted by sales recovery from both Camil and the lower pricing brands. The average market price of raw material was BRL 45.98 per bag, up 5%. Gross price was BRL 2.53 per kilogram, down by 3%, and a net price of BRL 2.26 per kilogram, down by 0.4%.
In the beans category, volume reached 22,000 tons, growing 11% on a quarter. In a year-on-year comparison, growth was boosted by volumes coming from SLC Alimentos brands that contributed with 6,000 additional tons in the period. Net of this effect, volume totaled 16,000 tons, down by 21%, mainly impacted on a year-on-year comparison by the drop in sales of the Camil brand and from the lower pricing brands due to price increases during the period. The average raw material market price reached BRL 166.91 per bag, up 67%. We noticed a rebound of price volatility in the category stemming from variations in beans production in the period. Gross price was BRL 4.18 per kilogram, an increase of 27%, and a net price of BRL 3.81 per kilogram, also growing 27%. In the sugar category, volume reached 130,000 tons, down 3%.
In the annual comparison, volumes were impacted by the sales decline coming from lower pricing brands and sales growth of the União brand. It is worth mentioning that in a Q-on-Q comparison, we posted 9% growth accounting for the normalization of raw material supply, even though sales recovery was gradual due to the interruption of supply experienced in the second quarter 2019. The average market price of raw material was BRL 63.91 per bag, a decline of -0.5% in the quarter. Gross price was BRL 2.33 per kilogram, up 12%, and net price was BRL 2.04 per kilogram, up 13%.
In the fish category, volume totaled 10,000 tons, down by 2% in the quarter, impacted by a decline in annual sales of the Coqueiro brand and sales increase from Pescador lower pricing brand with a sequential sales growth stemming from the Lent pre-seasonality. Gross price was BRL 20.37 per kilogram in the period, meaning an increase of 2%, and net price was BRL 15.95 per kilogram, up 4%. We continue to experience difficulties with local sardine fishing, while on the other hand, there was an improvement in local tuna fishing. In the international segment, sales volumes total 176,000 tons in the quarter, meaning a 2% decline due to lower sales in Uruguay, partially offset by continued sales in Chile and Peru. In a Q-on-Q comparison, the 21% volume growth stemmed from sales recovery in Uruguay. We understand that these results fall below our expectations and capacity to exploit our competitive advantages.
We believe that we still have a long way to go and continue to work diligently to make the necessary improvements to make sure our future results keep us on the right direction. We are constantly seeking to anticipate trends and to further strengthen Camil's position of being the consolidator of the food industry in South America. To elaborate on this quarter's financial performance, I will give the floor to Flavio. Please, Flavio, you may proceed.
Thank you, Luciano. Welcome to the comments related to the third quarter results. With the analysis of the financial performance, gross revenue reached BRL 1.7 billion in the quarter, up by 13%, and net revenue totaled BRL 1.4 billion, up 14% when compared to the same period of the year before.
This result was mainly due to a 17% increase in net revenue in Brazil, owing to the incorporation of SLC Alimentos and grains volume growth in Brazil. Net revenue growth in the quarter was also driven by an 8% increase in the international segment, attributed to the foreign exchange impact in the period of BRL 22 million and sales growth in Chile and Peru. Cost of sales and services reached BRL 1.1 billion, growing 16% due to a 19% increase in COGS in Brazil, mainly driven by the acquisition of SLC Alimentos, grain sales growth in Brazil, and grain average prices in the market, whereas rice posted 5% growth and beans 78% growth. COGS was also driven by a 10% increase in the international segment due to sales growth in Chile and Peru.
Taking all that into consideration, gross profit totaled BRL 343 million, up 7%, with a margin of 23.7%. The highlight was the 0.6 percentage points of quarter-over-quarter recovery of the gross margin due to a gradual improvement in the capacity to transfer prices in Brazil. By adopting additional measures to deal with the competitive landscape and boost our growth process, we developed projects and deployed short-term measures to resume our competitive base and increase the efficiency of our operations. Having said that, we now move to SG&A in the quarter that reached BRL 244.3 million, a 6% increase accounting for 17% of the quarter's net revenue. This indicator is 1.2 percentage points lower vis-a-vis Q3 2018 and reflects a more integrated operation and the efforts undertaken to promote the redistribution of our plants and the logistic grid.
We continue to pursue our plan to control costs and expenses in the period, coupled with a realignment of our internal structure. As for SG&A, sales expenses reached BRL 164 million, 3% higher, mainly due to a 5% increase in sales expenses in Brazil, attributed to the acquisition of SLC Alimentos, also higher freight expenses, and increase of sales commissions in the period. This result was partially compensated by lower expenses with promotions and advertising campaigns. As a percentage of net revenue, expenses were down by minus 1.3 percentage points as a result of the company's efforts to reduce costs and expenses in the last 12 months. Growth was partially offset by a 0.5% decrease in sales expenses in the international segment. As a percentage of net revenue, expenses were down 1.1 percentage points in the quarter due to the reclassifications of SG&A in Chile.
Net of this effect, sales expenses grew in the period with higher expenses in Uruguay, Peru, and Chile, also attributed to a BRL 2 million impact caused by foreign exchange in the period. General and administrative expenses totaled BRL 80 million, up 12%, mainly attributed to an 8% increase in expenses in Brazil, stemming from the acquisition of SLC Alimentos and the new sugar packaging plant, Superba. In terms of a percentage of net revenue, expenses were down minus 0.5 percentage points in the quarter as a result of our initiatives to reduce costs and expenses implemented last year.
Growth was also driven by a 35% increase in general and administrative expenses in the international segment due to the reclassification of expenses in Chile, as mentioned before, and also by higher expenses in Peru and Uruguay. It is worth mentioning that higher amortization and depreciation expenses in the period stemmed from the adoption of IFRS 16, which was partially compensated in the line of general and administrative expenses by rental expenses in the period. In regards to other operating expenses, it totaled BRL 0.5 million vis-a-vis a revenue of BRL 39 million in Q3 '18. It's important to mention that the comparative base was affected by the recognition of revenues from tax credits, among other non-recurring effects. We present a comparison of our main indicators vis-a-vis the adjusted result of Q3 '18. Taking these factors into account, EBITDA was BRL 133 million, down 12.2% with a margin of 9.2%.
When compared to adjusted EBITDA of Q3 2018, the same indicator was up 15.2% with a margin growth of 0.1 percentage points. I would like to highlight the sequential recovery of the EBITDA margin of two percentage points. In regards to the financial results, we posted expenses of BRL 19 million vis-a-vis adjusted expenses, excluding non-recurring ones of BRL 22 million in Q3 2018. This result was mainly attributed to the recognition of interest on leases in the period. Interest rate and social contribution reached BRL 12 million, or 14.8% of the result before taxes. This was mainly due to the exclusion of BRL 11 million related to ICMS subsidies. With that in mind, net income in the period totaled BRL 66 million, down by 56% with a margin of 4.6%.
When compared to the adjusted net income of Q3 2018, the same indicator posted a drop of 7.9% with a margin reduction of 1.1 percentage point. The highlight is the quarter-on-quarter 1.3 percentage point recovery of the net margin. Earnings per share was BRL 0.18, up 2%. It is worth mentioning the reduction of the total shares of the company to 370 million common shares attributed to the cancellation of treasury stocks after the conclusion of the third stock buyback program last November. We highlight the importance of the amount paid to our shareholders with this transaction. As for the company's debt position, our net debt was BRL 1.6 billion, up 69% vis-a-vis Q3 2018.
This increase between periods is attributed to the acquisition of SLC Alimentos, the issuance of another CRA by the company last April amounting to 600 million BRL, and the third stock buyback concluded in November 2019. The buyback transaction was done in 3 stages, totaling approximately 30.6 million shares held by an investment fund from Warburg Pincus. The foreign exchange depreciation of the international segment also led to higher indebtedness of 39 million BRL in the period. Total liquidity was 486 million BRL. With that, our net debt over EBITDA ratio was 3.7 times in the quarter. Moving to working capital, it was 1.9 billion BRL, up by 16% vis-a-vis the year before. This increase was mainly attributed to a 5% increase in inventories with the acquisition of SLC Alimentos and higher grain inventories in Brazil.
The result was also boosted by prepayments to suppliers, which posted a plus 31% increase due to the expansion of development program in Brazil stemming from the acquisition of SLC Alimentos accounts receivable that grew 34% due to sales in Uruguay in the period. The result of the quarter was also impacted by a 25% increase in the suppliers line due to the compensation from accounts receivable from the operations in Uruguay and the acquisition of SLC Alimentos in Brazil. CapEx was BRL 56 million in the quarter, growing 31% due to investments in the Superba project related to the internalization of the sugar packaging plant, as well as investments in drying and storage and other technology corporate projects, among them, the implementation of the new sales system, Salesforce, the BI system, and the new supply system called Ariba.
We would like to inform you that this audio is available on our IR website together with the rest of the release materials, with the purpose of anticipating our comments to facilitate your understanding and make better use of your time during the Q&A session related to our earnings conference call. Luciano, the investor relations team, and myself are available to answer your questions on the results of the period during our conference call that will take place on January 10 at 11:00 AM, Brazil time. Whenever you need additional information, you can talk to our IR team through our communication channels. The link to the webcast and connecting information are available in the company's IR website. Thank you very much.