Hello. Good morning, everyone. Welcome to our results call of the third quarter 2024. I'm Marcelo, I am the financial manager, and I deal with the financial investors. Along with Kleber, we are going to provide you the results of the third quarter 2024. I'm going to hand over to our CEO, Kleber Gomes, who is going to introduce and he's also going to be talking about the strategy, the positive results, and he's going to provide an overview about the organization itself.
Good morning, Kleber.
Good morning, Marcelo.
Thank you for your quick introduction. Good morning, everyone. It's a pleasure to be here talking with all of you, talking about Ourofino organization. It has been a very positive quarter in our view, the growth, new businesses, developments, cash flow, profitability, improvement of our growth.
The fourth quarter, we have a very good prospecting in order to be really good. We are going to conclude a very good year for the organization. We have had a lot of changes. We have been growing and improving our staff and well-controlled expenses since 2023. We have been talking about rationalization plan; we are quite happy to announce that this plan is working well. Also, strategic businesses that have been established and we are going to comment on this. A new strategic planning cycle, and soon we will provide you information about it. It has been a very good year for the organization, and we have been having support from our actions, our partners. They also have been supporting us along with the steering committee.
Along with me, we have had innovation committees that were really good. We're also talking about the projects for the next year. We also have external consultants. Everything is working fine. We understand that the organization is in a very good moment. The market, we know that our main market, the bovine culture, we haven't had easy years, because last year was somewhat complicated according to the costs of the animals. We also had the drought and floodings issues. For the next year, we see a very good environment. We have had a very good improvement for the agricultural field. In the agriculture field, we are having positive cycles and the use of technology has been improving, has been very intensified. This year, and by the next year, we are going to have a very positive cycle.
We've seen a record of exportation considering China. We also had an internal measurement, so it's really important. This year we had a very adverse climate change. Even though we were able to have a recovery considering last year and considering the growth itself, the pet market post-pandemic it's good. It has been a very positive market. We have been having growth in this market as well, and we have this recovery from Ourofino. Also international actions. We had our production line. It's really important and it's really good at this moment. We went through some complicated moments, but we are now going well. Production animals, we have a very good scenario. For national results, we are having these numbers, figures, and it was somewhat difficult in Mexico because of the drought. Even considering the antiparasitic line of products.
As for other countries that we work and operate through distributors, we have been having results, and it is aligned with what we were expecting. We have had some difficulties of maritime logistics due to the crisis of containers and ships. This is the only pain point, this alert. We are going through. This is a macro scenario. I am going to provide you the highlights. As you can see, the third quarter 2024, you know that this year we had the discontinuation of the vaccine of foot-and-mouth disease. We have 11.2% in the third quarter 2024 and 8.5% nine months 2024. It has been positive and Marcelo is going to provide you some details. Also, if we compare the EBITDA, the gross margin.
I also like to say that the launching of the products we have here, these launchings of products. By the end of this quarter, we have not had a lot of developments for this, so we are working on it. We have launched two products for swine. The vaccine SafeSui Glasser One, it is for Glässer's disease . It is the very first vaccination, single dose. It is going to be really successful. Organizations, they are conducting the tests in order to have the homologation of this product. For sure, this is going to be really successful. As you can see here, the swine, bovine and swine, they are two different products. This is an analog of the substance, and we have different applications in the industry. Once this removes the stress of animals.
We know that we have zootechnical losses and that this is going to be really good for the market. These were the two products that we have launched for swines and for bovines. FerAppease bovine. We have had really good results. It has been well-established and FosBion B12. It is a vitamin that provides energy for animals, and it is going through different sanitary surveillances. In Argentina, the CDV Feedlot Plus, it is a respiratory vaccination. For animals of the organization, we have the EnziClim, that it is a biological agent that removes the odor of animals in carpets. You can use in carpets and other areas. It has been well introduced. It is HerboVet, it is our disinfectant. We also recently launched Banni. We know that we have a Banni 3, sterile. Banni 3 is for cats, three active ingredients and now we launched Banni for dogs.
These are two active ingredients for scabies and other diseases. These are for our POS products and our strategies, and we are pretty sure that these products will be strengthened by the next quarter. We also have had acknowledgment. We are in the third position considering the Top 100 Open Corps 2024, and it is an innovation ecosystem. We have different products in our pipeline and in the future.
Can you see me now?
Well, as considering the figures, production animals and foot-and-mouth disease, fever, animals growing 13%, the cross margin more than 5% of products of percentage points. We know that last year we had profitability loss, but considering these levels, we are then having historical figures and increasing our revenue. We had our EBITDA, and now we are just finishing this quarter with 1.6. More importantly, we have a very good quality. We have been working with good financing lines in BNDES, our developments, long-term lines, and capital costs. We've concluded the quarter 7.5 and also considering this cost, all the guarantees, all their banking guarantees. In fact, our financial health is good considering financing and allocation of capital.
I'm going to hand over to Marcelo, and he's going to provide you an overview, and I will return for the questions and answers. Once again, all the work that we have been developing, I would like to thank our partners. We have been working quite a lot in order to achieve these figures that are very positive. Thank you. Marcelo.
Thank you, Kleber. I will follow Kleber's comments and reinforcing the growth 11.2% consolidated in the quarter 8.5%, nine months. This market is in phase of transition. It's very expressive and also highlighting the growth and expansion of profitability that we have been having in the accumulated of nine months. We have an extension of the market. Our EBITDA is more than the gross and the net revenue is good. This is due to our work, operation and best input business negotiation. We have 11.2% of growth. Our EBITDA in the quarter, we have 36% against 11% of the revenue, more than three times of this growth, and also the gross margin. Our gross profit, EBITDA 72%, nine times more than the net revenue. A very good recovery process for the organization, and we will still have that for the next quarter.
The graphic of gross margin Kleber mentioned about numbers. It's our figure that we have been having the last years, and it's a reflect of our work. The organization is growing without losing its position on the market and always seeking for the efficiency of the operations, good input, and good expenses for the growth of gross margin. As for production animals, that's our segment of the organization. Bovines and swines 9.2%, BRL 2 million, 8.9% accumulated nine months. We have adjusted for the foot-and-mouth disease, a fever, our gross margin 46% the last quarter. Our growth, we have this margin improved for bovines and also for swines and poultry. We have a business unit, independent, and we are able to have more. We are leveraging this.
As for our launchings that we introduced, we are not having a lot of impact due to the date of the launching of these products, but we are capturing the additional value for the growth. We have a prospecting for this by the next year. As for the animals, we have 25.9%. It's a very strong growth. It's above the market, at 19.6% in the accumulated. Aside of the growth of our revenue, we also have the gross margin, 68% in this quarter. This is also a reflect
The maintenance of organization. We are also having a very healthy level and a very good balance that we have accessed a large part of our market considering our distribution network. In the international area, we have a challenge, even considering the rollout of load ships for Central America. Part of this revenue is for the fourth quarter, and we are making all efforts in order to mitigate this issue. By 2025, we want it to be improved. The operation, we will have less volatility. We have had the Panama Canal problems and all of that. We wanted this to be reduced by 2025. In Mexico, we are having a lot of drought and climate change, that's why we had these problems.
Even with these adversities, we have growth and we are having a very good aligned margin considering 2022 and 2023, and considering the quarter and the accumulated. We have strongly worked in order to have an optimized work. We have our expenses 33% to 23%, and our total expense was BRL 200 million in two consecutive periods. 2024 expenses are lower considering last year, and that is due to our constant and optimized work. The margin expansion and the reduction of expenses that allows the organization to keep growing and having a good investment for the POS. Our total investment, BRL 78.8 million. We've amplified in 2024 our investment, and we started to see the results considering the launching of products that Kleber introduced. The expansion of margin, even considering the P&D, we have 30.7%, and the quarter had 45% in the accumulated of nine months.
This growth, BRL 138 million EBITDA and BRL 137 million in 2022, and the combination of the growth with the EBITDA margin, it makes the organization to have a very good relevant cash flow in the accumulated period of nine months. Considering the revenue, we've had an amortization, BRL 95 million. We have this turnover. We also, during the pandemic, had a different scenario, but it was very relevant for the first quarter of 2020. We then strengthened these actions. By the next years, we were having deamortizations. The third quarter of 2024, all of our debt today is in very suitable operations considering the investment and the productive expansion. Once we amplify our product launching, and we also have the need to invest, and also considering biological products and our ongoing agenda for point of sale.
Kleber mentioned, the leverage of the organization is 1.6x EBITDA, and with this reduction, the maintenance of the debt, it's in a good level. We had 7.5% of the conclusion for September. It's a low debt for Selic tax. It's a suitable debt considering our cost of investment. We have this suitable, appropriate debt. We are in a comfort zone in order to invest in our innovation agenda. 40%, we have very good capital investment. These are the figures. I will hand back to Kleber, and it will be open for questions and answers.
Thank you, Marcelo. We have here two questions from André Prates. I will read it here and then I will answer. In case you would like to ask anything, please put on the chat.
The first question is: what is the potential of exportation of Glasser One on markets that Ourofino is not participating yet as U.S.A. and Europe. We recently launched last year the Mycoplasma swine vaccine. It's been well accepted on the market. It's the best vaccine on the market and the Glasser One we've tested, and we know that it's going to work well, better than other vaccines. We've left for February next year. We are going to launch another product that is going to be really good for the swine. More than that, in our pipeline, we have other important products, and we understand that we have a very good potential for the market, where we act on the market. We don't have the decision of the best business model, but probably we might be seeking for partnerships for this market.
I would say that Ourofino we have a very good potential for some products, and we will be able to explore, considering the alternatives that we will define this year looking forward. We are not able to mention the figures for Glasser, but as for the swine culture, we know that Asia, China and Canada, we have different countries that we have a very strong potential for swine culture. We understand that it would be a really good market to be explored. Second question from André. Can we mention anything about the impact of the agribusiness? This we have been considering. We started this year, and we had a very complicated time in September, October. We are now having a very interesting number now. We didn't have any perceptible impact of the price of the arroba.
That this year and last year was tough years for the agribusiness, even considering the protocols of hormones for bovines. We had a loss of 30%. As for the price, the cost, it's also the cost of the calf. I see that by the next year, it's going to be a very positive year for the production of calf. We as a participating organization, I see a stronger recovery for the production considering the cost as organizations, they operated with stress numbers, satisfactory numbers, but very stressed. The last few weeks, we don't have anything that we can measure. I understand that we don't have any more questions as I can see here on the chat, I just would like to have our thanks.
Once again, we are having a very strong work and we have been improving in all areas of the organization, even considering this stressful moment. We had change in structures, staff, departments, and we are now being very fruitful. Of course, we need to stick on tests and we still have a lot to do. We have new opportunities to be explored and we are going to be capturing these launchings. This year we ran different pilots. We've got new products, and these products are going to go into different processes. We have new launchings and we also have regulatory issues, but we are very confident considering this work. I would like to thank our team, the management areas, our partners, financial partners, business partners, and also the reliability that we have been having from you, your trust.
Thank you once again, pretty soon I will be here again in order for us to talk about the next quarter results. Thank you once again. Of our quarter results. Thank you. See you soon