[Non-English content]. Hello, good morning everyone. Welcome to this meeting for the publication of results. I'm Juliana Matos, and it's a pleasure to be here with you. This transmission is being recorded and will be available at our website, ri.ourofino.com, and at our channel in YouTube. At the final of our presentations, we will have our Q&A. If you want to participate, it's only to write at Q&A, okay? We have a disclaimer to read to you. This presentation brings statements about future events that are subject to risks and uncertainties. Such statements are based on management's beliefs and assumptions of information of the company currently has access to. Statements about the future events include the informations regarding our intentions, beliefs, or current expectations, as well as those of members of the management board and company directors.
Disclaimers according to these statements and the informations about the future also include informations about possible and presumed operations results, as well as statements preceded by, followed by, or that include the words believes, may, will, continue, expects, anticipates, intends, plans, estimates, or similar expressions. The statements and informations are not guarantees of the future performance. They involve risks, uncertainties, and assumptions because they are related to the future events and therefore depend on the circumstances that may or may not occur.
Future results and value creations for our shareholders may differ materially from those expressed or implied by the statements made about the future. Many of the factors that will determine these results and values are beyond our ability to control or predict. To conduct this presentation, we have our CEO, Kleber Gomes, and our Financial Director and Investor Relations, Marcelo Silva. To start, our CEO, Kleber Gomes will start to talk. Good morning, Kleber.
Good morning for everyone. In this meeting today for our results at the second trimester. We start to talk about our context. We have a good business with a good growth in these last years with our markets that continues growing, and we believe in these drivers. When we talk about production animals, we know about some technifications in the fields, and sustainability is important too, and safety too. We talk about the companion animals. We talk about they treat the animals like members of the family, and this helps to expand these markets in Brazil and outside too. We are about to talk about the expansion of the portfolio, but talking about through the international part and the Latin America.
With the Mitsui in our company now, we start to explore other similar markets, mainly in Asia, and middle and long-term. This year we are in front of the factors. Atypical factors. A lot of things happened, and this impacted our business. We talk about this last year because this year was very difficult. To be honest, a little bit complicated than we imagined before. This is happening in our scenario, macro, that this stimulate the consumption because the inflation is very high.
Our taxes is high too, and this base for the companies, all the companies are less investments, and this happened with our clients too. They decide some actions that impact our sales. We saw specific segments. In the livestock, we have a lot of animals in the field. We have a problem with the foot-and-mouth disease in Brazil that stopped our exportation. This meat stayed at the internal market, internal market was at a decelerated consumption. This thing made the producer disincentivized to have investments in the future. We have another point to inform about a t he vaccination of aftosa, Brazil stopped to be obligated to have these vaccinations.
We don't have the aftosa disease in Brazil, but in 10 states in Brazil, today a lot of the quantity of the livestock in Brazil stopped to vaccinate. When we had this in the past, the obligatory vaccinations, this is very good for us because the producer used to tie to make the vaccine, to put all the medicines in the field too. Now we have a climatic change, probably with rain. When we don't have rain, the parasites do not appear. Talking about the swine culture, we have a problem too, because in the past, the food for this kind of animals is less, and now we have a better scenario. Companion animals, we have a moment when we saw the food cost is high now.
It's not a case of the medicines for the companion animals. We don't have impact at this, but the prescriptions are treated of the minimum at this time. We have impacted this in operations. This brings for us a semester that we did not intend to have. We are now not at the position that we want to be, but we know that this problem will not be forever, will be only a punctual problem. All these factors bring our numbers not so good that we want to have. We did some actions in our company to have less expenses and to control some expenses more than we had, and this helped to have a little bit better profitability. About the commercial issues, all the companies suffer the same impacts. Some more quickly, some don't.
We suffer directly the impact with the sales. If some help with work with some distributors suffer a little bit less. We are always looking for to be more competitive. The second semester is a strong semester, and they bring some fairs regarding livestock. We have the time for reproduction now. In the last years, we have anticipations for the sales that did not happen and are now. This is a big impact, and will happen now. We made the necessary actions to keep our positions of leadership. Whilst this is a year more difficult, we are in front of a little bit of growth. We have made our actions to reach the profitability levels. There are a lot of factors. We believe this will not be extended too long. We saw a record for slaughter females, and this is a part of the livestock cycle.
We know that the things will be better, because now the tax is more little bit not so high. We know that this will bring to us better sales, not in campaigns, but more regularly. We are prepared to continually growing. That it is we are looking for all the time. At this moment, we want to say that our company is very structured, financially structured, has a good financial history. We have good generation of cash. We are totally very calm with our financial situation that allows us to pass for this moment with tranquility. In Ourof ino, we continue to believe that our purpose to reimagine the animal health, to bring the productivity at the field, and to continue the relationship with companion animals and with our values, too. With our work strong that we development, we have actions at our company.
We have a good research and development strong, a good people working with this. This year we continue with these points because we are recognized as a second company to help at the agribusiness. I had a fair in Castrolanda , because it's a fair about milk, Agroleite. We won a premium that about the Agroleite is a sector very important in Brazil. We had a launch at Banni Antipruritic for cats in reinforce about our growth because cats is growing more than the dogs.
We have another launch at Londrina because it's additional scent products that we believe is okay. Now Marcelo will talk about you, about the financial results. We have a relevant revision about the tributary area is a subvention about the income tax. We had a consolidation position. We have a reversion about this scenario, and we did a provision. Marcelo will talk about better like this. I will be back at the Q&A reply, okay? Thank you for now, everyone.
Thank you, Kleber. Before Marcelo will talk, I want to say that if anyone wants to participate with any questions, is only write at Q&A and write your question because at the end of the presentation, we will reply all of them. Now, Marcelo Silva is our Financial Director. Good morning, Marcelo.
Good morning, Ju. Good morning, Kleber. Sorry, because I had a flu. Let's continue our meeting. We have a cash generation record. This show our capacity to adapt at the times when sales is difficult. The company has the flexibility to revisit the projects and prioritize the actions. We talked about this before because we made action to reduce the stocks, because at the pandemic time, we had a good stock on the principal products. Now we are in reduction with the stock. We have a generation of cash about on BRL 64 million. We had a reduction of leverage to 0.8x of the EBITDA.
We have a strong point, medium cost capital, 10.9%, that combined with a composition like the debt in the long term, and this per se, 30% are above five years. We have a possibility to continue growth. About this growth, we can think about the launch of the new products. We are always in the face of the market share, actuating better in the field and the fairs and the events, and always looking for our clients because we always looking for the clients.
Talking about the Kleber talking with you. The company asked to use this benefit about the tax income tax. On April 26, that conclude that the benefits, fiscal income tax and the reduction in ICMS will be excluded in the income tax if we observe the Complementary Law, this made a change in relation with the Pacto Federativo that support security juridic. Considering this is a change in the tribunal, the company had a communicate at the market on April about the decisions. Considering that this judgment happened before the first trip, our experts didn't have the opportunity to assess and at that time, we don't have a reason to change the possibility of gain to probable. We don't have the provision in that trimester, we made a explicative note saying and explain all the reasons at the 2019 until 2023.
We made a explicative note demonstrating this effect. On June, this was published, with the judgment, our experts revised this position and the position of the second trimester, we have BRL 32 million, BRL 69.8 is income tax and BRL 2.5 million is monetary adjustments. This is a period between 2019 and 2022. These parcels is exercised outside 2023. These numbers in release is adjustment about these effects, is present in the financial results in the company. The company keeps a security document and this prognosis results in the position. We keep this security mandamus , favorable mandamus . Any news, I will inform you about this thing.
Any questions. If you have any questions, we have a lot of informations. If you have any questions, you can write and we can. About consolidated resources, talking about the receipts, we have a not good performance to sales when you compare it with the last year, compare it with this year, the first trimester, we have a recovery of sales. We close the semester with -17% but we have an accumulated of 8.8% regarding with the net revenue. We have a pressure with a gross margin because we have a 50% for 43.5%, the company has some actions to not have this loss at the gross margins regarding with structure of the logistic supply chain, we have a reflect about this in the second semester.
In the production animals and three, the results is 3.3% less regarding the last year, the same period, the accumulated is 11.1%. The problem of sales is North of Brazil. The problem is there because there we can talk about the aftosa vaccines that not obligated anymore. The clients is working in the reduction of stocks because the taxes is always growing during the year. The first semesters we have impact regarding the rain because it's not raining in the first semester, now the return of the rain is good for us about the gross profit was a little bit prejudiced when we compare the same period of the last year.
Companion animals, we have a growth around 3.9% at this semester and we understand about this growing is reflected at the segment at the second trimester because it's adjusted market growing because the way of life from pandemia is changed. Accumulated at the year, we have a loss of 4.9% and functions of the reduction of the products. In international operation, we have a growth 3.4%, but looking at Colombia, grow a little bit more higher. We have a virtualization of the peso Colombiano. Mexico, we have a growth, not so high, but a not so good performance of sales for other countries. When you compare of the last year, 9.2%, and this reflects the mix commercialized at the period. SG&A of the company. We had in the second trimester a scenario of sales, a challenge.
A challenge because the reduction of expenses and we have the impact of the second semester and this impact will be seen at the other semesters. We talk about 28.8%, but SG&A is growing 1% at the period, is less than our inflation and reflects the better sales. There are actions too, because we made some actions to reduction this. We understand that at the second semester will be better, the things will be better regarding our actions. We keep the schedule about the investments and R&D. The less value here about 2022 is not referring about the recirculation, is connected more than with the stage of the products because they are not the same in the periods, but the work in the research and development is prioritized because they generated values for the company. The adjusted EBITDA is a little bit less than last year.
In accumulated in six months, 49.2%. Generation of cash, we have BRL 165 of generation of cash. In this period, I ask generation to get a growth in the generation of cash. Capital structure, we have leverage reduction when we compare in the last year, the same period. We keep the structure of capital that is very aligned with our investments agent schedule. It's natural that we have a relevant parcel about the funding about this topic. The structure of capital, we have situated. It has 75% in the long term, and this 75% is a relevant parcel. From five years, we took actions talking always about this. Thank you for your time. Put your questions here at the Q&A, and we are available to reply you any time. Ju, it's your time.
Thank you, Marcelo. We are reply for the questions at the Q&A, but I invite you. If you want to talk, to ask anything, you can write at Q&A to make some questions for us. Kleber will reply to you about these questions, okay?
Thank you, Ju. We have three questions. Two from Alex Stefanelli and one from Ana Paula. Alex is asking, What is actions from the ESG of the company? There is nothing in the presentation about this theme so important. Yes, Alex, the ESG is very important for the company. We made a lot of actions related, and I want to talk about our sustainability report, which was a winner at the Abrasca Prize in 2022 regarding 2021, and was disclosed together with the financial information, and there are a lot of information regarding this topic.
The company adopted the better practices. In the environment point of view, we are always looking for actions to mitigate our carbon footprint. We have a lot of actions that we made are totally compensational about the package and the market. We have a lot of actions. We use energy from renewables. The social points, take care of people, we have a lot of actions, and this year we have a big voluntary group that made a food campaign, a clothes campaign through winter, for milk campaign, blood donation campaign inside the company. We have a lot of actions, a project to supply the education of teenagers that are going to the school. We have internal projects with these teenagers. We have a lot of actions, and the actions are disclosed at our report of sustainability.
We talked about this last year at Ourof ino Day, about the material teams. It's six teams. I don't talk about the details from each one, but all of them is very delegated at our report, and we always looking for this team at our company. Your company, if the investments, if R&D is related about what unit of business. It's all of them. Production animals, mainly the cows and swines, companion animals, dogs and cats, but we have a big work regarding the register the products outside Brazil. We operated in countries with sanitary challenges like in Brazil. We develop these products from the Latin America, we continue with the register with other companies and the products that we develop, we are made expansions of work now to register outside Brazil, and we are investing in these countries in Latin America.
Thank you for your questions. We have here one question from Ana Paula. What is market share of the company? The company ended the year, last year, and the other years we have in the fourth place. Now, the last year, we third place, and we have a market share 9.95% when you're looking for everything. We have our products and markets, and we have opportunities to develop new products, mainly in the biological products. This will be continually growing. I will talk about, for example, for the production, the artificial insemination at a fixed time for the bovines. We finished the year at the leadership in this segment. The parasitic medicines at this moment. We have less use because the aftosa vaccinations, but we are a leadership at this market around 50%. This is the bigger challenge in Brazil.
The parasites will always be here existing, but this is more than regarding about the regularizations and the companies that sell and the medicines. This is a little bit about our visions. If anyone want to put any question here, I will be available to reply. If you have any questions, you can ask to us anytime. Caio asked, how is the beginning of the second semester? It's possible to see some signals to this sales rhythm. Yes, this thing is better. The second semester show us a recuperation. Not so closely that we want to see, but it's showing us a little bit recuperation. I don't believe that these all elements will be solved in the second semester, as I told you before. Regarding marketing at the production time, the rainy time, and talking about the parasites too. In July, we saw something better, and we believe that it continue things better at the continuing of this year. We have actions by plan? No, we don't have. We have always evaluated this, but now we are looking for our strategic point and where cash is. Now we prefer to have a conservator cash, so any actions open.
Thank you, Kleber. As Kleber told us, our team is available always for you for questions or doubts. Remember that these transmissions will be available at our website, ri.ourofino.com and our YouTube channel at Ourof ino Saúde Animal. I want to say thank you for everyone, for your presence here, and remember that our company is open to live our values together to you. Kleber will be here to say to you, as you saw, it's a moment to a good work, a hard work.
Everything that we did is talking about the profitability of your actions, and we know that the trust with you because we trust with us in this last years. Now we have a punctual moment about these factors, but it's a moment that we will have a strong actions and good visions and made the realizations and all the things, working hard with a good expectations about the market, and we have our good drivers are growing. We feed the world. We help the mental health of the people regarding the companion animals. We continue here with a good work. Thank you for everyone. See you