Solid first quarter results for JBS

Published:  15 May, 2019

The Brazilian meatpacker has posted a net income of R$1.09 billion (US$273 million) in the first-quarter of 2019, up +116%.

Total net revenue in the quarter was R$44.4 billion (US$11.16 billion), and EBITDA was R$3.2 billion (US$804,646); 14.4% higher than in the first quarter of 2018, with an EBITDA margin of 7.2%. According to JBS, approximately 75% of its global sales came from markets in which the Company operates and 25% from exports.

JBS Brazil, which includes its leather business unit, posted net revenue of R$6.8 billion (US$1.71 billion) in the quarter, an increase of 7.4% over the same period in 2018, with the number of bovine processed growing 2.9%. In the domestic market, net revenue was R$3.8 billion (US$955 million), a 2.7% increase year-on-year, with stable volumes and 3.6% higher prices, according to the meatpacker. In the export market, which represented 44% of this business unit’s sales, net revenue increased 13.9% to R$3 billion (US$75,440), with an increase of 8.8% in volume and 4.7% in average sales prices.

JBS USA Beef net revenue amounted to U$5 billion in the first quarter of 2019, up 1.4%. The Company said the results were affected by climate events that impacted the activities of delivering and slaughtering cattle in some of its facilities in the country. Nevertheless, cattle availability and demand for beef is said to continue to improve.