The rise in revenue was driven by better sales at all business units, except the US poultry operation, where revenues remained stable. The quarterly highlight was in the Mercosur region, where revenues rose 15.8%, and JBS USA’s Beef and Pork operations, as revenues improved on the back of rising average sales prices.

JBS Couros, do not report stand alone figures but are recorded in the figures for Mercosur. JBS operate 25 tanneries worldwide and are the largest leather producer in the world.  

This meant that company EBITDA (profit before interest, income taxes, depreciation and amortization) rose 45.9% year on year to Real 2.4 billion. This result reflects the performance of pork and poultry operations in the US, where Ebitda increased 27.8% and 124.3% respectively, and at JBS Foods, with Ebitda of Real 440 million. US$1 = Real 2.28.

In the second quarter, JBS also saw exports increase. Between April and June 2014, the company exported US$4.3 billion, a 45% improvement year on year. Sales to Greater China, which includes shipments to China and Hong Kong, represented 18.5% of all sales, while trade with South America accounted to 12.6%.

During the same period, second quarter net profits were Real 254.3 million. This is 3.6 times higher than first quarter results in 2014, when the company announced net profits of Real 70 million.

Another quarterly highlight was the company deleveraging process. JBS continues to the process of reducing leverage that began in the fourth quarter of 2013, ending June with a net debt ratio to Ebitda of 3.15. This is less than the 4.03 reported at the end of the fourth quarter of last year, during the Seara Brasil acquisition.

“JBS’ results reveal a systematic increase in revenues, improved operating results and a consequent reduction in leveraging. All these factors mean the company is generating further value for all its stakeholders”, said Wesley Batista, JBS’ global CEO.