JBS net income more than triples in 2021

Worldwide
Published:  23 March, 2022
Credit: Valerio Pardi/Shutterstock.com

JBS SA has announced its fourth quarter and full 2021 results, achieving net revenue of R$350.7 billion (US$72.25 billion) in 2021, a year-on-year increase of 29.8%.

The company reported adjusted EBITDA of R$45.7 billion (US$9.42 billion) and net income of R$20.5 billion (US$4.23 billion) in 2021, increases of 54.5% and 345.5% respectively.

In the fourth quarter alone, JBS reported net revenue of R$97.2 billion (US$20.04 billion) (up 27.8%), adjusted EBITDA of R$13.2 billion (US$2.72 billion) (up 86.9%) and net income of R$6.5 billion (US$1.34 billion) (up 61%).

JBS USA Beef achieved net revenue of R$146.6 billion (US$30.22 billion) in 2021 and R$41.9 billion (US$8.64 billion) in the fourth quarter, up 30.7% and 38.2% respectively, while JBS Brasil reported net revenue of R$53.8 billion (US$11.09 billion) in the full year and R$14.1 billion (US$2.91 billion) in the fourth quarter, up 29% and 5.1%.

Notable achievements for JBS in 2021 included creating its Diversity and Inclusion Committee, linked to the Board of Directors, announcing its commitment to become net-zero by 2040 following criteria established by the Science-Based Targets Initiative and launching the Transparent Livestock Platform, a tool that uses blockchain technology for cattle traceability to monitor the entire Brazil supply chain by 2025.

The company announced seven acquisitions in 2021: Vivera, the third largest plant-based producer in Europe; the Kerry Meats and Kerry Meals business of Kerry Consumer Foods, renamed Pilgrim’s Food Masters; HUON, an Australian salmon aquaculture company; Spanish company BioTech Foods, which focuses on cultivated protein; Sunnyvalley Smoked Meats Inc.; Australian hog breeding and processing company Rivalea; and Italian charcuterie producer King's Group.

Gilberto Tomazoni, Global CEO of JBS, said: “The past year included several great achievements for JBS. We have excelled in our purpose to feed people around the world, providing the best products in a sustainable way. At the same time, we invested in strengthening the foundation that will fuel the company's growth in the coming years.

“JBS, previously a Brazil-focused company specialising in one type of protein, has evolved into a global food company with a diversified footprint that includes a vast portfolio of strong brands and value-added products. Within this context, 2021 has set the stage for JBS’s trajectory in the coming years.”

The full earnings release can be found on the JBS website.