23 May, 2018 - 25 May, 2018
24 May, 2018 - 25 May, 2018
29 May, 2018 - 31 May, 2018
30 May, 2018 - 01 June, 2018
04 June, 2018 - 08 June, 2018
New York, USA
Brazil’s meatpacking giant, JBS, reported a net loss of R$345.1 million (US$103.9 million) in the fourth quarter of 2017.
JBS SA’s net financial expenses increased +121% to R$2.07 billion (US$625 million) in the final quarter of 2017, as exchange rates fluctuated and the Company adjusted the fair value of derivative contracts. The meatpacker had posted a net income of R$708.1 million (US$214 million) in the same quarter of 2016.
The JBS Brazil division, which included leather tanning, is said to have been impacted by the sale of the Company’s South American beef assets and a reduction of animals slaughtered in Brazil. Net revenue for JBS Brazil in the fourth quarter stood at R$5,918.6 million (US$1.78 billion), a +18.1% decline year-on-year. For full 2017, the division’s net revenue totalled R$23,446.9 million (US$7.08 billion), a +16.9% decrease from 2016. Nevertheless, overall, JBS SA posted a +2.7% increase in net revenues in the quarter to R$42.7 billion (US$12.89 billion).
In full 2017, the Company’s net revenue stood at R$163.2 billion (US$51.5 billion), with gross profit totalling R$23.8 billion (US$7.18 billion), representing an increase of +11.5%, with gross margin increasing from 12.5% to 14.6%. EBITDA was R$13.4 billion (US$4.04 billion) for the full year, +18.9% higher than in2016, with EBITDA margin increasing from 6.6% to 8.2%.
On March 30, JBS confirmed it remains interested in launching an initial public offering (IPO) for its U.S. subsidiary, JBS Foods International BV.