JBS revenue rises in third quarter

Worldwide
Published:  18 November, 2019

Net revenue for the Brazilian based meat processor totalled R$52.2 billion (US$12.44 billion) in the third quarter of 2019, up 5.6% compared with the same period in 2018.

JBS posted a record EBITDA of R$5.9 billion (US$1.4 billion) in the third quarter, 33.6% higher year-on-year, and an EBITDA margin increase of 11.3% from 9% a year ago. Net income in the quarter totalled R$356.7 million (US$85 million) and the Company posted a reduction of gross debt of US$2.7 billion. Gilberto Tomazoni, CEO, JBS, said the market has been “favourable” throughout 2019 and perspectives are even better. “Growth in population, urbanisation, increase in disposable income, among other things, have been contributing to an increase in protein consumption globally, principally in Asia”, said Tomazoni.

Revenue for JBS Brazil, which includes JBS Couros, was R$8.4 billion (US$2 billion) in the third quarter, representing an 11.4% increase compared with the same quarter in 2018, while processed volumes increased 10.1%. In the domestic market, net revenue was R$4.3 billion (US$1.02 billion), a 15.5% increase year-on-year, with a 23.1% growth in volume and a reduction of 6.2% in prices. Beef, the main product category of JBS Brazil, posted an 8.8% increase in volume. In the export market, 49% of this business’ unit sales, net revenue grew 7.4% to R$4.1 billion (US$977,000).