For the fourth quarter, approximately 75% of JBS global sales came from markets in which the Company operates and 25% from exports. Adjusted EBITDA totalled R$3.39 billion (US$864 million), up +6.1% over the same quarter in 2017, with EBITDA margin at 7.2%. Net income was R$563.2 million (US$143.56 million), reversing the loss reported in the fourth quarter of the previous year.
For full 2018, JBS posted consolidated net revenue of R$181.68 billion (US$46.30 billion), a +11.3% increase against 2017, representing the highest revenue ever recorded by the Company. Adjusted EBITDA totalled R$14.84 billion (US$3.78 billion), a +10.7% increase over the previous year. EBITDA margin remained stable at 8.2%. Net income in 2018 was R$1.6 billion (US$409 million).
According to JBS, in North America, notably in the U.S., “the fundamentals of the beef industry continue to be solid and favourable to cattle producers and processors”, as cattle supply is reported to continue to grow and processing capacity remains the same. “The strong U.S. economy, coupled with the low unemployment rate, are promoting beef consumption and growing demand, resulting in higher margins for the U.S. beef industry”, said JBS. Exports from the meatpacker’s U.S. unit are said to have exceeded volumes reported in 2017, bringing a new record volume sale for the country. JBS Australia is also reported to have improved performance in 2018 compared with the prior year as cattle supply increased and exports to China and other Asian countries grew.