JBS Reports Rise in Revenue from Organic Growth15 August 2013
BRAZIL - Brazilian meat processing giant JBS reports that net revenue rose R$21.9 billion in the second quarter of the year, up R$3.4 billion, or 18.7 per cent, compared to the same period of 2012.
The company said that 70 per cent of the rise in revenue comes from organic growth.
Consolidated EBITDA was R $ 1,667.7 million, an increase of 64.7 per cent over the second quarter of 2012 and the EBITDA margin was 7.6 per cent compared to 5.5 per cent in 2012.
Adjusted net income was R $ 482.5 million.
JBS ended the quarter with R $ 7.2 billion in cash, equivalent to 85 per cent of short-term debt.
JBS USA Beef operation raised $ 4.8 billion in net revenue, 12.6 per cent higher than in the second quarter of 2012.
EBITDA was $ 161.7 million, reversing the negative result recorded in the same period last year. The EBITDA margin was 3.4 per cent.
Pilgrim’s Pride, the chicken processing sector in the US has $ 2.2 billion in net revenue in the quarter, 10.6 per cent higher than for the same quarter of 2012. EBITDA was $ 265 million in the second quarter of 2013, representing a margin of 12.1 per cent.
Adjusted net income for the period was R $ 482.5 million, excluding the portion of deferred income taxes, which refers to the goodwill of R $ 35.9 million generated in the parent and net operating losses on JBS USA of R$ 108.1 million. The reported net income for the period was R$338.5 million,
The company’s debt includes R $ 324.7 million from the acquisition of Seara Brazil and Zenda, which impacted on the company’s performance.
ThePoultrySite News Desk