JBS Shows Sharp Growth

BRAZIL - Brazilian beef processor JBS saw net revenue rise by 20.2 per cent in the first quarter of the year compared to the first quarter of 2010.
calendar icon 11 May 2011
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The company's revenue hit R$14,672.7 million and excluding the effects of FX variation, the revenue growth was 29.9 per cent.

JBS USA Beef saw net revenue of US$3,793.3 million, 34.1 per cent higher than in the first quarter of 2010 and JBS USA Pork presented a net revenue of US$836.6 million, 29.5 per cent higher than in 2010.

JBS USA Chicken's net revenue was US$1,892.5 million, 15.2 per cent higher than in 2010 and JBS Mercosul's net revenue was R$3,604.2 million, 27.7% higher than 1Q10.

The company's total EBITDA was R$835.9 million with an EBITDA margin of 5.7 per cent.

JBS USA Beef's EBITDA showed a rise of 58.2 per cent on 2010 at US$269.7 million, with an EBITDA margin of 7.1 per cent.

JBS USA Pork had an EBITDA of US$105.3 million, 201.7 per cent higher than in the first quarter of 2010, with an EBITDA margin of 12.6 per cent.

JBS Mercosul's EBITDA was US$308.3 million, with an EBITDA margin of 8.6 per cent.

Net income was R$147.0 million for teh first quarter an increase of 47.9 per cent on 2010 and equivalent to R$0.06 per share.

Exports grew by 17.4 per cent in the first quarter of 2011 compared to the last quarter of 2010, reaching US$2.45 billion.

JBS said that it has now started the process of rebalancing the company’s debt.

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