Net Revenue up Four Per Cent for JBS

BRAZIL - Net revenue for JBS was almost four per cent higher for the second quarter than for the same period last year. All the company's business units registered gains.
calendar icon 17 August 2011
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JBS has posted its second quarter results, which includes net revenue of 14,621.8 million real (BRR), 3.6 per cent higher than 2Q10. Excluding the effects of foreign exchange variation, revenue growth was 16.3 per cent.

In local currency, each business units presented the following growth, comparing with 2Q10: JBS USA Beef, 19.1 per cent; JBS USA Pork, 14.4 per cent; JBS USA Chicken, 16.7 per cent and JBS Mercosul, 2.7 per cent.

JBS Mercosul presented EBITDA of BRR427.9 million, 27.9 per cent higher than 2Q10 with an EBITDA Margin of 11.8 per cent.

The Company completed the capitalisation of its debentures into JBS S.A. shares at BRR7.04.

JBS raised US$2.0 billion in long-term debt through its subsidiary JBS USA, with an average cost below 4.5 per cent per annum, which will be used to pay down shorter term debts in Brazil. The total savings from this operation are estimated at US$150 million per annum.

The Company ended the quarter with BRR5.0 billion in cash, equivalent to more than a 100 per cent of the short-term debt.

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