JBS posts record revenue for 2014

By Georgi Gyton contact

- Last updated on GMT

Revenue for the full year was up 29.7% to R$120.5bn
Revenue for the full year was up 29.7% to R$120.5bn

Related tags: Meat, Revenue, Argentina

Global meat giant JBS more than doubled (+119.6%) its net income during 2014, with profits amounting to R$2.04bn.

The fourth quarter saw net profits up more than 339% to R$618.8m, compared to the same period in 2013.

Revenue for the full year was up 29.7% to R$120.5bn, while EBITDA increased by 80% to R$11.1bn.

The company put the increases down to the financial contributions from various acquisitions, including the takeover of Tyson in Brazil and Mexico.

The appreciation of the dollar against the real, and sales increases at JBS Foods, JBS Meats, Pilgrim’s Pride, and its Australian operations, as well as expanded sales to Asia, also contributed to the positive results picture.

Wesley Batista, chief executive, JBS Global, said: "We have reached more than US$120bn in consolidated sales in 2014, a 30% increase over 2013.

"In the US we have a well-fitting operation and had impressive results during the year, the result of a committed management with low-cost production, high levels of productivity and optimisation of the sales mix."

Revenue at its JBS USA cattle operation, which includes businesses in Canada, Australia and the US, increased 23.3% in 2014, while US pork sales increased 6.5% and its poultry subsidiary Pilgrim’s Pride saw sales up 3.1%.

The expansion of its operations in Argentina, Paraguay and Uruguay pushed revenue at JBS Mercosul up 19.5% last year.

"We are confident that, every day, the market has a better understanding of our business and our strategy. The 2014 results demonstrate that we are moving in the right direction. In 2015, we will give priority to organic growth and will focus on all aspects to improve our financial indicators, thus creating more value for our shareholders,"​ added Batista.

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