JBS reports expansion in third quarter

By Aidan Fortune contact

- Last updated on GMT

JBS reports expansion in third quarter

Related tags: Brazil, Jbs, Beef, Pork

Red meat processor JBS has reported a strong third quarter of 2019, driven by international expansion.

In the third quarter of 2019, the company’s net revenue was R$52.2bn, an increase of 5.6% compared to the same period in 2018. Its EBITDA of R$5.9bn, an increase of 33.6% year-on-year, while its EBITDA margin increased from 9.0% to 11.3%.

JBS Global CEO Gilberto Tomazoni outlined the main drivers of growth for the business.

“Our diverse protein and geographic production and distribution platform has proven to be an important competitive advantage. We have reached directly or indirectly all the important global markets," ​he said.

“With the creation of our global innovation team, we have prioritized global trends, including convenience, alternative proteins, healthiness and products that meet different moments of consumption and indulgence, and invested regionally in product development to meet local preferences.”

Tomazoni also highlighted some acquisitions the business made over the past three months. “This quarter, as previously announced, we resumed our inorganic growth and made acquisitions in geographies where we are present and which will contribute to the expansion of our value-added and branded product portfolio. We announced acquisitions with total revenues of R$5.3bn, including Tulip, the leading producer of pork and prepared foods with operations in the United Kingdom. In Brazil, we completed the acquisition of a pork unit in Seberi (RS) and Seara announced an agreement to acquire Marba, a traditional cold cuts and sausage company in the state of São Paulo, which is awaiting the decision by the local antitrust authorities.”

JBS recently announced 81 new job openings in Mato Grosso at its Alta Floresta, Araputanga, Barra do Garças and Confresa plants.

Related topics: Financial, Brazil, United States, Beef, Pork

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