JBS still making record profits of over $2.5 billion but not sharing a dime with their poultry growers who are approaching 20 years with essentially no increase in pay. MW
Multi-protein company reports positive financial results for first quarter
Release Date: 2015-05-15
JBS SA, a Brazil-based meat and poultry company, reported positive financial results for the first quarter of fiscal year 2015. With net revenues up in four of the company’s five units, the company is hailing its diverse product base.
Highlights for the quarter include:
1. Net income up dramatically – After recording a net income of BRL70 million (US23.2 million) during the first quarter of fiscal year 2014, one year later JBS SA reported a net income of BRL1.394 billion (US$461.6 million).
2. JBS SA net revenues up – Companywide, JBS SA reported a net revenue of BRL33.8 billion for the first quarter, an increase of 28 percent when compared to the first quarter of 2014.
3. Increase in gross profit – Gross profit for the company during the first quarter of FY 2015 was BRL4.8 billion, a 39.6 percent year-over-year increase.
4. EBITDA more than doubles – Earnings before interest, taxes, depreciation and amortization (EBITDA) was reported at BRL 2.8 billion, an increase of 57.6 over the EBITDA figures from the same period during fiscal year 2014. The company’s EBITDA margin was 8.2 percent.
5. JBS Foods net revenue jumps –JBS Foods, the company’s newest subsidiary that includes poultry, pork and prepared foods in Brazil, reported a net revenue of BRL3.9 billion during the first quarter of FY 2015, a 39.4 percent increase when compared to the first quarter of FY 2014.
6. Pilgrim’s Pride revenue edges up – JBS USA Chicken, also known as Pilgrim’s Pride, recorded a 1.7 percent year-over-year increase in net revenue, with the figure reaching US$2.1 billion.
7. JBS Mercosul net revenue up – JBS Mercosul’s net revenue for the first quarter of 2015 was BRL 6.8 million, a year-over-year increase of 18.5 percent. The JBS Mercosul business unit includes beef, hides, leather and related businesses in Brazil.
8. Increase for JBS USA beef net revenue – JBS USA Beef achieved a 14.8 percent increase in net revenue for the first quarter of FY 2015, with a net revenue of US$5.2 billion.
“Our strategy over the last years allowed us to create a global production platform. Today we operate a diversified portfolio, with value-added products and strong brands worldwide. This strategy allows us to generate more solid and consistent results ongoing," said Wesley Batista, Global CEO of JBS.
The company’s USA Pork unit was the exception during the first quarter of FY 2015, recording a net revenue of US$762.3 million, a year-over year decrease of 15 percent.