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Meat Processor Witnesses Increase in Revenues

BRAZIL - Brazilian meat processing giant JBS has reported consolidated net revenue of R$24.2 billion, an increase of R$4.9 billion or 25.1 per cent in the third quarter of the year compared to the same period last year.
calendar icon 15 November 2013
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Of this rise in revenue, 87.6 per cent came from organic growth.

Consolidated EBITDA was R$1,709.7 million, an increase of 24.0 per cent over 2012.

EBITDA margin was stable at 7.1 per cent.

JBS Mercosul showed a net revenue of R$6.2 billion, 35.2 per cent above 2012 figures for the quarter and EBITDA was R$687.5 million with an EBITDA margin of 11.1 per cent in Mercosul and 11.7 per cent in JBS Brazil – the parent company.

JBS USA Chicken, Pilgrim’s Pride Corporation, maintained its positive momentum similar to the previous quarter.

Net revenue reached $2.1 billion, 3.6 per cent ahead of the third quarter of 2012.

The thir quarter EBITDA came in at $226.1 million, an increase of 114.1 per cent compared to the third quarter of 2012.

EBITDA margin was 10.6 per cent.

JBS posted net income for the quarter of R$219.8 million, equivalent to R$76.69 per
thousand shares.

The company said it generated positive free cash flow of R$806.9 million during 3Q13. The net cash from operating activities was R$1,241.0 million.

The Company ended the quarter with R$7,832.3 million in cash or cash equivalent, corresponding to 73 per cent of short-term debt.

Leverage excluding the debt assumed at Seara acquisition was 2.96 times, as previously projected by the Company.

Leverage (net debt / EBITDA) ended the period at 4.03 time, including the assumption of the total debt from Seara acquisition, without considering EBITDA from the company acquired.

JBS S.A. issued a US$1.0 billion Bond in October, 2013, maturing in 2020 and with a yield of 7.75 per cent per annum.