February 5, 2023
JBS profit rises to R $ 7.6 billion in Q3;  The CEO highlights U.S. activity through Reuters

JBS profit rises to R $ 7.6 billion in Q3; The CEO highlights U.S. activity through Reuters

© Reuters. JBS facilities at Lapa, Parana REUTERS / Ueslei Marcelino

By Nayara Figueiredo

SAO PAULO (Reuters) – JBS (SA 🙂 reported 7.6 billion rice net income in the third quarter, a significant increase of 142% year-on-year, driven by the performance of operations in North America that offset the crisis in Brazil again. , According to the balance sheet released on Wednesday.

The company’s adjusted revenue (Ebitda) before interest, taxes, depreciation and debt repayment (Ebitda) reached $ 13.9 billion, up 74.2% from the same comparison.

This performance was driven by JBS USA Beef, the North American beef unit, whose Ebitda increased by 203.9% to $ 8.4 billion.

“America’s performance is excellent,” Gilberto Tomasoni, CEO of JBS Global, told Reuters, referring to the company’s largest unit in terms of revenue.

The company’s net income for the quarter was 92.62 billion rice, an increase of 32.2% year-on-year, recording reais growth in all business segments of the company: Sira (+ 38.2%), JBS Brazil (+ 35.3%), JBS USA Beef (+ 34.2%), JBS USA Pork (+ 42.2%), and PPC (+ 21%).

Of the total sales, 75% of the value came from North American-headquartered operations.

During this period, about 73% of JBS’s sales were made in the company’s operating domestic markets and 27% through exports – in the United States, mainly after food withdrawal, resulting in associated local service due to local consumption.

Asked about the suspension of exports from Brazil to China, its main buyer, Tomasoni said JPS has a global base and that moments like the one currently in the Brazilian market are offset by positive cycles elsewhere where the company operates. United Nations.

“The impact on JPS, as it is a global platform, is relatively small, and it has a different dimension from the company that operates only in Brazil and exports to China,” he said.

“We reduced our operations in Brazil (due to the Chinese suspension). This is the context of the product mix. We are converting our factories to production and there is an adjustment to the demand of the domestic market. We are not taking any action. Added.

In this context, JBS has agreed to distribute a total of Rs 2.37 billion in interim dividends based on net income for the current year.

The net income accumulated in 2021 reached 14 billion rupees, which is already the minimum dividend payable in 2022 R $ 3.5 billion, of which 2.5 billion was presented in August.

In the third quarter, after adding free cash flow, fixed assets, interest paid and received, the company added a total of 7.3 billion rupees, with investments totaling 7.7 billion rupees.

It also illustrates that the company ended the quarter with 23.3 billion riyals in cash.

Net debt rose to 61 billion riyals from 51.5 billion riyals in the third quarter of last year, while foreign exchange fell 1.52 times from 1.83 times.

Guilherme Cavalcondi, CFO and Director of Investor Relations at JBS, said the company expects to maintain foreign exchange below 1.6 times at the end of the quarter, even in view of dividend payments and year-round acquisitions. Leg.