News Meat
Best quarter ever for meat processor JBS
Brazil's JBS, the world's largest meat producer, achieved its best ever result in the second quarter of this year. It benefited from excellent conditions in the Americas in particular.
It was the best quarterly result in the company's history for turnover, net profit and sales volume. The company's revenue rose 27% to approximately $16,4 billion. The company's EBITDA increased 10,3% to $2,2 billion. In particular, the results of JBS companies in the United States boosted the quarterly figures.
Strong beef market
For example, JBS benefited greatly from the historically high prices for meat in the US. Now that the effects of the corona pandemic have been pushed into the background, consumers can again be found more often in the catering industry. This was a boost for the demand for meat. Export demand was also at a high level. Beef exports from the United States and Canada to third countries in particular developed positively.
JBS went a little less prosperous in their home country Brazil. The company indicated that it was particularly affected here by very high prices for maize and soya. This put pressure on the margins in pig and poultry production in particular. The company was partly able to pass on these cost price increases to its customers.
Steve Wissink
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