News Meat
Meat giant JBS sees results rise sharply
Meat processor JBS has significantly improved its financial results last year, compared to one year previously. The company, which took over the Dutch producer of meat alternatives Vivera in June, saw its turnover and profit rise sharply.
JBS benefited last year from the worldwide good demand for animal proteins. High meat prices and acquisitions have ensured that turnover has increased by 29,8% to around €65 billion. All market segments in which JBS is active contributed to the turnover growth. In particular, the absolute increase in turnover in the American beef branch boosted turnover considerably; this grew from about €20 billion to €27 billion.
JBS saw 'Ebitda' increase by 54,5% to approximately €8,5 billion. The significant improvement in results in the United States beef division was also the main stimulus for this development. The very high prices for beef in the United States and strong export figures to China, among others, pushed the company's 'Ebitda' up here by 102%.
Drop in Brazil
Margins in Brazil did develop negatively, however, as a result of higher costs for cattle, which could not be fully reflected in sales. The company also suffered from a temporary import ban last year, which was imposed by China after the discovery of a number of Brazilian cows with BSE.
The Brazilian JBS has 250.000 employees worldwide and last year took over 100% of the shares of Vivera. In an explanation of the annual figures, CEO Gilberto Tomazoni is pleased with the acquisition. He stated that this gave the meat group a leading position in the European market for meat substitutes.
Steve Wissink
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