Indeed, JBS achieved a record-breaking performance throughout 2019. Looking at the financial statements of Brazil’s meat giant, revenues from sales amounted to about 51.7 billion US dollars. They therefore increased by 12.6% compared to 2018. We are talking about the highest earnings ever. In the fourth quarter of the year, JBS managed to make around 13.9 billion dollars (that is, +20.7% compared to 2018). Net profits proved record-breaking as well: 1.21 billion dollars. Yet, they now have to face and deal with the pandemic and its multiple consequences across the current year.
The comment
“At the end of the business year, we successfully achieved our best financial standing ever. Thanks to a sound cash flow, matched with the ongoing issue of new bonds, our company could reduce its net debt”, pointed out Chief Executive Officer Gilberto Tomazoni. “We are now facing a worldwide pandemic: in such critical situation food provisions turn out to be essential – continued the manager –. We must absolutely guarantee their supply: that is why we are going to keep working and producing relentlessly. Of course, we shall do it in close compliance with regulations and guidelines, in order to ensure our employees’ safety. In doing so, they will be ready to supply food to people, who are most in need of it now”.
The Brazilian area
Speaking about JBS Brazil, the group’s segment that includes leather, its revenues amounted to about 6.36 billion dollars out of 51.7 billion dollars, in total, they made in 2019. Earnings therefore increased by 15.9% compared to 2018. Domestic market enjoyed a boost, +26.5%, in the fourth quarter of the year. Revenues from exports, which account for 46% of the division’s overall sales, reached 4.4 billion dollars, that is, +30.8% compared to last year. As regards sales, they carried out most of them in China (+61% in terms of volumes and +23% in terms of value).
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