Net revenue was R$ 44.4 million, a 11.5% increase over the first quarter of 2018;
EBITDA rose to R$ 3.2 billion, up 14.4% on 1Q18;
Gross Profit was R$ 5.8 billion in the first quarter, rising 13.3% on the same 1Q18;
The Company ended the quarter with leverage in BRL of 3.20x, down from the 3.24x reported in the first quarter of 2018;
Leverage in dollars fell to 3.10x from 3.13x in the same quarter last year.
São Paulo, May 13, 2019 – JBS S.A. ended the first quarter of 2019 with net profits of R$ 1.1 billion, up 115.7% on the first quarter of 2018. Net profit per share was R$ 0.41, up 127.8% on 1Q18.
The Company’s quarterly net revenue was R$ 44.4 billion, an 11.5% increase year on year. EBITDA (which measures the company’s operating performance) rose to R$ 3.2 billion in the quarter, a 14.4% improvement on the previous year.
Gross profit improved 13.3% from R$ 5.1 billion in the first quarter of 2018 to R$ 5.8 billion in the first three months of 2019. “These figures show our discipline, our consistency delivering results and the company’s commitment to its value creation strategy”, said Gilberto Tomazoni, Global CEO of JBS.
Financial health continues to improve
JBS’s leverage continues to fall and the ratio between net debt and EBITDA, in BRL, fell to 3.20x in the first quarter of 2019. It was 3.24x in 1Q18. In dollars, leverage fell from a factor of 3.13 in 1Q18 to 3.10 this quarter. Operational cash flow was R$ 749.6 million during the first quarter of 2019, 359% up year on year. Importantly, the company’s total liquidity, including pre-approved lines of credit, is R$ 14.8 billion, around five times its short-term debt.
“Today’s figures are evidence we have a strong business model, a clear strategy, a focus on people, operational excellence and high quality products”, said Gilberto Tomazoni. “JBS is ready and well-placed to take advantage of market growth opportunities”, he added.
JBS is one of the world’s leading food industry companies with approximately 230 thousand employees in 15 countries. The Company owns a portfolio of brands that are acknowledged for their excellence and innovation, including Friboi, Moy Park, Pilgrim’s Pride, Primo, Seara, Swift, Gold’n Plump and others, serving over 275,000 customers of more than 150 nationalities worldwide. The company’s focus on innovation also reflects its management approach to related businesses in areas such as leather, biodiesel, collagen, personal hygiene and cleaning products, natural wrappings, solid waste management solutions, metal packaging and transportation. JBS has adopted best sustainability practices throughout its value chain and constantly monitors its suppliers using satellite imagery, georeferenced maps of supplier farms and monitors official data from government agencies; the company also focuses on the highest possible food safety and quality standards. The success of JBS’s operations is closely tied to our Animal welfare practices, which are rigorously applied and have received an increasing share of investments to further improve the Company’s efforts in this area, in line with best practices.
Corporate Communications Department
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