São Paulo, August 14, 2019 – JBS ended the second quarter of 2019 with a net profit of R$ 2.2 billion, an important turnaround after posting a net loss of R$ 911 million in 2Q2018. Profit per share reached R$ 0.82. During the first half of 2019, the Company posted net profits of R$ 3.3 billion, with earnings of R$ 1.23 per share.
EBITDA (the Company’s operational performance index) reached a record R$ 5.1 billion during the quarter, up 20.3% year on year. The Company’s net revenue for the quarter reached R$ 50.8 billion, an increase of 12.5% compared with the previous year. Gross profits rose 13.6%, from R$ 6.9 billion in the second quarter of 2018 to R$ 7.9 billion in 2Q2019.
“We are very excited to be announcing record figures, which proves we have the right strategy, the Company is operating at a very high level and highlights our staff’s ability to deliver”, said Gilberto Tomazoni, Global CEO of JBS.
Financial health breaks new ground
JBS has managed to continue reducing leverage continues as the ratio between net debt and EBITDA (in BRL) fell to 2.78x in the second quarter of 2019, achieving the Company’s target for the quarter of under 3.0x. This figure was 3.47x in the second quarter of 2018. In dollar terms, leverage last quarter was 2.81x, compared with 2.98x in the second quarter of 2018.
Free cash flow was R$ 3.7 billion, a 92.6% improvement on 2018. Additionally, the Company’s total liquidity, including pre-approved credit lines, is R$ 13.6 billion, approximately 4.5 times its short term indebtedness.
“This achievement has only been possible due to the incredible contribution from our extraordinary team of our over 230 thousand employees worldwide. We are celebrating this result with them, because they are the people who will help us continue along the path of sustainable growth”, said Gilberto Tomazoni.
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 190 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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