Net revenue for JBS reached an all-time high in 2019, the Brazil-based meat and poultry company reported on March 25.
In reporting its fiscal year 2019 results, JBS reported a net revenue of BRL204.5 billion (US$51.7 billion) for the full year. Those figures represented a 12.6% year-over-year increase, as one year ago, JBS’ net revenue was BRL181.7 billion. For the fourth quarter, net revenue was BRL57.1 billion, a 20.7% improvement when compared to the fourth quarter of 2018.
Meanwhile, the company reported net income of BRL6.1 billion for 2019, up dramatically from the BRL10 million reported in 2018. For the fourth quarter, net income was BRL2.4 billion, a 332.4% increase on a year-over-year basis.
“What we do now is reflected in what we will be tomorrow and in the future. The results we present today are a clear demonstration of this,” JBS Global CEO Gilberto Tomazoni stated in a press release. “We had an excellent financial result and an expressive evolution of our operation in 2019. The strong commitment of the leadership and the more than 242 thousand employees of the company, combined with a focus towards operation excellence, innovation and sustainability, led us to achieve the best level in our history.”
Seara results
The Seara subsidiary, which includes JBS’ South American poultry operations, posted a net revenue of BRL20.4 billion for the year, and BRL5.7 billion for the fourth quarter. The yearly net revenue represented a 15.2% increase, while the quarterly figure represented at 23.9% improvement. During the fourth quarter, Seara also achieved improvements in net revenue in both the domestic market (14.5%) and export market (36.8%).
Pilgrim’s Pride
JBS, the world’s largest poultry company, is the majority shareholder of U.S.-based poultry company Pilgrim’s Pride, which has operations in the United States, Mexico and Europe.
Pilgrim’s Pride earlier released its 2019 results in February. Those results included a net income of $455.9 million for the full year and $92.1 million for the quarter, representing an 84% increase for the year, and a rise from a net loss of $7.32 million.
