JBS’ net income grows 128% in 2017

JBS, a J&F Group company, reported a net income of R$ 534.2 million in 2017, a 128.7% growth compared to 2016. The company’s gross profit increased 11.5%, reaching R$ 23.8 billion in the same period

The earnings before interests, taxes, depreciation and amortization (EBITDA) amounted to R$ 13.4 billion, an increase of 18.9% in relation to the previous year, while net revenues reached R$ 163.2 billion, equivalent to US$ 51.5 billion.

The company also delivered excellent results regarding debt reduction. The short-term debt was reduced in 25%. At the end of the year, it represented merely 24% of the total loans. Reduction in leverage, i.e., the net debt to EBITDA ratio, was ensured by the successful divestment plan and by strong perspectives to generate cash flow for 2018. Leverage fell from 4.16x in 2016 to 3.38x at the end of 2017.

JBS, the world’s leading animal protein processing company, delivered great results thanks to its global structure and diversified product portfolio. The company remains well positioned to benefit from favorable trends in the global animal protein market.