Net Revenue increased 26% in 2Q12
Consolidated EBITDA surpassed R$1.0 billion
Adjusted Net Income of R$213 million
JBS posted consolidated net revenue of R$18.5 billion, 26.3% higher than 2Q11.
Consolidated EBITDA was R$1,012.8 million, an increase of 72.3% compared to 2Q11. EBITDA margin was 5.5%.
JBS Mercosul was the highlight of the quarter reporting net revenue of R$4,317.7 million, an increase of 19.4% over 2Q11. EBITDA increased 47.3% over the same period and was R$630.3 million with an EBITDA margin of 14.6%.
JBS USA Chicken (Pilgrim’s Pride Corporation – “PPC”) posted net revenue of US$2.0 billion and EBITDA of US$125.7 million in the period, reversing the negative result presented in 2Q11.
Adjusted net Income in the period was R$212.9 million excluding deferred income tax liabilities generated by goodwill (this deferred income tax is disbursed only if the company sells the investment that generated goodwill). Reported consolidated net income was R$169.5 million.
The Company ended the quarter with R$5.475 billion in cash and cash equivalent, corresponding to more than 110% of short-term debt.
1st SEMESTER, 12 (1S12) HIGHLIGHTS
During the semester, net revenue totaled R$34.5 billion, 17.7% higher than 1S11.
Consolidated EBITDA was R$1,709.3 million in 1S12, which is 20.1% above 1S11. EBITDA margin of the semester was 5.0%.
Adjusted net Income for the semester was R$453.2 million excluding deferred income tax liabilities generated by goodwill. First half reported consolidated net income was R$285.6 million.
Start up in the poultry industry in Brazil through the rental of Frangosul assets, with a processing capacity of 1.1 million birds/day.
Ramp up of the beef business in Brazil adding new units with the capacity to process about 8,000 head/day.
Independent listing of Vigor S.A. through the conclusion of the Voluntary Public Tender Offer for the Acquisition of JBS Shares in Exchange for Vigor Shares.