JBS, the world’s largest meat company has released record second quarter results with EBITDA of BRL 11.7bn (€1.89bn), an increase of 10% on the same period last year and a net profit of BRL 4.4bn (€710m), just under a 30% increase on the same period in 2020.
Turnover also increased significantly to BRL 85.6bn (€13.8bn), an almost 27% increase on last year.
The company performed strongly across its product and global businesses, but global chief executive, Gilberto Tomazoni highlighted the performance of the North American business in particular.
As well as emphasising its sustainability credentials with a commitment to zero GHG emissions by 2030, the chief executive also referenced the geographical and portfolio diversification that is underway in the business.
Of particular interest to Ireland is the acquisition of the Kerry Group’s meats and meals business in Ireland and the UK, announced during the second quarter of 2021.
JBS also announced their first venture into aquaculture, with the acquisition of Australia’s second largest salmon company.
This follows the acquisition of Australia’s second largest breeding and pig processing company Rivalea, and it has been active in the plant-based protein space as well, with the acquisition of the Dutch-based Vivera, the third largest business of its type in the EU.
JBS has also announced that it is in the process of acquiring the remaining shares in Pilgrim’s Pride, the US headquartered poultry processor that owns Moy Park in Northern Ireland.