Annual and Sustainability Report | 2019

Performance
and perspectives

Financial result

In yet another year of excellent results, JBS ended 2019 with revenues of R$ 204.5 billion, the highest figure on record for the Company. This performance shows the importance of engaging the entire Company and of management focusing on operational excellence, innovation and sustainability.

NET REVENUE

Net revenue at JBS was R$ 204.5 billion, equivalent to US$ 51.7 billion, a record high. This amount is 12.6% higher than in 2018, which was formerly the year with the highest net revenue.

GROSS PROFIT

Gross profit reached R$ 31.9 billion, growing by 21.3% compared to 2018. Gross margin rose from 14.5%, in 2018, to 15.6%.

NET INCOME

In 2019, net income grew by 241 times over 2018, reaching R$ 6.1 billion. Earnings per share for the year was at R$ 2.28.

ADJUSTED EBITDA

Adjusted EBITDA also hit a record high: R$ 19.9 billion. EBITDA margin rose from 8.2% in 2018 to 9.7%.

OPERATIONAL CASH FLOW

In 2019, JBS operational activities generated R$ 17.1 billion in cash, 49.1% higher year-over-year.

FREE CASH FLOW

Free cash flow was R$ 9.5 billion, 109.1% more than in 2018.

NET DEBT AND LEVERAGE

Net debt in Brazilian reais fell by R$ 47.2 billion to R$ 43.0 billion in 2019, lowering leverage from 3.18x to 2.16x during the period. In US dollars, net debt dropped from US$ 12.2 billion to US$ 10.7 billion – leverage went from 3.01x to 2.13x.

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