By Nayara Figueiredo and Ana Mano
SAO PAULO, March 24 (Reuters) – Meat processor JBS SA’s JBSS3.SA fourth-quarter revenue rose 65% from a 12 months earlier, boosted by robust meals gross sales in China and america and a pointy devaluation of Brazil’s actual forex, the corporate mentioned in a securities submitting on Wednesday.
For full-year 2020 its revenue was 4.6 billion reais, 87% of which got here within the fourth quarter.
Within the remaining quarter of 2020, when meals gross sales are historically robust, JBS registered web income of 76 billion reais, a 33% rise from the fourth quarter in 2019, with progress in native forex phrases registered throughout all enterprise models.
For full-year 2020, JBS boosted web income by 32% to 270 billion reais. In the identical submitting, JBS mentioned it plans to pay 1 actual per share in dividends in 2021, equivalent to a report 2.5 billion reais.
JBS mentioned in america, the place the corporate derives most of its income, beef trade fundamentals remained strong, serving to general monetary efficiency.
At the same time as JBS grappled with manufacturing cuts within the first half of the 12 months associated to the coronavirus pandemic, cattle availability and client demand bolstered U.S. beef operations, it mentioned.
Alternatively, the U.S. pork division, which additionally suffered manufacturing cuts amid the pandemic, had a 5 percentage-point fall in EBITDA margins to 9.1% within the fourth quarter. And as cattle availability remained low in Australia, JBS reported a pointy discount of its beef manufacturing and margins there final 12 months.
China continues as a primary gross sales driver for JBS’s operations in each Brazil and america. Total, the Asian nation is the vacation spot of 31% of JBS’s meat exports which totaled $13.6 billion in 2020.
Final 12 months, JBS accounted for greater than 50% of whole beef exports to China from america. On the similar time, income from exports to China and Hong Kong from JBS’s Brazil beef division rose by 60% within the fourth quarter.
($1 = 5.6274 reais)
(Reporting by Ana Mano and Nayara Figueiredo in Sao Paulo Modifying by Leslie Adler and Matthew Lewis)
((ana.mano@thomsonreuters.com; Tel: +55-11-5644-7704; Mob: +55-119-4470-4529; Reuters Messaging: ana.mano.thomsonreuters.com@reuters.web))
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