JBS, the world’s largest meat processor, released record results for 2021 this week.
Turnover increased by 29.8% on 2020 to BRL350.7bn (€64.6bn) with earnings before interest, taxation, depreciation and amortisation (EBITDA) up 54% to BRL 45.7bn (€8.4bn) a 54.5% increase on the previous year.
The most spectacular performance of all came from the JBS USA beef division.
For 2021, its revenue was up 30.7% to BRL 146.6bn (€27bn) with EBITDA more than doubling to BRL26bn (€4.8bn) on 2020.
The performance for the final quarter of 2021 was even more dramatic. Net revenue was up 38.3% to BRL41.9bn (€7.7bn), while EBITDA was up a massive 180% to BRL7.8bn (€1.4bn).
JBS owns Moy Park in Northern Ireland through Pilgrim’s Pride in which it has the majority shareholding.
It was particularly active with acquisitions in 2021, one of which was the Kerry meats and meals division which was acquired through Pilgrim’s Pride.
JBS also announced an acquisition this week with its first venture into the fertiliser production industry through Campo Forte Fertilizantes where a BRL134m (€24.7m) investment will create a production capacity of 150,000t per annum.
JBS has identified that with Campo Forte, it is “joining a market with potential for growth and opportunity for expanding the share from Brazilian production.”
Brazil is currently dependent on imports for 87% of its fertiliser supply and the government recently announced a 30-year plan to become self-sufficient in fertiliser.