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November 17, 2011

 

Q3 net loss for Brazil's JBS at US$103 million

 

 

Brazil's JBS S/A, had third-quarter net losses of BRL182.7 million (US$103 million), reversing year-earlier earnings of BRL166.4 million (US$94.1 million), the company said Monday (Nov 14).

 

In a statement, JBS attributed the result to the weak performance of chicken operations in the US and the impact of a stronger dollar, which boosted its financial expenses.

 

Ebitda slipped 24% in the quarter versus a year before, to BRL786.8 million (US$445 million). The company's Ebitda margin shrank 2.3% points to 5.1%.

 

Net revenue, on the other hand, increased 10.6% to hit BRL15.56 billion (US$8.8 billion).

 

JBS, which is also the world's biggest animal protein company, had bulky financial expenses of BRL519.5 million (US$294 million) in the quarter, up 43% over year-ago expenses of BRL363 million (US$205 million).

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