Consolidated earnings, EBITDA, was R$6,130.3 million, an increase of 39.0 per cent compared to 2012.

EBITDA margin was 6.6 per cent.

JBS Mercosul recorded net revenue of R$25,820.5 million, up 43.3 per cent compared to 2012.

EBITDA for the year was R$2,712.4 million, increase of 9.8 per cent compared to 2012, with an EBITDA margin of 10.5 per cent.

The chicken unit in the USA (PPC) had the best year in its history in 2013 and posted a net revenue of $8,411.1 million, 3.6 per cent higher than in 2012.

EBITDA was $805.4 million, 100.1 per cent higher than 2012, with an EBITDA margin of 9.6 per cent.

Net income in 2013 was US$549.6 million, representing an increase of 215.4 per cent compared to 2012.

Last year saw the acquisition of Seara and union with JBS Chicken Brazil forming JBS Foods.

This new business unit registered strong turn around in its first quarter of operation, allowing the company to expand into the higher value added products segment, in addition to the increase in the portfolio products with strong and well recognised
Brands.

Exports grew by 19.6 per cent compared to 2012, reaching $11.7 billion in 2013.

JBS generated net cash from operating activities of R$2,541.0 million, with positive free cash flow of R$635.1 million in 2013.

Annualizing fourth quarter 2013 EBITDA, which includes the Seara acquisition, leverage ended the period at 3.17 times.

The company said that even after the integration of a relevant acquisition and strong foreign exchange variation, JBS ended the year with leverage of 3.70 times, compared to 4.03 time in the third quarter of 2013. The reduction of net debt/EBITDA reflects the management commitment in improving its financial indicators and, consequently, the reduction of its leverage.

Company CEO, Wesley Mendonça Batista, said: “The global economic scenario looks favourable. We believe that the recovery of the US dollar has not yet ended.

“Our feeling is that the US dollar will continue to strength in relation to the Brazilian Real and that our exports, as well as the valuation of our assets, will continue to be benefitted.

“It is worthwhile to remember that the Company’s exports last year were approximately $12 billion, a relevant increase of 20 per cent in relation to 2012.

“This increase of about $2 billion in exports was due essentially to two factors.
The first is the increase in consumption and demand in the emerging markets. The second is the increase in the number of countries that we are exporting to.

“More than 150 nations receive JBS products from a production platform consolidated in the most competitive regions in the world. This fact demonstrates a consistency in our exports that guarantees access to 100 per cent of the consuming markets.

“We have identified in our business that the word “convenience” is more and more present. A tendency observed in many countries is that people look for more convenience and practicality in food. Translated for our business this means offering to our customers more customised products, easier to prepare and higher value added.

“Based on this we created JBS Foods last year. The new business unit combines our poultry and pork assets and processed products in Brazil together with the Seara operations taken over in October 2013.

“In the first three months of this unified operation we have had good results. Strong brands and a portfolio of revitalised products that offer convenience to the consumer are the guidelines that will drive our growth strategy in these categories during the coming years.”

Mr Baptista added: “We are projecting that the export sales of the Company will be approximately $15 billion, which represents an increase of over 20 per cent in relation to 2013.

“The two important sporting events that will occur in Brazil in 2014 and 2016 will support the demand for proteins in the country leveraging our successful strategy of strengthening our brands.

“In the USA we estimate that the offer of beef and pork will remain tight in relation to demand, in a scenario similar to that of 2013. We believe there is space for price adjustments without affecting demand e consequently improving our margins in both operations. In the case of chicken, availability should remain stable in relation 2013, which favours Pilgrim’s maintaining in 2014 its trajectory of growth and excellent results, an example of what happened last year.

“Finally, Australia will continue to attend the increasing demand from the growing middle classes in Asia.”