BRAZIL – JBS has announced to its shareholders and the market its forecasted net revenue of BRL409.4 billion (US$76.5 billion) for the 2024 fiscal year.
The Brazil-based meat and poultry company has also projected an EBITDA ranging from BRL33.4 billion (US$6B) to BRL36.2 billion (US$6.6B).
These estimates were disclosed following a directive from the Brazilian Securities and Exchange Commission (CVM).
The company detailed that its projections were grounded in its operational history and accounting practices, considering factors such as the company’s past performance, the expected impact of market conditions in its operational areas, and adherence to historical accounting principles.
In a separate development, JBS has entered into a partnership with GreenGasUSA, a US-based firm, to convert animal waste into biogas.
The initiative will involve GreenGasUSA managing the collection, processing, and trading of biogas derived from methane at JBS facilities.
This project will be implemented at two beef processing plants in Nebraska and Utah, and a chicken processing plant in South Carolina.
JBS anticipates that the biogas scheme will reduce greenhouse gas emissions equivalent to the annual emissions from 60 million miles driven by a car or the burning of 26 million pounds of coal.
The Sumter, South Carolina, facility is expected to complete its project by early 2025, while the Nebraska and Utah projects are projected to conclude by the end of 2025.
JBS, recognized as the world’s leading poultry producer and a significant player in the beef and pork markets, also holds a majority stake in Pilgrim’s Pride, the second-largest poultry company in the United States.
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