2ND Quarter 2024

On August 14th, JBS held another edition of the ’Coffee with the Presidents, promoting employee integration and discussing the results for the second quarter 2024. Gilberto Xandó, CEO of JBS Brazil, highlighted the role of Culture in the Company’s success. He emphasised that JBS’s values, such as Ownership Attitude, Discipline, and Determination, were crucial to the business’s recovery, with JBS Brazil contributing significantly to the Company’s record net revenue.

Fernando Meller, JBS’s Global Director of Human Resources, reinforced the Company’s commitment to its employees, stressing the importance of the Employee Engagement Survey and urging everyone to participate by September 30. He mentioned the 27,000 promotions that have already taken place in 2024 and emphasized that listening to employees and promoting a positive work environment are ongoing priorities for JBS.

Flavio Gomes Malnarcic, Executive Director of Administration and Controls, representing João Campos, President of Seara, highlighted not only the business results but also product innovations, such as the line of casseroles and breaded products with sauce, which are meeting the growing demand for convenience.

JBS achieved outstanding results in the second quarter of 2024. These figures exceed market estimates and demonstrate an impressive recovery trajectory: werecorded a record R$ 100.6 billion in net revenue, a consolidated Ebitda margin of 9.8% for the period, adding 5 percentage points compared to the second quarter of 2023. We generated US$ 1.9 billion in Ebitda, US$ 1.1 billion in free cash flow during the period, and a Net Profit of R$ 1.7 billion.

With an Ebitda margin of 17.4%, Seara confirms the optimistic expectations we had signaled in previous quarters. The operational improvement process remains accelerated, now incorporating enhancements in commercial processes. With this new phase, Seara is poised to deliver its full potential in results. Investments made over the past few years are expected to drive growth for the Company. We highlight the two new breaded chicken and sausage plants in Rolândia, Paraná, and the expansion of the plant in Dourados, Mato Grosso do Sul. We are also completing the construction of a new Seara facility in Jeddah, Saudi Arabia, which will quadruple the company’s production capacity for breaded chicken products in the country.

JBS’s results reaffirm our confidence in the Company’s long-term strategy. The strength of our increasingly diversified global platform, combined with our commitment to excellence and innovation, will enable us to continue generating value for all our stakeholders and creating opportunities for our more than 270,000 employees worldwide.