JBS (JBS) CAGNY 2025 Presentation summary

Strategic growth and global leadership

• Achieved global leadership in poultry, beef, and prepared foods, with strong positions in pork, salmon, eggs, and plant-based segments across multiple continents.

• Expanded through strategic acquisitions and operational excellence, growing net revenues to $77 billion and EBITDA guidance of $6.9–$7.1 billion for 2024.

• Diversified production and sales across North America, South America, Europe, Asia, Australia, and the Middle East, mitigating geopolitical and market risks.

• Built a robust brand portfolio with over 250 production facilities and 300,000+ customers in more than 180 countries.

• Focused on value-added and branded products, driving margin expansion and resilience.

Brand performance and market penetration

• Just Bare in North America achieved 49% CAGR in prepared foods and reached 11 million households.

• In Mexico, brands like Alamesa and Pilgrim's posted double-digit growth and expanded into new segments.

• Seara in Brazil reached 93% household penetration and became the top brand in several categories, with significant market share gains.

• Seara in the Middle East and North Africa grew brand awareness from 37% to 93% and increased market share across key product lines.

• UK brands Richmond and Fridge Raiders grew 73% since 2019, maintaining leadership in fresh and frozen sausage segments.

Financial performance and capital discipline

• Adjusted EBITDA margin improved from a median of 5.1% (2008–2012) to 9.5% (2018–2023), reflecting successful diversification.

• Generated strong free cash flow, supporting investments, dividends, and deleveraging; net leverage reduced to 1.96x by 3Q24.

• Dividend distributions increased significantly, transforming into a dividend stock with 182% total shareholder return since 2019.

• Maintained full investment grade ratings, with an average debt tenor of 11.7 years and average cost of 5.72% p.a.

• Trading at a lower EV/EBITDA multiple than peers, indicating potential upside.