JBS has a profit of R $2.18 billion in the 2nd quarter

JBS reported on Wednesday that it had a net profit of R $2.18 billion in the second quarter, exceeding analysts ' expectations, as an outbreak of African swine fever in China boosted exports. The profit of the company before interest, taxes, depreciation and amortization (EBITDA) totaled R $5.099 billion, a record and above the expectations of analysts of R $4.535 billion, according to data from Refinitiv. Net revenues advanced 12.5%, to R $50.8 billion. The result came out on the same day that rival Marfrig, the world's largest burger producer, released a result that showed a reversal of damage from a year earlier and a 13% increase in EBITDA, to R $1.11 billion. "The outbreak of African swine fever in many countries has contributed to an increase in exports and represents an opportunity for growth in our business," JBS said on the balance sheet. In Brazil, sales of the processed food division Seara rose 24.3%, to R $5.08 billion. In North America and Australia, two major operating bases for the group, beef business maintained strong performance, driven by local demand and higher export volumes, the company said.