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JBS Global
Prepared &
Others
30%
Capacity to process
LTM Revenue
2Q15
R$137.8 bi
Bovines
40%
Pork
10%
Poultry
20%
units worldwide
denominated in
US$
North America
London
Ghent
Hamburg
Toronto
Seoul
Tokyo
Shanghai
Dubai
Caracas
17% of JBS
Revenue is
Exports
~30.7% of JBS revenue
So Paulo
(headquarter)
denominated in
R$
Taipei
Hong Kong
Santiago
South America
~17.6% of JBS revenue,3
Sales office
Sales office presence
Production Platform
9.2%
5.5%
4.3%
3.8%
6.6%
5.8%
5.0%
137.8
3.7%
120.5
92.9
75.7
61.8
54.7
30.3
14.1
1.2
0.6
2007
2008
13.2
11.1
34.3
1.3
2009
2010
Net Revenue (R$ billion)
3.5
3.1
2011
2012
EBITDA (R$ billion)
4.4
6.1
2013
EBITDA Margin(%)
2014
LT2Q15
Value Creation
17.2%
18.8%
6.2%
2,638M
1,592M
1,611M
2007
Pre JBS
LTM
Q2/2015
2009
Pre JBS
LTM
Q2/2015
2013
Pre JBS
LTM
Q2/2015
5
JBS Strategy
8+%
4+%
Processing platform
Step 2:
Expand global distribution platform to reach
clients; sell direct to customers in foreign
markets
Step 1:
Develop efficient and diversified
global processing platform; optimize
mix
Why JBS?
GLOBAL LEADER
CONSISTENT GROWTH AND MARGIN EXPANSION
DIVERSIFICATION
GEOGRAPHY
PROTEIN
PRODUCT PORTFOLIO
STABLE EARNINGS
Consolidated Results
9.2%
38,905
8.4%
28,969
3,577
2,433
34.3%
2Q14
2Q15
2Q14
47.0%
2Q15
0.09
675
0.03
358.4%
254
147
80
2Q14
2Q14
2Q15
2Q15
Leverage (x)
Adjusted Leverage*
3.2x
2.4x
2.3x
34,824
11,221
11,224
24,714
2Q14
2Q15
2Q14
2Q15
Greater China
14.7%
Others
9.2%
Canada
2.5%
Russia
4.6%
E.U.
5.2%
2Q15
US$ 3,970.8
million
South Korea
7.1%
Others 16.6%
South America
11.7%
USA
10.2%
2Q14
US$4,305.1
million
Canada 2.5%
South Korea 4.1%
Russia 6.5%
Japan
10.4%
Mexico
10.4%
E.U. 6.6%
Japan 9.5%
Mexico 10.7%
12
13
CAPEX
R$998.3 million from Additions to property, plant and equipment and intangible assets, of
which approximately 50% was related to expansion and modernization of facilities and 50%
in maintenance.
In 2Q15 , the Company generated net cash flow from operations of R$675.1 million.
Cash Generation
Free cash flow generation, after Capex, was negative in R$ 1,415.5 million, due to payment for the
acquisition of Tyson Mexico of US$400 million.
14
Debt Profile
Leverage (x)
Adjusted Leverage*
3.2x
2.4x
2.3x
34,824
24,714
2Q14
2Q15
13.14% p.a.
11,221
11,224
2Q14
2Q15
Breakdown by Source
Breakdown by Company
R$
13%
Commercial
Banks
52.6%
JBS USA
Holdings
38%
Capital
Market
47.3%
US$
87%
JBS S.A.
49%
JBS Foods
13%
4.92% p.a.
BNDES
0.1%
15
Debt Profile
2Q14
28%
72%
3Q14
30%
70%
1Q15
4Q14
34%
66%
29%
2Q15
71%
33%
67%
Short Term
Long Term
11,471
8,361
2,075
Short term*
* Net of Cash
2,866
2,771
3,529
3,017
734
2016
2017
2018
2019
2020
2021
after 2021
16
Business Units
17
JBS Foods
JBS Mercosul
7.5
4.5
3.4
3.1
3.6
3.9
6.3
14.3%
6.8
6.5
7.2
440.4
1,028.3
2.2
937.8 964.0
634.3
8.6%
7.1%
5.5%
5.6% 5.2%
2.0%
554.6 534.1
3.6% 3.8%
504.9
376.4 376.8
325.1
2.3
2.1
2.1
2.1
762.3 795.0
5.2
15.5%
113.8 113.2
338.6
95.7
93.2
186.6 228.5
64.6
108.6
5.9
5.9
8.6%
10.1%
789.4
656.1 616.0
5.8
5.3
576.0
435.4
367.8 363.5
425.8
18
JBS Foods
Leading producer of prepared foods (PFPs) and fresh poultry and pork products
Operational Platform
Brazil
+66,000 employees
CE
BA
MT
DF
1
1
1
MG
SP
MS
RS SC
17 distribution centers
In 13 states
PR
5
23 PFP units
3
1
RJ
17 distribution centers
R$15.4 billion
R$2,637.6 million
17.2% Margin
19
% NR JBS S.A.
JBS Foods
47%
12%
19%
17.7%
4,459.6
789.4
14.3%
3,084.5
440.4
44.6%
2Q14
2Q15
79.3%
2Q14
2Q15
JBS Foods
External Market Seara Presence in Retail
Domestic Market
Size of the Brazilian and its Growth
(k tons) (1)
18
163
JBS Foods
Market Share Gain( (2)
+0.9%
18
+9.7 p.p.
-0.4%
162
+1.2 p.p.
+ 7.2%
463
+2.3 p.p.
497
+ 7.5%
107
1S14
Frozen Products
+10.9 p.p.
115
1S15
Processed Products
Margarines
Pizzas
Source: AC Nielsen
(1) Processed Products + Margarines 1S (Jan-Jun) 2S Jul-Dec / Frozen Products +Pizzas: 1S (Dez-May) 2S (Jul-Nov)
(2) Includes Excelsior. Pizzas and Processed Products May/Jun14 x May/Jun15 and Fronzen Products and Margarines
Abr//May14 x Apr//Ma15
Innovation
21
JBS Mercosul
Beef production in Brazil, Argentina, Paraguay and Uruguay, in addition to leather and other Related Business
Operational Platform
Brazil
+70,000 employees
PA
AM
AC
1
1
RO
MA
2
4
MT
6
15
3
4
3
1
9
3
1
5
4
2
2
2
1
2
MS
44 distribution centers
1
2
1
06 feedlots
MG
1
1
PE
3
2
6 GO
PR
BA
CE
30 tanneries
ES
RJ
2
43 distribution centers
SP
SC
RS
09 related businesses
Argentina
Leadership in beef production
Biodiesel
Can making
Collagen
Paraguay
JBS is the leader in beef processing and has around 25% of market share in
exports of Paraguay
JBS Carriers
Trading
Uruguay
Great access to export markets; the only country to export fresh beef to the US
01 beef processing
02 tanneries
Casings
TRP Complementary to JBS
Carriers
Recycling
R$28.0 billion
R$1,841.9 million
6.6% Margin
22
% NR JBS S.A.
JBS Mercosul
19%
7,205.4
10.1%
6,291.4
5.2%
634.3
376.8
14.5%
-40.6%
2Q14
2Q15
2Q14
2Q15
United States
+30,000 employees
WI
ID
NE
28,000 in the US
UT
4,000 in Canada
CO
1
2
PA
KS
9,000 in Australia
OK
AZ
11 feedlots
MI
01 tannery
TX
5,000 in the US
3
1
06 carriers units
6,000 in Australia
16 feedlots (bovine)
bovines
bovines
14 distribution centers
1
15 processing facilities
2
2
4
1
Canada
Growth of 49% in revenues from 2013 to 2014
07 feedlots
05 bovine and 02 lamb
01 tannery
14 distribution centers
03 case ready and 03 small goods facilities
01 beef processing facility
01 feedlot (bovine)
01 trading
units in the US
US$22.9 billion
US$1,245.1 million
5.4% Margin
24
% NR JBS S.A.
6%
16%
47%
12%
19%
5,941.9
5,331.4
3.8%
2.0%
228.5
11.5%
2Q14
108.6
2Q15
2Q14
110.4%
2Q15
United States
+6,000 employees
100% in the US
IA
1
CO
1
Convenience products
KY
CA
NC
1
Products
Main Brands
Swift Premium
Dry Rubbed Ribs
Swift Premium
Boneless Backrib
Swift Premium
Boneless Pork Chops
US$3.5 billion
US$366.7 million
10.6% Margin
26
% NR JBS S.A.
6%
11.1%
1,028.3
113.8
8.1%
795.0
64.6
-22.7%
2Q14
-43.2%
2Q15
2Q14
2Q15
United States
+44,000 employees
WV
TN
AR
17 distribution centers
TX
4
1
Located in Mexico
KY
AL
LA
3
1
1
VA
1
NC
1
1
24 processing facilities
2
SC
GA
7
1
FL
1
1
Mexico
28 feed mills
Porto Rico
01 processing facility
US$8.5 billion
US$1,592.4 million
18.8% Margin
28
% NR JBS S.A.
16%
20.7%
2,186.8
2,053.9
15.5%
425.8
338.6
-6.1%
25.7%
2Q14
2Q15
2Q14
2Q15
29
Recently Announced
Acquisitions
30
Moy Park
31
Source: Company
+37.5%
5,508
Processed
food
51%
4,723
4,006
Fresh poultry
42%
2013
2014
Footprint
Fresh poultry
UK Convenience
EU Convenience
Breeding Grounds
Ballymena
Dungannon
Craigavon
Dublin
Anwick
Ashbourne
Grantham
Huntingdon
Peterborough
Schagen
Marquise
HninBeaumont
Orleans
32
Cargill Pork
Business Unit
33
Financial Highlights
Footprint
1
1
1
5 Feed Mills.
2
1
1
2
1
Feed mill
Procesing facilities
Genetics
34
Mission