JBS SA reported a significant increase in net profit for the fourth quarter of 2024, despite challenges in its U.S. beef division due to high cattle prices, according to Reuters.
The company posted a profit of 2.412 billion reais ($423.57 million), a sharp rise from 83 million reais ($14.47 million) the previous year. The adjusted earnings before interest, tax, depreciation and amortization (EBITDA) reached 10.789 billion reais ($1.88 billion), surpassing analyst expectations. CEO Gilberto Tomazoni noted that the U.S. beef business improved despite cattle shortages and rising costs, with EBITDA at 647.1 million reais ($112.86 million).
Vivera, a subsidiary of JBS SA, is reported to be acquiring The Vegetarian Butcher from Unilever, though financial details were not disclosed, according to Food Business News. Vivera produces plant-based meat alternatives, while The Vegetarian Butcher, founded in 2010, sells plant-based products in 55 global markets.
