2
HIGHLIGHTS
FOR THE YEAR



FINANCIAL

Net revenue of

R$162.9 BI,

up 35.2% (R$42.4 billion) over 2014.

Net income of

R$4.6 BI,

up 127.9% over 2014.

Operating cash flow of

R$21.2 BI,

up 136.0% over 2014.

EBITDA of

R$13.3 BI,

up 19.9% over 2014. The EBITDA margin was 8.2%.

Free cash flow before acquisitions of

R$17.0 BI,

up 169.3% over the previous period.

Net debt of

R$47.0 BI

and leverage of 3.18x. Leverage adjusted for the pro forma results from acquisitions was 2.91x. Dollarized net debt, in turn, totaled US$12.0 billion.

Credit rating raised by the three major rating agencies.


MAIN INDICATORS

2015 2014 2013 2012 2011
Economic and Financial Indicators - R$ million
Net Operating Revenue 162,914.53 120,469.70 92,902.80 75,696.70 61,796.80
Cost of Goods Sold -140,324.20 -101,796.30 -81,056.10 -67,006.90 -55,100.20
Gross Profit 22,590.30 18,673.40 11,846.70 8,689.80 6,696.60
Gross Margin (%) 13.90% 15.50% 12.80% 11.50% 10.80%
EBITDA 13,300.40 11,090.00 6,130.30 4,410.30 3,151.00
EBITDA Margin 8.20% 9.20% 6.60% 5.80% 5.10%
Net Income 4,640.10 2,035.90 926.90 718.90 -75.70
Net Margin (%) 2.80% 1.70% 1.00% 0.90% -0.10%
Investments 21,603.87 4,276.85 1,905.91 1,870.29 704.36
Net Debt 47,038.70 25,168.70 23,748.20 15,105.90 13,584.00
Operating Cash Flow 21,206.40 8,987.00 2,541.05 1,472.26 606.51
Free Cash Flow -397.47 4,710.16 635.13 -398.04 -97.85
Socio-environmental Indicators
Number of employees 227,168 208,503 191,426 141,628 135,187
Total GHG Emissions, by weight (tCO2e) - Scope 1 4,445,098.00 4,411,977.13 3,877,792.00 2,423,078.00 403,902.00*
Total GHG Emissions, by weight (tCO2e) - Scope 2 1,779,980.77 1,457,679.79 2,423,078.00 1,274,401.00 16,083.00*
Volume of water consumed (thousand cubic meters) 161,027.00 N/A** N/A** N/A** N/A**
Investments in management and environmental improvements (R$) 716,550,063.28 N/A** N/A** N/A** N/A**
*In the GHG emissions inventory of 2011 were considered activities of Vigor Alimentos S.A., which was controlled by JBS S.A. In 2012, Vigor became a listed company and was not considered in the analysis. **From 2011 to 2014 data were collected in Brazil only. Information are available in the previous reports.