FUTURETEND PTY LTD

Bankruptcies Brazilian state-run lender Banco do Brasil, the country's second-largest by assets, launched a campaign in June to combat a rise in bankruptcy filings in the agribusiness sector, said a senior executive on Wednesday. Brazilian agriculture retailer AgroGalaxy filed for bankruptcy last week, adding to the trend in the farming powerhouse, affected by declining commodity prices and extreme weather events, including unprecedented flooding and drought. Credit bureau Serasa reported that 321 companies offering products and services directly tied to agribusiness filed for bankruptcy last year, rising 82% from 2022. https://lnkd.in/dHuBXz4j "The bankruptcy process for rural producers is unhealthy," said Felipe Prince, Banco do Brasil's vice president of internal controls and risk management...

Bankruptcies Brazilian state-run lender Banco do Brasil, the country's second-largest by assets, launched a campaign in June to combat a rise in bankruptcy filings in the agribusiness sector, said a senior executive on Wednesday. Brazilian agriculture retailer AgroGalaxy filed for bankruptcy last week, adding to the trend in the farming powerhouse, affected by declining commodity prices and extreme weather events, including unprecedented flooding and drought. Credit bureau Serasa reported that 321 companies offering products and services directly tied to agribusiness filed for bankruptcy last year, rising 82% from 2022. https://lnkd.in/dHuBXz4j "The bankruptcy process for rural producers is unhealthy," said Felipe Prince, Banco do Brasil's vice president of internal controls and risk management...

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Join the waiting list now!! The ADAMftd Single Source of Truth! click on the following link to join the waiting list brought to you by International Trade Council. https://lnkd.in/dMBuNyFd Etienne Van Vuuren Frank Leggio

We are proud to be featured in the prestigious yearly edition of Standard Bank Top Women Leaders 2024. They vetted 13 000 woman owned companies, of which Futuretend made the top 100 list overall and one of the Top Supply Chain companies who comply with national and international regulatory requirements and international laws. (Scroll to page 140 and 141 to read about Futuretend in this magazine) Etienne Van Vuuren Frank Leggio

Poultry and pork drive financial records for JBS. In the last quarter, JBS and BRF, 2 giants in Brazil’s poultry and pork production sector, recorded their best ever financial results. The reported results are a consequence of high global demand for animal protein, favourable exchange rates for exports, growing domestic consumption, the easing of sanitary restrictions, and lower input costs, such as corn and soybeans. Industry experts indicate that if current conditions persist, both JBS and BRF have the potential to continue on an upward trajectory. But, they caution about possible challenges, such as exchange rate volatility, uncertainty in grain supply, and potential trade barriers that may arise in strategic markets. JBS, the largest meat company in the world JBS reported significant growth in its revenues and profits and achieved a net income of US$20.3 billion in the second quarter of 2024, which is an increase of 12.6% compared to the same period in 2023. During the same period, the company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) almost doubled, reaching US$2 billion, while net profit was US$340 million. These results were primarily driven by poultry and pork operations, which contributed 75% of the company’s EBITDA, with particular emphasis on Pilgrim’s, Seara, and JBS USA Pork units. The company attributes this success to increased exports, especially to Asian markets, where demand for Brazilian pork has been growing due to post-pandemic economic recovery and the impact of African Swine Fever on local production. Etienne Van Vuuren Frank Leggio

Poultry and pork drive financial records for JBS. In the last quarter, JBS and BRF, 2 giants in Brazil’s poultry and pork production sector, recorded their best ever financial results. The reported results are a consequence of high global demand for animal protein, favourable exchange rates for exports, growing domestic consumption, the easing of sanitary restrictions, and lower input costs, such as corn and soybeans. Industry experts indicate that if current conditions persist, both JBS and BRF have the potential to continue on an upward trajectory. But, they caution about possible challenges, such as exchange rate volatility, uncertainty in grain supply, and potential trade barriers that may arise in strategic markets. JBS, the largest meat company in the world JBS reported significant growth in its revenues and profits and achieved a net income of US$20.3 billion in the second quarter of 2024, which is an increase of 12.6% compared to the same period in 2023. During the same period, the company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) almost doubled, reaching US$2 billion, while net profit was US$340 million. These results were primarily driven by poultry and pork operations, which contributed 75% of the company’s EBITDA, with particular emphasis on Pilgrim’s, Seara, and JBS USA Pork units. The company attributes this success to increased exports, especially to Asian markets, where demand for Brazilian pork has been growing due to post-pandemic economic recovery and the impact of African Swine Fever on local production. Etienne Van Vuuren Frank Leggio

BRF improved profitabilty for 6th year runing Similarly, BRF celebrated its best second quarter of financial results in its history. The company posted one of its strongest performances between April and June, with a net profit of US$220 million and free cashflow of $340 million. The company improved its profitability for the 6th consecutive quarter, achieving a margin of 17.6%, and a 22.3% revenue increase compared to the same period in 2023. BRF recorded an EBITDA of US$520 million, also the best result ever. The company highlighted the strengthening of the domestic market, with increased consumption of poultry and pork, coupled with efficient cost management, which resulted in higher operating margins. Exports to the Middle East and Asia significantly contributed to the record performance. Etienne Van Vuuren Frank Leggio

BRF improved profitabilty for 6th year runing Similarly, BRF celebrated its best second quarter of financial results in its history. The company posted one of its strongest performances between April and June, with a net profit of US$220 million and free cashflow of $340 million. The company improved its profitability for the 6th consecutive quarter, achieving a margin of 17.6%, and a 22.3% revenue increase compared to the same period in 2023. BRF recorded an EBITDA of US$520 million, also the best result ever. The company highlighted the strengthening of the domestic market, with increased consumption of poultry and pork, coupled with efficient cost management, which resulted in higher operating margins. Exports to the Middle East and Asia significantly contributed to the record performance. Etienne Van Vuuren Frank Leggio