Significant Profit Growth
EBITDA increased by 38.9% to $2.25 billion, operating profit increased by 71% to $1.79 billion, and profit attributable to owners increased by 90% to $1.0 billion compared to last year.
Strong North America Performance
Operating profit in North America increased by 589% to $841 million, with packaged meats profit increasing by 11.6% and pork business turning from a loss to a profit.
European Business Growth
Operating profit in Europe increased by 64.2% to $225 million, with packaged meats' operating profit up 50% and pork business profit up 64% compared to last year.
Improved Cost Structure in U.S. Hog Production
U.S. hog production turned profitable with a cost reduction of 30% in feed costs, driven by genetic improvements and better health management.