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MarketScreener Homepage  >  Equities  >  Bolsa de Valores de Sao Paulo  >  JBS SA    JBSS3   BRJBSSACNOR8

JBS SA

(JBSS3)
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JBS : MINUTES OF THE FISCAL COUNCIL MEETING HELD ON NOVEMBER 10, 2020

11/30/2020 | 03:45am EST

JBS S.A.

Corporate Taxpayer's ID (CNPJ/ME): 02.916.265/0001-60

Company Registry (NIRE): 35.300.330.587

Minutes Book

EXCERPT OF THE MINUTES OF THE FISCAL COUNCIL MEETING

HELD ON NOVEMBER 10, 2020

Date, Time and Venue: November 10, 2020, at 2:00 p.m., at the headquarters of JBS S.A. ("Company"), located at Avenida Marginal Direita do Tietê, 500, Bloco I, 3º Andar, Vila Jaguara, CEP 05118-100, in the city and state of São Paulo, via video conferencing.

Call Notice: The call notice was sent via e-mail to all members of the Fiscal Council, pursuant to Article 12 of the Internal Regulations of the Company's Fiscal Council.

Attendance: All the members of the Company's Fiscal Council were present, namely Adrian Lima da Hora; José Paulo da Silva Filho; Demetrius Nichele Macei and Maurício Wanderley Estanislau da Costa, reaching the necessary quorum for the meeting.

The meeting was also attended by Guilherme Perboyre Cavalcanti, Chief Financial and Investor Relations Officer; Eliseo Santiago Perez Fernandez, Chief Administrative and Control Officer; Agnaldo dos Santos Moreira Jr., Accounting and Corporate Administration Director; Andrea Riva, Accounting Manager; Marlos Franco de Oliveira, Internal Controls and Risk Management Director; and Alcides Neto and Luis Paulo de Oliveira, representatives of Grant Thornton Auditores Independentes ("Grant Thornton").

Presiding: Adrian Lima da Hora, Chairman; and Milena Hitomi Yanagisawa, Secretary.

Agenda: (i) presenting an overview of the market and the operations of the Company and its subsidiaries for the quarter ended September 30, 2020; (ii) analyzing the Company's condensed interim financial information for the period ended September 30, 2020 ("Interim Financial Information"), accompanied by the independent auditors' report on the Interim Financial Information ("Auditors' Report") issued by Grant Thornton, the Company's independent auditor; and (iii) discussing the audit work for the quarter ended September 30, 2020 with Grant Thornton.

Resolutions:

  1. Guilherme Perboyre Cavalcanti began the meeting by presenting an overview of the operations of the Company and its subsidiaries in the period ended September 30, 2020, highlighting

the results of each business unit of the Company. During his presentation, Guilherme Perboyre Cavalcanti informed the members of the Fiscal Council of the main events related to the quarter ended September 30, 2020.

The members of the Fiscal Council asked questions, which were duly answered by Guilherme Perboyre Cavalcanti.

  1. Subsequently, the members of the Fiscal Council received copies of the Interim Financial Information (via the Diligent portal prior to the meeting) and analyzed it. During the analysis of the Interim Financial Information, Eliseo Santiago Perez Fernandez, Aguinaldo dos Santos Moreira Jr. and Andrea Riva presented their considerations about the main items of the Interim Financial Information.

The members of the Fiscal Council asked questions and made comments on the Interim Financial Information, which were answered by Eliseo Santiago Perez Fernandez, Agnaldo dos Santos Moreira Jr. and Andrea Riva.

  1. In addition to the analysis, Alcides Neto made a presentation on the work carried out by Grant Thornton related to the Interim Financial Information, highlighting the independence of the audit work, the communication required from auditors, the status of the field work and the development of the audit work and the Company's internal controls in the quarter, highlighting that no material adjustments were identified in the quarterly review. Subsequently, Alcides Neto commented on the status of the internal investigations and meetings held with attorneys, and all questions from Board members were duly answered by the Grant Thornton representative.

Grant Thornton's presentation is filed at the Company's headquarters and attached to these minutes under Annex I.In addition, Alcides Neto answered the questionnaire about the work carried out by Grant Thornton related to the Company's Interim Financial Information for the period ended September 30, 2020. A copy of said questionnaire is filed at the Company's headquarters and attached to these minutes under Annex II.

Minutes in Summary Form: The Fiscal Council authorized the drawing up of these minutes in the summary form and the publication of it omitting the signatures of the attendees, pursuant to Article 130, paragraphs 1 and 2, of Brazilian Corporate Law.

Closure: There being no further business to discuss, the Chairman offered the floor to anyone who intended to speak and, as no one did, the meeting was adjourned for the time necessary to draw up these minutes, which were then read, approved and signed by all attendees.

São Paulo, November 10, 2020

Adrian Lima Da Hora

Milena Hitomi Yanagisawa

Chairman

Secretary

Attending Members:

Adrian Lima Da Hora

José Paulo da Silva Filho

Demetrius Nichele Macei

Mauricio Wanderley Estanislau da Costa

ANNEX I

GRANT THORNTON PRESENTATION

ANNEX II

QUESTIONS ABOUT GRANT THORNTON AUDIT WORK

Disclaimer

JBS SA published this content on 25 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2020 08:44:06 UTC


© Publicnow 2020
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Financials
Sales 2020 267 B 49 814 M 49 814 M
Net income 2020 3 039 M 568 M 568 M
Net Debt 2020 47 415 M 8 854 M 8 854 M
P/E ratio 2020 21,0x
Yield 2020 2,95%
Capitalization 63 354 M 11 822 M 11 830 M
EV / Sales 2020 0,42x
EV / Sales 2021 0,37x
Nbr of Employees 242 000
Free-Float 35,1%
Chart JBS SA
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JBS SA Technical Analysis Chart | JBSS3 | BRJBSSACNOR8 | MarketScreener
Technical analysis trends JBS SA
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 13
Average target price 35,77 BRL
Last Close Price 24,14 BRL
Spread / Highest target 149%
Spread / Average Target 48,2%
Spread / Lowest Target 3,56%
EPS Revisions
Managers and Directors
NameTitle
Gilberto Tomazoni Chief Executive & Operating Officer
Jeremiah Alphonsus O'Callaghan Chairman
Guilherme Perboyre Cavalcanti Chief Financial Officer
José Batista Sobrinho Vice Chairman
Cledorvino Belini Independent Director
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