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    JBSS3   BRJBSSACNOR8

JBS S.A.

(JBSS3)
  Report
End-of-day quote. End-of-day quote Bolsa de Valores de Sao Paulo - 08/02
32.85 BRL   +2.50%
07/20JBS Bids to Hook Huon Aquaculture
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07/09JBS S A : U.S. pledges $500 million to increase meat processing capacity
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JBS S A : Meat company JBS confirms it paid $11M ransom in cyberattack

06/09/2021 | 08:48pm EDT

The world’s largest meat processing company says it paid the equivalent of $11 million to hackers who broken into its computer system late last month.

Brazil-based JBS SA said on May 31 that it was the victim of a ransomware attack, but Wednesday was the first time the company’s U.S. division confirmed that it had paid the ransom.

“This was a very difficult decision to make for our company and for me personally,” said Andre Nogueira, the CEO of JBS USA. “However, we felt this decision had to be made to prevent any potential risk for our customers.”

JBS said the vast majority of its facilities were operational at the time it made the payment, but it decided to pay in order to avoid any unforeseen issues and ensure no data was exfiltrated.

The FBI has attributed the attack to REvil, a Russian-speaking gang that has made some of the largest ransomware demands on record in recent months. The FBI said it will work to bring the group to justice and it urged anyone who is the victim of a cyberattack to contact the bureau immediately.

The attack targeted servers supporting JBS’s operations in North America and Australia. Production was disrupted for several days.

Earlier this week, the Justice Department announced it had recovered most of a multimillion-dollar ransom payment made by Colonial Pipeline, the operator of the nation's largest fuel pipeline.

Colonial paid a ransom of 75 bitcoin __ then valued at $4.4 million __ in early May to a Russia-based hacker group. The operation to seize cryptocurrency reflected a rare victory in the fight against ransomware as U.S. officials scramble to confront a rapidly accelerating threat targeting critical industries around the world.

It wasn't immediately clear if JBS also paid its ransom in bitcoin.

JBS said it spends more than $200 million annually on IT and employs more than 850 IT professionals globally.

The company said forensic investigations are still ongoing, but it doesn't believe any company, customer or employee data was compromised.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News

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More news
Financials
Sales 2021 308 B 59 692 M 59 692 M
Net income 2021 11 070 M 2 148 M 2 148 M
Net Debt 2021 44 490 M 8 632 M 8 632 M
P/E ratio 2021 7,51x
Yield 2021 2,37%
Capitalization 81 880 M 15 997 M 15 886 M
EV / Sales 2021 0,41x
EV / Sales 2022 0,40x
Nbr of Employees 250 000
Free-Float 31,8%
Chart JBS S.A.
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Technical analysis trends JBS S.A.
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TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
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Buy
Mean consensus BUY
Number of Analysts 13
Last Close Price 32,85 BRL
Average target price 41,62 BRL
Spread / Average Target 26,7%
EPS Revisions
Managers and Directors
Gilberto Tomazoni Chief Executive & Operating Officer
Guilherme Perboyre Cavalcanti Chief Financial Officer
Jeremiah Alphonsus O'Callaghan Chairman
Eliseo Santiago Perez Fernandez Director-Administration & Control
Cledorvino Belini Independent Director
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