MINERVA FOODS FILES EBITDA OF R$ 962.5 MILLION IN THE FIRST QUARTER OF 2025

Rhea-AI Summary

Minerva Foods (MRVSY) reported strong financial results for Q1 2025, with record EBITDA of R$ 962.5 million, marking a 53% increase year-over-year and an EBITDA margin of 8.6%. The company achieved consolidated gross revenue of R$ 11.9 billion, up 55% from Q1 2024, with exports representing 56% of total revenue. Net revenue reached a quarterly record of R$ 11.2 billion, up 56% year-over-year. The company reported a net profit of R$ 185 million. Net leverage remained stable at 3.7x. Notably, Minerva approved a capital increase of up to R$ 2 billion to reduce debt. The company maintains its position as South America's leading beef exporter with approximately 21% market share and demonstrated improved sustainability performance, advancing in the BBFAW ranking.

Positive

• Record quarterly EBITDA of R$ 962.5 million, up 53% YoY
• Gross revenue increased 55% YoY to R$ 11.9 billion
• Record quarterly net revenue of R$ 11.2 billion, up 56% YoY
• Positive net profit of R$ 185 million in Q1 2025
• Leading market position in South America beef exports with 21% share
• Approved capital increase of R$ 2 billion to reduce debt

Negative

• High leverage ratio at 3.7x Net Debt/Adjusted EBITDA
• Potential shareholder dilution from R$ 2 billion capital increase

Consolidated gross revenue in the quarter was R$ 11.9 billion, up by 55% year on year

SÃO PAULO, May 7, 2025 /PRNewswire/ -- Minerva Foods (Minerva S.A. – B3: BEEF3 | OTC – Nasdaq International: MRVSY), the leading exporter of fresh beef and its derivatives in South America, and which also operates in the processed products segment, has announced its financial results for the first quarter of 2025 (1Q25) to the market. The following financial and operational information is presented in BRGAAP, in Reais (R$), per International Financial Reporting Standards (IFRS).

EBITDA for the first quarter of 2025 was R$ 962.5 million, a record for a quarter, with an EBITDA margin of 8.6% and growth of 53% compared to the first quarter of 2024 (1Q24). Over the last 12 months, EBITDA was R$ 3.5 billion, with an EBITDA margin of 9.1%. Adjusted EBITDA totaled R$ 4.3 billion, considering the pro forma performance of the new assets over the seven-month period.

Consolidated gross revenue in 1Q25 was R$ 11.9 billion, up 55% from 1Q24 and 4% on the previous quarter, with exports representing 56% of the total. In the last twelve months, gross revenue totaled R$ 40.6 billion, up by 37% on the 12 months ended in the first quarter of 2024, with exports accounting for 57% and reinforcing our leadership in beef exports in South America, with a market share of approximately 21%.

Net revenue totaled R$ 11.2 billion in the first quarter of 2025, a record for a single quarter, up 56% compared to the same period in 2024 and 5% higher quarter over quarter. Over the last twelve months, consolidated net revenue reached R$ 38.1 billion, an increase of 38% year over year. The net result was positive, totaling R$ 185 million in the first quarter of 2025.

Net leverage at the end of March, measured by the Net Debt/Adjusted EBITDA indicator over the last 12 months, ended the quarter stable at 3.7x*.

It should be noted that at an Extraordinary General Meeting on April 29, the Company approved a capital increase of up to R$ 2 billion, or 386.847.196 new shares. The resources from this operation will be entirely allocated to paying down debt and the leverage level of Minerva Foods.

*Adjusted for proforma EBITDA of 13 new assets acquired from Marfrig in South America (7 months): R$ 788 million.

Highlights in Sustainability

For the fifth consecutive year, Minerva Foods was included in the portfolios of the Carbon Efficient Index (ICO2) and the Corporate Sustainability Index, both of B3, the Brazilian Stock Exchange. The company also rose from Tier 4E to Tier 3D, in the Business Benchmark on Farm Animal Welfare (BBFAW), becoming the best company in Latin America in good animal welfare practices in the beef protein segment.

About Minerva Foods

Minerva Foods is the largest beef exporter in South America and operates in the processed segment, selling its products to more than 100 countries. In addition to Brazil, Minerva Foods is present in Paraguay, Argentina, Uruguay, and Colombia, and has lamb plants in Australia and Chile, totaling more than 30,000 employees. The company serves five continents with beef, lamb, and their derivatives, and currently operates 46 industrial units, 17 international offices, and 23 distribution centers.

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SOURCE Minerva Foods

FAQ

What was Minerva Foods (MRVSY) EBITDA in Q1 2025?

Minerva Foods reported EBITDA of R$ 962.5 million in Q1 2025, representing a 53% increase year-over-year and achieving an EBITDA margin of 8.6%.

How much revenue did Minerva Foods generate in Q1 2025?

Minerva Foods generated consolidated gross revenue of R$ 11.9 billion in Q1 2025, up 55% from Q1 2024, with exports accounting for 56% of total revenue.

What is Minerva Foods' market share in South American beef exports?

Minerva Foods maintains leadership in South American beef exports with approximately 21% market share.

How much capital is Minerva Foods planning to raise in 2025?

Minerva Foods approved a capital increase of up to R$ 2 billion, or 386,847,196 new shares, with the proceeds intended for debt reduction.

What is Minerva Foods' current leverage ratio?

Minerva Foods' net leverage ratio, measured by Net Debt/Adjusted EBITDA over the last 12 months, stood at 3.7x at the end of March 2025.