Minerva Foods' free cash flow reaches R$2.5 billion in the third quarter of 2025.

Rhea-AI Summary

Minerva Foods (OTC: MRVSY) reported record third-quarter 2025 results with free cash flow of R$2.5 billion, the highest quarterly level in company history. Net revenue reached R$15.5 billion in 3Q25, up 82.5% YoY and 11.5% QoQ. EBITDA was a quarterly record at R$1.4 billion with an 8.9% margin. Net leverage fell to 2.5x, the lowest since 2022. Exports accounted for 61% of Q3 gross revenue. Year-to-date net income totaled R$763.3 million, with 3Q25 net income of R$120 million. The company repurchased and cancelled bonds totaling USD 384.8 million since January 2025, and R$969.3 million in subscription bonuses remain outstanding through mid-2028.

Positive

• Free cash flow R$2.5 billion (quarterly record)
• Net revenue R$15.5 billion, +82.5% YoY
• EBITDA R$1.4 billion, +70.8% YoY
• Net leverage down to 2.5x (lowest since 2022)
• Repurchased/cancelled USD 384.8 million in bonds since Jan 2025

Negative

• Net income R$120 million in 3Q25 despite record revenue
• Outstanding subscription bonuses of R$969.3 million through mid-2028
• EBITDA margin at 8.9%, indicating moderate profitability

News Market Reaction – MRVSY

-12.17%

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-12.17% News Effect

On the day this news was published, MRVSY declined 12.17%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

This represents the highest level recorded by the Company in a single quarter. During the period, leverage declined to 2.5x, its lowest level since 2022

SÃO PAULO,, Nov. 5, 2025 /PRNewswire/ -- Minerva Foods (Minerva S.A – B3: BEEF3 | OTC – Nasdaq International: MRVSY), a global food company and the largest exporter of beef in South America, reports its financial results for the third quarter of 2025 (3Q25). The following financial and operational information is presented in BRGAAP, in Reais (R$), in accordance with IFRS (International Financial Reporting Standards).

In the third quarter of 2025, free cash flow reached an impressive R$ 2.5 billion, the highest level recorded by Minerva Foods in a single quarter. Since 2018, free cash flow has totaled R$ 10.9 billion.

During the period, net leverage at the end of September, measured by the Net Debt/Adjusted EBITDA indicator, ended the quarter at 2.5x, the lowest level since 2022.

Net revenue totaled R$ 15.5 billion in the third quarter of 2025, a record for a single quarter and a strong increase of 82.5% year over year, and 11.5% compared to the previous quarter. In the last 12 months, consolidated net revenue totaled R$ 51.3 billion, up by 73.9% over the same period last year.

EBITDA for the third quarter of 2025 was R$ 1.4 billion, another quarterly record, with an EBITDA margin of 8.9% and up by 70.8% over the same period in the previous year, and 6.6% compared to the second quarter of 2025. Adjusted EBITDA for the past 12 months, including one month of pro-forma results from new assets, totaled R$ 4.7 billion.

Consolidated gross revenue in the period reached R$ 16.3 billion, an increase of 80.1% compared to the same period in 2024 and 10.7% over the previous quarter, with exports accounting for 61% of the total. In the last 12 months, gross revenue totaled R$ 54.4 billion, up 73.1% on an annual basis, with exports reaching 58%.

Net income for the third quarter of 2025 was R$ 120 million, with the year-to-date total net income of R$ 763.3 million.

The integration of new assets reached its final phase and progressed consistently in the third quarter of 2025, delivering solid operational and financial results. Sales volume grew by 10%, while revenue increased by 11% compared to the previous quarter. This performance contributed to higher profitability and a consequent dilution of the expense structure, resulting in the lowest SG&A-to-revenue ratio since the first quarter of 2021, at 9.3%.

In the period, 5.847.096 subscription bonuses arising from the capital increase were exercised, totaling R$ 30.2 million. Approximately R$ 969.3 million in remaining subscription bonuses are expected to further strengthen the Company's capital structure upon exercise by mid-2028.

On November 5, 2025, the Company announced the repurchase and cancellation of USD 75.7 million related to the 2031 Bond, accounting for approximately R$402.6 million. Since January 2025, Minerva Foods has repurchased and cancelled a total of USD 384.8 million in external bonds (or approximately R$ 2.3 billion), between the 2028 and 2031 bonds.

About Minerva Foods

Minerva Foods is a global food company that owns the Pul, Estancia 92, and Cabaña Las Lilas brands, internationally known for their excellence in quality and flavor. The company is a leader in beef exports in South America and is present in more than 100 countries.

The company is part of the Minerva S.A. group, which also includes the Minerva Energy, Minerva Biodiesel, Minerva Ingredients, Minerva Casings, Minerva Leather, and MyCarbon.

With a strategic presence in Brazil, Paraguay, Argentina, Uruguay, Colombia, Chile, and Australia, the group has more than 30,000 employees and operates 46 industrial units, 18 international offices, and 23 distribution centers. Serving five continents with beef, lamb, and processed products, Minerva Foods reaffirms its commitment to offering high-quality, value-added food to the global market.

View original content:https://www.prnewswire.com/news-releases/minerva-foods-free-cash-flow-reaches-r2-5-billion-in-the-third-quarter-of-2025--302606332.html

SOURCE Minerva Foods

FAQ

What drove Minerva Foods' free cash flow of R$2.5 billion in 3Q25 (MRVSY)?

Free cash flow of R$2.5 billion in 3Q25 reflected record quarterly operating performance and cash generation tied to higher sales and integration of new assets.

How did MRVSY revenue perform in 3Q25 and over the last 12 months?

Net revenue was R$15.5 billion in 3Q25 (+82.5% YoY); last 12‑month consolidated net revenue totaled R$51.3 billion.

What is Minerva Foods' net leverage after 3Q25 and why does it matter for MRVSY investors?

Net leverage ended the quarter at 2.5x (Net Debt/Adjusted EBITDA), the lowest level since 2022, signaling improved balance‑sheet strength.

How much debt has Minerva repurchased in 2025 and what was the impact?

Since January 2025 the company repurchased and cancelled USD 384.8 million in external bonds (≈R$2.3 billion), reducing outstanding external debt.

What are the subscription bonuses mentioned and how large are they for MRVSY?

Approximately R$969.3 million in remaining subscription bonuses are expected to be exercisable through mid‑2028, which may strengthen capital upon exercise.

What was Minerva Foods' EBITDA and margin in 3Q25?

EBITDA was R$1.4 billion in 3Q25 with an EBITDA margin of 8.9%.