MINERVA FOODS REPORTS RECORD NET REVENUE OF R$ 54.8 BILLION IN 2025

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Minerva Foods (OTC: MRVSY) reported record 2025 net revenue of R$ 54.8 billion and gross revenue of R$ 58 billion, up 60.9% and 59.7% year-over-year respectively. Exports accounted for 60% of revenue.

EBITDA reached a record R$ 4.8 billion (8.8% margin), net income was R$ 848.3 million, free cash flow was R$ 1.5 billion, and year-end net leverage stood at 2.6x. Management proposed additional dividends of R$ 30.8 million, bringing total dividends for 2025 to R$ 192.9 million.

Positive

• Net revenue +60.9% YoY to R$ 54.8 billion
• Gross revenue R$ 58 billion, +59.7% YoY
• EBITDA R$ 4.8 billion, record 12-month level
• Free cash flow R$ 1.5 billion in 2025
• Net income record R$ 848.3 million for 2025

Negative

• Net leverage Net Debt/LTM EBITDA at 2.6x year-end
• Q4 net income only R$ 85 million versus full-year R$ 848.3 million

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 For the year, EBITDA totaled R$ 4.8 billion, also a record for the 12-month period, and free cash flow generation reached R$ 1.5 billion.

SÃO PAULO, March 18, 2026 /PRNewswire/ -- Minerva Foods (Minerva S.A. – B3: BEEF3 | OTC – Nasdaq International: MRVSY), a leader in fresh beef exports and its by-products in South America, also operating in the processed foods segment, presents its results for the fourth quarter of 2025 (4Q25). Financial and operating information is reported under BRGAAP, in Brazilian reais (R$), in accordance with IFRS (International Financial Reporting Standards).

In 2025, gross revenue totaled R$ 58 billion, an increase of 59.7% compared to the previous year, with exports accounting for 60% of revenue. Consolidated gross revenue for the fourth quarter of 2025 reached R$ 15.1 billion, up 31.8% compared to the same period in 2024, with exports also representing 60% of the total.

For the year, consolidated net revenue totaled R$ 54.8 billion, a record annual level and an increase of 60.9 % compared to 2024. Annual consolidated revenue reached the upper end of the guidance disclosed for 2025. In the fourth quarter of 2025, net revenue totaled R$ 14.2 billion, growing 32.6% compared to the same period of the previous year.

EBITDA totaled R$ 4.8 billion in 2025, a record for the 12-month period, with a margin of 8.8%. In the fourth quarter of 2025, EBITDA amounted to R$ 1.2 billion, with an EBITDA margin of 8.2%, representing growth of 24.1% compared to 2024.

Net income totaled R$ 848.3 million in 2025, the highest level of profit ever recorded by the Company. In the fourth quarter of 2025, net income amounted to R$ 85 million.

In 2025, free cash flow generation reached R$ 1.5 billion. Since 2020, total free cash flow generation amounts to R$ 8.9 billion.

Reflecting the Company's cash performance throughout 2025, net leverage at the end of December, measured by the Net Debt/LTM EBITDA ratio, closed the year at 2.6x.

Dividends
The Company's management proposes the distribution of additional dividends in the amount of R$ 30.8 million, to be approved at the Annual General Meeting to be held in April. Combined with the early distribution of R$ 162.1 million at the end of 2025, this totals R$ 192.9 million in dividends related to fiscal year 2025 (mandatory minimum dividend), reinforcing Minerva Foods' commitment to shareholder value creation while maintaining financial discipline.

For 2026, the global beef market is expected to remain positive, driven by a significant reduction in supply from key producers such as the United States and Europe, combined with resilient demand even amid higher prices. This balance is expected to support protein price appreciation in the international market, benefiting companies with a global footprint and the ability to diversify across markets.

About Minerva Foods

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

The company is part of Minerva S.A., which also includes the businesses 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 all five continents with beef, lamb, and processed products, Minerva Foods reaffirms its commitment to delivering high-quality, value-added food products to the global market.

View original content:https://www.prnewswire.com/news-releases/minerva-foods-reports-record-net-revenue-of-r-54-8-billion-in-2025--302718135.html

SOURCE Minerva Foods

FAQ

What did Minerva Foods (MRVSY) report for full-year 2025 net revenue?

Minerva Foods reported R$ 54.8 billion in net revenue for 2025, a 60.9% increase year-over-year. According to the company, exports made up 60% of revenue, supporting the record annual result.

How much EBITDA did Minerva Foods (MRVSY) generate in 2025 and what was the margin?

Minerva Foods posted R$ 4.8 billion of EBITDA in 2025 with an 8.8% margin. According to the company, this was a record 12-month EBITDA driven by higher export volumes and prices.

What dividend did Minerva Foods (MRVSY) propose for fiscal year 2025?

Management proposed additional dividends of R$ 30.8 million, totaling R$ 192.9 million for 2025. According to the company, this combines the proposed amount with an earlier R$ 162.1 million distribution.

How much free cash flow did Minerva Foods (MRVSY) generate in 2025?

Free cash flow generation reached R$ 1.5 billion in 2025. According to the company, cumulative free cash flow since 2020 totals R$ 8.9 billion, reflecting sustained cash conversion.

What was Minerva Foods' (MRVSY) net leverage at the end of 2025?

Net Debt/LTM EBITDA closed at 2.6x at year-end 2025. According to the company, this ratio reflects the firm's cash performance and balance between debt and EBITDA.

How did Minerva Foods (MRVSY) perform in Q4 2025 compared to Q4 2024?

Q4 2025 net revenue was R$ 14.2 billion, up 32.6% year-over-year, and Q4 EBITDA was R$ 1.2 billion, up 24.1%. According to the company, exports remained 60% of quarterly revenue.