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Minerva Foods (Minerva S.A.) is a key player in the South American market, excelling in the export of fresh beef and its derivatives. Recently, the company completed the acquisition of Marfrig's plants in South America, strengthening its position and expanding its capacity significantly. With a focus on beef and lamb production, Minerva Foods operates across multiple countries, serving international markets with premium quality products. The company's strategic moves, commitment to sustainability, and financial performance solidify its standing as a leader in the global protein industry.
Minerva Foods has completed the acquisition of Marfrig assets in Brazil, Chile, and Argentina, following approval from Brazil's antitrust authority. The transaction includes 13 slaughter and deboning plants for cattle and sheep in Brazil, one cattle plant in Argentina, and a lamb plant in Chile, plus a distribution center. This expansion increases Minerva's daily slaughter capacity to 22,336 head in Brazil and 5,978 head in Argentina. The deal, valued at approximately R$7.5 billion, positions Minerva as the second-largest beef producer in South America and the leading beef supplier to China. Three additional plants in Uruguay are pending regulatory approval.
Minerva Foods (B3: BEEF3 | OTC – Nasdaq International: MRVSY) reported strong financial results for Q2 2024. Consolidated gross revenue reached R$ 8.2 billion, with exports accounting for 61%. The company's EBITDA was R$ 744.6 million, showing an 18.4% increase from the previous quarter, with a 9.7% EBITDA margin. Net revenue rose to R$ 7.7 billion, up 6.7% quarter-on-quarter and 5.4% year-on-year. Minerva Foods also reported a net profit of R$ 95.4 million for the period.
The company's free cash flow for Q2 2024 was R$ 404.1 million, with a notable free cash flow yield of 40% over the last twelve months. Minerva Foods maintained its leadership in South American beef exports with a market share of approximately 20%. The company's net leverage ratio stood at 2.98x at the end of June, adjusted for recent acquisitions and prepayments.
Minerva Foods, the leading South American beef exporter, reported a consolidated gross revenue of BRL 7.7 billion in the first quarter of 2024. The company's EBITDA reached BRL 628.9 million, with a free cash flow of BRL 367 million for the period. Minerva Foods also highlighted its sustainability achievements, including monitoring 100% of its direct supplier farms in Argentina and ranking among the top ten best-rated companies in Brazil for its environmental initiatives.
Minerva Foods reported strong annual results for 2022, with consolidated gross revenue of R$ 32.9 billion, a 15% increase from the previous year. Exports contributed to approximately 70% of total revenue, solidifying its position as a leading beef exporter in South America with a 20% market share. The company achieved an EBITDA of R$ 2.8 billion and a net income of R$ 655 million, both reflecting year-on-year growth. Additionally, adjusted EBITDA reached R$ 3.1 billion. For shareholders, Minerva proposes dividends totaling R$ 336.7 million, maintaining a payout exceeding 50%. Net leverage was reported at 2.15x, the lowest since 2007.
Minerva Foods reported strong results for 3Q22, revealing a record EBITDA of R$ 806.2 million, a 24.4% increase from the previous year, with a margin of 9.6%. The company's net revenue grew to R$ 8.4 billion, up 14.5% year-on-year. Free Cash Flow was positive at R$ 601 million, contributing to an accumulation of over R$ 4.5 billion since 2019. The Net Debt/EBITDA ratio improved to 2.18x, the lowest since 2008, reflecting a solid capital structure. The company also paid dividends of R$ 128.1 million in August.
Minerva Foods (MRVSY) reported a record EBITDA of R$ 778 million for 2Q22, a 43% year-on-year increase. Gross revenue reached R$ 9 billion, up 34% from 2Q21, with exports contributing to 71% of total revenue. The company achieved a net income of R$ 424.7 million and reduced net leverage to 2.3x. For the last twelve months, their EBITDA stood at R$ 2.8 billion, indicating a growth of 28%. A dividend payment of R$ 128 million was approved, equating to R$ 0.22 per share, showcasing the company's commitment to shareholder value.
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