MINERVA FOODS POSTS RECORD EBITDA IN THE 2Q22

Rhea-AI Summary

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.

Positive

• Record EBITDA of R$ 778 million in 2Q22, up 43% year on year.
• Gross revenue of R$ 9 billion in 2Q22, a 34% increase from 2Q21.
• 71% of revenue from exports, maintaining a 20% market share in South America.
• Net income of R$ 424.7 million in 2Q22.
• Free cash generation of R$ 415.7 million in 2Q22.
• Reduced net leverage to 2.3x, indicating strong financial health.
• Approved dividend payment of R$ 128 million, or R$ 0.22 per share.

Negative

• None.

Indicator was 43% up year on year

SAO PAULO, Aug. 10, 2022 /PRNewswire/ -- Minerva Foods (Minerva S.A. – B3: BEEF3 | OTC – Nasdaq International: MRVSY), a leader in the export of fresh beef and derivatives in South America, which also operates in the processed segment, presents its financial results for the second quarter of 2022 (2Q22).

In 2Q22, EBITDA totaled R$ 778 million, up by 43% year on year, setting a record for the company.  For LTM2T22, EBITDA was R$ 2.8 billion, a growth of 28% year on year, with an EBITDA margin of 9.2%.

The company's consolidated gross revenue totaled R$ 9 billion in 2Q22, up by 34% on 2Q21. In the last 12 months, closed in June 2022 (LTM2T22), the indicator was R$ 32.4 billion.

In 2Q22, exports accounted for 71% of Minerva Foods' gross revenue, once again positioning the company in the lead in beef exports in South America, with a market share in the region of approximately 20%.

The company posted net income in 2Q22 of R$ 424.7 million and R$ 761.9 million for the last twelve months ended in June. Free cash generation in the period was R$ 415.7 million, and in LTM2Q22 the indicator was R$ 523.2 million.

Net leverage in 2Q22, measured by the Net Debt/EBITDA multiple for the last 12 months, has been reduced to 2.3x. The indicator reinforces the company's financial discipline and healthy capital structure.

Minerva Foods continues to generate value for its shareholders and announces the payment of dividends approved today (August 10) of R$ 128 million, or R$ 0.22 per share.

About Minerva Foods

Minerva Foods is a leader in beef exports in South America and also 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, Colombia, and Australia. The company serves five continents with beef, lamb and their derivatives, and currently operates 27 industrial units, 11 international offices, 14 distribution centers, and three processing units.

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SOURCE Minerva Foods

FAQ

What are Minerva Foods' financial results for 2Q22?

Minerva Foods reported an EBITDA of R$ 778 million and gross revenue of R$ 9 billion for 2Q22.

What is the EBITDA margin for Minerva Foods in LTM2T22?

The EBITDA margin for Minerva Foods in LTM2T22 was 9.2%.

How much net income did Minerva Foods report for 2Q22?

Minerva Foods reported a net income of R$ 424.7 million for 2Q22.

How much of Minerva Foods' revenue comes from exports?

71% of Minerva Foods' gross revenue in 2Q22 came from exports.

What is the dividend payment announced by Minerva Foods?

Minerva Foods announced a dividend payment of R$ 128 million, or R$ 0.22 per share.