MINERVA FOODS FILES EBITDA OF BRL 713,7 MILLION AND NET PROFIT OF BRL 141 MILLION IN 3Q23

Free Cash Flow is up in the third quarter of 2023, at BRL 608,1 million, and BRL 1,2 billion in the last 12 months ending in September.

BARRETOS, Brasil, Nov. 8, 2023 /PRNewswire/ -- Minerva Foods (Minerva S.A – B3: BEEF3 | OTC – Nasdaq International: MRVSY), a leader in the export of fresh beef and its derivatives in South America, and which also operates in the processed beef segment, reports its earnings for the third quarter of 2023. The following financial and operational information is presented in BRGAAP, in Reals (BRL), according to International Financial Reporting Standards.

EBITDA in the third quarter of 2023 totaled BRL 713,1 million and the EBITDA margin was 10,1%. In the last twelve months ending in September, EBITDA was BRL 2,6 billion and the EBITDA margin was 9,3%.

Free Cash Flow in 3Q23, after Financial Expenses, Capex, and Working Capital, was BRL 608,1 million. In the LTM3Q23 (Last twelve months) ended in September, recurring free cash flow, adjusted by the acquisitions of Australia Lamb Company and BPU Meat, totaled BRL 1,2 billion.

Net Profit was BRL 141 million, up by 16,8% on the previous quarter. Year-to-date net profit was BRL 375,7 million.

Net leverage in 3Q23, which is the Net Debt/EBITDA of the last 12 months ended in September, was 2,8x, adjusted by the pro forma EBITDA from the acquisition of ALC and BPU, and also by the amount of BRL 1,5 billion from the initial payment for the acquisition of Marfrig assets in South America.

Moving forward with its ESG agenda, the company has also made progress with its governance structure, through membership at the Ethos Institute and the "Clean Company" program (Business Pact for Integrity and Against Corruption).

About Minerva Foods
Minerva Foods is the leader in beef exports in South America and also operates in the industrialized product 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 sheep plants in Australia, with more than 23,000 employees. The company serves five continents with beef, lamb, and their derivatives and currently operates 33 industrial sites, 12 international offices, and 14 distribution centers.

Press relations: 

Paola Souza
55 11 96995-0110
paola.souza@giusticom.com.br

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SOURCE Minerva Foods