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