MINERVA FOODS FILES EBITDA OF R$ 962.5 MILLION IN THE FIRST QUARTER OF 2025

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Consolidated gross revenue in the quarter was R$ 11.9 billion, up by 55% year on year

SÃO PAULO, May 7, 2025 /PRNewswire/ -- Minerva Foods (Minerva S.A. – B3: BEEF3 | OTC – Nasdaq International: MRVSY), the leading exporter of fresh beef and its derivatives in South America, and which also operates in the processed products segment, has announced its financial results for the first quarter of 2025 (1Q25) to the market. The following financial and operational information is presented in BRGAAP, in Reais (R$), per International Financial Reporting Standards (IFRS).

EBITDA for the first quarter of 2025 was R$ 962.5 million, a record for a quarter, with an EBITDA margin of 8.6% and growth of 53% compared to the first quarter of 2024 (1Q24). Over the last 12 months, EBITDA was R$ 3.5 billion, with an EBITDA margin of 9.1%. Adjusted EBITDA totaled R$ 4.3 billion, considering the pro forma performance of the new assets over the seven-month period.

Consolidated gross revenue in 1Q25 was R$ 11.9 billion, up 55% from 1Q24 and 4% on the previous quarter, with exports representing 56% of the total. In the last twelve months, gross revenue totaled R$ 40.6 billion, up by 37% on the 12 months ended in the first quarter of 2024, with exports accounting for 57% and reinforcing our leadership in beef exports in South America, with a market share of approximately 21%.

Net revenue totaled R$ 11.2 billion in the first quarter of 2025, a record for a single quarter, up 56% compared to the same period in 2024 and 5% higher quarter over quarter. Over the last twelve months, consolidated net revenue reached R$ 38.1 billion, an increase of 38% year over year. The net result was positive, totaling R$ 185 million in the first quarter of 2025.

Net leverage at the end of March, measured by the Net Debt/Adjusted EBITDA indicator over the last 12 months, ended the quarter stable at 3.7x*.

It should be noted that at an Extraordinary General Meeting on April 29, the Company approved a capital increase of up to R$ 2 billion, or 386.847.196 new shares. The resources from this operation will be entirely allocated to paying down debt and the leverage level of Minerva Foods.

*Adjusted for proforma EBITDA of 13 new assets acquired from Marfrig in South America (7 months): R$ 788 million.

Highlights in Sustainability

For the fifth consecutive year, Minerva Foods was included in the portfolios of the Carbon Efficient Index (ICO2) and the Corporate Sustainability Index, both of B3, the Brazilian Stock Exchange. The company also rose from Tier 4E to Tier 3D, in the Business Benchmark on Farm Animal Welfare (BBFAW), becoming the best company in Latin America in good animal welfare practices in the beef protein segment.

About Minerva Foods

Minerva Foods is the largest beef exporter in South America and 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, and Colombia, and has lamb plants in Australia and Chile, totaling more than 30,000 employees. The company serves five continents with beef, lamb, and their derivatives, and currently operates 46 industrial units, 17 international offices, and 23 distribution centers.

SOURCE Minerva Foods