Minerva’s EBITDA rises 53 % in the quarter

Minerva’s EBITDA (earnings before interest, taxes, depreciation and amortization) reached R$ 962.5 million, up 53.1 % from R$ 628.9 million a year earlier. The EBITDA margin was 8.6 %, versus 8.8 % in Q1 2024.

Net revenue for January–March totaled R$ 11.196 billion, a 55.8 % jump from R$ 7.187 billion in the same period last year. Both revenue and EBITDA were record highs, the company said.

Results benefited from external factors such as recovering Chinese demand and tight supply in the United States. Minerva also highlighted new export approvals in 2024, including four plants authorized to ship to China, bolstering its global reach.

“Minerva Foods ended the quarter with the United States and China accounting for 33 % and 20 % of beef export revenue, respectively—proof of our geographic diversification and our ability to arbitrage the global protein market in pursuit of better margins,” CEO Fernando Queiroz said.

Sales volume rose 19.8 % to 414.6 thousand tons, while cattle slaughter increased 19.8 % to 414.6 thousand head. Total slaughter volume (all species) grew 38.7 % year on year to 1.429 million head.

Net debt climbed from R$ 8.995 billion at the end of Q1 2024 to R$ 15.585 billion a year later. Leverage (net debt/EBITDA) rose from 2.8× to 3.7×.