International

Minerva Foods reports gross revenue of R$7.8 billion in the second quarter of 2023

Minerva Foods, leader in exports of fresh beef and its derivatives in South America, and which also operates in the processed products segment, presents to the market the financial results referring to the second quarter of 2023 (2Q23).

Posted on Aug 29 ,00:15

Minerva Foods reports gross revenue of R$7.8 billion in the second quarter of 2023

EBITDA in 2Q23 reached R$ 711.2 million, with an EBITDA margin of 9.8%. In the last twelve months to June 2023, EBITDA was R$ 2.7 billion, with an EBITDA margin of 9.2%, not including pro-forma EBITDA from ALC (adjusted for the performance of the acquisition of Australia Lamb Company ).

Free Cash Flow in 2Q23, after Financial Expenses, Capex and Working Capital, totaled R$ 323.3 million in the recurring metric, and R$ 191.3 million after the cash effect of derivatives. In LTM2Q23 ended in June 2023, recurring free cash flow, adjusted by the acquisition of ALC, totaled R$ 929.3 million.

In 2Q23, Net Income was R$ 120.7 million, an increase of 5.9% compared to the previous quarter. Year-to-date net income was R$234.7 million, thus totaling R$350.5 million in the last twelve months ended June 2023.

Consolidated Gross Revenue in 2Q23 reached R$ 7.8 billion, accumulating R$ 30.9 billion in the last twelve months ended in June 2023.

The Company's Net Revenue amounted to R$ 7.3 billion in this 2Q23, and in the last twelve months ended in June 2023, it totaled R$ 28.9 billion.

In the quarter, exports accounted for 65.8% of the Company's Gross Revenue, confirming its leadership in beef exports in South America, with approximately 20% market share.

The net leverage of 2Q23, measured through the Net Debt/EBITDA multiple of the last 12 months, ended the quarter stable at 2.7x, considering the EBITDA adjusted by pro-forma ALC.

Also noteworthy is the payment of supplementary dividends. The Company's Board of Directors approved the distribution of R$ 114 million in the form of interim dividends, totaling R$ 0.19 per share.  Since 2020, the Company has already distributed approximately R$ 1.4 billion in the form of dividends to its shareholders.

 NEWSLETTER - Stay informed with the latest news!

Comments





Similar articles

SPAIN

Spain: The meat sector consolidates its leadership in the agri-food industry

According to the latest available data, the sector reached a total turnover of €41.337 ...


Read more Read more
INTERNATIONAL

Cargill: Consumers are seeking more protein for health and taste in 2025

People are eating more protein than ever before, with 61% of Americans increasing their protein i...


Read more Read more
SPAIN

Pork gains presence on Spanish tables

This growth marks a shift in trends that began the previous year, following a period of slight de...


Read more Read more
Websolutions by Angular Software and SpiderClass