Minerva Foods Brand

Minerva’s financial report reveals EBITDA dip, export decline, and standout growth in Uruguay – key insights in this latest update.

Minerva’s EBITDA Declines 11.5% YoY to R$713.7 Million, but EBITDA Margin Improves to 10.1%

In the latest financial report, EBITDA took a hit, sliding 11.5% year-on-year to R$713.7 million (equivalent to US$144.93 million). However, there’s a silver lining as the EBITDA margin managed to inch up by 0.5 percentage points, reaching 10.1%. Net income followed a similar trend, showing only a modest dip of 0.3%, settling at R$141 million (or US$28.63 million).

Total Slaughter Falls by 4.6% YoY to 938,100 Head, but Sales Volume Rises by 3.3%

The numbers on total slaughter were a bit discouraging, with a 4.6% year-on-year decline, resulting in 938,100 head. On the flip side, the total sales volume managed to buck the trend, posting a 3.3% increase, totaling 333,800 metric tons.

Delving into Minerva’s various business units, Brazil’s gross revenue took a hit, down by a notable 17.3% to R$3.77 billion (or US$765.58 million). Meanwhile, Argentina experienced a more substantial decline of 35.9%, amounting to R$927 million (US$188.3 million). Colombia witnessed a sharp drop of 56.3%, with revenues at R$245.3 million (US$49.83 million), while Paraguay dipped by 28.5%, reaching R$947.7 million (US$192.5 million). Uruguay, however, stood out with a 29.5% increase, totaling R$807 million (US$163.9 million).

Read: Minerva Profits Despite Export Ban

Minerva Australia’s Revenue Slides 6.9%, Other Countries Witness a 20.8% Collective Decrease

Australia didn’t have a comparable figure from the previous financial year, but it did experience a 6.9% decline compared to the previous quarter, settling at R$497.6 million (US$101 million). The other countries collectively saw a 20.8% decrease, with revenues totaling R$372.6 million (US$75.67 million).

Read: Minerva Foods Closes Sheep Abattoir

Notably, exports played a significant role, constituting 64.4% of the company’s gross revenue for the quarter. However, they were not immune to the downturn, posting a 22.1% year-on-year drop to R$4.87 billion (US$988.95 million). On the domestic front, revenue saw a milder decline, down by 1.2% to R$2.69 billion (US$546.26 million).

Read: Minerva purchases Breeders and Packers Uruguay

Minerva Foods

Source: ILM

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