Home Financial Record MINERVA FOODS POSTS RECORD 2Q22 EBITDA

MINERVA FOODS POSTS RECORD 2Q22 EBITDA

0

The indicator increased by 43% year-on-year

SAO PAULO, August 10, 2022 /PRNewswire/ — Minerva Foods (Minerva SA – B3: BEEF3 | OTC – Nasdaq International: MRVSY), a leader in the export of fresh beef and derivatives in South Americawhich also operates in the processed segment, presents its financial results for the second quarter of 2022 (2Q22).

In 2Q22, EBITDA totaled 778 million reaisup 43% year-on-year, setting a company record. For LTM2Q22, EBITDA was 2.8 billion reaisgrowth of 28% over one year, with an EBITDA margin of 9.2%.

The consolidated gross turnover of the company amounts to 9 billion reais in 2Q22, up 34% compared to 2Q21. In the last 12 month, closed in June 2022 (LTM2T22)the indicator was 32.4 billion reais.

In 2Q22, exports accounted for 71% of Minerva Foods gross sales, once new positioning the leading company in beef exports in South Americawith a market share of around 20%.

The company posted 2Q22 net profit of 424.7 million reais and 761.9 million reais for the last twelve months ended in June. Free cash generation over the period was 415.7 million reaisand in LTM2Q22 the indicator was 523.2 million reais.

Report leverage in 2Q22, measured by the Net Debt/EBITDA multiple for the last 12 months, was reduced to 2.3x. The indicator reinforces the financial discipline and sound capital structure of the company.

Minerva Foods continues to drive shareholder value and announces approved dividend payment today (August 10) of 128 million reaisor R$ 0.22 per share.

About Minerva Foods

Minerva Foods is a leading beef exporter in South America and also operates in the processed segment, selling its products in over 100 countries. In addition to BrazilMinerva Foods is present in Paraguay, Argentina, Uruguay, Colombiaand Australia. The company serves five continents in beef, lamb and their derivatives, and currently operates 27 industrial units, 11 international offices, 14 distribution centers and three processing units.

SOURCE Minerva Foods