MINERVA FOODS POSTS RECORD EBITDA IN THE 2Q22

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Aug 10, 2022, 18:52 ET

Indicator was 43% up year on year

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

In 2Q22, EBITDA totaled R$ 778 million, up by 43% year on year, setting a record for the company. For LTM2T22, EBITDA was R$ 2.8 billion, a growth of 28% year on year, with an EBITDA margin of 9.2%.

The company's consolidated gross revenue totaled R$ 9 billion in 2Q22, up by 34% on 2Q21. In the last 12 months, closed in June 2022 (LTM2T22), the indicator was R$ 32.4 billion.

In 2Q22, exports accounted for 71% of Minerva Foods' gross revenue, once again positioning the company in the lead in beef exports in South America, with a market share in the region of approximately 20%.

The company posted net income in 2Q22 of R$ 424.7 million and R$ 761.9 million for the last twelve months ended in June. Free cash generation in the period was R$ 415.7 million, and in LTM2Q22 the indicator was R$ 523.2 million.

Net leverage in 2Q22, measured by the Net Debt/EBITDA multiple for the last 12 months, has been reduced to 2.3x. The indicator reinforces the company's financial discipline and healthy capital structure.

Minerva Foods continues to generate value for its shareholders and announces the payment of dividends approved today (August 10) of R$ 128 million, or R$ 0.22 per share.

About Minerva Foods

Minerva Foods is a leader in beef exports in South America and also 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, Colombia, and Australia. The company serves five continents with beef, lamb and their derivatives, and currently operates 27 industrial units, 11 international offices, 14 distribution centers, and three processing units.

SOURCE Minerva Foods