Minerva S.A. ( (MRVSY) ) has released its Q3 earnings. Here is a breakdown of the information Minerva S.A. presented to its investors.
Minerva S.A., a leading exporter of fresh beef and cattle byproducts in South America, operates in the processed foods segment and boasts a significant presence in the global market. In its latest earnings report for the third quarter of 2024, Minerva S.A. announced record net revenue of R$8.5 billion and EBITDA of R$813 million, marking the highest figures for any quarter in the company’s history. The company also completed a major acquisition of industrial and commercial assets from Marfrig South America, expanding its operational footprint significantly.
Key financial metrics from the report include a 20% year-on-year increase in net revenue, driven by strong export performance, particularly to the USA and China, which together accounted for 30% of export revenues. The company’s gross revenue for the quarter was R$9.0 billion, a 20% increase from the previous year, with exports making up 60% of this figure. Minerva S.A. also achieved a net income of R$94.1 million for the quarter.
Strategically, Minerva S.A. has made significant strides in its ESG commitments, achieving 100% monitoring of supplier farms in Uruguay and earning an ISO 14001 certification for environmental management at its Barretos unit. The company also launched a renewable energy initiative to supply its Brazilian units with clean energy and expanded its Zero Carbon Impact product line.
Looking ahead, Minerva S.A. remains optimistic about its growth prospects, emphasizing the potential for further integration of newly acquired assets and continued expansion in the global beef market. The company’s strong financial position and strategic focus on sustainability and operational efficiency are expected to bolster its competitive edge in the coming quarters.
