Minerva foods reports record quartlery earnings
Brazilian packer and tanning group Minerva has reported strong financial results for the fourth quarter of 2024 (4Q24). Free cash flow for the quarter was $172.5 million, bringing the 2024 total to $418.1 million.
EBITDA reached $164.4 million in 4Q24, up 56% year-on-year, with a full-year EBITDA of $540 million. Gross revenue for the quarter was $1.99 billion, a 76% increase from 4Q23, while full-year revenue rose 27% to $6.33 billion. Exports accounted for 58% of 2024 revenue, with the U.S. and China as key markets.
Net revenue for 4Q24 was $1.87 billion, up 74% from the previous year, while full-year net revenue totalled $5.94 billion.
Minerva’s net leverage ratio stood at 3.7x following its acquisition of Marfrig’s South American assets, which added 13 production plants and a distribution centre.
