Minerva S.A. Sponsored ADR

This represents the highest level recorded by the Company in a single quarter. During the period, leverage declined to 2.5x, its lowest level since 2022

SÃO PAULO,, Nov. 5, 2025 /PRNewswire/ -- Minerva Foods (Minerva S.A – B3: BEEF3 | OTC – Nasdaq International: MRVSY), a global food company and the largest exporter of beef in South America, reports its financial results for the third quarter of 2025 (3Q25). The following financial and operational information is presented in BRGAAP, in Reais (R$), in accordance with IFRS (International Financial Reporting Standards).

In the third quarter of 2025, free cash flow reached an impressive R$ 2.5 billion, the highest level recorded by Minerva Foods in a single quarter. Since 2018, free cash flow has totaled R$ 10.9 billion.

During the period, net leverage at the end of September, measured by the Net Debt/Adjusted EBITDA indicator, ended the quarter at 2.5x, the lowest level since 2022.

Net revenue totaled R$ 15.5 billion in the third quarter of 2025, a record for a single quarter and a strong increase of 82.5% year over year, and 11.5% compared to the previous quarter. In the last 12 months, consolidated net revenue totaled R$ 51.3 billion, up by 73.9% over the same period last year.

EBITDA for the third quarter of 2025 was R$ 1.4 billion, another quarterly record, with an EBITDA margin of 8.9% and up by 70.8% over the same period in the previous year, and 6.6% compared to the second quarter of 2025. Adjusted EBITDA for the past 12 months, including one month of pro-forma results from new assets, totaled R$ 4.7 billion.

Consolidated gross revenue in the period reached R$ 16.3 billion, an increase of 80.1% compared to the same period in 2024 and 10.7% over the previous quarter, with exports accounting for 61% of the total. In the last 12 months, gross revenue totaled R$ 54.4 billion, up 73.1% on an annual basis, with exports reaching 58%.

Net income for the third quarter of 2025 was R$ 120 million, with the year-to-date total net income of R$ 763.3 million.

The integration of new assets reached its final phase and progressed consistently in the third quarter of 2025, delivering solid operational and financial results. Sales volume grew by 10%, while revenue increased by 11% compared to the previous quarter. This performance contributed to higher profitability and a consequent dilution of the expense structure, resulting in the lowest SG&A-to-revenue ratio since the first quarter of 2021, at 9.3%.

In the period, 5.847.096 subscription bonuses arising from the capital increase were exercised, totaling R$ 30.2 million. Approximately R$ 969.3 million in remaining subscription bonuses are expected to further strengthen the Company's capital structure upon exercise by mid-2028.

On November 5, 2025, the Company announced the repurchase and cancellation of USD 75.7 million related to the 2031 Bond, accounting for approximately R$402.6 million. Since January 2025, Minerva Foods has repurchased and cancelled a total of USD 384.8 million in external bonds (or approximately R$ 2.3 billion), between the 2028 and 2031 bonds.

About Minerva Foods

Minerva Foods is a global food company that owns the Pul, Estancia 92, and Cabaña Las Lilas brands, internationally known for their excellence in quality and flavor. The company is a leader in beef exports in South America and is present in more than 100 countries.

The company is part of the Minerva S.A. group, which also includes the Minerva Energy, Minerva Biodiesel, Minerva Ingredients, Minerva Casings, Minerva Leather, and MyCarbon.

With a strategic presence in Brazil, Paraguay, Argentina, Uruguay, Colombia, Chile, and Australia, the group has more than 30,000 employees and operates 46 industrial units, 18 international offices, and 23 distribution centers. Serving five continents with beef, lamb, and processed products, Minerva Foods reaffirms its commitment to offering high-quality, value-added food to the global market.

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Earnings reached their highest historical level for a quarter, up 81.6%, compared to the same period of the previous year (2Q24)

SÃO PAULO, Aug. 6, 2025 /PRNewswire/ -- Minerva Foods (Minerva S.A. – B3: BEEF3 | OTC – Nasdaq International: MRVSY), a global food company and the largest beef exporter in South America, reports its earnings for the second quarter of 2025 (2Q25). The following financial and operating information is presented in BRGAAP, in Brazilian Reais (R$), in accordance with IFRS (International Financial Reporting Standards).

Net revenue totaled R$13.9 billion in the second quarter of 2025, a record level for a quarter, significantly up by 81.6% compared to the same period in 2024 and 24.3% quarter-over-quarter. In the last twelve months, consolidated net revenue totaled R$44.3 billion, up 57.8% compared to the same period in 2024.

The net result was positive, closing the second quarter of 2025 at R$458.3 million, the best quarterly performance in the Company's history.

EBITDA for the period reached R$1,302.5 million, another record for a quarter, with an EBITDA margin of 9.4%, a significant increase of 74.9% compared to the second quarter of 2024 and 35.3% compared to the previous period. In the 12-month period, adjusted EBITDA, considering the pro forma performance of new assets in the four-month period, totaled R$ 4.5 billion.

Consolidated gross revenue for the second quarter of 2025 was R$14.7 billion, up by 80.2% compared to the same period in 2024 and 23.3% compared to the previous quarter, with exports accounting for 60% of the total. In the last 12 months ending in June 2025, gross revenue totaled R$ 47.1 billion, an increase of 57.5% compared to the 12 months of the previous year, with exports reaching 57%.

Net leverage at the end of June, measured by the Net Debt/Adjusted EBITDA ratio, ended the quarter at 3.16x*.

The integration of new assets continues to progress consistently, better than initially planned, with sales volume up by 50% and revenue increasing by 104% compared to the previous quarter, thus benefiting a greater dilution of the expense structure, with sales, general, and administrative expenses (SG&A) accounting for the lowest percentage of revenue since the second quarter of 2022, at 10.1%.

At the end of the second quarter of 2025, the Company completed its private capital increase of R$2 billion, with the possibility of raising up to R$1 billion over the next three years through the monthly exercise of subscription warrants. It is worth noting that, despite the extremely challenging macro scenario, the Company achieved 100% subscription of the rights in this capital increase.

* Adjusted for Pro-forma EBITDA of MSA new assets (4 months): R$ 456 million.

Highlights in Sustainability

Minerva Foods was listed in the Corporate Sustainability Index (ISE B3) and Carbon Efficiency Index (ICO2 B3) portfolios for the fifth consecutive year, recognized for its commitment to best sustainability practices.

Also, for the fifth consecutive year, it earned the "Renewable Energy" Seal for all operations in Brazil, which confirms that all units were supplied with energy from certified renewable sources, ensuring zero GHG emissions under Scope 2.

The company also achieved 100% compliance in another audit cycle by the Federal Public Prosecutor's Office regarding its cattle supply chain in the Amazon biome.

About Minerva Foods

Minerva Foods is the largest beef exporter 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, and Colombia, and has lamb plants in Australia and Chile, totaling more than 30,000 employees. The company serves five continents with beef, lamb, and their derivatives, and currently operates 46 industrial units, 17 international offices, and 23 distribution centers.

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SOURCE Minerva Foods