27 February 2023
Minerva Foods, a leader in the export of fresh beef and cattle by-products including rawhides and wet-blue has released its 2022 financial results, reports ILM.
Consolidated gross revenue for the year was R$32.9 billion (US$6.4 billion), up by 15% year on year, with exports reaching approximately 70% of revenue, reinforcing Minerva Foods leadership in beef exports across South America with a market share of approximately 20%. The company is headquartered in Brazil.
EBITDA, in turn, was R$2.8 billion (US$540 million) in 2022, up by 17.6% year on year, with an EBITDA margin of 9.2%. Adjusted EBITDA, covering the performance of the Australian Lamb Company (ALC) acquisition at the end of the year, totalled R$3.1 billion (US$600 million).
Another highlight was net income, which totalled R$655 million (US$127 million) in the year, up by approximately 10% on 2021.
In the past five years, Minerva Foods generated a significant R$5 billion (US$970 million) in free cash flow.
Minerva Foods is a leading beef exporter in South America and 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 plants specialising in lamb in Australia, totalling more than 20,000 employees. The company serves five continents with beef, lamb, and their derivatives, and currently operates 32 industrial units, 12 international offices, and 14 distribution centres.