Minerva Foods reports record result in Q2

Published:  15 August, 2022
Credit: Alf Ribeiro/Shutterstock.com

Minerva Foods has reported its financial results for the second quarter of the 2022 financial year.

The company achieved an EBITDA of R$778 million (US$153.39 million), up 43% year-on-year, a record for the company. Gross revenue was R$9 billion (US$1.77 billion) in the second quarter, up 34%.

Exports accounted for 71% of Minerva’s gross revenue during the period, which it reports positions it as the leading beef export company in South America once again, with a market share of around 20%.

Net income for the second quarter of the 2022 fiscal year was R$424.7 million (US$83.73 million) while the company has announced the payment of dividends (approved on August 10) of R$128 million (US$25.24 million) or R$0.22 (US$0.043) per share.