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• Gross Revenue: EUR9 billion in Q3 2024; EUR31.4 billion in the last 12 months.

• EBITDA: BRL813 million in Q3 2024; BRL2.8 billion in the last 12 months.

• EBITDA Margin: 9.6% in Q3 2024; 9.5% in the last 12 months.

• Free Cash Generation: BRL667 million in Q3 2024; BRL1.6 billion in the last 12 months.

• Net Income: BRL94.1 million in Q3 2024.

• Net Leverage: 2.6 times net debt over EBITDA.

• Net Revenue: BRL8.5 billion in Q3 2024; BRL29.5 billion in the last 12 months.

• Capital Structure: Cash position of BRL16.8 billion; debt duration of 4.4 years.

• Investment in New Assets: Total investment of BRL7.2 billion for new industrial units.

• Export Revenue Share: 65% of gross revenue in Q3 2024.

• Slaughter Capacity: 41,789 heads of cattle and 26,000 heads of sheep daily.

• Warning! GuruFocus has detected 5 Warning Signs with MRVSY.

Release Date: November 07, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Minerva SA (MRVSY) reported robust financial results with a gross revenue of EUR9 billion and an EBITDA of BRL813 million, reflecting a strong EBITDA margin of 9.6%.

• The company successfully completed the acquisition of Marfrig South America assets, expanding its operational footprint to 46 industrial units across seven countries.

• Minerva SA (MRVSY) achieved significant free cash generation of BRL667 million in Q3 2024, contributing to a total of BRL1.6 billion over the last 12 months.

• The company continues to lead beef exports from South America with a 20% market share, benefiting from geographic diversification and strong international market access.

• Minerva SA (MRVSY) made strategic investments in renewable energy, acquiring 98% of Ira Peru's shares to produce electricity from clean photovoltaic sources, supporting its decarbonization goals.

Negative Points

• The integration of new assets from Marfrig South America is still in its early stages, with some maintenance below Minerva's standards, potentially impacting short-term operational efficiency.

• Higher cattle prices in Brazil are expected to affect profitability in the short term, posing challenges for maintaining margins.

• The geopolitical and economic situation in Argentina remains volatile, which could impact Minerva's operations and market confidence in the region.

• The company's net leverage remains relatively high at 2.6 times net debt over EBITDA, despite recent reductions.

• There is ongoing uncertainty regarding the approval of asset acquisitions in Uruguay by local antitrust agencies, which could delay full integration and operational benefits.