MINERVA FOODS REPORTS CONSOLIDATED GROSS REVENUE OF R$ 6,8 BILLION IN THE FIRST QUARTER OF 2023.

SAO PAULO: Minerva Foods (Minerva S.A. - B3: BEEF3 | OTC - Nasdaq International: MRVSY), a leader in the export of fresh beef and its derivatives in South America, and which also operates in the processed segment, informs its financial results for the first quarter of 2023 (1Q23) to the market.

Consolidated gross revenue in 1Q23 was R$ 6,8 billion, and R$ 32,1 billion in the twelve months to March 31, up by 7% on LTM1Q22 (LTM: Last twelve Months).

EBITDA in 1Q23 was R$ 531,9 million, with an EBITDA margin of 8,3%. In the last twelve months ended March 31, EBITDA was R$ 2,7 billion, with an EBITDA margin of 9%.

In 1Q23, net revenue was R$ 114 million, stable on the last quarter of 2022. It was R$ 654,4 in the twelve months ended March 2023, strong growth of 44,2% on LTM1Q22.

The company's net revenue totaled R$ 6,4 billion in 1Q23, and in the last twelve months ended March 2023 totaled R$ 30,1 billion, up by 6,1% on LTM1Q22.

Exports accounted for 62,6% of the...