Minerva had a loss of US$274 million in the last quarter of 2024

Minerva Foods posted a loss of R$1.567 billion (around US$274 million) in the fourth quarter of 2024 (4Q24), compared to a negative net result of R$19.8 million in 4Q23.

Its net financial result stood at R$2.2 billion (US$467 million) in 4Q24, versus a loss of R$462.1 billion in the same quarter of 2023. The 4Q24 net financial result was affected by higher interest expenses during the quarter, particularly due to the non-cash effect of exchange rate variations.

“It is worth emphasizing that, even in a quarter strongly affected by exchange rate fluctuations, our hedging policy was crucial to protect our balance sheet, delivering a positive result of R$930 million in 4Q24,” the company stated in a press release.

Minerva’s net revenue totaled R$10.714 billion, a 73.8% increase compared to the same quarter in 2023. EBITDA grew by 55.8% in the same comparison, reaching R$943.7 million.

In the fourth quarter of 2024, consolidated cattle slaughter volume reached 1.2 million head, up 10% from the same period of the previous year and 8% above 3Q24.

In 2024, the company slaughtered 4.4 million head of cattle, 14% more than in 2023, when it reached 3.9 million.