EBITDA totaled R$ 1.2 billion in 2Q26, with an EBITDA margin of 8.7%. Over the last 12 months, EBITDA totaled R$ 4.9 billion, up 22.1%, with an EBITDA margin of 8.6%SÃO PAULO, Aug. 12, 2026 /PRNewswire/ -- Minerva S.A.

<p xmlns="http://www.w3.org/1999/xhtml" class="prntac"><i xmlns="http://www.w3.org/1999/xhtml">EBITDA totaled R$ 1.2 billion in 2Q26, with an EBITDA margin of 8.7%. Over the last 12 months, EBITDA totaled R$ 4.9 billion, up 22.1%, with an EBITDA margin of 8.6%</i></p><p xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="legendSpanClass">SÃO PAULO</span>, <span xmlns="http://www.w3.org/1999/xhtml" class="legendSpanClass">Aug. 12, 2026</span> /PRNewswire/ -- Minerva S.A. (BM&amp;FBOVESPA: BEEF3 &#x7C; OTC - Nasdaq International: MRVSY), a South American leader in the export of fresh beef and beef products, with additional operations in the processed foods segment, reports its earnings for the second quarter of 2026. The financial and operational information presented herein is stated in Brazilian Reais (R$) and prepared in accordance with BRGAAP and International Financial Reporting Standards (IFRS).</p>
<p xmlns="http://www.w3.org/1999/xhtml">In 2Q26, Minerva Foods&#39; net revenue totaled R$ 14.1 billion, up 1.3% year over year and 5.2% compared with 1Q26. Over the last 12 months ended June 2026 (LTM 2Q26), consolidated net revenue totaled R$ 57.2 billion, an increase of 29.1% compared with LTM 2Q25.</p><p xmlns="http://www.w3.org/1999/xhtml">Consolidated gross revenue totaled R$ 15.1 billion in 2Q26, with exports accounting for 57% of the total. Over the last 12 months ended June 2026 (LTM 2Q26), total gross revenue reached R$ 609 billion.</p><p xmlns="http://www.w3.org/1999/xhtml">EBITDA totaled R$ 1.2 billion in 2Q26, with an EBITDA margin of 8.7%. Compared with 1Q26, EBITDA increased by 10%, reflecting Minerva Foods&#39; operational resilience and its ability to capitalize on commercial opportunities through its diversified platform.</p><p xmlns="http://www.w3.org/1999/xhtml">Net income totaled R$ 196.9 million in 2Q26, more than doubling from R$ 87.3 million in 1Q26. In 1H26, net income totaled approximately R$ 284.2 million, while over the last 12 months it reached R$ 489.2 million.</p><p xmlns="http://www.w3.org/1999/xhtml">At the end of June 2026, net leverage, measured as Net Debt/LTM Adjusted EBITDA, stood at 2.9x, down from 3.2x in 2Q25. The year-over-year variation of 0.3x reflects the continued strengthening of the Company&#39;s capital structure and its commitment to financial discipline.</p><p xmlns="http://www.w3.org/1999/xhtml">Against a global backdrop of consistent demand for animal protein and differing trade and production dynamics across markets, Minerva Foods&#39; scale and geographic diversification continue to provide the flexibility to combine origins, destinations, and opportunities for greater competitiveness.</p><p xmlns="http://www.w3.org/1999/xhtml">South America continues to strengthen its role in global food security, supported by its production competitiveness and export capacity. In this context, Minerva Foods remains well positioned to meet demand across key consumer markets and to translate its operational scale into greater efficiency, value creation, and returns on capital.</p><p xmlns="http://www.w3.org/1999/xhtml"><b xmlns="http://www.w3.org/1999/xhtml">Bond Issuance</b></p><p xmlns="http://www.w3.org/1999/xhtml">In 1H26, the Company repurchased approximately US$ 66.9 million of its 2031 Bond. Combined with the redemption of the 2028 Bond, totaling US$ 166.0 million, these transactions brought year-to-date repurchases to US$ 232.9 million, equivalent to R$ 1.2 billion. Since the beginning of 2025, the Company has repurchased approximately US$ 617.7 million, or R$ 3.4 billion, of bonds issued in the international market. In addition, the Company repurchased approximately R$ 66.2 million of debt securities in the local market.</p><p xmlns="http://www.w3.org/1999/xhtml">The Company remains focused on opportunities to manage its financial liabilities, seeking a less costly and more efficient capital structure. The recent issuance of US$ 600 million in 2036 Bonds—which was 2.5 times oversubscribed —along with other initiatives in the local capital markets, reinforces this strategy and contributes to extending the Company&#39;s debt maturity profile.</p><p xmlns="http://www.w3.org/1999/xhtml"><b xmlns="http://www.w3.org/1999/xhtml">About Minerva Foods</b></p><p xmlns="http://www.w3.org/1999/xhtml">Minerva Foods is a global food company and the leading exporter of beef in South America. The company owns internationally recognized brands such as Cabaña Las Lilas, Estância 92 and PUL and serves customers in more than 100 countries.</p><p xmlns="http://www.w3.org/1999/xhtml">Minerva Foods is part of Minerva S.A., which also includes Minerva Energy, Minerva Biodiesel, Minerva Ingredients, Minerva Casings, Minerva Leather and MyCarbon.</p><p xmlns="http://www.w3.org/1999/xhtml">With operations in Brazil, Paraguay, Argentina, Uruguay, Colombia, Chile and Australia, the group employs more than 35,000 people and operates 46 industrial facilities, 18 international offices and 23 distribution centers, supplying beef, lamb and processed products to customers across five continents.</p><p xmlns="http://www.w3.org/1999/xhtml"> </p>



<p xmlns="http://www.w3.org/1999/xhtml" id="PURL"><img xmlns="http://www.w3.org/1999/xhtml" title="Cision" width="12" height="12" alt="Cision" src="https://edge.prnewswire.com/c/img/favicon.png?sn=SP25525&amp;sd=2026-08-12"></img> View original content:<a xmlns="http://www.w3.org/1999/xhtml" id="PRNURL" rel="nofollow" href="https://www.prnewswire.com/news-releases/minerva-foods-reports-record-net-revenue-of-r-57-2-billion-for-the-past-12-months-302850203.html" target="_blank">https://www.prnewswire.com/news-releases/minerva-foods-reports-record-net-revenue-of-r-57-2-billion-for-the-past-12-months-302850203.html</a></p><p xmlns="http://www.w3.org/1999/xhtml">SOURCE Minerva Foods</p>

MRVSY

MINERVA FOODS REPORTS RECORD NET REVENUE OF R$ 57,2 BILLION FOR THE PAST 12 MONTHS

Minerva Foods 2Q26 EBITDA rises; leverage improves on bond actions

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>EBITDA totaled R$ 1.2 billion in 2Q26, with an EBITDA margin of 8.7%. Over the last 12 months, EBITDA totaled R$ 4.9 billion, up 22.1%, with an EBITDA margin of 8.6%SÃO PAULO, Aug. 12, 2026 /PRNewswire/ -- Minerva S.A.</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Minerva Foods posted 2Q26 revenue of BRL 14.1b and EBITDA of BRL 1.2b (8.7% margin), with LTM revenue of BRL 57.2b, up 29.1%. Net debt/EBITDA improved to 2.9x by 6/30/26. The company repurchased about US$232.9m of bonds year-to-date and issued US$600m of 2036 bonds to extend maturities, supported by robust export demand.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>2Q26 EBITDA BRL 1.2b; margin 8.7%.</li><li>LTM EBITDA BRL 4.9b; margin 8.6%.</li><li>2Q26 net revenue BRL 14.1b; YoY +1.3%.</li><li>LTM net revenue BRL 57.2b; +29.1% YoY.</li><li>Net debt/EBITDA 2.9x at 6/30/26; down from 3.2x.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Minerva Foods (MRVSY)</strong>: US ADR listing; Q2 results show improving EBITDA/margin and deleveraging.</li><li><strong>Minerva S.A. (BEEF3)</strong>: Brazilian-listed parent; bond repurchases and US$600m 2036 bond issuance reflect capital-structure actions.</li></ul>
  </section>

  <section data-block="category">
    <h3>Earnings</h3>
    <p>Earnings. The release focuses on Q2 2026 results and financing actions, highlighting scale, growth, and leverage dynamics for a cross-listed beef exporter.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Net debt/EBITDA at 2.9x, down from 3.2x a year earlier.</li><li>YTD bond repurchases total US$232.9m; debt-management progress.</li><li>US$600m 2036 bonds oversubscribed, extending debt maturity profile.</li><li>Exports remain 57% of gross revenue, highlighting geographic diversification.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>2Q26 EBITDA BRL 1.2b; EBITDA margin 8.7%.</li><li>2Q26 net revenue BRL 14.1b; QoQ +5.2% vs 1Q26; YoY +1.3%.</li><li>LTM net revenue BRL 57.2b; +29.1% YoY.</li><li>End-Jun 2026 net debt/EBITDA 2.9x; down from 3.2x 2Q25.</li><li>Exports accounted for 57% of 2Q26 gross revenue; gross revenue BRL 15.1b.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Bullish near-term on improved leverage and disciplined capital allocation; potential valuation lift within 6–12 months.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml" class="prntac"><i xmlns="http://www.w3.org/1999/xhtml">EBITDA totaled R$ 1.2 billion in 2Q26, with an EBITDA margin of 8.7%. Over the last 12 months, EBITDA totaled R$ 4.9 billion, up 22.1%, with an EBITDA margin of 8.6%</i></p><p xmlns="http://www.w3.org/1999/xhtml"><span xmlns="http://www.w3.org/1999/xhtml" class="legendSpanClass">SÃO PAULO</span>, <span xmlns="http://www.w3.org/1999/xhtml" class="legendSpanClass">Aug. 12, 2026</span> /PRNewswire/ -- Minerva S.A. (BM&amp;FBOVESPA: BEEF3 &#x7C; OTC - Nasdaq International: MRVSY), a South American leader in the export of fresh beef and beef products, with additional operations in the processed foods segment, reports its earnings for the second quarter of 2026. The financial and operational information presented herein is stated in Brazilian Reais (R$) and prepared in accordance with BRGAAP and International Financial Reporting Standards (IFRS).</p>
<p xmlns="http://www.w3.org/1999/xhtml">In 2Q26, Minerva Foods&#39; net revenue totaled R$ 14.1 billion, up 1.3% year over year and 5.2% compared with 1Q26. Over the last 12 months ended June 2026 (LTM 2Q26), consolidated net revenue totaled R$ 57.2 billion, an increase of 29.1% compared with LTM 2Q25.</p><p xmlns="http://www.w3.org/1999/xhtml">Consolidated gross revenue totaled R$ 15.1 billion in 2Q26, with exports accounting for 57% of the total. Over the last 12 months ended June 2026 (LTM 2Q26), total gross revenue reached R$ 609 billion.</p><p xmlns="http://www.w3.org/1999/xhtml">EBITDA totaled R$ 1.2 billion in 2Q26, with an EBITDA margin of 8.7%. Compared with 1Q26, EBITDA increased by 10%, reflecting Minerva Foods&#39; operational resilience and its ability to capitalize on commercial opportunities through its diversified platform.</p><p xmlns="http://www.w3.org/1999/xhtml">Net income totaled R$ 196.9 million in 2Q26, more than doubling from R$ 87.3 million in 1Q26. In 1H26, net income totaled approximately R$ 284.2 million, while over the last 12 months it reached R$ 489.2 million.</p><p xmlns="http://www.w3.org/1999/xhtml">At the end of June 2026, net leverage, measured as Net Debt/LTM Adjusted EBITDA, stood at 2.9x, down from 3.2x in 2Q25. The year-over-year variation of 0.3x reflects the continued strengthening of the Company&#39;s capital structure and its commitment to financial discipline.</p><p xmlns="http://www.w3.org/1999/xhtml">Against a global backdrop of consistent demand for animal protein and differing trade and production dynamics across markets, Minerva Foods&#39; scale and geographic diversification continue to provide the flexibility to combine origins, destinations, and opportunities for greater competitiveness.</p><p xmlns="http://www.w3.org/1999/xhtml">South America continues to strengthen its role in global food security, supported by its production competitiveness and export capacity. In this context, Minerva Foods remains well positioned to meet demand across key consumer markets and to translate its operational scale into greater efficiency, value creation, and returns on capital.</p><p xmlns="http://www.w3.org/1999/xhtml"><b xmlns="http://www.w3.org/1999/xhtml">Bond Issuance</b></p><p xmlns="http://www.w3.org/1999/xhtml">In 1H26, the Company repurchased approximately US$ 66.9 million of its 2031 Bond. Combined with the redemption of the 2028 Bond, totaling US$ 166.0 million, these transactions brought year-to-date repurchases to US$ 232.9 million, equivalent to R$ 1.2 billion. Since the beginning of 2025, the Company has repurchased approximately US$ 617.7 million, or R$ 3.4 billion, of bonds issued in the international market. In addition, the Company repurchased approximately R$ 66.2 million of debt securities in the local market.</p><p xmlns="http://www.w3.org/1999/xhtml">The Company remains focused on opportunities to manage its financial liabilities, seeking a less costly and more efficient capital structure. The recent issuance of US$ 600 million in 2036 Bonds—which was 2.5 times oversubscribed —along with other initiatives in the local capital markets, reinforces this strategy and contributes to extending the Company&#39;s debt maturity profile.</p><p xmlns="http://www.w3.org/1999/xhtml"><b xmlns="http://www.w3.org/1999/xhtml">About Minerva Foods</b></p><p xmlns="http://www.w3.org/1999/xhtml">Minerva Foods is a global food company and the leading exporter of beef in South America. The company owns internationally recognized brands such as Cabaña Las Lilas, Estância 92 and PUL and serves customers in more than 100 countries.</p><p xmlns="http://www.w3.org/1999/xhtml">Minerva Foods is part of Minerva S.A., which also includes Minerva Energy, Minerva Biodiesel, Minerva Ingredients, Minerva Casings, Minerva Leather and MyCarbon.</p><p xmlns="http://www.w3.org/1999/xhtml">With operations in Brazil, Paraguay, Argentina, Uruguay, Colombia, Chile and Australia, the group employs more than 35,000 people and operates 46 industrial facilities, 18 international offices and 23 distribution centers, supplying beef, lamb and processed products to customers across five continents.</p><p xmlns="http://www.w3.org/1999/xhtml"> </p>



<p xmlns="http://www.w3.org/1999/xhtml" id="PURL"><img xmlns="http://www.w3.org/1999/xhtml" title="Cision" width="12" height="12" alt="Cision" src="https://edge.prnewswire.com/c/img/favicon.png?sn=SP25525&amp;sd=2026-08-12"></img> View original content:<a xmlns="http://www.w3.org/1999/xhtml" id="PRNURL" rel="nofollow" href="https://www.prnewswire.com/news-releases/minerva-foods-reports-record-net-revenue-of-r-57-2-billion-for-the-past-12-months-302850203.html" target="_blank">https://www.prnewswire.com/news-releases/minerva-foods-reports-record-net-revenue-of-r-57-2-billion-for-the-past-12-months-302850203.html</a></p><p xmlns="http://www.w3.org/1999/xhtml">SOURCE Minerva Foods</p>

Minerva Foods posted 2Q26 revenue of BRL 14.1b and EBITDA of BRL 1.2b (8.7% margin), with LTM revenue of BRL 57.2b, up 29.1%. Net debt/EBITDA improved to 2.9x by 6/30/26. The company repurchased about US$232.9m of bonds year-to-date and issued US$600m of 2036 bonds to extend maturities, supported by robust export demand.

News insight

MINERVA FOODS REPORTS RECORD NET REVENUE OF R$ 57,2 BILLION FOR THE PAST 12 MONTHS

AI summary

Sentiment rationale

Key facts

Earnings