Business Market - Minerva Foods | Criando conexões entre pessoas, alimentos e natureza.

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Number of operating units

2-6 FB-MP-000.A SDG 12 SDG 17 SDG 8
2021 2022 2023
Cattle slaughter units 25 25 26
Sheep slaughter units 2 4 4
Protein processing units 3 3 3
Distribution centers 14 14 14
Commercial offices 16 12 16


To overcome adversities, throughout 2023, we have implemented changes in our governance structure and leveraged business management tools alongside our geographic diversification strategy to capitalize on opportunities.
Our investments have focused on expanding company operations, advancing the integration of Australian operations, implementing standardized processes and acquiring a new unit in Uruguay.

Sales amount

GRI 13.22.2 GRI 201-1 SDG 12 SDG 17 SDG 8
2021 2022 2023
Total sales volume (thousand tons) 1,161.00 1,223.70 1,290.03


Financial results

GRI 13.22.2 GRI 201-1 SDG 12 SDG 17 SDG 8
2021 2022 2023
Gross Revenue (BRL million) 28,572.30 32,898.00 28,642.50
Export Market (BRL million) 19,312.10 22,553.60 18,617.10
Domestic Market (BRL million) 9,260.20 10,344.30 10,025.40
Net Revenue (BRL million) 26,965.40 30,977.80 26,891.60
Net Income (BRL million) 598,90 655,1 395.5


The geographical diversification of our operations spanning South America and Australia remains a cornerstone of our strategic framework. Our expansive operational footprint serves as a linchpin for sustaining
profitability and serves as a vital buffer against risks, bolstering the financial robustness of our enterprise. The significance of this issue is further compounded by several factors, with the most notable being the growing restriction in global beef supply. Furthermore, restrictions on North American production contribute to shortages, a scenario that is likely to intensify in the coming years, especially due to the effects of climate change.
In contrast, the beef supply in South America is beneficial for Minerva Foods. In Brazil, for instance, we have observed a consistent trend towards an increased availability of livestock. This consistent growth presents a promising outlook for local producers. Maintaining our leadership position, we continued to dominate exports from South America, with exports contributing to 65% of our consolidated gross revenue. This reaffirms the enduring strength and stability of the international beef market, offering ample opportunities for exporters across South America.
We concluded 2023 with net revenue of R$ 26.9 billion, an adjusted EBITDA of R$ 2.6 billion, and a net result of R$ 395.5 million. The company generated free cash flow of R$ 535.7 million in the year, bringing the total
to approximately R$ 6.5 billion since 2018. This has contributed to maintaining a healthy capital structure. Despite the challenging international market conditions in 2023, the company remained committed to capital
discipline. In the domestic market, we achieved a consolidated revenue of R$ 10 billion this year, representing a sound growth in revenue resulting from our operational performance.
In the Brazil and Latam divisions there were no bans during 2023. In the Australia division, the import license for China was suspended during the Covid outbreak in 2022 and reestablished in 2024. For the Malaysian market, the license was temporarily suspended (SASB FB-MP-250a.4).