Minerva, ok first quarter: revenue up, number of units slaughtered down (-1.1%)

Minerva’s net revenue in the first quarter of 2019 reach 3.7 billion real (about 808 million euro) and equals a +5.6% growth on yearly base. While Ebtida for the period is equal to 328.8 million real (15% more than the previous year), losses decreased by over 70% (31.4 million). The group’s Brazilian division during the January-March quarter accounted for 44% of total turnover by itself, while exports accounted for 66% of sales: a result which (underlines Minerva), which makes the top South American exporter. The main reference market for the group is Asia, which represents 26% of Minerva’s foreign revenue and has grown by 3 percentage points thanks to Chinese demand. The performance of production volumes can be read in two ways. The group, which has recently completed Athena’s IPO and controls the tanning division Minerva Leather, has slaughtered just less than 846,000 bovines during the quarter, down 1.1% in comparison to the previous period in 2018. During the same period, the quantity of red meat sold was 293,000 tons, equal to double digit growth of 11.7%.

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