Marfrig reports US$571M profit for FY2024
BRAZIL – Marfrig, the second largest Brazilian food processing company, after JBS, has reported its financial results for 2024, posting a net income of US$571 million (2.8 billion reais) and a consolidated adjusted EBITDA of US$2.77 billion (13.6 billion reais).
The company attributes this performance to its strategy of geographic and protein diversification, a focus on high-value-added products, and continuous improvements in operational efficiency.
In sustainability, Marfrig has been recognized as a leader in key global rankings.
It remains the highest-rated company in its sector by the FAIRR Initiative and, for the first time, has received the top grade (A) in all three categories of CDP’s environmental transparency assessment: Climate Change, Water Security, and Forests.
As the company prepares for 2025, it aims to continue expanding globally while maintaining financial discipline and generating value for its shareholders.
Minerva Acquires Marfrig Assets in Brazil
The release of Marfrig’s financial results comes months after Brazil’s antitrust authority, CADE, approved Minerva Foods’ acquisition of some Marfrig’s assets in Brazil.
The deal includes 13 slaughter and deboning plants for cattle and sheep, along with a distribution center.
This transaction was preceded by an agreement announced in August 2024.
With these new assets, Minerva’s processing capacity in Brazil has grown to 22,336 cattle per day across 21 plants.
The company is also incorporating a cattle slaughter and deboning facility in Argentina and a lamb processing plant in Chile as part of the same acquisition.
Minerva’s operations in Argentina will now process 5,978 cattle daily across six plants, while the lamb facility will handle 25,716 sheep per day across five locations in Australia and Chile.
The acquisition strengthens Minerva’s international reach, particularly in markets across North America, Europe, the Middle East, and Asia.
It also solidifies its position as the largest supplier of beef to China, with the highest number of export-approved facilities for that market.
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