Connect with us

Technology

MINERVA FOODS FILES FREE CASH FLOW OF R$ 990 MILLION IN THE FOURTH QUARTER OF 2024

Published

on

In 2024, free cash flow totals R$ 2.4 billion, which means a free cash flow yield (annualized) of approximately 85% p.a. The company has accumulated around R$ 9 billion in free cash generation since 2018.

SAO PAULO, March 19, 2025 /PRNewswire/ — Minerva Foods (Minerva S.A. – B3: BEEF3 | OTC – Nasdaq International: MRVSY), a leader in the export of fresh beef and its derivatives in South America, which also operates in the processed products segment, presents its results for the fourth quarter of 2024 (4Q24) to the market. The financial and operational information is presented in BRGAAP, in Reais (R$), in accordance with International Financial Reporting Standards (IFRS).

The free cash flow for the fourth quarter of 2024, after Financial Expenses, Capex, and Working Capital, was R$ 990 million. In 2024, total free cash flow amounted to R$ 2.4 billion, representing an annualized free cash flow yield of approximately 85% per year.* Since 2018, the Company has accumulated around R$ 9 billion in free cash flow generation.

The EBITDA for the fourth quarter of 2024 was R$ 943.7 million, a record for a single quarter, with an EBITDA margin of 8.8%, up by 56% on the same period of 2023 (4Q23), and 16% on the previous quarter (3Q24). Year-to-date, the EBITDA reached R$3.1 billion, with an EBITDA margin of 9.2%. Adjusted EBITDA, considering the pro forma performance of new assets over 10 months, totaled R$ 4.3 billion.

Consolidated gross revenue for the fourth quarter of 2024 was R$ 11.4 billion, up by 76% on the same period in 2023, and 27% over the previous quarter, with exports accounting for 53% of the total. In 2024, gross revenue totaled R$ 36.3 billion, an increase of 27% over 2023, with exports reaching 58%, reinforcing our leadership in beef exports in South America, with a market share of approximately 20%.

It is worth noting that the United States accounted for 33% and China for 20% of Minerva Foods’s exports from South America in the fourth quarter, reaffirming the benefits of the geographic diversification strategy and the Company’s ability to arbitrate the global animal protein market.

Net revenue totaled R$ 10.7 billion in the fourth quarter of 2024, a record level for a single quarter, up 74% compared to the same period in 2023, and 26% on a quarterly basis. In 2024, consolidated net revenue totaled R$ 34.1 billion, up 27% compared to 2023.

Net leverage at the end of December, measured through the Net Debt/Adjusted EBITDA indicator for the last 12 months, ended the quarter at 3.7x, after the disbursement related to the acquisition of Marfrig’s assets in South America.

At the end of October, the Company completed the acquisition of ten industrial and commercial facilities located in Brazil, Argentina, and Chile, expanding its operational footprint with 13 additional production plants and 1 distribution center. As a result, the Company now operates a total of 46 industrial units, with a daily processing capacity of 41,789 cattle and 25,716 sheep.

At the end of 2024, Minerva Foods completed the buyback of a portion of 2031 Bonds, totaling US$ 69 million, with a coupon of 4.375%. The effective cancellation of these bonds occurred in early 2025.

*Based on the closing price BEEF3 on 03/11/2025.

About Minerva Foods

Minerva Foods is a leader in beef exports in South America and also operates in the processed segment, selling its products to more than 100 countries. In addition to Brazil, Minerva Foods is present in Paraguay, Argentina, Uruguay, and Colombia, and has specialized sheep plants in Australia, totaling more than 40,000 employees. The company serves five continents with beef, lamb, and their derivatives, and currently operates 46 industrial units, 17 international offices, and 23 distribution centers.

View original content:https://www.prnewswire.co.uk/news-releases/minerva-foods-files-free-cash-flow-of-r-990-million-in-the-fourth-quarter-of-2024-302406466.html

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

BRI Holds 2025 Annual General Meeting of Shareholders (AGMS), Distributes IDR 51.73 Trillion in Dividends and Prepares for IDR 3 Trillion Buyback

Published

on

By

JAKARTA, Indonesia, March 29, 2025 /PRNewswire/ — PT Bank Rakyat Indonesia (Persero) Tbk (IDX: BBRI) held its Annual General Meeting of Shareholders (AGMS). At this year’s AGMS, BRI approved the distribution of dividends amounting to IDR 51.73 trillion, an increase compared to the 2024 dividend of IDR 48.10 trillion. In addition, BRI will also carry out a share buyback of up to IDR 3 trillion.

BRI’s 2025 AGMS approved 10 agenda items, with three key topics highlighted by Corporate Secretary Agustya Hendy Bernadi: dividend distribution, share buyback, and management changes.

Use of the Company’s Net Profit (Cash Dividend Distribution)

For the 2024 fiscal year, BRI posted a consolidated net profit of IDR 60.15 trillion, allocating up to IDR 51.73 trillion for cash dividends. An interim dividend of IDR 20.33 trillion (IDR 135 per share) was distributed on January 15, 2025, leaving a remaining payout of up to IDR 31.40 trillion. Of the total, IDR 27.68 trillion will go to the state, with the rest distributed proportionally to shareholders listed on the recording date.

Share Buyback Plan

In addition to the dividend distribution, BRI’s 2025 AGMS also approved the company’s plan to repurchase or buy back shares in an amount of up to IDR 3 trillion. The buyback will be carried out through the Stock Exchange or outside the Stock Exchange.

Changes to the Company’s Management

The 2025 AGMS resolved changes to the company’s management, including the honorable discharge of the following 19 individuals, among them Sunarso as President Director and Catur Budi Harto as Deputy President Director.

Additionally, BRI appointed 16 individuals, including Hery Gunardi as President Director and Hakim Putratama as Director of Operations.

The AGMS also reassigned Agus Noorsanto from Director of Wholesale and Institutional Business to Deputy President Director, and Ahmad Solichin Lutfiyanto from Director of Compliance to Director of Human Capital & Compliance.

In total, BRI’s 2025 AGMS discussed and resolved 10 agenda items. The complete resolutions are available on the BRI website at www.bri.co.id

“The decisions made in this AGMS reflect BRI’s commitment to continuously improve performance and deliver added value to shareholders and other stakeholders,” concluded Hendy.

For more information about BANK BRI, visit www.bri.co.id

View original content to download multimedia:https://www.prnewswire.com/news-releases/bri-holds-2025-annual-general-meeting-of-shareholders-agms-distributes-idr-51-73-trillion-in-dividends-and-prepares-for-idr-3-trillion-buyback-302414890.html

SOURCE PT Bank Rakyat Indonesia Tbk (BRI)

Continue Reading

Technology

Redefining the transistor: The ideal building block for artificial intelligence

Published

on

By

SINGAPORE, March 28, 2025 /PRNewswire/ — The team led by Associate Professor Mario Lanza from the Department of Materials Science and Engineering in the College of Design and Engineering at the National University of Singapore, has just revolutionised the field of neuromorphic computing by inventing a new super-efficient computing cell that can mimic the behaviour of both electronic neurons and synapses. The work, titled “Synaptic and neural behaviours in a standard silicon transistor” was published in the scientific journal Nature on 26 March 2025 and is already attracting interest from leading companies in the semiconductor field.

Electronic neurons and synapses are the two fundamental building blocks of next-generation artificial neural networks. Unlike traditional computers, these systems process and store data in the same place, eliminating the need to waste time and energy transferring data from memory to the processing unit (CPU). The problem is that implementing electronic neurons and synapses with traditional silicon transistors requires interconnecting multiple devices — specifically, at least 18 transistors per neuron and 6 per synapse. This makes them significantly larger and more expensive than a single transistor.

The team led by Professor Lanza has found an ingenious way to reproduce the electronic behaviours characteristic of neurons and synapses in a single conventional silicon transistor. The key lies in setting the resistance of the bulk terminal to a specific value to produce a physical phenomenon called “impact ionisation,” which generates a current spike very similar to what happens when an electronic neuron is activated. Additionally, by setting the bulk resistance to other specific values, the transistor can store charge in the gate oxide, causing the resistance of the transistor to persist over time, mimicking the behaviour of an electronic synapse. Making the transistor operate as a neuron or synapse is as simple as selecting the appropriate resistance for the bulk terminal. The physical phenomenon of “impact ionisation” had traditionally been considered a failure mechanism in silicon transistors, but Professor Lanza’s team has managed to control it and turn it into a highly valuable application for the industry.

This discovery is revolutionary because it allows the size of electronic neurons to be reduced by a factor of 18 and that of synapses by a factor of 6. Considering that each artificial neural network contains millions of electronic neurons and synapses, this could represent a huge leap forward in computing systems capable of processing much more information while consuming far less energy. Furthermore, the team has designed a cell with two transistors — called Neuro-Synaptic Random Access Memory (NSRAM) — that allows switching between operating modes (neuron or synapse), offering great versatility in manufacturing since both functions can be reproduced using a single block, without the need to dope the silicon to achieve specific substrate resistance values.

The transistors used by Professor Lanza’s team to implement these advanced neurons and synapses are not cutting-edge transistors like those manufactured in Taiwan or Korea, but rather traditional 180-nanometer node transistors, which can be produced by Singapore-based companies. According to Professor Lanza, “once the operating mechanism is discovered, it’s now more a matter of microelectronic design”.

The first author of the paper, Dr Sebastián Pazos, who is from King Abdullah University of Science and Technology, commented, “Traditionally, the race for supremacy in semiconductors and artificial intelligence has been a matter of brute force, seeing who could manufacture smaller transistors and bear the production costs that come with it. Our work proposes a radically different approach based on exploiting a computing paradigm using highly efficient electronic neurons and synapses. This discovery is a way to democratise nanoelectronics and enable everyone to contribute to the development of advanced computing systems, even without access to cutting-edge transistor fabrication processes.”

Read more at: https://news.nus.edu.sg/advancing-semiconductor-devices-for-artificial-intelligence.

View original content:https://www.prnewswire.com/news-releases/redefining-the-transistor-the-ideal-building-block-for-artificial-intelligence-302414898.html

SOURCE National University of Singapore

Continue Reading

Technology

JEGI CLARITY Has Advised Ai4 on Their Sale to CloserStill Media

Published

on

By

NEW YORK, March 28, 2025 /PRNewswire/ — Ai4, advised by JEGI CLARITY, has been sold to CloserStill Media.

As the largest AI industry event in the U.S., Ai4 is considered the premier cross-industry conference and exhibition for organizations harnessing AI to drive innovation and transformation. Established in 2018, it serves as a platform for AI/ML experts, IT leadership, business CxOs, and Fortune 500 decision-makers to explore the full AI value chain – from infrastructure to applications.

The acquisition by CloserStill will help Ai4 accelerate growth even further. Ai4 will seamlessly integrate into CloserStill’s well-established business technology portfolio, further strengthening its global influence and market leadership. This strategic move bolsters CloserStill’s presence and reach in the U.S. and marks its first major technology event in the region.

About JEGI CLARITY
JEGI CLARITY is a pre-eminent M&A advisory firm for the media, events, marketing, information and technology industries. With a global reach from New York, London, Boston, and Sydney, we have closed more than 800 transactions during our 35+ year history. For more information, visit www.jegiclarity.com.

Contact: Kelsey Kovachik, Vice President of Marketing
+1 212 754 0710 | kkovachik@jegiclarity-us.com | www.jegiclarity.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/jegi-clarity-has-advised-ai4-on-their-sale-to-closerstill-media-302414835.html

SOURCE JEGI CLARITY

Continue Reading

Trending