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Marfrig Global Foods (MRFG3) investor relations material
Marfrig Global Foods Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 consolidated net revenue reached R$37.8 billion, up 8.6% year-over-year, with adjusted EBITDA at R$3.0 billion and an 8% margin; net income rose 13% to R$85 million compared to Q2 2024.
Operating cash flow increased 17% year-over-year to R$3.0 billion, and recurring free cash flow was positive at R$272 million.
The merger between Marfrig and BRF was approved by shareholders, with the new entity MBRF expected to conclude the transaction by September 2025.
Strong focus on operational excellence, cost control, and sustainability, including 100% monitoring of direct suppliers.
Financial highlights
Net revenue reached R$37.8 billion, up from R$34.8 billion in Q2 2024.
Adjusted EBITDA was R$3.0 billion, down 10.8% year-over-year, with a margin of 8%.
Net profit increased to R$85 million from R$75 million in Q2 2024.
Operating cash flow was R$3.0 billion, up from R$2.6 billion in Q2 2024.
Recurring consolidated capex totaled R$1.4 billion in the quarter.
Outlook and guidance
Tight cattle supplies in North America are expected to persist, supporting high beef prices and cutout values in H2 2025.
South America expects continued growth in sales volume and margins, with positive seasonality and efficiency gains anticipated for H2 2025.
The main focus for the merged entity is to capture EUR 800 million in synergies within the first year.
Management expects to capture synergies and create value following the BRF merger.
Strategy remains focused on maximizing value creation, financial integrity, and sustainable operations.
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