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Marfrig Global Foods (MBRF3) investor relations material
Marfrig Global Foods Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record consolidated EBITDA of R$ 3.5 billion and net income of R$ 94 million in Q3 2025, with highest sales volumes since 2022 and strong execution of value-creation and efficiency strategies.
Expanded presence in the Middle East through the Sadia Halal joint venture with HPDC and Saudi Arabia’s PIF, reinforcing market diversification and multiprotein portfolio.
Distributed R$ 3.8 billion in dividends and loC, reaffirming commitment to shareholder value.
Completed acquisition of Gelprime, expanding value-added product portfolio and gelatin/collagen operations.
Advanced integration and synergy capture post-merger, with mapped synergies and efficiency programs delivering additional value.
Financial highlights
Q3 2025 net revenue reached R$ 41.8 billion, up 9.2% year-over-year; operating cash flow was R$ 3.3 billion.
Adjusted EBITDA was R$ 3.5 billion with an 8.4% margin; net income was R$ 94 million, down from R$ 248 million in 3Q24.
Free cash flow was R$ 555 million after capex and financial expenses.
Net debt at R$ 41.3 billion, leverage ratio at 3.09x LTM EBITDA.
73% of revenue generated in USD, 25% in BRL; 75% of revenue from international operations.
Outlook and guidance
Management remains focused on sustainable growth, value creation, and consistent shareholder returns, with ongoing synergy and efficiency gains.
Sadia Halal IPO in Riyadh targeted for 2026/2027 to unlock further value in a high-growth protein market.
Interest rate reductions projected to lower debt service by over R$ 500 million in 2026.
Market diversification and new export licenses expected to mitigate risks from export restrictions.
South America beef supply expected to remain robust, with Uruguay positioned for production growth in 2026 and 2027.
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