EARNINGS
PRESENTATION
4th Quarter / 2024
HIGHLIGHTS | ||||
R$ million | 4Q24 | 2024 | ||
Consolidated Net Revenue | 41,302 | +22% | 144,153 | |
33,815 in 4Q23 | +14% | |||
126,475 in 2023 | ||||
Adj. EBITDA | 3,747 | +37% | 13,642 | +59% |
2,734 in 4Q23 | 8,555 in 2023 | |||
Free Cash Flow | 1,598 | +241% | 2,892 | +4,417 |
441 in 4Q23 | -1,525 in 2023 | |||
Net Profit | 2,579 | +2,567 | 2,796 | +4,314 |
12 in 4Q23 | -1,518 in 2023 | |||
Financial Leverage / Adj. EBITDA. | 2.47x | |||
UDM in US$ | ||||
3.87x in 2023 |
OPERATIONS
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N O R T H A M E R I C A O P E R A T I O N
OPERATIONAL AND FINANCIAL PERFORMANCE - 4Q24
SALES VOLUME
(Thousand tons)
+0.8%
496500
88%86%
4Q23 4Q24
Exports Domestic Market
NET REVENUE
(US$ million)
+4.8%
3,053 3,199
100
90%91%
0
4Q23 4Q24
Exports Domestic Market
ADJ EBITDA (US$ million)
- ADJ EBITDA Margin (%)
-0.7 p.p.
2.6%1.9%
-22,2%
79
62
4Q23 4Q24
EBITDA | ADJEBITDA Margin |
Net Revenue
US$ 3.2
billion
ADJ EBITDA
9 %
of the
consolidated
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N O R T H A M E R I C A
MARKET DATA - USA
Cattle Price | Drop Credit | Domestic Price | Spread |
(USDA KS Steer $/cwt)¹ | ($/cwt) | (USDA Comprehensive Cutout $/cwt) | (Cutout Ratio) |
+6.2% | -10.1% | +5.7% | 0.0% | ||||||||
177.8 | 185.9 | 188.8 | 12.53 | 11.45 | 11.26 | 292.1 | 313.7 | 308.8 | 1.64 | 1.68 | 1.64 |
4Q23 | 3Q24 | 4Q24 | 4Q23 | 3Q24 | 4Q24 | 4Q23 | 3Q24 | 4Q24 | 4Q23 | 3Q24 | 4Q24 |
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N O R T H A M E R I C A O P E R A T I O N
OPERATIONAL AND FINANCIAL PERFORMANCE - 2024
SALES VOLUME
(Thousand tons)
+0.1%
1,978 1,981
87%87%
20232024
Exports Domestic Market
NET REVENUE
(US$ million)
+3.5%
11,949 12,372
90%90%
20232024
Exports Domestic Market
ADJ EBITDA (US$ million)
- ADJ EBITDA Margin (%)
-1.7 p.p.
4.1%2.3%
-40,1%
500 | 483 |
400 | |
300 | 289 |
200
100
0
2023 2024
EBITDA | ADJEBITDA Margin |
Net Revenue
US$ 12.4
billion
ADJ EBITDA
11 %
of the
consolidated
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SOUTH AMERICA
CONTINUED MANAGERIAL OPERATIONS
OPERATIONAL AND FINANCIAL PERFORMANCE - 4Q24*
SALES VOLUME* | NET REVENUE* |
(Thousand tons) | (R$ million) |
+25% | +19.0% | ||
241 | |||
193 | 38% | ||
51% | |||
700 | |||
43% | 48% | 600 | ||||||
500 | ||||||||
62% | 400 | |||||||
49% | 300 | |||||||
57% | 52% | 200 | ||||||
100 | ||||||||
0 | ||||||||
4Q23 | 4Q24 | 4Q23 | 4Q24 | |||||
Export | Domestic Market | Export | Domestic Market | |||||
ADJ EBITDA* (R$ million)
- ADJ EBITDA Margin (%)
+0.6 p.p.
12.2%12.8%
+25.1%
660
528
4Q23 4Q24
EBITDA | EBITDA Margin |
Net Revenue
R$ 5.1 billion
ADJ EBITDA*
17%
of consolidated
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*Consolidated Results are managerial and include only the results of the continued assets of the South America Operation in 4Q23 and 4Q24. The figures presented in the ITR do not consider the discontinued operations as of the third quarter of 2023.
S O U T H A M E R I C A C O N T I N U E D M A N A G E R I A L
MAIN EXPORT DESTINATIONS
Main Exports Destinations
Continued
(% of revenue)
15% | 18% |
55% | 4Q23 | 14% | 52% | 4Q24 | 16% |
10% | |||
6% | 12% | ||
2% | |||
18% | |||||
15% | |||||
60% | 2023 | 10% | 46% | 2024 | 14% |
9% | 14% | ||||
6%
8%
Asia (CH & HK) Europe Middle East North America Others
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Consolidated Results are managerial and include only the results of the continued assets of the South America Operation in 4Q23 and 4Q24. The figures presented in the ITR do not consider the discontinued operations as of the third quarter of 2023.
SOUTH AMERICA
CONTINUED MANAGERIAL OPERATIONS
OPERATIONAL AND FINANCIAL PERFORMANCE - 2024*
SALES VOLUME* | NET REVENUE* |
(Thousand tons) | (R$ million) |
+23% | +19.4% | |
815 | 16,097 | |
663 | 39% | 13,480 |
53% | ||
ADJ EBITDA* (R$ million)
- ADJ EBITDA Margin (%)
-0.7 p.p.
11.9%11.2%
+12.3%
Net Revenue
R$ 16 billion
41% | 52% |
59% | 61% | 47% | |
48% | |||
2,000
1,800
1,600
1,400
1,200
1,000
800
600
400
200
0
1,604
1,801
ADJ EBITDA*
13%
of consolidated
2023 | 2024 | 2023 | 2024 | 2023 | 2024 | ||||||
Export | Domestic Market | Export | Domestic Market | EBITDA | EBITDA Margin | ||||||
Consolidated Results are managerial and include only the results of the continued assets of the South America Operation in 4Q23 and 4Q24. The figures presented in the ITR do not consider the discontinued operations as of the third quarter of 2023.
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OUR BRAND IS
BLUE
OUR DREAM IS
GREEN!
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