Minerva Income Statement

Financials in millions BRL. Fiscal year is January - December.

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	54,830	34,069	26,892	30,978	26,965
Revenue Growth (YoY)	60.94%	26.69%	-13.19%	14.88%	38.95%
Cost of Revenue	45,317	27,066	21,378	25,240	22,320
Gross Profit	9,513	7,003	5,514	5,737	4,645
Selling, General & Admin	5,763	4,637	3,484	3,360	2,624
Other Operating Expenses	-100.96	-101.06	-35.97	-116.85	-19.5
Operating Expenses	5,662	4,536	3,448	3,243	2,605
Operating Income	3,850	2,467	2,066	2,494	2,040
Interest Expense	-3,188	-3,038	-1,631	-1,221	-1,014
Interest & Investment Income	670.56	968.84	386.96	185.17	75.02
Currency Exchange Gain (Loss)	-100.82	-2,983	-79.35	2.09	-405.29
Other Non Operating Income (Expenses)	-531.77	1,119	-385.44	-1,001	-105.64
EBT Excluding Unusual Items	700.28	-1,466	356.71	459.35	590.56
Gain (Loss) on Sale of Assets	-	-5.65	-15.56	-71.24	-4.96
Asset Writedown	-2.02	-33.63	-	-	-
Pretax Income	698.26	-1,505	341.15	388.11	585.61
Income Tax Expense	-150	58.84	-54.38	-266.96	-13.27
Earnings From Continuing Operations	848.26	-1,564	395.53	655.06	598.88
Minority Interest in Earnings	-37.77	5.09	25.52	-2.53	-
Net Income	810.49	-1,559	421.05	652.53	598.88
Net Income to Common	810.49	-1,559	421.05	652.53	598.88
Net Income Growth	-	-	-35.47%	8.96%	-14.09%
Shares Outstanding (Basic)	986	588	587	584	584
Shares Outstanding (Diluted)	986	588	587	584	584
Shares Change (YoY)	67.53%	0.26%	0.44%	0.10%	11.09%
EPS (Basic)	0.82	-2.65	0.72	1.12	1.03
EPS (Diluted)	0.82	-2.65	0.72	1.12	1.03
EPS Growth	-	-	-35.68%	8.72%	-22.67%
Free Cash Flow	3,616	5,839	2,004	2,371	2,127
Free Cash Flow Per Share	3.67	9.93	3.42	4.06	3.64
Dividend Per Share	-	-	-	0.576	0.689
Dividend Growth	-	-	-	-16.40%	-32.85%
Gross Margin	17.35%	20.56%	20.50%	18.52%	17.23%
Operating Margin	7.02%	7.24%	7.68%	8.05%	7.57%
Profit Margin	1.48%	-4.58%	1.57%	2.11%	2.22%
Free Cash Flow Margin	6.59%	17.14%	7.45%	7.65%	7.89%
EBITDA	4,825	3,097	2,568	2,897	2,375
EBITDA Margin	8.80%	9.09%	9.55%	9.35%	8.81%
D&A For EBITDA	974.42	629.74	502.56	402.82	334.78
EBIT	3,850	2,467	2,066	2,494	2,040
EBIT Margin	7.02%	7.24%	7.68%	8.05%	7.57%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.