Page 46 - Minerva Foods | Annual Report 2017

Economic and
FINANCIAL RESULTS
In 2017, Minerva Foods ended the year with a gross revenue of approximately R$13.0 billion, 26.5% higher than in 2016, making it a new all-time record. The Meat division had a gross revenue of R$10.0 billion, 18.6% more than the year prior. This performance is a reflection of the consolidation, which began on August 1, of the new units located in Argentina, Uruguay and Paraguay, along with strong international demand as well as the state of recovery of meat consumption in Brazil, prompting the reopen- ing of the Mirassol D’Oeste (MT) plant.
Domestic market sales increased by 41.3% in annual comparison, reaching R$5.4 billion, while on the foreign market, sales were up by around 18%, totaling R$7.6 billion.
The Others division also saw a record gross rev- enue of R$3 billion, surpassing its 2016 mark by around 62%. Performance in this division is the result of a combination of the resulting increase in distribution of third-party products (go to market strategy), performance tradings and an increase in industrialized products in the oper- ations of Argentina, commencing in the second semester. Below are the Company’s main results:
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