The Meat Corporation of Namibia (Meatco) lost about N$757 million in revenue during the 2025/26 financial year.
Meatco says this was after a shortage of cattle reduced the number of animals available for slaughter.
Meatco’s audited financial statements, released on Sunday, show that revenue dropped from N$1.865 billion to N$1.108 billion.
This comes after Meatco reported an operational loss of N$258.1 million two years ago.
In October last year, Meatco reported a net loss of N$67 million for the year ended 31 January 2024, down from N$118 million in the previous financial year, reducing its losses by nearly 50%.
Meatco interim chief executive Albertus Aochamub says the financial results reveal two narratives: while lower cattle numbers led to a decrease in revenue, Meatco successfully enhanced its financial position.
He says Meatco remained profitable despite processing 53% fewer cattle, while increasing its cash reserves, strengthening producers’ equity and reducing its losses.
The number of cattle processed south of the veterinary cordon fence also fell by 53%, from 75 268 to 35 594.
Even though it processed fewer cattle and earned less money, Meatco still made a profit after tax of N$40.5 million.
“Despite processing 53% fewer cattle, Meatco remained profitable, generated positive cash flows, increased available cash, strengthened producers’ equity and continued reducing accumulated losses.
These are clear indicators that the turnaround strategy is producing tangible results and that the corporation is becoming financially stronger,” Aochamub says.
Meatco also generated N$73.5 million in cash from its operations, increased its cash reserves from N$86.2 million to N$128.3 million, increased producers’ equity from N$568.3 million to N$701.3 million, and reduced its accumulated losses by more than N$40 million.
Meatco says these results show that its turnaround plan, better cost control and improved operations helped the company stay profitable during a difficult year.
Meatco deputy chairperson Stephanie de Klerk says the low number of cattle available for slaughter was beyond the company’s control and affected the whole livestock industry.
De Klerk adds that despite the difficult trading conditions, Meatco remained profitable, strengthened its financial position and continued implementing reforms aimed at building a more sustainable business.
The board will present the audited financial results and Meatco’s plans for the future at Meatco’s annual general meeting on Friday.
