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2017-11-15 12:32:00

PETROBRAS NET INCOME R$ 5,031 MLN

PETROBRAS NET INCOME R$ 5,031 MLN

PETROBRAS - Net Income of R$ 5,031 million in 9M-2017, compared to a loss of R$ 17,334 million in 9M-2016, as a result of:

  • higher export revenues, with higher average prices;
  • reduction in margins and sales volumes of oil products in Brazil;
  • lower expenses with personnel and with write-off of dry and/or sub commercial wells;
  • gain on the sale of the Company's interest in Nova Transportadora do Sudeste (NTS) in 2Q-2017;
  • reduction of impairments; and
  • higher expenses with adherence to Brazilian Federal Settlement Programs.
  • Net Income reached R$ 266 million in the 3Q-2017, same level as 2Q-2017.
  • Stable Adjusted EBITDA* of R$ 63,571 million in 9M-2017, reflecting lower operational expenses and increase in exports compensated lower oil products margins. Adjusted EBITDA Margin* was 31% in 9M-2017.
  • In 9M-2017, Free Cash Flow* reached R$ 37,456 million, 26% higher than 9M-2016. This result reflects the combination of improvement in operating activities and reduction in investments. Free Cash Flow* in 3Q-2017 was positive for the tenth quarter in a row.
  • Gross debt decreased 7%, from R$ 385,784 million as of December 31, 2016 to R$ 359,412 million and Net Debt* decreased 11%, from R$ 314,120 million as of December 31, 2016 to R$ 279,237 million as of September 30, 2017.
  • In dollars, the decrease was of 9% (US$ 8,238 million) in Net Debt*, from US$ 96,381 million as of December 31, 2016 to US$ 88,143 million as of September 30, 2017. In addition, the liquidity management led to a weighted average maturity of outstanding debt to increase from 7.46 years as of December 31, 2016 to 8.36 years as of September 30, 2017.
  • Reduction of the ratio between Net Debt* and LTM Adjusted EBITDA*, from 3.54 as of December 31, 2016 to 3.16 as of September 30, 2017. During the same period, Leverage* decreased from 55% to 51%.
  • Petrobras employees as of September 30, 2017 were 62,258, a decrease of 12% compared to September 30, 2016, due to the voluntary separation incentive plan.

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Earlier:

 

 PETROBRAS NET INCOME R$ 4,765 MLN
2017, August, 12, 12:26:00

PETROBRAS NET INCOME R$ 4,765 MLN

PETROBRAS - Net Income of R$ 4,765 million in 1H-2017, compared to a loss of R$ 876 million in 1H-2016

 

 

 PETROBRAS SELLS ASSETS
2016, December, 22, 15:45:00

PETROBRAS SELLS ASSETS

Petroleo Brasileiro SA said on Wednesday it will sell $2.2 billion worth of assets to France's Total SA, including stakes in oilfields and two thermal power stations.

 

 PETROBRAS NET LOSS  R$ 16,458 MLN
2016, November, 12, 12:04:00

PETROBRAS NET LOSS R$ 16,458 MLN

PETROBRAS - Net loss of R$ 16,458 million, compared to net income of R$ 370 million in the 2Q-2016,

 

 PETROBRAS CUTS 25%
2016, September, 21, 18:30:00

PETROBRAS CUTS 25%

Petróleo Brasileiro SA, as Petrobras is formally known, pledged up to $74.1 billion in capital spending for the 2017-2021 period compared with a $98.4 billion target in the prior four-year 2015-2019 plan, according to a securities filing.

 

 PETROBRAS CUTS 11,704 JOBS
2016, September, 5, 18:35:00

PETROBRAS CUTS 11,704 JOBS

In April, the company said it expected up to 12,000 employees to leave as part of the layoff program.

 

 
 

 

 

Tags: PETROBRAS, BRAZIL

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