PETROBRAS NET INCOME $10.2 BLN

PETROBRAS - 20.FEB.2020 - Check out the main highlights of our 2019 performance below.

We had a year of great delivery and results, marked by the implementation of a transformational agenda to become an even better company. Take a look at our performance highlights below.

Highlights of the 2019 result: 

• Adjusted EBITDA was US$ 32.7billion, an increase of 3.8% in relation to 2018, due to lower production costs and lower contingencies.
• Net income reached US$ 10.2 billion, mainly reflecting gains with asset sales.
• The adjusted net debt / LTM Adjusted EBITDA ratio increased to 2.41x, applying the effects of IFRS 16, from 2.20x in 2018. Once these effects were eliminated, the index would have been 1.95x.
• The remuneration to shareholders in the form of dividends and interest on capital was R$ 10.6 billion, equivalent to R$ 0.73 per common andR$ 0.92 per preferred share in circulation. 

Highlights of the 4Q19 result: 

• Adjusted  EBITDA  was  US$  8.9  billion,  an  increase  of  8.1%  in  relation  to  3Q19,due  to  lower  production  costs, Brent appreciationand price improvement of our oil and fuel oil in relation to Brent.
• Net income reached US$ 2.0 billion, mainly reflecting asset impairment.
• The adjusted net debt / LTM EBITDA ratio increased to 2.41x from 2.40x in 3Q19, applying the effects of IFRS 16. Once these effects were eliminated, the index would have been 1.95x.
• The board of Directors approved theremuneration to shareholders in the form of dividends in the amount R$ 1.7billionto common shareholders and R$ 2.5 million to preferred shareholders.Check out the main highlights of our 2019 performance below.

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Earlier: 

2019, October, 21, 13:05:00 PETROBRAS PRODUCTION UP 16.5% Petrobras, which has been was completing the installation of seven new floating production units, produced 2.794 million b/d of oil equivalent in the third quarter from domestic fields. Oil and gas output was up 9.5% from the second quarter. English

2019, August, 26, 15:05:00 PETROBRAS RATING BA2 Moody's Investors Service (Moody's) affirmed the Ba2 corporate family rating of Petroleo Brasileiro S.A. - PETROBRAS (Petrobras). Simultaneously, Moody's raised the company's baseline credit assessment (BCA) to ba2 from ba3. The actions were triggered by the company's continued success in improving its credit metrics and liquidity position. The rating outlook is stable. English

2019, August, 5, 13:10:00 PETROBRAS NET INCOME $1.3 BLN Accounting net income excluding non-recurring factors was US$ 1.3 billion and operating cash flow reached US$ 5.2 billion. Advances in pre-salt exploration, with lower lifting cost (US$ 6/boe) and better quality of oil, allowed adjusted EBITDA per barrel of oil equivalent (boe) in the exploration & production (E&P) business to reach US$ 33.50 in 2Q19 against US$ 29.50 last year, despite the drop in average Brent oil prices from US$ 71.0 to US$ 68.8. English