Re: APBR (ord) APBRA (pref) Petrobras Brasil
Publicado: Mar Feb 25, 2014 11:31 am
(BN) Petrobras Seen Posting Record Ebitda as Brazil Curbs Fuel L osses
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Petrobras Seen Posting Record Ebitda as Brazil Curbs Fuel Losses
2014-02-25 03:00:01.2 GMT
By Rodrigo Orihuela
Feb. 25 (Bloomberg) -- Petroleo Brasileiro SA is forecast to report record-high quarterly earnings after the Brazilian government granted a fuel price increase that reduced the state- run producer’s refining losses.
Petrobras, as the Rio de Janeiro-based company is known, probably had earnings before interest, taxes, depreciation and amortization of 19.5 billion reais ($8.3 billion) in the three months through December, according to the average estimate of six analysts tracked by Bloomberg. The producer is scheduled to report earnings after the close of trading today.
The company is poised to post the highest quarterly Ebitda in the nine years since Bloomberg records begin after Brazil agreed to increase subsidized gasoline and diesel prices, reducing Petrobras’s losses on higher priced imported fuels.
Chief Executive Officer Maria das Gracas Foster is seeking to close a fuel price gap that reduced third-quarter profit by the most among major producers.
“The price adjustments were quite important to minimize the effects of losses from Petrobras’s imports,” said Lucas Brendler, an analyst at Geracao Futuro Corretora in Porto Alegre, Brazil. “When you have an increase in gasoline prices here you reduce your gap” with global prices, he said by phone.
Price increases of 4 percent for gasoline and 8 percent for diesel that took effect Nov. 30 were the first in nine months.
The fourth-quarter gap between international and domestic prices was 11 percent for gasoline and 19 percent for diesel, according to Deutsche Bank SA estimates.
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Petrobras Seen Posting Record Ebitda as Brazil Curbs Fuel Losses
2014-02-25 03:00:01.2 GMT
By Rodrigo Orihuela
Feb. 25 (Bloomberg) -- Petroleo Brasileiro SA is forecast to report record-high quarterly earnings after the Brazilian government granted a fuel price increase that reduced the state- run producer’s refining losses.
Petrobras, as the Rio de Janeiro-based company is known, probably had earnings before interest, taxes, depreciation and amortization of 19.5 billion reais ($8.3 billion) in the three months through December, according to the average estimate of six analysts tracked by Bloomberg. The producer is scheduled to report earnings after the close of trading today.
The company is poised to post the highest quarterly Ebitda in the nine years since Bloomberg records begin after Brazil agreed to increase subsidized gasoline and diesel prices, reducing Petrobras’s losses on higher priced imported fuels.
Chief Executive Officer Maria das Gracas Foster is seeking to close a fuel price gap that reduced third-quarter profit by the most among major producers.
“The price adjustments were quite important to minimize the effects of losses from Petrobras’s imports,” said Lucas Brendler, an analyst at Geracao Futuro Corretora in Porto Alegre, Brazil. “When you have an increase in gasoline prices here you reduce your gap” with global prices, he said by phone.
Price increases of 4 percent for gasoline and 8 percent for diesel that took effect Nov. 30 were the first in nine months.
The fourth-quarter gap between international and domestic prices was 11 percent for gasoline and 19 percent for diesel, according to Deutsche Bank SA estimates.