[]
The Brazilian state oil company Petrobras yesterday reported net losses of 2.6 billion reais (468.7 million dollars) in the second quarter of 2024.
The results were affected in particular by compliance with an agreement to end a tax dispute with the government and the variation in the exchange rate between the dollar and the real during the period, the company said in a statement.
Petrobras had reported net profits of 23.7 billion reais (4.782 billion dollars) in the first quarter, whichperiod of 20 had represented a fall of 34.9%
regarding the same 23.
This is the first assessment of the management of Magda Chambriard, appointed head of Petrobras at the end of May, replacing Jean Paul Prates.
“Operating results were solid and occurred as expected. Non-recurring events, such as the tax agreement with the Treasury…and the significant exchange rate volatility in the period, without any effect on the company’s cash or equity, impacted the company’s internal accounting, also affecting the results of the quarter,” Chambriard stressed, quoted in the press release on the company’s sales data.
AND THE DIVIDENDS…
On the other hand, the council of administration of Petrobras approved the payment of 13.57 billion reais (2.446 billion dollars) in dividends and interest on equity to shareholders for the second quarter, the firm said in a statement.
The sum is equivalent to 1.05 reals (0.19 dollars) per common and preferred share.
The withholding of extraordinary dividends in March, related to 2023 results, frustrated market expectations and sparked controversy. The situation calmed down at the end of April, when authorities and shareholders approved the distribution of half of these resources, some 22 billion reais (around 4.25 billion dollars).
Related
2024-08-14 12:44:03