Petrobras has a net profit of R$26.6 billion in the 3rd quarter, a drop of 42.2% compared to 2022

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The company said that the drop is justified by the high and atypical price of Brent, in 2022, and the devaluation of the real against the dollar. Balance sheet was released by the state-owned company this Thursday (9). Petrobras facade Reproduction Petrobras recorded a net profit of R$26.6 billion in the third quarter, which represents a drop of 42.2% compared to the same period in 2022. The balance was released by the state-owned company this Thursday ( 9). Adjusted EBITDA, which is earnings before interest, taxes, amortization and depreciation, totaled R$66.2 billion between July and September. This represents a decline of 27.6% compared to the same period last year. “Last year’s numbers reflected an atypical scenario of high Brent prices that led to record financial results for oil companies,” the company said. The state-owned company also stated that net profit was impacted by the devaluation of the real against the dollar. Compared to the 2nd quarter of this year, the drop is 7.5%. Regarding Ebitda, compared to the previous quarter, the result points to an increase of 17%, being the sixth best quarterly mark in Petrobras’ history. Still according to the balance sheet, in comparison with the first nine months of 2022, Petrobras suffered less loss of operational and free cash flow, compared to peer companies. While the other companies had an average drop of 28% in operating cash flow, and 43% in free cash flow, Petrobras recorded a drop of 14% and 25%, respectively, in the period. The company also said that it approved the payment of R$17.5 billion in dividends and interest on equity based on the results of the third quarter of this year. Production and investments on the rise The balance also shows that own production of oil, natural gas liquids and natural gas grew, on average, 9% in the third quarter of 2023, compared to the same period of the previous year. Own pre-salt production also broke a new quarterly record, with 2.25 million barrels of oil equivalent per day. Petrobras also said that it made investments totaling US$3.4 billion in the third quarter of 2023. In the first nine months of this year, there are US$9.1 billion in investments, which represents a growth of 31% compared to the same period in 2022. “Petrobras’ operations continue to provide significant returns for society. In the third quarter of the year alone, R$56.5 billion in taxes were paid to the Union and state and municipal entities”, he stated in the balance sheet. Petrobras’ gross debt ended the third quarter at US$61 billion, 5% more than in the second quarter. Still, the company said that the value is at a “healthy level” and within the reference range. VIDEOS: Economy news

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