Cosan's net profit goes back 80% in the fourth quarter of the year 2013

SAO PAULO-the energy and infrastructure group Cosan closed the fourth quarter of 2013 year with net profits of r $ 29.7 million, 80% indentation on the same period last year, which stood at r $ 149 million. Net revenue in the period was $ 8.4 billion, up 46% on the same period last year. The earnings before interest, taxes, depreciation and amortization (Ebitda) recorded 136% increase in the fourth quarter, to $ 915,5 million.
The fourth-quarter result reflects the increase in the financial expenses of the group with the acquisition of the Company, leader in the country in piped gas. This operation was completed at the end of last year. The indebtedness of piped gas company also has had an impact on the results of the last quarter. The performance of Raízen energy (sugar and alcohol production) in the same period contributed to reduce the last line of the balance sheet of the company.
Already in the consolidated balance sheet, Cosan's net revenue was R $ 30,016 billion, an increase of 28% over the previous year. Ebitda closed with elevation of 48%, at r $ 3,142 billion. The adjusted net profit jumped from $ 474,1 million to $ 638,2 million, up 35%. This value considers the exclusion of the formation of the joint venture Shell and Cosan, Raízen.
The group calendar year runs from April to March. Energy and infrastructure company should promote a shift in the timing of disclosure of results this year, adapting to the calendar year, once their sugar and alcohol business, under the umbrella of Raízen energy, has reduced participation in the company's total turnover on account of new business.
Part of the results published by Cosan was in line with prior reports of results of Bradesco Corretora and Itaú BBA, Bank of America Merrill Lynch. By average net revenues would be r $ 8.3 billion in the fourth quarter; net income at $ 83 million, and Ebitda r $ 816 million. The previous consolidated reports predicted net income of r $ 661 million, average net revenues of r $ 29.9 billion and Ebitda of r $ 2,978 billion.