Arcos Dorados have prejudice $ 20 mi in Q1

Arcos Dorados, which controls the restaurants of McDonald '' s in Latin America, reported a net loss of $ 20.6 million in the first quarter of this year, compared to a loss of $ 6.6 million in the same period in 2012. In the same comparison the total revenue fell 6.3% to $ 915,5 million.
Adjusted Ebitda (earnings before interest, taxes, depreciation and amortization) was $ 50.3 million, or 26.7% lower compared to the same quarter of the previous year. Organic adjusted Ebitda, which excludes currency conversion and special items was 4.4% lower for the first three months of last year.
The result in the first quarter the company was partly undermined by operations in Venezuela. Excluding the operations in that country, organic revenue grew 11.6% and adjusted Ebitda was a breakthrough of 18.5% in comparison with the same period of the previous year.
In Brazil, revenues fell 18 percent due to the devaluation of the real. Excluding currency movements, organic revenue grew 9.9%. There was a comparable sales growth of 9.1%, driven mainly by promotional activities.
The company reported that the General and administrative expenses decreased by around 90 basis points of revenue compared to the same period last year.
"I am particularly pleased with the operational efficiencies that we have reached, as part of an ongoing review of our structure. Since the end of 2013, decrease costs and improve the efficiency of the entire organization, an action that will continue to be an important area of focus for the company, "said company Chief Executive, Woods Staton.