GOL has profit of R$580 mi in 4th Qtr

The Gol airline had net profit of 580 million reais in the fourth quarter, advancing on the 62 million recorded in the same period to 2017, amid a strong reduction in negative financial result. The company showed an operating result (Ebit) of 672 million reais, up from 74% in the fourth quarter of 2017, with costs and operating expenses practically stable in the period and net revenue on high 10%. Net financial expense was 17.6 million reais, a 405 million reduction in comparison with the last three months of 2017. The performance was helped by foreign exchange and monetary variations in 246 million reals compared with 230 million loss in the same period of 2017. The company ended 2018 with adjusted net debt of 12.2 billion reais, up 11%. The debt ratio measured by net debt adjusted Ebitdar of 3.8 times before about 4.5 times at the end of 2017.