Profit of BR Distribuidora grows 14.8%, for R $302 million in the 2nd quarter

BR Distribuidora recorded net income of R $302 million in the second quarter, high 14.8% in comparison with the same period of the previous year, the company reported on Wednesday (31). It is the first balance sheet published by the BR after its privatization last week. Petrobras, its former parent company, reduced its participation in the BR to 37.5%, raising R $9.6 billion in the Paulista B3 scholarship. The cash generation measured by the profit before interest, taxes, depreciation and amortization (Ebtida) adjusted rose 6.5% in the annual comparison in the second quarter to R $541 million. "The company's performance in the second quarter of 2019 is mainly marked by the growth in sales volume compared to the first quarter of the year (+ 2.4%), due to the increase in diesel sales and also in the OTTO cycle, even considering the Negative impact of lower volumes traded on aviation and fuel oil products, reflecting the closure of operations/operational constraints on customers, "said BR in a statement. The sales volume, of almost 10 billion liters, recorded a drop of only 0.6% compared to the second quarter of 2018. The fuel sales of the OTTO cycle (petrol and ethanol) in the second quarter increased 1.9%, and of diesel for non-thermal, 2.3%, before the second quarter of 2018. Net revenues increased 1.9% before the same period last year, to just over R $24 billion, said the company, citing also an increase of 4.7% in average prices before the first quarter. Operating expenses in the period, of more than R $1 billion, presented reductions of 11.3% and 4.2% in comparison with the second quarter of 2018 and the first quarter of 2019, respectively. Net debt ended the period at R $4.09 billion, up 27% against the same quarter last year, for the purposes of recognizing the IFRS 16 standard.