Direction passes to the blue in the 2nd tri, with improvement of the financial result

SÃO PAULO (Reuters)-The integrated infrastructure company Rumo went from injury to profit in the second quarter, period marked by high and low operational, with the financial line guaranteeing the improvement of the balance sheet. The company, which has the Cosan group as its main shareholder, announced on Monday a net profit of 185 million reais from April to June, after having had a loss of 38 million reais in the same period of 2018. The operating result of Rumo was much weaker , reaching 924 million reais, high 1.9% year by year, by the criterion of EBITDA (earnings before interest, taxes, depreciation and amortization, in the English acronym). The EBITDA margin fell 1 percentage point, to 53.5%. The volume transported by the railway structure was 14.4 billion tonnes equivalent (TKU), 7.1% higher. On the one hand, the movement was benefited by the anticipation of the corn crop. On the other hand, the delay in the soy shipments caused by the fall in the price of the product in the international market. " With lower price levels for soybeans, the Brazilian producer chose not to export, awaiting the price recovery. According to projections, Brazil should export 14 million tons less than in 2018, "said Rumo in the report. "On the other hand, the scenery for maize is favorable, due to a national record harvest, added to the expectation of breaking the American harvest." What made a difference at the end of the accounts was the financial result, negative in 259 million, amount 48.2% lower than the equal step of 2018. The company explained that the cost of its bank debt had a significant reduction, reflecting lower interest payment, in addition to the reduction of gross debt and the average cost of debt.