Petrobras suspends dividends of $340mn

Petrobras postpones the payment of dividends of R$ 1.7 billion ($ 340 million) for 2019 to December, due to the war against the coronavirus, which caused a drop oil prices and reduced consumption, factors that put pressure on the company’s cash. Petrobras decided to reduce oil production on its platforms located in shallow waters (with higher extraction costs), totalling 100 thousand barrels per day.

Source: Jornal do Brasil

Embraer has a loss of $76mn

Embraer had a net loss of R$ 383.6 million ($ 76 million) in the fourth quarter of 2019, reversing a net profit of R$ 79.7 million ($ 15 million) a year earlier. The adjusted Ebitda fell to R$ 270.7 million ($54 million), from R$ 502.8 million ($100 million) a year earlier. The data show that Embraer reached R$ 8.6 billion in net revenue in the 4th quarter, and the operating result in that period includes the recognition of R$ 294.2 million ($58 million)to impairment in the executive aviation segment.

Source: UOL Economia