Day: April 27, 2020

Embraer readjusts production after end of $4.2 bn deal

Brazilian aircraft maker Embraer said on Sunday that after the end of the $4.2 billion deal with Boeing announced over the weekend, it is working to adjust its production levels and capital expenditures to save resources. The company added in a statement that it ended 2019 with a “solid cash position” and had “no significant debt for the next two years”.

Road concessions suffer from record drop in traffic in 18.4%

The economic crisis triggered by the coronavirus already has an impact on the road concession sector and will require a review of contracts, according to industry experts. The movement of concessioned roads decreased by an average of 18.4% in March. The flow of passenger vehicles registered the biggest drop: 22.7%. Cargo vehicle traffic decreased 4.1%.

Brazilian soy exports to China fall 24.8% in March

China’s soy imports from Brazil in March fell 24.8% from the same month last year, customs data published on Sunday showed, after rains delayed shipments. China, the largest buyer of soy in the world, imported 2.1 million tons of soy from Brazil in March, compared to 2.79 million tons in the same period last year, data from the General Administration of Customs showed.

Deficit in external accounts totals $15.2 billion in the first quarter

Brazil’s external accounts registered a deficit of $ 15.242 billion in the first quarter of this year, with an increase of 1.32% compared to the same period in 2019. It was the biggest gap for the period since 2015. The current account deficit, one of the main on the country’s external sector, is formed by the trade balance (trade of products between Brazil and other countries), services (acquired by Brazilians abroad) and income (interest remittances, profits and dividends from Brazil abroad).

Hypera has a 26% drop in the 1st quarter profit

Hypera reported on Friday night a drop of almost 26% in net income for the first quarter over the same period last year, to R $ 238.2 million ($ 40 million), in a performance below market expectations. The largest Latin American pharmaceutical company reported earnings before interest, taxes, depreciation and amortization (Ebitda) from continuing operations of R$ 248.7 million ($ 42 million), down 38% in the annual comparison.