Marfrig Global Foods more than doubled its operating results in the first quarter, advancing sales of beef to markets beyond China, a country strongly affected by the coronavirus in the period. Adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) reached R$1.2 billion ($ 219 billion) in the period, a jump of 109% in the annual comparison.
The fashion retailer Lojas Renner reported on Monday that it won a lawsuit in the Federal Court linked to the exclusion of ICMS from the PIS and Cofins calculation base. With the final judgment on Monday, the company stated that it had recognized the right to recover amounts determined between November 2001 and February 2017, totalling R$ 1.357 billion ($ 247 million).
Eletronorte raised R$ 1 billion ($ 132 million) from Bradesco BBI to settle debts that the company held with Eletrobras – its parent company – and other creditors. According to a statement released by Eletrobras on Monday, the fundraising took place through a short-term Bank Credit Note, maturing in 12 months and with an interest rate of CDI + 2.62% per year.
The Brazilian trade balance registered a trade surplus of US $ 1.290 billion in the second week of May (from 11 to 17). According to data released recently by the Ministry of Economy’s Foreign Trade Secretariat, the value was reached with exports of US $ 3.818 billion and imports of US $ 2.528 billion.
B3 reported on Monday that the court had refused a request to annul a fine imposed by the IRS, in a lawsuit of about R$ 1.3 billion ($ 237 million). The case refers to the amortisation of the goodwill generated, for tax purposes, by the incorporation of Bovespa by BM&F in 2008 and 2009.