Engie Brasil and the National Bank for Economic and Social Development (BNDES) signed financing contracts for the implementation of the Campo Largo 2 wind farm and the Gralha Azul transmission system. Together, the contracts provide for more than R$ 2.7 billion ($ 490 million) in financing.
The exchange rate flow to Brazil was positive at $ 1.898 billion between May 11th and 15th, data from the Central Bank, which raised the month’s surplus to US $ 2.337 billion. Last week, the commercial account had a surplus of $ 1.943 billion
The health services administrator Hapvida saw a strong increase in revenues in the first quarter, but its profit fell in the annual comparison, with the impact of financial expenses and provisions for reimbursement to SUS. The company announced that it had net income of R$ 164.6 million ($ 30 million) from January to March, down 19.9% in comparison with the same stage of 2019.
Brazilian agribusiness contracted 5.6% in March compared to March 2019, already under quarantine effects due to the coronavirus pandemic, the Getúlio Vargas Foundation (FGV), which elaborates, through its Centre, recently announced. of Agribusiness Studies (GV Agro), the Agroindustrial Production Index (PIMAgro) – Physical Production.
Unidas’ recurring net income ended the quarter with a 3.6% decrease, totalling R$ 79.6 million ($ 14 million). According to the financial result released by the company, in the same quarter of 2019, the amount was R$ 82.5 million ($ 15 million). The company’s net revenue totalled R$ 1.2 billion ($ 218 million) in the first three months of the year and recorded an increase of 17.9%.
BTG Pactual projects a 34% drop in the profit of Brazilian companies in 2020, compared to the previous forecast, released in October, of 20% growth. For 2021, the expectation is for an expansion of 57%. The estimate does not consider Petrobras and Vale.
S&P Global Ratings downgraded Azul Linhas Aéreas’ credit rating on a global scale from “B” to “CCC +”, with a negative rating outlook. S&P believes that Brazilian airlines should face a contraction in demand of around 50% in 2020, causing Azul to maintain about 40% of its fleet on land until the end of the year.
Treasury Secretary Mansueto Almeida said that the contraction of Gross Domestic Product (GDP) this year may be greater than 5%, compared to an official estimate of a 4.7% decline, and stressed that projections worldwide are being revised by account of the coronavirus pandemic.
The Electric Energy Trading Chamber (CCEE) reported that it transferred about R$ 538 million ($ 98 million) from the Energy Development Account (CDE) to electricity distributors, as a way to mitigate the effects of the coronavirus in the sector, which suffers with default and drop in consumption.
Brazil may close the month of May with soybean shipments of 14.7 million tons, according to a weekly survey by (Anec). The expected volume had a slight increase compared to the previous week’s report, which indicated 14 million tons. According to the association, in the month to May 16, the country has already shipped 7.5 million tons of soybeans.
