Comgás net income falls 57.2% in Q4 – $85 million

Comgás, the largest gas distributor in Brazil with 2 million customers, posted a net income of R$367.1 million ($85 million) in Q4 of 2019, which represented a 57.2% drop compared to the same period of 2018 , according to the company’s latest report. The net debt, which was previously R$1.5 billion, more than doubled and reached the level of R$3.5 billion. So far this year, the company made a profit of R$1.3 billion, an increase of 2.1%.

Source: Eu Quero Investir

Banco do Brasil’s net income grows 41% in 2019 to R$18.16 billion

Banco do Brasil recorded a net book income of R$18.16 billion in 2019, this is an increase of 41.2% compared to 2018. In Q4, net income was R$5.69 billion, an increase of 49.7% compared to the same period of 2018 and an increase of 33.8% compared to Q3. Among largest banks, Itaú was the one that registered the greatest benefits in 2019, with earnings of R$26.583 billion, an increase of 6.4% compared to 2018, the highest nominal annual result (not adjusted for inflation) ever recorded by Brazilian banks.

Source: G1 Globo

Petrobras oil production in Brazil grows 16.5% in Q4

Brazil’s Petrobras hit a new production record in Q4 of ca. 2.4 million barrels of oil equivalent per day (boepd), which means an increase of 16.5% on average production of oil and liquefied natural gas (LNG) compared to the same period in 2018. Compared to the third quarter, there was a 5.7% increase. The improvement in performance was largely due to the ramp-up of platforms in the prolific pre-salt formation, says the company’s report.

Source: G1 Globo

BB Seguridade reports 35% rise in Q4 adjusted net income

Brazilian insurance company BB Seguridade SA reported on Monday an almost 35% jump in its Q4 adjusted net income compared with the same period a year ago. Its securities filing says that its quarterly recurring net profit, which excludes one-off items such as proceeds from the sale of its stake in reinsurer IRB Brasil RE, came at 1.133 billion reais ($262.24 million). For 2020, the company expects a growth between 7% to 13% in operating result.

Source: Reuters