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PBR » Topics » Consolidated Statement of Results by Business Area

This excerpt taken from the PBR 6-K filed Jun 26, 2006.

Consolidated Statement of Results by Business Area

Result by Business Area R$ million (1) (3)
First Quarter
                 
4Q-2005
      
2006
  
2005
  
D%
                 
 
5,365    EXPLORATION & PRODUCTION    6,774    4,396    54 
1,326    SUPPLY    2,000    1,604    25 
(80)   GAS & ENERGY    (78)   (71)   10 
207    DISTRIBUTION    163    194    (16)
405    INTERNATIONAL (2)   236    534    (56)
(175)   CORPORATE    (1,862)   (1,398)   33 
1,094    ELIMINATIONS AND ADJUSTMENTS    (558)   (238)   134 
         
8,142    CONSOLIDATED NET INCOME    6,675    5,021    33 
         

(1)     
Financial statements by business area and their respective comments are presented starting on page 23.
 
(2)     
In the international business unit, the ability to make comparisons between the periods is influenced by changes in the exchange rate, since all international operations are executed in dollars or in other currencies of those countries where each firm is headquartered. As such there may be significant variations when converting financial results into reais, mainly arising from and reflecting changes in the exchange rate.
 
(3)     
In order to align the financial statement of each business segment with the best practices of companies in the Oil & Gas sector and to improve the understanding of Petrobras management, the Company will now allocate all financial results and items of a financial nature to the corporate level. As a result of this change in methodology, the income tax, employee profit sharing and minority interest line items have been adjusted accordingly.
 
 
To facilitate comparisons, we have presented segmented financial statements for prior periods in accordance with the new criteria.
 
This excerpt taken from the PBR 6-K filed May 16, 2006.

Consolidated Statement of Results by Business Area

Result by Business Area R$ million (1) (3)
First Quarter
                 
4Q-2005
      
2006
  
2005
  
D%
                 
 
5,365    EXPLORATION & PRODUCTION    6,774    4,396    54 
1,326    SUPPLY    2,000    1,604    25 
(80)   GAS & ENERGY    (78)   (71)   10 
207    DISTRIBUTION    163    194    (16)
405    INTERNATIONAL (2)   236    534    (56)
(175)   CORPORATE    (1,862)   (1,398)   33 
1,094    ELIMINATIONS AND ADJUSTMENTS    (558)   (238)   134 
                 
8,142    CONSOLIDATED NET INCOME    6,675    5,021    33 
                 
 
 
(1) Financial statements by business area and their respective comments are presented starting on page 23.
 
(2) In the international business unit, the ability to make comparisons between the periods is influenced by changes in the exchange rate, since all international operations are executed in dollars or in other currencies of those countries where each firm is headquartered. As such there may be significant variations when converting financial results into reais, mainly arising from and reflecting changes in the exchange rate.
 
(3) In order to align the financial statement of each business segment with the best practices of companies in the Oil & Gas sector and to improve the understanding of Petrobras management, the Company will now allocate all financial results and items of a financial nature to the corporate level. As a result of this change in methodology, the income tax, employee profit sharing and minority interest line items have been adjusted accordingly.
 
To facilitate comparisons, we have presented segmented financial statements for prior periods in accordance with the new criteria.

12

This excerpt taken from the PBR 6-K filed Nov 14, 2005.

Consolidated Statement of Results by Business Area

Result by Bussiness Area R$ million (1)
   
Third Quarter 
          
Jan-Sep 
    
2Q-2005 (4)
2005 
2004 
% 
2005 
2004 
% 
 
5.807    7.348    6.101    20    EXPLORATION & PRODUCTION    17.739    13.577    31 
1.941    784    270    190    SUPPLY    4.284    1.715    150 
64
   (42)   (98)  
(57)
   GAS & ENERGY    (148)   (424)  
(65)
123
   205    110    86    DISTRIBUTION (3)   488    356    37 
168
   1    (30)  
(103)
   INTERNATIONAL (2)   520    228    128 
(1.826)   (2.014)   (412)   389    CORPORATE    (5.044)   (2.372)   113 
(1.347)   (650)   (382)   70    ELIMINATIONS AND ADJUSTMENTS    (2.256)   (430)   425 
               
4.930    5.632    5.559    1    CONSOLIDATED NET INCOME    15.583    12.650    23 
               
 
 
(1) Financial statements by business area and their respective comments are presented starting on page 19. 
 
(2) In the International business area, comparability between periods is influenced by the exchange rate variation, due to the fact that all operations abroad are in dollars or in the currency of the country of origin in which each company is headquartered, and there may be significant variations in reais, mainly due to the impacts of exchange rate variations. 
 
(3) In the Distribution business area, comparability between the periods is affected by the business of LIQUIGÁS (Ex- AGIP), acquired by Petrobras Distribuidora - BR on August 9, 2004, and included in the consolidation of the PETROBRAS System as of August 2004. 
 
(4) With the goal of better transparency and comparability, the results by business area of 1Q-2005 and 2Q-2005 are being presented again, considering adjustments arising from better analysis of some processes of business segmentation in the new Company Integrated System, mainly in the Gas & Energy area, as well as consolidation of the Special Purpose Companies, within the context of CVM Instruction 408. 

10

This excerpt taken from the PBR 6-K filed Aug 19, 2005.

Consolidated Statement of Results by Business Area

Result by Bussiness Area         R$ million (1)
    Second Quarter            First Half     
1Q-2005    2005    2004    D%        2005    2004    D% 
                        (3)    
4.584    5.807    4.460    30    EXPLORATION & PRODUCTION    10.391    7.476    39 
1.559    1.941    410    373    SUPPLY    3.500    1.445    142 
(59)   212    (274)   (177)   GAS & ENERGY    153    (326)   (147)
160    123    140    (12)   DISTRIBUTION (3)   283    246    15 
351    168    101    66    INTERNATIONAL (2)   519    258    101 
(1.204)   (1.826)   (940)   94    CORPORATE    (3.030)   (1.960)   55 
(370)   (1.495)   (598)   150    ELIMINATIONS AND ADJUSTMENTS    (1.865)   (48)   3.785 
               
5.021    4.930    3.299    49    CONSOLIDATED NET INCOME    9.951    7.091    40 
               

(1)      The financial statements by business area and their respective comments are presented beginning on page 19.
 
(2)      In the international business area, comparability between the periods is influenced by the exchange rate variation, considering that all operations are performed abroad, in dollars or in the currency of the country in which each company is headquartered, and significant variations in reais may occur, mainly due to the effects of the exchange rate.
 
(3)      In the distribution business, comparability between the periods is influenced by the LIQUIGÁS (Ex-AGIP) business, acquired by Petrobras Distribuidora - BR on August 9, 2004, and included in Petrobras’ consolidated statements as of August 2004.
 

97


This excerpt taken from the PBR 6-K filed Aug 16, 2005.

Consolidated Statement of Results by Business Area

Result by Bussiness Area         R$ million (1)
    Second Quarter            First Half     
1Q-2005    2005    2004    D%        2005    2004    D% 
                        (3)    
4.584    5.807    4.460    30    EXPLORATION & PRODUCTION    10.391    7.476    39 
1.559    1.941    410    373    SUPPLY    3.500    1.445    142 
(59)   212    (274)   (177)   GAS & ENERGY    153    (326)   (147)
160    123    140    (12)   DISTRIBUTION (3)   283    246    15 
351    168    101    66    INTERNATIONAL (2)   519    258    101 
(1.204)   (1.826)   (940)   94    CORPORATE    (3.030)   (1.960)   55 
(370)   (1.495)   (598)   150    ELIMINATIONS AND ADJUSTMENTS    (1.865)   (48)   3.785 
               
5.021    4.930    3.299    49    CONSOLIDATED NET INCOME    9.951    7.091    40 
               

(1)      The financial statements by business area and their respective comments are presented beginning on page 19.
 
(2)      In the international business area, comparability between the periods is influenced by the exchange rate variation, considering that all operations are performed abroad, in dollars or in the currency of the country in which each company is headquartered, and significant variations in reais may occur, mainly due to the effects of the exchange rate.
 
(3)      In the distribution business, comparability between the periods is influenced by the LIQUIGÁS (Ex-AGIP) business, acquired by Petrobras Distribuidora - BR on August 9, 2004, and included in Petrobras’ consolidated statements as of August 2004.
 

9


This excerpt taken from the PBR 6-K filed Mar 11, 2005.

Consolidated Statement of Results by Business Area

Result by Segment Area R$ million (1)
  Fourth Quarter   Fiscal Year
3Q-2004 2004 2003 D %   2004 2003 D %
(4)   (3) (4)       (3) (4)
5,728  4,506  2,727  65  EXPLORATION & PRODUCTION 18,083  14,826  22 
274  838  947  (12) SUPPLY 2,553  5,199  (51)
270  252  (710) 135  GAS & ENERGY 460  (1,259) 137 
109  267  72  271  DISTRIBUTION 623  353  76 
(34) 119  (50) 338  INTERNATIONAL(2) 347  746  (53)
(404) (1,313) (158) 731  CORPORATE (3,677) (1,657) (122)
(455) (103) 193  (153) ELIMINATIONS AND ADJUSTMENTS (528) (413) (28)
   
 
5,488  4,566  3,021    CONSOLIDATED NET INCOME 17,861  17,795 
   
 
(1)

The financial statements by business area and their respective commentaries are presented starting on page 22.

(2)

In the international business area, comparability between the periods is influenced by the variation in the exchange rate, considering that all operations are carried out abroad, in dollars or in the currency of the country in which each company is headquartered, and there may be significant variations in reais due mainly to exchange rate behavior.

(3)

Net Equity relative to 2003 was reclassified between the International segment and the group of Corporate organizations, from being an exchange rate gain or loss in the conversion of company investments abroad, to being treated exclusively as a corporate result as of 2004.

(4)

Net Operating Revenues and the CPV relative to the periods prior to 3Q04 were reclassified between the International segment and the Supply segment relating to offshore operations that were being allocated to the International segment. Considering that the margins obtained in these operations are normally very low, there was not a significant impact on the results reported for these segments.

(5)

In the Distribution business area, comparability between the periods is influenced by the Liquigás (ex-Agip), business, acquired by Petrobras Distribuidora – BR, on August 09, 2004, and included in the consolidation of PETROBRAS System as of 3Q-2004

This excerpt taken from the PBR 6-K filed Feb 28, 2005.

Consolidated Statement of Results by Business Area

Result by Segment Area R$ million (1)
  Fourth Quarter   Fiscal Year
3Q-2004 2004 2003 D %   2004 2003 D %
(4)   (3) (4)       (3) (4)
5,728  4,506  2,727  65  EXPLORATION & PRODUCTION 18,083  14,826  22 
274  838  947  (12) SUPPLY 2,553  5,199  (51)
270  252  (710) 135  GAS & ENERGY 460  (1,259) 137 
109  267  72  271  DISTRIBUTION 623  353  76 
(34) 119  (50) 338  INTERNATIONAL(2) 347  746  (53)
(404) (1,313) (158) 731  CORPORATE (3,677) (1,657) (122)
(455) (103) 193  (153) ELIMINATIONS AND ADJUSTMENTS (528) (413) (28)
   
 
5,488  4,566  3,021    CONSOLIDATED NET INCOME 17,861  17,795 
   
 
(1)

The financial statements by business area and their respective commentaries are presented starting on page 22.

(2)

In the international business area, comparability between the periods is influenced by the variation in the exchange rate, considering that all operations are carried out abroad, in dollars or in the currency of the country in which each company is headquartered, and there may be significant variations in reais due mainly to exchange rate behavior.

(3)

Net Equity relative to 2003 was reclassified between the International segment and the group of Corporate organizations, from being an exchange rate gain or loss in the conversion of company investments abroad, to being treated exclusively as a corporate result as of 2004.

(4)

Net Operating Revenues and the CPV relative to the periods prior to 3Q04 were reclassified between the International segment and the Supply segment relating to offshore operations that were being allocated to the International segment. Considering that the margins obtained in these operations are normally very low, there was not a significant impact on the results reported for these segments.

(5)

In the Distribution business area, comparability between the periods is influenced by the Liquigás (ex-Agip), business, acquired by Petrobras Distribuidora – BR, on August 09, 2004, and included in the consolidation of PETROBRAS System as of 3Q-2004

EXCERPTS ON THIS PAGE:

6-K
Jun 26, 2006
6-K
May 16, 2006
6-K
Nov 14, 2005
6-K
Aug 19, 2005
6-K
Aug 16, 2005
6-K
Mar 11, 2005
6-K
Feb 28, 2005

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