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PBR » Topics » Petrobras posted consolidated net income of R$ 5,816 million in the 1Q-2009, 20% down on the 1Q-2008.

This excerpt taken from the PBR 6-K filed May 20, 2009.

Petrobras posted consolidated net income of R$ 5,816 million in the 1Q-2009, 20% down on the 1Q-2008.

R$ million
        1st Quarter 
       
4Q-2008        2009    2008    D % 
         
 
65,193    Gross Operating Revenues    53,575    59,094    (9)
52,136    Net Operating Revenues    42,595    46,835    (9)
4,703    Operating Profit (1)   10,220    11,616    (12)
2,405    Financial Result    (849)   (236)   (260)
6,189    Net Income    5,816    7,239    (20)
0.71    Net Income per Share(2)   0.66    0.83    (20)
223,991    Market Value (Parent Company)   285,151    364,372    (22)
28    Gross Margin (%)   39    37    2 
9    Operating Margin (%)   24    25    (1)
12    Net Margin (%)   14    15    (1)
9,204    EBITDA – R$ million(3)   13,423    14,183    (5)
 
    Financial and Economic Indicators             
55    Brent (US$/bbl)   44    97    (55)
2.28    US Dollar Average Price - Sale (R$)   2.32    1.74    33 
2.34    US Dollar Last Price - Sale (R$)   2.32    1.75    32 

(1)  
Operating income before financial result, equity balance and taxes. 
(2)  
For comparative purposes, earnings per share was recalculated for previous periods due to the share split approved by the EGM of March 24, 2008. 
(3)  
Operating income before financial result, equity balance and depreciation/amortization. 

R$ million
        1st Quarter 
           
4Q-2008        2009    2008    D % 
         
 
 
6,002    Operating Income as per Brazilian Corporate Law    9,000    11,400    (21)
(2,405)   (-) Financial Result    849    236    260 
1,106    (-) Equity Income Result    371    (20)   (1,955)
         
4,703    Operating Profit    10,220    11,616    (12)
3,568    Depreciation / Amortization    3,203    2,567    25 
933    Loss on assets recovery    -    -    - 
         
9,204    EBITDA    13,423    14,183    (5)
         
 
         
18    EBITDA Margin (%)   32    30    2 
         

EBITDA is not a measure recognized by the accounting practices adopted in Brazil and other companies may define it in different ways. It should not be considered as an alternative indicator for measuring operating income, or as the best form of measuring liquidity or cash flow from operating activities. EBITDA is an additional measure of the Company’s capacity to amortize debt, maintain investments and cover working capital needs

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PETROBRAS SYSTEM    Financial Performance   
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