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PBR » Topics » The year-on-year reduction in the first half of 2007 consolidated net income reflected the impact of the appreciation of the Real on export prices and monetary items, as well as the factors listed below:

This excerpt taken from the PBR 6-K filed Aug 21, 2007.

The year-on-year reduction in the first half of 2007 consolidated net income reflected the impact of the appreciation of the Real on export prices and monetary items, as well as the factors listed below:

  • A R$ 255 million reduction in gross profit:
    R$ Million
    Changes 
    2007 X 2006 
Main Items    Net 
Revenues		   Cost of
Goods Sold 		   Gross 
Profit
 
. Domestic Market:       - Effect of Volumes Sold    1.154    (574)   580 
                                     - Effect of Prices    (150)   -    (150)
. Intl. Market:               - Effect of Export Volumes    2.795    (1.293)   1.502 
                                     - Effect of Export Price    (1.587)   -    (1.587)
. Decrease in expenses: (*)   -    (586)   (586)
. Increase / Decrease in Profitability of Distribution Segment    26    131    157 
. Increase / Decrease in operations of commercialization abroad    1.354    (1.285)   69 
. Increase / Decrease in international sales    4.324    (4.310)   14 
. FX effect on controlled companies abroad    (860)   633    (227)
. Other    (199)   172    (27)
       
    6.857    (7.112)   (255)
       

(*) Expenses Composition:    Value 
- domestic Government Take    1.150 
- third-party services    165 
- import of crude oil and oil products and gas**    22 
- transportation: maritime and pipelines ***    (167)
- non-oil products, including alcohol    (183)
- salaries, benefits and charges    (359)
- materials, services and depreciation    (1.214)
   
    (586)
   

** CIF value. 
*** Expenditures with cables, terminals and ducts. 

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