Dear Mr/Mrs Ramin Farzanehfar,
Rio de Janeiro, February 9th, 2012 – Petróleo Brasileiro S.A.
- Petrobras discloses its consolidated results for the fourth quarter and for the 2011 fiscal year, according to international financial reporting standards (IFRS).
The Company’s net income in 2011 was R$ 33.3 billion (R$ 2.55 per share) 5% lower than its 2010 net income of R$ 35.2 billion (R$ 3.57 per share).
Gross profit was R$ 77.2 billion in 2011, 1% higher than its 2010 gross profit of (R$ 76.2 billion).
Despite higher domestic sales of 6% as compared to 2010, notably higher sales of diesel oil (+9%), gasoline (+24%) and Jet Fuel (+12%), higher operating expenses and higher purchase costs of oil and imports of oil products, contributed for the lower figures.
In the segmented result, higher oil prices and output in 2011 affected the result of the Exploration & Production (E&P) segment.
However, the Supply segment was negatively affected because of higher oil prices.
Net Income per segment (R$ million) 1
|
Segments(1)
|
2011
|
2010
|
|
Exploration & Production
|
40,594
|
29,691
|
|
Supply
|
(9,955)
|
3,729
|
|
Other Segments(2)
|
6,076
|
3,746
|
(1) Includes intersegment transactions that are eliminated for calculating the Company’s profit
(2) Excluding Corporate Segment
Investments in 2011 totaled R$ 73 billion, of which most went to the E&P (47%) and Supply (37%) segments.
Cash flow from operating activities continued to be the main source of financing of investments and reached R$ 56 billion for the year.
Furthermore, the Company announces that its 2012 Annual Business Plan of R$ 87,545 million was approved.
The table below shows planned investment amounts per segment.
2012Annual Business Plan
|
Segments
|
Investments
R$ Million
|
%
|
|
Exploration & Production
|
41,838
|
47,8%
|
|
Supply
|
33,010
|
38%
|
|
Gas & Energy
|
4,400
|
5,0%
|
|
International
|
4,161
|
4,8%
|
|
Distribution
|
1,361
|
1,6%
|
|
Biofuels
|
1,339
|
1,5%
|
|
Corporate
|
1,436
|
1,6%
|
|
TOTAL
|
87,545
|
100%
|
Sincerely,
Investor Relations.
To be removed from this E-mail Alert service, please send a reply with the subject: Unsubscribe.
www.petrobras.com.br/ri/english
Contacts: PETRÓLEO BRASILEIRO S.
A.
- PETROBRAS
Investor Relations Department I E-mail: /
Av.
República do Chile, 65 – 10th floor - 20031-912 - Rio de Janeiro, RJ I Tel.: 55 (21) 3224-1510 / 9947
This document may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (Exchange Act) that merely reflect the expectations of the Company’s management.
Such terms as
“anticipate”, “believe”, “expect”, “forecast”, “intend”, “plan”, “project”, “seek”, “should”, along with similar or analogous expressions, are used to identify such forward-looking statements.
These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company.
Therefore, the future results of operations may differ from current expectations, and readers
must not base their expectations exclusively on the information presented herein.
|
