Petrobras: We posted a net income of US$10.2 billion in 2019, the first year of the implementation of a new strategy

We posted a net income of US$10.2 billion in 2019, the first year of the implementation of a new strategy

Check out the main highlights of our 2019 performance below.

We had a year of great delivery and results, marked by the implementation of a transformational agenda to become an even better company. Take a look at our performance highlights below.

Highlights of the 2019 result:

  • Adjusted EBITDA was US$ 32.7billion, an increase of 3.8% in relation to 2018, due to lower production costs and lower contingencies.
  • Net income reached US$ 10.2 billion, mainly reflecting gains with asset sales.
  • The adjusted net debt / LTM Adjusted EBITDA ratio increased to 2.41x, applying the effects of IFRS 16, from 2.20x in 2018. Once these effects were eliminated, the index would have been 1.95x.
  • The remuneration to shareholders in the form of dividends and interest on capital was R$ 10.6 billion, equivalent to R$ 0.73 per common andR$ 0.92 per preferred share in circulation.

Highlights of the 4Q19 result:

  • Adjusted  EBITDA  was  US$  8.9  billion,  an  increase  of  8.1%  in  relation  to  3Q19,due  to  lower  production  costs, Brent appreciationand price improvement of our oil and fuel oil in relation to Brent.
  • Net income reached US$ 2.0 billion, mainly reflecting asset impairment.
  • The adjusted net debt / LTM EBITDA ratio increased to 2.41x from 2.40x in 3Q19, applying the effects of IFRS 16. Once these effects were eliminated, the index would have been 1.95x.
  • The board of Directors approved theremuneration to shareholders in the form of dividends in the amount R$ 1.7billionto common shareholders and R$ 2.5 million to preferred shareholders.Check out the main highlights of our 2019 performance below.


For more information, visit our Investor Relations website.