Petrobras had, in the 3rd quarter of 2022, a net profit of US$ 8.8 billion, the 4th highest quarterly net profit in the state-owned company’s history. Operating cash flow generation and free cash flow for the quarter totaled US$12.1 billion and US$10.1 billion, respectively; and Ebitda (adjusted operating income of the company), of US$ 17.4 billion.
The Petrobras Board of Directors approved the payment of remuneration to shareholders (dividends and interest on equity) referring to R$ 3.35 per share, to be paid in two installments, on December 20, 2022 and January 19, 2022. 2023, respectively. The Union, the controlling shareholder, will receive R$ 16 billion.
“These results demonstrate, once again, the high level of performance achieved by Petrobras. With capital discipline, investing in resilient assets and with adequate rates of return, the company has been able to perform in a sustainable manner”, said the company’s president, Caio Mário Paes de Andrade.
Return on capital employed (ROCE) reached 15% in Q3 2022, up from 12.8% in the previous quarter. The company paid, in the period, R$ 73 billion in taxes and government participation at the federal, state and municipal levels.
In the 3rd quarter of 2022, Petrobras’ investments totaled US$ 2.1 billion, while in the first nine months of the year, investments were US$ 7 billion, an increase of 14% compared to the same period in 2021.
Petrobras’ gross debt stood at US$ 54.3 billion, considered by the company as a healthy value for companies in the same segment and size, according to the state-owned company in a note. “The reduction in gross debt was reflected in the decrease in the number of days of operating cash flow needed to pay interest,” the note reads. Currently, in 14 days the company generates enough operating cash flow to pay interest.
