Petrobras announced today (28) the financial results for the third quarter of 2021 with a net profit of R$ 31.1 billion, 27.3% less than the second quarter of the year, but which reduced the company’s gross debt to US$ 59.6 billion.
With the result, the company reaches, more than a year in advance, the goal of having gross debt of US$ 60 billion, scheduled for the end of 2022. According to the state-owned company, the fulfillment of this goal, shows the “Company’s commitment to technical and balanced management”. Petrobras’ debt reached more than $130 billion in 2014.
The company’s president, Joaquim Silva e Luna, celebrated the result. “We reached our debt target much earlier than planned and we are sharing part of the wealth generated with society and our shareholders through taxes, dividends, job creation and investments.”
Performance
In a statement, the state-owned company explains that the financial result for the third quarter of 2021 had recurring net income of US$ 3.3 billion. Among the highlights are operating cash flow and free cash flow, totaling $10.5 billion and $9 billion, respectively, and recurring adjusted EBITDA of $12.2 billion.
Other highlights of the result are the receipt of US$ 2.9 billion from partners in the Búzios co-participation agreement and the inflow of US$ 2.2 billion in cash from Petrobras Distribuidora’s public offering, carried out in July.
