Minerva profit down 49.5% in the fourth quarter, to R$ 15.1 million
Minerva ended the fourth quarter of last year with a net profit of R$ 15.1 million, 49.5% down on the R$ 29.9 million it earned in the same period last year. Once again, the company's results were affected by the financial side.
During the period, operating profit measured by Ebitda (earnings before interest, taxes, depreciation and amortization) was R$ 116.4 million, up 36.5% on the same quarter in 2010. In the same period, the Ebitda margin increased from 9.8% to 10.7%. The company reduced its leverage ratio to 3.65 times (net debt versus Ebitda). In the last quarter of 2010, the group’s leverage ratio was 3.97 times.
Net revenue in the fourth quarter of 2011 was R$ 1.092 billion, up 26.2% on the R$ 865 million in the same period last year. Pressured by the payment of interest and liabilities to hedge long-term debt, the company registered a net financial loss of R$ 104.7 million in the fourth quarter of 2011, 12.2% up on that reported in the same period of 2010.
Information provided by Valor Econômico