State companies’ profit up 20%

04 de outubro de 2017

Brasília – Total profit of the five main Brazilian state-owned groups reached BRL 17.3 billion (USD 5.59 billion) in the year’s first six months, an increase of 19.6% over the same period of last year, when total results stood at BRL 14.5 billion (USD 4.69 billion). The data is part of the third edition of the Bulletin of State Companies, released this Wednesday (4) by the Ministry of Planning.

The data is from five groups that represent over 95% of total assets and net equity of federal state companies: Petrobras, Eletrobras, Caixa Econômica Federal, Banco do Brasil and Banco Nacional de Desenvolvimento Econômico e Social (BNDES).

According to the bulletin, among the groups analyzed, the one with the sharpest growth was Petrobras, which went from a profit of BRL 518 million (USD 167.42 million), in 2016’s first six months, to BRL 5.1 billion (USD 1.65 billion) in the same period of 2017. Meanwhile, Eletrobras had a 80.6% decline in the same period.

*Translated by Sérgio Kakitani