Petrobras – Investor Relations

Petrobras

Investor Relations

2010: Record Net Income of R$ 35.56 billion

Rio de Janeiro, February 25, 2010 – Petróleo Brasileiro S.A. – Petrobras announces its consolidated results of the fourth quarter of 2010 and its annual results, according to the international financial reporting standards (IFRS).

In 2010, the net income was R$ 35.2 billion (R$ 3.57 per share), 17% higher than the 2009 number of R$ 30.1 billion (R$ 3.43 per share). The gross profit reached R$ 77.22 billion in 2010, 4% higher to the last year result (R$ 74.13 billion).

The net income of the period from January to September 2010 (Jan-Sept/2010) reached R$ 24.58 billion, 10% higher than the Jan-Sept/2009 period, mainly due to higher sales volume, which increased 13%, and to an increase of oil prices.

Oil products demand in the domestic market (+13%) pushed the net income increase, highlighting the sales of diesel (+9%), gasoline (+17%), jet fuel (+19%) and natural gas (+33%). Additionally, the 2% increase of the oil and gas production and higher volume of the international sales (+10%) were favorable to the results.

In the segmented result, the increase in the oil price and in the production volume in 2010 influenced the result of the Exploration & Production (E&P) segment. However, the Supply segment presented a decrease in the result due to the increase in the oil price.


Net Income per segment (R$ million) 1

Segments(1)

2010

2009

Exploration & Production

29,691

19,289

Refining, Transportation and Commercialization

3,722

13,521

Other Segments(2)

3,867

1,835


The investments in 2010 totaled R$ 76,411 million, 8% higher than 2009 investment amount and representing 86% of the investment planned for the year. The investment aimed to increase oil and natural gas production capacity and to improve the refining park and petrochemical assets.

Petrobras also informs the approval of its Capex Plan which totaled R$ 93,669 million. The table presented bellow shows the 2011 Capex Plan detailed by segment.
 

2011 Capex Plan

Segments

Investment

R$ Million

%

Exploration & Production

42,999

46%

Refining, Transportation and Commercialization

37,215

40%

Gas & Power

4,677

5%

International

5,468

6%

Distribution

1,188

1%

Biofuel

913

1%

Corporate

1,210

1%

TOTAL

93,669

100%

Last updated 

Close