Providencia Announced Highlights for 4th Quarter 2011 and Year 2011
OREANDA-NEWS. February 29, 2012. Highlights for the 4th Quarter 2011 and the year 2011
" Sales Volume amounted to 87.7 thousand tons in
" Net revenue reached BRL 526.6 million during the year, 16.2% more than 2010, basically reflecting an increase in sales volume;
" Gross Profits were BRL 46.2 million in 4Q11, BRL 6.2 million more than the same period last year, a 15.3% growth;
" Net Debt recorded an increase of BRL 96.9 million, or 39.7%, in relation to 4Q10. Compared with 3Q11, there was an increase of 11.9%, or BRL 36.3 million, the principal factor here being additional funding of new lines projects in Brazil and in the United States;
" In November, the Company drew down the value on an export finance line from the BNDES amounting to BRL 50 million at an annual fixed rate of interest of 9.0%, repayable in 18 months;
" On November 25, the Company made an interim dividend payment of BRL 14.1 million, relating to 100% of the adjusted net income for the first half of 2011 and, subject to approval by the AGM, is proposing the distribution of 100% of the annual adjusted dividend calculation base, equivalent to BRL 39.5 million, BRL 25.4 million of which will be paid out in 2012.
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