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Dec 31, 2024
Petrobras Q4 2024 Earnings Report
Petrobras Q4 2024 Earnings Report
Key Takeaways
Petrobras reported a net loss of $2.78 billion in Q4 2024 due to exchange rate fluctuations impacting debt. The company's revenue fell 23.2% YoY to $20.82 billion. Operating income was $2.79 billion, while free cash flow for the quarter stood at $3.77 billion. Adjusted EBITDA was $7.17 billion, with significant contributions from the exploration and production segment.
Revenue declined 23.2% YoY to $20.82 billion, impacted by lower oil prices and refining margins.
Net loss of $2.78 billion due to foreign exchange losses, while net income without one-off events was $3.1 billion.
Adjusted EBITDA stood at $7.17 billion, with an EBITDA margin of 34%.
Free cash flow of $3.77 billion, maintaining strong liquidity despite currency depreciation.
Petrobras
Petrobras
Petrobras Revenue by Segment
Petrobras Revenue by Geographic Location
Revenue by Segment
Exploration & Prod. Revenue
CapyFin.comRefining & Mktg Revenue
CapyFin.comGas & Low Carbon Revenue
CapyFin.comRevenue by Geographic Location
Domestic Revenue
CapyFin.comForeign Revenue
CapyFin.com Forward Guidance
Petrobras expects increased oil production in 2025, targeting 100,000 barrels per day of additional output. The company will focus on new exploration projects and refining capacity expansions.
Positive Outlook
- Projected increase of 100,000 barrels per day in 2025 production.
- Three new production systems to be operational in 2025.
- Increased refining capacity with upgrades at key refineries.
- Continued investment in decarbonization and renewable energy.
- Financial discipline maintained despite macroeconomic challenges.
Challenges Ahead
- Potential foreign exchange volatility impacting financial results.
- Lower refining margins expected due to global economic conditions.
- Oil price fluctuations could affect revenue growth.
- Rising operating costs due to inflation and regulatory requirements.
- Challenges in maintaining reserve replacement amid exploration uncertainties.
Revenue & Expenses
Visualization of income flow from segment revenue to net income