Fertilizantes Heringer S.A. Reports Earnings and Operating Results for the Second Quarter and Six Months of 2017; Provides Capex and Production Guidance for the Full Year 2017
August 09, 2017
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Fertilizantes Heringer S.A. reported earnings and operating results for the second quarter and six months of 2017. For the quarter, the company reported net revenue from sales of BRL 813,771,000 against BRL 994,776,000 a year ago. Operating loss was BRL 52,293,000 against BRL 22,932,000 a year ago. Loss before income tax and social contribution was BRL 150,946,000 against BRL 50,512,000 a year ago. Net loss was BRL 99,544,000 against BRL 33,279,000 a year ago. LBITDA was BRL 38,886,000 against BRL 10,217,000 a year ago. Loss before financial results and taxes was BRL 52,293,000 compared to BRL 22,932,000 a year ago. Cash flow from operating activities was BRL 63,056,000.
Delivery volume totaled 761,000 metric tons of fertilizers in second quarter of 2017, 9.2% lower than the 838,000 metric tons in second quarter of 2016.
For the six months, the company reported net revenue from sales of BRL 1,820,098,000 against BRL 2,309,282,000 a year ago. Operating loss was BRL 20,991,000 against profit of BRL 694,000 a year ago. Loss before income tax and social contribution was BRL 141,569,000 against BRL 49,907,000 a year ago. Net loss was BRL 92,552,000 against BRL 31,737,000 a year ago. EBITDA was BRL 5,906,000 against BRL 26,591,000 a year ago. Loss before financial results and taxes was BRL 20,991,000 compared to income of BRL 694,000 a year ago. In first half of 2017, CAPEX totaled BRL 2.3 million only. Cash outflow from operating activities of BRL 2,939,000.
Delivery volume totaled 1,617,000 metric tons of fertilizers in first half of 2017, 10.9% lower than the 1,816,000 metric tons in first half of 2016.
CAPEX is estimated at up to BRL 20 million in 2017, substantially lower than in 2014 and 2015. The company expects to deliver 34.5 million metric tons of fertilizers in Brazil in 2017, 1% more than the record level of 34.1 million metric tons in 2016.
Fertilizantes Heringer SA is a Brazil-based company primarily engaged in the production, marketing and distribution of fertilizers under the Heringer brand name. The Company organizes its business into two segments: Industrial, which constists of sulfuric acid and single super phosphate (SSP) production plant, and Mixing Plants segment, which includes fertilizer mixing industrial units. As of December 31, 2011, the Company operated 19 fertilizer mixing plants. The Companyâs products are used in the crop production sector, including farming of cane, soybeans, corn and coffee, among others. Through its subsidiary Logfert Transportes SA, the Company is also involved in the road transport operations. On January 4, 2012, it acquired Maxifertil Fertilizantes Ltda, located in the municipality of Porto Alegre. On June 29, 2012, the Company completed the operation of merger by incorporation of its subsidiary Maxifertil Fertilizantes Ltda.
Fertilizantes Heringer S.A. Reports Earnings and Operating Results for the Second Quarter and Six Months of 2017; Provides Capex and Production Guidance for the Full Year 2017
FERTILIZANTES HERINGER S.A. 