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Brazil's Vibra profit more than triples in third quarter driven by tax gain
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Brazil's Vibra profit more than triples in third quarter driven by tax gain
Nov 9, 2024 11:08 AM

(Adds details of the earnings report)

SAO PAULO, Nov 5 (Reuters) - Brazilian fuel distributor

Vibra said on Tuesday its net profit more than

tripled in the third quarter from a year earlier, to 4.2 billion

reais ($730.3 million), boosted by a tax gain.

WHY IT'S IMPORTANT

Vibra is one of the largest fuel distributors in Latin

America, operating a chain of gas stations and also selling fuel

directly to companies.

BY THE NUMBERS

Vibra's net profit jumped from the 1.26 billion reais it

registered in the same period last year.

Adjusted net revenue rose 7.4% year-on-year, to 46.4 billion

reais, even though sales volume came down 0.3%.

Vibra's adjusted earnings before interest, taxes,

depreciation and amortization (EBITDA) declined almost 15% from

the same period last year to 1.99 billion reais, but beat the

1.5 billion reais estimated by analysts in a LSEG poll.

Adjusted EBITDA margin fell 14.6% to 212 reais per cubic

meter.

Vibra said its net profit was boosted by a one-off tax gain

with a net impact of 2.9 billion reais in the period.

($1 = 5.7508 reais)

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