State oil Petrobras Wednesday gave step forward on the road for the recovery of credibility to submit audited results 2014 , the disclosure of which had been postponed by the giant corruption scandal installed in the oil. “The publication is an essential step in the direction towards the rescue of credibility with shareholders, suppliers, market and society,” said the president of the oil, Aldemir Bendine during the presentation of balance.
Oil reported that last year recorded a loss of 21.587 million reais ($ 7,200 million), compared to net profit of 23.400 billion reais ($ 7,800 million) registered in 2013, representing the first annual loss of the company since 1991.
The company attributed the negative result of 2014 to a loss of 44,600 million reais (or 14.866 million dollars) by the devaluation of its assets and the damage caused by corruption, valued at 6,200 million reais ($ 2.066 million dollars), among other factors.
The disclosure of the value of the losses caused by corruption was demanded from for months by the financial market, which in recent weeks opted for the papers of the oil, which have risen 30% so far this year- amid expectation for the disclosure of balance.
Despite reporting losses incurred as a result of the criminal scheme installed in the state company, Petrobras said it failed to identify “the specific values of each payment made or periods when such payments occurred.”
The company also stressed that not yet recovered any value concerning “improper” payments, but said it is taking the necessary legal action to seek compensation for damages.
For the president of Petrobras The presentation of the results of the Company place the oil in “another level” and “ensure normal” with investors and shareholders, but said the company still has a “huge challenge” ahead.
“Take the case of an air disaster. It is always through it that security measures are perfect. Let’s say we had a great disaster. That will help us to invest more and more in governance, “said the president of the largest company in Brazil.
Petrobras, responsible for a significant portion of the Brazilian GDP, also reported that in the third quarter of 2014 was a loss of 5,300 million reais (about 1,766 million dollars), while in the fourth quarter losses were 26,600 million reais ($ 8.866 million dollars).
The publication of audited financial statement the third and fourth quarters of 2014 had been postponed due to massive corruption scandal in which is immersed the state enterprise and for which they have been arrested exdirectivos company, politicians and executives from leading construction companies in the country.
Last January the oil balance reported unaudited third quarter and he reported that the company recorded a net profit of 3.100 billion reais ($ 1,003 million), a value that contrasts with losses 5,300 million reais (about 1,766 million dollars) released yesterday.
According to a statement from Petrobras, the difference in numbers is due, among other things, “bear additional expenses improperly capitalized in the field Operation Lava Jato. “
The investigations of corruption in Petrobras develop in a little over a year and in his course were held for five exaltos charges of oil, political and dozens of executives the most important construction in the country.
According to the authorities, employers obtained contracts with Petrobras, inflated prices, divided part of that difference with directors of the state and the rest is distributed among politicians, it received illegally or as “gifts” for their campaigns.
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