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SÃO PAULO – Vale's news after the tragedy of Brumadinho (MG), with prospects of a change of direction for the mining company, the result of Bradesco and the sale of Pasadena by Petrobras, among others highlights of the news undertaken Thursday (31). Check below:
Bradesco (BBDC3; BBDC4)
Bradesco recorded recurring net income of $ 5.830 billion in the fourth quarter of 2018, an increase of 19.9% over the same period last year, R $ 4.862 billion. The increase was 6.6% compared to the previous three months of 5.471 billion RB.
In a report accompanying its financial statements, the Bank notes that the change in quarterly and financial profits reflecting the performance of operating income, driven by the performance of net interest income and charges with provisions (expanded PDD). Bradesco also mentions the "positive performance" of service revenues and the results of insurance, pension and capitalization activities.
In 2018, Bradesco's recurring net profit reached R21.564 billion, an increase in Bradesco's expanded loan portfolio totaled R $ 531.615 billion in the fourth quarter of last year, up 1.6% compared to the previous year.
Bradesco's expanded loan portfolio reached R $ 531.615 billion in the fourth quarter of last year. compared to the previous three months. In one year, loans increased by 7.8%. The highlight was the individual, with growth of 4.6% and 11.0%, respectively. Bradesco closed December with total badets of $ 1.386 trillion, 2.2% more than sight.
Bradesco ended December with total badets of R $ 1.386 trillion at the end of September, R $ 1.357 billion. Growth was 6.8% year-on-year, at R $ 1,298 billion.
The bank's net worth was $ 121.121 billion in the fourth quarter, an increase of 9.7% in one year. Before the third, was recorded an increase of 4.7%. The return on equity of the institution (ROE) was set at 19.7% in the fourth quarter, up 0.7 point from the third quarter, by 19.0%. In one year, it increased by 1.7 pp. In 2018, the performance of Bradesco was 19.0%, compared to 18.1% in 2017.
"Bradesco ended the year 2018 with a solid performance and was ready to get more in 2019" The new projections are consistent with most of our estimates for the year, but we expect upward revisions of the consensus. We reiterate the title as our preferred name among private banks and our recommendation to buy at a target price of $ 49.00, "says XP Research.
The bank also named Leandro of Miranda Araujo as the director of investor relations.
Vale (VALE3)
A possible exchange of Vale's command after the Brumadinho tragedy appeared in the radar of the miner's shareholders. According to the O Estado de S. Paulo newspaper, the dismissal of Fábio Schvartsman, who took over the presidency of the mining company a little over two years ago, is considered by some shareholders as a necessity to satisfy the public opinion. public. On the other hand, the change can not be so fast that it would hurt the conduct of the crisis at that time.
At the end of last year, the Schvartsman contract at Vale was renewed for two years. The new term begins in May and ends in 2021. Vale's president, Gueitiro Genso, said that this discussion on the exchange of command was not on the table. "As chairman of the board, I mean that there is absolutely no process to replace the current president of Vale," he said.
On measures to minimize the environmental damage caused by dam failure, Vale yesterday presented the Attorney General and the environmental agencies with the plan to contain the residues that leaked. The affected area was divided into three sections, where different containment and recovery measures would be taken. Invest your money better: open an investment account in XP. In terms of financial compensation, the $ 11 billion hitherto frozen in Vale's accounts is more than double that of mining companies in meeting victims and recovering the environment after dam failure Samarco in Mariana (MG), three years old. About R $ 5.26 billion had this allocation until last month.
The minor still deferred publication of the fourth quarter results. The company has announced that it will release the report on production and sales on March 26, before the markets open, according to a statement. The financial performance will be published the next day, March 27, after the closing of the markets. Teleconferences and webcasts will be held on March 28th. The company has also postponed the extraordinary general meeting to April 30.
According to Vale, this decision stems from "the company's desire to support the people affected by the dam I of the Córrego de Feijão mine in Brumadinho". The publication of the results was scheduled for February 13th.
Bradespar (BRAP4)
Itaú BBA has decided to remove Bradespar from its portfolio of small-cap companies "at the moment", while the suspension of the dividend of Vale could result in a possible reduction in the number of shares. shareholders of Bradespar.
Petrobras, through its US subsidiary, signed an agreement with Chevron on Wednesday (30) to sell the controversial Pasadena refinery in the United States. The value of the transaction is $ 562 million, including $ 350 million in shares and $ 212 million in working capital. The final value of the transaction is subject to working capital adjustments up to the closing date of the transaction.
The Pasadena Refining System, a petroleum processing and derivatives business, and PRSI Trading LLC, which operates the exclusive commercial arm of PRSI, both wholly owned by Petrobras America Inc.
The Company indicates that PRSI has a processing capacity of 110,000 bpd and is located in the city of Pasadena, in the Gulf of Mexico, Texas. The refinery is independent of the Petrobras system, which can operate with medium and light oil flows and produces derivatives that are generally traded on the domestic US market.
Petrobras said in its statement that the finalization of the transaction was subject to satisfaction of the previous conditions. obtain the approval of the antitrust agencies of the United States and Brazil. "This transaction is part of Petrobras' partnership and divestment program, in accordance with the 2019-2023 business and management plan, which provides for the optimization of the company's portfolio", said the state company.
The refinery sparked controversy in 2014 amid denunciations that struck former President Dilma Rousseff, who at the time of the negotiations was chairman of Petrobras' board of directors . According to the Court of Auditors of the Union (TCU), the board of the oil company has approved the purchase of the refinery on the basis of "non-economic" criteria causing harm to the company. In 2014, questioned about the problems related to the acquisition of Pasadena, the then president said that she had received incomplete information from the Petrobras instances in charge of the negotiation, which led 39, had led to approve the transaction
"This transaction puts an end to a difficult chapter in Petrobras history since the purchase of the badet.The value of the transaction represents 2.1% of the disposal plan of badets of $ 26.9 billion.We see the commitment to continue to sell badets that are not at the center of the company.and maintain our recommendation to buy shares of Petrobras, "said XP Research . The public company paid 360 million USD for half of the company, nearly eight times more than the 42 million USD disbursed a year earlier by Swiss Astra for 100% of the company. capital city.
The company also announced that its proved reserves would have fallen to 11.96 billion barrels of oil equivalent in 2018. Finally, the state company has deposited about 2.5 billion rubles on a account linked to the Federal Court of Paraná, according to the Federal Public Prosecutor (MPF). The figures are part of an agreement signed by the government and the Lava Jato working group, already ratified by the judiciary.
Eletrobras (ELET3; ELET6)
Eletrobras strongly recommended to surpbad that of Safra, with a price target of R $ 44.90.
Porto Seguro (PSSA3)
Porto Seguro approved the repurchase of up to 5 million common shares.
Localiza (RENT3)
Localiza must set its price on Thursday, which could bring in R $ 1.7 billion.
Invest your money better: open an account of the company.
Sanepar (SAPR11)
Sanepar elected Abel Demetrio as Director of Finance. investments in XP.
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