HBSA stops making a profit and loses R$ 187 million in 4Q21

The company Hidrovias do Brasil (HBSA) recorded a net loss of R$ 187 million in the fourth quarter of 2021, according to figures released by the company on Thursday (24).

With such a result, the company reversed the upward trend in profits it saw in the last quarter of 2020 when it earned R$ 38.3 million. According to the company, the decrease in profit is explained by the adverse effects of hedge accounting and the exchange rate variation.

In 2021, HBSA lost BRL 339.1 million while, in the previous year, it had lost  BRL 104.4.

Between October and December, the company’s adjusted Ebitda fell 39%, totaling R$ 87.6 million. The adjusted margin was 39.1%, down 9.4 percentage points compared to the 4Q20 margin.

The Ebitda in 2021 was R$ 427.6 million, an increase of 0.3%, and the margin was 34.3%.

Source: Money Times

To read the full original article, please go to:

https://www.moneytimes.com.br/hidrovias-do-brasil-hbsa3-reverte-lucro-e-tem-prejuizo-de-r-187-milhoes-no-4t21/

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