Brazil Unipar stocks slip after reporting 4Q R746m loss

24 March 2010 21:35  [Source: ICIS news]

SAO PAULO (ICIS news)--Stocks for Brazilian petrochemical firm Unipar dropped over 6% on Wednesday after the company reported a reais (R)746m ($418m, €309m) loss in the fourth quarter of 2009.

During the afternoon, the firm’s stocks were seen dropping over 6% at the Bovespa stock exchange.

Unipar reported fourth-quarter net losses of R746m compared with a smaller loss of R50.4m year over year.

According to the company, losses were caused by the impact of the sale of Quattor, Unipar Comercial and Polibutenos to Braskem.

For the whole of 2009, Unipar had a R680.5m net loss, more than three times the loss in 2008.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) in the fourth quarter stood at R106m, compared with R4m in the fourth quarter of 2008.

EBITDA for all of 2009 reached R626.6m, a 51.8% increase compared with 2008, the company said.

($1 = R1.78) ($1 = €0.74)

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By: Hellen Berger
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