3R Petroleum (RRRP3) reported a net loss of R$229.9 million in the 1st quarter of this year, reversing a net profit of R$16.1 million in the same period of the previous year.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) totaled R$724.6 million in 1Q24, an increase of 4.7 times compared to 1Q23.
The adjusted Ebitda margin reached 36.1% between January and March this year, an increase of 9 pp compared to the margin recorded in 1Q23.
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Net revenue totaled R$2.007 billion in the first quarter of this year, growth of 3.5 times compared to the same stage in 2023.
The lifting cost, in turn, reached US$18.6 per barrel of oil equivalent (boe), an annual drop of 16.7%.
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The net financial result for 1Q24 was negative R$765.4 million, compared to a negative result of R$18.2 million in 1Q23 and a positive result of R$36.8 million in the previous quarter.
On March 31, 2024, the company’s net debt was R$7.792 billion, an increase of 15.6% compared to December 2023.
The financial leverage indicator, measured by net debt/adjusted Ebitda, was 2.8 times in March/24.
Tags: Petroleum RRRP3 reverses profit loss million #1st quarter
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