Rumo ALL reverts profit into loss of 43.7 million BRL in the third quarter

The rail logistics operator Rumo ALL has recorded a net loss of 43.7 million BRL in the third quarter, reverting the profit of 68.2 million in 2014, when considering the combined result of the two merged companies, to allow comparison.

According to the company, part of the Cosan group, the net result was impacted by higher operating costs and expenses due to the adoption of new accounting policies and higher interest expenses, as an effect of higher interest rates during this period. The financial result was negative by 399.4 million BRL, a 50% jump.

Rumo ALL’s liquid revenue totaled 1.36 billion at the end of September, increasing by 22.2% on the annual basis. The total volume transported reached 12.5 billion tons per kilometer (TKU), 6% higher than the third quarter of 2014, mainly due to the 14% increase in transport of agricultural products.

In other hand, costs advanced by 30%, to 921.4 million BRL, and expenses grew by 42%, to 95.2 million BRL. Thus, despite the advancements on the revenues, the profits grew less than the interest, taxes, depreciation and amortization (Ebitda), by 3%, to 551.6 million BRL.

Net debt reached 7.29 million BRL at the end of September, an increase of 3%. This leverage, measured by the relation between net debt and the Ebitda, reached 4.85 times during the third quarter, lower than the 4.95 times from June.

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