Comgás Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Revised Earnings Guidance for the Year 2018
For the nine months, the company's net sales were BRL 4,924,663,000 compared to BRL 4,041,014,000 a year ago. Profit from continuing operations was BRL 420,242,000 compared to BRL 397,553,000 a year ago. Net profit attributable to owners of the parent was BRL 336,228,000 compared to BRL 250,177,000 a year ago. EBITDA was BRL 1,092,788,000 compared to BRL 1,142,960,000 a year ago. Additions to PP&E, intangible and biological assets was BRL 382,025,000 compared to BRL 244,530,000 a year ago. Normalized EBITDA was BRL 545.6 million compared to BRL 476.9 million a year ago. CAPEX was BRL 138.9 million compared to BRL 126.4 million a year ago. Cash flow from operating activities was BRL 1,313,897,000 compared to BRL 1,247,902,000 a year ago. Net debt was BRL 1,025,471,000 compared to BRL 1,010,019,000 a year ago. Normalized net income was BRL 732,317,000 compared to BRL 562,713,000 a year ago.
The company also provided earnings guidance for the year 2018. For the year, the company expects normalized EBITDA to be in the range of BRL 1,900 million to BRL 1,950 million compared to previously provided guidance Normalized EBITDA to be in the range of BRL 1,770 million to BRL 1,870 million. Capex expects to be in the range of BRL 470 million to BRL 530 million compared to previously provided guidance Capex range of BRL 450 million to BRL 500 million.