Fertilizantes Heringer S.A. Announces Earnings Results for Fourth Quarter and Full Year Ended December 2017; Provides Capex Outlook for the Year 2018
March 12, 2018
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Fertilizantes Heringer S.A. announced earnings results for the fourth quarter and full year ended December 2017. For the quarter, the company reported net revenue totaled BRL 1,487.7 million in fourth quarters of 2017, 8.3% up on the BRL 1,373.2 million recorded in 2016. EBITDA was BRL 71.2 million in fourth quarters of 2017, versus an EBITDA of BRL 138.0 million in fourth quarters of 2016. Net loss came to BRL 23.2 million in fourth quarters of 2017, versus a net income of BRL 52.4 million in fourth quarters of 2016. Cash flows used in operating activities was BRL 79,587,000. Operating profit was BRL 58,650,000 against BRL 124,673,000 a year ago.
For the year, the company reported net revenue fell by 7.8%, from BRL 5,195.0 million in 2016 to BRL 4,789.7 million in 2017. EBITDA totaled BRL 91.9 million, less than the BRL 249.6 million recorded in 2016. The net loss recorded in 2017 totaled BRL 125.6 million, versus net income of BRL 43.2 million in 2016. 2017 CAPEX was well below the BRL 20 million expected by the Company. Cash flows used in operating activities was BRL 120,878,000. Operating profit was BRL 39,116,000 against BRL 197,802,000 a year ago.
In line with its business plan, the Company estimates a CAPEX of up to BRL 20 million for 2018.
Fertilizantes Heringer SA is a Brazil-based company primarily engaged in the production, marketing and distribution of fertilizers under the Heringer brand name. The Company organizes its business into two segments: Industrial, which constists of sulfuric acid and single super phosphate (SSP) production plant, and Mixing Plants segment, which includes fertilizer mixing industrial units. As of December 31, 2011, the Company operated 19 fertilizer mixing plants. The Companyâs products are used in the crop production sector, including farming of cane, soybeans, corn and coffee, among others. Through its subsidiary Logfert Transportes SA, the Company is also involved in the road transport operations. On January 4, 2012, it acquired Maxifertil Fertilizantes Ltda, located in the municipality of Porto Alegre. On June 29, 2012, the Company completed the operation of merger by incorporation of its subsidiary Maxifertil Fertilizantes Ltda.
FERTILIZANTES HERINGER S.A. 
