Transpetro announces earnings of R$ 498 million in 2023

Transpetro reported a net income of R$ 498 million in 2023, a 14% increase compared to the prior year result of  R$ 438 million. The results stem from improved performance and higher operational efficiency of the company as well as a strategic goal of seeking new business. In 2023 alone there were over 100 new contracts signed, mostly with companies outside the Petrobras system.

The company further recorded and adjusted an Ebitda (earnings before interest, taxes, depreciation and amortization) of R$ 4.9 billion, about the same level as the prior year. The performance of the adjusted Nopat indicator, a leading financial metric of the company that determines the operational net income after taxes, reached R$ 968 million, 3.8% higher than the 2023 forecast.

In 2023 Transpetro made investments of R$ 522 million, demonstrating the commitment of the company with the continuity and perpetuity of its business. The largest portion of the funding was directed to the Maritime Transportation segment (R$ 322 million), focused on preventive maintenance of the ships (drydocking) and energy and operational efficiency projects on the vessels. In the Pipeline and Terminal segment the effort was concentrated in improvement and modernization projects, as well as acquisitions of equipment and other assets necessary for efficient operation of the facilities.

“This is an extraordinary result for various reasons. The net income of R$ 500 million was reached without the sale of any company assets, with increasing revenue from new business, operational records and continuity of investments. In additions we resumed a series of social responsibility initiatives. We are restoring the strategic role of a state owned company, always seeking excellent financial performance but without failing to support our citizens”, stated Transpetro President Sérgio Bacci.

The results attained allow for a transfer of R$ 2.5 billion to society in the form of generated taxes (own and withheld from third parties) to federal, state and municipal governments.

Largest provider of Ship to Ship operations in Brazil

In the prior year Transpetro expanded the availability of Ship to Ship operations (transshipments of cargo between vessels) to the Itaqui Port (Maranhão), the Todos os Santos Bay (Bahia) and the Mucuripe Port (Ceará). As a result the company surpassed its record of direct transfer maneuvers between ships, completing 873 operations, a 33.3% increase from the prior year.

These numbers consolidate Transpetro as the largest Ship to Ship provider in Brazil. This logistics options allows for a gain of scale in product handling with use of larger ships and can reduce the transportation costs involved in this maritime mode of up to 30%.

Diversity and social responsibility

In 2023 Transpetro developed a wide set of initiatives that made the company more diverse and inclusive. After the administrative restructuring promoted by the management, the number of women in management positions increased to 97, a 48% gain compared to the previous structure. It also increased by 17% the number of employees that self-identify as black, mixed race, indigenous or Asian descent in leadership positions.

Conscious of its social function and in order to ensure financial results are always aligned to the interests of society in general, Transpetro developed various actions geared to the communities surrounding its installations, serving tens of thousands of people.

One example is the work conducted in São Francisco do Conde (BA), where the company, in partnership with the community and the public sector, developed the Abraça Caípe project, which in its first phase built a community center with soccer field, open air gym and children’s playground.

In the next few months, Transpetro will support the implementation of a sewage system in the community of Caípe de Baixo, benefitting the 5 thousand local residents.

Another large scale company project is being developed in Coari (AM), in the midst of the Amazon forest. In a unique initiative, the company and Funai developed an Environmental Basic Plan that involves among other initiatives the construction of dwellings for indigenous people of the Cajuhiri Atravessado, Cajuhiri Atravessado 1 and Tupã da Floresta village.

“This year our goal is to expand our activities in the communities surrounding our projects and along the over 8 thousands kilometers of pipeline easement strips”, highlights Bacci.

Operational efficiency

The volume handled at the terminals and pipelines increased 3.2% compared to 2022. The ship fleet registered an operational availability record, at a 99% rate when accounting for dry docking.

In 2023  Transpetro repeated its best result in the historical series of Terminal Efficiency Control, which measures cargo loading and unloading operations performance at the terminals: 99.3%.

Also deserving of note is the result obtained in the indicator that measures the efficiency level of ships in terminals operated by the company, the Ship Efficiency Control, which reached 98.6%.

The continuous concern of the company with its stakeholders is also reflected in the decrease in the number of fuel thefts on the pipelines. With uninterrupted actions to prevent this criminal practice and to collaborate with public safety authorities, 28 illegal taps were recorded in 2023, a drop of 52% compared to the prior year (58).

About Transpetro

Operation 48 terminals (27 waterway and 21 land terminals), approximately 8.5 thousand kilometers of pipelines and 35 ships, Transpetro is the largest Petrobras subsidiary. Transpetro is the largest oil and derivatives multimodal logistics company in Latin America.

Transpetro provides services to distributors, the petrochemical industry and to the other companies in the oil and gas sector. The portfolio of this Petrobras subsidiary includes over 180 clients.