Renar Macas S/a Reports Consolidated Earnings Results for the Third Quarter and Nine Months of 2012; Revises Earnings Guidance for the Year 2012
For the nine months, the company's net revenue was BRL 36.9 million compared with BRL 37.9 million a year ago. Operating loss was BRL 12.98 million compared with operating loss of BRL 9.1 million a year ago. Loss before taxes was BRL 23.2 million compared with operating loss of BRL 19.1 million a year ago. Net loss was BRL 21.1 million or BRL 0.1410 per share compared with BRL 18.0 million or BRL 0.1639 per share a year ago. EBITDA loss was BRL 7.1 million compared with BRL 2.7 million a year ago. Negative operating cash flow was BRL 6.1 million compared with negative operating cash flow of BRL 8.6 million a year ago. As on date, the company's net debt was BRL 85.5 million.
For the year 2012, the company estimates net revenue in the range of BRL 48 million to BRL 50 million, EBITDA loss in the range of BRL 4 million to 2 million compared to previous guidance for net revenue in the range of BRL 48 million to BRL 50 million, EBITDA in the range of BRL 0 million to 2 million. EBITDA was revised due to the reduction in revenue and the increase in the cost/kg resulting from the decline in agricultural yield from 40.1 t/ha to 37.4 t/ha caused by hail damage to the orchards.