Posted at 7:56
Stock exchanges, oil and bitcoin (7h56)
Germany (DAX): +1.24%
London (FTSE 100): +0.52%
China (Shanghai Comp.): +0.22% (trading session closed)
Japan (Nikkei 225): -1.45 (trading session closed)
Hong Kong (Hang Seng): +3.22% (trading session closed)
Brent Oil: -2.61% ($79.9). Brent is a point of reference for Petrobras.
WTI Oil: -2.57% ($74.9)
Bitcoin Future: +1.23% ($16,820)
Iron ore
The most liquid iron ore futures contract traded on China’s Dalian Stock Exchange closed 0.3% lower at 846 yuan ($122.9). The listing could impact the shares of Brazilian Vale (VALE3), CSN (CSNA3) and CSN Mineração (CMIN3). This data was obtained from the link: http://www.dce.com.cn/DCE/Products/Industrial/Iron%20Ore/index.html
New York stock futures
As of 7:55 am on Wall Street, Dow Jones futures were up 0.17% and the S&P 500 futures were up 0.25%. Nasdaq futures rose 0.32%.
Company news:
Eletrobras approves the share buyback programme
The board of directors of Eletrobras (ELET3, ELET6) approved a share buyback programme.
The information was released on Tuesday evening, 3.
Up to 202,111,946 ordinary shares and up to 27,552,681 preference B shares may be purchased, equal to 10% of the total outstanding shares of each class and type.
The maximum settlement period for transactions under the buyback plan is up to 18 months, starting on January 3, 2023 and ending on July 2, 2024.
BR Properties (BRPR3) convenes a meeting: capital reduction and grouping on the agenda
BR Properties (BRPR3) announced after the close of market the day before that its board of directors approved the convening of an extraordinary general meeting, to be held on January 24, 2023, to resolve the reduction of the share capital by the amount amount of BRL 2,510,809,856.20, as deemed excessive, subject to return to shareholders, with a cash share for a total amount of BRL 1,276,000,000.00 and a share share of BRPR Corporate Offices Fundo de Investimento Imobiliário (FII ), for a total amount of BRL 1,234,809,856.20.
The grouping of all shares issued by the company in the ratio of 40 shares to 1 share will also be approved.
After the sales of the commercial towers in Brookfield, announced in mid-2022, followed by the amortization of debt issues at the time and the reduction of capital in the amount of R$ 1,125,000,000.00, the company began to analyze which it would have been the best use of funds deriving from the collection of the installment of the sale price of the properties involved in the transactions, as well as from the use of its residual portfolio of office towers.
BR Properties highlighted in a relevant fact this Tuesday that the local and foreign macroeconomic scenarios remain difficult and that it does not expect new short-term investments that could generate attractive returns. In this context, it has decided to propose the 2023 capital reduction to the shareholders, so that they can better monetize their invested capital, both in relation to the liquidity to be generated by receiving the forward portion of the operations in July 2023, and the remaining portfolio of commercial towers .
The company announced that it has signed a commitment term for the structuring of private securities issues with Banco BTG Pactual, through which BTG has guaranteed a loan line of R$ 1,330,000,000.00 for the advance of part of the installment due in July 2023 relating to the transactions, with the aim of allowing the company to use these resources from this advance in the 2023 capital reduction.
As regards the share in kind of the 2023 capital reduction, the company structured the FII with the aim of transferring the properties of its portfolio of commercial towers to this fund and of delivering the respective shares to the company’s shareholders.
The FII shares will be registered for trading on the B3 secondary market and, once admitted to trading, will be traded under the ticker BROF11.
If the 2023 capital reduction and reverse split are approved, shareholders will receive FII shares at a rate of one share for each share they hold, BR Properties explained.
The ratio of 1:1 was established considering that the reverse stock split to be approved at the ETA will be completed before the entry into force of the 2023 Capital Reduction and the delivery of the FII shares.
The proposed capital reduction for 2023, if approved, will enter into force only 60 days after the publication of the minutes of the Shareholders’ Meeting.
“The proposed reverse stock split aims to reduce the volatility of the company’s issued shares and provide a better level for the pricing of its shares considering the effectiveness of the capital reduction in 2023,” BR Properties said.
Gol (GOLL4) estimates a loss in 4Q22
Gol (GOLL4) reported Tuesday 3 that it estimates a loss for the fourth quarter of 2022 (4Q22).
The company expects a loss per share (LPA) and loss per US depository share (LPADS) of approximately R$2.3 and US$1.2, respectively.
Details are contained in an investor update on expectations for the fourth quarter of 2022.
The information is preliminary and unverified.
The company expects an EBITDA margin for the quarter estimated at around 20%.
“Expected revenue per unit passenger (PRASK) for the fourth quarter increased approximately 20% compared to the same period last year, driven by continued recovery in demand for leisure travel combined with an increase in international travel,” has explained.
According to Gol, Smiles’ revenues increased by 64% compared to the same period in 2019 with a customer base growth of 21% compared to 4Q19.
Total Revenue Unit (RASK) is expected to grow 23% year over year.
Ex-Fuel Unit Cost (CASK Ex-Fuel) is expected to decrease approximately 12%, compared to 4Q21, mainly due to Increased Supply (ASK) and increased productivity (aircraft utilization and operational efficiency) .
Unit cost of fuel (CASK fuel) is expected to increase by 42% compared to 4Q21, impacted by an increase in the average price of aviation kerosene (AQA) of approximately 45%, partially offset by a decrease of approximately 2% in fuel burn per hour operated due to the larger share of the fleet consisting of 737-MAX aircraft.
The company’s leverage, represented by its Net Debt/EBITDA ratio, was approximately 10x in the quarter ended December 2022 (approximately 8x under IFRS-16). Total liquidity at the end of the quarter is estimated at R$3.6 billion.
BRF: Artemio Listoni, from Marfrig, assumes the vice presidency of operations
The board of directors of BRF (BRFS3) has elected Artemio Listoni to the position of Vice President of Industrial Operations and Logistics.
The executive replaces Vinícius Guimarães Barbosa, current Vice President of Supply Chain.
The purchasing area of BRF will now report to Miguel de Souza Gularte, global CEO of the company.
Artemio Listoni started his career at the former Sadia Alimentos in 1981 until 1995, returning to the company from 2006 to 2008, and most recently held the position of Operations Director – South America at Marfrig Global Foods.
BRF highlighted that Artemio has “extensive” experience in the industrial operations of animal protein companies.
Viver (VIVR3) announces the capital increase resulting from the conversion of bonds
Viver’s board of directors (VIVR3) approved the mandatory conversion of 22,500 notes into 31,365,555 shares of common stock.
The conversion takes place due to the maturity date of December 30, 2022 of the 1st series of the 5th issue of bonds convertible into ordinary shares.
The value of the capital increase was R$ 22,896,855.15. The share capital increased from R$ 2,482,664,617.10 to R$ 2,505,561,472.25.
Petrobras receives letter from the Ministry of Mines and Energy on the appointment of Jean-Paul Prates
Petrobras (PETR3, PETR4) announced the day before that it had received a letter from the Ministry of Mines and Energy informing that Jean-Paul Terra Prates will be appointed president and member of Petrobras’ board of directors.
“The appointment, once effective, will be subjected to the internal governance process, in compliance with the Policy Nominating Senior Management Members, for the analysis of the legal and managerial and integrity requirements and subsequent manifestation of the Eligibility Committee”, explained the state company.
Dimed (PNVL3) opens 60 new stores in 2022
Dimed (PNVL3), a leading pharmaceutical retailer and distributor in the country, reported that it grossed 60 new stores during the year 2022.
Thus the year ended with a total of 556 points of sale, distributed in the states of Rio Grande do Sul, Santa Catarina, Paraná and São Paulo.
Dimed has strengthened its expansion strategy, which aims to consolidate in the three states of the southern region and a digital expansion strategy for the city of São Paulo.
In the last 24 months, the company has opened a total of 120 stores, of which 60 in 2021 and 60 in 2022.
Gafisa’s board of directors partially approves the capital increase
The board of directors of Gafisa (GFSA3) partially ratified the private capital increase previously approved on November 24, 2022, for an amount of R$ 78,083,806.57 through the issue of 13,257,013 shares at the issue price of R$5.89.
The new shares will give their holders the same rights as the existing shares, including dividends, interest on capital and any capital remuneration that may be decided upon.
Gafisa’s initial expectation is that the shares subscribed in the capital increase will be issued and credited on behalf of the subscribers on January 6, 2023.
In consideration of the partial ratification of the capital increase, the share capital will be R$ 1,331,041,920.06.
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