Financial results establish new record

In 2008, Petrobras Distribuidora recorded the best financial result in its history. For the first time ever, the net income passed the R$ 1 billion mark, reaching R$ 1.3 billion, fully 57.1% higher than the result obtained in the previous year, due to the steady increase in sales volume and the continuous efforts to keep control over costs.

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The Brazilian fuel distribution market continues to expand, with growth of 8.9% in 2008, up from 8.2% in 2007. The contributing factors were the country’s economic growth, the expansion of the vehicle fleet, notably those with flex-fuel capability, and the increased number of seats made available by the airline companies.

The only company in the sector that is present in every single region of the country, with a total of 5,998 service stations, Petrobras Distribuidora played a significant role in meeting this growth in the market. Once again, the company notched up record sales, totaling 37.8 million m3. What is more, it retained its leadership of the market, increasing its share to 34.9% at the end of the year (up 0.6 of a percentage point from the 34.3% at the end of December 2007).

As part of its effort to develop a quality differential and strengthen the brand in the market, Petrobras Distribuidora continued to focus on the Keeping an Eye on the Fuel Program and closed the year with 5,434 service stations duly certified under this program. Based on the quality requirements set down in the ISO 9001:2000 consumer protection standard, the program covers a whole range of controls, from the field testing of the fuels to the cleaning of the fuel tanks and filters. Studies carried out by the company to compare the quality control programs developed by other players in the segment showed that the Keeping an Eye on the Fuel program is the most complete in the market.

The company’s investments in 2008 amounted to R$ 409.6 million and were mainly concentrated in the distribution of oil products, natural gas, ethanol and biodiesel, and particularly in the development and modernization of the service station network, providing support to commercial and industrial customers, and in logistics operations and HSE (Health, Safety & Environment) programs. One highlight was the commencement of construction of a gas pipeline in the south of Espírito Santo, representing 60 km of the natural gas distribution network for the municipality of Cachoeiro de Itapemirim, which will have a capacity of 600 thousand m3/day.

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