Fertilizantes Heringer S.A. announces
3Q16 Earnings
Viana, Brazil, November 4, 2016 - Fertilizantes Heringer (BM&FBOVESPA: FHER3)announces today its results for the third quarter of 2016 (3Q16).
Periods Highlights:
- Delivery volume totaled 1.3 million metric tons in 3Q16, 17.0% down from 1.6 million metric tons in 3Q15, and 3.1 million metric tons in 9M16, 16.4% lower than in 9M15;
- Third-quarter net revenue came to R$1,512.5 million, 24.8% lower than in 3Q15. In 9M16, net revenue totaled R$3,821.8 million, 16.7% down on 9M15;
- EBITDA stood at R$85.0 million in 3Q16, 6.1% higher than the R$80.1 million recorded in 3Q15, and R$111.6 million in 9M16, 8.1% up on the R$103.2 million reported in 9M15;
- The net financial expense fell by a substantial 89.9%, from R$384.9 million in 3Q15 to R$38.9 million in 3Q16 (appreciation of the real). In 9M16, the net financial expense totaled R$89.5 million, an 86.4% improvement over the R$656.5 million recorded in 9M15;
- Net income totaled R$22.5 million in 3Q16, reversing the R$209.5 million net loss recorded in 3Q15. In 9M16, Heringer posted a R$9.3 million net loss, versus a R$389.7 million net loss in 9M15; and
- Deliveries of specialty products recorded year-on-year growth in both periods - 2.4% in 3Q16 and 9.5% in 9M16. As a result, their share of the Company's portfolio increased from 39% to 48% between 3Q15 and 3Q16 and from 38% to 49% between 9M15 and 9M16.
For the 3Q16 Earnings Release, click here.
The Company will be hosting a Conference Call on 3Q16 Earnings, on MONDAY, November 7, as follows:
Conference Call in Portuguese
(simultaneouslytranslated into English)Monday, November 7, 20169:00 a.m. US ET | 12:00 p.m. (Brasília time)
Connecting number: +1 (516) 300 1066
Code: Fertilizantes Heringer
Webcast: click here
The slide presentation will be available on Heringer's IR website prior to the beginning of the Conference Call.