Petrobras Hits Leverage Target With Strong Fourth Quarter
Petrobras continued its solid performance during the year into the fourth quarter, reporting adjusted EBITDA of BRL 29.2 billion compared with BRL 13.0 billion a year ago. Meanwhile, free cash flow jumped to BRL 17.1 billion from BRL 6.6 billion last year, bringing its full-year total to BRL 54.6 billion from BRL 44.1 billion last year. The strong performance combined with debt reduction resulted in Petrobras reporting debt/EBITDA of 2.34 at year-end from 3.67 last year, below its 2.5 target and...
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