ALL Reports 3Q09 Results
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CURITIBA, Brazil, Nov. 11 /PRNewswire-FirstCall/ -- America Latina Logistica S.A. - ALL (Bovespa: ALLL11), Latin America's largest independent logistics company, announces its results for the third quarter of 2009 (3Q09) and nine months of 2009 (9M09).
-- ALL Brazil's volume grew 10.3% in 9M09 to 27,593 million RTK. In 3Q09,
Brazil rail volumes rose 11.4%, to 10,065 million RTK, pushed by a 13.1%
growth in agricultural commodities and a 7.2% increase in industrial
products.
-- Average yield decreased 2.9% in Brazil, from R$76.8 per thousand RTK in
9M08 to R$74.6 per thousand RTK in 9M09, mainly driven by weak freight
prices in the spot market and the contractual diesel pass through of the
significant price reduction realized by Petrobras in June. In 3Q09,
average yield decreased 6.5% in Brazil reflecting a full quarter of
lower diesel prices and higher volumes of return cargo, partially offset
by an increase in trucking drayage service volumes.
-- ALL Brazil's EBITDA increased 2.2% in 9M09 to R$975.6 million, driven
by higher rail volumes and market share gains partially offset by lower
yields and margins
-- Total subscription in ALL's Private Offering of Convertible Debentures
reached more than R$1.2 billion, during the preemptive rights
subscription period ended in November 3rd. Controlling Shareholders
subscribed a total of 3.8 million Debentures, equivalent of R$464.6
million, to be converted in common shares with a 3 years lock-up-period.
Total Leftovers amounted R$61.9 million and can be subscribed until
November 13th.
-- First estimates indicate a very positive market scenario for 2010. Total
grain crop in our coverage region is expected to grow 9.3% in 2010 as
compared to 2009. Industrial production is expected to grow 6.5% in
2010. The signs for a recovery in yields are very positive for 2010.
Full information is available on the ALL's IR website:
ALL will be hosting conference calls to discuss 3Q09 Results on November 12, Thursday, at 8:30 a.m. US EST (English) and 7:00 a.m. US EST (Portuguese). See connecting details on the Company's IR Website.
SOURCE America Latina Logistica S.A.
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