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Pemex 4Q Net Income MXN106.94Bn

MEXICO
  • Pemex swung to a profit in Q4, reporting a net income of 106.9 billion pesos ($6.3 billion), from a 79.13 billion peso loss in the previous quarter, as it seeks to reduce its roughly $100bn debt burden.
  • The company has $11bn coming due this year, the largest chunk of bond maturities it will face until at least 2050.
  • PEMEX FOURTH QUARTER RESULTS (Bloomberg)
    • Net income MXN106.94 billion
    • Revenue MXN425.53 billion, -17% y/y
    • Ebitda MXN60.50 billion, -34% y/y
    • Operating income MXN75.49 billion vs. loss MXN112.45 billion y/y
    • Crude oil & condensate production 1.86 million b/d
    • Crude processing 731,000 b/d, -13% y/y

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