Refinaria de Petroleos de Manguinhos SA em Recuperacao Judicial
The company’s capital structure is highly leveraged, with total liabilities of BRL 15.2 billion and total equity of BRL -6.5 billion, resulting in a negative debt-to-equity ratio of 0.0 [doc:HA-latest]. Liquidity is constrained, as evidenced by a current ratio of 0.82 and cash and equivalents of BRL 93.1 million, which is insufficient to cover short-term obligations. Free cash flow is negative at BRL -1.07 billion, driven by high operating cash flow of BRL 156.3 million offset by capital expenditures of BRL -63.4 million [doc:HA-latest]. Profitability is severely challenged, with a net loss of BRL 1.04 billion and an operating loss of BRL 1.27 billion, reflecting a return on assets of -11.98% and a return on equity of 15.99% despite negative equity [doc:HA-latest]. These metrics fall well below the industry median for refining and marketing firms, indicating operational inefficiencies and cost overruns. The company’s revenue is concentrated in Brazil, with no disclosed international operations, and its product portfolio is dominated by refined petroleum products. No segment-specific revenue breakdown is available, but the reliance on a single geographic market and commodity exposes the company to regional demand shocks and regulatory shifts [doc:HA-latest]. Growth is not evident in the near term, with no disclosed revenue growth in the latest period and no forward-looking guidance provided. The company is in judicial recovery, which may limit its ability to secure new capital or expand operations without restructuring approval [doc:HA-latest]. Risk factors include liquidity constraints, with low liquidity risk score and no immediate filing-based flags, but the negative equity position and high liabilities suggest long-term solvency concerns. Dilution risk is low, with no recent or disclosed share issuance or shelf registration activity [doc:HA-latest]. Recent events include the company’s judicial recovery status, which indicates ongoing legal and financial restructuring. No recent filings or transcripts were provided in the input data to detail specific developments [doc:HA-latest].
Business. Refinaria de Petroleos de Manguinhos SA em Recuperacao Judicial operates a petroleum refinery in Rio de Janeiro, Brazil, generating revenue through crude oil importation, refining, and sale of oil derivatives such as gasoline and diesel, as well as storage and logistics services [doc:HA-latest].
Classification. The company is classified under the Energy - Fossil Fuels business sector, specifically in Oil & Gas Refining and Marketing, with a confidence level of 0.92 based on verified market data.
- The company is in judicial recovery, indicating severe financial distress and operational challenges.
- Negative equity and high liabilities suggest a lack of financial stability and potential insolvency.
- Free cash flow is negative, and liquidity is constrained, limiting the company’s ability to fund operations or growth.
- Profitability metrics are poor, with a net loss and operating loss, and return on assets is significantly below industry norms.
- The company’s geographic and product concentration increases exposure to regional and commodity-specific risks.
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- No immediate filing-based liquidity or dilution flags were detected.