Petrobras tops ranking of Latin America’s 500 largest companies

8 July 2010

Sao Paulo, Brazil, 8 July – Brazilian state oil company Petrobras is first on the list of Latin America’s 500 largest companies, according to the July edition of AméricaEconomia magazine.

With total sales of over US$104 billion in 2009, the Brazilian state company rose by two places, overtaking Venezuela’s PDVSA and Mexico’s Pemex, which had been at the top of the list since 1990 when the study first began.

The second best placed Brazilian company is also one of the group of companies that makes up Petrobras. It is Petrobras Distribuidora, which increased its net profit by 52.3 percent last year, which took the company into fifth place on the list.

Two places further down is mining company Vale, which despite posting a drop in sales of US$2 billion in 2009, managed to place seventh, after Mexico’s América Móvil, of the group of mobile telephone operators owned by Carlos Slim.

Of the total companies listed, 226 are Brazilian groups or foreign groups with activities in Brazil.

Amongst them are, along with Petrobras, Petrobras Distribuidora and Vale, Ultrapar (8th), Odebrecht 810th), JBS-Friboi (11th), Telemar (14th), the Votorantim group (16th), Eletrobras (17th) and Gerdau (18th).

The list looks at the companies’ net sales in dollars, increase in sales, net profit, total assets, net worth and total exports. (macauhub)