Company: PBR
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001292814-25-001352
Chunk: 136

Company: PETROBRAS - PETROLEO BRASILEIRO SA
Filing Date: 2025-04-03
Form: 20-F
Item: Item 17
Chunk 136
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 standards.                                              Our CEO will promptly notify the NYSE in writing if any executive officer becomes aware of any material noncompliance with any applicable provisions of the NYSE corporate governance rules.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  

Annual Report and Form 20-F 2024 |
<{self.tag} alt="{self.alt}" src="{self.src}">Consolidated Financial Performance
 
We achieved a net income of US$7,528 million, cash provided by operating activities of US$37,984 million, a Free Cash Flow (a non-GAAP measure defined in Liquidity and Capital Resources – Free Cash Flow) of US$23,318 million and an Adjusted EBITDA (a non-GAAP measure defined in Liquidity and Capital Resources – Adjusted EBITDA and Net Debt/Adjusted EBITDA ratio) of US$40,399 million.
 Net income attributable to shareholders was US$7,528 million in 2024, a 69.7% decrease compared to US$24,884 million in 2023, mainly due to the exchange rate variation of debts between Petrobras and its overseas subsidiaries, an accounting effect that does not have an impact on our cash position. The exchange rate variation in these transactions is reflected in the net income of the holding company in Brazil.
 Fluctuations in our financial condition and results of operations are driven by a combination of factors, including:
 
–                                    the                                  
    volume of crude oil, oil products and natural gas we produce and sell;
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–                                         changes                                       
    in international prices of crude oil and oil products (denominated in U.S. dollars);
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–                              changes                            
    in the domestic prices of oil products (denominated in reais);
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–                                             fluctuations                                         
    in the real vs. U.S. dollar exchange rates and other currencies, as disclosed in Note 33.4.1(c)
                           to our audited consolidated financial statements;                       
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–                  the                
    demand for oil products in Brazil;
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–                                  the                                
    recoverable amounts of assets for impairment testing purposes; and
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–                                       the                                    
    amount of production taxes from our operations that we are required to pay.
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Annual Report and Form 20-F 2024 |
CONSOLIDATED STATEMENT OF INCOME INFORMATION (US$ million)
 
                                                     As                   
                                                  reported                
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                                              Jan-Dec            Variation
2024                                             2023          ▲         ▲
                                                                       (%)
Sales                               91