CURITIBA, Brazil, Jan. 26 /PRNewswire-FirstCall/ -- ALL's consolidated volumes increased 16.3% in 4Q08, from 8,688 million RTK in 4Q07 to 10,100 million RTK, mainly driven by (i) a favorable market in 4Q as part of the unusually high inventories -- accumulated by farmers during 3Q08 -- shipped to the ports, (ii) market share gains in the agricultural segment and (iii) a strong volume increase in Argentina, maintaining the good performance of the previous quarter.
With a strong growth in the fourth quarter, full-year consolidated volumes increased 10.8% to 38,204 million RTK, slightly below the 12-14% guidance. Deviation from the guidance (which represents four average days of carloads) reflects a weak 3Q08, when farmers decided to build up inventories, waiting for better commodity prices and exchange rates, not fully compensated by the ramp up in agricultural exports in 4Q08, especially in the last 10 days of December due to the holidays. In Brazil, full-year volumes increased 11.7%, nearly reaching the guidance, while Argentina volumes increased only 4.6%, due to 90 days of interruptions as farmers protested against increases in export taxes in the 1H08.
Consolidated EBITDA grew 17.7% in 4Q08, from R$188.8 million in 4Q07 to R$222.3 million, mainly driven by volume growth, take-or-pay revenues for underperformed volumes and a good performance in ALL Argentina. In 2008, we maintained our trend of solid two-digit EBITDA growth, to R$1,080 million increasing 23.8% as compared to 2007.
Perspectives for 2009:
Preparation for 2009 is well under way. Thirty-five locomotives, more than six hundred rail cars were added to our rolling stock fleet and permanent improvements are as scheduled.
Full information is available on ALL's IR website: http://www.all-logistica.com/ir
For additional information, please contact ALL's Investor Relations Area:
Rodrigo Campos, +55 (41) 2141-7459,
