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04.29.08
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Record-breaking disbursements reach R$70.2 billion in 12 months
In the last 12 months, ended in March, BNDES’ performance was the best ever seen in its history. Disbursements totaled R$ 70.2 billion, a 24% swell as compared to the same previous period, while approvals reached R$ 102.6 billion, 22% higher making the same comparison.
The demand for BNDES’ funds stands for the growing economic investments, chiefly pulled by the increased domestic market. The 16% swell of Gross Fixed Capital Formation in the last quarter of 2007, linked to the increasing demand for capital goods, significantly impacted Finame (Financing of Machine and Equipment).
In the 12-month period ended in March 2008, BNDES financing for machine and equipment presented the greatest expansion ever seen. A 57% rise was seen as compared to the same previous period, totaling R$ 22 billion disbursements.
Infrastructure – The infrastructure business performance is at full speed. Disbursements rose by 65%, amounting to R$ 27.7 billion between April 2007 and March 2008, accounting for 40% of the total amount released by BNDES in the period.
Approvals almost two-folded to R$ 43.8 billion, with a 61% rise in the period at hand, pointing out that the disbursements over the year will keep on growing to a good extent, due to energy and road transport demands.
Industry – Industry disbursements, for the last 12 months ended in March, amounted to R$ 28.5 billion, corresponding to 41% of the total amount released by BNDES in that period. Approvals, representing R$ 44.4 billion, correspond to 43% of the amount approved between April 2007 and March 2008.
The 5% slump on releases, up to March as compared to the same previous period, is still negatively influenced by exports. Excluding BNDES-Exim statistics, disbursements for the industry grew 20.3% and approvals were 43% higher than the previous results.
An industry performance analysis made by BNDES, up to March, shows that loans are less single-oriented. As opposed to infrastructure, the primary industry demands are spread through transport material, metalworking, mechanics, food and beverages, and mainly chemistry and petrochemistry.
Disbursements had a R$ 64% rise, as compared to the same previous period, reaching R$ 4.9 million, while approvals reached R$ 6.4 billion, 18% higher, making the same comparison. Burgeoning investments on chemistry and petrochemistry first and second generation outputs explain the growing demand for BNDES' funds.
As the domestic market resumed its growth and demand for plastic resins and second generation petrochemicals heated up, the installed capacity rate on plants has risen. This process encouraged investments in the slash of bottlenecks and capacity expansion, primarily with new sources of raw material, especially refining gases and natural gas.
Forthcoming capacity expansions, investments on technology improvements will be critical, as they will support the new projects disclosed, by using heavy oil in Complexo Petroquímico do Rio de Janeiro (Rio de Janeiro Petrochemical Center - Comperj) and ethanol in biorefineries.
Quarterly result – In the first quarter of 2008, BNDES released R$ 16.5 billion – a 47% increase as compared to the period of January to March 2007 – and approved R$ 21.7 billion, a 22% rise, making the same comparison. The chemical and petrochemical sector also outperformed in the first quarter of the year. Releases for that area totaled R$ 1.2 billion (a 126% increase) and approvals, R$ 960 million (a 33% rise).
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