Revenues were largely up through the region, but Brazilian companies saw particularly steep drops in profits.
The top three spaces in our list of Latin America’s Top 500 companies are dominated by the energy industry: Brazil’s Petrobras, Mexico’s Pemex, and Venezuela’s PDVSA lead the region as the only companies with revenues exceeding $100 billion.
These companies by and large saw significant revenue growth in 2012, with Colombia’s Terpel seeing revenues increase by a third, and U.S.-based Halliburton up by nearly a quarter. In profits, Mexico’s Pemex led the way, with profits more than doubling. Brazil’s AlesatCombustíveis also did well. But despite strong revenue growth, some companies continued to see steep declines in profits: Brazil’s Electronorte saw profits decline 1,262 percent, while that country’s Furnas saw profits down 566.9 percent. Petrobras saw profits down 41.6 percent – a steep decline when they still registered over $10 billion in profits. The country’s Electrobrás also saw profits down 269.2 percent.
Latin America’s Top 50 Energy Companies
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