UPDATE 1-Brazil's OSX posts $1.07 billion net loss for 2013

miércoles 16 de abril de 2014 20:21 GYT

(Adds net sales)

BRASILIA, April 16 (Reuters) - OSX Brasil SA, the bankrupt shipbuilder controlled by former Brazilian billionaire Eike Batista, posted a net loss of 2.4 billion reais ($1.07 billion) in 2013, the company said in a securities filing on Wednesday.

OSX reported a net loss of 32.7 million reais the year before.

Earnings before interest, taxes, depreciation and amortization, a gauge of cash generation known as EBITDA, was a negative 2.26 billion reais in 2013 compared with 40.2 million reais a year earlier, the company said.

Net sales, or total sales minus sales taxes, grew to 745.1 million reais in 2013, a 71.8 percent increase over the previous year, the company said. OSX ended 2013 with a consolidated debt of 5.03 billion reais, of which 85.2 percent in short term debt.

OSX filed for bankruptcy protection in November, another step in the decline of Batista's empire, seeking to restructure a debt burden of 5.34 billion reais at the time.

It was Batista's second company to file for bankruptcy in Brazil's biggest corporate meltdown. His oil producer, OGX Petróleo e Gas Participações SA, the flagship of his EBX Group of energy, mining and logistics companies, had sought protection from creditors just days before. ($1 = 2.2388 reais) (Reporting by Anthony Boadle. Editing by Andre Grenon and Lisa Shumaker)