Financial Analysis - Pemex

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FinancialAnalysisDuring 2007, total sales, including revenues from services,increased by 3% with respect to the previous year, totaling1,136 billion pesos. Domestic sales were 592.0 billionpesos, 4% more than those recorded in 2006, while exportsales totaled 542.9 billion pesos, a 2% increase comparedto the previous year. The aforementioned was primarilydue to an increase in the weighted average export priceof the Mexican crude oil basket.During 2007, cost of sales increased by 10% as comparedto 2006, totaling 460.7 billion pesos. The variation wasprimarily the result of an increase in product purchasesand an increase in depreciation and amortization due togreater investments.N O M B R E I N F O R M ED O S P I S O S ‘ 0727Gross profit totaled 675.4 billion pesos, a 1% decreasecompared to the figure recorded in 2006.
water injection plant,Poza Rica, VeR.2 8F I N A N C I A LA N A LY S I SPAPÁN WELL , VERACRUZ BASINDuring 2007, general expenses totaled 84.9 billion pesos,primarily due to a 7% or 4.1 billion pesos increase inadministrative expenses, with respect to the previousyear. This increase was primarily due to higher cost ofthe reserve for retirement payments.Operating income totaled 590.4 billion pesos, 2% lowerthan 2006. The decrease was primarily due to an increasein the cost of sales of 42.4 billion pesos.The comprehensive financing result decreased by 16%or 3.8 billion pesos, as compared to 2006, totaling 20.0billion pesos. Other net revenues (expenses) increased,from 61.2 billion to 83.0 billion pesos, primarily, as a resultof greater IEPS credit.Income before taxes and duties was 658.9 billion pesos,1% higher than the 651.7 billion pesos recorded in 2006.The variation is caused by the combined effect of a 21.8billion pesos increase in other net revenues (expenses)and a 13.8 billion pesos decrease in operating income.During 2007, the amount of taxes and duties increased by12%, with respect to the previous year, from 604.8 billionto 677.3 billion pesos, due to higher prices of crude oiland gas and the fact that the costs of Pemex - Explorationand Production surpassed the cost-cap of the OrdinaryHydrocarbons Duty.In 2007, PEMEX reported a net loss of 18.3 billion pesos,compared to a net income of 47.0 billion pesos recorded
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Financial Analysis - Pemex

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