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Bunge Ltd. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: May 7, 2012 06:19AM

Bunge Ltd. (BG) filed Quarterly Report for the period ended 2012-03-31. Bunge Ltd has a market cap of $9.57 billion; its shares were traded at around $64.51 with a P/E ratio of 13.2 and P/S ratio of 0.2. The dividend yield of Bunge Ltd stocks is 1.5%.



Highlight of Business Operations:

Interest earned on secured advances to suppliers of $8 million and $7 million for the three months ended March 31, 2012 and 2011, respectively, is included in net sales in the condensed consolidated statements of income.

As of March 31, 2012, $729 million of receivables sold under the Program were derecognized from Bunge’s condensed consolidated balance sheet. Proceeds received in cash related to transfers of receivables under the program totaled $3,240 million for the three months ended March 31, 2012. In addition, cash collections from customers on receivables previously sold were $3,549 million for the three months ended March 31, 2012. As this is a revolving facility, cash collections from customers are reinvested to fund new receivable sales. Gross receivables sold under the program for the three months ended March 31, 2012 were $3,466 million. These sales resulted in a discount of $2 million. Servicing fees under the program were not significant. Since the program was launched in the second quarter of 2011, there is no comparable activity for the first quarter of 2011.

Sugar and Bioenergy Segment. Sugar and Bioenergy segment net sales decreased 17% when compared to the first quarter of 2011 primarily due to lower average sugar and ethanol prices compared to last year and a 7% decrease in volumes. Higher sales volumes in our industrial business were more than offset by lower volumes in our sugar merchandising business.

Other income (expenses)-net was a loss of $3 million in the first quarter of 2012 compared to a loss of $1 million in the same quarter of 2011 primarily due to lower equity in earnings of affiliates in our North American bioenergy investments.

Interest earned on secured advances to suppliers of $8 million and $7 million for the three months ended March 31, 2012 and 2011, respectively, is included in net sales in the condensed consolidated statements of income.

Read the The complete Report



Stocks Discussed: BG,
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