Despite record losses at Correios, federal state-owned companies have higher profits in 2025
The government announced this Thursday (2) that the group of federal state-owned companies recorded a net profit of R$ 169.4 billion in 2025.
Petrobras was responsible, alone, for 65% of the profit of federal state-owned companies in 2025
Fernando Frazão/Agência Brasil
The financial statement was released by the Ministry of Management. In total, there are 44 public companies or mixed-economy companies controlled by the Brazilian government.
The value exceeds by 45.4% the profit recorded by public companies in 2024. The number is driven mainly by Petrobras - the oil company is responsible for R$110.6 billion of profits, around 65% of the total result.
In addition to Petrobras, BNDES also stood out, with a profit of R$25.6 billion, and the Banco do Brasil, with R$17.8 billion. Together, the three state-owned companies accounted for 90.9% of the profits.
On the other hand, Correios recorded a record loss last year, of R$8.5 billion. (see below)
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Despite the positive result, the total profit of state-owned companies is lower than that recorded in 2021, 2022 and 2023. See the numbers:
2021: R$187.5 billion
2022: R$275.1 billion
2023: R$197.9 billion
2024: R$ 116.5 billion
2025: R$ 169.4 billion
Correios Crisis
The loss of R$ 8.5 billion recorded by Correios in 2025 was the largest in the state-owned company's historical series and more than three times higher than the loss of R$ 2.4 billion recorded in 2024. With the result, the company reached 14 consecutive quarters in the red.
Correios releases balance sheet for the year past
The worsening of the state-owned company's accounts was driven by the drop in revenue from international orders and the increase in expenses, mainly with court orders and personnel costs. In 2025, general and administrative expenses grew 37%, while revenue from services fell 12%.
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To try to reverse the situation, the state-owned company announced measures such as a voluntary dismissal program (PDV), sale of properties, review of contracts and signed a R$12 billion loan guaranteed by the Union.
Even so, the scenario continued to deteriorate. In the first quarter of 2026, the state-owned company recorded a loss of R$3.1 billion, 82% greater than that of the same period of the previous year, and is already predicting an even worse result at the end of this year.
Source: G1