Emilio has 25 years of CFO experience in Europe and Latin America. An expert in cross-border M&A, he has executed two $300+ million acquisitions and one $400+ million disposal. Emilio has worked on strategic reorganization projects and started subsidiaries in the oil and gas, automotive and industrial sectors. He enjoys freelancing to use his experience and international exposure to maximize value for his clients.
Structured an oil trading contract to secure a 3-year oil contract and diluent supply. Negotiated contracts for the sourcing of diluent and the export of oil.
Controlled capital expenditures for the development of the Block 67 oil license, a $1.5 billion, 5-year investment project. Funds were used to develop oil and gas infrastructure in the Block 67 oilfield.
Set up the tax optimization for contractors, totaling savings of $40+ million.
Led negotiations with local banks to sell $300+ million in bonds in the Lima stock market in order to minimize country risk and maximize tax savings.
Negotiated changes to an oil license contract with the Peruvian government in order to increase the contract profitability. Profit increases of $30+ million were achieved during the 20-year oil contract.
Led the transition of Perenco-operated oil fields from private companies to joint ventures with the state-owned oil company, PDVSA.
Negotiated the terms of the oil and gas license contract in the new joint venture. Agreed on clauses to the new contract, which had a favorable impact of $25+ million.
Led the settlement of tax claims in corporate income taxes, reducing tax liability from $45 million to $5 million.
Restructured the finance, purchasing, and human resources teams to optimize processes. Set up new processes to decrease working capital; accounts receivable decreased by $12.5 million, inventories by $5 million.
Traded on foreign currency exchange operations to optimize foreign exchange fluctuations exposure in the company; achieved over $20+ million in savings.
Marketed and traded the crude oil produced. Negotiated oil spot cargos and long-term oil sale agreements with US refineries, achieving 15% price increases in the oil differential versus previous year contracts.
Created joint ventures with other petroleum companies for commercialization of asphalt in Central America.
Reduced accounts receivable by $10+ million in the asphalt division.
Won a $10 million arbitration litigation against an asphalt client.
Settled a lengthy $500+ million claim from a supplier in our favor.
Led the $50+ million disposal of a subsidiary in Spain, which involved marketing the subsidiary and putting together the sale and purchase agreement as well as the final completion statement to reconcile the interim period between the economic date and the closing date.
Optimized cash in the region with lease-back agreements on buildings and IT assets worth $20+ million.
Restructured short-term debt to long-term with intense bank negotiations. Followed up on the outstanding debt of corporate bonds (Oceans) in the French stock market and renegotiated terms to avoid bankruptcy.
Supervised 8 subsidiary CFOs, providing training and long-term career development.
Negotiated with minority shareholders to buy their stake in one of the subsidiaries in a transaction worth $10+ million.
Focus areas: Capital Raising, Disposal, Mergers & Acquisitions (M&A)
1999 - 2002
Achieved a working capital reduction of EUR 18 million in one year, contributing to a record yearly operating cash of EUR 21 million.
Negotiated annual savings of EUR 25 million in the purchasing department.
Recovered bad debts by renegotiating the arbitrary debit notes made by Volkswagen for a total amount of $1 million.
Carried out an in-depth revision of the workflow procedures in the finance department to increase team productivity.
Reduced bad debts in the Brazilian subsidiary by $4 million by creating an ad hoc team of three people to finalize collections. The ad hoc team was subsequently put in charge of cost reductions.
A decidedly less sexy, albeit critical, part of a CFO’s job description is working capital management and optimization. There are countless examples of companies that are forced to incur unnecessary debt and other financial obligations to meet their short-term financing needs, when in fact ample cash is sitting idly stuck in working capital.
But working capital optimization is hard to get right and often requires significant cross-functional efforts to execute effectively. In this article, Toptal Finance Expert Emilio Labrador draws on 25 years of professional experience across multiple industries to outline some of his main suggestions and approaches on how to tackle working capital management projects.
Latin America boasts great investment opportunities with attractive risk levels, higher returns than home markets, and access to a large population base with growing income. However, Latin American acquisitions require special attention and include a number of difficulties unique to the region.
This article provides insights gleaned from Finance Expert Emilio Labrador's 15 years of experience in Latin American oil and gas M&A. It provides practical tips for foreign acquirers considering investments in Latin America, on topics ranging from risk premiums in valuation, accounting due diligence, and legal considerations.
Certified MBA (CMBA) in International Business
1988 - 1991
ESCP-EAP European School of Management - Oxford, United Kingdom