Financial Statements (in thousands of R$)
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|
|
|
|
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Gross Sales |
14.934.408 |
17,642,563 |
16,460,296 |
16,120,963 |
15,297,446 |
12,788,363 |
11,154,079 |
Net Sales |
12.890.429 |
14,902,887 |
13,880,403 |
13,413,396 |
12,565,017 |
10,806,339 |
9,454,669 |
Cost of Sales |
(9.482.036) |
(10,724,499) |
(9,908,620) |
(9,438,126) |
(8,891,475) |
(7,764,257) |
(6,809,588) |
Gross Profit |
3.408.393 |
4,178,388 |
3,971,783 |
3,975,270 |
3,673,542 |
3,042,082 |
2,645,081 |
% of Net Sales |
26,4% |
28.0% |
28.6% |
29.6% |
29.2% |
28.2% |
28.0% |
Selling Expenses |
(1.998.350) |
(2,552,453) |
(2,389,834) |
(2,300,026) |
(2,160,681) |
(1,709,360) |
(1,513,825) |
% of Net Sales |
-15,5% |
-17.1% |
-17.2% |
-17.1% |
-17.2% |
-15.8% |
-16.0% |
General and
Administrative Expenses |
(368.264) |
(500,347) |
(499,341) |
(505,652) |
(468,722) |
(430,999) |
(350,066) |
% of Net Sales |
-2,9% |
-3.4% |
-3.6% |
-3.8% |
-3.7% |
-4.0% |
-3.7% |
Taxes and charges |
(80.109) |
(99,575) |
(84,923) |
(63,150) |
(60,767) |
(43,153) |
(71,456) |
% of Net Sales |
-0,6% |
-0.7% |
-0.6% |
-0.5% |
-0.5% |
-0.4% |
-0.8% |
Total Operating Expenses |
(2.446.723) |
(3,152,374) |
(2,974,098) |
(2,868,828) |
(2,690,170) |
(2,183,512) |
(1,935,347) |
% of Net Sales |
-19,0% |
-21.2% |
-21.4% |
-21.4% |
-21.4% |
-20.2% |
-20.5% |
EBITDA |
961.670 |
1,026,013 |
997,685 |
1,106,442 |
983,372 |
858,570 |
709,734 |
EBITDA Margin (%) |
7,5% |
6.9% |
7.2% |
8.2% |
7.8% |
7.9% |
7.5% |
Depreciation |
(325.115) |
(385,027) |
(364,487) |
(446,182) |
(365,352) |
(335,008) |
(273,081) |
% of Net Sales |
-2,5% |
-2.6% |
-2.6% |
-3.3% |
-2.9% |
-3.1% |
-2.9% |
Amortization of the
Deferred Assets |
(120.463) |
(165,669) |
(183,456) |
(179,099) |
(124,217) |
(119,366) |
(140,536) |
% of Net Sales |
-0,9% |
-1.1% |
-1.3% |
-1.3% |
-1.0% |
-1.1% |
-1.5% |
EBIT |
516.092 |
475,317 |
449,742 |
481,161 |
493,803 |
404,196 |
296,117 |
EBIT Margin (%) |
4,0% |
3.2% |
3.2% |
3.6% |
3.9% |
3.7% |
3.1% |
Financial Expense |
(430.531) |
(555,578) |
(560,962) |
(683,547) |
(618,268) |
(755,586) |
(583,827) |
Financial Income |
201.900 |
344,413 |
382,761 |
446,698 |
330,264 |
575,258 |
438,788 |
Exchange Variation |
|
- |
- |
- |
|
(4,478) |
(17,910) |
Net Financial
Income (Loss) |
-228.631 |
(211,165) |
(178,201) |
(236,849) |
(288,004) |
(184,806) |
(162,949) |
% of Net Sales |
-1,8% |
-1.4% |
-1.3% |
-1.8% |
-2.3% |
-1.7% |
-1.7% |
Equity Income |
2.392 |
-28,923 |
(53,197) |
(16,190) |
5,307 |
(8,835) |
(10,357) |
Non-Operating Results |
(5.355) |
(9,084) |
(323,229) |
32,131 |
80,278 |
5,267 |
4,480 |
Income Tax |
(79.407) |
(11,404) |
(20,981) |
(52,994) |
49,544 |
9,723 |
117,831 |
Minority Shares |
2.229 |
9,536 |
358,972 |
64,184 |
43,219 |
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Employed's Profit Sharing |
(11.061) |
(13,399) |
(13,421) |
(14,453) |
(14,317) |
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Net Income |
196.259 |
210,878 |
219,685 |
256,990 |
369,830 |
225,545 |
245,122 |
Net Income per Share |
0,83 |
0.93 |
1.93 |
2.26 |
3.26 |
1.99 |
2.17 |
Number of Shares |
235.249 |
227,919 |
113,771,378 |
113,667,915 |
113,522,239 |
113,442,239 |
113,186,139 |
Share Price |
33,00 |
34.11 |
74.75 |
76.9 |
68.7 |
70.4 |
54.5 |
Market Value (thousand) |
7.763.217 |
7,774,317 |
8,504,411 |
8,741,063 |
7,798,978 |
7,986,334 |
6,168,645 |
1pro-forma
Balance Sheet
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2004(*) |
2003(*) |
2002(*) |
2001(*) |
| Current Assets |
5,243,208 |
5,009,132 |
4,878,416 |
4,910,375 |
4,266,462 |
3,220,132 |
3,733,022 |
2,886,731 |
| Cash and Banks |
1,437,324 |
1,064,132 |
1,281,511 |
1,710,837 |
1,179,470 |
981,913 |
1,135,158 |
1,048,089 |
| Inventories |
1,514,993 |
1,534,242 |
1,231,963 |
1,115,286 |
1,089,648 |
943,634 |
980,794 |
686,103 |
| Receivables |
500,669 |
536,867 |
378,826 |
396,392 |
497,634 |
603,986 |
1,087,891 |
975,587 |
| Other |
1,790,222 |
1,873,893 |
1,986,116 |
1,687,860 |
1,499,710 |
690,599 |
529,179 |
176,952 |
| Long-Term Receivables |
2,079,055 |
2,053,777 |
1,766,034 |
943,576 |
1,015,515 |
837,658 |
667,610 |
411,956 |
| Property and Equipment |
4,812,632 |
4,820,179 |
4,241,040 |
3,861,714 |
4,425,445 |
3,986,044 |
3,741,504 |
3,006,413 |
| Investments |
113,379 |
110,987 |
79,557 |
227,632 |
263,621 |
241,068 |
271,088 |
123,884 |
| Deferred Charges |
68,680 |
77,177 |
76,281 |
979,915 |
1,069,174 |
655,002 |
774,466 |
852,155 |
| Intangible |
631,744 |
674,852 |
630,945 |
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| Goodwill |
- |
- |
- |
918,224 |
1,027,691 |
592,609 |
669,254 |
677,088 |
| Pre-Operating Expenses |
- |
- |
- |
61,691 |
41,483 |
62,393 |
100,734 |
152,679 |
| Exchange Variation |
- |
- |
|
- |
- |
- |
4,478 |
22,388 |
| Total Assets |
12,948,698 |
12,746,106 |
11,672,273 |
10,923,212 |
11,040,217 |
8,939,904 |
9,187,690 |
7,281,139 |
| Current Liabilities |
2,761,210 |
4,352,714 |
3,823,909 |
2,569,431 |
3,248,421 |
2,853,957 |
3,229,408 |
2,380,520 |
| Suppliers |
1,819,037 |
2,324,975 |
2,027,268 |
1,654,234 |
1,545,449 |
1,190,217 |
1,409,616 |
813,525 |
| Short Term Financing |
380,464 |
615,227 |
800,221 |
422,614 |
1,234,898 |
1,326,733 |
1,486,120 |
1,241,594 |
| Recallable Fund Quotas (FIDC) CP |
- |
823,802 |
71,100 |
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| Short Term Debentures |
8,573 |
27,881 |
414,761 |
17,979 |
69,416 |
61,024 |
79,991 |
12,984 |
| Short Payable on Purchase of Assets |
28,707 |
15,978 |
44,366 |
24,989 |
12,636 |
8,263 |
6,237 |
35,207 |
| Short Term Other |
524,429 |
|
466,193 |
449,615 |
386,022 |
267,720 |
247,444 |
277,210 |
| Long-Term Financing |
1,450,309 |
919,294 |
719,128 |
1,213,838 |
875,911 |
639,659 |
873,416 |
734,079 |
| Recallable Fund Quotas (FIDC) LP |
899,500 |
- |
663,024 |
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| Long-Term Debentures |
779,650 |
779,650 |
- |
401,490 |
524,553 |
441,413 |
476,258 |
124,141 |
| Long-Term Payable on Purchase of Assets |
- |
- |
- |
0 |
3,105 |
2,962 |
2,748 |
27,217 |
| Long-Term Provision for Contingencies |
1,230,773 |
1,216,189 |
1,209,463 |
1,076,911 |
922,324 |
1,134,251 |
988,991 |
611,159 |
| Long-Term Other |
291,013 |
|
286,206 |
1,121,783 |
1,063,342 |
99,240 |
24,829 |
133 |
| Minority Shares |
105,300 |
137,818 |
128,416 |
287,387 |
351,571 |
- |
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| Shareholder's Equity |
5,430,943 |
5,011,992 |
4,842,127 |
4,252,372 |
4,050,990 |
3,768,422 |
3,592,040 |
3,403,890 |
| Total Liabilities and Shareholder's Equity |
12,948,698 |
12,746,106 |
11,672,273 |
10,923,212 |
11,040,217 |
8,939,904 |
9,187,690 |
7,281,139 |
Click in (*) to see the quarter figures.
EBITDA
= Earnings Before Interest, Tax, Depreciation and Amortization.
EBIT = Earnings Before Interest and Tax. |