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Financial Statements
|
2003 |
| (in thousand
of R$) |
4th Q |
3rd Q |
2nd Q |
1st Q |
| Gross Sales |
3,541,194 |
2,989,067 |
3,153,278 |
3,104,824 |
| Net Sales |
2,990,511 |
2,522,701 |
2,662,281 |
2,630,846 |
| Cost of Sales |
(2,178,852) |
(1,797,261) |
(1,899,576) |
(1,888,568) |
| Gross Profit |
811,659 |
725,440 |
762,705 |
742,278 |
| % of Net Sales |
27.1% |
28.8% |
28.6% |
28.2% |
| Selling Expenses |
(438,183) |
(412,176) |
(432,895) |
(426,106) |
| % of Net Sales |
-14.7% |
-16.3% |
-16.3% |
-16.2% |
| General and Administrative Expenses |
(108,810) |
(107,211) |
(108,388) |
(106,590) |
| Taxes and charges |
-3.6% |
-4.2% |
-4.1% |
-4.1% |
| % of Net Sales |
(10,942) |
(10,741) |
(10,918) |
(10,552) |
| Total Operating Expenses |
-0.4% |
-0.4% |
-0.4% |
-0.4% |
| % of Net Sales |
(557,935) |
(530,128) |
(552,201) |
(543,248) |
| EBITDA |
-18.7% |
-21.0% |
-20.7% |
-20.6% |
| EBITDA Margin (%) |
253,724 |
195,312 |
210,504 |
199,030 |
| Depreciation |
8.5% |
7.7% |
7.9% |
7.6% |
| % of Net Sales |
(92,213) |
(83,786) |
(80,781) |
(78,228) |
| Amortization of the Deferred Assets |
-3.1% |
-3.3% |
-3.0% |
-3.0% |
| % of Net Sales |
(41,836) |
(32,180) |
(23,966) |
(21,384) |
| EBIT |
-1.4% |
-1.3% |
-0.9% |
-0.8% |
| EBIT Margin (%) |
119,675 |
79,346 |
105,757 |
99,418 |
| Taxes and Charges |
4.0% |
3.1% |
4.0% |
3.8% |
| Financial Expense |
(158,079) |
(185,754) |
(201,162) |
(210,591) |
| Financial Income |
141,895 |
140,319 |
143,300 |
149,744 |
| Exchange Variation |
- |
- |
- |
(4,478) |
| Net Financial
Income (Loss) |
(16,184) |
(45,435) |
(57,862) |
(65,325) |
| % of Net Sales |
-0.5% |
-1.8% |
-2.2% |
-2.5% |
| Equity Income |
(4,884) |
(1,364) |
(1,619) |
(969) |
| Non-Operating Results |
(2,890) |
4,514 |
2,370 |
1,273 |
| Income Tax |
(19,607) |
15,022 |
8,081 |
6,227 |
| Minority Shares |
- |
- |
- |
- |
| Employed's Profit Sharing |
- |
- |
- |
- |
| Net Income |
76,110 |
52,083 |
56,727 |
41,593 |
| Net Income per Share |
0.67 |
0.46 |
0.50 |
0.37 |
| Number of Shares |
113,442,239 |
113,186,139 |
113,186,139 |
113,186,139 |
| Share Price |
70.4 |
53.5 |
43.9 |
42.7 |
| Market Value (thousand) |
7,986,334 |
6,055,458 |
4,968,872 |
4,833,048 |
| Balance Sheet |
2003 |
| (in thousand
of R$) |
4th Q |
3rd Q |
2nd Q |
1st Q |
| Current Assets |
3,220,132 |
2,968,511 |
3,087,662 |
3,360,961 |
| Cash and Banks |
981,913 |
687,543 |
982,113 |
1,002,248 |
| Inventories |
943,634 |
811,796 |
762,388 |
942,579 |
| Receivables |
603,986 |
868,616 |
814,661 |
898,140 |
| Other |
690,599 |
600,556 |
528,480 |
517,994 |
| Long-Term Receivables |
837,658 |
723,914 |
691,075 |
673,852 |
| Property and Equipment |
3,986,044 |
3,868,966 |
3,786,018 |
3,765,693 |
| Investments |
241,068 |
255,176 |
263,233 |
268,974 |
| Deferred Charges |
655,002 |
694,458 |
724,638 |
748,604 |
| Goodwill |
592,609 |
622,503 |
643,116 |
657,515 |
| Pre-Operating Expenses |
62,393 |
71,955 |
81,522 |
91,089 |
| Exchange Variation |
- |
- |
0 |
- |
| Total Assets |
8,939,904 |
8,511,025 |
8,552,626 |
8,818,084 |
| Current Liabilities |
2,853,957 |
2,596,965 |
2,796,348 |
2,961,304 |
| Suppliers |
1,190,217 |
838,640 |
745,020 |
1,000,975 |
| Short Term Financing |
1,326,733 |
1,489,172 |
1,740,722 |
1,614,115 |
| Short Term Debentures |
61,024 |
39,419 |
91,733 |
63,074 |
| Short Payable on Purchase of
Assets |
8,263 |
8,923 |
1,269 |
4,026 |
| Short Term Other |
267,720 |
220,811 |
217,604 |
279,114 |
| Long-Term Financing |
639,659 |
555,086 |
479,649 |
702,200 |
| Long-Term Debentures |
441,413 |
440,860 |
478,690 |
477,359 |
| Long-Term Payable on Purchase
of Assets |
2,962 |
2,919 |
2,861 |
2,803 |
| Long-Term Provision for Contingencies |
1,134,251 |
1,074,638 |
1,003,407 |
934,520 |
| Long-Term Other |
99,240 |
99,083 |
102,280 |
107,234 |
| Shareholder's Equity |
3,768,422 |
3,741,474 |
3,689,391 |
3,632,664 |
| Total Liabilities
and Shareholder's Equity |
8,939,904 |
8,511,025 |
8,552,626 |
8,818,084 |
EBITDA = Earnings Before Interest, Tax, Depreciation and Amortization.
EBIT = Earnings Before Interest and Tax.
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