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Financial Statements
|
2006 |
| |
4th Q1 |
3rd Q1 |
2nd Q |
1st Q |
| Gross Sales |
4,643,655 |
3,914,612 |
3,977,301 |
3,924,728 |
| Net Sales |
3,943,231 |
3,298,910 |
3,333,295 |
3,304,967 |
| Cost of Sales |
(2,852,519) |
(2,374,180) |
(2,362,233) |
(2,322,095) |
| Gross Profit |
1,090,712 |
924,730 |
971,062 |
982,872 |
| % of Net Sales |
27.7% |
28.0% |
29.1% |
29.7% |
| Selling Expenses |
(649,180) |
(573,643) |
(591,646) |
(587,904) |
| % of Net Sales |
-16.5% |
-17.4% |
-17.7% |
-17.8% |
| General and Administrative Expenses |
(159,310) |
(117,385) |
(117,927) |
(117,119) |
| Taxes and charges |
-4.0% |
-3.6% |
-3.5% |
-3.5% |
| % of Net Sales |
(21,430) |
(25,348) |
(19,758) |
(18,387) |
| Total Operating Expenses |
-0.5% |
-0.8% |
-0.6% |
-0.6% |
| % of Net Sales |
(829,920) |
(716,376) |
(729,331) |
(723,410) |
| EBITDA |
-21.0% |
-21.7% |
-21.9% |
-21.9% |
| EBITDA Margin (%) |
260,792 |
208,354 |
241,731 |
259,462 |
| Depreciation |
6.6% |
6.3% |
7.3% |
7.9% |
| % of Net Sales |
(76,355) |
(95,837) |
(99,213) |
(93,082) |
| Amortization of the Deferred Assets |
-1.9% |
-2.9% |
-3.0% |
-2.8% |
| % of Net Sales |
(83,454) |
(39,964) |
(32,971) |
(27,067) |
| EBIT |
-2.1% |
-1.2% |
-1.0% |
-0.8% |
| EBIT Margin (%) |
100,983 |
72,553 |
109,547 |
139,313 |
| Taxes and Charges |
2.6% |
2.2% |
3.3% |
4.2% |
| Financial Expense |
(123,230) |
(116,453) |
(152,108) |
(169,171) |
| Financial Income |
106,588 |
79,742 |
94,458 |
101,973 |
| Exchange Variation |
- |
- |
- |
- |
| Net Financial
Income (Loss) |
(16,642) |
(36,711) |
(57,650) |
(67,198) |
| % of Net Sales |
-0.4% |
-1.1% |
-1.7% |
-2.0% |
| Equity Income |
(11,302) |
(14,963) |
(12,150) |
(14,782) |
| Non-Operating Results |
(300,444) |
(12,647) |
(17,424) |
7,286 |
| Income Tax |
(726) |
2,024 |
(4,845) |
(17,434) |
| Minority Shares |
292,233 |
24,230 |
26,523 |
15,986 |
| Employed's Profit Sharing |
(4,421) |
(3,000) |
(3,000) |
(3,000) |
| Net Income |
59,681 |
31,486 |
41,001 |
60,171 |
| Net Income per Share |
0.52 |
0.28 |
0.36 |
0.53 |
| Number of Shares |
113,771,378 |
113,771,378 |
113,771,379 |
113,667,915 |
| Share Price |
74.75 |
56.3 |
67 |
90.4 |
| Market Value (thousand) |
8,504,411 |
6,405,329 |
7,622,682 |
10,275,580 |
1 pro-forma
Balance Sheet |
2006 |
4th Q |
3rd Q |
2nd Q |
1st Q |
| Current Assets |
4,878,416 |
4,378,211 |
4,296,293 |
4,648,031 |
| Cash and Banks |
1,281,511 |
1,409,723 |
1,380,420 |
1,701,607 |
| Inventories |
1,231,963 |
1,097,147 |
1,129,531 |
1,133,354 |
| Receivables |
378,826 |
159,874 |
152,915 |
169,828 |
| Other |
1,986,116 |
1,711,467 |
1,633,427 |
1,643,242 |
| Long-Term Receivables |
1,766,034 |
1,076,855 |
1,005,440 |
990,465 |
| Property and Equipment |
4,241,040 |
4,058,688 |
3,939,456 |
3,913,026 |
| Investments |
79,557 |
196,546 |
200,603 |
217,951 |
| Deferred Charges |
76,281 |
892,859 |
928,186 |
954,678 |
| Intangible |
630,945 |
|
|
|
| Goodwill |
- |
822,760 |
862,240 |
892,182 |
| Pre-Operating Expenses |
- |
70,099 |
65,946 |
62,496 |
| Exchange Variation |
|
|
|
- |
| Total Assets |
11,672,273 |
10,603,159 |
10,369,978 |
10,724,151 |
| Current Liabilities |
3,823,909 |
2,658,316 |
2,213,103 |
2,493,435 |
| Suppliers |
2,027,268 |
1,370,332 |
1,250,622 |
1,327,874 |
| Short Term Financing |
800,221 |
624,919 |
433,942 |
596,666 |
| Recallable Fund Quotas (FIDC) CP |
71,100 |
71,100 |
|
|
| Short Term Debentures |
414,761 |
1 |
15,066 |
0 |
| Short Payable on Purchase of Assets |
44,366 |
36,991 |
60,567 |
56,762 |
| Short Term Other |
466,193 |
554,973 |
452,906 |
512,133 |
| Long-Term Financing |
719,128 |
850,209 |
1,017,305 |
1,055,882 |
| Recallable Fund Quotas (FIDC) LP |
663,024 |
639,953 |
|
|
| Long-Term Debentures |
- |
401,490 |
401,490 |
401,490 |
| Long-Term Payable on Purchase of Assets |
- |
- |
0 |
0 |
| Long-Term Provision for Contingencies |
1,209,463 |
1,190,061 |
1,146,662 |
1,112,824 |
| Long-Term Other |
286,206 |
325,094 |
985,784 |
1,076,576 |
| Minority Shares |
128,416 |
220,649 |
244,878 |
271,401 |
| Shareholder's Equity |
4,842,127 |
4,317,387 |
4,360,756 |
4,312,543 |
| Total Liabilities and Shareholder's Equity |
11,672,273 |
10,603,159 |
10,369,978 |
10,724,151 |
EBITDA = Earnings Before Interest, Tax, Depreciation and Amortization.
EBIT = Earnings Before Interest and Tax.
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