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Financial Statements
|
2008 |
|
1st Q1 |
2nd Q |
3rd Q |
| Gross Sales |
4,990,848 |
4,887,960 |
5,055,600 |
| Net Sales |
4,244,090 |
4,239,332 |
4,407,007 |
| Cost of Sales |
(3,131,526) |
(3,133,270) |
(3,217,240) |
| Gross Profit |
1,112,564 |
1,106,062 |
1,189,767 |
| % of Net Sales |
26.21% |
26.1% |
27.0% |
| Selling Expenses |
(658,170) |
(660,866) |
(679,314) |
| % of Net Sales |
-15.51% |
-15.6% |
-15.4% |
| General and Administrative Expenses |
(124,086) |
(118,903) |
(125,275) |
| % of Net Sales |
-2.92% |
-2.8% |
-2.8% |
| Taxes and charges |
(29,567) |
(22,554) |
(27,988) |
| % of Net Sales |
-0.70% |
-0.5% |
-0.6% |
| Total Operating Expenses |
(811,823) |
(802,323) |
(832,577) |
| % of Net Sales |
-19.13% |
-18.9% |
-18.9% |
| EBITDA |
300,741 |
303,739 |
357,190 |
| EBITDA Margin (%) |
7.09% |
7.2% |
8.1% |
| Depreciation |
(108,091) |
(107,200) |
(109,824) |
| % of Net Sales |
-2.55% |
-2.5% |
-2.5% |
| Amortization of the Deferred Assets |
(37,942) |
(41,376) |
(41,145) |
| % of Net Sales |
-0.89% |
-1.0% |
-0.9% |
| EBIT |
154,708 |
155,163 |
206,221 |
| EBIT Margin (%) |
3.65% |
3.7% |
4.7% |
| Financial Expense |
(135,579) |
(141,261) |
(153,691) |
| Financial Income |
69,433 |
60,300 |
72,167 |
| Exchange Variation |
|
|
|
| Net Financial
Income (Loss) |
(66,146) |
(80,961) |
(81,524) |
| % of Net Sales |
-1.56% |
-1.9% |
-1.9% |
| Equity Income |
1,277 |
1,364 |
(199) |
| Non-Operating Results |
3,040 |
(1,939) |
(376) |
| Income Tax |
(26,485) |
(17,341) |
(35,581) |
| Minority Shares |
(3,277) |
7,673 |
(2,167) |
| Employed's Profit Sharing |
(3,600) |
(3,600) |
(3,861) |
| Net Income |
53,387 |
60,359 |
82,513 |
| Net Income per Share |
0.23 |
0.26 |
0.35 |
| Number of Shares |
227,919 |
235,202 |
235,249 |
| Share Price |
35.77 |
34.11 |
33.00 |
| Market Value (thousand) |
8,152,663 |
8,022,740 |
7,763,217 |
1 Pro forma
Balance Sheet
|
2008 |
1st Q |
2nd Q |
3rd Q |
| Current Assets |
5,100,875 |
5,104,682 |
5,243,208 |
| Cash and Banks |
1,212,961 |
1,295,297 |
1,437,324 |
| Inventories |
1,491,962 |
1,531,583 |
1,514,993 |
| Receivables |
561,807 |
368,931 |
500,669 |
| Other |
1,834,145 |
1,908,871 |
1,790,222 |
| Long-Term Receivables |
2,160,134 |
2,193,694 |
2,079,055 |
| Property and Equipment |
4,822,235 |
4,815,695 |
4,812,632 |
| Investments |
112,214 |
113,578 |
113,379 |
| Deferred Charges |
74,054 |
72,477 |
68,680 |
| Intangible |
571,049 |
669,090 |
631,744 |
| Goodwill |
- |
- |
- |
| Pre-Operating Expenses |
- |
- |
- |
| Exchange Variation |
- |
- |
- |
| Total Assets |
12,840,561 |
12,969,216 |
12,948,698 |
| Current Liabilities |
2,994,288 |
2,816,143 |
2,761,210 |
| Suppliers |
1,878,811 |
1,839,392 |
1,819,037 |
| Short Term Financing |
498,952 |
361,838 |
380,464 |
| Recallable Fund Quotas (FIDC) CP |
- |
- |
- |
| Short Term Debentures |
6,517 |
29,129 |
8,573 |
| Short Payable on Purchase of Assets |
35,264 |
37,839 |
28,707 |
| Short Term Other |
574,744 |
547,945 |
524,429 |
| Long-Term Financing |
1,433,988 |
1,437,194 |
1,450,309 |
| Recallable Fund Quotas (FIDC) LP |
845,960 |
870,202 |
899,500 |
| Long-Term Debentures |
779,650 |
779,650 |
779,650 |
| Long-Term Payable on Purchase of Assets |
- |
- |
- |
| Long-Term Provision for Contingencies |
1,265,613 |
1,302,572 |
1,230,773 |
| Long-Term Other |
324,270 |
312,603 |
291,013 |
| Minority Shares |
141,090 |
103,133 |
105,300 |
| Shareholder's Equity |
5,055,702 |
5,347,719 |
5,430,943 |
| Total Liabilities and Shareholder's Equity |
12,840,561 |
12,969,216 |
12,948,698 |
EBITDA = Earnings Before Interest, Tax, Depreciation and Amortization.
EBIT = Earnings Before Interest and Tax.
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