Brasil Modelos Automotiva Ltda.
Report Date
2/8/2012A
Av. Bernardino de Campos 98 1º ao 6º andares
Caxias do Sul - RS
95090-170
Brazil
TEL: 51 3888-6800
FAX: 51 3888-6840
DUNS:
CNPJ:
91-460-9722
05.377.956/0001-20
OVERALL RISK SCORE
22
Financial Statement Date
//2011A
Calculated on a 6 point scale based on the information on Dun & Bradstreet's Data
Base
1
MINIMAL
Proceed & Extend Terms
[2] LOW
3
AVERAGE
4
ABOVE AVERAGE
5
SIGNIFICANT
6
HIGH
-- INSUFICIENT DATA
Proceed
Proceed
Proceed, but Monitor
Seek Guarantees
C.O.D
It's not possible to analyse Risk
SIGNIFICANT ITEMS AND OTHER DATA
Subject has experienced a significant decrease in profit.A
A
A
SUMMARY
The Subject has been scored in 12 Key Areas. A score was obtained for each section
using the relevant scale. These scores were then weighted according to that
section's overall importance in risk analysis. These Weighted Scores (WS) for each
section are then calculated to obtain the average RISK SCORE.
The following is a summary of the results obtained in each of the Key Areas:
ITEM
KEY AREA
A
B
C
D
E
F
G
H
I
J
K
L
Payment severity
Employees
Taxes
Protests
Length of Operation
ISO Certificate
Net Worth Profitable
Net Profit Growth
Net Worth Growth
Operating Margin
Current Ratio
Debt to Equity
TOTAL
AVERAGE RISK SCORE*
SCORE
1
1
2
1
2
1
5
4
1
3
2
2
WEIGHT WEIGHT SCORE
10,0%
2,5%
12,5%
10,0%
2,5%
2,5%
10,0%
5,0%
5,0%
10,0%
10,0%
20,0%
0.1
0.025
0.25
0.1
0.05
0.025
0.5
0.2
0.05
0.3
0.2
0.4
2.2
2.2
- - INSUFICIENT DATA
*FORMULA : Average Risk Score = Total Weight Score divided by Total Weight
percentages used in the individual calculations.
* Non Financial Itens
* Financial Itens
Note 1: The Overall Risk Score as shown on Page 1 is based on the average Risk
Score. Also by taking into account significant items, it may be either upgraded or
downgraded.
TODOS OS DIREITOS SÃO RESERVADOS - É PROIBIDA A REPRODUÇÃO TOTAL OU PARCIAL DE QUALQUER FORMA OU POR
QUALQUER MEIO.
ALL RIGHTS RESERVED - THIS REPORT MAY NOT BE REPRODUCED IN WHOLE OR IN PART IN ANY FORM OR MANNER WHATSOEVER
This report, furnished pursuant to contract for the exclusive use of the subscriber as one factor to consider in connection with credit or other
business decisions. The Dun & Bradstreet recommends that, besides the information contained in this report, it should be taken into consideration,
for credit concession, appraisal on other aspects of the economical-financial situation of the appraised company,as for example, banking
references, suppliers, financial statements, sales, commercial contracts and real estate. The information and data contained in this report where
extracted form the Dun & Bradstreet data base, obtained exactly as available to any third party, and so, the Dun & Bradstreet will not be held
responsible in case of inaccuracies or false statements contained herein. Therefore, the use of these informations by the contractor will be at his
own risk and exclusive judgement. Dun & Bradstreet is not responsible for any indemnity for loss and damages resulting and/or related to the
contents of this report.
RATES INTERPRETATION
2009
2010
2011
Status
ECONOMICAL STATUS
TOTAL INDEBTED ((CL+LTL+FI) / NW) X 100
121,89%
129,48%
118,82%
Better
98,96%
92,62%
Better
12,06%
Worse
(The Company Owes 00,00% Of Its Net Worth) (The Bigger, The Worse)
SHORT TERM DEBT-TO-EQUITY (CL / NW) X 100
75,28%
(The Company Owes (Short Term) 00,00% Of Its Net Worth) (The Bigger, The Worse)
GROSS MARGIN (GROSS INCOME/NET SALES) X 100
14,88%
13,94%
(Indicates That The Gross Income/Loss Was 00,00% Of Net Sales) (The Bigger, The Better. In Case Of Losses,
The Bigger, The Worse)
OPERATING MARGIN (Net Operating Inc./Net Sales) X 100
12,24%
11,15%
9,97%
Worse
(Indicates The 00,00% Of Income/Loss Gained In Each Monetary Unit Of Sales Before Taxes And Interests) (The
Bigger, The Better. In Case Of Losses, The Bigger, The Worse)
RETURN ON ASSETS (NET INCOME/ASSETS) X 100
10,03%
9,52%
8,38%
Worse
(% Indicates The Efficiency Of The Administration In The Generation Of Profit With The Own Total Assets)
(The Bigger, The Better. In Case Of Losses, The Bigger, The Worse)
IP - INVENTORY PERIOD (INVENTORY/ANNUAL COSTS OF GOODS
Better
35
38
37
SOLD) X 360
(Indicates That The Company, In Average Takes Approximately X Days To Sell Their Inventory) (The Bigger, The
Worse)
ACP - AVERAGE COLLECTION PERIOD (ACCOUNTS RECEIVABLE/NET
Worse
75
74
76
SALES) X 360
(Indicates That The Company, In Average Receives Their Invoices With Approximately X Days) (The Bigger, The
Worse)
PT - PAYABLES TURNOVER (SUPPLIERS / PURCHASES) X 360
28
41
40
Worse
(Indicates That The Company, In Average Takes Approximately X Days To Pay Their Purchases) (The Bigger, The
Worse)
FC - FINANCIAL CYCLE (IP + ACP - PT)
82
71
73
Worse
(Indicates That The Company, In Average Needs Approximately X Days Of Financing Of The Working Capital) (The
Bigger, The Worse)
OC - OPERATING CYCLE (IP + ACP)
110
112
113
Worse
(Indicates That The Company, In Average Needs Approximately X Days To Sell And Receive The Revenue) (The
Bigger, The Worse)
INVENTORY TURNOVER (NET SALES/INVENTORY)
12
11
11
Stable
(Indicates That The Company Turns Its Inventories Within An Average Of Approximately 0 Times By Year) (The
Bigger, The Better)
ASSETS TURNOVER (NET SALES/ASSETS)
0,99
1,03
1,03
Stable
(Indicates That Sales Were Higher Than 0 Times The Assets Value) (The Bigger, The Better)
RETURN ON SALES (NET PROFIT/NET SALES)X100
10,09%
9,20%
8,13%
Worse
(%Indicates That The Net Profit/Loss Was 00,00% Out Of The Sales Amount) (The Bigger, The Better. In Case Of
Losses, The Bigger, The Worse)
SALES EVOLUTION ((LAST NET SALES/LAST BUT ONE NET SALES) X
Worse
-0,73%
18,50%
6,67%
100) - 100)
(%Indicates That Sales Increased/Decreased) (The Bigger, The Better)
RETURN ON NET WORTH (NET PROFIT/NW)X100
22,25%
21,84%
18,33%
Worse
(% Indicates That The Net Profit/Loss Was 00,00% Out Of The Net Worth Value) (The Bigger, The Better)
FIXED WORTH (PERMANENT ASSETS/NW)X100
58,28%
69,67%
(% Indicates That The Real State Was 00,00% Of The Nw) (The Smaller, The Better)
64,84%
Better
RATES INTERPRETATION
2009
2010
2011
Status
1,34
1,23
1,29
Better
FINANCIAL STATUS
GENERAL LIQUIDITY (CA+LTR)/(CL+LTL+FI)
(Indicates The Payment Capacity Of The Company In The Short And Long Terms That For Each R$ 1,00 Of Debt, It
Has R$ X To Pay Off) (The Bigger, The Better)
CURRENT RATIO (CA/CL)
2,09
1,54
1,58
Better
(Indicates The Payment Capacity Of The Company In The Short Terms That For Each R$ 1,00 Of Debt, It Has R$ X
To Pay Off) (The Bigger, The Better)
QUICK RATIO (CASH/BANKS+RECEIVABLE BILLS)/CL
1,85
1,32
1,37
Better
(Indicates The Payment Capacity Of The Company In The Short Terms With No Dissolved Of Their Inventaries
That For Each R$ 1,00 Of Debt, It Has R$ X To Pay Off) (The Bigger, The Better)
CAPITAL STATUS
THIRD PARTIES CAPITAL (CL+LTL+FI)/ (TOTAL LIABILITIES)X100
51,60%
52,76%
50,78%
Better
(% Indicates That The Third Parties Capital Financing The Company Corresponds To 0% Of The Total
Liabilities) (The Bigger, The Worse)
OWN CAPITAL ( 1 - THIRD PARTIES CAPITAL) x 100
48,40%
(% Indicates That Its Own Capital Corresponds To 0%) (The Bigger, The Better)
LEGEND
STATUS
MEANING
Green
Yellow
Red
Indigo
Better
Stable
Worse
Not Aplicable
47,24%
49,22%
Better
CHARTS
NET WORTH EVOLUTION - VALUE EXPRESS R$
PROFIT EVOLUTION - VALUE EXPRESS R$
NET WORKING CAPITAL EVOLUTION - VALUE EXPRESS R$
CHARTS
TOTAL INDEBTED EVOLUTION - RATIO
RETURN ON SALES EVOLUTION - RATIO
CURRENT RATIO EVOLUTION - RATIO
RISK LEVEL from 1 (minor) to 6 (major)
Risk Level
Concept
5 or 6
Unfavorable
4
Alert
1 or 2 or 3
Favorable
Risk Level=2
DUNS: 91-460-9722
Brasil Modelos Automotiva Ltda.
FINANCIAL STATEMENT
ASSETS:
Cash
Accounts Receivable
Inventory
Marketable Securit.
Notes Receivable
Prepaid Expenses
Currency: (Reais)
(CORP. LEG.)
%
(CORP. LEG.)
%
%
(CORP. LEG.)
%
%
12/31/2009
CS
12/31/2010
CS
VAR
12/31/2011
CS
VAR
6.416.000
1
53.212.000
4
729
54.436.000
4
2
249.708.000
21
291.175.000
21
17
317.381.000
22
9
99.835.000
8
127.382.000
9
28
135.025.000
9
6
349.573.000
29
254.926.000
19
-27
270.897.000
18
6
11.371.000
1
30.245.000
2
166
32.967.000
2
9
31.071.000
3
2.000.000
0
-94
2.087.000
0
4
Other Credits
107.223.000
9
152.495.000
11
42
171.557.000
12
13
CURRENT ASSETS
855.197.000
71
911.435.000
67
7
984.350.000
67
8
30.944.000
3
41.319.000
3
34
46.277.000
3
12
Investments
222.573.000
19
301.174.000
22
35
316.534.000
22
5
Real Estate
91.117.000
8
112.180.000
8
23
115.545.000
8
3
2.000.000
0
2.000.000
0
0
1.930.000
0
-4
315.690.000
26
415.354.000
30
32
434.009.000
30
4
1.368.108.000 100
14
1.464.636.000 100
7
LONG TERM RECEIVABLE
Differed Assets
PERMANENT ASSETS
TOTAL ASSETS
1.201.831.000 100
LIABILITIE:
Suppliers
78.395.000
7
141.982.000
10
81
149.507.000
10
5
147.016.000
12
238.265.000
17
62
252.561.000
17
6
Fiscal Obligations
44.953.000
4
20.917.000
2
-53
21.821.000
1
4
Accounts Payable
98.605.000
8
124.725.000
9
26
129.465.000
9
4
Owing Banks
Dividen. Particip.
6.031.000
1
40.497.000
3
571
41.712.000
3
3
32.748.000
3
23.615.000
2
-28
24.871.000
2
5
CURRENT LIABILITIES
407.748.000
34
590.001.000
43
45
619.937.000
42
5
LONG TERM LIABILIT
212.452.000
18
131.942.000
10
-38
123.869.000
8
-6
40.000.000
3
50.000.000
4
25
51.500.000
4
3
450.000.000
37
450.000.000
33
0
450.000.000
31
0
Reserves
71.631.000
6
116.165.000
8
62
187.374.000
13
61
Retained Earnings
20.000.000
2
30.000.000
2
50
31.956.000
2
7
541.631.000
45
596.165.000
44
10
669.330.000
46
12
1.201.831.000 100
1.368.108.000 100
14
1.464.636.000 100
7
1.404.676.000 100
1.677.970.000 100
19
1.783.682.000 100
6
-210.181.000 -15
-262.391.000 -16
25
-273.674.000 -15
4
Provisions/Oblig.
Diferred Income
Capital
NET WORTH
TOTAL LIABILITIES
PROFIT AND LOSS STATEMENT
Gross Sales
Deductions
Net Sales
Cost of Goods Sold
1.194.495.000
85
1.415.579.000
84
19
1.510.008.000
85
7
-1.016.655.000 -72 -1.218.159.000 -73
20
1.327.793.000
74
209
Gross Income
177.840.000
13
197.420.000
12
11
182.215.000
10
-8
Sales Expenses
-56.263.000
-4
-73.311.000
-4
30
-74.997.000
-4
2
-42.778.000
-3
-43.467.000
-3
2
-44.510.000
-2
2
-135.518.000 -10
-98.419.000
-6
-27
-101.371.000
-6
3
7
Admin. Expenses
Financial Expenses
Financial Revenue
Other Op. Exp/Rev.
174.684.000
12
144.426.000
9
-17
154.825.000
9
-3.864.000
-0
-10.503.000
-1
172
-10.692.000
-1
2
114.101.000
8
116.146.000
7
2
105.470.000
6
-9
32.164.000
2
41.761.000
2
30
45.144.000
3
8
146.265.000
10
157.907.000
9
8
150.614.000
8
-5
-684.000
-0
-118.000
-0
-83
-120.000
-0
2
Pre-Tax Income
145.581.000
10
157.789.000
9
8
150.494.000
8
-5
Income Tax Prov.
-25.053.000
-2
-27.527.000
-2
10
-27.802.000
-2
1
Net Income
120.528.000
9
130.262.000
8
8
122.692.000
7
-6
Working Capital
447.449.000
-28
364.413.000
Partial Oper. Income
Equity Earnings
Net Operating Income
Non-Operat Income
321.434.000
13
Printed on : 2/8/2012
RATING : 5A 3
Also Branches
D-U-N-S: 91-460-9722
Brasil Modelos Automotiva Ltda.
"Modelos Automotiva"
SUBSIDIARY OF:
Brasil Modelos Electric Ltda.
Caxias do Sul - RS
Brazil
Av. Bernardino de Campos 98 1º ao 6º andares
Paraíso
CGC/CNPJ: 05.377.956/0001-20
95090-170 - Caxias do Sul - RS
Brazil
SIC # 2211
Mfr.
of
auto
parts
such
junctions, and bodies
Post Office Box: 485.
Tel.:
(51)
(51)
Home Page:
E-mail
:
3888-6800
3888-6801
Fax:
(51)
(51)
axl,
3888-6840
3888-6839
www.bmautomotiva.com.br
[email protected]
Values are expressed in Real (R$), unless otherwise stated.
============================================================================
SUMMARY
STARTED
CONTROL
ORIGIN
EMPLOYEES
IMPORTS
EXPORTS
PAYMENTS
C.E.O.:
:1994
:1994
:NATIONAL
:3.968
:YES
:YES
:PROMPT TO SLOW
TREND
SALES
NET WORTH
CAPITAL
CONDITION
HISTORY
PROTESTS
Marcelo Guastavino
:DOWNWARD
:US$ 803,195,744 (12/11)
:US$ 356,026,595 (12/11)
:R$ 450,000,000 (6/08)
:SATISFACTORY
:BUSINESS
:NO
President Director
PERFIL
The Rating 5A results from an analysis of the Company's Financial Capacity,
determining its Net Worth to be US$ 50,000,000 or more.
The Rating 3 represents the General Credit Appraisal of the Company considering
it to be SATISFACTORY as per the analysis of the significant credit items,
indicating an average or higher risk factor.
RESULT OF THE LAST FINANCIAL PERIOD:
According to the Financial Statement(s) of 12 31, 2011, subject closed the
period with PROFIT, and presented the following Ratios:
Current Ratio
: 1.58
Debt to Equity
: 118.82
Quick Ratio
: 1.37
Collection Period
: 75.66
TREND
Compared with the previous period, Subject's general trend was downward based on
the following appraisal:
SALES: decreased. NET WORTH: remained stable.
PROFIT: decreased.
==========================================================================
PUBLIC FILING(S)
On JAN 24, 2012, no occurrences were observed on a national level.
==========================================================================
AREA MANAGEMENT
Mr. José Eduardo de Oliveira
Mr. Jeferson Vicente
Finance Director
Director
=========================================================================
PAYMENTS
------------------------------------------------------------------------PAYING
HIGHEST
LAST
HIGH
SALES
LAST
RECORD
PURCHASE PURCHASE
CREDIT
TERMS
PURCHASE
------------------------------------------------------------------------1/12 Prompt
187,200
30,000
28 D(A)
12/10
1/12 Prompt
14,982
5,255
35 D(B)
12/10
1/12 Prompt
800,000
60,000
45 D(C)
12/10
1/12 Prompt
153,245
153,245
761,820
30 D(D)
12/10
6/11 Prompt
100,000
25,000
30 D(E)
6/10
6/11 Prompt
21,230
21,230
28 D(F)
8/10
6/11 Prompt
14,670
9,151
30 D(G)
6/10
--------------------------------------------------------------------------(A) Good Opinion. Credit Limit: R$ 250,000.00.
(B) Good Opinion.
(C) Good Opinion.
(D) Optimum Opinion. Credit Limit: R$ 900,000.00.
(E) Good Opinion.
(F) Good Opinion.
(G) Good Opinion. Credit Limit: R$ 300,000.00.
A D&B obtains payment references from local and international suppliers.
References listed may be from either or both sources. Amounts may be rounded to
the nearest figure in prescribed ranges.
===============================================================================
PAYMENTS
-------------------------------------------------------------------------------HIGH
LAST
PAY DESCRIPTION
CURR
CREDIT
NOW OWES
PAST DUE TERMS SALES
-------------------------------------------------------------------------------09/10 Prompt
USD
500
1,600
0 Net 30 09/10 *1
10/10 Ppt Slow 2/15 USD
5,600
3,500
2,200 Net 38 08/10 *1
12/10 Ppt Slow
USD
10,000
3,500
2,000 Net 15 10/10 *1
01/11 Prompt
USD
1,700
46,500
0 Net 28 02/11 *1
02/11 Slow 15/30
USD
2,300
1,300
800 Net 30 12/10 *3
03/11 Prompt
USD
2,500
10,500
0 Net 28 01/11 *1
04/11 Slow 5/15
USD
3,000
1,500
1,100 Net 30 04/11 *3
*1
*1
*1
*1
*3
*1
*3
=
=
=
=
=
=
=
Conceito
Conceito
Conceito
Conceito
Conceito
Conceito
Conceito
Bom
Bom
Bom
Bom
Regular
Bom
Regular
Payment references contained in this report may have been obtained from the same
source in different months and monetary units. In come instances, payment beyond
terms can be the result of disputes over merchandise, lost invoices, etc.
AVERAGE PAYMENTS IN BRAZIL
International Risk and Payment Review, a unique Dun and Bradstreet
Publication covering 122 countries worldwide, reported in April 2011:
A) The local delays in payment average 0-1 month, and
B) the foreign exchange bank delays average 0-1 month.
For more information concerning this publication please contact your
local Dun and Bradstreet representative.
===========================================================================
BANKS
Subject operates with the following bank(s):
Bank references were declined.
Bank
Branch
City/State
:
:
:
Banco Bradesco S.A.
Caldas Flores 2028
Caxias do Sul - RS - Brazil
Bank references were declined.
Bank
Branch
City/State
:
:
:
Banco do Brasil S.A.
Barão de Limão 3305
Caxias do Sul - RS - Brazil
Bank references were declined.
Bank
Branch
City/State
:
:
:
Banco Itaú S.A.
Maria Carolina 0003
Caxias do Sul - RS - Brazil
Bank references were declined.
Bank
Branch
City/State
:
:
:
Citibank N.A.
Sete Quedas 0011
Caxias do Sul - RS - Brazil
Bank references were declined.
Bank
Branch
City/State
:
:
:
Unibanco União de Bancos Brasileiros S.A.
Bom Jardim 0252
Caxias do Sul - RS - Brazil
==========================================================================
FINANCE
On January 24, 2012, the, Finance Director, Mr. José Eduardo de Oliveira
confirmed the general data in this report.
Refer to the attached financial statement(s) analysis of DEC 31, 2011, DEC 31,
2010 and DEC 31, 2009.
informed average annual purchasing is R$ 700,000,000.00.
MONTHLY PURCHASE
-----------------------------------------------MON YEAR
MONTHLY PURCHASE
-----------------------------------------------JAN 2011
R$ 45,658,624.32
FEB 2011
R$ 47,698,765.62
MAR 2011
R$ 47,659,875.65
APR 2011
R$ 48,587,695.98
MAY 2011
R$ 47,987,524.65
JUN 2011
R$ 49,875,325.65
JUL 2011
R$ 48,652,457.65
AUG 2011
R$ 50,584,725.65
SEP 2011
R$ 52,987,524.51
OCT 2011
R$ 54,987,356.82
NOV 2011
R$ 65,698,752.65
DEC 2011
R$ 55,263,659.88
-----------------------------------------------Subject also estimated that the average annual sales is
R$ 2,100,000,000.00.
MONTHLY SALES
-----------------------------------------------MON YEAR
MONTHLY SALES
-----------------------------------------------JAN 2011
R$ 99,830,833.00
FEB 2011
R$ 110,484,567.00
MAR 2011
R$ 105,665,246.00
APR 2011
R$ 120,597,465.00
MAY 2011
R$ 108,745,626.00
JUN 2011
R$ 110,574,214.00
JUL 2011
R$ 175,991,421.00
AUG 2011
R$ 149,999,411.00
SEP 2011
R$ 168,620,430.00
OCT 2011
R$ 155,990,436.00
NOV 2011
R$ 175,987,695.00
DEC 2011
R$ 195,482,656.00
-----------------------------------------------INSURANCE:
Subject has the following insurance policy(ies): miscellaneous risks covering
managerial for an amount equal to R$ 544,251,000.00 with Itaú Seguros S/A for
a/an annual period, maturity date on December 31, 2012.
Subject has the following insurance policy(ies): fire risk covering managerial
for an amount equal to R$ 350,000.00 with Porto Seguro Cia. de Seguros Gerais
for a/an annual period, maturity date on.
Subject has the following insurance policy(ies): miscellaneous risks covering
machinery & equipment for an amount equal to R$ 985,256,000.00 with Bradesco
Seguros S/A for a/an annual period, maturity date on October 5, 2012.
Subject has facilities at caption address: headquarters, in own real estate,
with a built area of 25.547 square meters, built on steel, metal plate e
concrete, on land of 37.500 square meters. Real estate estimated value R$
49,700,000.00.
The company still owns 01 branch(es).
Plant, Rua Carlos Maisson Weber, 2.630, Campiraíba, Rio de Janeiro, RJ, Brazil,
C.G.C. : 05377956000733, with a built area of 7.852 square meters, on land of
12.569 square meters, R$ 5.569.856, estimated value.
Subject uses 05 third party real estate(s) at:
Plant, Av. Fernando Stecca, 780 Zona Industrial, Campinas - SP, Brazil, built
area of 18.752 square meters, on land of 22.350 square meters, (rented), value
not mentioned.
Plant, Rua Ricardo Bruno Albarus, 201, Pavilhão B Distrito Industrial, Caxias do
Sul - RS, Brazil, built area of 7.685 square meters, on land of 12.369 square
meters, (rented) monthly rent: R$ 14.556.
Administration office and plant, Rua Eugênio Bellotto, 200, Pavilhão B Vila
Liviero, Diadema - SP, Brazil, built area of 6.897 square meters, on land of
9.658 square meters, (rented), value not mentioned.
Plant, Av. Roberto Gordon, 449/459 Piraporinha, São Paulo - SP, Brazil, built
area of 17.365 square meters, on land of 21.569 square meters, (rented) monthly
rent: R$ 9.453.
Plant, Av. Brasil, 5.370, Marg. BR 277, Km 121 Guabiroba, Curitiba - PR, Brazil,
built area of 11.365 square meters, on land of 15.452 square meters, (rented)
monthly rent: R$ 7.658.
==========================================================================
HISTORY
Limited Liability Company, started on January 1, 1994 and registered at the
State Commerce Registration Office of Rio Grande do Sul on December 1, 2006.
Capital presently amounts to R$ 450,000,000.00 and is fully paid-in.
Total common shares:
Total preferred shares:
The last capital increase was on June 13, 2008.
Capital distribution is as follows:
SHAREHOLDER(S)
Brasil Modelos Electric Ltda.
Brasil Modelos Equipamentos Ltda.
Brasil Modelos Industrial Ltda.
Total %
(%/CAPITAL)
66.78000%
25.20000%
08.02000%
-----------100.00000%
OPERATIONS START UP:
Activities started on January 1, 1994, under company name: Brasil Automotiva
Ltda., on São Paulo, SP.
Incorporated: Modelos Industrial Ltda. - (DUNS: 91-180-6357)., on November 1,
2003, with C.G.C. 00389114000167.
Incorporated: Brasil Modelos Faróis Ltda. - (DUNS: 89-712-3775)., in November
2006, with C.G.C. 92758885000191.
Changed company name to Brasil Modelos Automotiva Ltda., on December 1, 2006.
Registrated under NIRE 35.212.588.400 (São Paulo/SP). On March 12,1998, the
subject relocating the HQ to Rio Grande do Sul.
==========================================================================
PARENT COMPANY
Company Name
Headquarters
C.G.C.
D-U-N-S
Founded
LOB
Participation
:
:
:
:
:
:
:
Brasil Modelos Electric Ltda.
Caxias do Sul, RS, Brazil.
43.591.324/0001-88
90-806-5031
1972
Mfr. of auto parts such axl, junctions, and bodies
66.78000%
Subsidiary of: Brasil Modelos Corporation, UK - (DUNS: 30-504-6555).
===========================================================================
SHAREHOLDERS
Company Name
Headquarters
C.G.C.
D-U-N-S
Founded
LOB
Participation
:
:
:
:
:
:
:
Brasil Modelos Equipamentos Ltda.
Caxias do Sul, RS, Brazil.
51831861000175
90-940-7887
1967
Holding Company.
25.20000%
Company Name
Headquarters
C.G.C.
D-U-N-S
Founded
LOB
Participation
:
:
:
:
:
:
:
Brasil Modelos Industrial Ltda.
Caxias do Sul, RS, Brazil.
90265675000182
95-120-3094
1994
Holding company.
08.02000%
==========================================================================
SUBSIDIARY(IES)
Known subsidiaries are listed below:
Company name
Head office
C.G.C.
D-U-N-S
LOB
Foundation
Participation
:
:
:
:
:
:
:
Brasil Modelos Comercial Ltda.
Diadema, SP, Brazil.
49.769.274/0001-88
89-673-1589
wholesaler and retailer of auto parts.
2001
99.99000%
Company name
Head office
C.G.C.
D-U-N-S
LOB
Foundation
Participation
:
:
:
:
:
:
:
Brasil Modelos Indústria e Comércio de Autopeças Ltda.
Caxias do Sul, RS, Brazil.
47.963.516/0001-85
91-875-2355
Mfr. of auto parts such axl, junctions, and bodies
1989
99.99000%
===========================================================================
AFFILIATED COMPANY(IES)
The affiliate company is:
Company name
: Brasil Modelos Metalúrgica Ática Ltda.
Head office
C.G.C.
D-U-N-S
LOB
Foundation
Participation
:
:
:
:
:
:
Diadema, SP, Brazil.
46779873000141
91-647-0544
Mfr. of auto parts such axl, junctions, and bodies
1985
33.33000%
==========================================================================
GROUP
The subject is a member of the Brasil Modelos Group. Known members of the Group
are:
Automotiva Corporation., London, United Kingdom
C.G.C. : 47.809.374/0001-25 (D-U-N-S : 30-504-6555)
Brasil Modelos Automotiva Ltda., Caxias do Sul, RS, Brazil
C.G.C. : 01.485.092/0001-00 (D-U-N-S : 91-460-9722)
Brasil Modelos Electric Ltda., Caxias do Sul, RS, Brazil
C.G.C. : 43.591.324/0001-88 (D-U-N-S : 90-806-5031)
Brasil Modelos Equipamentos Ltda., Caxias do Sul, RS, Brazil
C.G.C. : 51.831.861/0001-75 (D-U-N-S : 90-940-7887)
Brasil Modelos Industrial Ltda., Gravataí, RS, Brazil
C.G.C. : 90.265.675/0001-82 (D-U-N-S : 95-120-3094)
Brasil Modelos Comercial Ltda., Diadema, SP, Brazil
C.G.C. : 49.769.274/0001-88 (D-U-N-S : 89-673-1589)
Brasil Modelos Indústria e Comércio de Autopeças Ltda., Caxias do Sul, RS,
Brazil
C.G.C. : 47.963.516/0001-85 (D-U-N-S : 91-875-2355)
Brasil Modelos Metalúrgica Ática Ltda., Diadema, SP, Brazil
C.G.C. : 46.779.873/0001-41 (D-U-N-S : 91-647-0544)
===========================================================================
ANTECEDENTS
Mr. Marcelo Guastavino, President Director, ID# M-1.007.996(R.G.) and C.P.F.#
02532360020, married, born on October 30, 1960, native of Belo Horizonte, MG,
Brazil. University degree in Accounting Sciences.University degree in Business
Administration.
Entered the subject in 1998. Is active in the company's daily activities.
Mr. José Eduardo de Oliveira, Finance Director, ID# 700.056.9058(R.G.) and
C.P.F.# 18581692087, married, born on January 13, 1953, native of Brazil.
University degree in Accounting Sciences.
Present Connections: Director of Brasil Modelos S/A Indústria e Comércio.,
D-U-N-S 89-702-3746, Caxias do Sul, RS, Brazil, since October 3 , 1979, holds
10,00% of the capital.
Entered the subject in 1997. Is active in the company's daily activities.
Mr. Jeferson Vicente, Director, ID# 5.093.755(R.G.) and C.P.F.# 98825578899,
married, born on December 31, 1965, native of Brazil. University degree in
Economics.
Entered the subject in 1998. Is active in the company's daily activities.
==========================================================================
OPERATIONS
Manufacturer of auto parts such as: suspension joint (pivot), steering bar and
reaction. drag link, engines bushings, stringers, steering terminals, stay
stabilizing bar, 100%.
Has certificate ISO 9001, granted by SGS System Certification, ISO 14001 granted
by ABS-American Bureau of Shipping Quality Evaluations., with expiration on
07/14/2012, and ISO 16949 granted by DNV-Det Norske Veritas Classification, with
expiration on 08/23/2012.
Main trademark:
Brasil Modelos, auto parts, 100%.
Products are sold in the following market(s): national and international.
Internationally:
Germany.
United States.
Mercosul.
National sales terms:
credit sale for 30 days (76%);
cash (04%).
International sales terms:
on credit for 30-60 days (20%).
Keeps a portfolio of 1800 customers, being 436 customers. .
Purchases from the following market(s): national and international.
Internationally:
United States.
Mercosul.
Nationwide purchase terms:
credit sale for 28-30 days (95%).
International purchase terms:
on credit for 90 days (05%);.
Employs in its activities 3,968 person(s). 551 in this location
===========================================================================
MAIN CUSTOMERS
Sells mainly to:
General Motors do Brasil Ltda., São Caetano do Sul - SP, Brazil, (08.45)%.
Ford Motor Company do Brasil Ltda., São Bernardo do Campo - SP, Brazil, (12.65)%
Volkswagen do Brasil Ltda., São Bernardo do Campo - SP, Brazil, (05.98)%.
Mercedes Benz do Brasil Ltda., São Bernardo do Campo - SP, Brazil, (13.66)%.
Scania Latin América Ltda., São Bernardo do Campo - SP, 06.87, Brazil.
Volvo do Brasil Veículos Ltda., Curitiba - PR, Brazil, (03.98)%.
Affinia Automotiva Ltda., Osasco - SP, Brazil, (07.65)%.
Fiat Automóveis S/A., Belo Horizonte - MG, 06.65, Brazil.
Tritec Motors Ltda., Campo Largo - PR, Brazil, (08.99)%.
Toyota do Brasil Ltda., São Bernardo do Campo - SP, Brazil, (06.47)%.
===========================================================================
MAJOR SUPPLIERS
Purchases mainly from:
Aços Villares Ltda., São Paulo - SP, Brazil.
Armco do Brasil S/A., São Paulo - SP, Brazil.
Companhia Siderúrgica Nacional - CSN., Rio de Janeiro - RJ, Brazil.
Fagor - Fundição Brasileira S/A., Extrema - MG, Brazil.
Gerdau Aços Especiais S/A., Charquadas - RS, Brazil.
Metalúrgica Osan Ltda., Indaiatuba - SP, Brazil.
Maxion Componentes Automotivos S/A., Cruzeiro - SP, Brazil.
Multimetal - Indústria Metalúrgica Ltda., Cambé - PR, Brazil.
Rolamentos Schaeffler do Brasil S/A., Sorocaba - SP, Brazil.
Sifco S/A., Jundiaí - SP, Brazil.
Timken do Brasil Com. e Indústria Ltda., São Paulo - SP, Brazil.
Tupy Fundições Ltda., Joinville - SC, Brazil.
V & M do Brasil S/A. - (Mannesmann)., Belo Horizonte - MG, Brazil.
International Trade Winds LLC., Miami, Florida, United States.
==========================================================================
LOCATION
Headquarters situated at caption address, in own real estate, with a built area
of 25547 square meters, built on steel, metal plate and concrete, in a building
site of 37.500 square meters.
Subject owns 05 branch(es) in third party real estate.
Plant, Av. Fernando Stecca, 780 Zona Industrial, Campinas - SP, Brazil, C.G.C. :
05.377.956/0002-39, phone : (15) 3238-6000, fax : (15) 3238-6001 (rented), value
not mentioned, # employees 687.
I.E.: 669.310.867.112
Plant, Rua Ricardo Bruno Albarus, 201, Pavilhão B Distrito Industrial, Caxias do
Sul - RS, Brazil, C.G.C. : 05.377.956/0003-09, phone : (51) 3489-3000, fax :
(51) 3489-3300 (rented), # employees 419.
(I.E.: 057/0150728)
Administration office and plant, Rua Eugênio Bellotto, 200, Pavilhão B Vila
Liviero, Diadema - SP, Brazil, C.G.C. : 05.377.956/0004-82, phone : (11)
6331-8526, fax : (11) 946-0643 (rented), value not mentioned, # employees 662.
(I.E.: 102.143.946.111)
Plant, Av. Roberto Gordon, 449/459 Piraporinha, São Paulo - SP, Brazil, C.G.C. :
05.377.956/0004-56, phone : (11) 4071-1411, fax : (11) 4071-2881 (rented), #
employees 863.
(I.E.: 286.008.309.110)
Plant, Av. Brasil, 5.370, Marg. BR 277, Km 121 Guabiroba, Curitiba - PR, Brazil,
C.G.C. : 05.377.956/0006-85, phone : (41) 2104-8800, fax : (41) 2104-8812
(rented), # employees 428.
Subject has 01 branch(es) in own real estate.
Plant, Rua Carlos Maisson Weber 2.630, Campiraíba, Rio de Janeiro - RJ, Brazil,
C.G.C. : 05.377.956/0007-33, phone : (21) 3255-6589, fax : (21) 3256-5623, #
employees 358.
=============================================================================
COMPARATIVE FIGURES (values are in US$ Dollar)
Current Asset
Fixed Assets
Total Assets
Current. Liab
Long Term Lia
Net Worth
Net Sales
12/31/2009
CORP.LEG.
491.492.528
181.431.034
690.707.471
234.337.931
122.098.850
311.282.183
597.247.500
12/31/2010
CORP.LEG.
549.057.228
250.213.253
824.161.445
355.422.289
79.483.132
359.135.542
852.758.433
%VAR
11
37
19
51
-34
15
42
12/31/2011
CORP.LEG.
523.590.425
230.855.851
779.061.702
329.753.723
65.887.765
356.026.595
803.195.744
%VAR
-4
-7
-5
-7
-17
-0
-5
Gross Profit
Net Profit
Working Capit
%VAR
88.920.000
69.268.965
257.154.597
118.927.710
78.471.084
193.634.939
33
13
-24
96.922.872
65.261.702
193.836.702
-18
-16
0
= PERCENTAGE OF GROWTH FROM YEAR TO YEAR
BALANCE SHEET (Values are in US$ Dollar)
Financial Statements of 31/12/2011. (CORP.LEG.)
Cash
Accounts Receivable
Inventory
Marketable Securit.
Notes Receivable
Prepaid Expenses
Other Credits
28.955.319
168.819.680
71.821.808
144.094.148
17.535.638
1.110.106
91.253.723
Suppliers
Owing Banks
79.525.000
134.340.957
Fiscal Obligations
Accounts Payable
Dividen. Particip.
Provisions/Oblig.
11.606.914
68.864.361
22.187.234
13.229.255
CURRENT ASSETS
523.590.425
CURRENT LIABILITIES
329.753.723
LONG TERM RECEIVABLE
Investments
Real Estate
Differred Assets
PERMANENT ASSETS
24.615.425
168.369.148
61.460.106
1.026.595
230.855.851
LONG TERM LIABILIT.
Forward Income
Capital
Reserves
65.887.765
27.393.617
239.361.702
99.667.021
Retained Earnings
NET WORTH
16.997.872
356.026.595
TOTAL ASSETS
779.061.702
TOTAL LIABILITIES
779.061.702
PROFIT AND LOSS STATEMENT IN 31/12/2011
Gross Sales
Deductions
Net Sales
Cost of Goods Sold
Gross Income
Sales Expenses
Admin. Expenses
Financial Expenses
Financial Revenue
Other Oper. Exp/Rev.
Partial Oper. Income
Equity Earnings
Net Operating Inc.
Non-Operat Income
Pre-Tax Income
Income Tax Prov.
Net Income
Working Capital
948.767.021
-145.571.276
803.195.744
706.272.872
96.922.872
-39.892.021
-23.675.531
-53.920.744
82.353.723
-5.687.234
56.101.063
24.012.765
80.113.829
-63.829
80.050.000
-14.788.297
65.261.702
193.836.702
=============================================================================
Financial Statements of 31/12/2010. (Values are in US$ Dollar)(CORP.LEG.)
Cash
Accounts Receivable
Inventory
Marketable Securit.
Notes Receivable
32.055.421
175.406.626
76.736.144
153.569.879
18.219.879
Suppliers
Owing Banks
Fiscal Obligations
Accounts Payable
85.531.325
143.533.132
12.600.602
75.135.542
Prepaid Expenses
Other Credits
1.204.819
91.864.457
Dividen. Particip.
Provisions/Oblig.
24.395.783
14.225.903
CURRENT ASSETS
549.057.228
CURRENT LIABILITIES
355.422.289
LONG TERM RECEIVABLE
Investments
Real Estate
Differred Assets
PERMANENT ASSETS
24.890.963
181.430.120
67.578.313
1.204.819
250.213.253
LONG TERM LIABILIT.
Forward Income
Capital
Reserves
79.483.132
30.120.481
271.084.337
69.978.915
Retained Earnings
NET WORTH
18.072.289
359.135.542
TOTAL ASSETS
824.161.445
TOTAL LIABILITIES
824.161.445
PROFIT AND LOSS STATEMENT IN 31/12/2010
Gross Sales
Deductions
Net Sales
Cost of Goods Sold
Gross Income
Sales Expenses
Admin. Expenses
Financial Expenses
Financial Revenue
Other Oper. Exp/Rev.
Partial Oper. Income
Equity Earnings
Net Operating Inc.
Non-Operat Income
Pre-Tax Income
Income Tax Prov.
Net Income
Working Capital
1.010.825.301
-158.066.867
852.758.433
-733.830.722
118.927.710
-44.163.253
-26.184.939
-59.288.554
87.003.614
-6.327.108
69.967.469
25.157.228
95.124.698
-71.084
95.053.614
-16.582.530
78.471.084
193.634.939
=============================================================================
Financial Statements of 31/12/2009. (Values are in US$ Dollar)(CORP.LEG.)
Cash
Accounts Receivable
Inventory
Marketable Securit.
Notes Receivable
Prepaid Expenses
Other Credits
3.687.356
143.510.344
57.376.436
200.904.022
6.535.057
17.856.896
61.622.413
Suppliers
Owing Banks
45.054.597
84.491.954
Fiscal Obligations
Accounts Payable
Dividen. Particip.
Provisions/Oblig.
25.835.057
56.669.540
3.466.091
18.820.689
CURRENT ASSETS
491.492.528
CURRENT LIABILITIES
234.337.931
LONG TERM RECEIVABLE
Investments
Real Estate
Differred Assets
PERMANENT ASSETS
17.783.908
127.915.517
52.366.091
1.149.425
181.431.034
LONG TERM LIABILIT.
Forward Income
Capital
Reserves
122.098.850
22.988.505
258.620.689
41.167.241
Retained Earnings
NET WORTH
11.494.252
311.282.183
TOTAL ASSETS
690.707.471
TOTAL LIABILITIES
690.707.471
PROFIT AND LOSS STATEMENT IN 31/12/2009
Gross Sales
Deductions
Net Sales
Cost of Goods Sold
Gross Income
Sales Expenses
Admin. Expenses
Financial Expenses
Financial Revenue
Other Oper. Exp/Rev.
Partial Oper. Income
Equity Earnings
Net Operating Inc.
Non-Operat Income
Pre-Tax Income
Income Tax Prov.
Net Income
Working Capital
702.338.000
-105.090.500
597.247.500
-508.327.500
88.920.000
-28.131.500
-21.389.000
-67.759.000
87.342.000
-1.932.000
57.050.500
16.082.000
73.132.500
-342.000
83.667.241
-14.398.275
69.268.965
257.154.597
==============================================================================
FIGURES (values are in R$ Reais)
Current Asset
Fixed Assets
Total Assets
Current. Liab
Long Term Lia
Net Worth
Net Sales
Gross Profit
Net Profit
Working Capit
12/31/2009
CORP.LEG.
855.197.000
315.690.000
1.201.831.000
407.748.000
212.452.000
541.631.000
1.194.495.000
177.840.000
120.528.000
447.449.000
12/31/2010
CORP.LEG.
911.435.000
415.354.000
1.368.108.000
590.001.000
131.942.000
596.165.000
1.415.579.000
197.420.000
130.262.000
321.434.000
12/31/2011
CORP.LEG.
984.350.000
434.009.000
1.464.636.000
619.937.000
123.869.000
669.330.000
1.510.008.000
182.215.000
122.692.000
364.413.000
BALANCE SHEET (Values are in R$ Reais)
Financial Statements of 31/12/2011. (Values are in R$ Reais)(CORP.LEG.)
Cash
Accounts Receivable
Inventory
Marketable Securit.
Notes Receivable
Prepaid Expenses
Other Credits
54.436.000
317.381.000
135.025.000
270.897.000
32.967.000
2.087.000
171.557.000
Suppliers
Owing Banks
149.507.000
252.561.000
Fiscal Obligations
Accounts Payable
Dividen. Particip.
Provisions/Oblig.
21.821.000
129.465.000
41.712.000
24.871.000
CURRENT ASSETS
984.350.000
CURRENT LIABILITIES
619.937.000
LONG TERM RECEIVABLE
Investments
Real Estate
Differred Assets
PERMANENT ASSETS
46.277.000
316.534.000
115.545.000
1.930.000
434.009.000
LONG TERM LIABILIT.
Forward Income
Capital
Reserves
123.869.000
51.500.000
450.000.000
187.374.000
Retained Earnings
NET WORTH
31.956.000
669.330.000
TOTAL LIABILITIES
1.464.636.000
TOTAL ASSETS
1.464.636.000
PROFIT AND LOSS STATEMENT IN 31/12/2011
Gross Sales
Deductions
Net Sales
Cost of Goods Sold
Gross Income
Sales Expenses
Admin. Expenses
Financial Expenses
Financial Revenue
Other Oper. Exp/Rev.
Partial Oper. Income
Equity Earnings
Net Operating Inc.
Non-Operat Income
Pre-Tax Income
Income Tax Prov.
Net Income
Working Capital
1.783.682.000
-273.674.000
1.510.008.000
1.327.793.000
182.215.000
-74.997.000
-44.510.000
-101.371.000
154.825.000
-10.692.000
105.470.000
45.144.000
150.614.000
-120.000
150.494.000
-27.802.000
122.692.000
364.413.000
=============================================================================
Financial Statements of 31/12/2010. (Values are in R$ Reais)(CORP.LEG.)
Cash
Accounts Receivable
Inventory
Marketable Securit.
Notes Receivable
Prepaid Expenses
Other Credits
53.212.000
291.175.000
127.382.000
254.926.000
30.245.000
2.000.000
152.495.000
Suppliers
Owing Banks
141.982.000
238.265.000
Fiscal Obligations
Accounts Payable
Dividen. Particip.
Provisions/Oblig.
20.917.000
124.725.000
40.497.000
23.615.000
CURRENT ASSETS
911.435.000
CURRENT LIABILITIES
590.001.000
LONG TERM RECEIVABLE
Investments
Real Estate
Differred Assets
PERMANENT ASSETS
41.319.000
301.174.000
112.180.000
2.000.000
415.354.000
LONG TERM LIABILIT.
Forward Income
Capital
Reserves
131.942.000
50.000.000
450.000.000
116.165.000
Retained Earnings
NET WORTH
30.000.000
596.165.000
TOTAL LIABILITIES
1.368.108.000
TOTAL ASSETS
1.368.108.000
PROFIT AND LOSS STATEMENT IN 31/12/2010
Gross Sales
Deductions
Net Sales
Cost of Goods Sold
Gross Income
Sales Expenses
Admin. Expenses
Financial Expenses
Financial Revenue
Other Oper. Exp/Rev.
Partial Oper. Income
Equity Earnings
Net Operating Inc.
1.677.970.000
-262.391.000
1.415.579.000
-1.218.159.000
197.420.000
-73.311.000
-43.467.000
-98.419.000
144.426.000
-10.503.000
116.146.000
41.761.000
157.907.000
Non-Operat Income
Pre-Tax Income
Income Tax Prov.
Net Income
Working Capital
-118.000
157.789.000
-27.527.000
130.262.000
321.434.000
=============================================================================
Financial Statements of 31/12/2009. (Values are in R$ Reais)(CORP.LEG.)
Cash
Accounts Receivable
Inventory
Marketable Securit.
Notes Receivable
Prepaid Expenses
Other Credits
6.416.000
249.708.000
99.835.000
349.573.000
11.371.000
31.071.000
107.223.000
Suppliers
Owing Banks
Fiscal Obligations
Accounts Payable
Dividen. Particip.
Provisions/Oblig.
44.953.000
98.605.000
6.031.000
32.748.000
CURRENT ASSETS
855.197.000
CURRENT LIABILITIES
407.748.000
LONG TERM RECEIVABLE
Investments
Real Estate
Differred Assets
PERMANENT ASSETS
30.944.000
222.573.000
91.117.000
2.000.000
315.690.000
LONG TERM LIABILIT.
Forward Income
Capital
Reserves
212.452.000
40.000.000
450.000.000
71.631.000
Retained Earnings
NET WORTH
20.000.000
541.631.000
TOTAL LIABILITIES
1.201.831.000
TOTAL ASSETS
1.201.831.000
78.395.000
147.016.000
PROFIT AND LOSS STATEMENT IN 31/12/2009
Gross Sales
Deductions
Net Sales
Cost of Goods Sold
Gross Income
Sales Expenses
Admin. Expenses
Financial Expenses
Financial Revenue
Other Oper. Exp/Rev.
Partial Oper. Income
Equity Earnings
Net Operating Inc.
Non-Operat Income
Pre-Tax Income
Income Tax Prov.
Net Income
Working Capital
1.404.676.000
-210.181.000
1.194.495.000
-1.016.655.000
177.840.000
-56.263.000
-42.778.000
-135.518.000
174.684.000
-3.864.000
114.101.000
32.164.000
146.265.000
-684.000
145.581.000
-25.053.000
120.528.000
447.449.000
============================================================================
FINANCIAL - ECONOMIC RATIOS
ITEMS
31/12/2009
31/12/2010
2,09
1,85
1,54
1,32
31/12/2011
LIQUIDITY RATIOS:
Current Ratio
Quick Ratio
1,58
1,37
General Liquidity
Short Term Debt-to-Equity
Debt-to-Equity
1,34
75,28
121,89
1,23
98,96
129,48
1,29
92,62
118,82
86,50
0,86
10,40
58,28
74,04
1,03
11,11
69,67
75,66
1,03
11,18
64,84
14,88
12,24
11,59
10,02
22,25
13,94
11,15
9,20
9,52
21,85
12,06
9,97
8,12
8,37
18,33
EFFICIENCY RATIOS:
Collection Period
Asset Turnover
Inventory Turnover
Fixed Worth
PROFITABILITY RATIOS:
Gross Margin
Operating Margin
Return on Sales
Return on Assets
Return on Net Worth
==========================================================================
CONCLUSION
FINANCIAL ANALYSIS
Capital presently amounts to R$ 450.000.000,00 and is fully paid-in.
The last capital increase was on June 13, 2008.
On DEC 31, 2011, the Working Capital was US$ 193.836.702,12, the General
Liquidity Ratio was 1,29 and the Current Ratio was 1,58.
Subject's Own Working Capital (Net Worth - Fixed Assets) was US$ 125.170.744,68.
Current Assets was US$ 523.590.425,53.
Current Liabilities was US$ 329.753.723,40.
General Debt Ratio was 118,82%.
Fixed Assets was US$ 230.855.851,06.
Gross Margin (Gross Result/Net Sales) was 12,06%.
Operating Margin (Operating Result/Net Sales) was 9,97%.
Profit Margin (Net Profit/Net Sales) was 8,12%.
The most recent Balance Sheet shows a Profit.
In comparison to the previous year, Net Worth changed by -0,86%.
Net Sales for the above period changed by -5,81% when compared to the same
period in the previous year.
Net Profit for the above period changed by -16,83% when compared to the same
period in the previous year.
1 - Financial statement accounts are expressed in US$ equivalent.
2 - The accounting method used in the elaboration of each financial statement is
the Corporate Legislation method and treated in the following manner: Balance
sheet accounts were converted to US$ Dollar using the official US$ Dollar rate
as of the closing of the statement. Profit & Loss statement accounts from Cross
Sales to Non Op. Result were converted using the arithmetic mean of the twelve
months official US$ Dollar rates for the period. Others accounts to Net Income
were converted to US$ Dollar using the official US$ Dollar rate as of the
closing of the statement.
3 - The financial statement submitted with the closing date of Dec 31,2010 are
treated as follows: Balance Sheet accounts and Profit & Loss statement are
converted to US$ Dollar using the official US$ Dollar rate as of the closing of
the statement.
Official Dollar Rates:
Dec.
Dec.
Dec.
Dec.
Dec.
31,
31,
31,
31,
31,
2006:
2007:
2008:
2009:
2010:
US$
US$
US$
US$
US$
1.00
1.00
1.00
1,00
1,00
=
=
=
=
=
R$
R$
R$
R$
R$
2.14;
1.77;
2.34;
1,74;
1,66
© Rights Reserved 1996 Dun & Bradstreet. All Rights Reserved. This report,
which is authorized for the exclusive use of D&B Customers, through a
contract, and to be used as an instrument of business decision, contains
information compiled from different sources on which D&B no control and have
not been verified unless otherwise specified in this report. Dun & Bradstreet
does not assume any of the user's business risks; does not guarantee the
accuracy, integrity and timeliness of the information and shall not be liable
in tort, contract or otherwise for any loss, damage or injury resulting from
the use of this information, even if caused by Dun & Bradstreet's negligence.
DB/AH/A3
Documents