Printed on : 1/8/2010
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: 01.485.092/0001-00
95090-170 - Caxias do Sul - RS
Brazil
SIC # 3714
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$), unless otherwise stated.
============================================================================
SUMMARY
STARTED
CONTROL
ORIGIN
EMPLOYEES
IMPORTS
EXPORTS
PAYMENTS
C.E.O.:
:1994
:1994
:NATIONAL
:3.968
:YES
:YES
:PROMPT
TREND
SALES
NET WORTH
CAPITAL
CONDITION
HISTORY
PROTESTS
Marcelo Guastavino
:UPWARD
:US$ 725,937,948 (12/09)
:US$ 336,816,384 (12/09)
:R$ 450,000,000 (6/08)
:SATISFACTORY
:BUSINESS
:YES
** LAW SUITS **
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, 2009, subject closed the
period with PROFIT, and presented the following Ratios:
Current Ratio
: 1.54
Debt to Equity
Quick Ratio
: 1.32
Collection Period
:
:
129.48
81.58
TREND
Compared with the previous period, Subject's general trend was upward based on
the following appraisal:
SALES: increased. NET WORTH: increased.
PROFIT: increased.
==========================================================================
PUBLIC FILING(S)
On JAN 7, 2010, were observed on a national level. 57 occurrence(s)
PROTESTS:
Total number of protests: 56, of which
Single Notary Public - Caxias do Sul,
Single Notary Public - Caxias do Sul,
Single Notary Public - Caxias do Sul,
Single Notary Public - Caxias do Sul,
Single Notary Public - Caxias do Sul,
the most recent are
RS - R$ 2,565.00 on
RS - R$ 2,870.10 on
RS - R$ 2,545.20 on
RS - R$ 1,445.67 on
RS - R$ 4,009.80 on
listed:
NOV 28, 2009.
NOV 19, 2009.
JUL 28, 2009.
JUN 23, 2008.
MAY 9, 2008.
SEARCH AND ARREST/FISCAL ACTIONS:
There is/are 01 action(s), of which the following is mentioned:
Fiscal - 10th Civil Court of Caxias do Sul, RS on MAY 3, 2008.
==========================================================================
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
------------------------------------------------------------------------1/10 Prompt
187,200
30,000
28 D(A)
12/09
1/10 Prompt
14,982
5,255
35 D(B)
12/09
1/10 Prompt
800,000
60,000
45 D(C)
12/09
1/10 Prompt
153,245
153,245
761,820
30 D(D)
12/09
6/09 Prompt
100,000
25,000
30 D(E)
6/09
6/09 Prompt
21,230
21,230
28 D(F)
8/09
6/09 Prompt
14,670
9,151
30 D(G)
6/09
12/08 Prompt
56,680
37,987
30 D(h)
12/08
--------------------------------------------------------------------------(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.
(h) Good Opinion.
Payment experiences reflect how bills are paid in relation to terms granted. In
some instances payment beyond terms can be the result of disputes over
merchandise, skipped invoices, etc. Each experience shown represents a separate
account reported by a supplier.
===============================================================================
INTERNATIONAL PAYMENTS
-------------------------------------------------------------------------------HIGH
LAST
PAY DESCRIPTION
CURR
CREDIT
NOW OWES
PAST DUE TERMS SALES
-------------------------------------------------------------------------------06/08 Prompt
R$
400,000
1,000
1,500
06/08
01/09 Prompt
R$
300,000
0
0
12/08
Payment experiences reported in this section reflect international experiences
in which subject purchased from a foreigner supplier. Payment experiences
reflect how bills are paid in relation to terms granted. In some instances
payment beyond terms can be the result of disputes over merchandise, skipped
invoices, etc.
AVERAGE PAYMENTS IN BRAZIL
International Risk and Payment Review, a unique Dun and Bradstreet
Publication covering 122 countries worldwide, reported in October 2009
A) The local delays in payment average 0-2 months, and
B) the foreign exchange bank delays average 0-2 months.
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
:
Banco Bradesco S.A.
Branch
:
Caldas Flores 2028
City/State :
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 7, 2010, 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, 2009, DEC 31,
2008 and DEC 31, 2007.
.
Informed that the company does not produce partial balance sheet .
MONTHLY SALES
-----------------------------------------------MON YEAR
MONTHLY SALES
-----------------------------------------------JAN 2009
R$ 99,830,833.00
FEB 2009
R$ 110,484,567.00
MAR 2009
R$ 105,665,246.00
APR 2009
R$ 120,597,465.00
MAY 2009
R$ 108,745,626.00
JUN 2009
R$ 110,574,214.00
JUL 2009
R$ 175,991,421.00
AUG 2009
R$ 149,999,411.00
SEP 2009
R$ 168,620,430.00
OCT 2009
R$ 155,990,436.00
NOV 2009
R$ 175,987,695.00
DEC 2009
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, 2010.
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 December 20, 2010.
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, 2010.
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.
Has the following branches:
Plant, Av. Fernando Stecca, 780 Zona Industrial, Campinas - SP, Brazil, built
area of 18.752 square meters, on land of 22.350 square meters, (own), 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, (own), 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, (own),
value not mentioned.
==========================================================================
HISTORY
Limited Liability Company, started on October 18, 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 October 18, 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
Head office
C.G.C.
D-U-N-S
LOB
Foundation
Participation
:
:
:
:
:
:
:
Brasil Modelos Metalúrgica Ática Ltda.
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., and ISO 16949 granted
by DNV-Det Norske Veritas Classification, with expiration on 08/23/2010.
Main trademark:
Brasil Modelos.
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%).
.
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.
Ford Motor Company do Brasil Ltda., São Bernardo do Campo - SP, Brazil.
Volkswagen do Brasil Ltda., São Bernardo do Campo - SP, Brazil.
Mercedes Benz do Brasil Ltda., São Bernardo do Campo - SP, Brazil.
Scania Latin América Ltda., São Bernardo do Campo - SP, Afghanistan.
Volvo do Brasil Veículos Ltda., Curitiba - PR, Brazil.
Affinia Automotiva Ltda., Osasco - SP, Brazil.
Fiat Automóveis S/A., Belo Horizonte - MG, Brazil.
Tritec Motors Ltda., Campo Largo - PR, Brazil.
Toyota do Brasil Ltda., São Bernardo do Campo - SP, Brazil.
===========================================================================
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.
Has the following branches:
Plant, Av. Fernando Stecca, 780 Zona Industrial, Campinas - SP, Brazil, C.G.C. :
01.485.092/0002-39, phone : (15) 3238-6000, fax : (15) 3238-6001 (own), 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. : 01.485.092/0003-09, 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. : 01.485.092/0004-82, phone : (11)
6331-8526, fax : (11) 946-0643 (own), value not mentioned, # employees 1020.
(I.E.: 102.143.946.111)
Plant, Av. Roberto Gordon, 449/459 Piraporinha, São Paulo - SP, Brazil, C.G.C. :
01.485.092/0005-56, 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. : 01.485.092/0006-85, phone : (41) 2104-8800, fax : (41) 2104-8812 (own),
value not mentioned, # employees 428.
=============================================================================
COMPARATIVE FIGURES (values are in US$ Dollar)
Current Asset
Fixed Assets
Total Assets
Current. Liab
Long Term Lia
Net Worth
Net Sales
Gross Profit
Net Profit
Working Capit
%VAR
12/31/2007
CORP.LEG.
332.604.700
124.447.008
495.210.683
164.624.786
129.700.000
200.885.897
493.191.803
59.327.868
34.289.316
167.979.914
12/31/2008
CORP.LEG.
399.624.766
147.518.691
561.603.271
190.536.448
117.968.224
253.098.598
547.933.486
81.577.981
56.321.495
209.088.317
%VAR
20
18
13
15
-9
25
11
37
64
24
12/31/2009
CORP.LEG.
514.935.028
234.663.276
772.942.372
333.333.898
102.792.090
336.816.384
725.937.948
101.241.025
73.594.350
181.601.129
%VAR
28
59
37
74
-12
33
32
24
30
-13
= PERCENTAGE OF GROWTH FROM YEAR TO YEAR
BALANCE SHEET (Values are in US$ Dollar)
Financial Statements of 31/12/2009. (CORP.LEG.)
Cash
Accounts Receivable
Inventory
Marketable Securit.
Notes Receivable
Other Credits
30.063.276
164.505.649
71.967.231
144.025.988
18.217.514
86.155.367
Suppliers
Owing Banks
Fiscal Obligations
Accounts Payable
Dividen. Particip.
Provisions/Oblig.
80.215.819
134.612.994
11.817.514
70.466.101
22.879.661
13.341.807
CURRENT ASSETS
514.935.028
CURRENT LIABILITIES
333.333.898
LONG TERM RECEIVABLE
Investments
Real Estate
23.344.067
170.154.802
64.508.474
LONG TERM LIABILIT.
102.792.090
Capital
Reserves
254.237.288
82.579.096
PERMANENT ASSETS
234.663.276
NET WORTH
336.816.384
TOTAL LIABILITIES
772.942.372
TOTAL ASSETS
772.942.372
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
860.497.435
-134.559.487
725.937.948
-624.696.923
101.241.025
-37.595.384
-22.290.769
-50.471.282
74.064.615
-5.386.153
59.562.051
21.415.897
80.977.948
-60.512
89.146.327
-15.551.977
73.594.350
181.601.129
=============================================================================
Financial Statements of 31/12/2008. (Values are in US$ Dollar)(CORP.LEG.)
Cash
Accounts Receivable
Inventory
Marketable Securit.
Notes Receivable
Prepaid Expenses
Other Credits
2.998.130
116.685.981
46.651.869
163.351.869
5.313.551
14.519.158
50.104.205
Suppliers
Owing Banks
36.633.177
68.699.065
Fiscal Obligations
Accounts Payable
Dividen. Particip.
Provisions/Oblig.
21.006.074
46.077.102
2.818.224
15.302.803
CURRENT ASSETS
399.624.766
CURRENT LIABILITIES
190.536.448
LONG TERM RECEIVABLE
Investments
Real Estate
14.459.813
104.006.074
43.512.616
LONG TERM LIABILIT.
117.968.224
Capital
Reserves
210.280.373
42.818.224
PERMANENT ASSETS
147.518.691
NET WORTH
253.098.598
TOTAL LIABILITIES
561.603.271
TOTAL ASSETS
561.603.271
PROFIT AND LOSS STATEMENT IN 31/12/2008
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
644.346.788
-96.413.302
547.933.486
-466.355.504
81.577.981
-25.808.715
-19.622.935
-62.164.220
80.130.275
-1.772.477
52.339.908
Equity Earnings
Net Operating Inc.
Non-Operat Income
Pre-Tax Income
Income Tax Prov.
Net Income
Working Capital
14.754.128
67.094.036
-313.761
68.028.504
-11.707.009
56.321.495
209.088.317
=============================================================================
Financial Statements of 31/12/2007. (Values are in US$ Dollar)(CORP.LEG.)
Cash
Accounts Receivable
Inventory
Notes Receivable
3.420.085
104.035.897
45.171.367
2.974.786
Suppliers
Owing Banks
32.773.076
43.741.025
Fiscal Obligations
Accounts Payable
3.594.017
69.963.675
14.552.991
Other Credits
177.002.564
Provisions/Oblig.
CURRENT ASSETS
332.604.700
CURRENT LIABILITIES
164.624.786
38.158.974
90.783.333
33.663.675
LONG TERM LIABILIT.
129.700.000
Capital
Reserves
96.581.196
104.304.700
NET WORTH
200.885.897
TOTAL LIABILITIES
495.210.683
LONG TERM RECEIVABLE
Investments
Real Estate
PERMANENT ASSETS
TOTAL ASSETS
124.447.008
495.210.683
PROFIT AND LOSS STATEMENT IN 31/12/2007
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
562.796.311
-69.604.508
493.191.803
-433.863.934
59.327.868
-23.674.590
-16.013.114
-45.354.918
60.283.196
-1.041.393
33.527.049
7.128.688
40.655.737
-588.524
41.779.487
-7.490.170
34.289.316
167.979.914
==============================================================================
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
12/31/2007
CORP.LEG.
778.295.000
291.206.000
1.158.793.000
385.222.000
303.498.000
470.073.000
1.203.388.000
144.760.000
80.237.000
393.073.000
12/31/2008
CORP.LEG.
855.197.000
315.690.000
1.201.831.000
407.748.000
252.452.000
541.631.000
1.194.495.000
177.840.000
120.528.000
447.449.000
12/31/2009
CORP.LEG.
911.435.000
415.354.000
1.368.108.000
590.001.000
181.942.000
596.165.000
1.415.579.000
197.420.000
130.262.000
321.434.000
BALANCE SHEET (Values are in R$ Reais)
Financial Statements of 31/12/2009. (Values are in R$ Reais)(CORP.LEG.)
Cash
Accounts Receivable
Inventory
Marketable Securit.
Notes Receivable
53.212.000
291.175.000
127.382.000
254.926.000
32.245.000
Suppliers
Owing Banks
141.982.000
238.265.000
152.495.000
Fiscal Obligations
Accounts Payable
Dividen. Particip.
Provisions/Oblig.
20.917.000
124.725.000
40.497.000
23.615.000
Other Credits
CURRENT ASSETS
911.435.000
CURRENT LIABILITIES
590.001.000
LONG TERM RECEIVABLE
Investments
Real Estate
41.319.000
301.174.000
114.180.000
LONG TERM LIABILIT.
181.942.000
Capital
Reserves
450.000.000
146.165.000
PERMANENT ASSETS
415.354.000
NET WORTH
596.165.000
TOTAL ASSETS
1.368.108.000
TOTAL LIABILITIES
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
1.677.970.000
-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
-118.000
157.789.000
-27.527.000
130.262.000
321.434.000
1.368.108.000
=============================================================================
Financial Statements of 31/12/2008. (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
CURRENT ASSETS
855.197.000
CURRENT LIABILITIES
407.748.000
LONG TERM RECEIVABLE
Investments
Real Estate
30.944.000
222.573.000
93.117.000
LONG TERM LIABILIT.
252.452.000
Capital
Reserves
450.000.000
91.631.000
PERMANENT ASSETS
315.690.000
NET WORTH
541.631.000
TOTAL ASSETS
1.201.831.000
Fiscal Obligations
Accounts Payable
Dividen. Particip.
Provisions/Oblig.
TOTAL LIABILITIES
78.395.000
147.016.000
44.953.000
98.605.000
6.031.000
32.748.000
1.201.831.000
PROFIT AND LOSS STATEMENT IN 31/12/2008
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 Statements of 31/12/2007. (Values are in R$ Reais)(CORP.LEG.)
Cash
Accounts Receivable
Inventory
Notes Receivable
8.003.000
243.444.000
105.701.000
6.961.000
Suppliers
Owing Banks
76.689.000
102.354.000
Fiscal Obligations
Accounts Payable
8.410.000
163.715.000
Other Credits
414.186.000
Provisions/Oblig.
CURRENT ASSETS
778.295.000
CURRENT LIABILITIES
385.222.000
LONG TERM RECEIVABLE
Investments
Real Estate
89.292.000
212.433.000
78.773.000
LONG TERM LIABILIT.
303.498.000
Capital
Reserves
226.000.000
244.073.000
PERMANENT ASSETS
291.206.000
NET WORTH
470.073.000
TOTAL ASSETS
1.158.793.000
TOTAL LIABILITIES
34.054.000
1.158.793.000
PROFIT AND LOSS STATEMENT IN 31/12/2007
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
1.373.223.000
-169.835.000
1.203.388.000
-1.058.628.000
144.760.000
-57.766.000
-39.072.000
-110.666.000
147.091.000
-2.541.000
81.806.000
17.394.000
99.200.000
-1.436.000
97.764.000
-17.527.000
80.237.000
393.073.000
============================================================================
FINANCIAL - ECONOMIC RATIOS
ITEMS
31/12/2007
31/12/2008
31/12/2009
2,02
1,74
1,25
81,94
146,51
2,09
1,85
1,34
75,28
121,89
1,54
1,32
1,23
98,96
129,48
75,93
0,99
76,66
0,97
81,58
0,93
LIQUIDITY RATIOS:
Current Ratio
Quick Ratio
General Liquidity
Short Term Debt-to-Equity
Debt-to-Equity
EFFICIENCY RATIOS:
Collection Period
Asset Turnover
Inventory Turnover
Fixed Worth
10,91
61,94
11,74
58,28
10,08
69,67
12,02
8,24
6,95
6,92
17,06
14,88
12,24
10,27
10,02
22,25
13,94
11,15
10,13
9,52
21,85
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, 2009, the Working Capital was US$ 181.601.129,94, the General
Liquidity Ratio was 1,23 and the Current Ratio was 1,54.
Subject's Own Working Capital (Net Worth - Fixed Assets) was US$ 102.153.107,34.
Current Assets was US$ 514.935.028,24.
Current Liabilities was US$ 333.333.898,30.
General Debt Ratio was 129,48%.
Fixed Assets was US$ 234.663.276,83.
Gross Margin (Gross Result/Net Sales) was 13,94%.
Operating Margin (Operating Result/Net Sales) was 11,15%.
Profit Margin (Net Profit/Net Sales) was 10,13%.
The most recent Balance Sheet shows a Profit.
In comparison to the previous year, Net Worth changed by 33,07%.
Net Sales for the above period changed by 32,48% when compared to the same
period in the previous year.
Net Profit for the above period changed by 30,66% when compared to the same
period in the previous year.
1 - Financial statement accounts are expressed in US$ equivalent.
2 - The following explanations of the conversion of values to their US$ Dollar
equivalent are specific to the accounting method used.
3 - The accounting method used in the elaboration of each financial statement is
indicated directly under the date in each column: Corporate Legislation (Corp.
Leg.) relating to historic values without Restatement or with Integral
Restatement (Int. Rest.) monetarily corrected to year end values.
Financial statements prepared using the Corporate Legislation method are 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 Gross 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.
Financial statements prepared using the Integral Restatement method are treated
in the following manner: Balance Sheet and Profit & Loss accounts were converted
to US$ Dollar using the official US$ Dollar rate as of the statement closing.
Due to the differences, the Variance from one year to the next may not be
accurate when the accounting methods are different.
Official Dollar Rates:
Dec.
Dec.
Dec.
Dec.
Dec.
31,
31,
31,
31,
31,
2005:
2006:
2007:
2008:
2009:
US$
US$
US$
US$
US$
1.00
1.00
1.00
1.00
1.00
=
=
=
=
=
R$
R$
R$
R$
R$
2.34;
2.14;
1.77;
2.34;
1.75;
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