Balance sheets
December 31, 2008 and 2007
(In thousands of reais)
| Assets | Note | Consolidated | Parent company | ||
|---|---|---|---|---|---|
| 2008 | 2007 | 2008 | 2007 | ||
| Current assets | |||||
| Cash and cash equivalents | 5 | 15.888.596 | 13.070.849 | 11.268.314 | 7.847.949 |
| Marketable securities | 10 | 288.751 | 589.788 | ||
| Trade accounts receivable, net | 6 | 14.903.732 | 11.328.967 | 17.370.050 | 12.036.476 |
| Dividends receivable | 7.1 | 20.101 | 80.596 | 987.986 | 668.501 |
| Inventories | 8 | 19.977.171 | 17.599.001 | 13.847.969 | 12.800.138 |
| Taxes and contributions | 20.1 | 9.641.247 | 7.781.536 | 6.273.161 | 5.125.217 |
| Prepaid expenses | 1.393.879 | 1.429.829 | 1.078.815 | 1.095.815 | |
| Other current assets | 1.461.801 | 1.493.200 | 430.312 | 579.999 | |
| 63.575.278 | 53.373.766 | 51.256.607 | 40.154.095 | ||
| Non-current assets | |||||
| Long-term receivables | |||||
| Trade accounts receivable, net | 6 | 1.326.522 | 2.901.902 | 91.626.391 | 48.203.621 |
| Petroleum and alcohol account - STN | 9 | 809.673 | 797.851 | 809.673 | 797.851 |
| Marketable securities | 10 | 4.066.280 | 3.922.370 | 3.597.762 | 3.386.999 |
| Project financing | 11.2 | 2.039.293 | 1.503.713 | ||
| Deposits in court | 12 | 1.853.092 | 1.693.495 | 1.542.378 | 1.445.658 |
| Prepaid expenses | 1.400.072 | 1.514.301 | 444.904 | 809.332 | |
| Advance for pension plan | 21 | 1.296.810 | 1.296.810 | ||
| Deferred income and social contribution taxes | 20.3 | 10.238.308 | 8.333.490 | 6.614.741 | 5.557.483 |
| Inventories | 8 | 303.929 | 236.753 | 303.929 | 236.753 |
| Other long-term receivables | 1.256.967 | 1.325.865 | 640.177 | 711.399 | |
| 21.254.843 | 22.022.837 | 107.619.248 | 63.949.619 | ||
| Investments | 13 | 5.106.495 | 7.822.074 | 28.306.947 | 26.068.789 |
| Property, plant and equipment | 14 | 190.754.167 | 139.940.726 | 119.207.092 | 77.252.144 |
| Intangible assets | 15 | 8.003.213 | 5.532.053 | 3.781.716 | 3.074.677 |
| Deferred charges | 3.469.846 | 2.536.344 | 839.257 | 733.686 | |
| 228.588.564 | 177.854.034 | 259.754.260 | 171.078.915 | ||
| 292.163.842 | 231.227.800 | 311.010.867 | 211.233.010 | ||
See the accompanying notes to the financial statements.
| Liabilities | Note | Consolidated | parent company | ||
|---|---|---|---|---|---|
| 2008 | 2007 | 2008 | 2007 | ||
| Current liabilities | |||||
| Financing | 16 | 12.451.137 | 7.853.781 | 2.276.822 | 625.922 |
| Interest on financing | 16 | 823.330 | 647.449 | 229.334 | 122.596 |
| Commitments with the transfer of benefits, risks and controls of assets | 17 | 585.045 | 5.052.563 | ||
| Accounts payable to suppliers | 17.027.579 | 13.791.198 | 72.032.402 | 36.456.554 | |
| Taxes and contributions | 20.2 | 12.741.382 | 10.006.272 | 10.537.882 | 8.493.492 |
| Proposed dividends | 24 | 9.914.707 | 6.580.557 | 9.914.707 | 6.580.557 |
| Project financing | 11.4 | 188.858 | 41.470 | 401.148 | 408.234 |
| Pension plan | 21 | 627.988 | 424.259 | 579.051 | 386.091 |
| Healthcare benefits plan | 21 | 523.714 | 455.736 | 493.221 | 429.666 |
| Accrued vacation pay and charges | 2.016.430 | 1.688.960 | 1.561.017 | 1.375.912 | |
| Provision for contingencies | 25 | 54.000 | 54.000 | 54.000 | 54.000 |
| Advances from clients | 666.107 | 493.217 | 298.032 | 120.326 | |
| Provision for profit-sharing for employees and management | 1.344.526 | 1.011.914 | 1.138.078 | 844.412 | |
| Deferred income | 5.929 | ||||
| Other accounts and expenses payable | 3.586.429 | 4.506.198 | 7.130.338 | 4.488.096 | |
| 62.557.161 | 47.555.011 | 11.698.595 | 60.385.858 | ||
| Non-current | |||||
| Financing | 16 | 50.049.441 | 29.806.589 | 11.456.564 | 4.811.988 |
| Contractual commitments with the transfer of benefits, risks and controls of assets | 17 | 804.998 | 12.701.708 | ||
| Subsidiaries and affiliated companies | 7.2 | 49.289 | 94.664 | 1.100.528 | 2.374.256 |
| Deferred income and social contribution taxes | 20.4 | 13.165.132 | 10.418.754 | 10.821.894 | 8.433.677 |
| Pension plan | 21 | 3.475.581 | 4.520.145 | 2.966.084 | 4.138.672 |
| Healthcare benefits plan | 21 | 10.296.679 | 9.272.183 | 9.510.037 | 8.554.276 |
| Provision for contingencies | 25 | 890.326 | 613.969 | 203.285 | 208.415 |
| Provision for dismantling of areas | 4.8 | 6.581.618 | 6.132.359 | 5.975.787 | 5.854.072 |
| Deferred income | 1.292.906 | 1.391.788 | 76.574 | ||
| Other accounts and expenses payable | 1.982.355 | 1.262.114 | 448.672 | 459.561 | |
| 88.588.325 | 63.512.565 | 55.261.133 | 34.834.917 | ||
| Minority interest | 2.653.074 | 6.306.097 | |||
| Shareholders' equity | 23 | ||||
| Realized capital | 78.966.691 | 52.644.460 | 78.966.691 | 52.644.460 | |
| Capital reserves | 514.857 | 1.553.831 | 514.857 | 1.553.831 | |
| Revaluation reserve | 10.284 | 61.520 | 10.284 | 61.520 | |
| Profit reserves | 58.643.049 | 59.594.316 | 64.442.783 | 61.752.424 | |
| Equity valuation adjustments | (405.863) | (336.180) | |||
| Accumulated conversion adjustments | 636.264 | 452.704 | |||
| 138.365.282 | 113.854.127 | 144.051.139 | 116.012.235 | ||
| 292.163.842 | 231.227.800 | 311.010.867 | 211.233.010 | ||
- Financial analysis
- Economic and financial summary
- Results by business segment
- Consolidated result
- Effects of adoption of law 11.638/07 and provisional measure 449/08
- Result per company
- Sales volume
- Inventories
- Indebtedness
- Return on capital expenditure (roce) and return on equity (roe)
- Shareholders’ equity, distribution of results and dividends
- Financial Statements
- Annexes