DRE GPA CONSOLIDADO - PÓS IFRS 16 (PÓS SPIN OFF)

DRE GPA CONSOLIDADO - PÓS IFRS 16 (PRÉ SPIN OFF)

DRE GPA CONSOLIDADO - PRÉ IFRS 16 (PRÉ SPIN OFF)
DRE GPA BRASIL (varejo) - PÓS IFRS 16
DRE GPA BRASIL (varejo) - PRÉ IFRS 16
DRE ASSAÍ - PÓS IFRS 16
DRE ASSAÍ - PRÉ IFRS 16
DRE GRUPO ÉXITO - PÓS IFRS 16
BALANÇO PATRIMONIAL - GPA CONSOLIDADO
BALANÇO PATRIMONIAL - GPA BRASIL
BALANÇO PATRIMONIAL - GRUPO ÉXITO
ENDIVIDAMENTO
CAPEX
LOJAS
 m
GPA Consolidado (R$ milhões) 1T21 4T20 3T20 2T20 1T20 4T19 3T19 2T19 1T19 4T18 3T18 2T18 1T18 4T17 3T17 2T17 1T17 4T16 3T16 2T16 1T16 4T15 3T15 2T15 1T15 4T14 3T14 2T14 1T14 4T13 3T13 2T13 1T13 4T12 3T12 2T12 1T12 4T11 3T11 2T11 1T11 4T10 3T10 2T10 1T10
Ativo Circulante 13,650 17,641 20,818 21,153 20,718 19,968 20,897 12,002 36,923 40,851 35,429 34,791 34,587 33,015 27,105 26,714 27,717 31,651 19,918 19,448 21,076 24,961 19,622 19,375 21,297 24,133 18,329 15,669 16,382 18,609 14,849 14,910 15,886 16,680 16,757 16,694 15,466 17,276 15,438 15,295 17,276 14,673 8,706 8,254 6,921
Caixas e Equivalentes de Caixa 3,891 8,711 7,283 7,736 6,152 7,954 12,656 4,705 2,359 4,369 2,625 3,054 1,701 3,792 1,266 2,366 1,683 5,112 3,385 3,716 4,448 11,015 5,414 6,811 6,145 11,149 6,601 5,379 5,374 8,391 4,803 5,060 6,002 7,086 5,551 5,473 3,746 4,970 3,575 3,963 4,970 4,419 2,128 1,768 1,705
Contas a Receber 596 686 717 805 980 727 364 317 765 384 953 296 857 618 1,006 477 663 543 3,907 4,310 5,321 3,210 3,755 2,636 4,582 3,210 2,931 2,497 2,410 2,516 2,365 2,501 2,846 2,646 2,381 2,253 2,284 2,431 2,054 1,985 2,431 1,808 556 828 1,531
Cartões de Crédito 82 86 146 186 433 66 101 49 488 92 659 251 594 322 806 307 404 241 1,802 1,982 2,851 664 1,223 158 1,761 220 317 273 189 276 235 343 755 444 486 389 381 474 314 202 478 274 353 643 533
Carnês - Financiamento ao Consumidor - - - - - - - - - - - - - - - - - - 1,813 1,806 1,815 1,877 1,834 1,986 2,154 2,475 2,208 2,259 2,245 2,249 2,149 2,127 2,078 2,078 1,947 1,961 1,988 1,937 1,818 1,835 1,985 1,499 - - -
Tickets de vendas e duplicatas a receber 508 572 541 591 500 527 186 171 216 196 234 45 206 223 165 127 167 209 523 792 804 884 874 692 768 599 571 174 167 202 200 230 185 305 133 105 106 227 117 131 175 201 18 29 29
Cheques Pré-Datados - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 4 4 4 4 5 4 6 7 7 10
Provisão para Devedores Duvidosos (48) (43) (49) (48) (36) (32) (5) (4) (5) (5) (4) - (4) (6) (5) (6) (22) (2) (310) (357) (360) (379) (384) (342) (328) (340) (325) (231) (227) (229) (233) (214) (197) (189) (198) (205) (195) (211) (199) (189) (211) (173) (20) (18) (8)
Provenientes de Acordos Comerciais 54 71 79 76 83 166 82 101 66 101 64 - 61 79 40 49 114 95 79 87 211 164 208 142 227 256 160 22 36 18 15 15 25 9 13 389 392 447 303 279 447 421 407 255 342
Fundo de Recebíveis (FIDC) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 2,473 2,381 2,364 2,559 2,435 2,341 2,559 1,818 1,183 1,152 1,188
Estoques 6,775 6,536 9,870 9,138 9,713 8,631 6,046 5,692 5,732 5,909 5,540 5,136 4,758 4,822 4,634 4,427 4,578 4,641 7,864 8,943 9,161 8,966 8,617 8,212 8,936 8,405 7,455 6,464 7,166 6,382 6,252 5,896 5,676 5,760 5,185 4,939 5,178 5,553 5,097 4,816 5,553 4,824 3,016 2,816 2,189
Tributos a Recuperar 1,538 983 1,791 1,741 1,548 1,692 909 615 648 679 363 532 573 597 395 449 617 674 1,563 1,547 1,228 1,080 1,100 988 865 808 750 760 760 908 976 958 834 871 802 826 1,032 908 1,412 1,347 908 888 728 705 358
Ativos Disponíveis para Venda 111 109 110 586 1,034 223 94 24 26,745 29,018 25,434 25,263 26,129 22,775 19,438 18,568 19,621 20,303 2,562 9 13 15 15 22 21 22 22 26 41 39 52 51 - - - - - - - - - - - - -
Dividendos a receber - - - - - - - - - - - - - - - - - - - - - - - 27 27 26 - - - 12 - - - - - - - - - - - - - - -
Despesas Antecipadas e Outras Contas a Receber 740 616 1,047 1,148 1,291 741 827 647 674 491 515 510 569 413 366 427 555 378 638 922 905 675 720 679 721 513 570 544 630 361 401 443 527 317 367 432 470 408 563 564 408 495 362 230 273
Ativo Não Circulante 36,383 35,654 42,420 41,932 39,377 38,507 22,388 21,881 21,498 21,138 19,479 18,618 18,516 14,692 14,412 14,035 13,420 13,566 22,038 22,586 22,407 22,282 22,645 22,114 21,830 21,367 20,899 19,793 19,576 19,398 18,726 18,492 18,352 18,152 17,574 17,261 16,564 16,493 15,515 15,128 16,493 15,099 9,903 9,673 9,272
Realizável a Longo Prazo 4,749 4,713 4,563 4,652 4,828 4,321 4,259 4,350 4,253 4,045 4,696 4,253 3,791 3,452 3,036 2,898 2,203 2,137 4,907 5,113 4,982 4,955 5,368 5,048 4,999 4,747 4,690 4,549 4,440 4,334 4,741 4,716 4,733 4,699 4,532 4,405 3,893 3,855 3,223 3,061 3,855 3,156 2,550 2,544 1,910
Aplicações Financeiras - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 7 - - -
Contas a Receber 44 5 48 16 0 1 1 71 60 4 53 3 42 80 - - - - 147 119 123 98 89 78 86 105 96 97 103 115 113 99 98 108 95 556 543 111 529 612 556 528 469 443 428
Cartões de Crédito 44 5 48 16 0 1 1 71 60 4 53 3 42 80 - - - - 22 15 29 - - - - - - - - - - - - - - - - - - - - - - - -
Paes Mendonça - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 462 448 - 439 434 445 421 - - -
Carnês - Financiamento ao Consumidor - - - - - - - - - - - - - - - - - - 143 119 106 111 99 87 94 115 105 106 112 125 107 99 106 117 103 102 101 118 96 98 118 115 - - -
Outros - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 16 8 - - - - - - - 89 - - - - -
Provisão para Devedores Duvidosos - - - - - - - - - - - - - - - - - - (18) (15) (12) (13) (10) (9) (8) (10) (9) (9) (9) (10) (9) (8) (8) (9) (8) (7) (6) (7) (5) (9) (7) (8) - - -
Estoques - - - - - - - - - - - - - - - - - - - - - - - - 172 172 172 172 172 172 172 172 172 172 111 111 - 14 - - - - - - -
Tributos a Recuperar 2,930 3,100 2,442 2,717 3,167 2,702 2,903 2,919 2,876 2,745 2,662 2,335 1,785 1,747 1,350 1,278 653 632 2,247 2,473 2,419 2,467 2,664 2,507 2,350 2,136 1,663 1,583 1,532 1,429 1,244 1,258 1,280 1,232 1,122 1,030 721 730 93 84 730 214 209 192 138
Instrumentos financeiros - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 362 361 360 359 356 355 304 304 416 416 304 304 - - -
Imposto de Renda e Contribuição Social Diferidos 79 - 339 362 399 337 335 319 313 298 353 325 414 126 172 178 188 170 296 330 364 406 568 500 505 491 861 870 918 951 1,025 1,057 1,047 1,079 1,159 1,185 1,211 1,250 1,189 1,180 1,250 1,136 1,041 1,107 600
Partes Relacionadas 219 154 109 119 100 104 38 37 39 34 33 31 52 25 22 19 28 17 345 342 312 309 358 357 333 313 264 204 167 172 200 199 187 178 169 146 152 133 221 141 133 176 - - -
Depósitos para Recursos Judiciais 591 563 760 732 794 795 827 811 785 776 799 784 788 762 789 738 680 661 1,197 1,151 1,067 999 1,023 945 880 857 912 883 844 815 998 950 968 952 938 899 809 738 660 594 738 646 524 473 367
Despesas Antecipadas e Outros 888 891 865 705 369 382 155 194 181 188 798 775 711 713 702 684 655 657 675 699 697 676 667 661 673 673 723 738 704 680 626 619 621 618 581 123 153 575 116 34 144 145 18 35 20
Investimentos 1,316 1,250 816 848 617 609 271 232 215 203 228 209 188 177 283 265 348 339 488 469 439 407 504 507 447 426 393 359 331 310 390 374 371 362 366 269 258 340 243 232 253 233 294 238 783
Propriedades para Investimento 3,764 3,639 3,624 3,424 3,248 3,051 - - 20 20 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Imobilizado 20,275 19,888 26,438 24,778 24,248 24,290 14,942 14,412 14,167 14,053 12,485 12,268 12,618 9,138 9,186 8,985 8,972 9,182 10,603 10,532 10,419 10,377 10,192 10,023 9,832 9,699 9,396 9,187 9,107 9,053 8,660 8,506 8,295 8,114 7,734 7,554 7,436 7,358 7,145 6,981 7,358 6,794 5,651 5,438 5,174
Intangível 6,278 6,164 6,979 8,230 6,436 6,236 2,916 2,887 2,843 2,817 2,069 1,888 1,919 1,924 1,908 1,887 1,897 1,908 6,039 6,472 6,567 6,543 6,581 6,537 6,552 6,495 6,419 5,699 5,698 5,701 4,936 4,897 4,953 4,976 4,942 5,032 4,977 4,939 4,904 4,855 5,026 4,916 1,453 1,454 1,406
TOTAL DO ATIVO 50,034 53,295 63,238 63,086 60,095 58,474 43,284 33,883 58,421 61,989 54,908 53,409 53,103 47,707 41,517 40,749 41,137 45,217 41,956 42,034 43,483 47,243 42,267 41,490 43,127 45,500 39,228 35,462 35,958 38,007 33,576 33,402 34,238 34,832 34,331 33,955 32,030 33,769 30,953 30,423 33,769 29,772 18,608 17,926 16,193
Passivo Circulante 15,727 18,483 22,950 21,596 22,422 23,135 14,974 12,476 32,713 37,586 30,554 29,948 29,988 28,992 23,054 22,161 23,912 27,582 22,328 21,666 22,691 25,274 20,200 19,313 20,833 23,847 17,285 14,597 14,295 17,010 13,235 13,310 13,675 13,391 11,467 11,297 11,445 13,501 10,220 9,962 13,501 10,923 5,904 5,856 4,661
Fornecedores 7,763 11,424 11,971 12,211 12,038 14,887 6,831 6,827 6,481 9,246 6,439 6,370 5,510 8,129 5,495 5,172 5,241 7,232 8,520 10,268 10,849 15,508 10,792 10,291 10,999 13,322 8,261 6,753 7,005 8,548 5,682 5,857 5,769 6,240 4,503 4,570 4,716 6,279 4,623 4,475 6,279 5,369 3,274 3,264 2,651
Fornecedores Convênio - - - - - - - - - - - - - - - - - - 341 430 350 1,055 - - - - - - - - - - - - - - - - - - - - - - -
Empréstimos e Financiamentos 366 1,089 2,861 3,314 2,608 1,201 1,408 923 1,275 916 1,310 1,271 834 770 901 1,439 1,379 2,389 4,014 3,184 3,190 1,469 817 781 806 1,182 1,149 1,054 901 1,201 1,124 1,083 1,445 1,044 1,586 1,581 1,915 2,153 1,205 1,261 2,153 1,111 826 810 781
CDCI - - - - - - - - - - - - - - - - - - 2,461 2,355 2,293 2,308 2,153 2,311 2,526 2,740 2,627 2,624 2,667 2,726 2,521 2,463 2,470 2,499 2,277 2,227 2,211 2,263 2,029 1,948 2,263 1,283 - - -
Debêntures 2,608 1,220 3,316 1,014 2,963 2,287 4,209 2,150 1,067 1,068 507 500 506 481 517 47 852 568 518 575 522 38 1,276 1,681 2,498 2,672 1,850 1,380 691 1,245 1,104 1,029 1,132 668 848 792 527 502 262 278 502 521 491 503 262
Passivo de Arrendamento 947 947 1,029 943 920 937 587 531 465 507 554 481 425 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Salário e Encargos Sociais 814 897 1,291 1,175 1,031 980 769 652 694 686 696 615 664 639 647 602 609 614 1,111 1,052 1,001 1,023 914 805 926 864 1,010 850 781 796 939 776 710 729 965 837 712 759 803 645 759 589 400 365 217
Impostos e Contribuições a Recolher 737 585 797 897 648 531 355 467 363 370 285 264 272 300 211 363 203 254 696 729 932 829 768 684 652 867 733 769 720 969 744 728 725 651 162 180 199 332 239 300 332 293 185 283 192
Dividendos Propostos 536 556 14 11 228 168 1 32 164 57 98 0 78 78 (0) - - - 3 2 2 1 1 1 321 321 1 1 152 152 100 1 169 169 1 1 103 103 - 2 103 116 3 3 94
Financiamento Compra de Imóveis 108 100 128 101 133 231 82 64 47 149 50 39 24 116 33 28 49 116 136 113 70 113 64 72 37 98 31 46 35 36 54 102 105 88 1 14 14 14 14 14 14 14 14 14 14
Aluguéis a Pagar - - - - - - - - - - 9 12 11 128 89 75 76 110 126 119 133 151 103 92 104 115 65 66 70 112 50 48 49 83 44 44 42 49 44 44 49 68 64 48 45
Aquisição de Participação de Acionistas Não Controladores - - - - - - - - - - - - - - - - 8 7 7 82 80 76 71 77 75 73 72 72 70 69 68 68 68 63 61 58 56 55 53 68 55 297 173 175 172
Partes Relacionadas 230 194 194 200 192 214 146 142 160 143 160 145 160 153 167 160 145 147 171 1,247 1,446 563 1,647 1,286 924 261 318 23 25 33 35 49 78 80 60 52 88 28 22 13 28 274 94 37 15
Propaganda 29 35 48 39 42 25 20 33 31 59 35 43 39 26 26 32 35 43 66 67 83 121 62 78 64 94 63 71 71 89 69 82 84 113 76 85 88 90 64 34 90 34 25 45 26
Provisão para Reestruturação 16 17 14 14 41 6 5 4 7 10 9 13 3 3 3 2 3 4 5 8 10 6 8 8 - 1 3 4 23 21 1 3 20 25 13 9 12 13 6 6 13 6 2 10 -
Impostos parcelados - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 155 162 169 94 171 85 45 171 54 54 52 -
Receitas a apropriar 260 297 268 368 292 365 127 171 213 250 76 151 125 146 56 79 103 224 327 350 426 420 306 309 236 214 139 141 131 115 83 85 90 92 78 77 79 82 78 85 82 63 20 18 -
Passivos sobre Ativos Não-Correntes a Venda - - - 0 - 0 0 0 21,504 23,874 20,088 19,837 21,131 17,824 14,642 13,885 14,961 15,632 3,124 - - - - - - - - - - - - - - - - - - - - - - - - - -
Outros 1,314 1,122 1,019 1,309 1,286 1,301 435 479 243 252 238 208 205 198 267 277 248 242 702 1,086 1,304 1,594 1,217 837 665 1,023 964 741 953 898 660 935 762 691 631 601 587 609 693 743 609 830 278 229 192
Passivo Não Circulante 17,124 18,005 24,046 25,871 23,735 21,791 17,538 10,755 12,140 11,242 11,365 10,512 10,686 5,674 5,635 5,872 4,674 5,038 6,992 7,484 7,517 8,616 8,274 7,767 7,577
 Endividamento Índice

(R$ milhões) 1T21 4T20 3T20(*) 2T20(*) 1T20(*) 4T19(*) 3T19

Dívida Curto Prazo (2,974) (2,309) (5,864) (3,892) (5,137) (3,415) (5,355)
Empréstimos e Financiamentos (366) (1,089) (2,548) (2,878) (2,175) (1,129) (1,146)
Debêntures (2,608) (1,220) (3,316) (1,014) (2,963) (2,287) (4,209)
Dívida Longo Prazo (5,760) (6,831) (11,204) (13,300) (12,222) (10,693) (9,643)
Empréstimos e Financiamentos (4,259) (3,453) (3,124) (2,739) (1,428) (1,117) (95)
Debêntures (1,501) (3,378) (8,080) (10,561) (10,793) (9,576) (9,548)
Dívida Bruta (8,734) (9,140) (17,068) (17,192) (17,359) (14,108) (14,997)
Caixa e Aplicações Financeiras 3,891 8,711 7,283 7,736 6,152 7,954 12,656
Dívida Líquida (4,843) (429) (9,785) (9,456) (11,207) (6,154) (2,342)
EBITDA(1) 2,798 2,625 4,547 4,151 4,315 4,006 2,728
(1)
Dívida Líquida / EBITDA -1.7x -0.2x -2.2x -2.3x -2.6x -1.5x -0.9x
Carteira de Recebíveis(2) 126 91 194 202 433 66 102
Dívida Líquida incluindo Recebíveis (4,717) (338) (9,591) (9,254) (10,774) (6,087) (2,240)
Dívida Líquida incluindo Recebíveis (2) / EBITDA(1) -1.7x -0.1x -2.1x -2.2x -2.5x -1.5x -0.8x
Para fins de cálculo, a Companhia não considera os passivos de arrendamento relacionados ao IFRS 16
Os valores acima consideram a operação de cash & carry (Assaí) até o 3T20
(1) EBITDA Pré IFRS 16 acumulado dos últimos 12 meses.
(2) Cartão de Crédito
(*) EBITDA Pro Forma Ajustado dos últimos 12 meses
 2T19 1T19 4T18 3T18 2T18 1T18 4T17 3T17 2T17 1T17 4T16 3T16 2T16 1T16

(3,025) (2,288) (1,941) (1,750) (1,733) (1,339) (1,250) (1,387) (1,437) (2,231) (2,957) (4,532) (2,965) (2,874)
(875) (1,221) (873) (1,243) (1,233) (834) (770) (870) (1,390) (1,379) (2,389) (4,014) (2,390) (2,351)
(2,150) (1,067) (1,068) (507) (500) (506) (481) (517) (47) (852) (568) (518) (575) (522)
(3,079) (4,151) (3,347) (4,696) (3,953) (3,950) (3,309) (3,321) (3,638) (2,569) (2,912) (2,149) (2,551) (2,548)
(256) (261) (269) (607) (615) (614) (775) (789) (658) (663) (1,008) (1,250) (1,653) (1,650)
(2,823) (3,890) (3,078) (4,089) (3,338) (3,336) (2,534) (2,532) (2,980) (1,906) (1,904) (898) (898) (898)
(6,104) (6,439) (5,289) (6,446) (5,686) (5,289) (4,559) (4,708) (5,075) (4,800) (5,869) (6,680) (5,515) (5,421)
4,705 2,359 4,369 2,625 3,054 1,701 3,792 1,266 2,366 1,683 5,112 3,385 1,426 2,386
(1,398) (4,079) (919) (3,822) (2,631) (3,588) (767) (3,442) (2,709) (3,117) (757) (3,296) (4,089) (3,035)
2,947 3,371 3,278 2,836 2,642 2,329 2,314 2,031 2,076 1,757 1,618 1,932 2,392 2,150
-0.5x -1.2x -0.3x -1.3x -1.0x -1.5x -0.3x -1.7x -1.3x -1.8x -0.5x -1.7x -1.7x -1.4x
120 547 96 711 253 636 402 806 307 404 241 402 820 37
(1,278) (3,532) (824) (3,110) (2,378) (2,952) (366) (2,637) (2,402) (2,712) (516) (2,894) (3,268) (2,998)
-0.4x -1.0x -0.3x -1.1x -0.9x -1.3x -0.2x -1.3x -1.2x -1.5x -0.3x -1.5x -1.4x -1.4x
 4T15 3T15 2T15 1T15 4T14 3T14 2T14 1T14 4T13 3T13 2T13 1T13 4T12 3T12

(1,130) (2,093) (2,462) (3,304) (3,854) (2,999) (2,434) (1,593) (2,446) (2,228) (2,112) (2,577) (1,712) (2,435)
(1,092) (817) (781) (806) (1,182) (1,149) (1,054) (901) (1,201) (1,124) (1,083) (1,445) (1,044) (1,586)
(38) (1,276) (1,681) (2,498) (2,672) (1,850) (1,380) (691) (1,245) (1,104) (1,029) (1,132) (668) (848)
(3,577) (4,267) (3,750) (3,419) (2,998) (3,817) (3,273) (4,399) (4,182) (4,621) (4,545) (5,008) (6,151) (5,657)
(2,680) (3,370) (2,854) (2,523) (2,102) (1,719) (1,673) (2,000) (1,583) (1,724) (1,649) (2,014) (2,409) (1,831)
(897) (897) (897) (896) (896) (2,097) (1,600) (2,399) (2,599) (2,897) (2,896) (2,995) (3,741) (3,827)
(4,707) (6,360) (6,213) (6,723) (6,852) (6,815) (5,706) (5,992) (6,628) (6,849) (6,657) (7,586) (7,863) (8,092)
3,699 5,414 6,811 6,145 11,149 6,601 5,379 5,374 8,391 4,803 5,060 6,002 7,086 5,551
(1,008) (3,221) (1,811) (3,217) 4,297 (214) (327) (617) 1,763 (2,046) (1,597) (1,584) (777) (2,541)
2,319 3,865 4,421 4,828 4,929 4,614 4,483 4,002 3,814 3,839 3,598 3,790 3,703 3,362
-0.4x -0.8x -0.4x -0.7x 0.9x 0.0x -0.1x -0.2x 0.5x -0.5x -0.4x -0.4x -0.2x -0.8x
136 1,223 158 1,761
(873) (1,998) (1,653) (1,456) 4,297 (214) (327) (617) 1,763 (2,046) (1,597) (1,584) (777) (2,541)
-0.4x -0.5x -0.4x -0.3x 0.9x 0.0x -0.1x -0.2x 0.5x -0.5x -0.4x -0.4x -0.2x -0.8x
 2T12 1T12 4T11 3T11 2T11 1T11 4T10 3T10 2T10 1T10

(2,373) (2,442) (2,654) (1,466) (1,539) (2,654) (1,632) (1,317) (1,313) (1,043)
(1,581) (1,915) (2,153) (1,205) (1,261) (2,153) (1,111) (826) (810) (781)
(792) (527) (502) (262) (278) (502) (521) (491) (503) (262)
(5,658) (3,827) (3,691) (4,300) (4,154) (3,691) (3,209) (2,812) (2,308) (2,103)
(1,844) (1,529) (1,554) (2,770) (2,666) (1,554) (2,142) (1,761) (1,272) (864)
(3,814) (2,298) (2,138) (1,529) (1,488) (2,138) (1,067) (1,052) (1,036) (1,239)
(8,031) (6,269) (6,346) (5,766) (5,693) (6,346) (4,841) (4,130) (3,621) (3,146)
5,473 3,746 4,970 3,575 3,963 4,970 4,419 2,128 1,768 1,705
(2,557) (2,523) (1,376) (2,192) (1,730) (1,376) (423) (2,002) (1,853) (1,441)
3,230 3,010 2,816 2,462 2,290 2,082 1,947 1,804 1,663 1,635
-0.8x -0.8x -0.5x -0.9x -0.8x -0.7x -0.2x -1.1x -1.1x -0.9x

(2,557) (2,523) (1,376) (2,192) (1,730) (1,376) (423) (2,002) (1,853) (1,441)
-0.8x -0.8x -0.5x -0.9x -0.8x -0.7x -0.2x -1.1x -1.1x -0.9x
 ANALISE DE LIQUIDEZ

PERíODO 2014 4T 2015 4T 2016 4T

Ativo circulante 24132.621617131 24960.645635288 31651
Passivo circulante 23846.97504377 25274.093396392 27582
Passivo não circulante 7169.7354576865 8616.4289934898 5038
estoques 172 0 4641
adiantamentos a fornecedores 672.85804095479 676.19905615 657
caixa e equivalentes de caixa 11149.054137383 11,015 5112

Patrimonio liquido 14482.463818091 13352 12597

FInanciamentos, Empréstimos CP 23846.97504377 1468.8576274827 2389
Financiamentos, Empréstimos LP 2101.92850363 3099.8565386725 1008
Debêntures CP 2672.309 37.59599846 568
Debêntures LP 896 897.32574756 1904

4° TRIMESTRE 2015 4T 2016 4T

Liquidez Corrente 1.01 0.99 1.15
Liquidez Seca 0.98 0.96 0.96
Liquidez Imediata 0.47 0.44 0.19
4° TRIMESTRE 2015 4T 2016 4T
EG- ENDIVIDAMENTO GERAL 68.17 71.74 82.46
ELP- ENDIVIDAMENTO DE LONGO PRAZO 15.76 18.24 11.14
EO- ENDIVIDAMENTO ONEROSO 64.87 11.65 12.98

LIQUIDEZ GPA
1.40 90.00
80.00
1.20
70.00
1.00 60.00
0.80 50.00
40.00
0.60
30.00
0.40 20.00
0.20 10.00
0.00
0.00 1 2
2015 4T 2016 4T 2017 4T 2018 4T 2019 4T 2020 4T
EG- ENDIV
Row 22 Linear (Row 22) EO- ENDIV
Row 23 Row 24
0.00
2015 4T 2016 4T 2017 4T 2018 4T 2019 4T 2020 4T

Row 22 Linear (Row 22)

Row 23 Row 24
 𝑳𝒊𝒒𝒖𝒊𝒅𝒆𝒛 𝑪𝒐𝒓𝒓𝒆𝒏𝒕𝒆=(𝐴𝑡𝑖

E LIQUIDEZ
𝑳𝒊𝒒𝒖𝒊𝒅𝒆𝒛 𝑺𝒆𝒄𝒂=(𝐴𝑡𝑖𝑣𝑜 𝐶𝑖
2017 4T 2018 4T 2019 4T 2020 4T
33015.449002084 40850.768155531 19967.934985763 17641
28991.553867164 37586.496499926 23134.536285535 18482.630425105
5673.6736535022 11242.465866724 21791.318989655 18005.44637948
0 0 0 0 𝑳𝒊𝒒𝒖𝒊𝒅𝒆𝒛 𝑰𝒎𝒆𝒅𝒊𝒂𝒕𝒂=(𝐶
712.92680516 188.14195149 381.98929224773 891.27575977
3791.6252919642 4369.4495469721 7954.2856555094 8711

13042.169921887 13159.587662095 13548.626890112 16806.993563393 𝐸𝐺=(𝑃𝑎𝑠𝑠𝑖𝑣𝑜 𝐶𝑖𝑟𝑐𝑢𝑙𝑎𝑛𝑡𝑒

769.62162825 916.10107723 1200.699997324 1088.9681353
802.51370298 313.48876935 1129.825470109 3463.67198058
480.52690749 1068.33984742 2286.60985283 1220
2534.21054538 2437.59749147 9575.72047238 3378
𝐸𝐿𝑃=(𝑃𝑎𝑠𝑠𝑖𝑣𝑜 𝑁ã𝑜 𝐶𝑖𝑟𝑐𝑢𝑙

2017 4T 2018 4T 2019 4T 2020 4T

1.14 1.09 0.86 0.95
1.11 1.08 0.85 0.91
𝐸𝑂=(𝐹𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑚𝑒𝑛𝑡𝑜𝑠, 𝐸𝑚
0.13 0.12 0.34 0.47
2017 4T 2018 4T 2019 4T 2020 4T
82.62 85.63 76.08 68.25
11.89 18.14 37.27 33.78
9.61 7.64 24.27 17.17

ENDIVIDAMENTO GPA
90.00
80.00
70.00
60.00
50.00
40.00
30.00
20.00
10.00
0.00
1 2 3 4 5 6 7

EG- ENDIVIDAMENTO GERAL ELP- ENDIVIDAMENTO DE LONGO PRAZO

EO- ENDIVIDAMENTO ONEROSO
𝒛 𝑪𝒐𝒓𝒓𝒆𝒏𝒕𝒆=(𝐴𝑡𝑖𝑣𝑜 𝐶𝑖𝑟𝑐𝑢𝑙𝑎𝑛𝑡𝑒)/(𝑃𝑎𝑠𝑠𝑖𝑣𝑜 𝐶𝑖𝑟𝑐𝑢𝑙𝑎𝑛𝑡𝑒)

𝑺𝒆𝒄𝒂=(𝐴𝑡𝑖𝑣𝑜 𝐶𝑖𝑟𝑐𝑢𝑙𝑎𝑛𝑡𝑒−𝐸𝑠𝑡𝑜𝑞𝑢𝑒𝑠 −𝐴𝑑𝑖𝑎𝑛𝑡𝑎𝑚𝑒𝑛𝑡𝑜 𝑎 𝐹𝑜𝑟𝑛𝑒𝑐𝑒𝑑𝑜𝑟𝑒𝑠)/(𝑃𝑎𝑠𝑠𝑖𝑣𝑜 𝐶𝑖

𝒆𝒛 𝑰𝒎𝒆𝒅𝒊𝒂𝒕𝒂=(𝐶𝑎𝑖𝑥𝑎 𝑒 𝐸𝑞𝑢𝑖𝑣𝑎𝑙𝑒𝑛𝑡𝑒𝑠 𝑑𝑒 𝐶𝑎𝑖𝑥𝑎 )/(𝑃𝑎𝑠𝑠𝑖𝑣𝑜 𝐶𝑖𝑟𝑐𝑢𝑙𝑎𝑛𝑡𝑒)

𝑠𝑠𝑖𝑣𝑜 𝐶𝑖𝑟𝑐𝑢𝑙𝑎𝑛𝑡𝑒+𝑃𝑎𝑠𝑠𝑖𝑣𝑜 𝑁ã𝑜 𝐶𝑖𝑟𝑐𝑢𝑙𝑎𝑛𝑡𝑒)/(𝑃𝑎𝑠𝑠𝑖𝑣𝑜 𝐶𝑖𝑟𝑐𝑢𝑙𝑎𝑛𝑡𝑒+𝑃𝑎𝑠𝑠𝑖𝑣𝑜 𝑁ã𝑜 𝐶𝑖𝑟

𝑠𝑠𝑖𝑣𝑜 𝑁ã𝑜 𝐶𝑖𝑟𝑐𝑢𝑙𝑎𝑛𝑡𝑒)/(𝑃𝑎𝑠𝑠𝑖𝑣𝑜 𝐶𝑖𝑟𝑐𝑢𝑙𝑎𝑛𝑡𝑒+𝑃𝑎𝑠𝑠𝑖𝑣𝑜 𝑁ã𝑜 𝐶𝑖𝑟𝑐𝑢𝑙𝑎𝑛𝑡𝑒+𝑃𝑎𝑡𝑟𝑖𝑚ô𝑛𝑖𝑜

𝑎𝑛𝑐𝑖𝑎𝑚𝑒𝑛𝑡𝑜𝑠, 𝐸𝑚𝑝𝑟é𝑠𝑡𝑖𝑚𝑜𝑠 𝑒 𝐷𝑒𝑏ê𝑛𝑡𝑢𝑟𝑒𝑠 𝑛𝑜 𝐶𝑃 𝑒 𝑛𝑜 𝐿𝑃)/(𝑃𝑎𝑠𝑠𝑖𝑣𝑜 𝐶𝑖𝑟𝑐𝑢𝑙𝑎𝑛𝑡𝑒+𝑃𝑎𝑠

(𝑃𝑎𝑠𝑠𝑖𝑣𝑜 𝐶𝑖𝑟𝑐𝑢𝑙𝑎𝑛𝑡𝑒)

𝑖𝑣𝑜 𝑁ã𝑜 𝐶𝑖𝑟𝑐𝑢𝑙𝑎𝑛𝑡𝑒+𝑃𝑎𝑡𝑟𝑖𝑚ô𝑛𝑖𝑜 𝐿í𝑞𝑢𝑖𝑑𝑜).100

𝑃𝑎𝑡𝑟𝑖𝑚ô𝑛𝑖𝑜 𝐿í𝑞𝑢𝑖𝑑𝑜).100

𝑢𝑙𝑎𝑛𝑡𝑒+𝑃𝑎𝑠𝑠𝑖𝑣𝑜 𝑁ã𝑜 𝐶𝑖𝑟𝑐𝑢𝑙𝑎𝑛𝑡𝑒+𝑃𝑎𝑡𝑟𝑖𝑚ô𝑛𝑖𝑜 𝐿í𝑞𝑢𝑖𝑑𝑜).100