Eletrobrás - Latibex. Mercado de valores latinoamericanos en … · 2002-01-04 · CEP 20071-003 - Rio de Janeiro - RJ Tel.: (21) 2514-6331 / 2514-6333 ... Capital reserves 22.716.09822.716.098

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INDEX

I CONSOLIDATED BALANCE SHEET – IN R$

Assets 1Liabilities 2Operating Revues 3

II STATEMENT INVESTIMENTS 4

III CAPITAL STRUCTURE 5

IV TWELVE MONTH BALANCE SHEET - SUMMARY


V TWELVE MONTH RATIOS - SUMMARY 9

VI STOCK MARKET 10

VII ADR’S MARKET 11

VIII INSTITUCIONAL INFORMATION 12

IX BALANCE SHEET – IN US$


DF/DFRAv. Presidente Vargas, 409 - 9º andarCEP 20071-003 - Rio de Janeiro - RJTel.: (21) 2514-6331 / 2514-6333Fax.: (21) 2242-2694E-mail: [email protected]

BALANCE SHEET 1

ASSETSExpressed in thousands of Reais

(Free translation from the Portuguese)

Under the Corporate Law

PARENT COMPANY CONSOLIDATED

ASSETS 2001 2000 2001 2000Reclassified

CURRENT ASSETS Cash and banks 1.504.890 1.055.874 2.709.375 2.210.790

Consumers and resellers - - 4.085.703 2.038.293

Loans and financing 2.745.046 2.485.261 989.466 850.957

Interest, commissions and charges 1.686.138 843.676 418.909 211.560

Marketable securities 149.125 136.767 268.789 318.802

Temporary investments 841.303 863.823 841.303 863.823

Tax credits 316.914 348.606 627.944 526.579

Inventory - materials 577 306 277.820 227.641

Remuneration of investments 87.451 161.305 2.455 10.752

Sundry receivables 11.624 6.195 265.404 298.239

Fuel consumption account - CCC 384.135 224.131 378.265 246.508

Others 212.180 61.842 166.567 214.113

7.939.383 6.187.786 11.032.000 8.018.057

LONG-TERM RECEIVABLES Loans and financing 31.604.887 23.545.759 14.018.346 5.932.887

Marketable securities 193.578 212.529 357.700 276.672

Studies and projects 42.764 33.860 42.764 33.860

Concessions to bid 324.494 324.494 447.283 467.546

Renegotiated receivables - - 872.726 648.911

Tax credits 237.183 192.442 628.295 296.694 Others 14.543 16.153 284.632 264.189

32.417.449 24.325.237 16.651.746 7.920.759 Advances for capital increase 2.638.253 2.445.140 158.250 59.242

35.055.702 26.770.377 16.809.996 7.980.001

PERMANENT ASSETS Investments Participation in electric power companies Equity accounting 35.918.951 36.631.218 - -

Cost 3.637.642 4.027.509 3.733.049 4.121.649

Others - - 227.626 169.241

39.556.593 40.658.727 3.960.675 4.290.890

Property, plant and equipment 13.943 16.075 76.234.849 67.686.897

Deferred charges 5.200 4.804 659.326 693.996

39.575.736 40.679.606 80.854.850 72.671.783

82.570.821 73.637.769 108.696.846 88.669.841

BALANCE SHEET 2

LIABILITIES AND STOCKHOLDERS’ EQUITYExpressed in thousands of Reais




LIABILITIES 2001 2000 2001 2000Reclassified

CURRENT LIABILITIES Loans and financing 552.080 581.171 1.707.610 1.829.616

Charges on loans and financing 106.657 82.240 202.375 141.165

Due to subsidiaries 2.670 2.948 - -


Suppliers 11.524 32.647 1.517.143 1.138.202

Compulsory loan 174.048 144.036 174.048 144.036

Estimated obligations 2.996 5.010 119.484 112.270

Shareholders' remuneration 958.839 74.664 958.843 75.365

Taxes and social contributions 820.436 887.885 1.317.339 1.202.675

Provisions for contingencies - - 1.198.076 1.054.338

Remuneration and reimbursement - - 383.687 317.601

Actuarial liability 24.088 20.332 151.108 74.018

Others 48.030 49.891 612.730 241.897

3.466.167 2.337.623 9.109.406 6.790.083

LONG-TERM LIABILITIES Loans and financing 4.061.544 2.849.316 21.107.827 10.180.383

Due to subsidiaries 1.034.269 1.034.269 - -

Global reversal reserve 2.339.205 1.618.949 2.339.205 1.618.949

Compulsory loan 2.827.743 2.544.247 2.827.743 2.544.247

Taxes and social contributions 83.094 460.466 897.456 1.422.344

Deferred tax liabilities 1.775.575 425.499 2.141.829 772.873

Provisions for contingencies 880.677 549.835 1.402.594 926.982

Actuarial liability 67.846 66.637 1.667.866 1.565.764

Others 184 27.442 125.748 162.925

13.070.137 9.576.660 32.510.268 19.194.467

Obligations linked to concessions - - 780.934 695.150

13.070.137 9.576.660 33.291.202 19.889.617

MINORITY INTERESTS IN SUBSIDIARIES - - 261.721 266.655

STOCKHOLDERS' EQUITY Capital 20.612.196 20.612.196 20.612.196 20.612.196

Capital reserves 22.716.098 22.716.098 22.716.098 22.716.098

Revenue reserves 17.445.186 15.738.225 17.445.186 15.738.225

Retained earnings 3.866.686 1.462.531 3.866.686 1.462.531

64.640.166 60.529.050 64.640.166 60.529.050

Advances for capital increase 1.394.351 1.194.436 1.394.351 1.194.436

66.034.517 61.723.486 66.034.517 61.723.486

82.570.821 73.637.769 108.696.846 88.669.841

BALANCE SHEET 3

STATEMENT OF INCOMEExpressed in thousands of Reais




2001 2000 2001 2000Reclassified Reclassified

OPERATING REVENUES Electric energy sales - - 10.345.028 7.727.017 Subventions - fuel consumption - - 516.695 331.856 Arrears interest on energy sales - - 86.580 22.785

- - 10.948.303 8.081.658 Loans and financing Interest, commissions and charges 2.643.864 1.797.746 1.141.142 784.368 Net monetary variations 4.629.293 842.574 2.720.308 384.874 Equity accounting (511.188) 270.261 - - Other investment income 37.791 162.290 42.172 196.477 Others 199.244 117.378 566.729 343.773

6.999.004 3.190.249 15.418.654 9.791.150

OPERATING EXPENSES Loans and financing 407.520 352.308 1.141.677 1.033.345

Personnel, materials and services 75.194 97.573 1.335.587 1.308.877

Depreciation and amortization 2.128 3.721 1.430.170 1.095.829

PASEP and COFINS 116.824 91.142 501.990 363.579

Charges on taxes paid in installments 26.513 60.309 36.273 136.332

Provisions for contingencies 271.929 55.481 409.526 82.883

Charges on stockholders' remuneration 634.774 429.786 637.700 432.888

Charges on traded securities - 28.395 - 28.395


Fuel for electric energy production - - 648.883 419.084

Donations and contributions 44.594 40.785 44.594 60.728

Energy purchased for resale - - 2.754.758 2.064.716

Others 182.962 65.167 643.657 254.889

1.762.438 1.224.667 10.102.846 7.650.552

OPERATING PROFIT 5.236.566 1.965.582 5.315.808 2.140.598

NON-OPERATING REVENUE (EXPENSES), NET 3.699 (3.768) (36.344) (58.307)

5.240.265 1.961.814 5.279.464 2.082.291

Social contribution (525.285) (114.095) (543.093) (151.928)

Income tax (1.306.770) (449.668) (1.338.402) (535.168)

INCOME BEFORE MINORITY INTERESTS 3.408.210 1.398.051 3.397.969 1.395.195

Minority interests - - 10.241 2.856

NET INCOME FOR THE YEAR 3.408.210 1.398.051 3.408.210 1.398.051

INCOME PER THOUSAND SHARES - R$ 6,34 2,60

STATEMENT OF INVESTMENTS 4INVESTMENT AND ADVANCES FOR FUTURE CAPITAL INCREASE

Expressed in thousands of Reais(Free translation from the Portuguese)

According to Corporate Law

STOCKHOLDERS’EQUITY

ELETROBRÁSEQUITY (%)

NET INCOME(LOSS) OFCOMPANY

EQUITYADJUSTMENTS

EVALUATED ONTHE EQUITY

METHOD

ADVANCESFOR FUTURE

CAPITALINCREASE

A) RETURN ON INVESTMENTS

SUBSIDIARIES

FURNAS 10.169.124 99,54 516.312 509.255 10.122.346 31.154

CHESF 9.857.685 99,45 (72.451) (69.541) 9.803.468 284.452

ELETROSUL 1.485.510 99,71 84.543 84.543 1.481.202 114.599

ELETRONORTE 10.669.602 98,72 (864.202) (864.204) 10.533.469 -

LIGHTPAR 29.691 81,61 (1.283) (2.503) 24.230 20.022

ELETRONUCLEAR 3.130.552 99,54 (219.316) (219.317) 3.116.151 2.029.776

CGTEE 704.943 99,94 2.006 (2.003) 704.520 -

(563.770) 35.785.386 2.480.003

OTHER

ITAIPU 267.130 50,00 - 52.582 133.565

Dividends

SUBTOTAL (511.188) 35.918.951 2.480.003

B) RETURN ON MINORITY SHEREHOLDING

ASSOCIATE UTILITIES 3.637.642 158.250

TOTAL (511.188) 39.556.593 2.638.253

STRUCTURE OF CAPITAL 5

CAPITAL STRUCTURE

At September 2001


COMMONSHARES

%PREFERRED

SHARESCLASS “A”

PREFERREDSHARES

CLASS “B”TOTAL %

FEDERALGOVERNMENT 264,328,120,835 58.41 - 17,592,868,180 281,920,989,015 52,46

BNDESPAR 68,089,960,070 15.21 - 71,237,780 68,161,197,850 12,68

FND 22,810,794,898 5.04 - - 22,810,794,898 4,24

MINORITYY 97,282,887,747 21.34 73,460,000 67,253,191,370 164,609,539,117 30,62

TOTAL 452,511,763,550 100.00 73,460,000 84,917,297,330 537,502,520,880 100.00

FEDERALGOVERNMENT

MINORITY

BNDESPAR

FND

TOTAL CAPITAL PARTICIPATION

TWELVE MONTH BALANCE SHEET 6

US$ million

ACCOUNTS Sept/00 Dec/00 Mar/01 Jun/01 Sep/01

ASSETS

CURRENT ASSETS

Cash, banks and marketable securities 579,07 697,38 671,71 764,38 563,.629

Loans and financings receivable 1,362,98 1,025,97 1,053,78 1,059,04 1,028,107

Other 1,451,49 1,361,33 1,268,40 57,39 1,381,815

3,393,54 3,084,68 2,993,89 1,880,81 2,973,551

NON-CURRENT ASSETS

Loans and financings receivable 12,913,11 13,191,67 12,615,04 12,362,60 11,837,036

Other 427,49 390,69 363,83 7,56 304,330

13,340,60 13,582,36 12,978,87 1,2370,16 12,141,366

Advances for future capital increase 1,340,98 1,308,48 1,182,35 1,116,08 988,110

14,681,58 14,890,84 14,161,22 13,486,24 13,129,476

PERMANENT ASSETS

Investments 22,298,30 20,490,20 18,539,96 15,746,09 14,815,204

Fixed assets 8,82 7,90 6,98 6,31 5,22

Deferred 2,63 2,66 2,41 2,27 1,95

22,309,75 20,500,76 18,549,35 15,754,67 14,822,374

T O T A L 40,384,87 38,476,28 35,704,46 31,121,72 30,925,401

-

5.000

10.000

15.000

20.000

25.000

Sept Dec Mar/01 Jun Sept/01

Current AssetNon-Current AssetPermanent


US$ million


LIABILITIES AND STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES

Loans and financings payable 318,73 311,61 354,64 270,11 206,771

Taxes and contributions 486,94 313,95 193,38 283,60 307,279

Other 476,34 927,46 903,97 20,70 784,140

1,282,01 1,553,02 1,452,00 574,41 1,298,190

NON-CURRENT LIABILITIES

Loans and financings payable 1,562,64 1,537,16 1,428,54 1,499,23 1,551,177

Taxes and contributions 266,51 106,81 78,05 55,15 31,121

Other 3,422,94 3,502,50 3,408,24 - 3,312,884

5,252,09 5,146,47 4,914,83 1,554,38 4,895,182

STOCKHOLDERS’ EQUITY

Revalued paid-up capital 11,304,26 10,541,17 9,535,62 8,942,77 7,719,924

Reserves 21,089,35 20,367,19 18,469,23 17,367,72 15,041,679

Retained earnings 802,10 234,47 738,53 1,005,85 1,448,197

33,195,71 31,142,82 28,743,38 27,315,95 24,209,800

Advances for future capital increase 655,06 633,97 594,25 578,87 522,23

33,850,77 31,776,79 29,337,63 27,894,82 24,732,029

T O T A L 40,384,87 38,476,28 35,704,46 30,023,61 30,925,401

-

5.000

10.000

15.000

20.000

25.000

30.000

35.000

Sept Dec Mar/01 Jun Sept/01

Current Liabilities Non-Current Liabilities Stockholders' Equity


US$ million


OPERATING REVENUES

From financings and loans 1,445,29 2,165,94 976,55 1,715,93 2,724,029

From investments (1) 237,22 185,51 (12,64) (92,18) (177,302)

Other 64,38 89,25 27,65 55,53 74,623

1,746,89 2,440,70 991,56 1,679,28 2,621,350

OPERATING EXPENSES

Charges on loan and financings 193,22 258,26 57,34 111,43 152,629

Other 475,69 599,14 140,33 50,22 507,460

668,91 857,40 197,67 161,65 660,089

Operating income 1,077,98 1,583,30 793,89 1,213,44 1,961,261

NON-OPERATING INCOME (2,07) 41,66 1,444 1,385

Net income before income tax and social contribution 1,075,91 1,624,96 793,89 1,214,89 1,962,646

Social Contribution (62,57) (79,38) (71,89) (125,38) (196,736)

Provision for income tax (current) (246,61) (287,90) (195,57) (282,56) (489,427)

INCOME BEFORE MINORITY PARTICIPATION 766,73 1,257,68 56,43 806,94 1,276,483

Employees earning participation (1,77) -

Net income 766,73 1,255,91 526,43 806,94 1,276,483

Net income per share 0,0014 0,0023 0,00098 0,001501 0,006340

Equity value 0,06 0,06 0,05 0,05 0,05

OBS.:

(1) Equity adjustments 71,78 40,54 12,63 (44,76) (191,46)

0,00

50,00

100,00

150,00

200,00

250,00

300,00

Sept Dec Mar/01 Jun Sep/01

Current Assets / Current Liabilities

0

2

4

6

8

Sept Dec Mar/01 Jun Sep/01

Total Loans and Financings / Stockholders' Equity


RATIOS Sept/00 Dec/00 Mar/01 Jun/01 Sep/01

Cash, banks and marketable securities / Current liabilities 45.17% 44.90% 46.26% 53,43% 43,42%

Current Assets / Current Liabilities 264.70% 198.62% 206.19% 220,31% 229,05%

CAPITAL STRUCTURE

Current Liabilities / Stockholders’ Equity 3.86% 4.99% 5.05% 5,24% 5,36%

(Current Liabilities + Non-Current Liabilities) / Stockholders’ Equity 19.68% 21.51% 22.15% 23,32% 25,58%

Total of Loans and Financings / Stockholders’ Equity 5.67% 5.94% 6.34% 6,48% 7,15%

Loans and Financings Current Liabilities / Total of Loans and Financings 16.94% 16.85% 21.67% 15,27% 12,16%

Permanent Assets / Stockholders’ Equity 67.21% 65.83% 64.50% 63,28% 61,20%

(Current Liabilities + Non-Current Liabilities) / Total Assets 16.18% 17.41% 17.83% 18,59% 20,03%

EARNING CAPACITY VALUE

Net income for the year / Operating income 71.13% 79.32% 66.31% 66,50% 65,08%

Net income before income tax / Operating income 99.81% 102.63% 150.81% 100,12% 100,07%

Net income for the year / Stockholders’ Equity 2.31% 4.03% 1.83% 2,95% 5,27%

MARKET INDICATORS

Common Share (US$) 0.0197 0.0184 0.0192 0,0128 0,0121

Preferred Share class “B” (US$) 0.0205 0.0184 0.0185 0,0118 0,0113

Common Share (US$) / Book value 31.88% 31.82% 35.91% 25,18% 24,20%

Preferred Share class “B” (US$) / Book value 33.27% 31.78% 34.60% 23,22% 22,60%

%

%

STOCK MARKET 10

Stock Performance

Preferred Shares Class “B”

Market PriceAverage

Equity value ofthe company’s

shares

Net income pershare

Market price at theend of the quarter

DailyAverageTraded

R$ US$ R$ US$ R$ US$ R$ US$

IndexP / E

IndexP / BV

QuarterlyEarningCapacity

Value

3rd Quarter/00 450.454.688 0,0402 0,0218 0,1126 0,060 0,00260 0,0014 0,0375 0,0203 14,38 33,21% (6,27%)

4th Quarter/00 349.620.000 0,0351 0,0180 0,1133 0,058 0,00457 0,0023 0,0360 0,0184 7,88 31,78% (3,74%)

1st Quarter/01 428.757.377 0,0379 0,0175 0,1156 0,053 0,00212 0,0010 0,0400 0,0185 18,87 34,60% 11,05%

2nd Quarter/01 534.719.355 0,0306 0,0133 0,1171 0,051 0,00134 0,0006 0,0272 0,0118 20,30 23,22% (31,98%)

3rd Quarter/01 350.657.143 0,0300 0,0112 0,1262 0,047 0,00288 0,0011 0,0294 0,0110 10,21 23,30% 8,09%

Common Share

Market PriceAverage

Equity value ofthe company’s

shares

Net income pershare

Market price atthe end of the

quarter

DailyAverageTraded

R$ US$ R$ US$ R$ US$ R$ US$

IndexP / E

IndexP / BV

QuarterlyEarningCapacity

Value

3rd Quarter/00 341.735.938 0,0376 0,0204 0,1126 0,060 0,00260 0,0014 0,0354 0,0153 13,81 31,88% (2,97%)

4th Quarter/00 391.735.000 0,0348 0,0178 0,1133 0,058 0,00457 0,0023 0,0361 0,0184 7,89 31,82% 0,56%

1st Quarter/01 258.509.836 0,0402 0,0186 0,1156 0,053 0,00212 0,0010 0,0415 0,0192 19,58 35,90% 15,12%

2nd Quarter/01 297.333.871 0,0340 0,0147 0,1171 0,051 0,00134 0,0006 0,0294 0,0128 22,01 25,18% (26,25%)

3rd Quarter/01 205.146.032 0,0339 0,0127 0,1262 0,047 0,00288 0,0011 0,0320 0,0120 11,12 25,37% 8,54%

Shares TradedDaily Average

0,00

50,00

100,00

150,00

200,00

250,00

300,00

350,00

400,00

450,00

3rd Quarter/00 4th Quarter/00 1º Quarter/01 2º Quarter/01 3º Quarter/01

PNB

ON

ADR´s Programs 11

Preferred Shares - CAIGY

Market PriceAverage

Market price at the end

of the quarter

DailyAverageTraded

R$ US$ R$ US$

Quartely EarningCapacity Value

3rd Quarter/00 289.083 20,2730 10,9958 18,4344 9,9986 (7,97%)

4th Quarter/00 271.782 17,5796 8,9903 18,3319 9,3750 (6,24%)

1st Quarter/01 242.706 20,1753 9,3335 18,9140 8,7500 (6,67%)

2nd Quarter/01 354.841 15,5674 6,7541 13,5989 5,9000 (32,57%)

3rd Quarter/01 164.949 15,6173 5,8463 15,2274 5,7000 (3,39%)

Common Shares – CAIFY

Market PriceAverage

Market price at the end

of the quarter

DailyAverageTraded

R$ US$ R$ US$

Quartely EarningCapacity Value

3rd Quarter/00 419.520 19,1241 10,3727 18,2631 9,9057 (4,43%)

4th Quarter/00 285.834 17,5448 8,9725 16,8653 8,6250 (12,93%)

1st Quarter/01 297.421 21,6006 9,9929 21,3458 9,8750 14,49%

2nd Quarter/01 752.111 17,3980 7,5483 14,4517 6,2700 (36,51%)

3rd Quarter/01 492.276 16,9037 6,3279 16,0278 6,0000 (4,31%)

ADR`s TradedDaily Average

INSTITUTIONAL INFORMATION 12

0

100.000

200.000

300.000

400.000

500.000

600.000

700.000

800.000

3rd Quarter/00 4th Quarter/00 1th Quarter/01 2nd Quarter/01 3rd Quarter/01

CAIGY

CAIFY

IInnssttiittuuttiioonnaall IInnffoorrmmaattiioonn

In the Marketletter relating to the second quarter of 2001 we showed an analysis ofEletrobrás leverage capacity. As shown, Eletrobrás has an extremely favorable index,which qualifies the company for new issues.

In this favorable scenario and to acquire funds to the company’s’ budget, which wasincluded in the emergency program of the Brazilian Government, Eletrobrás intends toplace issues in the local and international markets, as follows:

Eletrobrás is structuring an transaction in the international market through a SyndicatedLoan in the amount of US$ 110 million.

Next year Eletrobrás intends to issue a local debenture in the amount of up to R$ 600million. In 2003 another tranche of R$ 250 million will be issued.

In the external market, besides the Syndicated Loans previously mentioned, Eletrobrás willissue a bond of about US$ 220 million.

To complete the company budget, Eletrobrás will use its own resources of about R$ 850million, as well as a financing from Banco Nacional de Desenvolvimento Econômico eSocial – BNDES in the amount of R$ 850 million.

F u n d in g P ro g ra mU S $ / R $ M illio n

2 52 0 0 1 2 0 0 2 2 0 0 3

S y n d ic a te d

L o a n

L o c a l

M a rk e t

L o c a l

M a rk e t

B o n d s

U S $ 1 1 0U S $ 1 1 0

U S $2 2 0

U S $2 2 0

R $6 0 0R $6 0 0

R $ 2 5 0R $ 2 5 0

2 5

B N D E S

R $ 3 0 0R $ 3 0 0

B N D E S

R $5 5 0R $5 5 0

In te rn a lly

G e n e ra te d

F u n d sR $ 2 0 0R $ 2 0 0

In te rn a lly

G e n e ra te d

F u n d sR $6 5 0R $6 5 0

CONSOLIDATED BALANCE SHEET 13

ASSETSExpressed in thousands of American Dollars




ASSETS 2001 2000 2001 2000Reclassified

CURRENT ASSETS Cash and banks 563.629 - 395.458 - 1.014.747 - 828.011

Consumers and resellers - - 1.530.226 - 763.406

Loans and financing 1.028.107 - 930.809 - 370.587 - 318.710

Interest, commissions and charges 631.512 - 315.984 - 156.895 - 79.236

Marketable securities 55.852 - 51.224 - 100.670 - 119.401

Temporary investments 315.095 - 323.529 - 315.095 - 323.529

Tax credits 118.694 - 130.564 - 235.185 - 197.221

Inventory - materials 216 - 115 - 104.052 - 85.259

Remuneration of investments 32.753 - 60.414 - 919 - 4.027

Sundry receivables 4.354 - 2.320 - 99.402 - 111.700

Fuel consumption account - CCC 143.871 - 83.944 - 141.672 - 92.325

Others 79.468 - 23.162 - 62.385 - 80.192

2.973.551 2.317.523 4.131.835 3.003.017

LONG-TERM RECEIVABLES Loans and financing 11.837.036 - 8.818.636 - 5.250.317 - 2.222.055

Marketable securities 72.501 - 79.599 - 133.970 - 103.622

Studies and projects 16.016 - 12.682 - 16.016 - 12.682

Concessions to bid 121.533 - 121.533 - 167.522 - 175.111

Renegotiated receivables - - 326.864 - 243.038

Tax credits 88.833 - 72.076 - 235.316 - 111.121 Others 5.447 - 6.050 - 106.604 - 98.947

12.141.366 9.110.576 6.236.609 2.966.576 Advances for capital increase 988.110 - 915.783 - 59.270 - 22.188

13.129.476 10.026.359 6.295.879 2.988.764

PERMANENT ASSETS Investments Participation in electric power companies Equity accounting 13.452.791 - 13.719.557 - -

Cost 1.362.413 - 1.508.430 - 1.398.146 - 1.543.689

Others - - 85.253 - 63.386

14.815.204 15.227.987 1.483.399 1.607.075

Property, plant and equipment 5.222 - 6.021 - 28.552.378 - 25.350.898

Deferred charges 1.948 - 1.799 - 246.939 - 259.924

14.822.374 15.235.807 30.282.716 27.217.897

30.925.401 27.579.689 40.710.430 33.209.678


LIABILITIES AND STOCKHOLDERS’ EQUITYExpressed in thousands of American Dollars




LIABILITIES 2001 2000 2001 2000Reclassified

CURRENT LIABILITIES Loans and financing 206.771 217.668 639.554 685.248

Charges on loans and financing 39.946 30.801 75.796 52.871



Suppliers 4.316 12.227 568.218 426.293

Compulsory loan 65.187 53.946 65.187 53.946

Estimated obligations 1.122 1.876 44.751 42.049

Shareholders' remuneration 359.116 27.964 359.117 28.227

Taxes and social contributions 307.279 332.541 493.385 450.440

Provisions for contingencies - - 448.718 394.883



Others 17.989 18.686 229.487 90.598

1.298.190 875.514 3.411.763 2.543.102

LONG-TERM LIABILITIES Loans and financing 1.521.177 1.067.160 7.905.552 3.812.878


Global reversal reserve 876.107 606.348 876.107 606.348

Compulsory loan 1.059.080 952.901 1.059.080 952.901

Taxes and social contributions 31.121 172.459 336.126 532.713

Deferred tax liabilities 665.009 159.363 802.183 289.466

Provisions for contingencies 329.842 205.931 525.316 347.184


Others 69 10.278 47.097 61.021

4.895.182 3.586.765 12.176.130 7.188.939

Obligations linked to concessions - - 292.485 260.356

4.895.182 3.586.765 12.468.615 7.449.295

MINORITY INTERESTS IN SUBSIDIARIES - - 98.023 99.871

STOCKHOLDERS' EQUITY Capital 7.719.924 7.719.924 7.719.924 7.719.924

Capital reserves 8.507.902 8.507.902 8.507.902 8.507.902

Revenue reserves 6.533.777 5.894.466 6.533.777 5.894.466

Retained earnings 1.448.197 547.764 1.448.197 547.764

24.209.800 22.670.056 24.209.800 22.670.056

Advances for capital increase 522.229 447.354 522.229 447.354

24.732.029 23.117.410 24.732.029 23.117.410

30.925.401 27.579.689 40.710.430 33.209.678


STATEMENT OF INCOMEExpressed in thousands of American Dollars




2001 2000 2001 2000Reclassified Reclassified

OPERATING REVENUES Electric energy sales - - 3.874.542 2.894.014 Subventions - fuel consumption - - 193.519 124.291 Arrears interest on energy sales - - 32.427 8.534

- - 4.100.488 3.026.839 Loans and financing Interest, commissions and charges 990.211 - 673.313 427.394 - 293.771 Net monetary variations 1.733.818 - 315.571 1.018.842 - 144.148 Equity accounting (191.456) - 101.221 - - Other investment income 14.154 - 60.783 15.795 - 73.587 Others 74.623 - 43.962 212.258 - 128.754

2.621.350 1.194.850 5.774.777 3.667.099

OPERATING EXPENSES Loans and financing 152.629 - 131.951 427.594 - 387.021

Personnel, materials and services 28.163 - 36.544 500.220 - 490.216

Depreciation and amortization 797 - 1.394 535.644 - 410.423

PASEP and COFINS 43.754 - 34.136 188.011 - 136.172

Charges on taxes paid in installments 9.930 - 22.588 13.585 - 51.061

Provisions for contingencies 101.846 - 20.779 153.381 - 31.042

Charges on stockholders' remuneration 237.743 - 160.969 238.839 - 162.130

Charges on traded securities - 10.635 - 10.635

Remuneration and reimbursement - - 194.019 - 138.205

Fuel for electric energy production - - 243.027 - 156.960

Donations and contributions 16.702 - 15.275 16.702 - 22.745

Energy purchased for resale - - 1.031.745 - 773.302

Others 68.525 - 24.407 241.070 - 95.464

660.089 458.678 3.783.837 2.865.376

OPERATING PROFIT 1.961.261 736.172 1.990.940 801.723

NON-OPERATING REVENUE (EXPENSES), NET 1.385 - (1.411) (13.612) - (21.838) 1.962.646 734.761 1.977.328 779.885

Social contribution (196.736) - (42.732) (203.406) - (56.902)

Income tax (489.427) - (168.415) (501.274) - (200.437)

INCOME BEFORE MINORITY INTERESTS 1.276.483 523.614 1.272.648 522.546

Minority interests - - 3.836 - 1.070

NET INCOME FOR THE YEAR 1.276.483 523.614 1.276.484 523.616

INCOME PER THOUSAND SHARES - US$ 2,37 0,97

Documents

Eletrobrás - Latibex. Mercado de valores latinoamericanos en … · 2002-01-04 · CEP 20071-003 - Rio de Janeiro - RJ Tel.: (21) 2514-6331 / 2514-6333 ... Capital reserves 22.716.09822.716.098