DOEPE 25/05/2018 - Pág. 17 - Poder Executivo - Diário Oficial do Estado de Pernambuco
Recife, 25 de maio de 2018
Diário Oficial do Estado de Pernambuco - Poder Executivo
AGROVIA DO NORDESTE S.A.
Ano XCV • NÀ 96 - 17
&13-Q &217,18$d2'2%$/$1d23$75,021,$/(0(
Notas explicativas da administração às demonstrações contábeis em 31 de dezembro de 2017 e 2016
IRL DSURYDGR R DXPHQWR GH FDSLWDO GD &RPSDQKLD QR PRQWDQWH
GH 5 FRP HPLVVmR GH QRYDV Do}HV RUGLQiULDV
SHODDFLRQLVWD273D$JURYLDUHQXQFLRXDRVHXGLUHLWRGHSUHIHUrQFLD
QDVXEVFULomRGDVDo}HVHPLWLGDVWRWDOPHQWHLQWHJUDOL]DGRHPPRHGD
FRUUHQWH(PGHPDUoRGHIRLDSURYDGRRDXPHQWRGHFDSLWDO
GD&RPSDQKLDQRPRQWDQWHGH5FRPHPLVVmRGH
QRYDVDo}HVRUGLQiULDVSHODDFLRQLVWD273D$JURYLDUHQXQFLRXDRVHX
GLUHLWR GH SUHIHUrQFLD QD VXEVFULomR GDV Do}HV HPLWLGDV WRWDOPHQWH
LQWHJUDOL]DGRHPPRHGDFRUUHQWH(PGHPDLRGHIRLDSURYDGR
RDXPHQWRGHFDSLWDOGD&RPSDQKLDQRPRQWDQWHGH5FRP
HPLVVmRGHQRYDVDo}HVRUGLQiULDVSHODDFLRQLVWD273D
$JURYLD UHQXQFLRX DR VHX GLUHLWR GH SUHIHUrQFLD QD VXEVFULomR GDV
Do}HV HPLWLGDV WRWDOPHQWH LQWHJUDOL]DGR HP PRHGD FRUUHQWH (P
GHMXQKRGHIRLDSURYDGRRDXPHQWRGHFDSLWDOGD&RPSDQKLD
QR PRQWDQWH GH5 FRP HPLVVmR GH QRYDV Do}HV
RUGLQiULDVSHODDFLRQLVWD273D$JURYLDUHQXQFLRXDRVHXGLUHLWRGH
SUHIHUrQFLDQDVXEVFULomRGDVDo}HVHPLWLGDVWRWDOPHQWHLQWHJUDOL]DGR
HPPRHGDFRUUHQWH(PGHDJRVWRGHIRLDSURYDGRRDXPHQWR
GH FDSLWDO GD &RPSDQKLD QR PRQWDQWH GH 5 FRP HPLVVmR
GH QRYDV Do}HV RUGLQiULDV SHOD DFLRQLVWD 273 D$JURYLD
UHQXQFLRX DR VHX GLUHLWR GH SUHIHUrQFLD QD VXEVFULomR GDV Do}HV
HPLWLGDV WRWDOPHQWH LQWHJUDOL]DGR HP PRHGD FRUUHQWH (P GH
VHWHPEURGHIRLDSURYDGRRDXPHQWRGHFDSLWDOGD&RPSDQKLD
QR PRQWDQWH GH 5 FRP HPLVVmR GH QRYDV Do}HV
RUGLQiULDVSHODDFLRQLVWD273D$JURYLDUHQXQFLRXDRVHXGLUHLWRGH
SUHIHUrQFLDQDVXEVFULomRGDVDo}HVHPLWLGDVWRWDOPHQWHLQWHJUDOL]DGR
HP PRHGD FRUUHQWH (P GH GH]HPEUR GH IRL DSURYDGR R
DXPHQWR GH FDSLWDO GD &RPSDQKLD QR PRQWDQWH GH 5 FRP
HPLVVmR GH QRYDV Do}HV RUGLQiULDV SHOD DFLRQLVWD 273
D $JURYLD UHQXQFLRX DR VHX GLUHLWR GH SUHIHUrQFLD QD VXEVFULomR
GDV Do}HV HPLWLGDV WRWDOPHQWH LQWHJUDOL]DGR HP PRHGD FRUUHQWH
(P GH GH]HPEUR GH R &DSLWDO VRFLDO GD &RPSDQKLD HVWi
5HVXOWDGR¿QDQFHLUROtTXLGR
UHSUHVHQWDGRGDVHJXLQWHIRUPD
2017
2016
Quantidade de
Percentual de
Acionistas
ações ordinárias Capital social
participação 5HFHLWDV¿QDQFHLUDV
$JURYLD
5HFHLWDVFRPMXURV
37
OTP
38.680
Descontos obtidos
60
8
34.400.198
41.248
100% Outros
115
b) Prejuízo por ação básico
(P GH GH]HPEUR GH D &RPSDQKLD QmR SRVVXtD RXWURV 'HVSHVDV¿QDQFHLUDV
LQVWUXPHQWRV TXH SRWHQFLDOPHQWH SRGHULDP GLOXLU RV UHVXOWDGRV 'HVSHVDVFRPMXURV
7ULEXWRVVREUHRSHUDo}HV¿QDQFHLUDV
por ação.
Outros
2017
2016
3UHMXt]RGRH[HUFtFLR
4XDQWLGDGHPpGLDSRQGHUDGDGHDo}HV
RUGLQiULDVHPLWLGDV PLOKDUHV
11.555 16. Contingência -$&RPSDQKLDpSDUWHHQYROYLGDHPSURFHVVRGH
Prejuízo por ação - basico e diluído (em reais) (0,36)
(0,47) ODQoDPHQWR WULEXWiULR GR ,PSRVWR VREUH D 3URSULHGDGH 3UHGLDO H
7HUULWRULDO 8UEDQD ,378 H GD 7D[D GH /LPSH]D 3~EOLFD 7/3
13. Receita líquida
2017
2016 $ DGPLQLVWUDomR EDVHDGD QD RSLQLmR GRV DVVHVVRUHV MXUtGLFRV
5HFHLWDGHRSHUDo}HVGHFDLV
H[WHUQRVGD&RPSDQKLDHQWHQGHQmRVHUQHFHVViULDDFRQVWLWXLomR
5HFHLWDGHDUPD]HQDJHP
GH SURYLVmR SDUD SHUGDV GHFRUUHQWHV GHVVH SURFHVVR HP YLUWXGH
7ULEXWRVVREUHUHFHLWD
GHQmRVHUSURYiYHODRFRUUrQFLDGHXPDVDtGDGHUHFXUVRV(P
Receita líquida
GH GH]HPEUR GH HVWHV SURFHVVRV IRUDP FODVVL¿FDGRV FRPR
14. Custos dos serviços prestados e despesas gerais SRVVtYHO SHORV DVVHVVRUHV MXUtGLFRV H[WHUQRV QR PRQWDQWH GH
5 5
administrativas
17. Seguros - $ &RPSDQKLD PDQWpP VHJXURV SDUD JDUDQWLU XPD
Custos dos serviços
Despesas
prestados administrativas 2017 2016 HIHWLYD FREHUWXUD GH ULVFRV LQHUHQWHV DR GHVHQYROYLPHQWR GH WRGDV
3HVVRDO
DVDWLYLGDGHVHRSRQWXDOFXPSULPHQWRGDVREULJDo}HVGHFRUUHQWHV
6HUYLoRVGHWHUFHLURV
GR FRQWUDWR GH DUUHQGDPHQWR$Wp GH GH]HPEUR GH IRUDP
0mRGHREUDDYXOVDSRUWXiULD
FRQWUDWDGRVRVVHJXURVGHPRQVWUDGRVDVHJXLU
Cobertura
Vigência até
*DVWRVJHUDLV
Modalidade
QRYHPEUR
Depreciação
30 6HJXUR*DUDQWLD
DJRVWR
6HJXURULVFRGHHQJHQKDULD
6HJXURRSHUDGRUSRUWXiULR
QRYHPEUR
$VGHPRQVWUDo}HV¿QDFHLUDVGDtQWUHJUDHQFRQWUDPVHjGLVSRVLomRQDVHGHGD&RPSDQKLDA ADMININSTRAÇÃO
1mR p SDUWH GR HVFRSR GR DXGLWRU LQGHSHQGHQWH D DYDOLDomR
GD DGHTXDomR GDV FREHUWXUDV GH VHJXURV FRQWUDWDGRV SHOD
Diretoria da Companhia.
18. Transações não caixa - $EDL[R HVWmR GHPRQVWUDGDV
PRYLPHQWDo}HV GDV DWLYLGDGHV RSHUDFLRQDLV TXH QmR HQYROYHUDP R XVR GH FDL[D RX HTXLYDOHQWHV GH FDL[D H SRUWDQWR
IRUDP H[FOXtGDV GDV GHPRQVWUDo}HV GRV ÀX[RV GH FDL[D QRV
H[HUFtFLRV &DVR DV RSHUDo}HV WLYHVVHP DIHWDGR R FDL[D
VHULDPQDVUXEULFDVGRÀX[RGHFDL[DDEDL[R
Fluxos de caixa das
atividades operacionais
2017
Ajustes
-XURVHYDULDo}HVPRQHWiULDVOtTXLGDV
-XURVSDJRVVREUHGHErQWXUHV
Caixa líquido aplicado nas
atividades operacionais
2016
19. Eventos subsequentes - (P GH IHYHUHLUR GH
D &RPSDQKLD DVVLQRX DGLWLYR FRQWUDWXDO SURUURJDQGR R
YHQFLPHQWR GDV GHErQWXUHV GH GH IHYHUHLUR GH SDUD
GHPDLRGH
Diretoria
João Gualberto Chaves3UHVLGHQWH5HJXODU
&3)
Carlos Pimentel Bandeira'LUHWRU5HJXODU
&3)
Adriana Santiago de Souza
&RQWDGRUD&5&3(2
(101794)
7$3,5$38(1(5*e7,&$6$ &13- 1 ± 5HODWyULR GD 'LUHWRULD ± 6HQKRUHV$FLRQLVWDV HP &RQWDELOLGDGH 1%& $VGHPRQVWUDo}HVFRQWiEHLVGD&RPSDQKLDSDUDRH[HUFtFLRILQGRHPGHGH]HPEURGHIRUDPDXWRUL]DGDVSDUDHPLVVmRGH
FXPSULPHQWRDRVSUHFHLWRVOHJDLVHHVWDWXWiULRVVXEPHWHPRVjDSUHFLDomRGH96DVDV'HPRQVWUDo}HV&RQWiEHLVUHIHUHQWHVDR DFRUGRFRPDUHVROXomRGD$GPLQLVWUDomRHPGHPDUoRGH7ULEXWDomR,PSRVWRGHUHQGDHFRQWULEXLomRVRFLDO$WULEXWDomRVREUHROXFUR
H[HUFtFLRVRFLDOILQGRHPSHUPDQHFHQGRjGLVSRVLomRSDUDSUHVWDURVHVFODUHFLPHQWRVQHFHVViULRV5HFLIH3($ FRPSUHHQGHRLPSRVWRGHUHQGDHDFRQWULEXLomRVRFLDORVTXDLVVmRUHJLVWUDGRVFRPEDVHQRSULQFtSLRGDFRPSHWrQFLDHFDOFXODGRVFRQIRUPHOHJLVODomR
ILVFDOHPYLJRUWHQGRSRUEDVHR³/XFUR3UHVXPLGR´,QVWUXPHQWRVILQDQFHLURV2VLQVWUXPHQWRVILQDQFHLURVVRPHQWHVmRUHFRQKHFLGRVDSDUWLUGD
'LUHWRULD
GDWD HP TXH D &RPSDQKLD VH WRUQD SDUWH GDV GLVSRVLo}HV FRQWUDWXDLV GH XP LQVWUXPHQWR ILQDQFHLUR 2 SULQFLSDO DWLYR ILQDQFHLUR UHFRQKHFLGR SHOD
'HPRQVWUDo}HVGRVIOX[RVGHFDL[D
%DODQoRVSDWULPRQLDLVGHGH]HPEURGHH
&RPSDQKLDpFDL[DHHTXLYDOHQWHVGHFDL[D2VSULQFLSDLVSDVVLYRVILQDQFHLURVUHFRQKHFLGRVSHOD&RPSDQKLDVmR SDUWHVUHODFLRQDGDVHFRQWDVDSDJDUD
3HUtRGRVILQGRVHPGHGH]HPEURGHH
9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV
IRUQHFHGRUHV&DL[DHHTXLYDOHQWHVGHFDL[D2VHTXLYDOHQWHVGHFDL[DVmRPDQWLGRVFRPDILQDOLGDGHGHDWHQGHUDFRPSURPLVVRVGHFDL[DGHFXUWR
9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV
1RWDV
SUD]RHQmRSDUDLQYHVWLPHQWRRXRXWURVILQV,QWDQJtYHLV$WLYRVLQWDQJtYHLVDGTXLULGRVVHSDUDGDPHQWHVmRPHQVXUDGRVDRFXVWRGHDTXLVLomRQR
$WLYR
PRPHQWRGRVHXUHFRQKHFLPHQWRLQLFLDO$SyVRUHFRQKHFLPHQWRLQLFLDORVDWLYRVLQWDQJtYHLVVmRDSUHVHQWDGRVDRFXVWRPHQRVDPRUWL]DomRDFXPXODGDH
)OX[RGHFDL[DGDVDWLYLGDGHVRSHUDFLRQDLV
&LUFXODQWH
SHUGDVDFXPXODGDVSRUUHGXomRDRYDORUUHFXSHUiYHO'LIHULGR&RQIRUPHIDFXOWDGRSHOD/HLQ D&RPSDQKLDRSWRXSHODPDQXWHQomRGRV
3UHMXt]RGRSHUtRGR
&DL[DHHTXLYDOHQWHVGHFDL[D
VDOGRVGRDWLYRGLIHULGRUHJLVWUDGRHPGHGH]HPEURGHDWpVXDFRPSOHWDDPRUWL]DomR3RUHVWDUHPIDVHSUpRSHUDFLRQDOD&RPSDQKLDQmRYHP
$MXVWHVSDUDFRQFLOLDURSUHMXt]RGRSHUtRGRjV
7RWDOGRDWLYRFLUFXODQWH
DPRUWL]DQGRRDWLYRGLIHULGR3HUGDSRUUHGXomRDRYDORUUHFXSHUiYHOGHDWLYRVQmRILQDQFHLURV$$GPLQLVWUDomRUHYLVDDQXDOPHQWHRYDORUFRQWiELO
GLVSRQLELOLGDGHVJHUDGDVSHODVDWLYLGDGHV
1mRFLUFXODQWH
OtTXLGRGRVDWLYRVFRPRREMHWLYRGHDYDOLDUHYHQWRVRXPXGDQoDVQDVFLUFXQVWkQFLDVHFRQ{PLFDVRSHUDFLRQDLVRXWHFQROyJLFDVTXHSRVVDPLQGLFDU
RSHUDFLRQDLV
,QWDQJtYHO
SHUGDGHVHXYDORUUHFXSHUiYHO 6HQGRWDLVHYLGrQFLDVLGHQWLILFDGDVHRYDORUFRQWiELOOtTXLGRH[FHGHURYDORUUHFXSHUiYHOpUHFRQKHFLGDXPDSHUGD
-XURVYDULDo}HVPRQHWiULDVHFDPELDLVOtTXLGDV
'LIHULGR
HVWLPDGDSHODGHVYDORUL]DomRGRDWLYRDMXVWDQGRRYDORUFRQWiELOOtTXLGRDRYDORUUHFXSHUiYHO3URYLV}HV3URYLV}HVVmRUHFRQKHFLGDVTXDQGR L D
7RWDOGRDWLYRQmRFLUFXODQWH
$FUpVFLPRV GHFUpVFLPRV GHDWLYRV
&RPSDQKLDWHPXPDREULJDomRSUHVHQWH OHJDORXQmRIRUPDOL]DGD HPFRQVHTXrQFLDGHXPHYHQWRSDVVDGR LL pSURYiYHOTXHEHQHItFLRVHFRQ{PLFRV
7RWDOGRDWLYR
VHMDPUHTXHULGRVSDUDOLTXLGDUDREULJDomR H LLL XPDHVWLPDWLYDFRQILiYHOGRYDORUGDREULJDomRSRVVDVHUIHLWD$GHVSHVDUHODWLYDDRUHFRQKHFLPHQWRGH
,PSRVWRVHFRQWULEXLo}HVDUHFXSHUDU
3DVVLYR
TXDOTXHUSURYLVmRpDSUHVHQWDGDQDGHPRQVWUDomRGRUHVXOWDGRGRSHUtRGR3URYLV}HVSDUDULVFRVWULEXWiULRVFtYHLVHWUDEDOKLVWDV$&RPSDQKLDQmR
&LUFXODQWH
$XPHQWRGHSDVVLYRV
SRVVXLFRQWLQJrQFLDVFXMDDYDOLDomRGDVH[SHFWDWLYDVGHSHUGDVGHVHXVDVVHVVRUHVMXUtGLFRVVHMD³SURYiYHO´$VVLPQHQKXPDSURYLVmRSDUDSHUGDVIRL
)RUQHFHGRUHV
FRQVWLWXtGDHPH-XOJDPHQWRVHVWLPDWLYDVHSUHPLVVDVFRQWiEHLVVLJQLILFDWLYRV$VGHPRQVWUDo}HVFRQWiEHLVIRUDPHODERUDGDVFRP
)RUQHFHGRUHV
,PSRVWRVHFRQWULEXLo}HVDUHFROKHU
EDVHHPGLYHUVDVEDVHVGHDYDOLDomRXWLOL]DGDVQDVHVWLPDWLYDVFRQWiEHLV$VHVWLPDWLYDVFRQWiEHLVHQYROYLGDVQDSUHSDUDomRGDVGHPRQVWUDo}HV
,PSRVWRVHFRQWULEXLo}HVDUHFROKHU
7RWDOGRSDVVLYRFLUFXODQWH
FRQWiEHLVIRUDPEDVHDGDVHPIDWRUHVREMHWLYRVHVXEMHWLYRVFRPEDVHQRMXOJDPHQWRGD$GPLQLVWUDomRSDUDGHWHUPLQDomRGRYDORUDGHTXDGRDVHU
1mRFLUFXODQWH
UHJLVWUDGRQDVGHPRQVWUDo}HVFRQWiEHLV $OLTXLGDomRGDVWUDQVDo}HVHQYROYHQGRHVVDVHVWLPDWLYDVSRGHUiUHVXOWDUHPYDORUHVVLJQLILFDWLYDPHQWH
&DL[DDSOLFDGRQDVDWLYLGDGHVRSHUDFLRQDLV
3DUWHVUHODFLRQDGDV
)OX[RGHFDL[DGDVDWLYLGDGHVGHLQYHVWLPHQWR
GLYHUJHQWHVGRVUHJLVWUDGRVQDVGHPRQVWUDo}HVFRQWiEHLVGHYLGRDRWUDWDPHQWRSUREDELOtVWLFRLQHUHQWHDRSURFHVVRGHHVWLPDWLYD$&RPSDQKLDUHYLVD
7RWDOGRSDVVLYRQmRFLUFXODQWH
$SOLFDomRQRLQWDQJtYHO
3DVVLYRDGHVFREHUWR
VXDVHVWLPDWLYDVHSUHPLVVDVSHORPHQRVDQXDOPHQWH
&DL[DDSOLFDGRQDVDWLYLGDGHVGHLQYHVWLPHQWR
&DSLWDOVRFLDO
,QWDQJtYHO2DWLYRLQWDQJtYHOQRPRQWDQWHGH 3DWULP{QLROtTXLGRD &DSLWDOVRFLDO2FDSLWDOVRFLDOVXEVFULWRHPGHGH]HPEURGHH
)OX[RGHFDL[DGDVDWLYLGDGHVGHILQDQFLDPHQWRV
3UHMXt]RVDFXPXODGRV
3DUWHVUHODFLRQDGDV
5 5 HVWiUHSUHVHQWDGRSRU pGH5HHVWiGLVWULEXtGRGDVHJXLQWHIRUPD
&DL[DJHUDGRSHODVDWLYLGDGHVGHILQDQFLDPHQWR
JDVWRV FRP GHVHQYROYLPHQWR GH SURMHWRV $FLRQLVWDV
$o}HV
E 5HFXUVRVSDUDIXWXURDXPHQWRGHFDSLWDO
5HFXUVRVSDUDIXWXURDXPHQWRGH
UHODFLRQDGRVjFRQVWUXomRGD3&+7DSLUDSXm
$FUpVFLPR GHFUpVFLPR QRFDL[DHHTXLYDOHQWHVGH
2V DGLDQWDPHQWRV FRQFHGLGRV SHORV
7DSLUDSXm+ROGLQJ6$
FDSLWDO
3DUWHVUHODFLRQDGDV
FDL[D
DFLRQLVWDVGHVWLQDGRVDRDXPHQWRGHFDSLWDO
2XWURVDFLRQLVWDV
7RWDOSDVVLYRDGHVFREHUWR
3DVVLYR
'HPRQVWUDomRGRDFUpVFLPR GHFUpVFLPR QRFDL[D
VHUmRHIHWLYDPHQWHFDSLWDOL]DGRVHP
7RWDOGRSDVVLYRHSDVVLYRDGHVFREHUWR
1mRFLUFXODQWH
HHTXLYDOHQWHVGHFDL[D
,QVWUXPHQWRVILQDQFHLURV2VSULQFLSDLVLQVWUXPHQWRVILQDQFHLURVGD&RPSDQKLDVmR FDL[DH
1RILQDOGRSHUtRGR
7DSLUDSXm+ROGLQJ6$
'HPRQVWUDo}HVGRVUHVXOWDGRV
HTXLYDOHQWHVGHFDL[DHSDUWHVUHODFLRQDGDVHFRQWDVDSDJDUDIRUQHFHGRUHV(PGHGH]HPEURGH
1RLQtFLRGRSHUtRGR
3HUtRGRVILQGRVHPGHGH]HPEURGHH
6REUHDVRSHUDo}HVGHP~WXRKiLQFLGrQFLDH HQmRKDYLDGLIHUHQoDVLJQLILFDWLYDHQWUHRVYDORUHVFRQWiEHLVHRVGHPHUFDGRSDUDRV
$FUpVFLPR GHFUpVFLPR QRFDL[DHHTXLYDOHQWHVGH
9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV
UHFROKLPHQWRGH,2)QRVWHUPRVGDOHJLVODomR LQVWUXPHQWRVILQDQFHLURVGD&RPSDQKLD $&RPSDQKLDQmRUHDOL]DRSHUDo}HVGHKHGJHVZDSRX
FDL[D
ILVFDOYLJHQWH
TXDLVTXHURXWUDVRSHUDo}HVTXHHQYROYDPLQVWUXPHQWRVILQDQFHLURVGHULYDWLYRV
'HPRQVWUDo}HVGRVUHVXOWDGRVDEUDQJHQWHV
'LUHWRUHV 5LFDUGR-HU{QLPR3HUHLUD5rJR-~QLRUH3HGUR3RQWXDO0DUOHWWL
&RQWDGRU $PLOWRQ4XHLUR]GD6LOYD±&5&3(2
3HUtRGRVILQGRVHPGHGH]HPEURGHH
'HVSHVDVRSHUDFLRQDLV
9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV
*HUDLVHDGPLQLVWUDWLYDV
5HODWyULRGRVDXGLWRUHVLQGHSHQGHQWHVVREUHDVGHPRQVWUDo}HVFRQWiEHLV$RV$FLRQLVWDVH$GPLQLVWUDGRUHV7DSLUDSXm(QHUJpWLFD6$5HFLIH
2XWUDVGHVSHVDVRSHUDFLRQDLV
3( ([DPLQDPRV DV GHPRQVWUDo}HV FRQWiEHLV GD 7DSLUDSXm (QHUJpWLFD 6$ ³&RPSDQKLD´ TXH FRPSUHHQGHP R EDODQoR SDWULPRQLDO HP GH
3UHMXt]RGRSHUtRGR
5HVXOWDGRGRSHUtRGR
GH]HPEURGHHDVUHVSHFWLYDVGHPRQVWUDo}HVGRUHVXOWDGRGRUHVXOWDGRDEUDQJHQWHGDVPXWDo}HVGRSDWULP{QLROtTXLGRHGRVIOX[RVGHFDL[DSDUD
2XWURVUHVXOWDGRVDEUDQJHQWHV
3UHMXt]RSRUDomR±HP5HDLV
RH[HUFtFLRILQGRQDTXHODGDWDLQFOXLQGRRUHVXPRGDVSULQFLSDLVSUiWLFDVFRQWiEHLVHGHPDLVQRWDVH[SOLFDWLYDV5HVSRQVDELOLGDGHGD$GPLQLVWUDomR
5HVXOWDGRDEUDQJHQWHGRSHUtRGR
VREUHDVGHPRQVWUDo}HVFRQWiEHLV$$GPLQLVWUDomRGD&RPSDQKLDpUHVSRQViYHOSHODHODERUDomRHDGHTXDGDDSUHVHQWDomRGHVVDVGHPRQVWUDo}HV
'HPRQVWUDo}HVGDVPXWDo}HVGRSDWULP{QLROtTXLGR3HUtRGRVILQGRVHPGHGH]HPEURGHH
FRQWiEHLVFRPDVSUiWLFDVFRQWiEHLVDGRWDGDVQR%UDVLODVVLPFRPRSHORVFRQWUROHVLQWHUQRVTXHHODGHWHUPLQRXFRPRQHFHVViULRVSDUDSHUPLWLUD
9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV
HODERUDomRGHVVDVGHPRQVWUDo}HVFRQWiEHLVOLYUHVGHGLVWRUomRUHOHYDQWHLQGHSHQGHQWHPHQWHVHFDXVDGDSRUHUURRXIUDXGH5HVSRQVDELOLGDGHGRV
DXGLWRUHVLQGHSHQGHQWHV1RVVDUHVSRQVDELOLGDGHpDGHH[SUHVVDUXPDRSLQLmRVREUHHVVDVGHPRQVWUDo}HVFRQWiEHLVFRPEDVHHPQRVVDDXGLWRULD
3UHMXt]RV
5HFXUVRVSDUDIXWXUR
FRQGX]LGDGHDFRUGRFRPDVQRUPDVEUDVLOHLUDVHLQWHUQDFLRQDLV GHDXGLWRULD(VVDVQRUPDVUHTXHUHPRFXPSULPHQWRGHH[LJrQFLDVpWLFDVSHORV
&DSLWDOVRFLDO
DFXPXODGRV
6XEWRWDO
DXPHQWRGHFDSLWDO
7RWDO
6DOGRVHPGHGH]HPEURGH
DXGLWRUHVHTXHDDXGLWRULDVHMDSODQHMDGDHH[HFXWDGDFRPRREMHWLYRGHREWHUVHJXUDQoDUD]RiYHOGHTXHDVGHPRQVWUDo}HVFRQWiEHLVHVWmROLYUHVGH
3UHMXt]RGRSHUtRGR
GLVWRUomRUHOHYDQWH8PDDXGLWRULDHQYROYHDH[HFXomRGHSURFHGLPHQWRVVHOHFLRQDGRVSDUDREWHQomRGHHYLGrQFLDDUHVSHLWRGRVYDORUHVHGLYXOJDo}HV
6DOGRVHPGHGH]HPEURGH
DSUHVHQWDGRVQDVGHPRQVWUDo}HVFRQWiEHLV2VSURFHGLPHQWRVVHOHFLRQDGRVGHSHQGHPGRMXOJDPHQWRGRDXGLWRULQFOXLQGRDDYDOLDomRGRVULVFRVGH
3UHMXt]RGRSHUtRGR
GLVWRUomRUHOHYDQWHQDVGHPRQVWUDo}HVFRQWiEHLVLQGHSHQGHQWHPHQWHVHFDXVDGDSRUIUDXGHRXHUUR1HVVDDYDOLDomRGHULVFRVRDXGLWRUFRQVLGHUDRV
6DOGRVHPGHGH]HPEURGH
FRQWUROHVLQWHUQRVUHOHYDQWHVSDUDDHODERUDomRHDGHTXDGDDSUHVHQWDomRGDVGHPRQVWUDo}HVFRQWiEHLVGD&RPSDQKLDSDUDSODQHMDURVSURFHGLPHQWRV
GH DXGLWRULD TXH VmR DSURSULDGRV QDV FLUFXQVWkQFLDV PDV QmR SDUD ILQV GH H[SUHVVDU XPD RSLQLmR VREUH D HILFiFLD GHVVHV FRQWUROHV LQWHUQRV GD
1RWDVH[SOLFDWLYDVjVGHPRQVWUDo}HVFRQWiEHLVGHGH]HPEURGHH 9DORUHVH[SUHVVRVHPPLOKDUHVGHUHDLV
,QIRUPDo}HVVREUHD&RPSDQKLD$7DSLUDSXm(QHUJpWLFD6$ ³&RPSDQKLD´ pXPDVRFLHGDGHSRUDo}HVGHFDSLWDOIHFKDGR &RPSDQKLD8PDDXGLWRULDLQFOXLWDPEpPDDYDOLDomRGDDGHTXDomRGDVSUiWLFDVFRQWiEHLVXWLOL]DGDVHDUD]RDELOLGDGHGDVHVWLPDWLYDVFRQWiEHLVIHLWDV
FRPVHGHQDFLGDGHGR5HFLIH3(TXHWHPFRPRREMHWRVRFLDODSURGXomRHFRPHUFLDOL]DomRGHHQHUJLDHOpWULFDFRPDSURYHLWDPHQWR SHOD$GPLQLVWUDomREHPFRPRDDYDOLDomRGDDSUHVHQWDomRGDVGHPRQVWUDo}HVFRQWiEHLVWRPDGDVHPFRQMXQWR$FUHGLWDPRVTXHDHYLGrQFLDGH
GHUHFXUVRVKtGULFRVQDWXUDLVPHGLDQWHDXWRUL]DomRGR3RGHU3~EOLFRFRPSHWHQWH&RQVLGHUDQGRTXHD$1((/DLQGDQmRFRQFHGHXD DXGLWRULDREWLGDpVXILFLHQWHHDSURSULDGDSDUDIXQGDPHQWDUQRVVDRSLQLmR2SLQLmR(PQRVVDRSLQLmRDVGHPRQVWUDo}HVFRQWiEHLVDFLPDUHIHULGDV
DXWRUL]DomRSDUDDLPSODQWDomRGRHPSUHHQGLPHQWRDVREUDVGD3&+7DSLUDSXmDLQGDQmRIRUDPLQLFLDGDVHDSUHYLVmRpGHTXHDV DSUHVHQWDPDGHTXDGDPHQWHHPWRGRVRVDVSHFWRVUHOHYDQWHVDSRVLomRSDWULPRQLDOHILQDQFHLUDGD7DSLUDSXm(QHUJpWLFD6$HPGHGH]HPEURGH
PHVPDVVyRFRUUDPDSDUWLUGH 'LDQWHGLVVRD$GPLQLVWUDomRGD&RPSDQKLDHVWLPDTXHDRSHUDomRFRPHUFLDORFRUUDDRILQDOGR RGHVHPSHQKRGHVXDVRSHUDo}HVHRVVHXVIOX[RVGHFDL[DSDUDRH[HUFtFLRILQGRQDTXHODGDWDGHDFRUGRFRPDVSUiWLFDVFRQWiEHLVDGRWDGDVQR
DQR GH $ FRQWURODGRUD JDUDQWH R VXSRUWH ILQDQFHLUR SDUD HYHQWXDLV QHFHVVLGDGHV GH FDL[D GD &RPSDQKLD %UDVLO2XWURVDVVXQWRV $XGLWRULDGRVYDORUHVFRUUHVSRQGHQWHVDRH[HUFtFLRDQWHULRU 2VYDORUHVFRUUHVSRQGHQWHVDRH[HUFtFLRILQGRHPGH
$SUHVHQWDomRGDVGHPRQVWUDo}HVFRQWiEHLVHVXPiULRGDVSUiWLFDVFRQWiEHLV$VGHPRQVWUDo}HVFRQWiEHLVIRUDPSUHSDUDGDVH GH]HPEURGHDSUHVHQWDGRVSDUDILQVGHFRPSDUDomRIRUDPDXGLWDGRVSRURXWURVDXGLWRUHVLQGHSHQGHQWHVTXHHPLWLUDPUHODWyULRGHDXGLWRULDVHP
HVWmRVHQGRDSUHVHQWDGDVGHDFRUGRFRPDVSROtWLFDVFRQWiEHLVDGRWDGDVQR%UDVLOTXHFRPSUHHQGHPRVGRFXPHQWRVHPLWLGRVSHOR PRGLILFDomRGDWDGRGH GHDEULOGH5HFLIH 3( GHPDUoRGH(5167 <281*$XGLWRUHV,QGHSHQGHQWHV66&5&63 )
&RPLWrGH3URQXQFLDPHQWRV&RQWiEHLV &3& DSURYDGRVSHOR&RQVHOKR)HGHUDOGH&RQWDELOLGDGH &)& FRPR1RUPDV%UDVLOHLUDV )UDQFLVFRGD6LOYD3LPHQWHO&RQWDGRU&5&63273(
(101778)
Consulte o nosso site: www.cepe.com.br