A tribute to Olavo Setúbal
Highlights 2008
Main Indicators
Vision, Mission and Values
Profile
Message from the President
Presentation of the Report
Corporate Governance
Strategic Management
Wood Division
Deca Division
Analysis of Results
Risk Management
People Management
Commitment to External Initiatives
Social Management
Environmental Management
Awards, Certifications
and Other Recognition
Annual Social Balance Sheet 2008
GRI Summary
Corporate Information
Financial Statements

Select one of the items in this chapter

Balance Sheets at December 31
In thousands of reais
(A free translation of the original in Portuguese)

ASSETS

    Parent Company Consolidated
    2008 2007 2008 2007
Current assets          
Cash & cash equivalents (Note 5)   358,082 570,227 598,125 752,699
Clients (Note 6)   313,307 316,202 338,560 335,964
Inventories (Note 7)   222,027 175,786 275,155 217,086
Accounts receivable   32,673 15,249 9,897 10,508
Tax credits (Note 8)   68,686 27,738 97,127 36,893
Other credits   2,126 1,990 2,950 2,726
           
    996,901 1,107,192 1,321,814 1,355,876
           
Non-current assets          
Long-term receivables          
    Subsidiaries (Note 9)     32,104      
    Restricted deposits   6,888 5,297 9,743 7,324
    Accounts receivable   31,449 2,471 34,398 4,641
    Tax credits (Note 8)   88,120 41,919 100,292 52,510
           
    158,561 49,687 144,433 64,475
           
    Investments in subsidiaries (Note 10)   692,131 427,904    
   Other investments   111 111 585 585
   Property, plant and equipment (Note 11)   1,162,781 845,069 1,692,758 1,192,712
   Forest reserves (Note 11)       182,184 130,679
   Intangible assets (Note 12)   31,598 6,108 31,673 6,130
           
           
    2,045,182 1,328,879 2,051,633 1,394,581
           
           
Total assets   3,042,083 2,436,071 3,373,447 2,750,457
           
The accompanying notes are an integral part of these financial statements.    



LIABILITIES AND STOCKHOLDERS' EQUITY

    Parent Company Consolidated
    2008 2007 2008 2007
Current liabilities          
    Suppliers   176,747 51,851 118,856 51,074
    Personnel   63,835 56,252 71,383 65,181
    Accounts payable   56,027 35,432 127,510 76,393
    Subsidiaries (Note 9)   55,947 23,642    
    Taxes and contributions   13,860 45,583 19,822 69,017
    Loans and financing (Note 13)   155,643 101,237 435,073 246,155
    Dividends and profit sharing (Note 16(d))   58,828 55,311 60,146 55,480
           
    580,887 369,308 832,790 563,300
           
Non-current liabilities          
    Subsidiaries (Note 9)   5,488 9,089    
    Loans and financing (Note 13)     618,069 344,176 649,358 424,581
    Provision for contingencies (Note 15)   79,376 72,651 128,714 118,499
    Accounts payable - "swap"     74,294   74,350
    Other accounts payable   26,688 9,987 30,395 12,593
           
    729,621 510,197 808,467 630,023
           
           
    Minority interest       647 609
           
Stockholders' equity (Note 16)          
    Capital   943,626 943,626 943,626 943,626
    Capital reserves   236,744 200,505 236,744 200,505
    Revaluation reserve   106,550 110,830 106,550 110,830
    Cumulative translation adjustments   775   775  
    Revenue reserves   443,880 301,605 443,848 301,564
           
    1,731,575 1,556,566 1,731,543 1,556,525
           
           
           
Total liabilities and stockholders' equity   3,042,083 2,436,071 3,373,447 2,750,457
           
           
The accompanying notes are an integral part of these financial statements.