FRADES E CANECOS DISTRIBUIDORA

Balanço Patrimonial 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
R$ Reais
ATIVO 13,777,307 17,302,911 18,451,469 18,594,002 21,621,328

Ativo Circulante 11,432,905 9,471,088 10,345,739 10,553,549 14,569,655

Disponível 4,481,949 2,932,780 3,341,610 2,613,541 2,183,849
Duplicatas a receber 1,650,908 1,504,927 1,804,789 1,952,521 2,886,188
Estoques 5,064,577 4,730,062 4,833,374 4,833,374 8,191,571
Outros 235,471 303,319 365,966 1,154,114 1,308,047
0
Ativo não Circulante 2,344,401 7,831,823 8,105,730 8,040,453 7,051,673
Titulos de Capitalização 0 0 0 0
Outros Créditos e Cauções 0 0 0 0
0
Ativo Permanente 2,344,401 7,831,823 8,105,730 8,040,453 7,051,673
Investimentos 50,514 50,920 51,344 51,924 52,409
Imobilizado Custo Corrigido 3,058,695.44 8,690,397 9,142,018 9,298,546 8,418,242

[-] depreciação acum. (764,808) (909,494) (1,087,632) (1,310,017) (1,418,978)

PASSIVO 13,777,307 17,302,911 18,451,469 18,594,002 21,621,329

Passivo Circulante 6,017,620 7,950,116 9,474,543 7,859,049 8,826,417

Fornecedores Nacionais 3,995,209 4,563,949 6,644,576 5,552,687 6,047,740
Fornecedores Importação 0 0 0 0 0
Salários e Encargos a Pagar 3,519 3,142 3,129 3,726 4,686
Material de Terceiros 0 0 0 0 0
Impostos a Pagar 0 0 0 0 0
Outros 2,018,892 3,383,025 2,826,838 2,302,637 2,773,991
Passivo não Circulante 7,759,687 9,352,795 8,976,926 10,734,953 12,794,912
Exigível a Longo Prazo 1,023,474 902,227
Resultados Exerc. e Obrigações 0 0 0 0 0
Cofins 0 0 1,023,474 902,227
ISS 0 0 0 0 0

Patrimônio Líquido 7,759,687 9,352,795 8,976,926 9,711,479 11,892,685

Capital 2,500,000 2,500,000 2,500,000 2,500,000 2,500,000
Reservas de Capital 487,984 503,515 503,515 503,515 503,515
Contas de Compensação 0 0 0 0 0
Lucros Acumulados. 4,771,703 6,349,280 5,973,411 6,707,964 8,889,170
Lucro do Exercício 0 0 0 0 0
FRADES E CANECOS DISTRIBUIDORA 8.4% 7.9% 7.7% 8.5% 7.7%

Demonstração de Resultado 2006 2007 2008 2009 2010 2011 2012 2013

R$ Reais

Receita de Vendas e Serviços Merc. Interno 26,935,626 30,065,555 30,621,965 26,858,768 33,119,930 36,431,922.48 41,896,710.86 50,276,053.03

Receita de Vendas Merc. Externo 8,888,757 9,921,633 10,105,248 8,863,394 10,929,577 12,022,534.42 13,825,914.58 16,591,097.50

Vendas Brutas 35,824,382 39,987,188 40,727,213 35,722,162 44,049,506 48,454,456.90 55,722,625.44 66,867,150.53

[-] Vendas Canceladas e Descontos (3,017,844) (3,175,359) (3,140,347) (3,044,864) (3,385,536) (3,730,993.18) (4,290,642.16) (5,148,770.59)

[-] ICMS (5,015,414) (5,598,206) (5,701,810) (5,001,103) (6,166,931) (10,175,435.95) (12,537,590.72) (15,045,108.87)

[-] Demais Imp.e Contrib. Incid. s/ Vendas (1,343,414) (1,499,520) (1,527,270) (1,339,581) (1,651,856)

Vendas Líquidas 26,447,710 29,714,103 30,357,785 26,336,614 32,845,183 34,548,028 38,894,393 46,673,271

[-] Custo da Mercadoria Vendida (17,719,966) (18,422,744) (20,643,294) (16,065,335) (21,677,821) (23,628,824.59) (26,936,860.04) (32,054,863.44)

0 0 0 0 0

Lucro Bruto 8,727,744 11,291,359 9,714,491 10,271,280 11,167,362 10,919,203 11,957,533 14,618,408

Margem Bruta 0% 0% 0% 0% 0%

[-] Despesas Administrativas (3,993,892) (4,457,167) (5,165,222) (4,637,813) (5,499,946) (5,499,946.00) (5,664,944.38) (5,664,944.38)

[-] Despesas Comerciais (545,898) (628,988) (738,999) (638,459) (659,559) (659,559.00) (679,345.77) (679,345.77)

[-] Depreciação (259,989) (259,989) (259,989) (259,989) (259,989) (259,989.11) (259,989.11) (259,989.11)

Lucro Operacional 3,927,965 5,945,215 3,550,281 4,735,018 4,747,868 4,499,709 5,353,253 8,014,128

[+/-] Variações Monetárias Ativas / Passivas 0 0 0 0 0

[+] Receitas Financeiras 1,144,774 1,428,231 1,460,120 1,731,805 709,374

[-] Despesas Financeiras (344,357) (933,111) (1,965,024) (615,829) (502,749)

[+/-] Outras Receitas / Despesas não Operac. 24,150 26,564 9,000 (8,556) (68,440)

Lucro Antes do IR/CSLL 4,752,532 6,466,899 3,054,377 5,842,438 4,886,053 4,499,709 5,353,253 8,014,128

[-] Provisão IR/CS (1,170,444) (1,117,317) (939,420) (858,354) (1,176,545) (1,034,933.08) (1,231,248.25) (1,843,249.52)

Lucro Líquido após IR/CS 3,582,089 5,349,582 2,114,957 4,984,085 3,709,508 3,464,776 4,122,005 6,170,879

EBITIDA 3,724,765.09 4,381,994.12 6,430,867.95

VP Fx Cash R$ 3,267,338 R$ 3,371,802 R$ 4,340,653

Taxa WACC 14% Valor Explicito

Calculo Pertetuidade
Valor Perpetuidade

Valor Explicito

Perpetuidade

Dividas

Valor da Empresa
 2014 2015

62,845,066.28 81,698,586.17

20,738,871.87 26,960,533.44

83,583,938.16 108,659,119.60

(6,435,963.24) (8,366,752.21) -

(18,806,386.09) (24,448,301.91)

58,341,589 75,844,065

(40,389,127.94) (51,698,083.76)

17,952,461 24,145,982

(5,834,892.71) (5,834,892.71)

(699,726.14) (699,726.14)

(259,989.11) (259,989.11)

11,157,853 17,351,374

11,157,853 17,351,374

(2,566,306.17) (3,990,815.96)

8,591,547 13,360,558

8,851,535.87 13,620,546.90

R$ 5,240,820 R$ 7,074,085

23,294,698

Base Cáculo 11,236,041

80,257,438
41,683,199

23,294,698

41,683,199

(902,227)

64,075,670
 Anos 2011 2012 2013 2014 2015
Vendas 10.0% 15.0% 20.0% 25.0% 30.0%
Vendas Canceladas 7.7% 7.7% 7.7% 7.7% 7.7%
Impostos 21.0% 22.5% 22.5% 22.5% 22.5%
Custos 9.0% 14.0% 19.0% 26.0% 28.0%
Despesas 0.0% 3.0% 0.0% 3.0% 0.0%
IRJP e CSLL 23.0% 23.0% 23.0% 23.0% 23.0%

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