DOEPE 04/06/2020 -Pág. 11 -Poder Executivo -Diário Oficial do Estado de Pernambuco
Recife, 4 de junho de 2020
Diário Oficial do Estado de Pernambuco - Poder Executivo
JCPM PARTICIPAÇÕES E EMPREENDIMENTOS S.A.
RELATÓRIO DA ADMINISTRAÇÃO - Senhores acionistas, em cumprimento às determinações legais e estatutárias, submetemos à apreciação de V. Sas. as demonstrações
¿QDQFHLUDVUHODWLYDVDRVH[HUFtFLRVHQFHUUDGRVHPGHGH]HPEURGH HGHHUHODWyULRGRDXGLWRULQGHSHQGHQWH
Balanço patrimonial em 31 de dezembro - Em milhares de reais
Ativo
Circulante
&DL[DHHTXLYDOHQWHVGHFDL[D 1RWD
&RQWDVDUHFHEHU 1RWD
Contas a receber de partes
UHODFLRQDGDV 1RWD
'LYLGHQGRVHMXURVVREUHFDSLWDO
SUySULR 1RWD
7ULEXWRVDUHFXSHUDU 1RWD
9DORUHVDUHVWLWXLU 1RWD
2XWURVDWLYRV
1mRFLUFXODQWH
5HDOL]iYHODORQJRSUD]R
9DORUHVDUHVWLWXLU 1RWD
(PSUpVWLPRVFRQFHGLGRV 1RWD
7ULEXWRVGLIHULGRV 1RWD
'HSyVLWRVMXGLFLDLV 1RWD
,QYHVWLPHQWRVHPHPSUHVDV 1RWD
3URSULHGDGHVSDUDLQYHVWLPHQWR 1RWD
,PRELOL]DGR 1RWD
,QWDQJtYHO 1RWD
'LIHULGR 1RWD
7RWDOGRDWLYR
Controladora
2019
2018
Consolidado
2019
2018
Passivo e patrimônio líquido
Circulante
)RUQHFHGRUHV
)LQDQFLDPHQWRV 1RWD
6DOiULRVHHQFDUJRVVRFLDLV
7ULEXWRVDSDJDU
-XURVVREUHFDSLWDOSUySULRH
GLYLGHQGRVSURSRVWRV
2XWURVSDVVLYRV
Controladora
2019
2018
1mRFLUFXODQWH
)LQDQFLDPHQWRV 1RWD
7ULEXWRVDSDJDU 1RWD
7ULEXWRVGLIHULGRV 1RWD
3URYLVmRSDUDFRQWLQJrQFLDV
3DWULP{QLROtTXLGR 1RWD
$WULEXtGRDRVDFLRQLVWDVGD&RQWURODGRUD
&DSLWDOVRFLDO
5HVHUYDGHOXFURV
Participação dos não controladores
7RWDOGRSDVVLYRHGRSDWULP{QLROtTXLGR
Consolidado
2019
2018
Demonstração das mutações do patrimônio líquido - Em milhares de reais
Em 1º de janeiro de 2018
/XFUROtTXLGRGRH[HUFtFLR
-XURVVREUHFDSLWDOSUySULR 1RWD G
'LYLGHQGRVGLVWULEXtGRV
'LYLGHQGRVSURSRVWRV
$XPHQWRGHFDSLWDO 1RWD D
&RQVWLWXLomRGHUHVHUYDV 1RWD E
Em 31 de dezembro de 2018
/XFUROtTXLGRGRH[HUFtFLR
-XURVVREUHFDSLWDOSUySULR 1RWD G
'LYLGHQGRVGLVWULEXtGRV 1RWD F
'LYLGHQGRVSURSRVWRV
$XPHQWRGHFDSLWDO 1RWD D
&RQVWLWXLomRGHUHVHUYDV 1RWD E
Em 31 de dezembro de 2019
Capital
social
Atribuível aos acionistas da controladora
Reserva de lucros
Lucros
Legal
Retenção acumulados
Total
-
Participação dos
não controladores
Total
1RWDVH[SOLFDWLYDVGDDGPLQLVWUDomRjVGHPRQVWUDo}HV¿QDQFHLUDVHPGHGH]HPEURGH
Em milhares de reais, exceto quando indicado de outra forma
Seção A – Informações gerais
1.1. Contexto operacional $ -&30 3$57,&,3$d®(6 ( (035((1',0(1726 6$
³&RPSDQKLD´ HVXDVFRQWURODGDV FRQMXQWDPHQWH³R*UXSR´ WHPSRUREMHWRDSDUWLFLSDomRVRFLHWiULDHPHPSUHVDVHHPSUHHQGLPHQWRVHPSUHVDULDLVRLQYHVWLPHQWRHPEHQV
PyYHLVHLPyYHLVEHPFRPRVXDDGPLQLVWUDomRHORFDomR
A Companhia é uma sociedade anônima de capital fechado, com sede em Recife – PE.
$HPLVVmRGHVWDVGHPRQVWUDo}HV¿QDQFHLUDVIRLDXWRUL]DGDSHODGLUHWRULDGD&RPSDQKLD
HPGHDEULOGH
1.2. Base de preparação$VGHPRQVWUDo}HV¿QDQFHLUDVLQGLYLGXDLVGDFRQWURODGRUDH
DVGHPRQVWUDo}HV¿QDQFHLUDVFRQVROLGDGDVIRUDPSUHSDUDGDVFRQIRUPHDVSUiWLFDVFRQtábeis adotadas no Brasil incluindo os pronunciamentos emitidos pelo Comitê de PronunFLDPHQWRV&RQWiEHLV &3& HHYLGHQFLDPWRGDVDVLQIRUPDo}HVUHOHYDQWHVSUySULDVGDV
GHPRQVWUDo}HV¿QDQFHLUDVHVRPHQWHHODVDVTXDLVHVWmRFRQVLVWHQWHVFRPDVXWLOL]DGDV
pela administração na sua gestão.
$V SULQFLSDLV SROtWLFDV FRQWiEHLV DSOLFDGDV QD SUHSDUDomR GHVVDV GHPRQVWUDo}HV ¿QDQFHLUDVDVTXDLVIRUDPDSOLFDGDVGHPRGRFRQVLVWHQWHQRVH[HUFtFLRVDSUHVHQWDGRVHVWmR
DSUHVHQWDGDVQD1RWD
1.3. Normas, alterações e interpretações - As seguintes normas foram adotadas pela
SULPHLUDYH]SDUDRH[HUFtFLRLQLFLDGRHPGHMDQHLURGH &3& 5 ±³2SHUDo}HV
GH$UUHQGDPHQWR0HUFDQWLO´H,&3&±³,QFHUWH]DVREUH7UDWDPHQWRGH7ULEXWRVVREUHD
5HQGD´$DGPLQLVWUDomRDYDOLRXDVDOWHUDo}HVWUD]LGDVSRUHVVDVQRUPDVHFRQFOXLXTXH
não há impactos decorrentes de suas aplicações.
1.4. Consolidação
D 'HPRQVWUDo}HV¿QDQFHLUDVFRQVROLGDGDV - Controladas são todas as entidades nas
TXDLVR*UXSRGHWpPRFRQWUROH2*UXSRFRQWURODXPDHQWLGDGHTXDQGRHVWiH[SRVWRRX
WHPGLUHLWRDUHWRUQRVYDULiYHLVGHFRUUHQWHVGHVHXHQYROYLPHQWRFRPDHQWLGDGHHWHPD
FDSDFLGDGHGHLQWHUIHULUQHVVHVUHWRUQRVGHYLGRDRSRGHUTXHH[HUFHVREUHDHQWLGDGH$V
FRQWURODGDVVmRWRWDOPHQWHFRQVROLGDGDVDSDUWLUGDGDWDHPTXHRFRQWUROHpWUDQVIHULGR
SDUDR*UXSRHGHL[DPGHVHUFRQVROLGDGDVDSDUWLUGDGDWDHPTXHR*UXSRGHL[DGHWHU
o controle.
2*UXSRWUDWDDVWUDQVDo}HVFRPSDUWLFLSDo}HVHPQmRFRQWURODGRUDVFRPRWUDQVDo}HV
FRPSURSULHWiULRVGHDWLYRVGR*UXSR3DUDDVFRPSUDVGHSDUWLFLSDo}HVHPQmRFRQWURODGRUDVDGLIHUHQoDHQWUHTXDOTXHUFRQWUDSUHVWDomRSDJDHDSDUFHODDGTXLULGDGRYDORU
FRQWiELOGRVDWLYRVOtTXLGRVGDFRQWURODGDpUHJLVWUDGDQRSDWULP{QLROtTXLGR2VJDQKRVRX
perdas sobre alienações para participações em não controladoras também são registrados
QRSDWULP{QLROtTXLGR
&ROLJDGDVVmRWRGDVDVHQWLGDGHVVREUHDVTXDLVR*UXSRWHPLQÀXrQFLDVLJQL¿FDWLYDPDV
QmRRFRQWUROHJHUDOPHQWHSRUPHLRGHXPDSDUWLFLSDomRVRFLHWiULDGHDGRV
GLUHLWRVGHYRWR2VLQYHVWLPHQWRVHPFROLJDGDVVmRFRQWDELOL]DGRVSHORPpWRGRGHHTXLYDOrQFLDSDWULPRQLDOHVmRLQLFLDOPHQWHUHFRQKHFLGRVSHORVHXYDORUGHFXVWR
$SDUWLFLSDomRGR*UXSRQRVOXFURVRXSUHMXt]RVGHVXDVFROLJDGDVSyVDTXLVLomRpUHFRQKHFLGDQDGHPRQVWUDomRGRUHVXOWDGR4XDQGRDSDUWLFLSDomRGR*UXSRQDVSHUGDVGH
XPDFROLJDGDIRULJXDORXVXSHULRUDRYDORUFRQWiELOGRLQYHVWLPHQWRLQFOXLQGRTXDLVTXHU
RXWURVUHFHEtYHLVR*UXSRQmRUHFRQKHFHSHUGDVDGLFLRQDLVDPHQRVTXHWHQKDLQFRUULGR
em obrigações ou efetuado pagamentos em nome da coligada.
2VJDQKRVHDVSHUGDVGHGLOXLomRRFRUULGRVHPSDUWLFLSDo}HVHPFROLJDGDVVmRUHFRQKHcidos na demonstração do resultado.
2VJDQKRVQmRUHDOL]DGRVGDVRSHUDo}HVHQWUHR*UXSRHVXDVFROLJDGDVVmRHOLPLQDGRV
QDSURSRUomRGDSDUWLFLSDomRGR*UXSR$VSHUGDVQmRUHDOL]DGDVWDPEpPVmRHOLPLQDGDV
DPHQRVTXHDRSHUDomRIRUQHoDHYLGrQFLDVGHXPDSHUGD LPSDLUPHQW GRDWLYRWUDQVIHULGR$VSROtWLFDVFRQWiEHLVGDVFROLJDGDVVmRDOWHUDGDVTXDQGRQHFHVViULRSDUDDVVHJXUDU
FRQVLVWrQFLDFRPDVSROtWLFDVDGRWDGDVSHOR*UXSR
E 'HPRQVWUDo}HV¿QDQFHLUDVLQGLYLGXDLV1DVGHPRQVWUDo}HV¿QDQFHLUDVLQGLYLGXDLV
DVFRQWURODGDVHDVFROLJDGDVVmRFRQWDELOL]DGDVSHORPpWRGRGHHTXLYDOrQFLDSDWULPRQLDO
2VPHVPRVDMXVWHVVmRIHLWRVWDQWRQDVGHPRQVWUDo}HV¿QDQFHLUDVLQGLYLGXDLVTXDQWRQDV
GHPRQVWUDo}HV ¿QDQFHLUDV FRQVROLGDGDV SDUD FKHJDU DR PHVPR UHVXOWDGR H SDWULP{QLR
OtTXLGRDWULEXtYHODRVDFLRQLVWDVGD&RQWURODGRUD
Seção B – Riscos
2. Estimativas e julgamentos contábeis críticos $V HVWLPDWLYDV H RV MXOJDPHQWRV
FRQWiEHLVVmRFRQWLQXDPHQWHDYDOLDGRVHEDVHLDPVHQDH[SHULrQFLDKLVWyULFDHHPRXWURV IDWRUHV LQFOXLQGR H[SHFWDWLYDV GH HYHQWRV IXWXURV FRQVLGHUDGDV UD]RiYHLV SDUD DV
circunstâncias.
A preparaçmR GH GHPRQVWUDo}HV ¿QDQFHLUDV UHTXHU R XVR GH FHUWDV HVWLPDWLYDV FRQWiEHLV FUtWLFDV H R H[HUFtFLR GH MXOJDPHQWR SRU SDUWH GD DGPLQLVWUDomR GR *UXSR QR SURFHVVRGHDSOLFDomRGDVSROtWLFDVFRQWiEHLVGR*UXSR$VGHPRQVWUDo}HV¿QDQFHLUDVGR
*UXSRLQFOXHPSRUWDQWRHVWLPDWLYDVUHIHUHQWHVjGLYXOJDomRGHYDORUMXVWRHjVHOHomR
GDVYLGDV~WHLVGHSURSULHGDGHVSDUDLQYHVWLPHQWRGRDWLYRLPRELOL]DGRHGHLQWDQJtYHLV
GHWHUPLQDomRGHSURYLV}HVSDUDSHUGDVHVWLPDGDVGHFUpGLWRVSDUDFRQWLQJrQFLDVSDUD
WULEXWRVHRXWUDVVLPLODUHV2VUHVXOWDGRVUHDLVSRGHPDSUHVHQWDUYDULDo}HVHPUHODomR
jVHVWLPDWLYDV
Seção C – Notas explicativas relevantes selecionadas
,QVWUXPHQWRV¿QDQFHLURV2*UXSRSRVVXLXPDSROtWLFDGHLQYHVWLPHQWRFRPRREMHWLYRGHHVWDEHOHFHUGLUHWUL]HVSDUDJHVWmRGRFDL[D&RPDLQWHQomRGHPLQLPL]DUULVFRV
RFDSLWDOpDORFDGRHPDSOLFDo}HVFRQVHUYDGRUDVHPEDQFRVGHSULPHLUDOLQKDDVTXDLV
SRVVXHP OLTXLGH] LPHGLDWD H WHP UHPXQHUDomR DWUHODGD j YDULDomR GRV FHUWL¿FDGRV GH
GHSyVLWRLQWHU¿QDQFHLUR±&',
2*UXSRRSHUDFRPLQVWUXPHQWRV¿QDQFHLURVFRPGHVWDTXHSDUDFDL[DHHTXLYDOHQWHVGH
FDL[DLQFOXLQGRDSOLFDo}HV¿QDQFHLUDVHPSUpVWLPRVFRQFHGLGRVHFDSWDomRGH¿QDQFLDPHQWRV'XUDQWHRVH[HUFtFLRVGH HGHSRUpPR*UXSRQmRFHOHEURXFRQWUDWRV
TXHSRVVDPVHUFRQVLGHUDGRVFRPRLQVWUXPHQWRV¿QDQFHLURVGHULYDWLYRV
2V YDORUHV UHJLVWUDGRV QR DWLYR H QR SDVVLYR FLUFXODQWH WrP OLTXLGH] LPHGLDWD RX YHQFLPHQWRHPVXDPDLRULDHPSUD]RVLQIHULRUHVDWUrVPHVHV&RQVLGHUDQGRDQDWXUH]DR
SUD]RHDVFDUDFWHUtVWLFDVGHVVHVLQVWUXPHQWRVTXHVmRVLVWHPDWLFDPHQWHUHQHJRFLDGRV
DDGPLQLVWUDomRDYDOLDTXHR*UXSRQmRHVWiH[SRVWRDULVFRVUHOHYDQWHVGHFUpGLWRGH
OLTXLGH]HGHPHUFDGREHPFRPRQmRWHPH[SHFWDWLYDGHGLIHUHQoDVVLJQL¿FDWLYDVTXDQGR
GDUHDOL]DomRGHVVHVLQVWUXPHQWRV
4. Caixa e equivalentes de caixa
Controladora
Consolidado
2019
2018
2019
2018
'LQKHLURHPFDL[D
5HFXUVRVHPFRQWDFRUUHQWH
$SOLFDo}HVFRPOLTXLGH]LPHGLDWD
5. Contas a receber
Consolidado
2019
2018
5HPHVVDVDUHFHEHU D
$OXJXpLVDUHFHEHU
&HVV}HVGHGLUHLWRDUHFHEHU±³5HVVSHUDWD´
2XWUDV
3URYLVmRSDUDSHUGDVHVWLPDGDVGHFUpGLWRV E
(a) 5HIHUHPVHDRVYDORUHVGHDOXJXpLVHGH³5HV6SHUDWD´MiUHFHELGRVSHORVFRQGRPtQLRV
GRV HPSUHHQGLPHQWRV SRUpP QmR UHSDVVDGRV DR *UXSR DWp R ¿P GR H[HUFtFLR (VVHV
YDORUHVIRUDPUHSDVVDGRVQRLQtFLRGRPrVVXEVHTXHQWH
(b) $SURYLVmRSDUDSHUGDVHVWLPDGDVGHFUpGLWRVpFRQVWLWXtGDHPPRQWDQWHMXOJDGRVX¿FLHQWHSDUDID]HUIDFHDHYHQWXDLVSHUGDVQDUHDOL]DomRGRFRQWDVDUHFHEHUFRPEDVH
HPDQiOLVHLQGLYLGXDOGHFDGDGHYHGRU(P R*UXSRUHYHUWHXSURYLVmRSDUDSHUGDV
HVWLPDGDVGHFUpGLWRVQRPRQWDQWHGH5 ±FRQVWLWXLXSURYLVmRGH5
6. Partes relacionadas
Dividendos e juros sobre
capital próprio a receber
2019
2018
Controladas:
5LRPDU6KRSSLQJ6$
6KRSSLQJ&HQWHU-DUGLQV6$
(0$0,3DUWLFLSDo}HV6$
6DOYDGRU1RUWH6KRSSLQJ6$
5LRPDU6KRSSLQJ$UDFDMX6$
Shoppingpar Participações e Empreendimentos S.A.
Total controladora
Participações indiretas:
*XDUDUDSHV3DUNLQJ/WGD
5HFLIH3DUNLQJ/WGD
5HFLIH/RFDGRUDGH(TXLSDPHQWRVSDUD$XWRJHUDomR/WGD
ASCR – Administradora Shopping Center Recife Ltda.
Total consolidado
Ano XCVII • NÀ 103 - 11
CNPJ 11.483.096/0001-02
'HPRQVWUDomRGRUHVXOWDGR([HUFtFLRV¿QGRVHPGHGH]HPEUR
Em milhares de reais, exceto quando indicado de outra forma
Controladora
Consolidado
2019
2018
2019
2018
Receitas líquidas (Nota 13)
'HVSHVDVDGPLQLVWUDWLYDV
'HVSHVDVJHUDLV 1RWD
'HSUHFLDomRHDPRUWL]DomR
5HYHUVmR FRQVWLWXLomR GHSURYLVmRSDUD
SHUGDVGHFUpGLWRV
5HYHUVmR FRQVWLWXLomR GHSURYLVmRSDUDFRQWLQJrQFLDV
5HVXOWDGRGHHTXLYDOrQFLDSDWULPRQLDO 1RWD
'LYLGHQGRVUHFHELGRV 1RWD
2XWUDVUHFHLWDV GHVSHVDV OtTXLGDV
Lucro operacional
5HVXOWDGRGHHTXLYDOrQFLDSDWULPRQLDO 1RWD
'LYLGHQGRVUHFHELGRV 1RWD
5HFHLWDV¿QDQFHLUDV
'HVSHVDV¿QDQFHLUDV
(QFDUJRVVREUH¿QDQFLDPHQWRV 1RWD
2XWUDVGHVSHVDV¿QDQFHLUDV
Lucro antes do imposto de renda e da
contribuição social
,PSRVWRGHUHQGDHFRQWULEXLomRVRFLDOGLIHULGRV 1RWD
&RQWULEXLomRVRFLDO 1RWD
,PSRVWRGHUHQGD 1RWD
-
Lucro líquido do exercício
$WULEXtYHOD
$FLRQLVWDVGD&RPSDQKLD
Participação dos não controladores
$o}HVHPFLUFXODomRQR¿QDOGRH[HUFtFLR HPPLOKDUHV
/XFURSRUORWHGHPLODo}HVGRFDSLWDOVRFLDOQR¿P
GRH[HUFtFLR±5
Demonstração do resultado abrangente
([HUFtFLRV¿QGRVHPGHGH]HPEUR(PPLOKDUHVGHUHDLV
2019
2018
2019
/XFUROtTXLGRGRH[HUFtFLR
2XWURVFRPSRQHQWHVGRUHVXOWDGRDEUDQJHQWH
7RWDOGRUHVXOWDGRDEUDQJHQWHGRH[HUFtFLR
Atribuível a:
$FLRQLVWDVGD&RPSDQKLD
Participação dos não controladores
2018
'HPRQVWUDomRGRVÀX[RVGHFDL[D([HUFtFLRV¿QGRVHPGHGH]HPEUR
Em milhares de reais
Controladora
Consolidado
2019
2018
2019
2018
Fluxos de caixa das atividades operacionais
Lucro antes do imposto de renda e da
contribuição social
$MXVWHVGH
'HSUHFLDomRHDPRUWL]DomR
Valor residual de propriedades para
LQYHVWLPHQWREDL[DGDV
9DORUUHVLGXDOGRLPRELOL]DGREDL[DGR
5HVXOWDGRGDHTXLYDOrQFLDSDWULPRQLDO
%DL[DGHYDORUHVDUHVWLWXLU
3URYLV}HVFRQVWLWXtGDV UHYHUWLGDV OtTXLGDV
3HUGDVHMXURVGHHPSUpVWLPRVFRQFHGLGRV
%DL[DGHVDOiULRVHHQFDUJRV
-XURVHHQFDUJRVVREUH¿QDQFLDPHQWRV
-XURVHEDL[DVGHWULEXWRVDUHFXSHUDUH
GHSyVLWRVMXGLFLDLV
9DULDo}HVQRVDWLYRVHSDVVLYRV
&RQWDVDUHFHEHU
&RQWDVDUHFHEHUGHHPSUHVDVOLJDGDV
7ULEXWRVDUHFXSHUDU
9DORUHVDUHVWLWXLU
2XWURVDWLYRV
)RUQHFHGRUHV
6DOiULRVHHQFDUJRVVRFLDLV
7ULEXWRVDSDJDU
$GLDQWDPHQWRVUHFHELGRV
2XWURVSDVVLYRV
-
Caixa gerado pelas (aplicado nas) operações
-XURVHHQFDUJRVSDJRV
Imposto de renda e contribuição social pagos
Caixa líquido gerado pelas (aplicado nas)
atividades operacionais
Fluxos de caixa das atividades de investimento
'HSyVLWRVMXGLFLDLVHIHWXDGRV
(PSUpVWLPRV FRQFHGLGRV OtTXLGRVGHUHFHELPHQWRV
$XPHQWRGHFDSLWDOHPLQYHVWLGDV 1RWD
5HFHELPHQWRSRUUHGXomRGHFDSLWDOHPLQYHVWLGDV
'LYLGHQGRVHMXURVVREUHFDSLWDOSUySULRUHFHELGRV
$TXLVLo}HVGHSURSULHGDGHVSDUDLQYHVWLPHQWR
$TXLVLo}HVGHEHQVGRDWLYRLPRELOL]DGR 1RWD
$TXLVLo}HVGHDWLYRVLQWDQJtYHLV 1RWD
-
-
Caixa líquido gerado pelas (aplicado nas)
atividades de investimento
)OX[RVGHFDL[DGDVDWLYLGDGHVGH¿QDQFLDPHQWR
,QWHJUDOL]DomRGHFDSLWDOSHORVDFLRQLVWDV 1RWD D
&DSWDomRGH¿QDQFLDPHQWRV
$PRUWL]DomRGH¿QDQFLDPHQWRV
'LYLGHQGRVHMXURVVREUHFDSLWDOSUySULRSDJRV
&DL[DOtTXLGRDSOLFDGRQDVDWLYLGDGHVGH¿QDQFLDPHQWR
Aumento (redução) líquido de caixa e
equivalentes de caixa
Caixa e equivalentes de caixa no início do exercício
&DL[DHHTXLYDOHQWHVGHFDL[DQR¿QDOGRH[HUFtFLR
A&RPSDQKLDpSDUWHLQWHJUDQWHGHXPJUXSRGHHPSUHVDVGHQRPLQDGR*UXSR-&30TXHDWXDGH
IRUPDLQWHJUDGDHRVEHQHItFLRVGDVHVWUXWXUDVRSHUDFLRQDOHDGPLQLVWUDWLYDVmRDWULEXtGRVDFDGD
HPSUHVDVHJXQGRDUD]RDELOLGDGHGDVVXDVRSHUDo}HV 1RWD
2VDOGRGHFRQWDVDUHFHEHUGHSDUWHVUHODFLRQDGDVQRYDORUGH5 ±5 QD
FRQWURODGRUDHGH5 ±5 QRFRQVROLGDGRUHIHUHVHDYDORUHVDGLDQWDGRVSHOD
&RPSDQKLD UHODWLYRV jV HVWUXWXUDV RSHUDFLRQDO H DGPLQLVWUDWLYD GR JUXSR HFRQ{PLFR QR TXDO D
PHVPDHVWiLQVHULGDTXHVmRUHHPEROVDGRVPHQVDOPHQWHSHODVGHPDLVHPSUHVDVGRJUXSR
2SHVVRDOFKDYHGDDGPLQLVWUDomRGD&RPSDQKLDHVWiUHSUHVHQWDGRSHORVGLUHWRUHVFXMDUHPXQHUDomRDQXDOSDJDRXSURYLVLRQDGDFRUUHVSRQGHDRSUyODERUHHDRVVDOiULRVHHQFDUJRVQRPRQWDQWHGH5 ±5 $UHPXQHUDomRDQXDOGRSHVVRDOFKDYHGDDGPLQLVWUDomRGR
*UXSRIRLGH5 ±5
7. Investimentos em empresas
Controladora
Consolidado
2019
2018
2019
2018
,QYHVWLPHQWRVHPFRQWURODGDV
Ágio em controladas
,QYHVWLPHQWRVHPFROLJDGDV
Total controladas e coligadas
,QYHVWLPHQWRVDRYDORUMXVWR
CONTINUA