Quarterly Earnings Release

4Q09 and 2009 Results

  • Net revenue: R$ 643.2mn in 2009 (–11.3% vs. 2008)
  • Adjusted EBITDA: R$ 67.6mn in 2009 (+73.6% vs. 2008), with a margin of 10.5% (5.4% in 2008)
  • Net profit: R$ 34.8mn in 2009 (loss in 2008)
  • Operating cash flow: R$ 132.1mn in 2009 (4.1 times 2008)
  • Net debt: R$ 110.5mn in 2009 (R$ 218.2mn in 2008)

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