Demonstrações Financeiras Furnas 2011

The year 2011 was a period of significant activity and performance for Furnas Centrais Elétricas S.A., one of Brazil's major electric power generation and transmission companies. Analyzing Furnas's financial statements for 2011 provides insights into its operational efficiency, financial stability, and contributions to the Brazilian energy sector.

A key aspect of the 2011 financial statements is the reported net revenue. The reported value is a crucial indicator of Furnas's ability to generate income from its core activities: the sale of electricity. Performance within this area impacts the profitability and overall financial position of the enterprise. The revenue stream reflected factors such as electricity demand, generation capacity, and contracted energy rates. Comparing 2011's revenue with previous years reveals growth patterns and the influence of market conditions.

Operating costs also play a critical role in determining Furnas's profitability. These costs encompass the expenses related to power generation, transmission, maintenance, and administrative functions. Scrutinizing the breakdown of operating costs reveals areas where Furnas excelled in cost management and identifies areas for potential improvement. A comprehensive analysis might focus on fuel costs (if applicable), personnel expenses, depreciation of assets, and other operational expenditures.

Profitability metrics, such as net profit and earnings before interest, taxes, depreciation, and amortization (EBITDA), are fundamental for assessing Furnas's financial health. A higher net profit demonstrates stronger financial performance and signals the company's ability to generate profits after accounting for all expenses, including taxes and interest. EBITDA provides a measure of operational profitability, excluding the impact of financing and accounting decisions. Margins derived from these metrics showcase Furnas's efficiency in converting revenue into profit.

Beyond the income statement, the balance sheet provides a snapshot of Furnas's assets, liabilities, and equity at the end of 2011. Key asset categories include property, plant, and equipment (PP&E), representing the company's significant investment in power generation and transmission infrastructure. Analyzing the composition and value of PP&E highlights Furnas's capacity to generate and transmit electricity. Liabilities reflect Furnas's obligations to creditors and other parties. Equity represents the shareholders' stake in the company.

Important aspects to examine are the liquidity ratios. Examining key financial ratios, such as current ratio and quick ratio, is essential for evaluating Furnas's short-term financial health. These ratios assess the company's ability to meet its short-term obligations with its liquid assets. Additionally, debt-to-equity ratio indicates the extent to which Furnas relies on debt financing compared to equity. A higher debt-to-equity ratio might signify a higher financial risk.

Finally, the cash flow statement portrays the movement of cash within Furnas during 2011. It categorizes cash flows into operating activities, investing activities, and financing activities. Operating cash flow reflects the cash generated from Furnas's core business operations. Investing cash flow relates to the acquisition and disposal of long-term assets. Financing cash flow involves activities such as borrowing, issuing stock, and paying dividends. A positive operating cash flow indicates that Furnas is generating sufficient cash from its operations to fund its activities and meet its obligations.

Analyzing Furnas's 2011 financial statements offers a comprehensive understanding of its financial performance, stability, and role in the Brazilian energy sector. The numbers provide valuable insights into the company's revenue generation, cost management, profitability, asset base, and cash flow dynamics.