DOCSLIB.ORG

Annual Sustainability Report 2018

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Sustainability Report 2018 ANNUAL SUSTAINABILITY REPORT 2018 HIGHLIGHTS IN 2018 APR JUN ACQUISITION INAUGURATION IN AGREEMENT BRAZIL of Casa Montana, OF CONTROL of a concept store that brings National Beef, the together Montana Premium fourth largest and most Beef, Bassi and Steakhouse efficient beef company products, in Itupeva (SP). in the United States. AGO SEP PARTNERSHIP REORGANIZATION OF THE AGREEMENT with CORPORATE STRUCTURE, the Empresa Brasileira de simpler and more focused, with Pesquisa Agropecuária the creation of CEO positions (Embrapa), which covers in North and South America, as the Carbon Neutral well as the Financial, Legal and JAN FEB MAR Meat (CCN) and Low Planning Vice Presidencies. Carbon Meat (CBC) COMPLETION OF EXPANSION OF CREATION OF THE production concepts. THE OVERSEAS THE BASSI product line AGRO against Cancer bond offer, maturing in portfolio. The Pampeano program in Brazil, through NOV DEC 2025, in the amount of (RS) unit in Brazil begins which Marfrig cattle rancher US$ 1 billion. Demand production and sales of partners can donate to for the issue, mainly by ready-made sauces for meat Hospital de Amor, a center CONCLUSION OF SIGNING OF AN AGREEMENT investors in Europe, the and rice products in pouches of excellence in oncology THE SALE of Keystone for the purchase of Quickfood, a United States and Asia, and cans, initially earmarked located in Barretos (SP). Foods, in the United States, leader in the production of beef outnumbered the initial for Europe, North America whose main activity is the derived products in Argentina, and allocation by four times. and the Caribbean. chicken meat processing. the hamburger, meatball and kibe plant in Várzea Grande (MT), Brazil. 2 SUSTAINABILITY REPORT 2018 3 HIGHLIGHTS IN 2018 ENVIRONMENTAL SOCIAL ECONOMICS NET REVENUE PARTNERSHIP WITH 100% COMPLIANCE WITH MARFRIG INSTITUTE: promotes (US$ billion) an unprecedented social assistance for employees and EMBRAPA: AMAZON PRESERVATION 41,4 initiative, seeks to encourage the PRACTICES: for the seventh communities near its operations, as well 34,6 adoption of more sustainable consecutive year, the livestock as initiatives relating to culture, education, 19,8% livestock raising practices aimed acquisition processes adopted by Marfrig health, food safety and sports. at certifying meat produced in from ranches located in the Amazon systems that neutralize or reduce biome presented 100% compliance with PARTNERSHIP WITH HOSPITAL DE the emission of methane emitted the Public Commitment of Livestock in AMOR: Since December 2017, Marfrig has 2017 2018 by animals the Amazon program. supplied the meat necessary for the hospital’s daily consumption, which serves meals to ADJUSTED EBITDA WIND FARM IN URUGUAY: the THE ONLY COMPANY IN BRAZIL about 16,000 people per month. In 2018, 96 (US$ billion) Tacuarembó slaughterhouse located WITH 100% GEO-REFERENCED tons of Montana brand meats were donated 3,4 in the north-central region of the MAPS OF ITS SUPPLIERS IN THE 2,5 35,2% country, put its own wind farm on AMAZON BIOME: result achieved NEW JOBS: with the reopening of plants in line. With capacity to generate 215 through the responsible purchasing Brazil, Marfrig created, created 842 new jobs MW/hour per month, it meets 13% practices adopted by the Company. in 2018, contributing to the economic and of the unit’s electricity consumption social development of the localities where its 2017 2018 requirements. operations are present. MARFRIG CLUB: 83% of its NET DEBT supplier’s ranches already inserted (US$ billion) in some level of the program, 11,8 which seeks to encourage Brazilian 8,0 producers to adopt good animal, environmental and social welfare 42% practices. 2017 2018 4 SUSTAINABILITY REPORT 2018 5 GRI 102-14 corporating concepts such as Carbon Neutral We want to continue producing meat in a sus- Meat (CNM) and Low-Carbon Meat (LCM). tainable fashion, to reach new heights in this endeavor, and to offer protein alternatives to MESSAGE FROM In the realm of social responsibility, we can consumers while continuing to meet global point to the Marfrig Institute, which is dedicat- supply commitments for our most demanding ed to the promotion, among our partners and clients. THE EXECUTIVE within the communities bordering our opera- tions, activities related to culture, education, I would like to thank all those who have trusted BOARD health, food security and sports. In addition, and supported us in this strategy. we maintain a partnership with the Hospital de Amor, in Barretos, which includes meat do- nations helping support the daily consumption Marcos Antonio Molina dos Santos needs of the institution. In 2018, we expand- Chairman of the Board of Directors growth, a principle which will always be part of In 2018, Marfrig became the second largest ed this project, supporting the Agro Program any Marfrig strategy and which was re-affirmed beef company in the world, in terms of capac- Against Cancer, through which ranchers asso- in 2018 through our commitment to furnishing ity, and the largest global hamburger producer. ciated with Marfrig can also make such dona- sustainable value to the communities we serve. The achievement of this position is a result of tions. The adoption of practices aimed at preserva- the strategic business restructuring undertaken tion of the environment, as well as programs during the period, when we decided to focus on On yet another front, we are advancing when underpinning social responsibility and financial beef protein and higher value-added products it comes to innovation and development of stability are, therefore, of crucial importance derived from it, and to achieve a low-leverage new products such as meat based on vegeta- to us. capital structure, policies which have shaped a ble protein. These efforts show the Compa- Company even more sustainable than ever. ny’s focus on the evolution of the market, in- When it comes to environmental initiatives, we cluding the need to serve the public with new are pioneers. We are the only company in our The steps taken in 2018, in relation to both the protein options. industry with geo-referenced maps for 100% re-positioning and expansion of our business of our Amazon region suppliers, the result of as well as the enhancement of our manage- procedures we adopted to guarantee respon- ment structure, serve to re-inforce our vision sible buying. Such conduct led to our obtaining, of the future. Internally, we have revised our THE SECOND LARGEST BEEF COMPANY IN THE WORLD, A at the beginning of 2019 and for the seventh Compliance policies and have created a new POSITION THAT REFLECTS THE STRATEGIC REDIRECTION OF year in a row, the seal of 100% conformity with division specifically aimed at dealing with this THE BUSINESS, CONCENTRATED IN BEEF PROTEIN AND HIGHER the Amazon Public Cattle Ranching Commit- question. We have also instituted a Sustain- ADDED-VALUE PRODUCTS. ment, a philosophy aimed at preserving the ability Division as well as a separate Commit- biosphere. Also this year, we established a new tee on Sustainability, reporting directly to the partnership with the Brazilian Agricultural Re- Board of Directors. search Corp. (Embrapa). In our joint efforts, we will seek to encourage adoption of prac- The Company is expanding, but without giv- tices leading to sustainable cattle ranching, in- ing up anything when it comes to sustainable 6 SUSTAINABILITY REPORT 2018 7 GRI 102-14 drivers’ strike and the incident in October at to the pioneering activities, such as low carbon the Mineiros, Goiás plant; and at the Uruguay or neutral carbon meat, as well as maintaining plant, where adverse weather conditions re- and expanding those with a preventive impact, MESSAGE FROM duced the availability of animals for slaughter. such as commitment to the Amazon biome and We boosted our sales volume due to the deci- all others that preserve the environment and sion to expand and revamp our manufacturing the ecosystems into which we are inserted. THE EXECUTIVE facilities, mainly in Brazil, to better position the company and capture the benefits of a scenar- In the social context, several points deserve BOARD io presenting higher demand for beef protein highlighting: this includes our work with the coupled with local currency devaluations in the Hospital do Amor in Barretos, a point of ref- region. erence for the treatment of cancer in Bra- zil; and the non-profit Marfrig Institute, which Hence, we achieved consistent results in the pe- helps children in socially vulnerable situations. For Marfrig, 2018 was a challenging and trans- stood the quality of National Beef ’s assets at riod. Consolidated net revenues, on a pro for- Through it, a series of physical and intellectual formational year. With a new direction in the the time of the acquisition — but the results ma basis, totaled US$ 41.4 billion, an increase development programs are offered, with sports business strategy, now focused on beef pro- were better than the projections, boosted by of 19.8% over 2017. Adjusted EBITDA of US$ and leisure activities that are aimed at encour- tein and higher value-added products, we have the excellent cycle at this moment in the United 3.4 billion was a record, up 35.2% in comparison aging good citizenship practices and respect for made adjustments to our management path. States, by the wide availability of animals and with the previous period. The adjusted EBITDA the environment. We have made a change in the Company’s that country’s good economic performance. margin was 8.2%, an increase of 100 bps over operating structure, now represented by two 2017. Net income of US$ 1.4 billion, for its part, We will continue to focus our efforts to max- platforms: North and South America. This new In South America, we made important acqui- demonstrated a significant improvement over the imize the value of operations in North and design favors maximization of the Company’s sitions in Argentina and Brazil, aligned with the previous year, explained by the record result of South America, with more profitable channels operational footprint marked by its presence in strategy of growth in higher value-added prod- Operation North America and the positive im- and higher value-added products.
Load more

Recommended publications
  • Norges Bank Norway
    Norges Bank Norway Active This profile is actively maintained Send feedback on this profile Created before Nov 2016 Last update: Mar 23 2021 About Norges Bank Norges Bank, established in 1816, is the central bank of Norway. The bank does not offer any banking services to the general public. Its mandate is to promote economic stability in Norway. Norges Bank has executive and advisory responsibilities in the area of monetary policy and is responsible for promoting robust and efficient payment systems and financial markets. Norges Bank, via its subsidiary Norges Bank Investment Management, manages Norway's foreign exchange reserves and the Government Pension Fund Global, also known as the Oil Fund, which was established in 1990 to invest the surplus revenues of the Norwegian petroleum sector. This is the largest sovereign wealth fund in the world. Website http://www.norges-bank.no Headquarters Bankplassen 2 0151 Oslo Norway CEO/chair Øystein Olsen Chairman Supervisor Annual report Annual report 2020 Ownership Norges Bank is owned by the Norwegian state. Complaints and grievances Sustainability Voluntary initiatives Norges Bank has committed itself to the following voluntary standards: Extractive Industries Transparency Initiative Principles for Responsible Investment (PRI) United Nations Global Compact Investment policies Norges Bank Investment Management's webpage on corporate social responsibility can be accessed here. Exclusion of companies Elco, Ashtrom Group, Electra and Oil & Natural Gas Corp. Exclusion due to unacceptable risk that
    [Show full text]
  • Instruções De Navegação Sobre Este Relatório Qualidade Os Produtos Da Mensagem Do Presidente Marfrig Beef São
    SOBRE ESTE RELATÓRIO OS PRODUTOS DA MARFRIG BEEF SÃO RECONHECIDOS MENSAGEM DO CHAIRMAN MUNDIALMENTE PELA INSTRUÇÕES DE NAVEGAÇÃO SOBRE ESTE RELATÓRIO QUALIDADE OS PRODUTOS DA MENSAGEM DO PRESIDENTE MARFRIG BEEF SÃO RECONHECIDOS MENSAGEM DO CHAIRMAN Por suas práticas, a Marfrig Beef foi a primei- MARFRIG BEEF – ARGENTINA VOLTAR PARA A CAPA ra empresa de alimentos do mundo a assinar Na Argentina, a Companhia conta com duas MUNDIALMENTE PELA compromisso público com o Greenpeace para unidades de processamento de bovinos, locali- SOBRE ESTE RELATÓRIO ESTRUTURA DE NEGÓCIOS GRI G4-4,DOWNLOAD G4-8, assegurar a compra de gado legal e combater zadas nas cidades de Hughes (Província de San- PERFIL ORGANIZACIONAL QUALIDADE G4-9 o desmatamento no Bioma Amazônia, além de ta Fé) e Vila Mercedes (Província de San Luis). ter sido a primeira empresa produtora de carne OS PRODUTOS DA MENSAGEM DO PRESIDENTE MARFRIG BEEF IMPRESSÃO do mundo a ter uma unidade produtiva certifi- Alinhados às práticas de responsabilidade social NAVEGAÇÃO Conta com mais de 22 mil colaboradores e participa com cada pela Rainforest Alliance Certified™. corporativa da Marfrig Beef, todos os colabo- POR CAPÍTULO MARFRIG BEEF SÃO 46% da receita total do grupo, sendo que 80% da receita radores passam por treinamento e participam MENSAGEM DO CHAIRMAN GESTÃO GESTÃO EMPRESARIAL RECONHECIDOS advém da operação do Brasil, 14% dos negócios das filiais A divisão também é parceira de diversas as- de apresentações institucionais antes de serem Por suas práticas, a Marfrig Beef foi a primei- MARFRIG
    [Show full text]
  • STATE-OWNED ENTERPRISES in BRAZIL: HISTORY and LESSONS by Aldo Musacchio and Sergio G
    Workshop on State-Owned Enterprises in the Development Process Paris, 4 April 2014 OECD Conference Centre, Room 4 STATE-OWNED ENTERPRISES IN BRAZIL: HISTORY AND LESSONS by Aldo Musacchio and Sergio G. Lazzarini This paper serves as background material for the Workshop on SOEs in the Development Process taking place in Paris on 4 April 2014. It was prepared by Aldo Musacchio and Sergio G. Lazzarini working as consultants for the OECD Secretariat. The opinions and views expressed and arguments employed herein are those of the author and do not necessarily reflect or represent the official views of the OECD or of the governments of its member countries. STATE-OWNED ENTERPRISES IN BRAZIL: HISTORY AND LESSONS Aldo Musacchio Harvard Business School and NBER Sergio G. Lazzarini Insper Prepared for The Working Party on State-Ownership and Privatisation Practices OECD (Revised version, February 28, 2014) INTRODUCTION Despite decades of liberalization and privatization in many countries, state ownership and state-led business activity remains widespread (Christiansen, 2011). Governments still often use state-owned enterprises (SOEs) to promote local development and invest in sectors in which private investment is scant. Many SOEs endured over the years and turned into large corporations partnering with market investors and competing on a global scale against private multinationals. The forms of ownership and control governments use in the set of surviving SOEs is, however, poorly understood. Beyond the traditional wholly-owned SOEs, governments also intervene to support specific industries by propping up privately held enterprises (i.e., “national champions”). These private firms receive government support in the form of minority equity investments, direct subsidized loans from development banks, and equity and debt purchases by sovereign wealth funds.
    [Show full text]
  • U.S. Companies That Are Combating the Impacts of Covid-19 in Brazil 2 U.S
    U.S. COMPANIES THAT ARE COMBATING THE IMPACTS OF COVID-19 IN BRAZIL 2 U.S. Companies Combating the Impacts of COVID-19 in Brazil U.S. COMPANIES AND INITIATIVES combating the impacts of the pandemic in Brazil The COVID-19 crisis has mobilized the whole world, and many U.S. companies are engaged in initiatives to help com- bat the impacts of the pandemic globally. Some of them are present in Brazil and have partnered with local governments and organizations to implement campaigns and make dona- tions in money, services and equipment. The aim is to help enhance the Brazilian healthcare system capacity and sup- port the most vulnerable population to cope with their chal- lenges in following measures of social distancing, hygiene and protection, as well as economic insecurity. Here are some of these initiatives, compiled by the U.S. Mission in Brazil in partnership with the American Chamber (Amcham) and the NGO +Unidos: The information in this Fact Sheet was received directly from the companies featured, or from public sources. 3M ACCENTURE The company donated 1 million N95 masks The company is donating a total of R$ 13.7 million to hospitals, policemen, firemen and the Red to Brazil. It created 6 digital platforms for social Cross, and also respirators to more than 20 wellbeing for free, and gave R$ 1 million to an hospitals in vulnerable communities, in a total NGO that trains refugees, micro-entrepreneurs of US$ 186,265. It is also donating raw materials and youth apprenticeship. It created an app that to other firms who are producing alcohol gels, helped the NGO Gerando Falcões disburse R$ 8 providing meals to truck drivers and channeling million to over 130,000 people across 70 favelas.
    [Show full text]
  • Consolidated 1Q21 Highlights Operating Highlights Financial
    Earnings Release | 1Q21 São Paulo, May 11, 2021 – Marfrig Global Foods S.A. – Marfrig (B3 Novo Mercado: MRFG3 and Level 1 ADR: MRTTY) announces today its results for the first quarter of 2021 (1Q21). Except where stated otherwise, the following operating and financial information is presented in nominal Brazilian real, in accordance with International Financial Reporting Standards (IFRS), and should be read together with the financial statements and the respective notes for the period ended March 31, 2021 filed at the Securities and Exchange Commission of Brazil (CVM). Consolidated 1Q21 Highlights • Net Revenue of R$17.2 billion (+27.7% vs. 1Q20) • Adj. EBITDA of R$1.7 billion (+39.7% vs. 1Q20) • Adj. EBITDA Margin of 9.9% (+80 bps vs. 1Q20) Base Date: May 10, 2021 • Net Income of R$279 million (vs. R$137 million loss in 1Q20) Market Cap: Operating Highlights R$ 14.4 billion Stock Price: NORTH AMERICA OPERATION MRFG3 R$ 20,22 • Net Revenue of US$2.3 billion (+5.9% vs. 1Q20) Shares Issued: • Adj. EBITDA of US$277 million (+58.4% vs. 1Q20) 711,369,913 shares • Adj. EBITDA Margin of 12.0% (+400 bps vs. 1Q20) SOUTH AMERICA OPERATION • Net Revenue of R$4.6 billion (+21.4% vs. 1Q20) • Adj. EBITDA of R$211 million (-54.6% vs. 1Q20) • Conference Call in English Adj. EBITDA Margin of 4.6% (-770 bps vs. 1Q20) Wednesday – May 12, 2021 Hour: 10 a.m. (NY-US) Dial–in: Financial Highlights TF: +1 844 204 8942 • DI: +1 412 717 9627 After conclusion of Liability Management operation: Code: Marfrig • Average Debt Cost of 4.66% p.a.
    [Show full text]
  • International Corporate Bonds Brazil: May, 2019
    International Corporate Bonds - Brazil 5/22/2019 Monthly Update Summary of Calls Macro Overview Exhibit 1 – 5 & 10 YR YTM – US (%) Yield Catcher Despite fierce competition from local debt capital markets – which have been able to 2,80 - Eldorado 8,625% / 2021 (BB-) provide competitive funding for Brazilian corporates YTD, offshore issues have been - Marfrig 8,00% / 2023 (BB-) 2,70 strong. Recent deal activity has been 3-4x oversubscribed thanks to the recent tightening 2,60 Portfolio Builder of longer-term treasuries and solid demand for higher yield bonds (i.e. CSN, Klabin, - Rede D’Or 4,95% / 2028 (BB) Marfrig and JBS). The spread between the 3M and 5YR treasuries moved from -3bps to - 2,50 - Klabin 4,88% / 2027 (BB+) - Cemig 9.25% / 2024 (B) 14bps MoM on as investors remain cautious about the trade-war tensions between China 2,40 and the US. 2,30 Long Duration - Petrobras 5,63% / 2043 (BB-) Brazil’s 5YR CDS has stabilized at 180bps (+9bps MoM) and is trading at 64bps higher than 2,20 Mexico’s CDS (+3bps YoY). Despite the recent progress towards the ongoing pension 2,10 21-Feb-19 13-Mar-19 02-Apr-19 22-Apr-19 12-May-19 Odilon Costa reform and privatizations, the government still has a long road to go in the coming 10YR 5YR 3M Analyst months. Forecasts for economic activity have diminished and Bolsonaro lost some of his Source(s): Bloomberg, prepared by Eleven Research initial popularity following several minor squabbles with the legislative. Brazilian GDP Luis Dotta estimates for 2019 currently stand at 1.24% (vs.
    [Show full text]
  • BEEF, BANKS and the BRAZILIAN AMAZON How Brazilian Beef Companies and Their International Financiers Greenwash Their Links to Amazon Deforestation
    BEEF, BANKS AND THE BRAZILIAN AMAZON How Brazilian beef companies and their international financiers greenwash their links to Amazon deforestation December 2020 Tapajós river basin, next to Sawré Muybu indigenous land, is home to the Munduruku people, Pará state, Brazil. The Brazilian government plans to build 43 dams in the region. The largest planned dam, São Luiz do Tapajós, will impact the life of indigenous peoples and riverside communities. Dams like these threaten the fragile biome of the Amazon, where rivers are fundamental to regeneration and distribution of plant species and the survival of local flora. Renewable energy, such as solar and wind, holds the key to Brazil’s energy future. © Rogério Assis / Greenpeace 2 BEEF, BANKS AND THE BRAZILIAN AMAZON How Brazilian beef companies and their international financiers greenwash their links to Amazon deforestation Introduction 4 JBS: Breaching its Commitments 8 Case Study: Breaking the Amazon’s Heart 11 Case Study: The Lawless and the Landless 15 Marfrig: Greenwashing a Greenwasher 17 Case Study: Defrauding the Amazon 18 Case Study: Marfrig, Landgrabbers and Indigenous Land 22 Minerva: The ‘Poster Child’ for Deforestation-free Investments 24 Case Study: Triumph into Tragedy 25 Case Study: A Silent Forest 26 How Credible are the Credit Rating Agencies? 28 An Absence of Laws, an Absence of Forests 29 Shop Till You Drop 30 Case Study: Too Many Signs, Too Many Warnings 31 Through the Haze 32 Recommendations 33 Methodology 35 Endnotes 45 BEEF, BANKS AND THE BRAZILIAN AMAZON 3 > In just
    [Show full text]
  • ZCH AM SICAV – Small Cap Latam Fund
    Portfolio Manager Commentary and Performance ZCH AM SICAV – Market Update Small Cap Latam Fund April was a positive month for global equities, with Latam outperforming Emerging Markets. Faster than expected economic recovery due to vaccine improvements and robust fiscal stimulus, coupled with stronger than expected corporate results. Even though inflation has been higher than expected; The FED and ECB have renewed their th commitment to monetary stimulus, reckoning that recovery has been uneven among sectors and it’s going to take a while April 30 , 2021 before reaching both inflation and unemployment rate targets. Latam rose 3.19% in USD terms, boosted by Brazil and Mexico. Chile and Peru were the main laggards heavily impacted by political noise. The region should benefit from higher commodity prices, attractive valuations trading at 11.3x P/E fwd (10% discount to its 10Y average), stronger corporative results that could keep sustaining upward earnings revisions (during the last month 21E earnings have been updated by +11%) Brazil was up +5.8% in USD terms, partially explained by a 3.5% currency appreciation. Brazilian real reached a - 12% depreciation during this year given higher fiscal uncertainty, but during April the 2021 budget approval provided some relief on the fiscal side indicating that the government and congress are willing to comprise and work together, reducing political tensions. Moreover, after the agreement, the Lower house speaker announced its commitment to resume the reform agenda, working on the tax and administrative reform, which might be approved during this year. Brazil is trading at 9.9x P/E fwd, a 10% discount to 10Y average, being one of the most attractive levels in the region.
    [Show full text]
  • Reflexo Das Boas Notícias No Desempenho Financeiro: Análise Em Empresas Brasileiras Transparentes
    REFLEXO DAS BOAS NOTÍCIAS NO DESEMPENHO FINANCEIRO: ANÁLISE EM EMPRESAS BRASILEIRAS TRANSPARENTES Resumo O objetivo do artigo consiste em verificar a associação entre o grau de otimismo da mensagem da alta administração e o desempenho reportado em índices financeiros das empresas ganhadoras do Prêmio Anefac-Fipecafi-Serasa Experian 2011. Para atribuir graus de otimismo (neutro, fraco, semiforte ou forte) às mensagens, sob a perspectiva linguística, criou-se um instrumento de análise de conteúdo segregado nas instâncias (i) conversacional, (ii) indexical e (iii) acional. A amostra foi composta por dez empresas ganhadoras do Prêmio Anefac-Fipecafi-Serasa Experian 2011. A correlação de Spearman foi calculada para verificar a associação entre o grau de otimismo e os índices de desempenho financeiro extraídos da Demonstração dos Fluxos de Caixa das empresas. Os resultados exploratórios revelam que não há associação entre índices financeiros isolados e o otimismo das mensagens da alta administração. Entretanto, considerando conjuntos de índices, verifica-se associação inversa significante entre o grau de otimismo das mensagens e os índices de dispêndio de capital e de retorno dos fluxos de caixa. Os achados sugerem que os gestores de empresas com pior desempenho financeiro de dispêndio de capital e de retorno de fluxo de caixa tendem a ser mais otimistas em suas mensagens aos acionistas, pois estas são escritas após o conhecimento do desempenho financeiro do exercício. Entende-se que os gestores buscam tranquilizar os investidores atenuando informações financeiras negativas por meio de discurso otimista. Palavras-chave: Relatório da Administração; Discurso; Otimismo; Índices Financeiros. 1 Introdução Desde 1997, o Prêmio Anefac - Fipecafi - Serasa Experian tem valorizado a seriedade, o rigor técnico, a objetividade e a transparência das informações apresentadas nas demonstrações financeiras.
    [Show full text]
  • Ersidade Federal Do Paraná Setor De Ciências Sociais Aplicadas Departamento De Contabilidade Ramon Kael Benassi Bachmann
    UNIVERSIDADE FEDERAL DO PARANÁ SETOR DE CIÊNCIAS SOCIAIS APLICADAS DEPARTAMENTO DE CONTABILIDADE RAMON KAEL BENASSI BACHMANN REFLEXO DO DESEMPENHO FINANCEIRO NAS BOAS NOTÍCIAS: ANÁLISE EM EMPRESAS BRASILEIRAS TRANSPARENTES CURITIBA 2012 RAMON KAEL BENASSI BACHMANN REFLEXO DO DESEMPENHO FINANCEIRO NAS BOAS NOTÍCIAS: ANÁLISE EM EMPRESAS BRASILEIRAS TRANSPARENTES Monografia apresentada como requisito parcial à obtenção do título de Especialista. Curso de Especialização em Controladoria do Setor de Ciências Sociais Aplicadas da Universidade Federal do Paraná. Orientador: Prof.° Dr. Romualdo Douglas Colauto. CURITIBA 2012 AGRADECIMENTOS Aos meus pais, à minha irmã e a todos os meus familiares pela confiança, incentivo e apoio para que eu pudesse prosseguir estudando com afinco após a graduação. Aos grandes amigos Fábio Luiz Bernardi, Eduardo Vinícius Bassi Murro, Lucas Sandrini e Gabriel Mattioli pela parceria tanto nos momentos de risadas quanto nos momentos de concentração e troca de conhecimentos ao longo do curso de especialização. À grande amiga Joyce Menezes da Fonseca Tonin por ter contribuído de forma decisiva para a realização desta pesquisa. Ao professor Jackson Ciro Sandrini por preparar excelentes aulas, demonstrando seriedade e comprometimento com a educação, e pelo acolhido quando da escolha pela especialização em Controladoria. À professora Mayla Costa pelo apoio, ajuda intelectual sempre que necessário e por ter acreditado que eu conseguiria conciliar o curso de especialização com o Mestrado em Contabilidade. À professora Márcia Maria dos Santos Bortolocci Espejo pelo posicionamento exemplar como pesquisadora, pela prontidão nos atendimentos solicitados, pelas dicas e palavras amigas. Ao professor Luciano Márcio Scherer pela dedicação no preparo de suas aulas, pelas recomendações profissionais e pelo apoio claro, direto e sincero sempre que precisei.
    [Show full text]
  • Resource Open Letter by Civil Society on BNDES JBS
    TO GLOBAL INVESTORS AND FINANCIAL SERVICE PROVIDERS: CSO OPEN LETTER ON THE RISK OF EXPOSURE TO AMAZON DEFORESTATION IN REPORTED SALE BY THE BRAZILIAN NATIONAL DEVELOPMENT BANK OF SHARES IN JBS AND MARFRIG We, the 50 undersigned organisations, would like to remind the global financial community of its environmental, social and governance (ESG) responsibilities in ensuring their financing and services are not exposed to companies that are linked to the destruction of the Amazon. There is increasing recognition by central banks, stock exchanges, consumers and the public that climate change has become a material issue for the financial system. The Investor statement on deforestation and forest fires in the Amazon (September 2019), from 244 investors representing some $17.2 trillion under managementi calls on firms to protect the Amazon. It emphasizes the fiduciary duty of investors to consider the potential regulatory, legal and market-based risks of firms exposed to deforestation. This serves as a caution to investors and commercial banks not to commit additional financing, investment or advisory services to firms that have shown a long-term inability to address their exposure to the destruction of climate-critical forests. This is particularly the case where they choose to source predominantly from regions with systematic forest-related violence and legal compliance risks. In this context, on December 2nd 2019, Brazilian media outlet Globo reported that the Brazilian National Development Bank (BNDES) intends to sell some of the shares it holds in the global beef giants JBSii and Marfrigiii - both with long track records of exposure to Amazon deforestation.iv We outline below the risks posed to investors and financial services institutions intending to participate in any such secondary share issuances: 1.
    [Show full text]
  • Prospecto Definitivo De Distribuição Pública Primária De Ações Ordinárias De Emissão Da
    PROSPECTO DEFINITIVO DE DISTRIBUIÇÃO PÚBLICA PRIMÁRIA DE AÇÕES ORDINÁRIAS DE EMISSÃO DA Marfrig Alimentos S.A. Companhia Aberta de Capital Autorizado - CVM nº 20788 CNPJ nº 03.853.896/0001-40 – NIRE nº 35.300.341.031 Avenida Chedid Jafet nº 222, Bloco A, 1º andar, Vila Olímpia,, Cidade de São Paulo Estado de São Paulo, Brasil. CEP 04551-065. Código ISIN das Ações: BRMRFGACNORO Código de negociação na BM&FBOVESPA: MRFG3 Registro da Oferta na CVM: CVM/SRE/REM/2012/010, obtido em 5 de dezembro de 2012 Valor da Distribuição: R$924.000.000,00 Preço por Ação: R$8,00 A Marfrig Alimentos S.A. (“Companhia”) está realizando uma oferta pública de distribuição primária de, inicialmente, 105.000.000(cento e cinco milhões) de ações ordinárias de sua emissão, todas nominativas, escriturais, sem valor nominal, livres e desembaraçadas de quaisquer ônus ou gravames (“Ações”), a ser realizada no Brasil, em mercado de balcão não-organizado, a ser realizada simultaneamente no Brasil e no exterior, nos termos da Instrução da CVM nº 400, de 29 de dezembro de 2003, conforme alterada (“Instrução CVM 400”), sob coordenação do Bank of America Merrill Lynch Banco Múltiplo S.A. (“BofA Merrill Lynch”), do Banco Bradesco BBI S.A. (“Bradesco BBI”), do Banco Itaú BBA S.A. (“Itaú BBA” ou “Coordenador Líder” e, em conjunto com o BofA Merrill Lynch e o Bradesco BBI, os “Coordenadores Globais”), do BB-Banco de Investimento S.A. (“BB Investimentos”), o DEUTSCHE BANK S.A. – BANCO ALEMÃO (“Deutsche Bank”) e o BANCO SANTANDER (BRASIL) S.A.
    [Show full text]