CSAN FY 2010 Earnings Report — Cosan S.A. Revenue & Financial Results | Market Cap Arena

FY 2010 Earnings

Reported March 31, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$3.6B	—	$1.7B	—	118.1%
Op. Income	$264M	—	$95M	—	179.1%
Gross Margin	16.1%	—	12.8%	—	3.3pp
Net Margin	4.3%	—	5.9%	—	-1.6pp
EPS (Diluted)	$0.19	—	$0.27	—	-29.4%
Free Cash Flow	$9M	—	-$60M	—	115.2%

Revenue Flow

Item	Amount
REVENUE	$3.6B
Cost of Revenue	$3.1B
GROSS PROFIT	$587M
R&D Expenses	$0
Selling & Marketing	$207M
General & Administrative	$109M
SG&A Expenses	$316M
Other Expenses	$7M
Operating Expenses	$323M
Cost & Expenses	$3.4B
OPERATING INCOME	$264M
Interest Income	$31M
Interest Expense	$61M
Other Income/Expenses	-$24M
INCOME BEFORE TAX	$240M
Income Tax Expense	$84M
Net Income from Continuing Ops	$156M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$155M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$155M
D&A	$150M
EBIT	$271M
EBITDA	$414M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$3.6B
Cost of Revenue	$3.1B
GROSS PROFIT	$587M
R&D Expenses	$0
Selling & Marketing	$207M
General & Administrative	$109M
SG&A Expenses	$316M
Other Expenses	$7M
Operating Expenses	$323M
Cost & Expenses	$3.4B
OPERATING INCOME	$264M
Interest Income	$31M
Interest Expense	$61M
Other Income/Expenses	-$24M
INCOME BEFORE TAX	$240M
Income Tax Expense	$84M
Net Income from Continuing Ops	$156M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$155M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$155M
D&A	$150M
EBIT	$271M
EBITDA	$414M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$155M
Depreciation & Amortization	$150M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$157M
Change in Working Capital	$8M
OPERATING CASH FLOW	$471M
Capital Expenditure	-$462M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$172M
NET CASH FROM INVESTING	-$634M
Net Debt Issuance	$151M
Common Stock Repurchased	-$3M
Common Dividends Paid	-$39M
Other Financing Activities	$88M
NET CASH FROM FINANCING	$198M
FREE CASH FLOW	$9M
Net Change in Cash	$35M

Balance Sheet

Item	Amount
Cash & Equivalents	$253M
Short-Term Investments	$0
Net Receivables	$123M
Inventory	$135M
Other Current Assets	$141M
TOTAL CURRENT ASSETS	$698M
PP&E (Net)	$1.6B
Goodwill	$0
Intangible Assets	$123M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$777M
TOTAL NON-CURRENT ASSETS	$3.1B
TOTAL ASSETS	$3.8B
Account Payables	$113M
Short-Term Debt	$185M
Deferred Revenue	$0
Other Current Liabilities	$111M
TOTAL CURRENT LIABILITIES	$495M
Long-Term Debt	$1.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$650M
TOTAL NON-CURRENT LIABILITIES	$1.9B
TOTAL LIABILITIES	$2.4B
Common Stock	$945M
Additional Paid-In Capital	$0
Retained Earnings	$108M
Treasury Stock	-$4M
Accum. Other Comp. Income	$0
Other Equity	$252M
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$66M
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$3.8B
Total Debt	$1.4B
Net Debt	$1.2B