Financial Highlights

Main Indicators*	2014	2015	2016	2017	2018
Income Statement
Net Sales	38,080	46,720	45,603	47,899	50,231
Gross Profit	25,265	30,659	28,925	29,858	30,962
Selling, General and Administrative Expenses	-10,979	-13,459	-14,177	-14,539	-14,833
EBIT	15,827	18,779	17,157	16,536	17,076
Net Income	12,362	12,879	13,118	7,851	11,377

Balance Sheet
Total Assets	72,143	90,176	83,841	86,852	94,126
Cash, Cash Equivalents and Current Investment Securities ⁽⁴⁾	10,336	13,833	8,160	10,366	11,477
Total Debt	2,623	3,600	5,396	2,553	2,423
Shareholder´s Equity	43,665	50,334	46,634	47,983	57,547

Cash Flow and Profitability
EBITDA	18,276	22,210	19,483	20,148	21,099
EBITDA Margin	48.0%	47.5%	42.7%	42.1%	42.0%
Capital Expenditures	4,493	5,261	4,133	3,204	3,571
Return on Equity ⁽³⁾	28.3%	25.6%	28.1%	16.4%	19.8%

Share Information (R$/Share)
Book Value (*)	2.78	3.21	2.97	3.06	3.66
Earnings per share	0.77	0.79	0.80	0.47	0.70
Dividends and Interest on Equity (ON) – R$/share ⁽¹⁾	0.77	0.73	0.66	0.56	0.56
Dividends paid	100%	92%	83%	119%	80%

Capitalization
Market Capitalization ⁽²⁾	256,895	279,979	257,498	334,314	241,791
Net Debt	-7,713	-10,233	-2,763	-7,813	-9,054
Minority Interest	297	455	537	519	353
Outstanding Shares (million)	15,683	15,696	15,697	15,706	15,721

*Figures are in millions of Reais except where indicated
⁽¹⁾ Earinings / dividends per share are calculated by dividing earnings / dividends by weighed average number of prefered and common shares outstanding.
⁽²⁾ Market capitalization based on share price from the last day of the year
⁽³⁾ Return on Equity = Net Income/Equity
(4) Cash and Cash Equivalents less Bank Overdrafts

The amounts in Reais/share and the number of shares were adjusted to reflect stock splits, reverse splits and bonus shares.