INSUBCONTINENT EXCLUSIVE:
allowed it to weather volatility in key markets
Trade Protection in Brazil
(Photo Internet reproduction)This performance has reduced potential liquidity risks in difficult operating environments
reported debt by 0.9 times
annual cash flow sufficiently covers non-discretionary expenses.These include maintenance capital expenditures of about R$800 million ($143
million) and net interest payments of roughly R$200 million ($35 million)
capital expenditure is projected between R$1.4 billion ($250 million) and R$1.9 billion ($340 million).This financial prudence supports
conservative approach to leverage and liquidity
