Patrimonio: el patrimonio aumenta consecutivamente en mayor proporción que el pasivo, por tanto, la empresa modifica patrimonio por pasivo.
Estado de Resultados
|
PROMIGAS |
|||
|
ESTADO DE RESULTADOS |
|||
|
(Valores en miles de pesos) |
|||
|
|
|
|
|
|
2009 |
2010 |
2011 |
|
|
|
|
|
|
| Ventas (Ingresos operativos) |
1.344.593.381 |
1.483.026.920 |
1.452.678.543 |
|
|
|
|
|
| Costo de ventas |
886.587.310 |
996.998.895 |
945.645.897 |
|
|
|
|
|
| UTILIDAD BRUTA |
458.006.071 |
486.028.025 |
507.032.646 |
|
|
|
|
|
| Gastos de administración |
163.053.679 |
196.346.253 |
175.896.542 |
| Gastos de ventas |
0 |
0 |
0 |
|
|
|
|
|
| UTILIDAD OPERATIVA (U.A.I.I) |
294.952.392 |
289.681.772 |
331.136.104 |
|
|
|
|
|
| Ingresos financieros |
92.606.424 |
70.111.502 |
75.455.930 |
| Otros ingresos no operativos |
0 |
0 |
0 |
| Gastos financieros |
129.589.763 |
109.395.583 |
145.876.296 |
| Otros egresos no operativos |
2.013.635 |
55.585.536 |
67.945.897 |
|
|
|
|
|
| UTILIDAD ANTES DE IMPUESTOS (U.A.I) |
255.955.418 |
194.812.155 |
192.769.841 |
|
|
|
|
|
| Provisión impuesto de renta |
67.047.106 |
68.319.956 |
67.567.328 |
|
|
|
|
|
| UTILIDAD NETA |
188.908.312 |
126.492.199 |
125.202.513 |
Se aprecia una disminución de la utilidad neta del 2010 con respecto al 2009 como consecuencia de unos mayores costos operativos y gastos de administración, además de la disminución considerable de los ingresos financieros,
El año 2011 hay una ligera disminución de 126.492.199 (año 2010) a 125.202.513 (año 2011), lo que puede interpretarse como el fin del ajuste que experimenta la empresa como consecuencia de la crisis económica global.
3. ANÁLISIS HORIZONTAL Y VERTICAL Y SU INTEPRETACIÓN
Balance General
Análisis vertical.
| ACTIVOS |
2009 |
2010 |
2011 |
|
|
|
|
|
| Disponible |
13,5% |
13,1% |
12,3% |
| Inversiones |
28,0% |
16,6% |
5,0% |
| Deudores (cartera) |
50,4% |
65,7% |
80,0% |
| Inventarios |
6,7% |
1,4% |
0,5% |
| Diferidos |
0,0% |
0,0% |
0,0% |
| Otros activos corrientes |
1,5% |
3,3% |
2,3% |
|
|
|
|
|
| TOTAL ACTIVO CORRIENTE |
20,5% |
4,8% |
6,9% |
|
|
|
|
|
| Propiedad planta y equipo |
39,9% |
15,1% |
14,5% |
| Intangibles |
0,0% |
0,0% |
0,0% |
| Inversiones permanentes |
3,1% |
39,6% |
44,0% |
| Valorizaciones |
32,4% |
24,6% |
28,4% |
|
|
|
|
|
| TOTAL ACTIVO NO CORRIENTE |
79,5% |
95,2% |
93,1% |
|
|
|
|
|
| TOTAL ACTIVOS |
|
|
|
|
|
|
|
|
| PASIVOS |
|
|
|
|
|
|
|
|
| Obligaciones financieras corto plazo |
13,0% |
33,5% |
22,7% |
| Proveedores |
0,0% |
0,0% |
0,0% |
| Cuentas y gastos por pagar |
75,0% |
61,0% |
71,3% |
| Impuestos, gravámenes y tasas |
0,0% |
0,0% |
0,0% |
| Obligaciones laborales |
4,5% |
2,3% |
2,7% |
| Otros pasivos corto plazo |
7,5% |
3,2% |
3,3% |
|
|
|
|
|
| TOTAL PASIVO CORRIENTE |
17,5% |
28,7% |
23,2% |
|
|
|
|
|
| Obligaciones financieras largo plazo |
22,5% |
22,7% |
44,2% |
| Bonos y papeles comerciales por pagar |
57,7% |
69,0% |
48,7% |
| Obligaciones laborales largo plazo |
0,0% |
0,0% |
0,0% |
| Pasivos estimados y provisiones |
0,3% |
0,6% |
0,7% |
| Otros pasivos largo plazo |
19,5% |
7,7% |
6,4% |
|
|
|
|
|
| TOTAL PASIVO LARGO PLAZO |
82,5% |
71,3% |
76,8% |
|
|
|
|
|
| TOTAL PASIVO |
61,3% |
46,2% |
45,3% |
|
|
|
|
|
| Capital social |
1,2% |
1,1% |
1,0% |
| Superávit de capital |
0,0% |
11,9% |
13,5% |
| Reservas |
12,2% |
12,4% |
13,5% |
| Revalorización del patrimonio |
9,2% |
8,5% |
7,1% |
| Resultados del ejercicio |
0,0% |
22,4% |
14,3% |
| Resultado de ejercicios anteriores |
18,1% |
0,0% |
1,9% |
| Superávit por valorización |
59,1% |
43,4% |
48,4% |
| Otras cuentas de patrimonio |
0,3% |
0,3% |
0,3% |
|
|
|
|
|
| TOTAL PATRIMONIO |
38,7% |
53,8% |
54,7% |
Activos:
- Disponible: se mantiene estable en los tres periodos analizados.
- Inversiones: la empresa experimenta un descenso de las inversiones, de este modo, está inyectando liquidez a la compañía para reforzar sus cuentas. La compañía debe aumentar su inversión para genera ingresos financieros.
- Deudores: la compañía tiene un nivel de deudores muy elevado, creciendo en todos los periodos, para el año 2011 supone el 80% de los activos de la empresa. Ha de ser una prioridad para la empresa gestionar la cartera existente.
- Inventarios: se observa una disminución de los inventarios, manteniéndose en términos generales estables.
- Propiedad, planta y equipo: la empresa disminuye de forma significativa esta cuenta, puede deberse a la necesidad de obtener liquidez por el alto porcentaje de cartera sin cobrar.
- Inversiones permanentes: la empresa aumenta significativamente esta cuenta, pasando en el año 2009 del 3.1
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