Análise dos efeitos da crise de 2008 no perfil de liquidez e rentabilidade da indústria siderúrgica Gerdau S.A.

Abstract

This study aims to verify the effects of the financial crisis in the Liquidity Profile and Profitability of the company Gerdau S.A. This research is characterized as a case study with a qualitative and quantitative approach concerning the evolution of the economic and financial indicators from 2007 to 2011. Data were collected from Economética and Gerdau's Annual Reports. For the calculation of the indicators were used two important reports: the Balance Sheet and the Income Statement. From the Traditional Model analysis some rates were calculated: Liquidity, Profitability, Debt, Capital Structure, Bank Financing, Activity andI from the Dynamic Model: Needed Working Capital, Working Capital, Cash Balance and the Liquidity Profiles. The most important results of the case are: there was little variation in the rates of General Liquidity; the Profitability rates have declined significantly between the years 2007 to 2011; there was also a reduction in rates of Profitability and relevant increase in the Financial Cycle in 2008; dynamic variables were also affected: in 2008, the Needed Working Capital and also the Working Capital were increased, followed by a reduction of the Cash Balance, which had a more representative drop in 2010. Finally, the study presented almost no change in the company's Liquidity Profile, which remained as the Type 5 in four of the five years that were analyzed.