Net Sales

3,328,747

4,008,431

Cost of Sales

1,410,343

2,450,368

3,015,992

Gross Profit

Operating Expenses:

General and Administrative

96,261

116,714

132,287

154,967

Exploration and Geological

31,679

48,508

62,656

87,238

Depreciation, Amortization and Depletion

100,765

106,153

120,564

154,470

228,705

271,375

315,507

396,675

Operating Profit

Integral Result of Financing:

Net Interest Expense (Income)

28,063

27,461

39,510

40,240

Foreign Exchange (Gain) Loss, net

2,547

(5,306)

1,942

988

(Gain) Loss from Monetary Position, net

(14,231)

(9,382)

(25,468)

(26,056)

16,379

12,773

15,984

15,172

Other (Income) Expense, net

29,110

(38,267)

(68,159)

15,353

Provisions for:

Income and Assets Tax

17,437

78,917

177,244

150,038

Employee Profit Sharing

17,660

42,167

47,631

25,815

96,577

219,411

197,669

Equity in Profit of Associates

5,810

(5,488)

6,806

(12,680)

Consolidated Net Profit

Profit of Minority Shareholders

4,530

19,152

20,148

33,765

Majority Net Profit