INCOME STATEMENT

Investments ensure positive result

Although very influenced by the variation of the investments in Variable Income, the result is derived from the good performance of all segments in which resources are invested. All of them exceeded the actuarial index (INPC + 6%a.a.), which remained in 9%. Thus, even with alteration of PREVI Part (PP) and reduction of normal contributions of Plan 1 in 40%, fiscal year result was a surplus. These alterations directly affect the cash flow, since they are related to resources input and output. That means that the contributions reduction diminishes resource input. On the other hand, output is increased with PP reduction, as it increases the value of granted benefits.