Professional Documents
Culture Documents
BALANCE
Activos
Activos corrientes
Efectivo y equivalentes al efectivo
Otros activos financieros
corrientes
no financieros
corrientes
2010
2009
62,422
10,993
76,812
2,824
13,625
882,585
837,276
53,658
1,089,615
184,017
57,009
1,060,353
183,510
2,283,290
2,231,409
23
23
2,283,313
2,231,409
81,341
82,266
12,779
24,905
5,552
25,965
11,942
12,964
183,727
128,270
3,084
2,634,479
2,061
495,757
3,450,075
5,733,388
2,598,236
2,066
473,024
3,328,343
5,559,752
647,877
611,399
1,126,828
1,378,646
17,664
13,346
82,529
27,624
57,603
32,500
72,833
42,123
382
1,338
2,151,233
1,961,459
2,151,233
2,818,588
5,850
2,433,572
3,744
79,444
294,710
78,504
286,175
114,771
160,464
2,114
3,315,477
5,276,936
2,220
2,964,679
5,115,912
1,232,332
-651,972
-
1,182,700
-680,044
-
Otras participaciones en el
patrimonio
Otras reservas
Patrimonio atribuible a los
propietarios de la controladora
Participaciones no controladoras
Patrimonio total
Total de patrimonio y pasivos
-135,986
-96,434
444,374
12,078
456,452
5,733,388
406,222
37,618
443,840
5,559,752
Estado de
resultados
2010
2009
Ganancia (prdida)
Ingresos de actividades ordinarias
Costo de ventas
Ganancia bruta
8,179,889
7,933,844
246,045
7,097,503
6,834,843
262,660
32,543
-
79,712
-
104,226
47,062
34,029
3,639
181,131
81,990
100,211
7,722
3,013
172,438
22,625
48,826
72,688
51,575
-
55,288
-14,844
122,731
-31,901
70,132
154,632
45,751
Ganancia (prdida)
Ganancia (prdida), atribuible a
70,132
200,383
61,394
195,923
8,738
70,132
4,460
200,383
ENAP
ESTADOS FINANCIEROS BAJO NORMAS CONTABLES CHILENAS ( CL GAAP)
(Cifras en miles de dolares)
BALANCE
ACTIVOS
Cdigo
5.11.00.00
5.11.10.10
5.11.10.20
5.11.10.30
5.11.10.40
5.11.10.50
5.11.10.60
5.11.10.70
5.11.10.80
5.11.10.90
5.11.20.10
5.11.20.20
5.11.20.30
5.11.20.40
5.11.20.50
5.12.00.00
5.12.10.00
5.12.20.00
5.12.30.00
5.12.40.00
5.12.50.00
5.12.60.00
5.13.00.00
5.13.10.10
5.13.10.20
5.13.10.30
5.13.10.40
5.13.10.50
5.13.10.60
5.13.10.65
5.13.10.70
5.13.10.80
5.13.10.90
5.13.20.10
5.10.00.00
Descripcin
Total Activos Circulantes
Disponible
Depsitos a plazo
Valores negociables (neto)
Deudores por venta (neto)
Documentos por cobrar (neto)
Deudores varios (neto)
Documentos y cuentas por cobrar empresas relacionadas
Existencias (neto)
Impuestos por recuperar
Gastos pagados por anticipado
Impuestos diferidos
Otros activos circulantes
Contratos de leasing (neto)
Activos para leasing (neto)
Total Activos Fijos
Terrenos
Construccin y obras de infraestructura
Maquinarias y equipos
Otros activos fijos
Mayor valor por retasacin tcnica del activo fijo
Depreciacin (menos)
Total Otros Activos
Inversiones en empresas relacionadas
Inversiones en otras sociedades
Menor valor de inversiones
Mayor valor de inversiones (menos)
Deudores a largo plazo
Documentos y cuentas por cobrar empresas relacionadas largo plazo
Impuestos diferidos a largo plazo
Intangibles
Amortizacin (menos)
Otros
Contratos de leasing largo plazo (neto)
Total Activos
PASIVOS
Cdigo
Descripcin
5.21.00.00
5.21.10.10
5.21.10.20
5.21.10.30
5.21.10.40
5.21.10.50
5.21.10.60
5.21.10.70
5.21.10.80
5.21.10.90
5.21.20.10
5.21.20.20
5.21.20.30
5.21.20.40
5.21.20.50
5.21.20.60
5.21.20.70
5.22.00.00
5.22.10.00
5.22.20.00
5.22.30.00
5.22.40.00
5.22.50.00
5.22.60.00
5.22.70.00
5.22.80.00
5.23.00.00
5.24.00.00
5.24.10.00
5.24.20.00
5.24.30.00
5.24.40.00
5.24.50.00
5.24.51.00
5.24.52.00
5.24.53.00
5.24.54.00
5.24.55.00
5.24.56.00
5.20.00.00
RESULTADOS
Cdigo
Descripcion
5.31.11.00
5.31.11.10
5.31.11.11
5.31.11.12
5.31.11.20
5.31.12.00
5.31.12.10
5.31.12.20
5.31.12.30
5.31.12.40
5.31.12.50
5.31.12.60
5.31.12.70
5.31.12.80
5.31.12.90
5.31.10.00
5.31.20.00
5.31.30.00
5.31.40.00
5.31.50.00
5.31.00.00
5.32.00.00
5.30.00.00
Resultado De Explotacion
Margen De Explotacion
Ingresos de explotacin
Costos de explotacin (menos)
Gastos de administracin y ventas (menos)
Resultado Fuera De Explotacion
Ingresos financieros
Utilidad inversiones empresas relacionadas
Otros ingresos fuera de la explotacin
Prdida inversin empresas relacionadas (menos)
Amortizacin menor valor de inversiones (menos)
Gastos financieros (menos)
Otros egresos fuera de la explotacin (menos)
Correccin monetaria
Diferencias de cambio
Resultado Antes De Impuesto A La Renta E Itemes Extraordinarios
Impuesto A La Renta
Itemes Extraordinarios
Utilidad (Perdida) Antes De Interes Minoritario
Interes Minoritario
Utilidad (Perdida) Liquida
Amortizacin mayor valor de inversiones
Utilidad (Perdida) Del Ejercicio
CL GAAP)
2008
2,270,673
81,836
7,913
0
712,866
0
82,374
47,297
853,866
232,323
17,749
82,293
152,156
0
0
2,270,493
21,042
4,493,873
75,758
827,560
0
-3,147,740
330,910
146,724
61,448
2,670
0
21,012
11,465
26,816
0
0
60,775
0
4,872,076
2007
3,307,355
96,979
18,858
17,119
977,073
0
99,888
101,806
1,588,573
306,519
22,369
0
78,171
0
0
1,805,426
16,154
4,314,586
70,666
406,903
0
-3,002,883
327,700
103,093
61,450
4,582
0
27,250
14,655
16,581
0
0
100,089
0
5,440,481
2006
2005
1,875,640
54,702
14,333
16,915
667,487 588,168
0
58,956
49,673
20,416
10,768
860,859 874,616
111,494
20,572
9,366
40,540
0
0
1,666,590 1,628,558
16,902
4,064,080
60,646
362,343
0
-2,837,381
262,775
84,495
61,449
3,462
0
23,893
11,518
15,950
0
0
62,008
0
3,805,005
2008
2,776,681
644,613
2007
2006
2,852,944 1,325,472
40,529
0
2,382
25,559
27,012
0
0
0
5,866
6,083
5,757
1,363
1,530
1,279
0
0
0
1,514,604 2,470,211
988,926
304,978
145,221
51,289
23,273
6,541
15,848
20,571
17,677
14,094
124,138
58,316
43,816
86,028
43,259
58,274
0
0
90,801
71
71
150
0
4,973
0
48,794
32,974
28,226
1,834,251 1,597,700 1,540,396
370,000
370,000
391,000
549,546
568,346
551,935
3,229
3,445
3,662
14,095
17,855
16,427
615,657
197,702
212,027
197,126
360,376
321,952
0
0
0
84,598
79,976
43,393
-166
264
254
261,310
989,573
938,883
1,182,700
932,700
876,701
0
0
0
0
0
0
-50,329
-68,109
-69,167
-871,061
124,982
131,349
0
0
0
86,730
75,350
80,550
0
0
0
-957,791
49,632
50,799
0
0
0
0
0
0
4,872,076 5,440,481 3,805,005
2005
2008
2007
2006
-937,142
199,474
242,800
-832,268
290,720
326,756
12,185,212 9,019,315 7,823,837
-13,017,480 -8,728,595 -7,497,081
-104,874
-91,246
-83,956
-244,032
-62,070
-80,126
70,694
8,881
5,586
17,666
14,484
14,382
48,035
74,733
36,407
-12,176
-9,091
-4,353
-1,912
-1,154
-1,357
-211,013 -145,247
-108,066
-26,929
-7,667
-14,032
0
0
0
-128,397
2,991
-8,693
-1,181,174
137,404
162,674
222,945
-87,764 -111,904
0
0
0
-958,229
49,640
50,770
438
-8
29
-957,791
49,632
50,799
0
0
0
-957,791
49,632
50,799
ASSETS
Current assets:
Cash and temporary cash investments
Restricted cash
Receivables, net
Inventories
Income taxes receivable
Deferred income taxes
Prepaid expenses and other
Assets held for sale
Total current assets
Property, plant and equipment, at cost
Accumulated depreciation
Property, plant and equipment, net
Intangible assets, net
Goodwill
Investment in Valero L.P.
Deferred charges and other assets, net
Long-term assets held for sale
Total assets
LIABILITIES AND STOCKHOLDERS EQUITY
Current liabilities:
Current portion of debt and capital lease
obligations
Accounts payable
Accrued expenses
Taxes other than income taxes
Income taxes payable
Deferred income taxes
Liabilities related to assets held for SALE
2010
2009
2008
$3,334
$825
4,583
4,947
343
190
121
3,779
4,578
887
180
384
289
$940
131
2,897
4,637
197
98
550
13,518
10,922
9,450
28,921
(6,252)
26,885
(5,270)
28,103
(4,890)
22,669
21,615
23,213
224
227
224
1,210
1,530
$37,621
1,347
1461
$35,572
$34,417
$822
$237
$312
6,441
590
671
3
257
5,825
641
725
95
253
33
4,446
374
592
8,784
7,809
6,209
485
7,515
7,163
4,530
4,006
4,163
1,767
1,869
2,161
0
0
0
0
7,704
(6,462)
7,896
(6,721)
6,264
7,190
(6,884)
13,388
388
13,178
365
15,484
(176)
15,025
14,725
15,620
$37,621
$35,572
$34,417
2010
2009
2008
Income Statement
$82,233
$64,599 $119,114
$74,458
$2,944
$654
$363
$531
$1,405
$2
$58,686
$2,880
$626
$169
$572
$1,361
$222
107,429
4,555
768
559
1,476
(305)
4,069
$80,357
$64,516
118,551
Operating income
Equity in earnings of NuStar Energy L.P.
Other income, net
Interest and debt expense:
Incurred
Capitalized
Minority interest in net income of NuStar
GP Holdings, LLC
$1,876
$83
563
$106
$17
113
($574)
$90
($521)
$105
(451)
111
$1,498
$575
($316)
($43)
336
$923
($599)
$0
($273)
($1,709)
$0
(1,131)
$324
($1,982)
(1,131)
1,467
($1,131)
$2
($01)
($01)
($03)
($2.16)
$1
($04)
($2.16)
$563
$0
$541
$0
524
$0
$2
($01)
$0
($01)
($03)
($2.16)
$1
($04)
($2.16)
$568
$0
$0
$0
$541
$0
$0
$1
524
$0.57
2007
2006
$2,464
31
7,691
4,073
1590
31
4389
4430
32
143
145
247
175
306
14,987
10760
25,599
(4,039)
24377
-3279
21,560
21098
290
4,019
303
4211
1,866
1381
$42,722
37753
$392
476
0
6864
510
586
23
363
9,587
500
632
499
293
11
11,914
8822
2005
3,564
4,039
17,856
6,470
4576
81
0
4,021
4047
1,810
1622
16,914
573
0
0
6
0
0
7779
-1396
0
11951
265
18,507
18605
$42,722
37753
2007
2006
$95,327
87640
81,645
4,016
750
73,863
3,622
719
638
1,360
598
1,116
7,111
(6,097)
88,409
79,918
6,918
7,722
45
350
167
(466)
107
(377)
165
(7)
6,726
7,898
2,161
2,611
4,565
669
5,287
176
5,234
5,463
2
$5,234
$5,461
$8.08
1.19
$8.65
0.29
$9.27
$8.94
565
611
$7.72
1.16
$8.36
0.28
$8.88
$8.64
579
632
$0.48
$0.30
2010
2009
ASSETS
CURRENT ASSETS
Cash and cash equivalents
Receivables, less allowance for doubtful
accounts
Inventories
Prepayments and other
$648
908
$413
1,116
1,257
115
622
72
2,928
2,223
5,984
659
204
5,789
647
213
6,847
(1,677)
6,649
(1,459)
5,170
5,190
246
388
255
402
634
657
Total Assets
$8,732
$8,070
$1,852
492
152
$1,441
444
4
2,496
1,889
616
562
1,843
505
752
1,837
EQUITY
Common stock, par value $0.16 2 / 3 ;
200,000,000 shares; 145,755,260 shares
issued (144,505,356 in 2007)
Additional paid-in capital
Retained earnings
Treasury stock, 7,380,182 common shares
(7,460,518 in 2007), at cost
Accumulated other comprehensive loss
authorized
Income Statement
REVENUES(a)
COSTS AND EXPENSES:
Costs of sales and operating expenses(a)
Operating expenses
Selling, general and administrative expenses
Depreciation and amortization
Loss on asset disposals and impairments
OPERATING INCOME
Interest and financing costs
Interest income
Foreign currency exchange gain (loss)
Other income
EARNINGS BEFORE INCOME TAXES
Income tax provision
NET EARNINGS
NET EARNINGS PER SHARE:
Basic
Diluted
WEIGHTED AVERAGE COMMON SHARES:
Basic
Diluted
DIVIDENDS PER SHARE
SUPPLEMENTAL INFORMATION:
25
24
970
2,398
(128)
947
2,427
(140)
(50)
(171)
3,215
3,087
$8,732
$8,070
2010
2009
$20,583
$16,872
18,251
1,474
242
422
54
14,739
1,469
221
426
74
140
(157)
3
2
(13)
(57)
(130)
4
(5)
(25)
4
(188)
(48)
($29)
($140)
($0.21)
($0.21)
($1.01)
($1.01)
140.60
140.60
$0.00
138.20
138.20
$0.35
$330
$283
2008
2007
2006
2005
$20
738
$23
1,243
$986
861
718
787
101
1,200
134
872
92
1,646
2,600
2,811
5,468
599
198
5,021
642
193
3,207
210
144
6,265
(1,184)
5,856
(1,076)
3,561
(874)
5,081
4,780
2,687
89
269
348
92
290
366
89
112
205
706
748
406
$7,433
$8,128
$5,904
$1,027
412
2
$2,004
488
2
$1,270
385
17
1,441
2,494
1,672
416
749
1,609
388
537
1,657
377
324
1,029
953
2,467
24
24
12
916
2,616
(147)
876
2,393
(151)
841
1,876
(159)
(191)
(90)
(68)
3,218
3,052
2,502
$7,433
$8,128
$5,904
2008
2007
2006
$28,416
$21,915
$18,104
25,546
1,631
325
401
42
20,308
16,314
263
357
20
176
247
50
471
(111)
7
12
50
967
(91)
33
(4)
1,317
(77)
41
429
151
905
339
1,286
485
$278
$566
$801
$2.03
$2.00
$4.17
$4.06
$5.89
$5.73
136.80
139.20
$0.40
135.70
139.50
$0.35
136.00
139.80
$0.20
$278
$240
$102
ANALISIS DUPONT
ENAP
2010
ROA
2009
2.474%
3.250%
Margen Operacional
Utilidad Operacional
Ventas
1.73%
141,819
8,179,889
2.55%
180,670
7,097,503
Margen Bruto
Utilidad Bruta
Ventas
3.008%
246,045
8,179,889
3.701%
262,660
7,097,503
0.0127
104,226
8,179,889
0.0116
81,990
7,097,503
1.43
8,179,889
5,733,388
1.28
7,097,503
5,559,752
8.94
40.84
8,179,889
915,264
8.17
44.66
7,097,503
868,411
Rotacion de Inventarios
Dias
Costo de Ventas
Inventario Promedio
7.380
49.46
7,933,844
1,074,984
7.141
51.11
6,834,843
957,110
3.13
116.75
8,179,889
2,616,358
2.92
125.19
7,097,503
2,434,365
Rotacin de Activos
Ventas
Activo Total
VALERO
ROA
Margen Operacional
Utilidad Operacional
2010
2009
5.957%
1.333%
2.73%
2,241
0.73%
474
Ventas
82,233
64,599
Margen Bruto
Utilidad Bruta
Ventas
4.166%
3,426
82,233
2.588%
1,672
64,599
0.0144
1,185
82,233
0.0185
1,198
64,599
2.19
82,233
37,621
1.82
64,599
35,572
19.67
18.56
82,233
4,181
19.35
18.86
64,599
3,338
Rotacion de Inventarios
Dias
Costo de Ventas
Inventario Promedio
15.634
23.35
74,458
4,763
12.737
28.66
58,686
4,608
3.71
98.28
82,233
22,142
2.88
126.64
64,599
22,414
Rotacin de Activos
Ventas
Activo Total
TESORO
ROA
2010
2009
2.222%
0.211%
0.94%
194
20,583
0.10%
17
16,872
Margen Bruto
Utilidad Bruta
Ventas
2.118%
436
20,583
1.411%
238
16,872
0.0118
242
20,583
0.0131
221
16,872
Margen Operacional
Utilidad Operacional
Ventas
Rotacin de Activos
Ventas
Activo Total
2.36
20,583
8,732
2.09
16,872
8,070
20.34
17.95
20,583
1,012
18.20
20.05
16,872
927
Rotacion de Inventarios
Dias
Costo de Ventas
Inventario Promedio
19.875
18.36
18,673
940
21.526
16.96
15,165
705
3.97
91.86
20,583
5,180
3.29
111.10
16,872
5,136
2008
2007
2006
-19.235%
3.666%
6.381%
-7.69%
-937,142
12,185,212
2.21%
199,474
9,019,315
3.10%
242,800
7,823,837
-6.830%
-832,268
12,185,212
3.223%
290,720
9,019,315
4.176%
326,756
7,823,837
0.0086
104,874
12,185,212
0.0101
91,246
9,019,315
0.0107
83,956
7,823,837
2.50
12,185,212
4,872,076
1.66
9,019,315
5,440,481
2.06
7,823,837
3,805,005
12.06
30.27
12,185,212
1,010,652
9.37
38.96
9,019,315
962,813
11.21
32.55
7,823,837
697,734
10.659
34.24
13,017,480
1,221,220
7.127
51.21
8,728,595
1,224,716
8.640
42.25
7,497,081
867,738
5.98
61.05
12,185,212
2,037,960
5.20
70.25
9,019,315
1,736,008
4.75
76.86
7,823,837
1,647,574
2008
2007
2006
12.572%
16.193%
20.454%
3.63%
4,327
7.26%
6,918
8.81%
7,722
119,114
95,327
87,640
4.747%
5,654
119,114
8.713%
8,306
95,327
10.314%
9,039
87,640
0.0111
1,327
119,114
0.0146
1,388
95,327
0.0150
1,317
87,640
3.46
119,114
34,417
2.23
95,327
42,722
2.32
87,640
37,753
22.50
16.22
119,114
5,294
15.78
23.13
95,327
6,040
22.04
16.56
87,640
3,977
24.668
14.80
107,429
4,355
19.204
19.01
81,645
4,252
17.443
20.93
73,863
4,235
5.32
68.60
119,114
22,387
4.47
81.67
95,327
21,329
4.50
81.12
87,640
19,477
2008
2007
2006
6.902%
12.143%
23.154%
1.81%
513
28,416
4.50%
987
21,915
7.55%
1,367
18,104
2.949%
838
28,416
5.704%
1,250
21,915
8.523%
1,543
18,104
0.0114
325
28,416
0.0120
263
21,915
0.0097
176
18,104
3.82
28,416
7,433
2.70
21,915
8,128
3.07
18,104
5,904
28.69
12.72
28,416
991
20.83
17.52
21,915
1,052
22.93
15.92
18,104
790
26.117
13.98
25,947
994
19.947
18.30
20,665
1,036
18.149
20.11
16,561
913
5.76
63.33
28,416
4,931
5.87
62.18
21,915
3,734
7.03
51.96
18,104
2,577
30.00%
1)
ROA
Empresa
ENAP
VALERO
TESORO
20.00%
2010
2009
2.47%
5.96%
2.22%
3.25%
1.33%
0.21%
2008
2007
2006
-19.23%
3.67%
6.38%
12.57%
16.19%
20.45%
6.90%
12.14%
23.15%
10.00%
0.00%
2010
2009
-10.00%
-20.00%
-30.00%
2)
Margen Operacional
Empresa
ENAP
VALERO
TESORO
2010
1.73%
2.73%
0.94%
10.00%
2009
2.55%
0.73%
0.10%
2008
-7.69%
3.63%
1.81%
2007
2.21%
7.26%
4.50%
2006
3.10%
8.81%
7.55%
8.00%
6.00%
4.00%
2.00%
0.00%
2010
-2.00%
2009
-4.00%
-6.00%
-8.00%
-10.00%
3)
Margen Bruto
Empresa
ENAP
VALERO
TESORO
10.00%
2010
3.01%
4.17%
2.12%
2009
3.70%
2.59%
1.41%
2008
-6.83%
4.75%
2.95%
2007
3.22%
8.71%
5.70%
2006
4.18%
10.31%
8.52%
8.00%
6.00%
4.00%
2.00%
0.00%
2010
-2.00%
-4.00%
-6.00%
-8.00%
2009
0.00%
2010
-2.00%
2009
-4.00%
-6.00%
-8.00%
-10.00%
4)
Empresa
ENAP
VALERO
TESORO
2010
1.27%
1.44%
1.18%
2009
1.16%
1.85%
1.31%
2008
0.86%
1.11%
1.14%
2007
1.01%
1.46%
1.20%
2.00%
2006
1.07%
1.50%
0.97%
1.80%
1.60%
1.40%
1.20%
1.00%
0.80%
0.60%
0.40%
0.20%
0.00%
2010
5)
2009
Rotacin de Activos
Empresa
ENAP
VALERO
TESORO
2010
1.43
2.19
2.36
2009
1.28
1.82
2.09
2008
2.50
3.46
3.82
2007
1.66
2.23
2.70
2006
2.06
2.32
3.07
4.50
4.00
3.50
3.00
2.50
2.00
1.50
1.00
0.50
2010
6)
2009
Empresa
ENAP
VALERO
TESORO
2010
40.84
18.56
17.95
2009
44.66
18.86
20.05
2008
30.27
16.22
12.72
2007
38.96
23.13
17.52
2006
32.55
16.56
15.92
50.00
45.00
40.00
35.00
30.00
25.00
20.00
15.00
10.00
5.00
-
7)
2010
2009
2010
2009
Empresa
ENAP
VALERO
TESORO
2010
7.38
23.35
18.36
2009
7.14
28.66
16.96
2008
10.66
14.80
13.98
2007
7.13
19.01
18.30
2006
8.64
20.93
20.11
35.00
30.00
25.00
20.00
15.00
10.00
5.00
-
8)
Empresa
ENAP
VALERO
TESORO
2010
116.75
98.28
91.86
2009
125.19
126.64
111.10
2008
61.05
68.60
63.33
2007
70.25
81.67
62.18
2006
76.86
81.12
51.96
140.00
120.00
100.00
80.00
60.00
40.00
120.00
100.00
80.00
60.00
40.00
20.00
2010
2009
30.00%
20.00%
10.00%
ENAP
0.00%
2010
2009
2008
2007
2006
VALE
RO
-10.00%
-20.00%
-30.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
2010
-2.00%
ENAP
2009
2008
2007
2006
VALE
RO
-4.00%
-6.00%
-8.00%
-10.00%
10.00%
8.00%
6.00%
4.00%
2.00%
0.00%
2010
-2.00%
-4.00%
-6.00%
-8.00%
ENAP
2009
2008
2007
2006
VALE
RO
0.00%
2010
-2.00%
2009
2008
2007
2006
VALE
RO
-4.00%
-6.00%
-8.00%
-10.00%
2.00%
1.80%
1.60%
1.40%
1.20%
ENAP
1.00%
VALE
RO
0.80%
0.60%
0.40%
0.20%
0.00%
2010
2009
2008
2007
2006
ENAP
VALE
RO
2010
2009
2008
2007
2006
ENAP
VALE
RO
0
2010
2009
2008
2007
2006
ENAP
VALE
RO
2010
2009
2008
2007
2006
ENAP
VALE
RO
ENAP
VALE
RO
2010
2009
2008
2007
2006