Quarterly Information Together with
Report of Independent Public Accountants
Abril S.A.
June 30, 1999
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
- --------------------------------------------------------------------------------
THE REGISTRATION WITH CVM DOES NOT IMPLY ANY EVALUATION OF THE COMPANY AND ITS
MANAGERS ARE RESPONSIBLE FOR THE VERACITY OF THE INFORMATION PROVIDED.
- --------------------------------------------------------------------------------
01.01 - IDENTIFICATION
- ------------- --------------------- --------------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- --------------------------------------------------------------------------------
4 - NIRE - REGISTRATION NUMBER
35.3.0013516-4
- --------------------------------------------------------------------------------
01.02 - HEAD OFFICE
- ----------------------------------------------------- --------------------------
1 - FULL ADDRESS 2 - SUBURB OR DISTRICT
Av. Otaviano Alves de Lima, 7.221 Freguesia do O
- ----------------------------------------------------- --------------------------
3 - ZIP CODE 4 - MUNICIPALITY 5 - STATE
05425-902 Sao Paulo SP
- -------------- -------------- --------------- --------------- ------------------
6 - AREA CODE 7 - TELEPHONE 8 - TELEPHONE 9 - TELEPHONE 10 - TELEX
011 3037-2010 - -
- -------------- -------------- --------------- --------------- ------------------
11 - AREA CODE 12 - FAX 13 - FAX 14 - FAX
011 3037-2040 - -
- -------------- -------------- --------------- --------------- ------------------
15 - E-MAIL
- ----------------------------- --------------- --------------- ------------------
01.03 - DIRECTOR OF MARKET RELATIONS (Address for correspondence with Company)
- --------------------------------------------------------------------------------
1 - NAME
Jose Augusto Pinto Moreira
- --------------------------------------------------------------------------------
2 - FULL ADDRESS 3 - SUBURB OR DISTRICT
Av. Nacoes Unidas, 7.221 Pinheiros
- --------------------------------------------------------------------------------
4 - ZIP CODE 5 - MUNICIPALITY 6 - STATE
05425-902 Sao Paulo SP
- --------------------------------------------------------------------------------
7 - AREA CODE 8 - TELEPHONE 9 - TELEPHONE 10 - TELEPHONE 11 - TELEX
011 3037-2010 - -
- -------------- -------------- -------------- ---------------- ------------------
12 - AREA CODE 13 - FAX 14 - FAX 15 - FAX
011 3037-2040 - -
- -------------- -------------- -------------- ---------------- ------------------
16 - E-MAIL
- --------------------------------------------------------------------------------
01.04 - REFERENCE/ INDEPENDENT PUBLIC ACCOUNTANT
- ----------------------------- -------------------------------------------- ------------------------------------------
CURRENT YEAR CURRENT QUARTER PRIOR QUARTER
- ----------------------------- -------------------------------------------- ------------------------------------------
1 - BEGINNING 2 - END 3 - QUARTER 4 - BEGINNING 5 - END 6 - QUARTER 7 - BEGINNING 8 -END
- ----------------- ----------- --------------- ---------------- ----------- --------------- -------------- -----------
1.1.1999 12.31.1999 2 4.1.1999 6.30.1999 1 1.1.1999 3.31.1999
- ----------------- ----------- --------------- ---------------- ----------- --------------- -------------- -----------
9 - NAME OF INDEPENDENT PUBLIC ACCOUNTANT 10 - CVM CODE
Arthur Andersen S/C 00283 - 6
- --------------------------------------------- ----------------------------------
11 - NAME OF RESPONSIBLE ACCOUNTANT 12 CPF - Individual Taxpayers'
Registration
Marco Antonio Brandao Simurro 755.400.708-44
- --------------------------------------------- ----------------------------------
Page 1
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- ------------- ---------------------- -------------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- ------------- ---------------------- -------------------------------------------
01.05 - COMPOSITION OF CAPITAL
- -------------------------- ----------------------- ---------------------------- -------------------------------------
Number of Shares 1 - CURRENT QUARTER 2 - PRIOR QUARTER 3 - SAME QUARTER OF THE PREVIOUS
YEAR
(Thousand) 6.30.1999 3.31.1999 6.30.1998
- -------------------------- ----------------------- ---------------------------- -------------------------------------
Paid-up Capital
- -------------------------- ----------------------- ---------------------------- -------------------------------------
1 - Common 5,302 5,302 8,277
- -------------------------- ----------------------- ---------------------------- -------------------------------------
2 - Preferred 10,604 10,604 11,067
- -------------------------- ----------------------- ---------------------------- -------------------------------------
3 - Total 15,906 15,906 19,344
- ---------------------------------------------------------------------------------------------------------------------
Treasury Stock
- -------------------------- ----------------------- ---------------------------- -------------------------------------
4 - Common 0 0 0
- -------------------------- ----------------------- ---------------------------- -------------------------------------
5 - Preferred 0 0 0
- -------------------------- ----------------------- ---------------------------- -------------------------------------
6 - Total 0 0 0
- -------------------------- ----------------------- ---------------------------- -------------------------------------
01.06 - CHARACTERISTICS OF THE COMPANY
- --------------------------------------------------------------------------------
1 - TYPE OF COMPANY
Commercial, Industrial and Other
- --------------------------------------------------------------------------------
2 - SITUATION
Operational
- --------------------------------------------------------------------------------
3 - NATURE OF CONTROLLING INTEREST
Local Private
- --------------------------------------------------------------------------------
4 - ACTIVITY CODE
1070000 - Publishing and Printing
- --------------------------------------------------------------------------------
5 - MAIN ACTIVITY
Publishing of Magazines and Periodicals
- --------------------------------------------------------------------------------
6 - TYPE OF CONSOLIDATION
Partial
- --------------------------------------------------------------------------------
7 - TYPE OF REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
Unqualified
- --------------------------------------------------------------------------------
01.07 - COMPANIES NOT INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS
- ---------- ----------------------------------------- ---------------------------
1 - ITEM 2 - CNPJ - National Corporate Taxpayers' 3 - REGISTERED NAME
Registration
- ---------- ----------------------------------------- ---------------------------
- ---------- ----------------------------------------- ---------------------------
01 00.497.373/0001-10 Galaxy Brasil Ltda.
- ---------- ----------------------------------------- ---------------------------
- ---------- ----------------------------------------- ---------------------------
02 01.785.998/0001-40 TVA Banda C Ltda.
- ---------- ----------------------------------------- ---------------------------
01.08 - CASH DIVIDENDS APPROVED AND/OR PAID DURING AND AFTER THE QUARTER
- ----------- ------------- --------------- -------------------- ---------------- --------------- ----------------------
1 - ITEM 2 - EVENT 3 - APPROVAL 4 - DIVIDEND 5 - BEGINNING 6 - TYPE OF 7 - EARNINGS PER
DATE OF PAYMENT SHARES SHARE
- ----------- ------------- --------------- -------------------- ---------------- --------------- ----------------------
01 ASM 5.28.1999 Interest on Capital 6.10.1999 Registered 1,0138000000
common
- ----------- ------------- --------------- -------------------- ---------------- --------------- ----------------------
02 ASM 5.28.1999 Interest on Capital 6.10.1999 Registered 1,0138000000
preferred A
- ----------- ------------- --------------- -------------------- ---------------- --------------- ----------------------
03 ASM 5.28.1999 Interest on Capital 6.10.1999 Registered 1,0138000000
preferred B
- ----------- ------------- --------------- -------------------- ---------------- --------------- ----------------------
Page 2
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- ------------- ---------------------- -------------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- ------------- ---------------------- -------------------------------------------
01.09 - SUBSCRIBED CAPITAL AND CHANGES IN THE CURRENT YEAR
- -------- ----------- --------------------- -------------------- -------------------- --------------------------- -------------------
1 - ITEM 2 - DATE OF 3 - AMOUNT OF CAPITAL 4 - AMOUNT OF CHANGE 5 - ORIGIN OF CHANGE 7 - NUMBER OF SHARES ISSUED 8 - PRICE OF SHARE
CHANGE (R$ thousand) (R$ thousand) (Thousand) UPON ISSUANCE (R$)
- -------- ----------- --------------------- -------------------- -------------------- --------------------------- -------------------
01 1.30.1999 131,703 (28,468) Partial spin- off 0 0.0000000000
- -------- ----------- --------------------- -------------------- -------------------- --------------------------- -------------------
01.10 - DIRECTOR OF MARKET RELATIONS
- ---------------------- ---------------------------------------------------------
1 - DATE 2 - SIGNATURE
9.03.1999
- ---------------------- ---------------------------------------------------------
Page 3
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- ------------- --------------------- --------------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- ------------- --------------------- --------------------------------------------
02.01 - BALANCE SHEET - ASSETS (in thousands of Brazilian reais)
- ------------- ------------------------------- -------------- --------------
1 - CODE 2 - DESCRIPTION 3 - 6.30.1999 4 - 3.31.1999
- ------------- ------------------------------- -------------- --------------
1 Total assets 244,771 252,026
- ------------- ------------------------------- -------------- --------------
1.01 Current assets 1,261 4,044
- ------------- ------------------------------- -------------- --------------
1.01.01 Cash and cash equivalents 0 0
- ------------- ------------------------------- -------------- --------------
1.01.01.01 Cash and banks 0 0
- ------------- ------------------------------- -------------- --------------
1.01.01.02 Short-term investments 0 0
- ------------- ------------------------------- -------------- --------------
1.01.02 Credits 873 873
- ------------- ------------------------------- -------------- --------------
1.01.02,01 Accounts receivable 873 873
- ------------- ------------------------------- -------------- --------------
1.01.03. Inventories 0 0
- ------------- ------------------------------- -------------- --------------
1.01.03.01 Raw materials 0 0
- ------------- ------------------------------- -------------- --------------
1.01.03.02 Work in process 0 0
- ------------- ------------------------------- -------------- --------------
1.01.03.03 Finished products 0 0
- ------------- ------------------------------- -------------- --------------
1.01.03.04 Sundry materials 0 0
- ------------- ------------------------------- -------------- --------------
1.01.04 Other 388 3,171
- ------------- ------------------------------- -------------- --------------
1.01.04.01 Advances to employees and other 388 0
- ------------- ------------------------------- -------------- --------------
1.01.04.03 Offsettable taxes 0 3,171
- ------------- ------------------------------- -------------- --------------
1.01.04.04 Other credits 0 0
- ------------- ------------------------------- -------------- --------------
1.02 Noncurrent assets 187,334 189,018
- ------------- ------------------------------- -------------- --------------
1.02.01 Sundry credits 895 728
- ------------- ------------------------------- -------------- --------------
1.02.01.01 Loans to stockholders 0 0
- ------------- ------------------------------- -------------- --------------
1.02.01.02 Recoverable income tax 895 728
- ------------- ------------------------------- -------------- --------------
1.02.02 Related-party transactions 186,439 188,290
- ------------- ------------------------------- -------------- --------------
1.02.02.01 Affiliated companies 0 0
- ------------- ------------------------------- -------------- --------------
1.02.02.02 Subsidiaries 8,475 8,090
- ------------- ------------------------------- -------------- --------------
1.02.02.03 Other related companies 177,964 180,200
- ------------- ------------------------------- -------------- --------------
1.02.02.03.02 Abril Investments Corporation 173,072 175,426
- ------------- ------------------------------- -------------- --------------
1.02.02.03.03 Televisao Show Time Ltda. 3,001 3,001
- ------------- ------------------------------- -------------- --------------
1.02.02.03.03 Other 1,891 1,773
- ------------- ------------------------------- -------------- --------------
1.02.03 Other 0 0
- ------------- ------------------------------- -------------- --------------
1.02.03.01 Legal and compulsory deposits 0 0
- ------------- ------------------------------- -------------- --------------
1.02.03.02 Other credits 0 0
- ------------- ------------------------------- -------------- --------------
1.03 Permanent assets 56,176 58,964
- ------------- ------------------------------- -------------- --------------
1.03.01 Investments 56,176 58,964
- ------------- ------------------------------- -------------- --------------
1.03.01.01 In affiliated companies 0 0
- ------------- ------------------------------- -------------- --------------
1.03.01.02 In subsidiaries 56,125 58,913
- ------------- ------------------------------- -------------- --------------
1.03.01.02.03 Abril Investments Corporation 0 0
- ------------- ------------------------------- -------------- --------------
1.03.01.02.04 Abril Music Club Ltda. 0 0
- ------------- ------------------------------- -------------- --------------
1.03.01.02.05 Abril Video da Amazonia S.A. 0 0
- ------------- ------------------------------- -------------- --------------
1.03.01.02.06 Dinap S.A. Distrib.
Nac. de Publicacoes 0 0
- ------------- ------------------------------- -------------- --------------
1.03.01.02.07 Editora Novo Continente S.A. 0 0
- ------------- ------------------------------- -------------- --------------
1.03.01.02.08 Listel Listas Telefonicas S.A. 0 0
- ------------- ------------------------------- -------------- --------------
1.03.01.02.10 Reasa Representacao
de Assinaturas S.A. 0 0
- ------------- ------------------------------- -------------- --------------
1.03.01.02.11 Tevecap S.A. 45,851 47,814
- ------------- ------------------------------- -------------- --------------
1.03.01.02.12 TVA Continental S.A. 1 1
- ------------- ------------------------------- -------------- --------------
Page 4
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- -------------- -------------------- --------------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- -------------- -------------------- --------------------------------------------
02.01 - BALANCE SHEET - ASSETS (in thousands of Brazilian reais)
- -------------- --------------------------------- -------------- --------------
1 - CODE 2 - DESCRIPTION 3 - 6.30.1999 4 - 3.31.1999
- -------------- --------------------------------- -------------- --------------
1.03.01.02.13 TVA Sul Participacoes S.A. 10,273 11,098
- -------------- --------------------------------- -------------- --------------
1.03.01.02.15 Other 0 0
- -------------- --------------------------------- -------------- --------------
1.03.01.03 Other investments 51 51
- -------------- --------------------------------- -------------- --------------
1.03.01.03.01 Marketable securities 0 0
- -------------- --------------------------------- -------------- --------------
1.03.01.03.02 FISET 0 0
- -------------- --------------------------------- -------------- --------------
1.03.01.03.03 FINAM 51 51
- -------------- --------------------------------- -------------- --------------
1.03.01.03.05 Audiovisual incentive investments 0 0
- -------------- --------------------------------- -------------- --------------
1.03.02 Property, plant and equipment 0 0
- -------------- --------------------------------- -------------- --------------
1.03.02.01 Land 0 0
- -------------- --------------------------------- -------------- --------------
1.03.02.02 Buildings 0 0
- -------------- --------------------------------- -------------- --------------
1.03.02.03 Installations 0 0
- -------------- --------------------------------- -------------- --------------
1.03.02.04 Machinery and equipment 0 0
- -------------- --------------------------------- -------------- --------------
1.03.02.05 Furniture and fixtures 0 0
- -------------- --------------------------------- -------------- --------------
1.03.02.06 Vehicles 0 0
- -------------- --------------------------------- -------------- --------------
1.03.02.07 EDP equipment 0 0
- -------------- --------------------------------- -------------- --------------
1.03.02.08 Construction in progress 0 0
- -------------- --------------------------------- -------------- --------------
1.03.02.09 Other construction 0 0
- -------------- --------------------------------- -------------- --------------
1.03.03 Deferred charges 0 0
- -------------- --------------------------------- -------------- --------------
1.03.03.01 Restated cost 0 0
- -------------- --------------------------------- -------------- --------------
Page 5
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
01 - IDENTIFICATION
- ------------- --------------------- --------------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- ------------- --------------------- --------------------------------------------
02.02 - BALANCE SHEET - LIABILITIES AND STOCKHOLDERS' EQUITY
(in thousands of Brazilian reais)
- ---------- ------------------------------------- --------------- ---------------
1 - CODE 2 - DESCRIPTION 3 - 6.30.1999 4 - 3.31.1999
- ---------- ------------------------------------- --------------- ---------------
2 Total liabilities 244,771 252,026
- ---------- ------------------------------------- --------------- ---------------
2.01 Current liabilities 3,834 28,555
- ---------- ------------------------------------- --------------- ---------------
2.01.01 Loans and financing 3,834 8,943
- ---------- ------------------------------------- --------------- ---------------
2.01.01.01 Financing 3,834 8,943
- ---------- ------------------------------------- --------------- ---------------
2.01.02 Debentures 0 0
- ---------- ------------------------------------- --------------- ---------------
2.01.03 Trade accounts payable 0 0
- ---------- ------------------------------------- --------------- ---------------
2.01.04 Taxes and contributions payable 0 0
- ---------- ------------------------------------- --------------- ---------------
2.01.04.01 Income and social contribution taxes 0 0
- ---------- ------------------------------------- --------------- ---------------
2.01.04.02 Other taxes and contributions payable 0 0
- ---------- ------------------------------------- --------------- ---------------
2.01.05 Dividends payable 0 0
- ---------- ------------------------------------- --------------- ---------------
2.01.06 Accrued liabilities 0 19,612
- ---------- ------------------------------------- --------------- ---------------
2.01.06.01 Interest on capital 0 19,612
- ---------- ------------------------------------- --------------- ---------------
2.01.07 Related-party transactions 0 0
- ---------- ------------------------------------- --------------- ---------------
2.01.08 Other 0 0
- ---------- ------------------------------------- --------------- ---------------
2.01.08.01 Salaries and payroll taxes 0 0
- ---------- ------------------------------------- --------------- ---------------
2.01.08.02 Advances received 0 0
- ---------- ------------------------------------- --------------- ---------------
2.01.08.03 Royalties payable 0 0
- ---------- ------------------------------------- --------------- ---------------
2.01.08.04 Magazine subscriptions 0 0
- ---------- ------------------------------------- --------------- ---------------
2.01.08.05 Other accounts payable 0 0
- ---------- ------------------------------------- --------------- ---------------
2.02 Long-term liabilities 432,628 354,806
- ---------- ------------------------------------- --------------- ---------------
2.02.01 Loans and financing 176,950 172,200
- ---------- ------------------------------------- --------------- ---------------
2.02.01.01 Financial institutions 176,950 172,200
- ---------- ------------------------------------- --------------- ---------------
2.02.02 Debentures 0 0
- ---------- ------------------------------------- --------------- ---------------
2.02.03 Accrued liabilities 0 0
- ---------- ------------------------------------- --------------- ---------------
2.02.04 Related-party transactions 32,430 16,426
- ---------- ------------------------------------- --------------- ---------------
2.02.04.01 Editora Abril S.A. 21,906 5,128
- ---------- ------------------------------------- --------------- ---------------
2.02.04.02 A. R. & T. Ltda. 0 0
- ---------- ------------------------------------- --------------- ---------------
2.02.04.03 Abril Video da Amazonia S.A. 0 0
- ---------- ------------------------------------- --------------- ---------------
2.02.04.04 Editora Caras S.A. 0 0
- ---------- ------------------------------------- --------------- ---------------
2.02.04.05 Listel - Listas telefonicas S.A. 0 0
- ---------- ------------------------------------- --------------- ---------------
2.02.04.06 Editora Novo Continente S.A. 0 0
- ---------- ------------------------------------- --------------- ---------------
2.02.04.07 TV Cambara Ltda. 1,115 1,207
- ---------- ------------------------------------- --------------- ---------------
2.02.04.08 TV Cerejeira Ltda. 1,517 1,640
- ---------- ------------------------------------- --------------- ---------------
2.02.04.09 TV Eucalipto Ltda. 0 0
- ---------- ------------------------------------- --------------- ---------------
2.02.04.10 TV Jacaranda Ltda. 0 0
- ---------- ------------------------------------- --------------- ---------------
2.02.04.11 TV Jatoba Ltda. 1,648 1,703
- ---------- ------------------------------------- --------------- ---------------
2.02.04.12 TV Manaca Ltda. 0 0
- ---------- ------------------------------------- --------------- ---------------
2.02.04.13 TV Mogno Ltda. 1,585 1,712
- ---------- ------------------------------------- --------------- ---------------
2.02.04.14 TV Quaresmeira Ltda. 1,569 1,695
- ---------- ------------------------------------- --------------- ---------------
2.02.04.15 TV Sequoia Ltda. 1,538 1,665
- ---------- ------------------------------------- --------------- ---------------
2.02.04.16 TV Tipuana Ltda. 1,552 1,676
- ---------- ------------------------------------- --------------- ---------------
2.02.04.17 Other 0 0
- ---------- ------------------------------------- --------------- ---------------
2.02.04.18 Loans from stockholders 0 0
- ---------- ------------------------------------- --------------- ---------------
2.02.05 Other 223,248 166,180
- ---------- ------------------------------------- --------------- ---------------
Page 6
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- ------------- ----------------------- ------------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- ------------- ----------------------- ------------------------------------------
02.02 - BALANCE SHEET - LIABILITIES AND STOCKHOLDERS' EQUITY (in thousands of
Brazilian reais)
- ------------- ------------------------------------- -------------- -------------
1 - CODE 2 - DESCRIPTION 3 - 6.30.1999 4 - 3.31.1999
- ------------- ------------------------------------- -------------- -------------
2.02.05.01 Taxes and contributions payable 953 412
- ------------- ------------------------------------- -------------- -------------
2.02.05.02 Provision for losses on subsidiaries' 222,295 165,768
and affiliated companies' operations
- ------------- ------------------------------------- -------------- -------------
2.02.05.03 Deferred income tax 0 0
- ------------- ------------------------------------- -------------- -------------
2.03 Deferred income 0 0
- ------------- ------------------------------------- -------------- -------------
2.05 Stockholders' equity (191,691) (131,335)
- ------------- ------------------------------------- -------------- -------------
2.05.01 Paid-in capital 131,703 131,703
- ------------- ------------------------------------- -------------- -------------
2.05.01.01 Capital 131,703 131,703
- ------------- ------------------------------------- -------------- -------------
2.05.02 Capital reserves 25,673 25,673
- ------------- ------------------------------------- -------------- -------------
2.05.02.01 Investment grants 25,673 25,673
- ------------- ------------------------------------- -------------- -------------
2.05.03 Revaluation reserves 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.03.01 Own assets 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.03.02 Subsidiaries/Affiliated companies 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.04 Profit reserves 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.04.01 Legal 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.04.02 Statutory 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.04.03 For contingencies 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.04.04 Unrealized profits 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.04.05 Retention of profits 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.04.05.01 Retention of profits 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.04.06 Special for undistributed dividends 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.04.07 Other profit reserves 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.05 Retained earnings/accumulated deficit (349,067) (288,711)
- ------------- ------------------------------------- -------------- -------------
Page 7
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- -------------- -------------------- --------------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate
Taxpayers' Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- -------------- -------------------- --------------------------------------------
03.01 - STATEMENT OF OPERATIONS (in thousands of Brazilian reais)
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
1 - CODE 2 - DESCRIPTION 3 - 4.1.99 to 6.30.99 4 - 1.1.99 to 6.30.99 5 - 4.1.98 to 6.30.98 6 - 1.1.98 to 6.30.98
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.01 Gross sales of products
and services 0 0 252,304 426,708
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.02 Gross sales deductions (541) (953) (7,088) (11,568)
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.03 Net sales of products
and services (541) (953) 245,216 415,140
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.04 Cost of products
and services sold 0 0 (76,576) (134,470)
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.05 Gross profit (541) (953) 168,640 280,670
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.06 Operating income/expenses (59,981) (247,299) (184,787) (337,748)
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.06.01 Selling 0 0 (95,795) (174,168)
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.06.02 General and administrative 0 0 (48,815) (90,506)
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.06.03 Financial (391) (3,190) (5,355) (910)
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.06.03.01 Financial income 4,055 8,450 10,707 27,362
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.06.03.02 Financial expenses (4,446) (11,640) (16,062) (28,272)
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.06.04 Other operating income (59,147) (227,535) (6,900) (12,315)
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.06.04.01 Goodwill amortization (2,619) (5,239) (5,897) (9,099)
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.06.04.02 Provision for losses on
subsidiaries' operations (56,528) (222,296) (1,003) (3,216)
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.06.04.03 Other income 0 0 0 0
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.06.05 Other operating expenses (275) (390) (4,843) (9,813)
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.06.05.01 Exchange variations (275) (390) (4,843) (9,813)
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.06.05.02 Provision for losses on
subsidiaries' operations 0 0 0 0
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.06.05.03 Goodwill amortization 0 0 0 0
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.06.05.04 Other expenses 0 0 0 0
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.06.06 Equity in results of
subsidiaries and (168) (16,184) (23,079) (50,036)
affiliated companies
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.07 Operating expenses (60,522) (248,252) (16,147) (57,078)
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.08 Nonoperating income 0 0 10,184 7,173
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.08.01 Income 0 0 9,038 14,786
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.18.02 Expenses 0 0 1,146 (7,613)
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
3.09 Loss before taxes/
employee profit sharing (60,522) (248,252) (5,963) (49,905)
- ---------- -------------------------- ---------------------- ---------------------- ---------------------- ----------------------
Page 8
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- -------------- ---------------------- ------------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate
Taxpayers' Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- -------------- ---------------------- ------------------------------------------
03.01 - STATEMENT OF OPERATIONS (in thousands of Brazilian reais)
- ---------- ------------------------ ---------- ----------- ---------- ----------
3.10 Provision for income
and social contribution 0 0 0 0
taxes
- ---------- ------------------------ ---------- ----------- ---------- ----------
3.11 Deferred income tax 166 895 332 4,093
- ---------- ------------------------ ---------- ----------- ---------- ----------
3.12 Employee profit sharing/
statutory contributions 0 0 (3,092) (6,768)
- ---------- ------------------------ ---------- ----------- ---------- ----------
3.12.01 Profit sharing 0 0 (3,092) (6,768)
- ---------- ------------------------ ---------- ----------- ---------- ----------
3.12.01.01 Employee profit sharing 0 0 (3,092) (6,768)
- ---------- ------------------------ ---------- ----------- ---------- ----------
3.12.02 Contributions 0 0 0 0
- ---------- ------------------------ ---------- ----------- ---------- ----------
3.13 Reversal of interest
on capital 0 0 0 0
- ---------- ------------------------ ---------- ----------- ---------- ----------
3.15 Net income/loss
for the period (60,356) (247,357) (8,723) (52,580)
- ---------- ------------------------ ---------- ----------- ---------- ----------
NUMBER OF SHARES,
FORMER TREASURY STOCK
(thousand) 15,906 15,906 19,344 19,344
- ---------- ------------------------ ---------- ----------- ---------- ----------
EARNINGS PER SHARE 0 0 0 0
- ---------- ------------------------ ---------- ----------- ---------- ----------
LOSS PER SHARE (3.79454) (15.55118) (0.45094) (2.71816)
- ---------- ------------------------ ---------- ----------- ---------- ----------
Page 9
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
- --------------------------------------------------------------------------------
01437-0 ABRIL S.A. 44.597.052/0001-62
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
04.01 - NOTES TO THE QUARTERLY INFORMATION
- --------------------------------------------------------------------------------
1 - INTRODUCTION
In compliance with Instruction CVM No. 248 of 3.29.96, the financial statements
for the three-month period ended June 30, 1999 were prepared in accordance with
accounting practices emanating from Brazilian corporate law and supplementary
provisions. The accounting practices and criteria were applied consistently with
those adopted in preparing the financial statements of Abril S.A. for the last
fiscal year.
As required in CVM's Guidance Opinion No. 29 of April 18, 1996, the Company is
also presenting supplementary financial statements in constant purchasing power.
2 - LOANS AND FINANCING
On October 25, 1995, the Company raised funds in foreign markets by issuing
Eurobonds in the amount of US$100 million dollars, equivalent to R$176,950 at
the exchange rate of June 30, 1999. The principal of these bonds matures on
October 25, 2003, and investors have the option to redeem them up to the limit
of 99.99% of the principal on October 25, 1998. Interest thereon is 12% per year
above exchange rate variation, payable semiannually in April 25 and October 25,
having started on April 25, 1996.
On October 23, 1998, affiliate Abril Investiments Corporation invested in
foreign markets US$97,925, equivalent to R$173,278 at the exchange rate of June
30, 1999, backed by the aforementioned Eurobonds. These bonds are kept in
portfolio for future placement in the secondary market. As a consequence of this
operation and as opted by the other investors, the redemption right established
in the original contract was not exercised.
On November 26, 1996, subsidiary Tevecap S.A. raised funds in foreign markets in
the amount of US$250 million dollars, equivalent to R$442,375 at the exchange
rate of June 30, 1999, through the issuance of Senior Notes. The principal of
these bonds, which are secured by Tevecap's subsidiaries, matures on November
26, 2004. Interest is 12.625% per year above exchange rate variation, payable
semiannually in May 25 and November 25, having started on May 25, 1997.
Other foreign and local currency financing for fixed assets and working capital
mature up to April 2002 and are secured by promissory notes and mortgages of the
financed assets. Interest rates vary from 8.3% to 17.4% per year above the
exchange rate variation defined in the respective contracts.
Page 10
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
- --------------------------------------------------------------------------------
01437-0 ABRIL S.A. 44.597.052/0001-62
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
04.01 - NOTES TO THE QUARTERLY INFORMATION
- --------------------------------------------------------------------------------
3 - INCOME TAX
The amounts charged and credited to the Provision for Income Tax account for the
three-month period ended June 30, 1999 are as follows:
COMPANY CONSOLIDATED
------- ------------
Provision for deferred income tax asset (tax loss) 895 895
--- ---
Income tax credited to result 895 895
=== ===
4 - FINANCIAL INSTRUMENTS - CVM INSTRUCTION 235/95
Loans and financing are detailed in Note 2.
Except for the loan granted to affiliated company Televisao Show Time Ltda.,
which is not subject to interest, all other loans granted to or obtained from
subsidiaries and affiliated companies under loan agreements are subject to
market interest at prevailing market rates.
The market values of other financial instruments receivable and payable as of
June 30, 1999 do not differ from those recorded in the financial statements.
Such operations are performed and controlled based on criteria periodically
reviewed considering financial soundness, reliability and market profile of the
entity with which they are carried out.
5 - PROCESSING OF DATES AFTER 1999 (UNAUDITED)
The Company's management established a specific project to make the computer
systems year 2000 compliant and ensure that there will be no disruption of
operations. This project includes, among other:
a) Definition of human and financial resources and appointment of a Top
Management member as responsible for its implementation, execution and
control;
b) Establishment of a communication program to alert business partners and
internal users to aspects of the year 2000 so as to make them aware of the
risks involved and the solutions required;
c) An inventory of applications and production and corporate equipment which
could be affected by this issue;
Page 11
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
- --------------------------------------------------------------------------------
01437-0 ABRIL S.A. 44.597.052/0001-62
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
04.01 - NOTES TO THE QUARTERLY INFORMATION
- --------------------------------------------------------------------------------
d) Applications acquired from external suppliers are guaranteed by them as to
the correct treatment of dates subsequent to December 31, 1999. All systems
are being tested and the measures taken by such suppliers are monitored;
e) In-house developed applications are being adjusted following a schedule
defined based on their importance. The last adjustment is scheduled to be
completed in 1999.
8 - SUBSEQUENT EVENTS
So as to generate the cash flow needed to support and expand its operations and
business, Management has taken a series of actions, including the sale of
non-strategic assets, cost reduction, and offering of new services and products,
such as the recently launched @JATO, Internet access through the operator's
cables. The following operations were carried out:
On July 28, 1999, upon approval of ANATEL - National Agency of
Telecommunications, direct subsidiary Tevecap S.A. and indirect subsidiary
TVACommunications Ltd. (TVAICO), executed the sales agreements dated May 18,
1999, and sold their total interest in subsidiaries and affiliated companies, as
shown below, to Galaxy Latin America, DirectTV Latin America Inc. and Darlene
Investments LLC, of Hughes Eletronics and the Cisneros Group respectively.
a) Participations sold to Galaxy Latin America:
a.1.100% of the participation in Galaxy do Brasil Ltda. (GLB), wholly-owned
subsidiary and DirecTV's exclusive local operator in Brazil;
a.2.100% of the participation in TVA Banda C Ltda. (TVA Banda C), TVA's
operator for Band C services;
b) Participations sold to DirecTV Latin America Inc. and Darlene Investments
LLC:
b.1.10% of the participation in Galaxy Latin America, in which Tevecap has
an indirect investment through its subsidiary TVA Communications Ltd.
(TVAICO);
Page 12
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
- --------------------------------------------------------------------------------
01437-0 ABRIL S.A. 44.597.052/0001-62
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
04.01 - NOTES TO THE QUARTERLY INFORMATION
- --------------------------------------------------------------------------------
b.2.25% of the participation in Surfin Ltd. (Surfin), a limited liability
company engaged in financing of DirecTV's services throughout Latin
America;
b.3.The rights to promissory notes (CBC Notes) receivable from related
company California Broadcast Center (CBC), a limited liability company
of Delaware, US, the principal of which totals R$7,580 thousand; and
b.4.CBC Unit Acquisition Class B Bonuses (CBC Bonuses), dated April 11,
1997, convertible into CBC shares, recorded under the cost method at
zero.
The above operations total R$674,070, equivalent, on the closing date, to
US$371,000, represented as follows:
a) The amount of R$315,056, equivalent to US$173,403, related to revenues from
the sale of these assets, R$268,725 (US$147,903) of which in cash and
R$46,331 (US$25,500) through a Promissory Note subject to London Inter-Bank
Bid Rate (LIBID) interest above exchange variation, maturing on July 28,
2001;
b) The amount of R$359,014, equivalent to US$197,597, related to the absorption
of debts of these companies. Of this total, the amount of R$53,724
(US$29,569) refers to loan to affiliated company Editora Abril S.A., which
was settled immediately after closing of the operation.
In addition, as part of these agreements, on July 28, 1999, indirect subsidiary
TVA Communications Ltd. used the funds obtained from these operations and
invested in foreign markets the amount of US$131,201, equivalent to R$238,379,
in Senior Notes issued by direct subsidiary Tevecap S.A. This investment was
made with a negative goodwill of 35% of the face value of these Notes,
equivalent to US$70,647. As a result of this investment, of the total amount of
US$250,000 of Senior Notes issued, US$201,848 are kept in portfolio for future
placement in the secondary market.
Page 13
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
- --------------------------------------------------------------------------------
01437-0 ABRIL S.A. 44.597.052/0001-62
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
04.01 - NOTES TO THE QUARTERLY INFORMATION
- --------------------------------------------------------------------------------
In view of the above, as from this quarter, the financial statements of Galaxy
do Brasil Ltda. and TVA Banda C Ltda. are no longer included in the consolidated
financial statements, as established by CVM Instruction 247/96.
Page 14
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
- ------------------------ -------------------------------------------------------
01437-0 - ABRIL S.A. 44.597.052/0001-62
- ------------------------ -------------------------------------------------------
- --------------------------------------------------------------------------------
08.01--COMMENT ON THE COMPANY'S PERFORMANCE IN THE QUARTER
- --------------------------------------------------------------------------------
MARKET
Abril S.A.'s principal activity is participating in Pay TV companies. Its result
for the three-month period ended June 30, 1999 consists basically of equity in
results of subsidiaries and affiliated companies.
Page 15
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- -------------- ----------------------- -----------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- -------------- ----------------------- -----------------------------------------
06.01 - CONSOLIDATED BALANCE SHEET - ASSETS (in thousands of Brazilian reais)
- ------------- -------------------------------- --------------- ---------------
1 - CODE 2 - DESCRIPTION 3 - 6.30.1999 4 - 3.31.1999
- ------------- -------------------------------- --------------- ---------------
1 Total assets 851,613 861,613
- ------------- -------------------------------- --------------- ---------------
1.01 Current assets 64,505 60,734
- ------------- -------------------------------- --------------- ---------------
1.01.01 Cash and cash equivalents 1,836 2,296
- ------------- -------------------------------- --------------- ---------------
1.01.01.01 Cash and banks 1,834 2,294
- ------------- -------------------------------- --------------- ---------------
1.01.01.02 Short-term investments 2 2
- ------------- -------------------------------- --------------- ---------------
1.01.02 Credits 23,420 17,764
- ------------- -------------------------------- --------------- ---------------
1.01.02.01 Accounts receivable 23,420 17,764
- ------------- -------------------------------- --------------- ---------------
1.01.03 Inventories 20,767 24,595
- ------------- -------------------------------- --------------- ---------------
1.01.03.01 Raw materials 14,368 14,976
- ------------- -------------------------------- --------------- ---------------
1.01.03.02 Work in process 0 0
- ------------- -------------------------------- --------------- ---------------
1.01.03.03 Finished products 0 0
- ------------- -------------------------------- --------------- ---------------
1.01.03.04 Sundry materials 6,399 9,619
- ------------- -------------------------------- --------------- ---------------
1.01.04 Other 18,482 16,079
- ------------- -------------------------------- --------------- ---------------
1.01.04.01 Advances to employees and other 16,665 11,599
- ------------- -------------------------------- --------------- ---------------
1.01.04.03 Offsettable taxes 1,817 4,480
- ------------- -------------------------------- --------------- ---------------
1.02 Noncurrent assets 250,218 255,773
- ------------- -------------------------------- --------------- ---------------
1.02.01 Sundry credits 895 728
- ------------- -------------------------------- --------------- ---------------
1.02.01.01 Loans to stockholders 0 0
- ------------- -------------------------------- --------------- ---------------
1.02.01.02 Recoverable income tax 895 728
- ------------- -------------------------------- --------------- ---------------
1.02.02 Related-party transactions 240,072 244,564
- ------------- -------------------------------- --------------- ---------------
1.02.02.01 Affiliated companies 0 0
- ------------- -------------------------------- --------------- ---------------
1.02.02.02 Subsidiaries 0 0
- ------------- -------------------------------- --------------- ---------------
1.02.02.03 Other related companies 240,072 244,564
- ------------- -------------------------------- --------------- ---------------
1.02.02.03.01 TVA Brasil Radioenlaces Ltda. 26,102 26,102
- ------------- -------------------------------- --------------- ---------------
1.02.02.03.02 Canbras TVA Cabo Ltda. 10,336 9,772
- ------------- -------------------------------- --------------- ---------------
1.02.02.03.03 Prize Investments Limited 0 0
- ------------- -------------------------------- --------------- ---------------
1.02.02.03.04 Televisao Show Time Ltda. 3,001 3,001
- ------------- -------------------------------- --------------- ---------------
1.02.02.03.05 HBO Partners 0 0
- ------------- -------------------------------- --------------- ---------------
1.02.02.03.06 TV Manaca Ltda. 447 412
- ------------- -------------------------------- --------------- ---------------
1.02.02.03.07 California Broadcast Center 7,636 7,940
- ------------- -------------------------------- --------------- ---------------
1.02.02.03.08 Canbras Participacoes Ltda. 311 311
- ------------- -------------------------------- --------------- ---------------
1.02.02.03.09 IHK S.A. 0 0
- ------------- -------------------------------- --------------- ---------------
1.02.02.03.10 MTV Brasil Ltda. 0 0
- ------------- -------------------------------- --------------- ---------------
1.02.02.03.11 SCP Elle 0 0
- ------------- -------------------------------- --------------- ---------------
1.02.02.03.12 Abril Musiclub Ltda. 0 0
- ------------- -------------------------------- --------------- ---------------
1.02.02.03.13 Associacao Abril de Beneficios 0 0
- ------------- -------------------------------- --------------- ---------------
1.02.02.03.14 Parana Participacoes S/C Ltda. 0 0
- ------------- -------------------------------- --------------- ---------------
1.02.02.03.15 TVA Finco Ltd. 15,932 15,932
- ------------- -------------------------------- --------------- ---------------
1.02.02.03.16 Abril Investments Corporation 173,072 175,426
- ------------- -------------------------------- --------------- ---------------
1.02.02.03.17 TVA Banda C Ltda. 0 2,515
- ------------- -------------------------------- --------------- ---------------
1.02.02.03.19 Other 3,235 3,153
- ------------- -------------------------------- --------------- ---------------
1.02.03 Other 9,251 10,481
- ------------- -------------------------------- --------------- ---------------
1.02.03.01 Legal and compulsory deposits 3,950 2,979
- ------------- -------------------------------- --------------- ---------------
1.02.03.02 Tax incentives and other 5,301 7,502
- ------------- -------------------------------- --------------- ---------------
Page 16
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- ------------- -------------------------- ---------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- ------------- -------------------------- ---------------------------------------
06.01 - CONSOLIDATED BALANCE SHEET - ASSETS (in thousands of reais)
- ------------- ----------------------------------- --------------- --------------
1 - CODE 2 - DESCRIPTION 3 - 6.30.1999 4 - 3.31.1999
- ------------- ----------------------------------- --------------- --------------
1.02.03.03 Prepaid expenses 0 0
- ------------- ----------------------------------- --------------- --------------
1.03 Permanent assets 536,890 545,106
- ------------- ----------------------------------- --------------- --------------
1.03.01 Investments 144,399 144,620
- ------------- ----------------------------------- --------------- --------------
1.03.01.01 In affiliated companies 0 0
- ------------- ----------------------------------- --------------- --------------
1.03.01.02 In subsidiaries 85,297 89,102
- ------------- ----------------------------------- --------------- --------------
1.03.01.02.01 Tevecap S.A. 45,851 47,814
- ------------- ----------------------------------- --------------- --------------
1.03.01.02.02 TVA Sul Participacoes Ltda. 9,205 9,863
- ------------- ----------------------------------- --------------- --------------
1.03.01.02.03 TVA Sistema de Televisao S.A. 17,469 18,197
- ------------- ----------------------------------- --------------- --------------
1.03.01.02.04 Other 12,772 13,228
- ------------- ----------------------------------- --------------- --------------
1.03.01.03 Other investments 59,102 55,518
- ------------- ----------------------------------- --------------- --------------
1.03.01.03.01 Marketable securities 0 0
- ------------- ----------------------------------- --------------- --------------
1.03.01.03.02 FISET 0 0
- ------------- ----------------------------------- --------------- --------------
1.03.01.03.03 FINAM 51 51
- ------------- ----------------------------------- --------------- --------------
1.03.01.03.04 Loans - Eletrobras 0 0
- ------------- ----------------------------------- --------------- --------------
1.03.01.03.05 Other 6,148 2,564
- ------------- ----------------------------------- --------------- --------------
1.03.01.03.06 ITSA Intercontinental Telecom Ltda. 7,236 7,236
- ------------- ----------------------------------- --------------- --------------
1.03.01.03.07 Galaxy Latin America 45,667 45,667
- ------------- ----------------------------------- --------------- --------------
1.03.02 Property, plant and equipment 309,562 314,731
- ------------- ----------------------------------- --------------- --------------
1.03.02.01 Land 1,890 1,890
- ------------- ----------------------------------- --------------- --------------
1.03.02.02 Buildings 1,760 1,800
- ------------- ----------------------------------- --------------- --------------
1.03.02.03 Installations 1,537 1,596
- ------------- ----------------------------------- --------------- --------------
1.03.02.04 Industrial machinery and equipment 0 0
- ------------- ----------------------------------- --------------- --------------
1.03.02.05 Television equipment 200,761 205,040
- ------------- ----------------------------------- --------------- --------------
1.03.02.06 Furniture and fixtures 1,288 1,340
- ------------- ----------------------------------- --------------- --------------
1.03.02.07 Vehicles 1,627 1,751
- ------------- ----------------------------------- --------------- --------------
1.03.02.08 EDP equipment 6,751 6,249
- ------------- ----------------------------------- --------------- --------------
1.03.02.09 Construction in progress 3,321 3,575
- ------------- ----------------------------------- --------------- --------------
1.03.02.10 Cable installations 86,838 87,422
- ------------- ----------------------------------- --------------- --------------
1.03.02.11 Other construction 3,789 4,068
- ------------- ----------------------------------- --------------- --------------
1.03.03 Deferred charges 82,929 85,755
- ------------- ----------------------------------- --------------- --------------
1.03.03.01 Restated cost 82,929 85,755
- ------------- ----------------------------------- --------------- --------------
Page 17
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- ------------- --------------------- --------------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- ------------- --------------------- --------------------------------------------
06.02 - CONSOLIDATED BALANCE SHEET - LIABILITIES AND STOCKHOLDERS' EQUITY
(in thousands of Brazilian reais)
- ---------- ------------------------------------ --------------- ---------------
1 - CODE 2 - DESCRIPTION 3 - 6.30.1999 4 - 3.31.1999
- ---------- ------------------------------------ --------------- ---------------
2 Total liabilities 851,613 861,613
- ---------- ------------------------------------ --------------- ---------------
2.01 Current liabilities 130,302 175,308
- ---------- ------------------------------------ --------------- ---------------
2.01.01 Loans and financing 35,312 66,701
- ---------- ------------------------------------ --------------- ---------------
2.01.02 Debentures 0 0
- ---------- ------------------------------------ --------------- ---------------
2.01.03 Trade accounts payable 45,740 56,553
- ---------- ------------------------------------ --------------- ---------------
2.01.04 Taxes and contributions payable 30,459 20,292
- ---------- ------------------------------------ --------------- ---------------
2.01.04.01 Income and social contribution
taxes 37 85
- ---------- ------------------------------------ --------------- ---------------
2.01.04.02 Other taxes and contributions
payable 30,422 20,207
- ---------- ------------------------------------ --------------- ---------------
2.01.05 Dividends payable 0 0
- ---------- ------------------------------------ --------------- ---------------
2.01.06 Accrued liabilities 0 19,612
- ---------- ------------------------------------ --------------- ---------------
2.01.06.01 Dividends/interest on
capital payable 0 19,612
- ---------- ------------------------------------ --------------- ---------------
2.01.07 Related-party transactions 0 0
- ---------- ------------------------------------ --------------- ---------------
2.01.08 Other 18,791 12,150
- ---------- ------------------------------------ --------------- ---------------
2.01.08.01 Salaries, profit sharing and 4,799 5,436
payroll taxes
- ---------- ------------------------------------ --------------- ---------------
2.01.08.02 Advances received 1,810 2,049
- ---------- ------------------------------------ --------------- ---------------
2.01.08.03 Royalties and copyrights payable 0 0
- ---------- ------------------------------------ --------------- ---------------
2.01.08.04 Other accounts payable 6,806 4,665
- ---------- ------------------------------------ --------------- ---------------
2.01.08.05 Advances received 5,376 0
- ---------- ------------------------------------ --------------- ---------------
2.02 Long-term liabilities 1,052,348 922,498
- ---------- ------------------------------------ --------------- ---------------
2.02.01 Loans and financing 640,360 623,479
- ---------- ------------------------------------ --------------- ---------------
2.02.02 Debentures 0 0
- ---------- ------------------------------------ --------------- ---------------
2.02.03 Accrued liabilities 0 0
- ---------- ------------------------------------ --------------- ---------------
2.02.04 Related-party transactions 242,435 169,282
- ---------- ------------------------------------ --------------- ---------------
2.02.04.01 Editora Abril S.A. 221,840 154,623
- ---------- ------------------------------------ --------------- ---------------
2.02.04.02 Editora Caras S.A. 0 0
- ---------- ------------------------------------ --------------- ---------------
2.02.04.03 TV Cambara Ltda. 1,115 1,207
- ---------- ------------------------------------ --------------- ---------------
2.02.04.04 TV Cerejeira Ltda. 1,517 1,640
- ---------- ------------------------------------ --------------- ---------------
2.02.04.05 TV Eucalipto Ltda. 0 0
- ---------- ------------------------------------ --------------- ---------------
2.02.04.06 TV Jacaranda Ltda. 0 0
- ---------- ------------------------------------ --------------- ---------------
2.02.04.07 TV Jatoba Ltda. 1,648 1,703
- ---------- ------------------------------------ --------------- ---------------
2.02.04.08 TV Manaca Ltda. 0 0
- ---------- ------------------------------------ --------------- ---------------
2.02.04.09 TV Mogno Ltda. 1,585 1,712
- ---------- ------------------------------------ --------------- ---------------
2.02.04.10 TV Quaresmeira Ltda. 1,569 1,695
- ---------- ------------------------------------ --------------- ---------------
2.02.04.11 TV Sequoia Ltda. 1,538 1,665
- ---------- ------------------------------------ --------------- ---------------
2.02.04.12 TV Tipuana Ltda. 1,551 1,676
- ---------- ------------------------------------ --------------- ---------------
2.02.04.13 Galaxy do Brasil Ltda. 6,389 0
- ---------- ------------------------------------ --------------- ---------------
2.02.04.14 Canbras Communication Corporation 0 0
- ---------- ------------------------------------ --------------- ---------------
2.02.04.15 Gracia Consultoria e
Investimentos, Lda 0 0
- ---------- ------------------------------------ --------------- ---------------
2.02.04.16 TVA Network Participacoes S.A. 3,683 3,361
- ---------- ------------------------------------ --------------- ---------------
2.02.04.17 Other 0 0
- ---------- ------------------------------------ --------------- ---------------
2.02.05 Other 169,553 129,737
- ---------- ------------------------------------ --------------- ---------------
2.02.05.01 Loans from stockholders 0 0
- ---------- ------------------------------------ --------------- ---------------
2.02.05.02 Taxes and contributions payable 2,176 1,631
- ---------- ------------------------------------ --------------- ---------------
Page 18
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- ------------- --------------------- --------------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- ------------- --------------------- --------------------------------------------
06.02 - CONSOLIDATED BALANCE SHEET - LIABILITIES AND STOCKHOLDERS' EQUITY
(in thousands of Brazilian reais)
- ------------- ------------------------------------- -------------- -------------
1 - CODE 2 - DESCRIPTION 3 - 6.30.1999 4 - 3.31.1999
- ------------- ------------------------------------- -------------- -------------
2.02.05.03 Provision for losses on subsidiaries'
and affiliated companies' operations 159,040 120,167
- ------------- ------------------------------------- -------------- -------------
2.02.05.04 Deferred income tax 0 0
- ------------- ------------------------------------- -------------- -------------
2.02.05.05 Other 8,337 7,939
- ------------- ------------------------------------- -------------- -------------
2.03 Deferred income 0 0
- ------------- ------------------------------------- -------------- -------------
2.04 Minority interest (139,346) (104,858)
- ------------- ------------------------------------- -------------- -------------
2.05 Stockholders' equity (191,691) (131,335)
- ------------- ------------------------------------- -------------- -------------
2.05.01 Paid-in capital 131,703 131,703
- ------------- ------------------------------------- -------------- -------------
2.05.02 Capital reserves 25,673 25,673
- ------------- ------------------------------------- -------------- -------------
2.05.03 Revaluation reserves 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.03.01 Own assets 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.03.02 Subsidiaries/Affiliated companies 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.04 Profit reserves 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.04.01 Legal 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.04.02 Statutory 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.04.03 For contingencies 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.04.04 Unrealized profits 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.04.05 Retention of profits 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.04.05.01 Retention of profits 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.04.06 Special for undistributed dividends 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.04.07 Other profit reserves 0 0
- ------------- ------------------------------------- -------------- -------------
2.05.05 Retained earnings/accumulated deficit (349,067) (288,711)
- ------------- ------------------------------------- -------------- -------------
Page 19
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- -------------- ----------------------- -----------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
01437-0 ABRIL S.A. Registration
44.597.052/0001-62
- -------------- ----------------------- -----------------------------------------
07.01 - CONSOLIDATED STATEMENT OF OPERATIONS (in thousands of Brazilian reais)
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
1 - CODE 2 - DESCRIPTION 3 - 1.1.1999 to 4 - 1.1.1999 to 5 - 4.1.1998 to 6 - 4.1.1998 to
6.30.1999 6.30.1999 6.30.1998 6.30.1998
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.01 Gross sales of products and services 61,594 118,109 492,693 877,974
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.02 Gross sales deductions (6,365) (10,997) (20,367) (36,343)
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.03 Net sales of products and services 55,229 107,112 472,326 841,631
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.04 Cost of products and services sold (47,220) (94,994) (223,056) (417,683)
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.05 Gross profit 8,009 12,118 249,270 423,948
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.06 Operating income/expenses (102,666) (404,688) (274,789) (510,695)
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.06.01 Selling (7,061) (10,911) (147,719) (279,260)
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.06.02 General and administrative (10,676) (21,419) (86,412) (165,057)
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.06.03 Financial (34,661) (62,215) (20,890) (30,000)
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.06.03.01 Financial income 4,969 13,917 3,320 29,887
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.06.03.02 Financial expenses (39,630) (76,132) (24,210) (59,887)
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.06.04 Other operating income (50,268) (310,143) (19,275) (35,320)
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.06.04.01 Goodwill amortization (3,804) (7,608) (6,595) (10,480)
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.06.04.02 Provision for losses on subsidiaries' operations (35,291) (129,396) 0 0
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.06.04.03 Other income 0 0 0 0
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.06.04.04 Exchange variations (11,173) (173,139) (12,680) (24,840)
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.06.05 Other operating expenses 0 0 0 0
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.06.05.01 Exchange variations 0 0 0 0
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.06.05.02 Provision for losses on subsidiaries' operations 0 0 0 0
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.06.05.03 Goodwill amortization 0 0 0 0
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.06.05.04 Other expenses 0 0 0 0
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.06.06 Equity in results of subsidiaries and
affiliated companies 0 0 (493) (1,058)
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.07 Operating expenses (94,657) (392,570) (25,519) (86,747)
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.08 Nonoperating expenses (income) (352) (1,233) 9,898 7,472
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.08.01 Income 0 0 8,704 16,823
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
3.08.02 Expenses (352) (1,233) 1,194 (9,351)
- ---------- ------------------------------------------------- ----------------- ----------------- ----------------- -----------------
Page 20
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- -------------- ---------------------- ------------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
01437-0 ABRIL S.A. Registration
44.597.052/0001-62
- -------------- ---------------------- ------------------------------------------
07.01 - CONSOLIDATED STATEMENT OF OPERATIONS (in thousands of Brazilian reais)
- ----------- ------------------------------------------------ ----------------- ----------------- ----------------- -----------------
1 - CODE 2 - DESCRIPTION 3 - 1.1.1999 to 4 - 1.1.1999 to 5 - 1.1.1998 to 6 - 1.1.1998 to
3.31.1999 3.31.1999 3.31.1998 3.31.1998
- ----------- ------------------------------------------------ ----------------- ----------------- ----------------- -----------------
3.09 Income (loss) before taxes/employee profit
sharing (95,009) (393,803) (15,621) (79,275)
- ----------- ------------------------------------------------ ----------------- ----------------- ----------------- -----------------
3.10 Provision for income and social contribution
taxes 0 0 (4,205) (6,732)
- ----------- ------------------------------------------------ ----------------- ----------------- ----------------- -----------------
3.11 Deferred income tax 166 895 349 7,225
- ----------- ------------------------------------------------ ----------------- ----------------- ----------------- -----------------
3.12 Employee profit sharing/statutory contributions 0 0 (3,652) (7,529)
- ----------- ------------------------------------------------ ----------------- ----------------- ----------------- -----------------
3.12.01 Profit sharing 0 0 (3,652) (7,529)
- ----------- ------------------------------------------------ ----------------- ----------------- ----------------- -----------------
3.12.01.01 Employee profit sharing 0 0 (3,652) (7,529)
- ----------- ------------------------------------------------ ----------------- ----------------- ----------------- -----------------
3.12.02 Contributions 0 0 0 0
- ----------- ------------------------------------------------ ----------------- ----------------- ----------------- -----------------
3.13 Reversal of interest on capital 0 0 0 0
- ----------- ------------------------------------------------ ----------------- ----------------- ----------------- -----------------
3.14 Minority interest 34,488 145,551 14,406 33,731
- ----------- ------------------------------------------------ ----------------- ----------------- ----------------- -----------------
3.15 Net income/loss for the period (60,355) (247,357) (8,723) (52,580)
- ----------- ------------------------------------------------ ----------------- ----------------- ----------------- -----------------
NUMBER OF SHARES, FORMER TREASURY STOCK
(thousand) 15,906 15,906 19,344 19,344
- ----------- ------------------------------------------------ ----------------- ----------------- ----------------- -----------------
EARNINGS PER SHARE 0
- ----------- ------------------------------------------------ ----------------- ----------------- ----------------- -----------------
LOSS PER SHARE (3.79448) (15.55118) (0.45094) (2.71816)
- ----------- ------------------------------------------------ ----------------- ----------------- ----------------- -----------------
Page 21
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
- ------------------------ -------------------------------------------------------
01437-0 - ABRIL S.A. 44.597.052/0001-62
- ------------------------ -------------------------------------------------------
- --------------------------------------------------------------------------------
08.01--COMMENT ON THE CONSOLIDATED PERFORMANCE IN THE QUARTER
- --------------------------------------------------------------------------------
MARKET
Abril S.A. and its subsidiaries operate solely in providing of Pay TV
services.
This area, through TVA, presently with 313,000 subscribers, presented a
reduction of 1.6% as compared to the same period of the previous year.
ADMINISTRATIVE COSTS AND EXPENSES
The increase in administrative costs and expenses, as compared to the same
period of the previous year was mainly due to the increase in depreciation
expenses, amortization of deferred charges and programming costs of Tevecap
and its subsidiaries in view of the expansion of its operations.
INVESTMENTS
Disbursements expected for 1999 amount to R$82.5 million which will be
invested in the following:
- acquisition of Pay TV broadcasting and reception equipment.
- new installations, furniture and fixtures.
To date, R$60.7 million of the total amount has been disbursed.
Approximately R$12.1 million is expected to be disbursed in the next
quarter.
FINANCIAL FLOW
For the quarter, the Company and its subsidiaries had a bank indebtedness
balance of R$675.7 million, 94.7% of which is represented by long-term debts.
However, the Company has a loan receivable from the affiliated company Abril
Investments Corporation (AICO) as described in Note 2. Therefore, its net
indebtedness amounts to R$500.8 million.
Page 22
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
- --------------------------------------------------------------------------------
01437-0 ABRIL S.A. 44.597.052/0001-62
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
18.02 - COMMENT ON CONSOLIDATED PERFORMANCE IN THE QUARTER
- --------------------------------------------------------------------------------
Page 23
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- --------------- --------------------- ------------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- --------------- --------------------- ------------------------------------------
09.01 - INVESTMENTS IN SUBSIDIARIES AND/OR AFFILIATED COMPANIES
- --------------------------------------------------------------------------------
1 - ITEM 2 - REGISTERED NAME OF SUBSIDIARY/AFFILIATED COMPANY
01 TEVECAP S.A.
- --------------------------------------------------------------------------------
3 - CNPJ - National Corporate 4 - CLASSIFICATION
Taxpayers' Registration
57.574.170/0001-05 CLOSELY-HELD SUBSIDIARY
- --------------------------------------------------------------------------------
5 - % INTEREST 6 - % STOCKHOLDERS'
IN CAPITAL OF EQUITY OF INVESTOR
INVESTEE
62.16 0.00
- --------------------------------------------------------------------------------
7 - TYPE OF COMPANY 8 - NUMBER OF SHARES HELD IN THE CURRENT QUARTER
(THOUSAND)
COMMERCIAL, INDUSTRIAL AND OTHER 140,701
- --------------------------------------------------------------------------------
9 - NUMBER OF SHARES HELD IN THE PRIOR QUARTER
(THOUSAND)
140,701
- --------------------------------------------------------------------------------
Page 24
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
- --------------------------------------------------------------------------------
01437-0 ABRIL S.A. 44.597.052/0001-62
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
17.01 - REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS - UNQUALIFIED
- --------------------------------------------------------------------------------
To the Board of Directors of
Abril S.A.
(1) We have reviewed the quarterly information of ABRIL S.A. (a Brazilian
corporation) which includes the balance sheet as of June 30, 1999, the statement
of operations for the quarter then ended, the performance report and relevant
information.
(2) Our review was conducted in accordance with specific standards established
by the Brazilian Institute of Accountants - IBRACON, together with the Federal
Accounting Council, and consisted principally of: (a) inquiries of and
discussions with management responsible for the accounting, financial and
operating areas as to the principal criteria adopted in the preparation of the
quarterly information, and (b) review of information and subsequent events which
had or could have had a relevant effect on the financial position and results of
operations of the Company.
(3) Based on our review, we are not aware of any material modifications that
should be made to the quarterly information referred to above for it to be in
conformity with accounting practices emanating from Brazilian corporate law, and
with standards established by the Brazilian Securities Commission -CVM,
specifically applicable to the preparation of mandatory quarterly information.
(4) Also based on our review, we are not aware of any material modifications
that should be made to the quarterly information referred to in paragraph 1
above for it to be in conformity with accounting practices emanating from
Brazilian corporate law, and with standards established by the Brazilian
Securities Commission - CVM, specifically applicable to the preparation of
voluntary quarterly information in constant purchasing power currency.
Page 25
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
- --------------------------------------------------------------------------------
01437-0 ABRIL S.A. 44.597.052/0001-62
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
17.01 - REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS - UNQUALIFIED
- --------------------------------------------------------------------------------
(5) The balance sheet as of March 31, 1999, presented for comparative purposes,
had been audited by us and our report thereon, dated August 31, 1999, was issued
without qualification. The statement of operations for the quarter and the
six-month period ended June 30, 1998, presented for comparative purposes, had
also been previously reviewed by us and our report thereon, dated September 15,
1998, was issued without qualification.
Sao Paulo, September 3, 1999
ARTHUR ANDERSEN S/C
Marco Antonio Brandao Simurro
Engagement Partner
Page 26
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
- --------------------------------------------------------------------------------
01437-0 ABRIL S.A. 44.597.052/0001-62
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
18.02 - COMMENT ON THE SUBSIDIARY/AFFILIATED COMPANY PERFORMANCE
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Subsidiary/Affiliated Company : TEVECAP S.A.
- --------------------------------------------------------------------------------
See comment on consolidated performance.
Page 27
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
- --------------------------------------------------------------------------------
01437-0 ABRIL S.A. 44.597.052/0001-62
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
18.02 - COMMENT ON THE SUBSIDIARY/AFFILIATED COMPANY PERFORMANCE
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Subsidiary/Affiliated Company : TEVECAP S.A.
- --------------------------------------------------------------------------------
Page 28
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
- --------------------------------------------------------------------------------
01437-0 ABRIL S.A. 44.597.052/0001-62
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
18.02 - COMMENT ON THE SUBSIDIARY/AFFILIATED COMPANY PERFORMANCE
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
Subsidiary/Affiliated Company : TEVECAP S.A.
- --------------------------------------------------------------------------------
Page 29
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Corporate Law
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- ------------- -------------------- ---------------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- ------------- -------------------- ---------------------------------------------
CONTENTS
- ---------- ---------- --------------------------------------------- -----------
GROUP TABLE DESCRIPTION PAGE
- ---------- ---------- --------------------------------------------- -----------
01 01 IDENTIFICATION 1
- ---------- ---------- --------------------------------------------- -----------
01 02 HEAD OFFICE 1
- ---------- ---------- --------------------------------------------- -----------
01 03 DIRECTOR OF MARKET RELATIONS
(Address for correspondence with Company) 1
- ---------- ---------- --------------------------------------------- -----------
01 04 QUARTERLY INFORMATION REFERENCE 1
- ---------- ---------- --------------------------------------------- -----------
01 05 COMPOSITION OF CAPITAL 2
- ---------- ---------- --------------------------------------------- -----------
01 06 CHARACTERISTICS OF THE COMPANY 2
- ---------- ---------- --------------------------------------------- -----------
01 07 COMPANIES NOT INCLUDED IN THE CONSOLIDATED
FINANCIAL STATEMENTS 2
- ---------- ---------- --------------------------------------------- -----------
01 08 CASH DIVIDENDS 2
- ---------- ---------- --------------------------------------------- -----------
01 09 SUBSCRIBED CAPITAL AND CHANGES IN THE
CURRENT YEAR 3
- ---------- ---------- --------------------------------------------- -----------
01 10 DIRECTOR OF MARKET RELATIONS 3
- ---------- ---------- --------------------------------------------- -----------
02 01 BALANCE SHEET - ASSETS 4
- ---------- ---------- --------------------------------------------- -----------
02 02 BALANCE SHEET - LIABILITIES AND
STOCKHOLDERS' EQUITY 6
- ---------- ---------- --------------------------------------------- -----------
03 01 STATEMENT OF OPERATIONS 8
- ---------- ---------- --------------------------------------------- -----------
04 01 NOTES TO THE QUARTERLY INFORMATION 10
- ---------- ---------- --------------------------------------------- -----------
05 01 COMMENT ON THE COMPANY'S
PERFORMANCE IN THE QUARTER 15
- ---------- ---------- --------------------------------------------- -----------
06 01 CONSOLIDATED BALANCE SHEET - ASSETS 16
- ---------- ---------- --------------------------------------------- -----------
06 02 CONSOLIDATED BALANCE SHEET -
LIABILITIES AND STOCKHOLDERS' EQUITY 18
- ---------- ---------- --------------------------------------------- -----------
07 01 CONSOLIDATED STATEMENT OF OPERATIONS 20
- ---------- ---------- --------------------------------------------- -----------
08 01 COMMENT ON CONSOLIDATED PERFORMANCE
IN THE QUARTER 22
- ---------- ---------- --------------------------------------------- -----------
09 01 INVESTMENTS IN SUBSIDIARIES
AND/OR AFFILIATED COMPANIES 24
- ---------- ---------- --------------------------------------------- -----------
17 01 REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS 25
- ---------- ---------- --------------------------------------------- -----------
TEVECAP S.A.
- ---------- ---------- --------------------------------------------- -----------
18 02 COMMENT ON SUBSIDIARY/
AFFILIATED COMPANY PERFORMANCE 27/29
- ---------- ---------- --------------------------------------------- -----------
Page 30
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Constant Purchasing Power
COMMERCIAL, INDUSTRIAL AND OTHER
- --------------------------------------------------------------------------------
THE REGISTRATION WITH CVM DOES NOT IMPLY ANY EVALUATION OF THE COMPANY AND ITS
MANAGERS ARE RESPONSIBLE FOR THE VERACITY OF THE INFORMATION PROVIDED.
- --------------------------------------------------------------------------------
01.01 - IDENTIFICATION
- --------------------------------------------------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- --------------------------------------------------------------------------------
4 - NIRE - REGISTRATION NUMBER
35.3.0013516-4
- --------------------------------------------------------------------------------
01.02 - HEAD OFFICE
- ----------------------------------------------------- --------------------------
1 - FULL ADDRESS 2 - SUBURB OR DISTRICT
Av. Otaviano Alves de Lima, 7.221 Freguesia do O
- ----------------------------------------------------- --------------------------
3 - ZIP CODE 4 - MUNICIPALITY 5 - STATE
05425-902 Sao Paulo SP
- --------------- --------------- ---------------- --------------- ---------------
6 - AREA CODE 7 - TELEPHONE 8 - TELEPHONE 9 - TELEPHONE 10 - TELEX
011 3037-2010 - -
- --------------- --------------- ---------------- --------------- ---------------
11 - AREA CODE 12 - FAX 13 - FAX 14 - FAX
011 3037-2040 - -
- --------------- --------------- ---------------- --------------- ---------------
15 - E-MAIL
- ------------------------------- ---------------- --------------- ---------------
01.03 - DIRECTOR OF MARKET RELATIONS (Address for correspondence with Company)
- --------------------------------------------------------------------------------
1 - NAME
Jose Augusto Pinto Moreira
- --------------------------------------------------------------------------------
2 - FULL ADDRESS 3 - SUBURB OR DISTRICT
Av. Nacoes Unidas, 7.221 Pinheiros
- --------------------- ----------------------------------------------------------
4 - ZIP CODE 5 - MUNICIPALITY 6 - STATE
05425-902 Sao Paulo SP
- --------------- --------------- --------------- --------------- ----------------
7 - AREA CODE 8 - TELEPHONE 9 - TELEPHONE 10 - TELEPHONE 11 - TELEX
011 3037-2010 - -
- --------------- --------------- --------------- --------------- ----------------
12 - AREA CODE 13 - FAX 14 - FAX 15 - FAX
011 3037-2040 - -
- --------------------------------------------------------------------------------
16 - E-MAIL
- --------------------------------------------------------------------------------
01.04 - REFERENCE/INDEPENDENT PUBLIC ACCOUNTANT
- ----------------------------- -------------------------------------------- ------------------------------------------
CURRENT YEAR CURRENT QUARTER PRIOR QUARTER
- ----------------------------- -------------------------------------------- ------------------------------------------
1 - BEGINNING 2 - END 3 - QUARTER 4 - BEGINNING 5 - END 6 - QUARTER 7 - BEGINNING 8 -END
- ----------------- ----------- --------------- ---------------- ----------- --------------- -------------- -----------
1.1.1999 12.31.1999 2 4.1.1999 6.30.1999 1 1.1.1999 3.31.1999
- ----------------- ----------- --------------- ---------------- ----------- --------------- -------------- -----------
- ------------------------------------------------ -------------------------------
9 - NAME OF INDEPENDENT PUBLIC ACCOUNTANT 10 - CVM CODE
Arthur Andersen S/C 00283 - 6
- ------------------------------------------------ -------------------------------
11 - NAME OF RESPONSIBLE ACCOUNTANT 12 CPF - Individual Taxpayers'
Registration
Marco Antonio Brandao Simurro 755.400.708-44
- ------------------------------------------------ -------------------------------
Page 1
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Constant Purchasing Power
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- -------------- ----------------------- -----------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- -------------- ----------------------- -----------------------------------------
01.05 - COMPOSITION OF CAPITAL
- -------------------------- ----------------------- ---------------------------- -------------------------------------
Number of Shares 1 - CURRENT QUARTER 2 - PRIOR QUARTER 3 - SAME QUARTER OF THE PREVIOUS
YEAR
(Thousand) 6.30.1999 3.31.1999 6.30.1999
- -------------------------- ----------------------- ---------------------------- -------------------------------------
Paid-up Capital
- -------------------------- ----------------------- ---------------------------- -------------------------------------
1 - Common 5,302 5,302 8,277
- -------------------------- ----------------------- ---------------------------- -------------------------------------
2 - Preferred 10,604 10,604 11,067
- -------------------------- ----------------------- ---------------------------- -------------------------------------
3 - Total 15,906 15,906 19,344
- ---------------------------------------------------------------------------------------------------------------------
Treasury Stock
- -------------------------- ----------------------- ---------------------------- -------------------------------------
4 - Common 0 0 0
- -------------------------- ----------------------- ---------------------------- -------------------------------------
5 - Preferred 0 0 0
- -------------------------- ----------------------- ---------------------------- -------------------------------------
6 - Total 0 0 0
- -------------------------- ----------------------- ---------------------------- -------------------------------------
01.06 - CHARACTERISTICS OF THE COMPANY
- --------------------------------------------------------------------------------
1 - TYPE OF COMPANY
Commercial, Industrial and Other
- --------------------------------------------------------------------------------
2 - SITUATION
Operational
- --------------------------------------------------------------------------------
3 - NATURE OF CONTROLLING INTEREST
Local Private
- --------------------------------------------------------------------------------
4 - ACTIVITY CODE
1070000 - Publishing and Printing
- --------------------------------------------------------------------------------
5 - MAIN ACTIVITY
Publishing of Magazines and Periodicals
- --------------------------------------------------------------------------------
6 - TYPE OF CONSOLIDATION
Partial
- --------------------------------------------------------------------------------
7 - TYPE OF REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
Unqualified
- --------------------------------------------------------------------------------
01.07 - COMPANIES NOT INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS
- ----------- ----------------------------------------- --------------------------
1 - ITEM 2 - CNPJ - National Corporate Taxpayers' 3 - REGISTERED NAME
Registration
- ----------- ----------------------------------------- --------------------------
01 00.497.373/0001-10 Galaxy Brasil Ltda.
- ----------- ----------------------------------------- --------------------------
02 01.785.998/0001-40 TVA Banda C Ltda.
- ----------- ----------------------------------------- --------------------------
01.08 - CASH DIVIDENDS APPROVED AND/OR PAID DURING AND AFTER THE QUARTER
- ----------- ------------- --------------- -------------------- ---------------- --------------- ----------------------
1 - ITEM 2 - EVENT 3 - APPROVAL 4 - DIVIDEND 5 - BEGINNING 6 - TYPE OF 7 - EARNINGS PER
DATE OF PAYMENT SHARES SHARE
- ----------- ------------- --------------- -------------------- ---------------- --------------- ----------------------
01 ASM 5.28.1999 Interest on Capital 6.10.1999 Registered 1,0138000000
common
- ----------- ------------- --------------- -------------------- ---------------- --------------- ----------------------
02 ASM 5.28.1999 Interest on Capital 6.10.1999 Registered 1,0138000000
preferred A
- ----------- ------------- --------------- -------------------- ---------------- --------------- ----------------------
03 ASM 5.28.1999 Interest on Capital 6.10.1999 Registered 1,0138000000
preferred B
- ----------- ------------- --------------- -------------------- ---------------- --------------- ----------------------
Page 2
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Constant Purchasing Power
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- ------------- ---------------------- -------------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- ------------- ---------------------- -------------------------------------------
01.09 - SUBSCRIBED CAPITAL AND CHANGES IN THE CURRENT YEAR
- -------- ----------- --------------------- -------------------- --------------------- --------------------------- ------------------
1 - ITEM 2 - DATE OF 3 - AMOUNT OF CAPITAL 4 - AMOUNT OF CHANGE 5 - ORIGIN OF CHANGE 7 - NUMBER OF SHARES ISSUED 8 - PRICE OF SHARE
CHANGE (R$ thousand) (R$ thousand) (Thousand) UPON ISSUANCE (R$)
- -------- ----------- --------------------- -------------------- --------------------- --------------------------- ------------------
01 1.30.1999 131,703 (28,468) Partial spin- off 0 0.0000000000
- -------- ----------- --------------------- -------------------- --------------------- --------------------------- ------------------
01.10 - DIRECTOR OF MARKET RELATIONS
- ---------------------- ---------------------------------------------------------
1 - DATE 2 - SIGNATURE
9.3.1999
- ---------------------- ---------------------------------------------------------
Page 3
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Constant Purchasing Power
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- ------------- ---------------------- -------------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- ------------- ---------------------- -------------------------------------------
02.01 - BALANCE SHEET - ASSETS (in thousands of Brazilian reais)
- ------------- ------------------------------- ---------------- ----------------
1 - CODE 2 - DESCRIPTION 3 - 6.30.1999 4 - 3.31.1999
- ------------- ------------------------------- ---------------- ----------------
1 Total assets 259,509 268,556
- ------------- ------------------------------- ---------------- ----------------
1.01 Current assets 1,261 4,076
- ------------- ------------------------------- ---------------- ----------------
1.01.01 Cash and cash equivalents 0 0
- ------------- ------------------------------- ---------------- ----------------
1.01.01.01 Cash and banks 0 0
- ------------- ------------------------------- ---------------- ----------------
1.01.01.02 Short-term investments 0 0
- ------------- ------------------------------- ---------------- ----------------
1.01.02 Credits 873 880
- ------------- ------------------------------- ---------------- ----------------
1.01.02.01 Accounts receivable 873 880
- ------------- ------------------------------- ---------------- ----------------
1.01.03 Inventories 0 0
- ------------- ------------------------------- ---------------- ----------------
1.01.03.01 Raw materials 0 0
- ------------- ------------------------------- ---------------- ----------------
1.01.03.02 Work in process 0 0
- ------------- ------------------------------- ---------------- ----------------
1.01.03.03 Finished products 0 0
- ------------- ------------------------------- ---------------- ----------------
1.01.03.04 Sundry materials 0 0
- ------------- ------------------------------- ---------------- ----------------
1.01.04 Other 388 3,196
- ------------- ------------------------------- ---------------- ----------------
1.01.04.01 Advances to employees and other 0 0
- ------------- ------------------------------- ---------------- ----------------
1.01.04.03 Offsettable taxes 3880 3,196
- ------------- ------------------------------- ---------------- ----------------
1.01.04.04 Other credits 0 0
- ------------- ------------------------------- ---------------- ----------------
1.02 Noncurrent assets 187,334 190,489
- ------------- ------------------------------- ---------------- ----------------
1.02.01 Sundry credits 895 734
- ------------- ------------------------------- ---------------- ----------------
1.02.01.01 Loans to stockholders 0 0
- ------------- ------------------------------- ---------------- ----------------
1.02.01.02 Recoverable income tax 895 734
- ------------- ------------------------------- ---------------- ----------------
1.02.02 Related-party transactions 186,439 189,755
- ------------- ------------------------------- ---------------- ----------------
1.02.02.01 Affiliated companies 0 0
- ------------- ------------------------------- ---------------- ----------------
1.02.02.02 Subsidiaries 8,475 8,152
- ------------- ------------------------------- ---------------- ----------------
1.02.02.03 Other related companies 177,964 181,603
- ------------- ------------------------------- ---------------- ----------------
1.02.02.03.02 Abril Investments Corporation 173,072 176,792
- ------------- ------------------------------- ---------------- ----------------
1.02.02.03.03 Televisao Show Time Ltda. 3,001 3,024
- ------------- ------------------------------- ---------------- ----------------
1.02.02.03.04 Other 1,891 1,787
- ------------- ------------------------------- ---------------- ----------------
1.02.03 Other 0 0
- ------------- ------------------------------- ---------------- ----------------
1.02.03.01 Legal and compulsory deposits 0 0
- ------------- ------------------------------- ---------------- ----------------
1.03 Permanent assets 70,914 73,991
- ------------- ------------------------------- ---------------- ----------------
1.03.01 Investments 70,914 73,991
- ------------- ------------------------------- ---------------- ----------------
1.03.01.01 In affiliated companies 0 0
- ------------- ------------------------------- ---------------- ----------------
1.03.01.02 In subsidiaries 70,863 73,940
- ------------- ------------------------------- ---------------- ----------------
1.03.01.02.03 Abril Investments Corporation 0 0
- ------------- ------------------------------- ---------------- ----------------
1.03.01.02.05 Abril Video da Amazonia S.A. 0 0
- ------------- ------------------------------- ---------------- ----------------
1.03.01.02.06 Dinap S.A. Distrib.
Nac. de Publicacoes 0 0
- ------------- ------------------------------- ---------------- ----------------
1.03.01.02.07 Editora Novo Continente S.A. 0 0
- ------------- ------------------------------- ---------------- ----------------
1.03.01.02.08 Listel Listas Telefonicas S.A. 0 0
- ------------- ------------------------------- ---------------- ----------------
1.03.01.02.10 Reasa Representacao
de Assinaturas S.A. 0 0
- ------------- ------------------------------- ---------------- ----------------
1.03.01.02.11 Tevecap S.A. 58,262 60,534
- ------------- ------------------------------- ---------------- ----------------
1.03.01.02.12 TVA Continental S.A. 833 758
- ------------- ------------------------------- ---------------- ----------------
Page 4
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Constant Purchasing Power
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- ------------- ---------------------- -------------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- ------------- ---------------------- -------------------------------------------
02.01 - BALANCE SHEET - ASSETS (in thousands of Brazilian reais)
- ------------- --------------------------------- ---------------- ---------------
1 - CODE 2 - DESCRIPTION 3 - 6.30.1999 4 - 3.31.1999
- ------------- --------------------------------- ---------------- ---------------
1.03.01.02.13 TVA Sul Participacoes S.A 11,768 12,648
- ------------- --------------------------------- ---------------- ---------------
1.03.01.02.14 Abril Musiclub Ltda. 0 0
- ------------- --------------------------------- ---------------- ---------------
1.03.01.02.15 Other 0 0
- ------------- --------------------------------- ---------------- ---------------
1.03.01.03 Other investments 51 51
- ------------- --------------------------------- ---------------- ---------------
1.03.01.03.01 Marketable securities 0 0
- ------------- --------------------------------- ---------------- ---------------
1.03.01.03.02 FISET 0 0
- ------------- --------------------------------- ---------------- ---------------
1.03.01.03.03 FINAM 51 51
- ------------- --------------------------------- ---------------- ---------------
1.03.01.03.04 Audiovisual incentive investments 0 0
- ------------- --------------------------------- ---------------- ---------------
1.03.02 Property, plant and equipment 0 0
- ------------- --------------------------------- ---------------- ---------------
1.03.02.01 Land 0 0
- ------------- --------------------------------- ---------------- ---------------
1.03.02.02 Buildings 0 0
- ------------- --------------------------------- ---------------- ---------------
1.03.02.03 Installations 0 0
- ------------- --------------------------------- ---------------- ---------------
1.03.02.04 Machinery and equipment 0 0
- ------------- --------------------------------- ---------------- ---------------
1.03.02.05 Furniture and fixtures 0 0
- ------------- --------------------------------- ---------------- ---------------
1.03.02.06 Vehicles 0 0
- ------------- --------------------------------- ---------------- ---------------
1.03.02.07 EDP equipment 0 0
- ------------- --------------------------------- ---------------- ---------------
1.03.02.08 Construction in progress 0 0
- ------------- --------------------------------- ---------------- ---------------
1.03.02.09 Other construction 0 0
- ------------- --------------------------------- ---------------- ---------------
1.03.03 Deferred charges 0 0
- ------------- --------------------------------- ---------------- ---------------
1.03.03.01 Restated cost 0 0
- ------------- --------------------------------- ---------------- ---------------
Page 5
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Constant Purchasing Power
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- -------------- ---------------------- ------------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- -------------- ---------------------- ------------------------------------------
02.02 - BALANCE SHEET - LIABILITIES AND STOCKHOLDERS' EQUITY
(in thousands of Brazilian reais)
- ---------- --------------------------------- ---------------- ----------------
1 - CODE 2 - DESCRIPTION 3 - 6.30.1999 4 - 3.31.1999
- ---------- --------------------------------- ---------------- ----------------
2 Total liabilities 259,509 268,556
- ---------- --------------------------------- ---------------- ----------------
2.01 Current liabilities 3,834 28,779
- ---------- --------------------------------- ---------------- ----------------
2.01.01 Loans and financing 3,834 9,014
- ---------- --------------------------------- ---------------- ----------------
2.01.01.01 Financing 3,834 9,014
- ---------- --------------------------------- ---------------- ----------------
2.01.02 Debentures 0 0
- ---------- --------------------------------- ---------------- ----------------
2.01.03 Trade accounts payable 0 0
- ---------- --------------------------------- ---------------- ----------------
2.01.04 Taxes and contributions payable 0 0
- ---------- --------------------------------- ---------------- ----------------
2.01.04.01 Income and social contribution
taxes 0 0
- ---------- --------------------------------- ---------------- ----------------
2.01.04.02 Other taxes and contributions
payable 0 0
- ---------- --------------------------------- ---------------- ----------------
2.01.05 Dividends payable 0 19,765
- ---------- --------------------------------- ---------------- ----------------
2.01.06 Accrued liabilities 0 0
- ---------- --------------------------------- ---------------- ----------------
2.01.06.01 Interest on capital 0 0
- ---------- --------------------------------- ---------------- ----------------
2.01.07 Related-party transactions 0 0
- ---------- --------------------------------- ---------------- ----------------
2.01.08 Other 0 0
- ---------- --------------------------------- ---------------- ----------------
2.01.08.01 Salaries and payroll taxes 0 0
- ---------- --------------------------------- ---------------- ----------------
2.01.08.02 Advances received 0 0
- ---------- --------------------------------- ---------------- ----------------
2.01.08.03 Royalties payable 0 0
- ---------- --------------------------------- ---------------- ----------------
2.01.08.04 Magazine subscriptions 0 0
- ---------- --------------------------------- ---------------- ----------------
2.01.08.05 Other accounts payable 0 0
- ---------- --------------------------------- ---------------- ----------------
2.02 Long-term liabilities 356,651 282,405
- ---------- --------------------------------- ---------------- ----------------
2.02.01 Loans and financing 176,950 173,540
- ---------- --------------------------------- ---------------- ----------------
2.02.01.01 Financial institutions 176,950 173,540
- ---------- --------------------------------- ---------------- ----------------
2.02.02 Debentures 0 0
- ---------- --------------------------------- ---------------- ----------------
2.02.03 Accrued liabilities 0 0
- ---------- --------------------------------- ---------------- ----------------
2.02.04 Related-party transactions 32,430 16,553
- ---------- --------------------------------- ---------------- ----------------
2.02.04.01 A.R. & T. Ltda. 0 0
- ---------- --------------------------------- ---------------- ----------------
2.02.04.02 Abril Video da Amazonia S.A. 0 0
- ---------- --------------------------------- ---------------- ----------------
2.02.04.03 Editora Caras S.A. 0 0
- ---------- --------------------------------- ---------------- ----------------
2.02.04.04 Editora Novo Continente S.A. 0 0
- ---------- --------------------------------- ---------------- ----------------
2.02.04.05 Listel - Listas Telefonicas S.A. 0 0
- ---------- --------------------------------- ---------------- ----------------
2.02.04.06 TV Cambara Ltda. 1,115 1,216
- ---------- --------------------------------- ---------------- ----------------
2.02.04.07 TV Cerejeira Ltda. 1,517 1,653
- ---------- --------------------------------- ---------------- ----------------
2.02.04.08 TV Eucalipto Ltda. 0 0
- ---------- --------------------------------- ---------------- ----------------
2.02.04.09 TV Quaresmeira Ltda. 1,569 1,708
- ---------- --------------------------------- ---------------- ----------------
2.02.04.10 TV Jacaranda Ltda. 0 0
- ---------- --------------------------------- ---------------- ----------------
2.02.04.11 TV Jatoba Ltda. 1,648 1,716
- ---------- --------------------------------- ---------------- ----------------
2.02.04.12 TV Manaca Ltda. 0 0
- ---------- --------------------------------- ---------------- ----------------
2.02.04.13 TV Mogno Ltda. 1,585 1,725
- ---------- --------------------------------- ---------------- ----------------
2.02.04.14 TV Sequoia Ltda. 1,538 1,678
- ---------- --------------------------------- ---------------- ----------------
2.02.04.15 TV Tipuana Ltda. 1,552 1,689
- ---------- --------------------------------- ---------------- ----------------
2.02.04.16 Other 0 0
- ---------- --------------------------------- ---------------- ----------------
Page 6
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Constant Purchasing Power
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- -------------- ----------------------- -----------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- -------------- ----------------------- -----------------------------------------
06.02 - CONSOLIDATED BALANCE SHEET - LIABILITIES AND STOCKHOLDERS' EQUITY
(in thousands of Brazilian reais)
- ------------- --------------------------------- --------------- ---------------
1 - CODE 2 - DESCRIPTION 3 - 6.30.1999 4 - 3.31.1999
- ------------- --------------------------------- --------------- ---------------
2.02.04.17 Loans from stockholders 0 0
- ------------- --------------------------------- --------------- ---------------
2.02.04.18 Editora Abril S.A. 21,906 5,168
- ------------- --------------------------------- --------------- ---------------
2.02.05 Other 147,271 92,312
- ------------- --------------------------------- --------------- ---------------
2.02.03.01 Taxes and contributions payable 953 415
- ------------- --------------------------------- --------------- ---------------
2.02.03.02 Provision for losses on
subsidiaries' and 134,058 81,672
affiliated companies' operations
- ------------- --------------------------------- --------------- ---------------
2.02.03.03 Deferred income tax 12,260 10,225
- ------------- --------------------------------- --------------- ---------------
2.03 Deferred income 0 0
- ------------- --------------------------------- --------------- ---------------
2.05 Stockholders' equity (100,976) (42,628)
- ------------- --------------------------------- --------------- ---------------
2.05.01 Paid-in capital 170,051 170,051
- ------------- --------------------------------- --------------- ---------------
2.05.01.01 Capital 170,051 170,051
- ------------- --------------------------------- --------------- ---------------
2.05.02 Capital reserves 31,320 31,320
- ------------- --------------------------------- --------------- ---------------
2.05.02.01 Investment grants 31,320 31,320
- ------------- --------------------------------- --------------- ---------------
2.05.03 Revaluation reserves 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.03.01 Own assets 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.03.02 Subsidiaries/Affiliated
companies 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.04 Profit reserves 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.04.01 Legal 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.04.02 Statutory 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.04.03 For contingencies 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.04.04 Unrealized profits 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.04.05 Retention of profits 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.04.05.01 Retention of profits 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.04.067 Special for undistributed
dividends 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.04.07 Other profit reserves 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.05 Retained earnings/accumulated
deficit (302,347) (243,999)
- ------------- --------------------------------- --------------- ---------------
Page 7
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Constant Purchasing Power
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- -------------- ----------------------- -----------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
01437-0 ABRIL S.A. Registration
44.597.052/0001-62
- -------------- ----------------------- -----------------------------------------
03.01 - STATEMENT OF OPERATIONS (in thousands of Brazilian reais)
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
1 - CODE 2 - DESCRIPTION 3 - 4.1.1999 to 4 - 1.1.1999 to 5 - 4.1.1998 to 6 - 1.1.1998 to
6.30.1999 6.30.1999 6.30.1998 6.30.1998
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.01 Gross sales of products and services 0 0 274,562 466,465
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.02 Gross sales deductions (472) (953) (7,694) (12,598)
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.03 Net sales of products and services (472) (953) 266,868 453,867
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.04 Cost of products and services sold (20) 0 (84,280) (148,055)
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.05 Gross profit (492) (953) 182,588 305,812
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.06 Operating income/expenses (55,980) (210,441) (196,184) (356,926)
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.06.01 Selling 0 0 (103,999) (189,642)
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.06.02 General and administrative (47) (47) (52,952) (98,455)
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.06.03 Financial (471) (1,718) (9,010) (7,661)
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.06.03.01 Financial income 6,835 53,355 10,649 25,762
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.06.03.02 Financial expenses (7,306) (55,073) (19,659) (33,423)
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.06.04 Other operating income 0 0 0 0
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.06.04.01 Exchange variations 0 0 0 0
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.06.04.02 Provision for losses on
subsidiaries' operations 0 0 0 0
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.06.04.03 Other income 0 0 0 0
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.06.05 Other operating expenses (55,381) (140,258) (7,664) (13,849)
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.06.05.01 Exchange variations 0 0 0 0
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.06.05.02 Provision for losses on
subsidiaries' operations (52,386) (134,058) (1,046) (3,387)
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.06.05.03 Goodwill amortization (2,995) (6,200) (6,594) (10,413)
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.06.05.04 Other expenses 0 0 (24) (49)
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.06.06 Equity in results of subsidiaries
and affiliated companies (81) (68,418) (22,559) (47,319)
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.07 Operating expenses (56,472) (211,394) (13,596) (51,114)
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.08 Nonoperating income 0 0 11,249 11,904
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.08.01 Income 0 0 17,209 27,938
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.08.02 Expenses 0 0 (5,960) (16,034)
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.09 Loss before taxes/employee
profit sharing (56,472) (211,394) (2,347) (39,210)
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
3.10 Provision for income and
social contribution taxes 0 0 0 0
- -------------- ------------------------------------ ------------------ ---------------- ----------------- ----------------
Page 8
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Constant Purchasing Power
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- -------------- ------------------------ ----------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
01437-0 ABRIL S.A. Registration
44.597.052/0001-62
- -------------- ------------------------ ----------------------------------------
03.01 - STATEMENT OF OPERATIONS (in thousands of Brazilian reais)
- ----------- -------------------------------- ------------------ ------------------ ----------------- -----------------
1 - CODE 2 - DESCRIPTION 3 - 4.1.1999 to 4 - 1.1.1999 to 5 - 4.1.1998 to 6 - 1.1.1998 to
6.30.1999 6.30.1999 6.30.1998 6.30.1998
- ----------- -------------------------------- ------------------ ------------------ ----------------- -----------------
3.11 Deferred income tax (1,766) (10,215) (170) 3,132
- ----------- -------------------------------- ------------------ ------------------ ----------------- -----------------
3.12 Employee profit sharing/
statutory contributions 0 0 (3,315) (7,312)
- ----------- -------------------------------- ------------------ ------------------ ----------------- -----------------
3.12.01 Profit sharing 0 0 (3,315) (7,312)
- ----------- -------------------------------- ------------------ ------------------ ----------------- -----------------
3.12.01.01 Employee profit sharing 0 0 (3,315) (7,312)
- ----------- -------------------------------- ------------------ ------------------ ----------------- -----------------
3.12.02 Contributions 0 0 0 0
- ----------- -------------------------------- ------------------ ------------------ ----------------- -----------------
3.13 Reversal of interest on capital 0 0 0 0
- ----------- -------------------------------- ------------------ ------------------ ----------------- -----------------
3.15 Net income/loss for the period (58,238) (221,609) (5,832) (43,390)
- ----------- -------------------------------- ------------------ ------------------ ----------------- -----------------
NUMBER OF SHARES,
FORMER TREASURY STOCK (thousand) 15,906 15,906 19,344 19,344
- ----------- -------------------------------- ------------------ ------------------ ----------------- -----------------
EARNINGS PER SHARE 0 0 0 0
- ----------- -------------------------------- ------------------ ------------------ ----------------- -----------------
LOSS PER SHARE (3.66139) (13.93242) (0.30149) (2.24307)
- ----------- -------------------------------- ------------------ ------------------ ----------------- -----------------
Page 9
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Constant Purchasing Power
COMMERCIAL, INDUSTRIAL AND OTHER
- --------------------------------------------------------------------------------
01437-0 ABRIL S.A. 44.597.052/0001-62
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
04.01 - NOTES TO THE QUARTERLY INFORMATION
1 - INTRODUCTION
The supplementary financial statements, in constant purchasing power currency,
for the three-month period ended June 30, 1999, were prepared in accordance with
CVM's Guidance Opinion No. 29 of April 18, 1996, Instruction CVM No. 191 of July
15, 1992 and Resolution No. 170 of July 12, 1994.
As required by CVM's Guidance Opinion No. 29 of April 18, 1996, the financial
statements as of June 30, 1999 were monetarily restated based on the monthly
variation in the General Market Price Index (IGP-M) published by the Getulio
Vargas Foundation. The Company opted to use this index as recommended by the
Brazilian Association of Listed Companies (ABRASCA) to maintain consistency with
those required by CVM Circular No. 03/95 of September 1, 1995.
The accounting practices and criteria were applied consistently with those
adopted in preparing the financial statements of Abril S.A. for the previous
fiscal year.
2 - RECONCILIATION BETWEEN NET LOSS AND STOCKHOLDERS' EQUITY AS
PER CORPORATE LAW AND CONSTANT PURCHASING POWER CURRENCY
COMPANY CONSOLIDATED
------- ------------
Net Stockholders' Net Stockholders'
loss equity loss equity
---- ------ ---- ------
Balances as per corporate law (247,357) (191,690) (247,357) (191,690)
Gains on monetary items 8,971 (20,436) 51,010 50,737
Gains on stockholders' equity - 69,476 - 69,476
Gains and losses on deferred expenses - - 493 (5,830)
Restatement of inventories - - (829) 1,031
Goodwill adjustments in subsidiaries (165) (2,849) 100 (6,035)
Equity in results of subsidiaries
and affiliated companies (60,186) (38,944) (7,953) -
Provision for losses on subsidiaries 88,238 88,238 15,840 22,971
Gains (losses) on subsidiaries - 7,489 - 7,488
Income tax on discount to present value
(stockholders' equity) - (1,150) - (1,150)
Deferred income tax, net (11,110) (11,110) (11,110) (11,110)
Minority interest - - (21,803) (36,864)
---------- --------- ---------- ---------
Balances as per constant purchasing power
currency (221,609) (100,976) (221,609) (100,976)
========== ========= ========== =========
Page 10
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Constant Purchasing Power
COMMERCIAL, INDUSTRIAL AND OTHER
- --------------------------------------------------------------------------------
01437-0 ABRIL S.A. 44.597.052/0001-62
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
04.01 - NOTES TO THE QUARTERLY INFORMATION
3 - INCOME TAX
The amounts charged and credited to the Provision for Income Tax account for the
three-month period ended June 30, 1999 are as follows:
COMPANY CONSOLIDATED
------- ------------
Provision for deferred income tax asset (tax loss) 895 895
Income tax on constant purchasing power
adjustments (11,110) (11,110)
-------- --------
Income tax charged to result (10,215) (10,215)
======== ========
Page 11
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Constant Purchasing Power
COMMERCIAL, INDUSTRIAL AND OTHER
- --------------------------------------------------------------------------------
01437-0 ABRIL S.A. 44.597.052/0001-62
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
05.01 - COMMENT ON THE COMPANY'S PERFORMANCE IN THE QUARTER
See report prepared in accordance with Corporate Law.
Page 12
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Constant Purchasing Power
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- --------------- ---------------------- -----------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- --------------- ---------------------- -----------------------------------------
06.01 - CONSOLIDATED BALANCE SHEET - ASSETS (in thousands of Brazilian reais)
- -------------- ------------------------------- ---------------- ----------------
1 - CODE 2 - DESCRIPTION 3 - 6.30.1999 4 - 3.31.1999
- -------------- ------------------------------- ---------------- ----------------
1 Total assets 984,260 998,922
- -------------- ------------------------------- ---------------- ----------------
1.01 Current assets 66,409 62,181
- -------------- ------------------------------- ---------------- ----------------
1.01.01 Cash and cash equivalents 1,836 2,314
- -------------- ------------------------------- ---------------- ----------------
1.01.01.01 Cash and banks 1,834 2,312
- -------------- ------------------------------- ---------------- ----------------
1.01.01.02 Short-term investments 2 2
- -------------- ------------------------------- ---------------- ----------------
1.01.02 Credits 24,293 17,902
- -------------- ------------------------------- ---------------- ----------------
1.01.02.01 Accounts receivable 24,293 17,902
- -------------- ------------------------------- ---------------- ----------------
1.01.03 Inventories 21,798 25,761
- -------------- ------------------------------- ---------------- ----------------
1.01.03.01 Raw materials 15,399 16,067
- -------------- ------------------------------- ---------------- ----------------
1.01.03.02 Work in process 0 0
- -------------- ------------------------------- ---------------- ----------------
1.01.03.03 Finished products 0 0
- -------------- ------------------------------- ---------------- ----------------
1.01.03.04 Sundry materials 6,399 9,694
- -------------- ------------------------------- ---------------- ----------------
1.01.04 Other 18,482 16,204
- -------------- ------------------------------- ---------------- ----------------
1.01.04.01 Advances to employees and other 16,665 11,689
- -------------- ------------------------------- ---------------- ----------------
1.01.04.03 Offsettable taxes 1,817 4,515
- -------------- ------------------------------- ---------------- ----------------
1.01.04.04 Other credits 0 0
- -------------- ------------------------------- ---------------- ----------------
1.02 Noncurrent assets 250,219 257,764
- -------------- ------------------------------- ---------------- ----------------
1.02.01 Sundry credits 895 734
- -------------- ------------------------------- ---------------- ----------------
1.02.01.01 Loans to stockholders 0 0
- -------------- ------------------------------- ---------------- ----------------
1.02.01.02 Recoverable income tax 895 734
- -------------- ------------------------------- ---------------- ----------------
1.02.01.03 Tax incentives and other 0 0
- -------------- ------------------------------- ---------------- ----------------
1.02.02 Related-party transactions 240,072 246,468
- -------------- ------------------------------- ---------------- ----------------
1.02.02.01 Affiliated companies 0 0
- -------------- ------------------------------- ---------------- ----------------
1.02.02.02 Subsidiaries 0 0
- -------------- ------------------------------- ---------------- ----------------
1.02.02.03 Other related companies 240,072 246,468
- -------------- ------------------------------- ---------------- ----------------
1.02.02.03.01 TVA Radioenlaces Ltda. 26,102 26,305
- -------------- ------------------------------- ---------------- ----------------
1.02.02.03.02 Canbras TVA Cabo Ltda. 10,336 9,848
- -------------- ------------------------------- ---------------- ----------------
1.02.02.03.03 HBO Partners 0 0
- -------------- ------------------------------- ---------------- ----------------
1.02.02.03.04 Prize Investments Limited 0 0
- -------------- ------------------------------- ---------------- ----------------
1.02.02.03.05 TV Manaca Ltda. 447 415
- -------------- ------------------------------- ---------------- ----------------
1.02.02.03.06 Televisao Show Time Ltda. 3,001 3,024
- -------------- ------------------------------- ---------------- ----------------
1.02.02.03.07 California Broadcast Center 7,636 8,002
- -------------- ------------------------------- ---------------- ----------------
1.02.02.03.08 Canbras Participacoes Ltda. 311 313
- -------------- ------------------------------- ---------------- ----------------
1.02.02.03.09 IHK S.A. 0 0
- -------------- ------------------------------- ---------------- ----------------
1.02.02.03.10 MTV Brasil Ltda. 0 0
- -------------- ------------------------------- ---------------- ----------------
1.02.02.03.11 SCP Elle 0 0
- -------------- ------------------------------- ---------------- ----------------
1.02.02.03.12 Abril Musiclub Ltda. 0 0
- -------------- ------------------------------- ---------------- ----------------
1.02.02.03.13 Associacao Abril de Beneficios 0 0
- -------------- ------------------------------- ---------------- ----------------
1.02.02.03.14 Parana Participacoes S/C Ltda. 0 0
- -------------- ------------------------------- ---------------- ----------------
1.02.02.03.15 TVA Finco Ltd. 15,932 16,056
- -------------- ------------------------------- ---------------- ----------------
1.02.02.03.16 Abril Investments Corporation 173,072 176,792
- -------------- ------------------------------- ---------------- ----------------
Page 13
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Constant Purchasing Power
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- -------------- ------------------------ ----------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- -------------- ------------------------ ----------------------------------------
06.01 - CONSOLIDATED BALANCE SHEET - ASSETS (in thousands of Brazilian reais)
- -------------- ----------------------------------- -------------- --------------
1 - CODE 2 - DESCRIPTION 3 - 6.30.1999 4 - 3.31.1999
- -------------- ----------------------------------- -------------- --------------
1.02.02.03.17 TVA Banda C Ltda. 0 2,535
- -------------- ----------------------------------- -------------- --------------
1.02.02.03.18 Other 3,235 3,178
- -------------- ----------------------------------- -------------- --------------
1.02.03 Other 9,252 10,562
- -------------- ----------------------------------- -------------- --------------
1.02.03.01 Legal and compulsory deposits 3,951 3,002
- -------------- ----------------------------------- -------------- --------------
1.02.03.02 Tax incentives and other 5,301 7,560
- -------------- ----------------------------------- -------------- --------------
1.02.03.03 Prepaid expenses 0 0
- -------------- ----------------------------------- -------------- --------------
1.03 Permanent assets 667,632 678,977
- -------------- ----------------------------------- -------------- --------------
1.03.01 Investments 176,798 181,392
- -------------- ----------------------------------- -------------- --------------
1.03.01.01 In affiliated companies 0 0
- -------------- ----------------------------------- -------------- --------------
1.03.01.02 In subsidiaries 107,228 111,229
- -------------- ----------------------------------- -------------- --------------
1.03.01.02.01 Tevecap S.A. 58,262 60,533
- -------------- ----------------------------------- -------------- --------------
1.03.01.02.02 TVA Sul Participacoes S.A 10,146 10,870
- -------------- ----------------------------------- -------------- --------------
1.03.01.02.03 TVA Sistema de Televisao S.A. 21,354 21,730
- -------------- ----------------------------------- -------------- --------------
1.03.01.02.04 Other 17,466 18,096
- -------------- ----------------------------------- -------------- --------------
1.03.01.03 Other investments 69,570 70,163
- -------------- ----------------------------------- -------------- --------------
1.03.01.03.01 Marketable securities 0 0
- -------------- ----------------------------------- -------------- --------------
1.03.01.03.02 FISET 0 0
- -------------- ----------------------------------- -------------- --------------
1.03.01.03.03 FINAM 51 51
- -------------- ----------------------------------- -------------- --------------
1.03.01.03.04 Loans - Eletrobras 0 0
- -------------- ----------------------------------- -------------- --------------
1.03.01.03.05 Galaxy Latin America 53,626 54,464
- -------------- ----------------------------------- -------------- --------------
1.03.01.03.06 ITSA Intercontinental Telecom Ltda. 8,686 8,822
- -------------- ----------------------------------- -------------- --------------
1.03.01.03.07 Other 7,207 6,826
- -------------- ----------------------------------- -------------- --------------
1.03.02 Property, plant and equipment 377,028 381,502
- -------------- ----------------------------------- -------------- --------------
1.03.02.01 Land 2,149 2,151
- -------------- ----------------------------------- -------------- --------------
1.03.02.02 Buildings 2,351 2,391
- -------------- ----------------------------------- -------------- --------------
1.03.02.03 Installations 1,848 1,919
- -------------- ----------------------------------- -------------- --------------
1.03.02.04 Industrial machinery and equipment 1,602 0
- -------------- ----------------------------------- -------------- --------------
1.03.02.05 Television equipment 248,851 251,973
- -------------- ----------------------------------- -------------- --------------
1.03.02.06 Furniture and fixtures 1,881 1,661
- -------------- ----------------------------------- -------------- --------------
1.03.02.07 Vehicles 0 2,013
- -------------- ----------------------------------- -------------- --------------
1.03.02.08 EDP equipment 8,910 9,662
- -------------- ----------------------------------- -------------- --------------
1.03.02.09 Construction in progress 3,580 3,835
- -------------- ----------------------------------- -------------- --------------
1.03.02.10 Cable installations 100,262 100,149
- -------------- ----------------------------------- -------------- --------------
1.03.02.11 Other construction 5,594 5,748
- -------------- ----------------------------------- -------------- --------------
1.03.03 Deferred charges 113,806 116,083
- -------------- ----------------------------------- -------------- --------------
1.03.03.01 Restated cost 113,806 116,083
- -------------- ----------------------------------- -------------- --------------
Page 14
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Constant Purchasing Power
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- ------------- ---------------------- -------------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- ------------- ---------------------- -------------------------------------------
06.02 - CONSOLIDATED BALANCE SHEET - LIABILITIES AND STOCKHOLDERS' EQUITY (in
thousands of Brazilian reais)
- ----------- ------------------------------------- --------------- --------------
1 - CODE 2 - DESCRIPTION 3 - 6.30.1999 4 - 3.31.1999
- ----------- ------------------------------------- --------------- --------------
2 Total liabilities 984,260 998,922
- ----------- ------------------------------------- --------------- --------------
2.01 Current liabilities 131,176 176,675
- ----------- ------------------------------------- --------------- --------------
2.01.01 Loans and financing 35,312 67,220
- ----------- ------------------------------------- --------------- --------------
2.01.02 Debentures 0 0
- ----------- ------------------------------------- --------------- --------------
2.01.03 Trade accounts payable 46,613 56,996
- ----------- ------------------------------------- --------------- --------------
2.01.04 Taxes and contributions payable 30,459 20,450
- ----------- ------------------------------------- --------------- --------------
2.01.04.01 Income and social contribution taxes 37 86
- ----------- ------------------------------------- --------------- --------------
2.01.04.02 Other taxes and contributions payable 30,422 20,364
- ----------- ------------------------------------- --------------- --------------
2.01.05 Dividends payable 0 0
- ----------- ------------------------------------- --------------- --------------
2.01.06 Accrued liabilities 0 19,765
- ----------- ------------------------------------- --------------- --------------
2.01.06.01 Dividends/interest on capital payable 0 19,765
- ----------- ------------------------------------- --------------- --------------
2.01.07 Related-party transactions 0 0
- ----------- ------------------------------------- --------------- --------------
2.01.08 Other 18,792 12,244
- ----------- ------------------------------------- --------------- --------------
2.01.08.01 Salaries, profit sharing
and payroll taxes 4,800 5,478
- ----------- ------------------------------------- --------------- --------------
2.01.08.02 Advances received 1,810 2,065
- ----------- ------------------------------------- --------------- --------------
2.01.08.03 Royalties and copyrights payable 0 0
- ----------- ------------------------------------- --------------- --------------
2.01.08.04 Other accounts payable 6,806 4,701
- ----------- ------------------------------------- --------------- --------------
2.01.08.05 Advance received 5,376 0
- ----------- ------------------------------------- --------------- --------------
2.02 Long-term liabilities 1,039,564 918,457
- ----------- ------------------------------------- --------------- --------------
2.02.01 Loans and financing 640,360 628,332
- ----------- ------------------------------------- --------------- --------------
2.02.02 Debentures 0 0
- ----------- ------------------------------------- --------------- --------------
2.02.03 Accrued liabilities 0 0
- ----------- ------------------------------------- --------------- --------------
2.02.04 Related-party transactions 242,435 170,598
- ----------- ------------------------------------- --------------- --------------
2.02.04.01 Other 0 0
- ----------- ------------------------------------- --------------- --------------
2.02.04.02 Galaxy do Brasik Ltda. 6,389 0
- ----------- ------------------------------------- --------------- --------------
2.02.04.03 TV Eucalipto Ltda. 0 0
- ----------- ------------------------------------- --------------- --------------
2.02.04.04 TV Cambara Ltda. 1,115 1,216
- ----------- ------------------------------------- --------------- --------------
2.02.04.05 TV Cerejeira Ltda. 1,517 1,653
- ----------- ------------------------------------- --------------- --------------
2.02.04.06 TV Quaresmeira Ltda. 1,569 1,708
- ----------- ------------------------------------- --------------- --------------
2.02.04.07 TV Jacaranda Ltda. 0 0
- ----------- ------------------------------------- --------------- --------------
2.02.04.08 TV Jatoba Ltda. 1,648 1,716
- ----------- ------------------------------------- --------------- --------------
2.02.04.09 TV Manaca Ltda. 0 0
- ----------- ------------------------------------- --------------- --------------
2.02.04.10 TV Mogno Ltda. 1,585 1,725
- ----------- ------------------------------------- --------------- --------------
2.02.04.11 TV Sequoia Ltda. 1,538 1,678
- ----------- ------------------------------------- --------------- --------------
2.02.04.12 TV Tipuana Ltda. 1,551 1,688
- ----------- ------------------------------------- --------------- --------------
2.02.04.13 Canbras Communication Corporation 0 0
- ----------- ------------------------------------- --------------- --------------
2.02.04.14 Gracia Consultoria e
Investimentos, Lda 0 0
- ----------- ------------------------------------- --------------- --------------
2.02.04.15 Editora Abril S.A. 221,840 155,827
- ----------- ------------------------------------- --------------- --------------
2.02.04.16 TVA Network Participacoes S.A. 3,683 3,387
- ----------- ------------------------------------- --------------- --------------
2.02.05 Other 156,769 119,527
- ----------- ------------------------------------- --------------- --------------
2.02.05.01 Loans from stockholders 0 0
- ----------- ------------------------------------- --------------- --------------
Page 15
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Constant Purchasing Power
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- -------------- ---------------------- ------------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- -------------- ---------------------- ------------------------------------------
06.02 - CONSOLIDATED BALANCE SHEET - LIABILITIES AND STOCKHOLDERS' EQUITY (in
thousands of Brazilian reais)
- ------------- --------------------------------- --------------- ---------------
1 - CODE 2 - DESCRIPTION 3 - 6.30.1999 4 - 3.31.1999
- ------------- --------------------------------- --------------- ---------------
2.02.05.02 Taxes and contributions payable 2,176 1,644
- ------------- --------------------------------- --------------- ---------------
2.02.05.03 Deferred income tax 12,260 10,225
- ------------- --------------------------------- --------------- ---------------
2.02.05.04 Other 8,337 8,001
- ------------- --------------------------------- --------------- ---------------
2.02.05.05 Provision for losses on
subsidiaries' and affiliated
companies' operations 133,996 99,657
- ------------- --------------------------------- --------------- ---------------
2.03 Deferred income 0
- ------------- --------------------------------- --------------- ---------------
2.04 Minority interest (85,504) (53,582)
- ------------- --------------------------------- --------------- ---------------
2.05 Stockholders' equity (100,976) (42,628)
- ------------- --------------------------------- --------------- ---------------
2.05.01 Paid-in capital 170,051 170,051
- ------------- --------------------------------- --------------- ---------------
2.05.02 Capital reserves 31,320 31,320
- ------------- --------------------------------- --------------- ---------------
2.05.03 Revaluation reserves 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.03.01 Own assets 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.03.02 Subsidiaries/Affiliated companies 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.04 Profit reserves 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.04.01 Legal 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.04.02 Statutory 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.04.03 For contingencies 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.04.04 Unrealized profits 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.04.05 Retention of profits 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.04.05.01 Retention of profits 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.04.06 Special for undistributed
dividends 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.04.07 Other profit reserves 0 0
- ------------- --------------------------------- --------------- ---------------
2.05.05 Retained earnings/
accumulated deficit (302,347) (243,999)
- ------------- --------------------------------- --------------- ---------------
Page 16
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Constant Purchasing Power
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- -------------- ---------------------- ------------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
01437-0 ABRIL S.A. Registration
44.597.052/0001-62
- -------------- ---------------------- ------------------------------------------
07.01 - CONSOLIDATED STATEMENT OF OPERATIONS (in thousands of Brazilian reais)
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
1 - CODE 2 - DESCRIPTION 3 - 4.1.1999 to 4 - 1.1.1999 to 5 - 4.1.1998 to 6 - 1.1.1998 to
6.30.1999 6.30.1999 6.30.1998 6.30.1998
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.01 Gross sales of products and services 60,028 118,290 534,760 956,082
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.02 Gross sales deductions (5,797) (9,301) (22,278) (39,586)
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.03 Net sales of products and services 54,231 108,989 512,482 916,496
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.04 Cost of products and services sold (47,731) (98,323) (241,872) (453,253)
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.05 Gross profit 6,500 10,666 270,610 463,243
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.06 Operating income/expenses (94,583) (344,391) (292,516) (541,454)
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.06.01 Selling (3,865) (6,671) (160,380) (303,663)
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.06.02 General and administrative (10,285) (20,839) (96,119) (180,588)
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.06.03 Financial (41,134) (194,201) (27,964) (44,042)
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.06.03.01 Financial income 9,166 61,617 16,658 41,996
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.06.03.02 Financial expenses (50,300) (255,818) (44,622) (86,038)
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.06.04 Other operating income 0 0 1,932 3,577
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.06.04.03 Other income 0 0 1,932 3,577
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.06.05 Other operating expenses (39,299) (122,680) (9,282) (15,516)
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.06.05.01 Exchange variations 0 0 0
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.06.05.02 Provision for losses on
subsidiaries' operations (34,939) (113,752) 0 0
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.06.05.03 Goodwill amortization (4,360) (8,928) (9,237) (15,447)
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.06.05.04 Other expenses 0 0 (45) (69)
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.06.06 Equity in results of
subsidiaries and affiliated 0 0 (703) (1,222)
companies
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.07 Operating expenses (88,083) (333,725) (21,906) (78,211)
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.08 Nonoperating expense (income) (313) (1,282) 10,781 11,107
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.08.01 Income 0 0 17,307 31,455
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.08.02 Expenses (313) (1,282) (6,526) (20,348)
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.09 Loss before taxes/employee
profit sharing (88,396) (335,007) (11,125) (67,104)
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.10 Provision for income and
social contribution taxes 0 0 (4,178) (7,206)
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.11 Deferred income tax (1,766) (10,215) (416) 7,062
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
3.12 Employee profit sharing/
statutory contributions 0 0 (3,921) (8,140)
- ---------- ------------------------------------ ------------------ ----------------- ----------------- -----------------
Page 17
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Constant Purchasing Power
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- --------------- ---------------------- -----------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
01437-0 ABRIL S.A. Registration
44.597.052/0001-62
- --------------- ---------------------- -----------------------------------------
07.01 - CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands of Brazilian reais)
- ---------- -------------------------------- ------------------ ----------------- ----------------- -----------------
1 - CODE 2 - DESCRIPTION 3 - 4.1.1999 to 4 - 1.1.1999 to 5 - 4.1.1998 to 6 - 1.1.1998 to
6.30.1999 6.30.1999 6.30.1998 6.30.1998
- ---------- -------------------------------- ------------------ ----------------- ----------------- -----------------
3.12.01 Profit sharing 0 0 (3,921) (8,140)
- ---------- -------------------------------- ------------------ ----------------- ----------------- -----------------
3.12.01.01 Employee profit sharing 0 0 (3,921) (8,140)
- ---------- -------------------------------- ------------------ ----------------- ----------------- -----------------
3.12.02 Contributions 0 0 0 0
- ---------- -------------------------------- ------------------ ----------------- ----------------- -----------------
3.13 Reversal of interest on capital 0 0 0 0
- ---------- -------------------------------- ------------------ ----------------- ----------------- -----------------
3.14 Minority interest 31,923 123,613 13,813 31,998
- ---------- -------------------------------- ------------------ ----------------- ----------------- -----------------
3.15 Net income/loss for the period (58,239) (221,609) (5,827) (43,390)
- ---------- -------------------------------- ------------------ ----------------- ----------------- -----------------
NUMBER OF SHARES,
FORMER TREASURY STOCK (thousand) 15,906 15,906 19,344 19,344
- ---------- -------------------------------- ------------------ ----------------- ----------------- -----------------
EARNINGS PER SHARE 0 0 0 0
- ---------- -------------------------------- ------------------ ----------------- ----------------- -----------------
LOSS PER SHARE (3.66145) (13.93242) (0.30123) (2.24307)
- ---------- -------------------------------- ------------------ ----------------- ----------------- -----------------
Page 18
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Constant Purchasing Power
COMMERCIAL, INDUSTRIAL AND OTHER
- ------------------------ -------------------------------------------------------
01437-0 - ABRIL S.A. 44.597.052/0001-62
- ------------------------ -------------------------------------------------------
- --------------------------------------------------------------------------------
08.01 - COMMENT ON CONSOLIDATED PERFORMANCE IN THE QUARTER
- --------------------------------------------------------------------------------
See report prepared in accordance with Corporate Law.
Page 19
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Constant Purchasing Power
COMMERCIAL, INDUSTRIAL AND OTHER
- ------------------------ -------------------------------------------------------
01437-0 - ABRIL S.A. 44.597.052/0001-62
- ------------------------ -------------------------------------------------------
- --------------------------------------------------------------------------------
08.01 - COMMENT ON CONSOLIDATED PERFORMANCE IN THE QUARTER
- --------------------------------------------------------------------------------
Page 20
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Constant Purchasing Power
COMMERCIAL, INDUSTRIAL AND OTHER
- ------------------------ -------------------------------------------------------
01437-0 - ABRIL S.A. 44.597.052/0001-62
- ------------------------ -------------------------------------------------------
- --------------------------------------------------------------------------------
17.01 - REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS - UNQUALIFIED
- --------------------------------------------------------------------------------
See report prepared in accordance with Corporate Law.
Page 21
FEDERAL PUBLIC SERVICE
CVM - BRAZILIAN SECURITIES COMMISSION
QUARTERLY INFORMATION Date - 6.30.1999 Constant Purchasing Power
COMMERCIAL, INDUSTRIAL AND OTHER
01.01 - IDENTIFICATION
- -------------- ---------------------- ------------------------------------------
1 - CVM CODE 2 - REGISTERED NAME 3 - CNPJ - National Corporate Taxpayers'
Registration
01437-0 ABRIL S.A. 44.597.052/0001-62
- -------------- ---------------------- ------------------------------------------
CONTENTS
- ---------- ---------- -------------------------------------------- -----------
GROUP TABLE DESCRIPTION PAGE
- ---------- ---------- -------------------------------------------- -----------
01 01 IDENTIFICATION 1
- ---------- ---------- -------------------------------------------- -----------
01 02 HEAD OFFICE 1
- ---------- ---------- -------------------------------------------- -----------
01 03 DIRECTOR OF MARKET RELATIONS
(Address for correspondence with Company) 1
- ---------- ---------- -------------------------------------------- -----------
01 04 QUARTERLY INFORMATION REFERENCE 1
- ---------- ---------- -------------------------------------------- -----------
01 05 COMPOSITION OF CAPITAL 2
- ---------- ---------- -------------------------------------------- -----------
01 06 CHARACTERISTICS OF THE COMPANY 2
- ---------- ---------- -------------------------------------------- -----------
01 07 COMPANIES NOT INCLUDED IN THE
CONSOLIDATED FINANCIAL STATEMENTS 2
- ---------- ---------- -------------------------------------------- -----------
01 08 CASH DIVIDENDS 2
- ---------- ---------- -------------------------------------------- -----------
01 09 SUBSCRIBED CAPITAL AND CHANGES
IN THE CURRENT YEAR 3
- ---------- ---------- -------------------------------------------- -----------
01 10 DIRECTOR OF MARKET RELATIONS 3
- ---------- ---------- -------------------------------------------- -----------
02 01 BALANCE SHEET - ASSETS 4
- ---------- ---------- -------------------------------------------- -----------
02 02 BALANCE SHEET - LIABILITIES
AND STOCKHOLDERS' EQUITY 6
- ---------- ---------- -------------------------------------------- -----------
03 01 STATEMENT OF OPERATIONS 8
- ---------- ---------- -------------------------------------------- -----------
04 01 NOTES TO THE QUARTERLY INFORMATION 10
- ---------- ---------- -------------------------------------------- -----------
05 01 COMMENT ON THE COMPANY'S
PERFORMANCE IN THE QUARTER 12
- ---------- ---------- -------------------------------------------- -----------
06 01 CONSOLIDATED BALANCE SHEET - ASSETS 13
- ---------- ---------- -------------------------------------------- -----------
06 02 CONSOLIDATED BALANCE SHEET
- LIABILITIES AND STOCKHOLDERS' EQUITY 15
- ---------- ---------- -------------------------------------------- -----------
07 01 CONSOLIDATED STATEMENT OF OPERATIONS 17
- ---------- ---------- -------------------------------------------- -----------
08 01 COMMENT ON CONSOLIDATED
PERFORMANCE IN THE QUARTER 19
- ---------- ---------- -------------------------------------------- -----------
17 01 REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS 21
- ---------- ---------- -------------------------------------------- -----------
Page 22
ARTHUR ANDERSEN S/C
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Board of Directors of
Abril S.A.:
(1) We have reviewed the quarterly information of ABRIL S.A. (a Brazilian
corporation) which includes the balance sheet as of June 30, 1999, the statement
of operations for the quarter then ended, the performance report and relevant
information.
(2) Our review was conducted in accordance with specific standards established
by the Brazilian Institute of Accountants - IBRACON, together with the Federal
Accounting Council, and consisted principally of: (a) inquiries of and
discussions with management responsible for the accounting, financial and
operating areas as to the principal criteria adopted in the preparation of the
quarterly information, and (b) review of information and subsequent events which
had or could have had a relevant effect on the financial position and results of
operations of the Company.
(3) Based on our review, we are not aware of any material modifications that
should be made to the quarterly information referred to above for it to be in
conformity with accounting practices emanating from Brazilian corporate law, and
with standards established by the Brazilian Securities Commission - CVM,
specifically applicable to the preparation of mandatory quarterly information.
(4) Also based on our review, we are not aware of any material modifications
that should be made to the quarterly information referred to in paragraph 1
above for it to be in conformity with accounting practices emanating from
Brazilian corporate law, and with standards established by the Brazilian
Securities Commission - CVM, specifically applicable to the preparation of
voluntary quarterly information in constant purchasing power currency.
ARTHUR ANDERSEN S/C
(5) The balance sheet as of March 31, 1999, presented for comparative purposes,
had been audited by us and our report thereon dated August 31, 1999, was issued
without qualification. The statement of operations for the quarter and the
six-month period ended June 30, 1998, presented for comparative purposes, had
also been previously reviewed by us and our report thereon, dated September 15,
1998, was issued without qualification.
Sao Paulo, September 3, 1999
ARTHUR
ANDERSEN ARTHUR ANDERSEN S/C
Marco Antonio Brandao Simurro
Engagement Partner