The document compares the historical returns of London Life's participating life insurance account to various other financial indexes from 1980 to 2009. Over the short, medium, and long term, the dividend scale interest rate of the participating account has remained relatively stable compared to indexes like the S&P/TSX Composite and consumer price index, demonstrating the stability provided by the long-term strategy and size of the participating account.
JBS concluded the acquisition of Swift Foods Company, making it the world's largest beef producer. During the quarter, JBS continued implementing strategies to recover the operating and financial performance of the JBS USA beef division, including adding a second shift at the Greeley plant to increase cattle slaughter. The pork division and operations in Australia met estimates. For the third quarter of 2007, JBS SA reported total net revenue excluding JBS USA of R$1,315.5 million, up 12.3% from the third quarter of 2006. EBITDA was R$165.2 million with a margin of 14.1%, maintaining profitability levels despite pressure on raw material costs in Brazil.
The document summarizes the financial results of a company for the fourth quarter and full year of 2011. It highlights that net revenue increased 18% in 4Q11 and 18.5% for the full year. EBITDA increased 22% in 4Q11 and 22.3% for the full year. FFO increased 35.3% in 4Q11 and 40.4% for the full year. Same-store rent and sales increased by double-digits. The company has an expansion pipeline that will double its owned retail space by 2013.
Generali Group reported its 1Q 2008 results. Key highlights included:
- Operating result decreased 15.6% to €1,161 million due to lower life results, while P&C operating result rose 6.4% to €584 million.
- Net result increased 27.2% to €910 million due to higher non-operating investment income.
- Shareholders' equity declined 7% to €13.8 billion mainly from unfavorable currency movements.
- Total premiums were stable at €18.4 billion while life APE grew 17% and P&C premiums rose 2.8% on a like-for-like basis.
1) Localiza reported record results for the third quarter of 2010, with consolidated net revenue increasing 52.2% compared to the third quarter of 2009.
2) EBITDA grew 53.7% versus the prior year period, also setting a record.
3) Net income increased dramatically by 263.6%, to a record R$74.9 million.
- Net income for 2Q03 was US$4.9 million, down from US$44 million in 1Q03 due to currency fluctuations and delayed receivables collections.
- Embraer received 4 new orders for 170/190 jets totaling 115 aircraft and intends to open a new industrial facility in Jacksonville.
- Backlog remained strong at US$16.8 billion though lower than previous quarters due to aircraft deliveries and reduced 2003 delivery estimates.
- The company's net profit increased 47.1% compared to the previous quarter, reaching R$11.4 million.
- Inventory levels decreased 11.1% compared to the previous quarter.
- Cash flow from operating activities was positive at R
External risks continue to threaten the global economy but Korea’s economic growth will likely improve in the second half of 2011 and free trade agreements are poised to increase expansion substantially. Those were among the points made at the Korean Economic Forum, co-hosted by Samsung Economic Research Institute and the Korea JoongAng Daily at the Hotel Shilla on May 25. Among the many distinguished guests were ambassadors, CEOs and foreign correspondents.
JBS concluded the acquisition of Swift Foods Company, making it the world's largest beef producer. During the quarter, JBS continued implementing strategies to recover the operating and financial performance of the JBS USA beef division, including adding a second shift at the Greeley plant to increase cattle slaughter. The pork division and operations in Australia met estimates. For the third quarter of 2007, JBS SA reported total net revenue excluding JBS USA of R$1,315.5 million, up 12.3% from the third quarter of 2006. EBITDA was R$165.2 million with a margin of 14.1%, maintaining profitability levels despite pressure on raw material costs in Brazil.
The document summarizes the financial results of a company for the fourth quarter and full year of 2011. It highlights that net revenue increased 18% in 4Q11 and 18.5% for the full year. EBITDA increased 22% in 4Q11 and 22.3% for the full year. FFO increased 35.3% in 4Q11 and 40.4% for the full year. Same-store rent and sales increased by double-digits. The company has an expansion pipeline that will double its owned retail space by 2013.
Generali Group reported its 1Q 2008 results. Key highlights included:
- Operating result decreased 15.6% to €1,161 million due to lower life results, while P&C operating result rose 6.4% to €584 million.
- Net result increased 27.2% to €910 million due to higher non-operating investment income.
- Shareholders' equity declined 7% to €13.8 billion mainly from unfavorable currency movements.
- Total premiums were stable at €18.4 billion while life APE grew 17% and P&C premiums rose 2.8% on a like-for-like basis.
1) Localiza reported record results for the third quarter of 2010, with consolidated net revenue increasing 52.2% compared to the third quarter of 2009.
2) EBITDA grew 53.7% versus the prior year period, also setting a record.
3) Net income increased dramatically by 263.6%, to a record R$74.9 million.
- Net income for 2Q03 was US$4.9 million, down from US$44 million in 1Q03 due to currency fluctuations and delayed receivables collections.
- Embraer received 4 new orders for 170/190 jets totaling 115 aircraft and intends to open a new industrial facility in Jacksonville.
- Backlog remained strong at US$16.8 billion though lower than previous quarters due to aircraft deliveries and reduced 2003 delivery estimates.
- The company's net profit increased 47.1% compared to the previous quarter, reaching R$11.4 million.
- Inventory levels decreased 11.1% compared to the previous quarter.
- Cash flow from operating activities was positive at R
External risks continue to threaten the global economy but Korea’s economic growth will likely improve in the second half of 2011 and free trade agreements are poised to increase expansion substantially. Those were among the points made at the Korean Economic Forum, co-hosted by Samsung Economic Research Institute and the Korea JoongAng Daily at the Hotel Shilla on May 25. Among the many distinguished guests were ambassadors, CEOs and foreign correspondents.
This investor handout provides an overview of Bayer's financial performance in Q1 2012 and outlook for 2012. Key points include:
- Sales and earnings grew in Q1 2012 compared to Q1 2011, with a 5% increase in sales and double-digit increases in EBIT and EPS.
- The outlook for 2012 projects further sales and earnings growth, with sales expected to increase around 3% and EBITDA and EPS expected to slightly improve.
- Bayer has mid-term targets through 2014 to increase sales and profitability across its business segments, focusing on innovation, growth, and productivity.
This document summarizes the development of agriculture in Brazil and discusses potential impacts of climate change and policy alternatives. Key points:
1) Brazilian agriculture transformed from low production to highly productive through increased yields, new technologies, and expansion into new areas.
2) Climate change may impact crop yields and suitable land for agriculture in Brazil according to models, though effects are uncertain.
3) Brazil has implemented policies like its Agricultural and Livestock Plan to promote no-till farming, integrated systems, and degraded pasture recovery to mitigate emissions.
1) Foreign aid plays an important role in Pakistan's economy, accounting for a significant portion of capital inflows and government revenues. However, aid levels have declined sharply in recent years.
2) Pakistan faces major security challenges from conflicts in neighboring Afghanistan that have imposed huge economic costs on Pakistan in the form of damaged infrastructure and disrupted economic activity.
3) Effective use of foreign aid could help Pakistan address both its economic and security issues by funding development priorities like power, transportation and education, which also have indirect security benefits by promoting stability and counteracting extremism. However, reforms are needed to improve aid effectiveness.
100804 apresentação de resultados 2 t10-inglês_sem script [modo de compatib...Multiplus
Multiplus reported strong financial and operating results for 2Q10. Members grew 4.1% to 7.2 million while points issued and redeemed increased 16.8% and 143.3% respectively. Net revenue jumped 129.2% to R$93.5 million and net income soared 209.2% to R$23.1 million. Multiplus maintained high corporate governance standards and continued expanding its partnership network, positioning it for continued high growth potential.
The Chinese Academy of Agricultural Sciences (CAAS) and the International Food Policy Research Institute (IFPRI) jointly hosted the International Conference on Climate Change and Food Security (ICCCFS) November 6-8, 2011 in Beijing, China. This conference provided a forum for leading international scientists and young researchers to present their latest research findings, exchange their research ideas, and share their experiences in the field of climate change and food security. The event included technical sessions, poster sessions, and social events. The conference results and recommendations were presented at the global climate talks in Durban, South Africa during an official side event on December 1.
Paula Gomes
Phone: 55 (21) 4009 0276 ext. 8119
E-mail: paula.gomes@profarma.com.br
Address: Av. Brasil, 4.000 - Módulo 30
Rio de Janeiro, RJ
CEP: 22640-102
NY Representative:
MZ Group - Greg Falesnik
Phone: 1-949-385-6449
E-mail: greg.falesnik@mzgroup.us
This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of Profarma. These are merely projections
Apresentação sem discurso 2 t10 aes eletropaulo final_eng (final)AES Eletropaulo
- AES Eletropaulo reported higher energy volume, earnings, and cash generation in 2Q10 compared to 2Q09. Net income increased 201% due to market growth, tariff adjustments, and one-off gains.
- EBITDA more than doubled due to increased revenue, lower expenses, and a one-time settlement. Cash flow was up 37% despite higher capital expenditures.
- The results demonstrate the company's improved operational and financial performance through consumption growth, expense management, and non-recurring items.
This document provides a summary of industry statistics for the global commercial airline industry from 2001 to 2010. It shows revenues, expenses, profits, traffic volumes, yields and costs. Some key points are:
- Revenues fell in 2001/2008 due to economic downturns but are forecast to rise in 2010. Profits turned negative in 2008/2009.
- Fuel is the largest expense, rising from 13% to 33% of total expenses from 2001-2008 due to higher oil prices.
- Passenger traffic grew until 2008 but fell in 2009 and is forecast to rise in 2010. Cargo traffic also declined in 2009.
- Load factors increased over time but profits remained elusive for some periods due to
The report provides information on recent property sales in the suburb of Dalkeith, Western Australia. It finds that the median house price in Dalkeith is currently $2,405,000, with a 1-year return of -14% and 3-year return of -14%. Recent property sales in Dalkeith have ranged from $1,460,000 to $6,000,000.
Localiza Rent a Car S.A. presented its 2Q07 results which showed consistent growth and increased profitability. Key highlights included a 34.4% increase in net revenues, solid EBITDA growth of 22.1%, and superior shareholder value as evidenced by a 24.6% increase in economic value added. This strong performance was driven by improvements in fleet utilization rates, lower depreciation costs, and reduced investment needs. Looking ahead, Localiza plans to continue expanding its network of owned branches and broadening its geographic coverage.
2 q07 financial and operating results presentationEquatorial
The document summarizes the financial and operating results of an unnamed company for the second quarter of 2007.
Key highlights include a 12.6% increase in net revenues year-over-year, a 42.3% increase in EBITDA, and a 66.2% increase in net income. Customer base grew 7% year-over-year and energy sales increased 13.3%. Quality metrics like DEC and FEC improved significantly compared to the previous year. Manageable costs and expenses declined as a percentage of net revenues.
Mariana Pereira
Address: Av. Brigadeiro Faria Lima,
3477 - 11th floor,
Ipanema, Rio de Janeiro,
RJ - Brazil - CEP 22430-000
NY Representative:
MZ Group - Greg Falesnik
Telephone: 1-949-385-6449
E-mail: greg.falesnik@mzgroup.us
Thank you for your interest in Profarma.
Please let us know if you need any
additional information.
Best regards,
Profarma Investor Relations
18
Profarma reported financial results for the first quarter of 2011, highlighting a 1.7% rise in consolidated gross revenues to R$778.8 million. The health and beauty products category saw strong sales growth of 78.0%. Operational efficiencies led to a 31.4% drop in logistics errors. However, net profit declined significantly to R$2.2 million due to higher operating expenses and financial costs. Cash flow from operations turned negative due to a large increase in working capital requirements.
Eletropaulo reported financial results for the second quarter of 2009. Key highlights include:
- Net income of R$155 million, down 21% from the same period last year.
- EBITDA of R$342 million, down 13% from 2Q08, impacted by higher energy supply costs and labor expenses.
- Collection rate reached 103.1%, up from 98.1% in 2Q08.
- The company proposed distributing R$323 million in interim dividends.
- ANEEL authorized a tariff increase of 14.88% effective July 2009, incorporating effects from the 2007 tariff reset.
Starhill Global REIT reported a 7.4% increase in income to be distributed for the first quarter of 2009 compared to the same period in 2008. Net property income rose 17.2% driven by higher rental rates in Singapore and Japan, as well as stronger performance of the Chengdu property in China. The REIT maintained a low weighted average effective interest rate of 2.95% and has 89.4% of its borrowings fixed until September 2010, providing stability amid the economic downturn. Starhill Global REIT will focus on asset enhancements and pursuing growth strategies to increase the resilience and performance of its portfolio.
This public meeting document from APIMEC in October 2010 provides an overview of the company's business model, ownership breakdown, launched projects by region and segment, project conclusions, cash position, contracted sales, inventory levels, land bank, net operating revenue, net profit, and delivered projects in 2008 and 2009. Key information includes that APIMEC focuses on the low-income housing segment through partnerships with pure play developers while maintaining control over each project.
Trinidad and Tobago has a population of 1.4 million people and an area of 5,128 square kilometers. Its GDP grew significantly between 2000 and 2008 but declined in 2009. Inflation has generally been between 3-12% annually while unemployment declined from 12% to 5% between 2000 and 2006. The country's main exports are mineral fuels, oils, and inorganic chemicals, with its top export market being the United States. Imports are led by vehicles, mineral fuels, and articles of iron or steel, primarily sourced from the United States, Colombia, and Russia. The largest services exports are travel and transportation while the top services imports are transportation and travel.
The document discusses the Indian economy and trends in Asian economies. It provides an overview of India's economic transition to a services-driven economy, with services now accounting for 57% of GDP. It summarizes growth rates for key sectors in India such as agriculture, industry, and services between 2005-2011. It also discusses the impacts of the global recession of 2008-2009 on Asian economies and indicators of recovery. Overall, it analyzes economic growth trends and the structure of economies across Asia.
The document is a disclaimer stating that the contents are confidential property of Side Effects Design and Innovation Pty (Ltd) and may not be disclosed or used without prior written consent and monetary exchange. It describes the auctioneer as a central reference guide for the auction industry owned and operated by Side Effects Design. It is distributed through community newspapers across Gauteng with a weekly circulation of 650,000 reaching LSM 8-10 decision makers at a higher rate than daily newspapers.
11.price and income elasticities of disaggregated import demandAlexander Decker
This document summarizes a study that examines import demand in the Dominican Republic from 1980-2005. It estimates import demand functions for services, merchandise, petroleum, and other products using the bounds testing approach to cointegration. The key findings are:
1) All estimated import demand functions show a long-run equilibrium relationship between imports, relative prices, and domestic income.
2) The long-run price elasticities are below 1, indicating relative prices do not affect import demand.
3) The long-run income elasticities are significantly above 1, showing imports are strongly affected by domestic economic activity.
4) These results have implications for sustainable economic growth in the Dominican Republic given its membership
- AES Eletropaulo's operational and financial results for 2Q11 were positively impacted by higher energy consumption in the captive and free markets as well as lower losses. Investments increased 23% compared to 2Q10.
- EBITDA grew 4.2% to R$525 million in 2Q11 compared to 2Q10, excluding one-time effects. Net income increased 6.1% to R$255 million also excluding one-time impacts.
- Operational indicators like SAIDI and SAIFI improved due to investments in maintenance and pruning, reducing interruptions by 17% and 14% respectively over the last 12 months.
- AES Eletropaulo's energy consumption increased in the captive and free markets in 2Q11 compared to 2Q10. Losses decreased and reliability indices SAIDI and SAIFI improved.
- EBITDA increased 4.2% in 2Q11 over 2Q10, excluding one-time effects. Net income increased 6.1% when excluding one-time impacts.
- Interim dividends of R$291 million were distributed, representing 50% of 1H11 results. The tariff reset was postponed to an undefined date due to the regulatory methodology still being determined.
This investor handout provides an overview of Bayer's financial performance in Q1 2012 and outlook for 2012. Key points include:
- Sales and earnings grew in Q1 2012 compared to Q1 2011, with a 5% increase in sales and double-digit increases in EBIT and EPS.
- The outlook for 2012 projects further sales and earnings growth, with sales expected to increase around 3% and EBITDA and EPS expected to slightly improve.
- Bayer has mid-term targets through 2014 to increase sales and profitability across its business segments, focusing on innovation, growth, and productivity.
This document summarizes the development of agriculture in Brazil and discusses potential impacts of climate change and policy alternatives. Key points:
1) Brazilian agriculture transformed from low production to highly productive through increased yields, new technologies, and expansion into new areas.
2) Climate change may impact crop yields and suitable land for agriculture in Brazil according to models, though effects are uncertain.
3) Brazil has implemented policies like its Agricultural and Livestock Plan to promote no-till farming, integrated systems, and degraded pasture recovery to mitigate emissions.
1) Foreign aid plays an important role in Pakistan's economy, accounting for a significant portion of capital inflows and government revenues. However, aid levels have declined sharply in recent years.
2) Pakistan faces major security challenges from conflicts in neighboring Afghanistan that have imposed huge economic costs on Pakistan in the form of damaged infrastructure and disrupted economic activity.
3) Effective use of foreign aid could help Pakistan address both its economic and security issues by funding development priorities like power, transportation and education, which also have indirect security benefits by promoting stability and counteracting extremism. However, reforms are needed to improve aid effectiveness.
100804 apresentação de resultados 2 t10-inglês_sem script [modo de compatib...Multiplus
Multiplus reported strong financial and operating results for 2Q10. Members grew 4.1% to 7.2 million while points issued and redeemed increased 16.8% and 143.3% respectively. Net revenue jumped 129.2% to R$93.5 million and net income soared 209.2% to R$23.1 million. Multiplus maintained high corporate governance standards and continued expanding its partnership network, positioning it for continued high growth potential.
The Chinese Academy of Agricultural Sciences (CAAS) and the International Food Policy Research Institute (IFPRI) jointly hosted the International Conference on Climate Change and Food Security (ICCCFS) November 6-8, 2011 in Beijing, China. This conference provided a forum for leading international scientists and young researchers to present their latest research findings, exchange their research ideas, and share their experiences in the field of climate change and food security. The event included technical sessions, poster sessions, and social events. The conference results and recommendations were presented at the global climate talks in Durban, South Africa during an official side event on December 1.
Paula Gomes
Phone: 55 (21) 4009 0276 ext. 8119
E-mail: paula.gomes@profarma.com.br
Address: Av. Brasil, 4.000 - Módulo 30
Rio de Janeiro, RJ
CEP: 22640-102
NY Representative:
MZ Group - Greg Falesnik
Phone: 1-949-385-6449
E-mail: greg.falesnik@mzgroup.us
This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of Profarma. These are merely projections
Apresentação sem discurso 2 t10 aes eletropaulo final_eng (final)AES Eletropaulo
- AES Eletropaulo reported higher energy volume, earnings, and cash generation in 2Q10 compared to 2Q09. Net income increased 201% due to market growth, tariff adjustments, and one-off gains.
- EBITDA more than doubled due to increased revenue, lower expenses, and a one-time settlement. Cash flow was up 37% despite higher capital expenditures.
- The results demonstrate the company's improved operational and financial performance through consumption growth, expense management, and non-recurring items.
This document provides a summary of industry statistics for the global commercial airline industry from 2001 to 2010. It shows revenues, expenses, profits, traffic volumes, yields and costs. Some key points are:
- Revenues fell in 2001/2008 due to economic downturns but are forecast to rise in 2010. Profits turned negative in 2008/2009.
- Fuel is the largest expense, rising from 13% to 33% of total expenses from 2001-2008 due to higher oil prices.
- Passenger traffic grew until 2008 but fell in 2009 and is forecast to rise in 2010. Cargo traffic also declined in 2009.
- Load factors increased over time but profits remained elusive for some periods due to
The report provides information on recent property sales in the suburb of Dalkeith, Western Australia. It finds that the median house price in Dalkeith is currently $2,405,000, with a 1-year return of -14% and 3-year return of -14%. Recent property sales in Dalkeith have ranged from $1,460,000 to $6,000,000.
Localiza Rent a Car S.A. presented its 2Q07 results which showed consistent growth and increased profitability. Key highlights included a 34.4% increase in net revenues, solid EBITDA growth of 22.1%, and superior shareholder value as evidenced by a 24.6% increase in economic value added. This strong performance was driven by improvements in fleet utilization rates, lower depreciation costs, and reduced investment needs. Looking ahead, Localiza plans to continue expanding its network of owned branches and broadening its geographic coverage.
2 q07 financial and operating results presentationEquatorial
The document summarizes the financial and operating results of an unnamed company for the second quarter of 2007.
Key highlights include a 12.6% increase in net revenues year-over-year, a 42.3% increase in EBITDA, and a 66.2% increase in net income. Customer base grew 7% year-over-year and energy sales increased 13.3%. Quality metrics like DEC and FEC improved significantly compared to the previous year. Manageable costs and expenses declined as a percentage of net revenues.
Mariana Pereira
Address: Av. Brigadeiro Faria Lima,
3477 - 11th floor,
Ipanema, Rio de Janeiro,
RJ - Brazil - CEP 22430-000
NY Representative:
MZ Group - Greg Falesnik
Telephone: 1-949-385-6449
E-mail: greg.falesnik@mzgroup.us
Thank you for your interest in Profarma.
Please let us know if you need any
additional information.
Best regards,
Profarma Investor Relations
18
Profarma reported financial results for the first quarter of 2011, highlighting a 1.7% rise in consolidated gross revenues to R$778.8 million. The health and beauty products category saw strong sales growth of 78.0%. Operational efficiencies led to a 31.4% drop in logistics errors. However, net profit declined significantly to R$2.2 million due to higher operating expenses and financial costs. Cash flow from operations turned negative due to a large increase in working capital requirements.
Eletropaulo reported financial results for the second quarter of 2009. Key highlights include:
- Net income of R$155 million, down 21% from the same period last year.
- EBITDA of R$342 million, down 13% from 2Q08, impacted by higher energy supply costs and labor expenses.
- Collection rate reached 103.1%, up from 98.1% in 2Q08.
- The company proposed distributing R$323 million in interim dividends.
- ANEEL authorized a tariff increase of 14.88% effective July 2009, incorporating effects from the 2007 tariff reset.
Starhill Global REIT reported a 7.4% increase in income to be distributed for the first quarter of 2009 compared to the same period in 2008. Net property income rose 17.2% driven by higher rental rates in Singapore and Japan, as well as stronger performance of the Chengdu property in China. The REIT maintained a low weighted average effective interest rate of 2.95% and has 89.4% of its borrowings fixed until September 2010, providing stability amid the economic downturn. Starhill Global REIT will focus on asset enhancements and pursuing growth strategies to increase the resilience and performance of its portfolio.
This public meeting document from APIMEC in October 2010 provides an overview of the company's business model, ownership breakdown, launched projects by region and segment, project conclusions, cash position, contracted sales, inventory levels, land bank, net operating revenue, net profit, and delivered projects in 2008 and 2009. Key information includes that APIMEC focuses on the low-income housing segment through partnerships with pure play developers while maintaining control over each project.
Trinidad and Tobago has a population of 1.4 million people and an area of 5,128 square kilometers. Its GDP grew significantly between 2000 and 2008 but declined in 2009. Inflation has generally been between 3-12% annually while unemployment declined from 12% to 5% between 2000 and 2006. The country's main exports are mineral fuels, oils, and inorganic chemicals, with its top export market being the United States. Imports are led by vehicles, mineral fuels, and articles of iron or steel, primarily sourced from the United States, Colombia, and Russia. The largest services exports are travel and transportation while the top services imports are transportation and travel.
The document discusses the Indian economy and trends in Asian economies. It provides an overview of India's economic transition to a services-driven economy, with services now accounting for 57% of GDP. It summarizes growth rates for key sectors in India such as agriculture, industry, and services between 2005-2011. It also discusses the impacts of the global recession of 2008-2009 on Asian economies and indicators of recovery. Overall, it analyzes economic growth trends and the structure of economies across Asia.
The document is a disclaimer stating that the contents are confidential property of Side Effects Design and Innovation Pty (Ltd) and may not be disclosed or used without prior written consent and monetary exchange. It describes the auctioneer as a central reference guide for the auction industry owned and operated by Side Effects Design. It is distributed through community newspapers across Gauteng with a weekly circulation of 650,000 reaching LSM 8-10 decision makers at a higher rate than daily newspapers.
11.price and income elasticities of disaggregated import demandAlexander Decker
This document summarizes a study that examines import demand in the Dominican Republic from 1980-2005. It estimates import demand functions for services, merchandise, petroleum, and other products using the bounds testing approach to cointegration. The key findings are:
1) All estimated import demand functions show a long-run equilibrium relationship between imports, relative prices, and domestic income.
2) The long-run price elasticities are below 1, indicating relative prices do not affect import demand.
3) The long-run income elasticities are significantly above 1, showing imports are strongly affected by domestic economic activity.
4) These results have implications for sustainable economic growth in the Dominican Republic given its membership
- AES Eletropaulo's operational and financial results for 2Q11 were positively impacted by higher energy consumption in the captive and free markets as well as lower losses. Investments increased 23% compared to 2Q10.
- EBITDA grew 4.2% to R$525 million in 2Q11 compared to 2Q10, excluding one-time effects. Net income increased 6.1% to R$255 million also excluding one-time impacts.
- Operational indicators like SAIDI and SAIFI improved due to investments in maintenance and pruning, reducing interruptions by 17% and 14% respectively over the last 12 months.
- AES Eletropaulo's energy consumption increased in the captive and free markets in 2Q11 compared to 2Q10. Losses decreased and reliability indices SAIDI and SAIFI improved.
- EBITDA increased 4.2% in 2Q11 over 2Q10, excluding one-time effects. Net income increased 6.1% when excluding one-time impacts.
- Interim dividends of R$291 million were distributed, representing 50% of 1H11 results. The tariff reset was postponed to an undefined date due to the regulatory methodology still being determined.
1. The document contains an economics test with two sections - Macroeconomics and questions related to circular flow, multipliers, autonomous investments, effective demand, unemployment and differences between classical and Keynesian theories.
2. Section A contains three compulsory questions - the first asks to identify business cycles in economic indicators over 32 quarters and recommend measures for the economy. The second calculates total national income after 10 years using a government investment multiplier. The third evaluates costs and benefits of expanding production capacity.
3. Section B asks to attempt any five of seven questions worth 10 marks each, explaining economic concepts like circular flow, multipliers, demonstration and peak income effects, and differences between classical and Keynesian theories.
The document summarizes the 2010 results for an energy company. Key points include:
1) Energy consumption was higher than 2009, with losses decreasing. Investments increased 32% to R$682 million.
2) EBITDA increased 35.9% to R$2.4 billion and net income increased 16.5% to R$1.3 billion.
3) Various regulatory developments were outlined, including a proposed 8% tariff adjustment and methodology changes for the next tariff review cycle.
The document provides an overview of foreign direct investment in Sierra Leone. It notes that FDI in Sierra Leone is concentrated in extractive industries like mining. Statistics are presented on FDI flows and stocks in Sierra Leone over time as well as the main countries that are sources and destinations of FDI for Sierra Leone.
This document analyzes economic trends in India from 2006-2012 using data on treasury bill yields, wholesale price index (WPI), nominal interest rates, and inflation rates. It shows that treasury bill yields and WPI generally increased together from 2006-2008 and 2010-2012. It also finds a moderate positive correlation between nominal interest rates and inflation rates over this period. The analysis suggests that changes in treasury bill yields by the central bank are used as a monetary policy tool to control inflation.
1) Energy consumption increased in the first quarter of 2011, with captive market consumption up 6.3% and free market consumption up 12.6%. Operational losses decreased and reliability indices SAIDI and SAIFI improved.
2) EBITDA increased 10.2% and net income increased 26.5% in the first quarter compared to the previous year.
3) The methodology for the next tariff revision cycle is expected to be disclosed after July 2011, pushing back the start of the new cycle until the end of 2011.
The document discusses the mobile phone market and the Android operating system. It provides market share data showing Android's growing popularity from 2010 to 2011. It notes that Android is an open source operating system developed by Google that allows for customization by manufacturers and developers. Over 350,000 applications are available on the Android Market. The document also highlights key features of Android like its fast internet browsing, multi-tasking abilities, and ongoing improvements through software updates.
The document provides an overview of key Indian and global economic and financial indicators for March 2011. It includes sections on growth, price, banking, exchange rate, interest rate, stock market, capital flow, and commodity market indicators for the Indian economy as well as economic and stock market indicators for the global economy. The first part also provides a quarterly breakdown of India's GDP growth, contributions by economic sector, and consumer price inflation numbers.
Sample Copy of monthly statistical e-bulletin comprising about 30 tables and some charts with the latest available economic/financial market indicators, both Indian and Global. It reaches the subscribers’ inbox on the 9th of each month.
Eupdts March11-Indian & Global Economic IndicatorsEcofin Surge
Monthly statistical e-bulletin comprising about 30 tables and some charts with the latest available economic/financial market indicators, both Indian and Global
monthly statistical e-bulletin comprising about 30 tables and some charts with the latest available economic/financial market indicators, both Indian and Global.
This investor presentation provides an overview of Bayer Group's financial performance and outlook. It discusses Bayer's market leading positions, new product pipeline, and growth in emerging markets. The presentation summarizes Bayer's record sales and earnings in 2011, consistent strong cash generation from 2007-2011, and financial outlook for 2012. It anticipates global economic and political risks remaining high in 2012 and continued growth being driven by Asian emerging markets.
Individual disability insurance can provide income replacement if you are unable to work due to disability. The document discusses how insuring your income through disability insurance is a fundamental part of financial planning, as your ability to earn an income may be your most valuable asset. It notes that over 25% of 30-year old males and over 20% of 30-year old females will become disabled for 90 days or more before age 65. The document emphasizes that if you become disabled, your savings and assets may not be enough to cover living expenses, making disability insurance crucial protection.
The document discusses establishing a charitable giving program through Quadrus to achieve philanthropic goals. The program allows donors to simplify charitable giving, leave a legacy of support, and take control of recommending which charities receive donations over time. Donors can establish a donor-advised fund with an initial donation of $25,000 or more in cash or securities and receive an immediate tax receipt while recommending grants of $500 or more to registered Canadian charities from investment returns.
The document provides an overview of London Life's participating life insurance account. It discusses accountability, strength, and performance.
Some key points:
- London Life has the largest participating life insurance account in Canada with over $20 billion in assets and 1.6 million policies.
- The account is regulated by OSFI and provincial regulators to ensure fair treatment of policyholders.
- Policyholder dividends have been paid every year since 1886, with $757 million distributed in 2012.
- The account aims to balance stability, growth, and equity among policyholders over the long term.
Participating Life Insurance - Balancing To Reduce RiskLawrence Cole
This document summarizes the benefits of participating life insurance as a unique asset class. It notes that participating life insurance provides guaranteed cash value growth, tax advantages on cash value growth, flexibility of access to cash value, and a tax-free life insurance benefit. The document highlights London Life's participating account, which provides professionally managed investments, low expenses, and historically strong and stable returns compared to other asset classes. An example shows how participating life insurance can outperform taxable investments on both cash value and death benefits over a 20-45 year period. The document promotes participating life insurance as a way to enhance net worth and estate value through its blend of benefits.
This document discusses financial planning solutions to help achieve goals and dreams. It outlines various insurance, investment, and banking products that can be used in a customized financial security plan. These include life, disability, critical illness, health, and dental insurance, as well as investment products like segregated funds, RRSPs, TFSAs, annuities, and mortgages. The advisor's process involves understanding a client's needs, identifying gaps, building a plan to meet short and long-term goals, and regularly reviewing and updating the plan. The advisor invites contacting them to arrange a meeting to create a tailored financial security plan with no obligation.
The document provides an overview of London Life's participating life insurance account for 2011. It discusses London Life's accountability, strength, and long-term performance in managing the participating account. Some key points:
- London Life has distributed dividends to participating policyowners every year since 1886 and continues to have the largest participating account in Canada.
- The participating account is managed separately from the shareholder account under provisions of the Insurance Companies Act (ICA) of Canada.
- In 2011, dividends distributed to participating policyowners were $757 million, with the dividend scale interest rate maintained at 6.9%.
- London Life has strong credit ratings and $19.8 billion in total participating account assets,
1) The document discusses Quadrus corporate class funds, which offer a collection of multi-manager and single-manager funds from leading investment managers.
2) Each multi-manager equity fund is designed to minimize risk through rigorous selection criteria and extensive portfolio testing to ensure minimal volatility for the expected return.
3) The single-manager funds complement the other corporate class funds by providing a unique, tax-efficient portfolio that is diversified across investment styles, asset classes, and geographic regions.
This document discusses how corporate class funds can help investors reduce taxes through tax-efficient investing. Specifically, it outlines how investors can 1) realize little taxable income annually, 2) defer capital gains when switching funds for rebalancing or income needs, 3) receive initial tax-free payments that defer capital gains, and 4) avoid taxes on capital gains entirely by donating funds to charity. The document provides examples showing how these strategies can significantly reduce taxes over time compared to regular mutual fund investments.
Karen Timchuk purchased critical illness insurance in 2006 despite initial reluctance. Years later in 2009, she was diagnosed with non-Hodgkin's lymphoma and colon cancer. She received a $100,000 payout from her policy which she used to cover medical costs, take a trip during treatment, and continue pension contributions. Karen has since recovered, returned to work, and recommends critical illness insurance to others based on her positive experience.
Lawrence Cole is a financial security and investment representative who helps clients achieve their goals and dreams through customized financial security plans. He evaluates clients' needs, discusses options for wealth creation, insurance, estate planning, and helps implement recommendations over time. Cole and his team have access to a wide range of financial products and experts to develop comprehensive plans that meet clients' changing needs at every stage of life. He invites potential clients to meet to begin creating a plan without obligation.
Your Guide To Participating Life InsuranceLawrence Cole
London Life participating life insurance provides permanent life insurance with guaranteed values and tax-advantaged growth potential. Policyholders have the opportunity to receive annual dividends based on the performance of over 1.5 million policies in the participating account. The guide outlines the key components of participating policies, including guaranteed values, investment performance, dividends, and flexibility through optional riders and benefits. It emphasizes the financial strength and stability of London Life as the largest participating life insurer in Canada with over 150 years of experience.
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Looking Back At Historical Returns
1. London Life participating life insurance
Looking back
at historical returns
Even during times of economic change, the London Life
ACCounTAbILITY • STrenGTh • PerformAnCe
participating account’s dividend scale interest rate has
been relatively stable, compared with other financial
instruments and indexes.
London Life Government
S&P/TSX 5-year Consumer
scale London Life of Canada
Year dividend rate participating composite GIC return price index
interest 10-year bonds
account (%) index (%) (%) (%)
(%) (%)
1980 9.0 9.0 30.1 12.3 12.3 11.1
1981 9.4 9.4 -10.3 15.4 15.3 12.1
1982 9.8 9.9 5.5 13.7 14.0 9.3
1983 10.5 10.1 35.5 11.3 11.1 4.6
1984 11.1 10.3 -2.4 11.9 12.4 3.7 The long-term
1985 11.1 10.5 25.1 10.5 10.8 4.4 investment strategy
1986 11.1 10.6 9.0 9.6 9.4 4.2
1987 11.1 10.3 5.9 9.4 9.6 4.2
and size of the
1988 11.1 10.3 11.1 10.0 9.8 3.9 participating account
1989 10.8 10.4 21.4 10.2 9.8 5.3
1990 10.8 10.1 -14.8 11.0 10.8 5.0
have contributed to
1991 10.8 9.9 12.0 8.9 9.4 3.8 the dividend scale
1992 10.7 8.7 -1.4 7.3 8.2 2.2
1993 9.7 8.5 32.6 6.2 7.2 1.7
interest rate’s stability
1994 8.9 7.9 -0.2 7.3 8.3 0.2 — one factor of
1995 8.9 8.0 14.5 7.1 7.9 1.7
many that contribute
1996 8.9 7.9 28.4 5.6 6.9 2.2
1997 8.9 7.9 15.0 4.7 5.9 0.8 to your individual
1998 8.9 7.9 -1.6 4.4 5.3 1.0
policy’s performance.
1999 8.9 7.6 31.7 4.8 5.6 2.6
2000 8.4 7.3 7.4 5.3 6.0 3.2
2001 8.4 7.0 -12.6 4.1 5.3 0.7
2002 8.4 6.7 -12.4 3.9 5.1 3.8
2003 8.4 7.5 26.7 3.1 4.5 2.1
2004 7.7 6.7 14.5 2.9 4.3 2.1
2005 7.2 6.7 24.1 2.7 3.9 2.1
2006 7.2 6.5 17.3 3.2 4.2 1.7
2007 7.2 6.2 9.8 3.3 4.3 2.4
2008 7.3 -0.3 -33.0 3.0 3.4 1.2
2009 7.3 8.7 35.1 1.9 2.8 1.3
2. historical average returns
London Life London Life S&P/TSX 5-year Government Consumer
number dividend scale participating composite GIC return of Canada price index
of years interest rate (%) account (%) index* (%) (%) 10-year bonds (%) (%)
5 7.2 4.8** 7.7 2.8 3.7 1.7
(2005 -2009)
10 7.7 n/a 5.6 3.3 4.4 2.1
(2000 – 2009)
15 8.1 n/a 9.3 4.0 5.0 1.9
(1995 – 2009)
20 8.6 n/a 8.1 5.0 5.9 2.1
(1990 – 2009)
30 9.3 n/a 9.4 7.1 7.7 3.4
(1980 – 2009)
Standard
deviation 1.4 n/a 17.0 3.8 3.3 2.9
(since 1980)
* Before applicable management fees.
** This is a three-year average as corporate accounting provisions changed effective Jan. 1, 2007.
All historical average annual returns are geometric means.
NoTES
1. Dividends are not guaranteed. 4. The participating account return is the return on the total
2. Past results should not be considered indicative of participating account assets backing liabilities and surplus after
future performance. investment expense are deducted. In 2009, investment expenses
were 6.1 basis points. Investment expenses may vary from year
3. The dividend scale interest rate is the interest rate used in to year due to changes in the asset mix of the total participating
determining the investment component of the dividend account, economies of scale and other factors. The participating
scale. This rate incorporates the smoothed investment account return is reported for the calendar year Jan. 1, 2009, to
experience of assets backing participating account Dec. 31, 2009. The participating account return is a short-term
liabilities for the most recent 12-month period from July indicator of investment performance. This return is based on
1 to June 30 and also includes the smoothed gains and corporate accounting provisions issued by the Canadian Institute of
losses from prior periods and other factors. It does not Chartered Accountants regarding accounting for financial instruments
include the return on assets backing surplus. Smoothing is (assets) in effect since Jan. 1, 2007, with the exception of unrealized
used as one of the methods to help maintain the stability gains and losses on bonds, which are excluded because bonds in the
of the dividend scale interest rate. Smoothing works by participating account are generally held until maturity. Common stock
bringing gains and losses into the dividend scale interest returns are valued on a marked-to-market basis, that is, not smoothed,
rate over a period of time. and realized gains and losses on bonds are recognized as incurred.
The rate shown applies to policies issued on or after 5. S&P/TSX composite index returns include the reinvestment of
Sept. 16, 1968. These policies have a variable policy loan dividends, as taken from the Canadian Institute of Actuaries Report
rate provision, whereas policies issued before this date on Canadian Economic Statistics, 1924-2009.
have a fixed policy loan rate provision and a different
dividend scale interest rate. 6. Five-year guaranteed investment certificate (GIC) returns are based
on the nominal yields to maturity, taken from Statistics Canada,
The dividend scale interest rate is only one factor of many CANSIM V122526 (Bank of Canada website), Feb. 11, 2010.
that contribute to an individual policy’s performance. For each calendar year, the average of the monthly GIC rates is used.
The actual cash value growth in any policy varies, based
on a number of factors, such as type of product, product 7. Government of Canada bond returns are taken from Statistics Canada,
features, premium-paying period, issue age, rating, CANSIM V122486 (Bank of Canada website), Feb. 11, 2010. For each
dividend option, the policyowner dividend scale and others. calendar year, the average of the monthly values is used.
The dividend scale interest rate only changes when 8. Consumer price index is based on the change from December
the dividend scale changes as a result of investment to December taken from Statistics Canada, CANSIM V41690973
experience, including changes in investment-related (Statistics Canada website) Feb. 11, 2010.
expenses and taxes.
This information is not complete without London Life participating life insurance
financial facts, December 2009, where you can find more information about
the London Life dividend scale interest rate and the participating account.
London Life and design are trademarks of London Life Insurance Company. 46-6780-1/11