Análise financeira da Ecmep Sul, SARL (Delegação de Maputo) face á política de preços praticada pelo governo para o sector de estradas

Abstract

The road network plays an unquestionable role in the development of any country. In Mozambique, it is composed of primary, secondary and tertiary roads, and the maintenance of the tertiary roads has had a major contribution from the Road and Bridge Construction and Maintenance Companies-Ecmep's. Currently, Ecmep's are experiencing financial problems. This study analyzed the Ecmep of Maputo financially with the objective of: (i) to verify whether the company's financial structure is balanced or not; (ii) to verify the company's solvency and ability to generate profitability and (iii) to verify a possible relationship between the State's pricing policy for the road sector and Ecmep-Maputo's financial problems. Regarding the financial structure, the financial autonomy indicator and the degree of coverage of fixed assets by permanent capital were analyzed. The first indicator should be at least 50% to state that the company has a certain financial autonomy in relation to third-party capital. In relation to the second indicator, specialized literature recommends that it should be greater than 100%, which means that permanent capital has financed all fixed assets and also part of the current assets (Meneses. 1996; 122). Next 'the financial structure, the indicators for solvency and profitability are analyzed. Solvency "is the ability of the company to meet its commitments" and this is possible, in principle, if the equity of the company equals or exceeds its liabilities while profitability is defined as the ability to give adequate satisfaction to all those who participate in it, ensure its permanence in the market and the expansion of the activity (Silva and Matos 1989:368). In this study, the expressions profitability and profitability are used synonymously. (TRADUÇÃO NOSSA)