TJMG 21/03/2017 -Fc. 35 -Caderno 2 - Publicações de Terceiros e Editais de Comarcas -Tribunal de Justiça do Estado de Minas Gerais
Publicações de Terceiros e Editais de Comarcas terça-feira, 21 de Março de 2017 – 35
Minas Gerais - Caderno 2
DIRECIONAL ENGENHARIA S/A - Companhia Aberta de Capital Autorizado - CNPJ/MF nº 16.614.075/0001-00 - NIRE: 313.000.258-37
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NOTAS EXPLICATIVAS DA ADMINISTRAÇÃO ÀS DEMONSTRAÇÕES FINANCEIRAS EM 31 DE DEZEMBRO DE 2016 - Em milhares de reais, exceto quando indicado outra forma
DYDORUMXVWRGD&RPSDQKLDHVXDFRQWURODGDVHVWiGLYXOJDGDDEDL[R
Empréstimos e recebíveis
&DL[DHEDQFRV
&RQWDVDUHFHEHU
2XWUDVFRQWDVDUHFHEHU
$WLYRV¿QDQFHLURVDRYDORUMXVWRSRUPHLRGRUHVXOWDGR
Equivalentes de caixa
$SOLFDo}HV¿QDQFHLUDV
2XWURVSDVVLYRV¿QDQFHLURV
)RUQHFHGRUHV
(PSUpVWLPRVH¿QDQFLDPHQWRV
&UHGRUHVSRULPyYHLVFRPSURPLVVDGRV
Nível 1
Nível 2
2016
Total
Nível 1
Consolidado
2015
Nível 2
Total
51.578
51.578
-
-
-
-
-
567.551
-
-
115.668
115.668
-
-
-
-
-
-
Análise de sensibilidade: $&RPSDQKLDHVXDVFRQWURODGDVGHYHPDSUHVHQWDUXPDDQiOLVHGHVHQVLELOLGDGHSDUDFDGDWLSRGHULVFRGHPHUFDGR
RULJLQDGRSRULQVWUXPHQWRV¿QDQFHLURVHFRQVLGHUDGRVUHOHYDQWHVSHOD$GPLQLVWUDomRDRTXDOD&RPSDQKLDHVWHMDH[SRVWDQDGDWDGHHQFHUUDPHQWR
GHFDGDH[HUFtFLR8PDYH]TXHD&RPSDQKLDQmRSRVVXLLQVWUXPHQWRV¿QDQFHLURVGHULYDWLYRVDH[SRVLomRVHGiDSHQDVFRPUHODomRjVYDULDo}HV
GRVtQGLFHVSyV¿[DGRVTXHDIHWDPWDQWRDUHFHLWD¿QDQFHLUDGHFRUUHQWHGDVDSOLFDo}HV¿QDQFHLUDVTXDQWRDGHVSHVD¿QDQFHLUDGHFRUUHQWHGRV
HPSUpVWLPRV3RUWDQWRRVLQVWUXPHQWRV¿QDQFHLURVDWLYRVGD&RPSDQKLDHVXDVFRQWURODGDVHVWmROLYUHVGHULVFRUHOHYDQWHVMiTXHRVPHVPRVVmR
UHPXQHUDGRVjWD[DGR&',HRVHPSUpVWLPRVH¿QDQFLDPHQWRVVmRDWUHODGRVjYDULDomRGD75DFUHVFLGDGHVSUHDG¿[RQRFDVRGH¿QDQFLDPHQWR
jSURGXomR 6)+ DWUHODGRVjYDULDomRGR&',DFUHVFLGDGHVSUHDG¿[RQRFDVRGR/HDVLQJ&5,H'HErQWXUHVDWUHODGRVjYDULDomRGD7-/3H
7-DFUHVFLGDGHVSUHDG¿[RQRFDVRGH¿QDQFLDPHQWRSDUDDTXLVLomRGHHTXLSDPHQWRVYLD%1'(6 ),1$0( HDWUHODGRVDR&',SDUDRV
FDVRVGHHPSUpVWLPRVGHFDSLWDOGHJLUR3DUDID]HUDDQiOLVHGHVHQVLELOLGDGHDFRPSDQKLDVHEDVHRXHPSURMHo}HVGRPHUFDGR¿QDQFHLURSDUDR
DQRGH2LPSDFWRSRVLWLYRRXQHJDWLYRHVWiGHPRQVWUDGRDVHJXLU
31 de dezembro de 2016
Aumento/Redução em percentuais
Efeito no lucro antes dos impostos
Gerenciamento de riscos do negócio: Sistema de controle de risco: 3DUDFRQVHJXLUDGPLQLVWUDUGHIRUPDH¿FLHQWHVHXULVFRD&RPSDQKLD
H[HUFHRFRQWUROHRSHUDFLRQDOGHWRGRVRVHPSUHHQGLPHQWRVHPDQGDPHQWR1RPRGHORGHJHVWmRDFRPSDQKLDFDOFXODDVSHUGDVSRWHQFLDLV
HPVLPXODo}HVGHFRQGLo}HVGHVIDYRUiYHLVSDUDFDGDHPSUHHQGLPHQWRLQGLYLGXDOHSDUDRFRQMXQWRGRVSURMHWRVFRPRXPWRGREHPFRPRD
exposição máxima de caixa exigida. Controle da exposição máxima de caixa: 2VLVWHPDGHFRQWUROHGHULVFRPRQLWRUDDQHFHVVLGDGHIXWXUDGH
FDL[DSDUDH[HFXWDURVHPSUHHQGLPHQWRVSURJUDPDGRVHPFDUWHLUDEDVHDQGRVHHPHVWXGRGHYLDELOLGDGHHFRQ{PLFDGHFDGDHPSUHHQGLPHQWR
EHPFRPRQDQHFHVVLGDGHGHÀX[RVGHFDL[DLQGLYLGXDLVHPUHODomRDRÀX[RGHFDL[DSURMHWDGRGRFRQMXQWRGHHPSUHHQGLPHQWRVFRPRXP
WRGR (VWD SURMHomR DX[LOLD QD GH¿QLomR GD HVWUDWpJLD GH ¿QDQFLDPHQWR H QD WRPDGD GH GHFLV}HV HP UHODomR j VHOHomR GH HPSUHHQGLPHQWRV
Gerenciamento de risco de demanda: 3RUPHLRGRFRQKHFLPHQWRGHPHUFDGRHFRPDFRQWULEXLomRGHSDUFHLURVORFDLVD'LUHFLRQDOFRQVHJXH
LGHQWL¿FDU D GHPDQGD SRU QRYRV HPSUHHQGLPHQWRV HP GLIHUHQWHV UHJL}HV EHP FRPR D IDL[D GH UHQGD GRV SRWHQFLDLV FRPSUDGRUHV D VHUHP
DWHQGLGRV2VODQoDPHQWRVVmRGH¿QLGRVHPIXQomRGRSRWHQFLDOTXHFDGDUHJLmRDSUHVHQWDSDUDDEVRUYHUGHWHUPLQDGDTXDQWLGDGHGHLPyYHLVH
UHVSRQGHUjVYDULDo}HVGHSUHoR$&RPSDQKLDQmRSUHWHQGHDWXDUHPPHUFDGRVHPTXHQmRH[LVWDPGDGRVFRQ¿iYHLVGLVSRQtYHLVSDUDDQiOLVHGH
SRWHQFLDOGHPHUFDGR'HVWHPRGRDFUHGLWDUHGX]LURULVFRGHGHPDQGDGHVHXVODQoDPHQWRVRiscos operacionais: 2JHUHQFLDPHQWRGHULVFRV
RSHUDFLRQDLVpGHVHQYROYLGREDVLFDPHQWHSRUPHLRGRDFRPSDQKDPHQWRSHUPDQHQWHGRGHVHQYROYLPHQWRGRVHPSUHHQGLPHQWRVQRWRFDQWHj
H[HFXomRGRFURQRJUDPDItVLFR¿QDQFHLURGDVREUDVHPUHODomRDRSODQHMDPHQWRLQLFLDOGDDXGLWRULD¿QDQFHLUDHFRQWiELOUHDOL]DGDSRUHPSUHVD
LQGHSHQGHQWHGHDXGLWRULDGDDQiOLVHFULWHULRVDGHULVFRVMXUtGLFRVHGRULVFRGHFUpGLWRGRVDGTXLUHQWHVGHXQLGDGHVPHGLDQWHDJHVWmRDWLYD
GRVUHFHEtYHLVGRVHPSUHHQGLPHQWRVGestão do Capital Social: 2ULVFRGHJHVWmRGRFDSLWDODGYpPGDHVFROKDGD&RPSDQKLDHPDGRWDUXPD
HVWUXWXUDGH¿QDQFLDPHQWRVSDUDVXDVRSHUDo}HV$&RPSDQKLDDGPLQLVWUDVXDHVWUXWXUDGHFDSLWDODTXDOFRQVLVWHHPXPDUHODomRHQWUHDGtYLGD
¿QDQFHLUDHRFDSLWDOSUySULR 3DWULP{QLR/tTXLGROXFURVDFXPXODGRVHUHVHUYDVGHOXFURV EDVHDGDHPSROtWLFDVLQWHUQDVHEHQFKPDUNV2V
LQGLFDGRUHVFKDYHUHODFLRQDGRVDHVWHREMHWLYRVmR :$&& &XVWR0pGLR3RQGHUDGRGR&DSLWDO 'tYLGD/tTXLGD(%,7'$H'tYLGD/tTXLGD
3DWULP{QLR/tTXLGR$'tYLGD7RWDOpIRUPDGDSHORV(PSUpVWLPRVH)LQDQFLDPHQWRV QRWD $&RPSDQKLDSRGHDOWHUDUVXDHVWUXWXUDGHFDSLWDO
FRQIRUPHFRQGLo}HVHFRQ{PLFR¿QDQFHLUDVYLVDQGRDSHUIHLoRDUVXDDODYDQFDJHP¿QDQFHLUDHVXDJHVWmRGHGtYLGD$&RPSDQKLDLQFOXLGHQWUR
GDHVWUXWXUDGH'tYLGD/tTXLGD (PSUpVWLPRVH¿QDQFLDPHQWRVPHQRV&DL[DH(TXLYDOHQWHGH&DL[D
Consolidado
Descrição
2016
2015
(PSUpVWLPRVH¿QDQFLDPHQWRV
&DL[DHHTXLYDOHQWHGHFDL[D
$SOLFDo}HV¿QDQFHLUDV
Dívida Líquida
3DWULP{QLR/tTXLGR
Patrimônio Líquido e Dívida Líquida
Ativos dados em garantia: 2VDWLYRVGDGRVHPJDUDQWLDUHODWLYRVDRVHPSUpVWLPRVH¿QDQFLDPHQWRVHVWmRGLYXOJDGRVQD1RWD H1RWD$
&RPSDQKLDHVXDVFRQWURODGDVPDQWpPGHSyVLWRVMXGLFLDLVHPGHGH]HPEURGHQRPRQWDQWHGH5 GHGH]HPEURGH±5
FRPRSDUWHGHGLVFXVVmRGHVHXVSDVVLYRVFRQWLQJHQWHV
22 Plano de Opção de Compra de Ações e de Incentivo Atrelado a Ações da Companhia
Remuneração em opções de compra de ações: (PDVVHPEOHLDJHUDOH[WUDRUGLQiULDUHDOL]DGDHPGHGH]HPEURGH RVDFLRQLVWDVGD
&RPSDQKLD DSURYDUDP XP SODQR GH RSomR GH FRPSUD GH Do}HV HVWDEHOHFHQGR DV UHJUDV H FRQGLo}HV SDUD RXWRUJD GH RSo}HV D HPSUHJDGRV
DGPLQLVWUDGRUHVH[HFXWLYRVHFRODERUDGRUHVFRPREMHWLYRGHDWUDtORVPRWLYiORVHUHWrORVEHPFRPRDOLQKDURVVHXVLQWHUHVVHVFRPRVGD
&RPSDQKLDHGHVHXVDFLRQLVWDV)RUDPFULDGRVGRLVSURJUDPDVHQJOREDQGRXPWRWDOGHGHRSo}HVFRUUHVSRQGHQGRDLGrQWLFRQ~PHUR
GHDo}HV2&RQVHOKRGH$GPLQLVWUDomRMiRXWRUJRX RSo}HVGDVTXDLVIRUDPHIHWLYDPHQWHH[HUFLGDVHIRUDP
FDQFHODGDV2TXDGURDVHJXLUDSUHVHQWDDPRYLPHQWDomRGDVRSo}HV
Programa 1
Programa 2
D
5
DRDQR
D
5
DRDQR
Ano de Outorga
4XDQWLGDGHWRWDOGHRSo}HV $
3UHoRGH([HUFtFLR
3UD]RGHDTXLVLomR vesting period
Movimentação das opções
2So}HVRXWRUJDGDV %
2So}HVH[HUFLGDV
2So}HVFDQFHODGDV &
2So}HVHPFLUFXODomR
78.000
20.000
6DOGRGHRSo}HVDRXWRUJDU
3UHoRGHH[HUFtFLRFRQVLGHUDFRUUHomRGRSUHoRGHHPLVVmRSHOR,3&$DWpEHPFRPRDMXVWHGHYLGRDRSDJDPHQWRGHGLYLGHQGRV
GH5DomRHPPDLRGH5DomRHPIHYHUHLURGH5DomRHPMXQKRGH5DomRHPPDLRGH5
DomRHPPDLRGH5DomRHPQRYHPEURGH5DomRHPPDLRGH5DomRHPDJRVWRGHH5
DomRHPMXOKRGH
2&RQVHOKRGH$GPLQLVWUDomRQmRSRGHRXWRUJDUQRYDVRSo}HVQRV3ODQRVRXGDGRTXHRSUD]RGHYLJrQFLD
H[SLURXHP2YDORUMXVWRGDV~OWLPDVRSo}HVRXWRUJDGDVIRLFDOFXODGRFRPEDVHQDPHWRGRORJLD%ODFN 6FKROHVFRQVLGHUDQGRXPD
YRODWLOLGDGHKLVWyULFDGH WD[DGHMXURVGH DDHRVSUHoRVGHH[HUFtFLRUHVSHFWLYRVGHFDGDSURJUDPD2YDORUMXVWRPpGLRGDV
RSo}HVGR3URJUDPDIRLHVWLPDGRHP5 HDVGR3URJUDPDHP5FDGD&DVRRVEHQH¿FLiULRVGRWRWDOGDVRSo}HVGR3URJUDPDH
MiRXWRUJDGDVHDLQGDQmRH[HUFLGDVH[HUoDPVXDVRSo}HVDGLOXLomRPi[LPDGDSDUWLFLSDomRGRVDWXDLVDFLRQLVWDVVHUiGHRemuneração
Baseada em Ações (“Programa de Matching”): (PUHXQLmRGR&RQVHOKRGH$GPLQLVWUDomRUHDOL]DGDHPGHPDLRGHIRLDSURYDGR
RUHJXODPHQWRGRSURJUDPDGHLQFHQWLYRDWUHODGRDDo}HVGD'LUHFLRQDO(QJHQKDULD6$ ³3URJUDPDGHMatching´ FRQIRUPHDOWHUDGRHP
UHXQLmRUHDOL]DGDHPGHMXOKRGH23URJUDPDHVWDEHOHFHDVUHJUDVHFRQGLo}HVSDUDRXWRUJDGRGLUHLWRGHFRPSUDGH$o}HVHFRQFHVVmR
GHDo}HVGHLQFHQWLYRDDGPLQLVWUDGRUHVHHPSUHJDGRVGD&RPSDQKLDHRXGDV6RFLHGDGHVGH3URSyVLWR(VSHFt¿FRHPTXHD&RPSDQKLDWHQKD
SDUWLFLSDomR ³%HQH¿FLiULRV´ SUHYLDPHQWHVHOHFLRQDGRVSHOR&RQVHOKRGH$GPLQLVWUDomRFRPREMHWLYRGHDWUDtORVPRWLYiORVHUHWrORVEHP
FRPRDOLQKDURVVHXVLQWHUHVVHVFRPRVGD&RPSDQKLDHGHVHXVDFLRQLVWDV
3DUDSDUWLFLSDUGR3URJUDPDGHMatchingRV%HQH¿FLiULRVGHYHUmRDGTXLULUDo}HVRUGLQiULDVGHHPLVVmRGD&RPSDQKLDHPTXDQWLGDGHHSUD]R
GH¿QLGRVLQGLYLGXDOPHQWHSHOR&RQVHOKRGH$GPLQLVWUDomR3DUDFDGDDomRRUGLQiULDGD&RPSDQKLDDGTXLULGDSHORV%HQH¿FLiULRVGR3URJUDPD
de MatchingD&RPSDQKLDRXWRUJDUiDRV%HQH¿FLiULRVGXDVDo}HVRUGLQiULDVGD&RPSDQKLDVHQGRTXHDHQWUHJDVHUiUHDOL]DGDHPORWHVGH
GRWRWDOGHDo}HVDRORQJRGHTXDWURDQRV3DUDTXHR%HQH¿FLiULRIDoDMXVDRUHFHELPHQWRGDVDo}HVGHLQFHQWLYRDR¿QDOGHFDGD3HUtRGRGH
&DUrQFLDHOHQmRSRGHUiWHUDOLHQDGRRXWUDQVIHULGRWRWDORXSDUFLDOPHQWHDVDo}HVGHWLGDVSRUWDO%HQH¿FLiULRGR1RYR3ODQRLQFOXVLYHDTXHODV
UHFHELGDVHPUD]mRGRWpUPLQRGH3HUtRGRVGH&DUrQFLDDQWHULRUHV$VTXDQWLGDGHVGHDo}HVRXWRUJDGDVSUD]RVGHFDUrQFLDHH[HUFtFLRDSURYDGRV
SHOR&RQVHOKRGH$GPLQLVWUDomRHVWmRFRPHQWDGRVDVHJXLU
Programa Matching
2015
TXDWUR DQRVVHQGRDRDQRDSDUWLUGHGHGH]HPEURGH
Ano de Outorga
2016
Prazo para transferência das ações
Movimentação das Ações Outorgadas
7RWDOGHDo}HVRXWRUJDGDV $
506.000
2XWRUJDVDWLYDGDVSRUDTXLVLomRGHDo}HV
2XWRUJDVQmRDWLYDGDVSRUDTXLVLomRGHDo}HV %
61.200
2XWRUJDVFDQFHODGDV &
$o}HVHQWUHJXHVDRV%HQH¿FLiULRV '
12.126
2XWRUJDVYLJHQWHV $ ± % ± & ± '
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WD[DGHMXURVGHDDHRSUHoRGHH[HUFtFLRGH51RH[HUFtFLR¿QGRHPGHGH]HPEURGHIRLSURYLVLRQDGDDGHVSHVDQR
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RVEHQH¿FLiULRVUHFHEDPDWRWDOLGDGHGDVDo}HVRXWRUJDGDVHDLQGDQmRHQWUHJXHVDGLOXLomRPi[LPDGDSDUWLFLSDomRGRVDWXDLVDFLRQLVWDVVHUiGH
DIRETORIA
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Aos Administradores e Acionistas
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Assuntos
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Por que
é um PAA?
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em maiores detalhes na Nota 2.16. Nossa opinião não está ressalvada em função desse assunto.
Principais Assuntos de Auditoria: 3ULQFLSDLV $VVXQWRV GH $XGLWRULD 3$$ VmR DTXHOHV TXH HP QRVVR MXOJDPHQWR
Como o
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assunto foi
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conduzido
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Porque é um PAA
Reconhecimento da receita de venda das unidades imobiliárias
em construção (notas explicativas 2.16 (b) e 18)
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de venda a ser reconhecido em cada período.Essa área foi considerada
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reconhecimento de receita envolve julgamento da administração
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estimativas podem impactar de forma relevante o resultado do
exercício.
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casos em que considera que haverá perda provável e divulga aqueles
cujas expectativas de perda foram avaliadas como risco possível.
Essa área foi foco de nossa auditoria porquanto os processos
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