KPMG's Top 100 Companies in Mozambique Survey

kpmg.co.
mz
2 / XV edio / edition
The sixteenth edition / A dcima sexta edio / 1
2 / A dcima sexta edio / The sixteenth edition
ndice / Table of contents

Prefcio .................................................................................................................................................... 06
Preface
KPMG Moambique, 25 Anos Agregando Valor e Excelncia ....................................................... 08
KPMG Mozambique, 25 Years of Delivering Value and Excellence
Glossrio e Lista de Abreviaturas ................................................................................................. 12
Glossary and Listo f Abbreviations
Introduo .................................................................................................................................... 14
Introduction
As Melhores empresas de Moambique ............................................................................. 20
The best companies of Mozambique
Anlise Macroeconmica (Internacional e Nacional) ..................................................... 28
Macroeconomic Analysis (International and National)
Propriedade Ownnership:
KPMG
Patrono Patron: Sua Excelncia
Joaquim Alberto Chissano.
Ranking das 100 Maiores Empresas, Medias e Pequenas Empresas de
Scios da KPMG KPMG
Moambique em Meticais ........................................................................................ 60
Partners: Filipe Mandlate;
Ranking for the Top 100 Companies, Medium and Small Companies in Mozambique
Quintino Coto; Miguel Alvim;
in Meticais
Abel Guaiaguaia; Andr Olivena;
Miesh Al-Gasant; Hendrik van
Ranking das 100 Maiores Empresas de Moambique em Dolares US ............ 68
Heerden eYussuf Mohamed. Equipa
The Top 100 Companies in Mozambique in US Dollars
de Gesto Management Team: Binit
Anlise Sectorial ............................................................................................... 74
Varajids e Praise Karuma. Direco
Sector Analysis
do Projecto Project Partner: Filipe
Mandlate. Coordenao Logstica,
Perfil dos Scio da KPMG em Moambique .......................................... 126
Imagem e Evento Logistic, Image and
Partners profiles, KPMG in Mozambique
Event Coordinator: Praise Karuma, Malisa
Chutumia e DDB Moambique. Anlise
dos Dados Data Analysis: Baptista Lalane.
Recolha de Dados da Pesquisa Data Collection:
Drcio Maumana;Wendy Massavanhane
e Judy Jamine. Colaboradores da Pesquisa
Survey Collaborators: Angelina Vaz; Asslam
Osman; CelsoTamele; Christelle Mupenda;
Drcio Maumana; Hlio Macie; Iolanda Cal; Judy
Jamine; Juliana Penicela; Mrcia Zunguze; Naira
Golam; Nelson Melo; Philip Mazengera; Sonali
Himatlal;Tendai Mukombiwa;Walter Mandlate;
Wendy Massavanhane. Editor Publisher: KPMG
Moambique. Coordenao Comercial Commercial
Coordination: DDB Moambique.Tradutora Externa
External Translator: Catharine Muhate.Tradutor Oficial
da KPMG KPMG Sworn Translator: Jos Simes. Projecto
Grfico, Direco Grfica e de Arte Grafic Projec and
Layout: Praise Karuma e DDB Moambique. N de Registo /
Registration Number: 020/Gabinfo-DE/03
Anlise Agregada ............................................................................................................ 44

Aggregate Analysis
Prefcio Preface
Uma conquista
ano aps ano com
sucesso!
Conquering success,
year after year!
Filipe Mandlate
Director Geral | Country Managing Partner
Carssimos leitores,
Dear readers,
Por ocasio do lanamento da XVI Edio da Pesquisa

sobre as 100 Maiores Empresas de Moambique, a KPMG
sada o pblico leitor desta revista com elevada estima.
On the occasion of the launch of the Top 100 Companies XVI Edition in Mozambique, KPMG welcomes, with great
regard, the readers of this report.
A presente Edio analisa o comportamento das principais

empresas que operam no Mercado Moambicano em
2013, ano que foi envolvido por muita expectativa na rea
empresarial nacional e, que teve como principal destaque
as Eleies Gerais.
This edition analyses the behaviour of the main companies

operating in the Mozambican market in 2013, a year in
which much anticipation surrounded the business world
and the nation with the main focus the General Elections.
Nesta pesquisa esto reflectidos os esforos dos

principais operadores econmicos dirigidos por gestores
que acreditam no crescimento do Pas, motivados pelo
aproveitamento das oportunidades que lhes so oferecidas
pelo ambiente de negcios e o desejo de atingir as suas
metas com sucesso.
A nossa pesquisa no se limita apenas em promover um
ambiente transparente de desenvolvimento de negcios,
ela promove igualmente a imagem das principais
empresas que operam no nosso pas, atravs das anlises
comparativas que nela so feitas.
A KPMG em Moambique orgulha-se por fornecer ao
pblico esta importante ferramenta de anlise da situao
financeira das empresas e aproveita a oportunidade
para reiterar o seu compromisso de transformar o
conhecimento em valor em benefcio da sociedade.
Felicitmos aos gestores das empresas participantes nesta
pesquisa pelo seu entusiasmo e confiana no futuro.
A KPMG expressa agradecimentos a todos que directa ou
indirectamente contriburam para que esta pesquisa seja
realizada.
O sucesso desta pesquisa uma homenagem aos
colaboradores da KPMG, empresas participantes, os
patrocinadores, parceiros do projecto, a DDB, Lda pela
sua colaborao comercial, gesto grfica bem como
pela coordenao do evento, na verdade o seu apoio
e dedicao so claramente observados e merecem
apreciao.
This study reflects the efforts of the main economic

operators, led by managers who believe in the growth of
the country and motivated by the opportunities offered
to them by the business environment and the desire to
successfully achieve their goals.
Our research is not limited to promoting a transparent
business development environment, it also promotes
the image of the main companies operating in our
country through the comparative analyses that have been
performed in it.
KPMG in Mozambique prides itself on providing the public
with this important tool for the analysis of the financial
situation of companies and takes this opportunity to
reiterate its commitment to transform knowledge into
value for the benefit of society. We congratulate the
managers of the companies participating in this survey for
their enthusiasm and confidence in the future.
KPMG expresses thanks to all those who directly or
indirectly contributed to the completion of the research.
The success of this survey is a tribute to KPMG
employees, participating companies, sponsors, project
partners and DDB Ltd for their business collaboration,
graphics management and the coordination of the event,
indeed their support and dedication are clearly evident and
deserves appreciation.
A KPMG auditou e continua a auditar as principais empresas

lderes do Pas, auditando as principais empresas cotadas
na Bolsa de Valores de Moambique.Temos credibilidade
e prestgio no mercado e como resultado disso, temos
vindo a ganhar prmios anualmente como a melhor
firma de contabilidade e auditoria (PMR). Vencer estes
prmios no tarefa fcil e estamos muito orgulhosos das
nossas conquistas e de nossa equipa que tem trabalhado
incansavelmente para vencer estes prestigiados prmios.
Temos imenso orgulho em ser a primeira firma das
tradicionais Big 4 que oferece e continua a oferecer uma
vasta gama completa de servios de consultoria. A nossa
linha de servios de consultoria compreende quatro reas
distintas, nomeadamente,Transaces e Reestruturaes,
Consultoria de Gesto, Consultoria de Risco e Servios
de Consultoria em Desenvolvimento Internacional, sendo
a nossa principal vantagem no mercado o conjunto de
conhecimentos relevantes que possumos a nvel interno.
Podemos afirmar definitivamente que transformamos
e continuamos a transformar-nos para manter a
liderana no sector de consultoria, oferecendo solues
multidimensionais aos nossos clientes
KPMG Moambique, 25
Anos Acrescentando
Valor e Excelncia
KPMG Mozambique, 25
Years Delivering Value
and Excellence
O ano de 2015 um marco significativo para KPMG em Moambique, que celebra o seu 25
aniversrio. Por isso, sem dvida, a KPMG a maior e mais antiga firma de contabilidade e
auditoria das tradicionais Big 4 e com muito orgulhoso este sucesso foi alcanado conjuntamente
com os nossos intervenientes ao longo dos ltimos 25 anos, mas continuando igualmente a
trabalhar arduamente para alcanar e contribuir ainda mais para o futuro de Moambique.
The year 2015 marks a significant milestone for KPMG in Mozambique, being the firms 25th anniversary.
Hence, without doubt, KPMG is the largest and longest established of the traditional Big 4 accounting
firms and tremendously proud of what we have with our stakeholders achieved over the past 25 years but,
also continuing to work hard to achieve and contribute even more to the future of Mozambique.
Falar dos 25 anos da KPMG, falar de 25 anos de
sucesso, pois o seu crescimento notvel no nmero de
profissionais, volume de negcios, carteira de clientes e
variedade de servios.
A KPMG Moambique iniciou as suas actividades em
Maputo em Julho de 1990 com seis colaboradores, mas
hoje conta com cerca de 295 profissionais e igualmente
a primeira firma das tradicionais Big 4 a estabelecer
escritrios nas provncias de Nampula, Cabo Delgado e
Zambzia. Hoje, a nossa prestigiada equipa possui um
equilbrio saudvel entre a equipa local e expatriados com
experincia necessria internacional e local para acrescentar
aquele toque especial da KPMG na nossa base de clientes
diversificada. Por isso, nos ltimos 25 anos fomos e
continuamos a ser abenoados com competncias que os
nossos colaboradores possuem e o valor que demonstrado
continuamente nos nossos trabalhos.
Talking about the first 25 years at KPMG, is talking about 25

years of success, our growth is unmatched in the number of
professionals, revenue, customer base and range of services.
KPMGs Mozambican journey began in Maputo in July 1990
with six employees but, has today grown to approximately
295 professionals and including being the first of the
traditional Big 4 firms to establish offices in the provinces
of Nampula, Cabo Delgado and Zambezia. Today, our staff
compliment boasts a healthy balance between local and expat
staff with the necessary international and local experience to
add that KPMG touch to our diversified client base. Hence,
we have in the past 25 years been blessed and continue to be
blessed with skills that our staff possess and the value that
they continuously bring to engagements.
Quando iniciamos as nossas actividades em 1990, a linha

de servios de fiscalidade e legal constitua a espinha
dorsal da nossa firma e compreendia a maior parte
dos servios que prestamos. Hoje, esta linha de servios
continua a ser um contribuinte significativo para a nossa
firma como um todo e temos o orgulho de afirmar que os
clientes que iniciaram h 25 anos connosco continuam
hoje em dia como nossos clientes.
Os nossos primeiros 25 anos foram marcados por muitos
momentos memorveis, mas, sem dvida, o lanamento
da primeira edio anual da pesquisa sobre as 100 Maiores
Empresas de Moambique h 16 anos foi um marco
significativo. Esta pesquisa anual continua a melhorar
e uma referncia para os intervenientes a nvel local e
internacional. Alm disso, a KPMG desenvolveu igualmente
a pesquisa sobre o ndice de Ambiente de Negcios e ainda a
Pesquisa sobre o Sector Bancrio, e estas pesquisas serviram
e servem como ferramentas para vrios intervenientes. A
qualidade e o contedo das pesquisas acima mencionadas
reforam a posio da KPMG no mercado moambicano
como o melhor parceiro de negcios.
Na KPMG, a Responsabilidade Social sempre foi e
continua a ser de extrema importncia. Acreditamos
que o trabalho do cliente e o servio comunitrio
complementam-se reciprocamente e ao mesmo tempo
temos contribudo consideravelmente para a comunidade
em geral ao longo dos ltimos 25 anos, precisamos e
faremos mais nos prximos 25 anos.
Muitas entidades foram obrigadas a redimensionar as suas
operaes, mas tendo em conta o 25 aniversrio da KPMG,
vemos este desafio como uma oportunidade para rever
nossas operaes de negcios a fim de nos reposicionar
e sobressair neste mercado cada vez mais dinmico e
competitivo. Com este desafio, o nosso 25 aniversrio
simboliza crescimento e muita experincia no que diz
respeito aos servios prestados pela KPMG.
KPMG has audited and continues to audit the leading

companies in the Country including, being auditor to a
majority of the companies listed on the Mozambican
Stock Exchange. We have credibility in the market and
prestige and as a result, have won awards every year as
the best accounting and audit firm (PMR). To achieve these
honours is no easy task and we are immensely proud of our
achievements and of our staff that have worked tirelessly in
order for us to achieve these noteworthy accolades.
We are immensely proud that we were the first of the
traditional Big 4 firms to offer and continue to offer the full
range of advisory services. Our advisory service line has
four distinct silos within advisory which are Transactions and
Restructuring, Management Consulting, Risk Consulting and
International Development Advisory Services and our market
edge is that we have all the relevant expertise in-house. We
would definitely say that we have transformed and continue
to transform ourselves to maintain leadership in the advisory
sector by offering clients multidimensional solutions.
When we started out in 1990, our tax and legal compliance
service line was definitely the backbone of our firm and
constituted the majority of services that we provided. Today,
this service line remains a significant contributor to our firm as
a whole and we are proud to say that clients that were with us
25 years ago, are still with us today.
Our first 25 years has had many memorable moments but,
undoubtedly the launch of the first annual edition of the
Top 100 Companies in Mozambique Survey 16 years ago
is a significant milestone. This annual survey continues to
improve and to be a reference for decision makers both
locally and internationally. Further, KPMG has also developed
the Business Confidence Index and the Banking Survey
again, both these publications have become the tools to
have for decision makers. The quality and content of the
aforementioned surveys reinforce KPMG in the Mozambican
market as the business partner of choice.
At KPMG, Corporate Social Responsibility has always been
and continues to be of utmost importance. We believe that
client work and community service complement each other
and whilst we have contributed much to the wider community
over the past 25 years, we need to do and will do more for the
next 25 years.
Many entities have been forced to rescale operations but,
as KPMG turns 25, we see this as an opportunity to review
our business operations in order to reposition ourselves and
excel in the dynamic and competitive marketplace. With this
challenge, we do not see ourselves as 25 years old but, as
25 and counting and continuing to be the standard setters in
everything we do.
Pesquisa da KPMG sobre as

100 Maiores Empresas de
Moambique
KPMGs Top 100 Companies
in Mozambique survey
Glossrio
Glossary
Introduo
Introduction
As Melhores empresas de Moambique
The best companies of Mozambique
Anlise Macroeconmica
Macroeconomic Analysis
Anlise Agregada
Aggregate Analysis
Glossrio
Glossary
Activo Corrente um activo classificado

como corrente quando:
classificao das empresas prescrito no

Decreto no. 44/2011:
Current Asset an asset is classified as

current when:
the classification of businesses as

prescribed in decree no 44/2011:
guardado primariamente com

o propsito de ser comercializado
(mercadorias).
Pequena Empresa: de 5 a 49
Trabalhadores; Volume de Negcios de
MZN 1.200.000,00 a MZN 14.700.000,00
It is held primarily for the purposes of

being sold (merchandise)
Small Enterprise: from 5 to 49

employees; Revenues from MZN
1.200.000,00 to MZN 14.700.000,00
Espera-se que seja realizado num

perodo mximo de 12 meses aps
o ltimo balano (clientes e outros
devedores).
Mdia Empresa: de 50 a 100

Trabalhadores; Volume de Negcios
de MZN 14.700.000,00 a MZN
29.970.000,00.
Trata-se de caixa e equivalentes de caixa

aos quais o seu uso no seja restrito
(caixa e bancos).
Rentabilidade dos Activos Lquidos o

rcio dos resultados lquidos sobre os
activos lquidos, em percentagem.
ActivoTotal Lquido total do valor do

activo corrente e no corrente lquido de
amortizaes e provises referentes s
diversas rubricas do activo do balano.
As amortizaes aplicam-se ao activo
no corrente, enquanto as provises se
aplicam ao activo corrente/circulante.
Rentabilidade do Volume de Negcio

o rcio dos resultados lquidos sobre o
volume de negcio, em percentagem.
Capitais Prprios Mdios constituem os

capitais prprios do ano corrente e do ano
anterior, divididos por dois.
Resultado Lquido corresponde ao lucro

ou prejuzo obtido pela empresa aps
a deduo dos impostos que sobre ela
incidem.
Custos Operacionais incluem toda

a classe de custos do Plano Geral de
Contabilidade com excepo dos
Encargos Financeiros e dos Custos
das Vendas. Para os bancos, resulta
do somatrio de custos com pessoal,
fornecimentos e servios de terceiros,
amortizaes e outros. Para as
seguradoras consideram-se os prmios
de resseguros cedidos, indemnizaes
de seguros directos e resseguros aceites,
comisses e outros custos de explorao.
Fundos Prprios referem-se ao total do
capital social, dos prmios de emisso,
das reservas, dos resultados transitados e
dos resultados do exerccio.
Liquidez Geral corresponde ao rcio do
activo corrente sobre o passivo corrente.
Nmero deTrabalhadores nmero de
trabalhadores efectivos.
Passivo Corrente Diz respeito aos dbitos
da empresa que necessitam de ser pagos
dentro de 12 meses aps o ltimo balano.
Como exemplos temos os emprstimos
pagveis dentro de um ano, descobertos
bancrios, fornecedores, antecipaes
passivas, Estado (impostos e outros) e
outros dbitos decorrentes da actividade
operacional da empresa.
PassivoTotal total do passivo corrente e
no corrente da empresa.
Pequenas e Mdias Empresas (PMEs)
foi utilizado o critrio nacional de
Rentabilidade dos Capitais Prprios

o rcio dos resultados lquidos sobre
os capitais prprios mdios do ano, em
percentagem.
Resultado antes de Impostos

corresponde ao resultado bruto obtido
pela empresa antes da deduo dos
impostos que sobre ela incidem.
Taxas de Cmbio como tem sido prtica
habitual, no clculo dos valores da tabela
do ranking em Dlares Americanos, foram
usadas para 2013 as seguintes taxas:
o volume de negcio, os resultados
lquidos e os custos operacionais foram
convertidos usando a taxa de cmbio
mdia anual de USD/MZN 29.91 (Banco
de Moambique);
os activos lquidos e os capitas prprios
mdios foram convertidos usando as
taxas de cmbio do final do ano USD/
MZN 29.95 (Banco de Moambique).
Volume de Negcio proveito total
do exerccio, por exemplo, toda a
classe de proveitos do Plano Geral de
Contabilidade. Para os bancos constitui
o resultado do somatrio da margem
financeira antes das provises, lucros
lquidos em operaes financeiras e
proveitos lquidos de comisses. Para as
empresas seguradoras inclui os fundos de
prmios de seguros directos e resseguros
aceites, comisses, indemnizao de
resseguros cedidos e outros proveitos de
explorao.
Volume de Negcio porTrabalhador
volume de negcio dividido pelo nmero
de trabalhadores efectivos.
It is expected to be realised within a

maximum period of twelve months
of the balance sheet date (clients
and other debtors)
It is cash or cash equivalent for which
use is unrestricted (cash and bank)
Total Net Assets the total value
of current assets and fixed (non
current) assets net of depreciation
and provisions relating to the various
asset headings in the balance sheet.
Depreciation applies to the fixed
assets while provisions apply to
current (circulating) assets.
Medium Enterprises: from 50 to

100 Employees; Revenues from
MZN 14.700.000,00 to MZN
29.970.000,00.
Return on Net Assets is the ratio
of net results over net assets, as a
percentage.
Revenues is the ratio of net results
over business volume as a percentage.
Return on Equity Capital is the
ratio of net profitability results over
the average annual equity capital, as a
percentage.
Average Equity Capital is the sum of

the equity capital of the current year and
the previous year, divided by two.
Net results corresponds to the profit

or loss obtained by the company after
the deduction of related taxes.
Operational Costs includes all

the classes of costs in the General
Accountancy Schedule with the
exception of the Finance Charges and
Cost of Sales. For banks, it is the sum
of the costs of personnel, supplies and
services from 3rd parties, depreciation
and others. Insurance companies take
into account re -insurance premiums
given up, indemnities of insurance
rights and reinsurances accepted,
commissions and other running costs.
Results beforeTax corresponds to the

gross result obtained by the company
before deduction of related taxes.
Shareholders capital constitutes the

total of equity capital, premium issues,
reserves brought forward and those
resulting from the current years activities.
General Liquidity corresponds to
the ratio of current assets over current
liabilities.
Number of employees number of
permanent employees
Current Liabilities Relates to the
debts of a business that are due to be
paid within 12 months of the date of the
last balance sheet. For example loans
payable within one year, bank overdrafts,
suppliers, anticipated liabilities, State
(taxes and others) and other debts
resulting from the operational activities of
the company.
Total Liabilities total of current and
long term liabilities of the company
Small and Medium Enterprises
(SMEs) uses the national criteria for
Exchange Rates as has been

customarily practiced, for the calculation
of the values in the table for ranking
table in American Dollars the following
rates were used for 2013: the volume of business, net
results and operational costs were
converted using the average annual
exchange rate of USD/MZN 29.91
(Bank of Mozambique)
the current assets and the average
equity capital were converted using
the exchange rate at the end of
the year USD/MZN 29.95 (Bank of
Mozambique).
Revenue the total income for the
year, for example all the income
classes of the General Schedule of
Accounting. For the banks it comprises
the financial margin before provisions,
net profits from financial operations
and net income from commissions.
For insurance companies it includes
the premium on insurances, direct and
accepted reinsurances, commissions,
indemnities on reinsurance granted and
other operating income.
Revenue per employee volume of
business divided by the number of
permanent employees.
Lista de Abreviaturas
List of Abbreviations
BM Banco de Moambique / Bank of
Mozambique
BTs Bilhetes doTesouro/Treasury Bonds
CEMPRE (2005) Censo de Empresas
(2005) / Company Census (2005)
CPI Centro de Promoo de Investimentos
/ Investment Promotion Centre
EUA Estados Unidos da Amrica/United
States of America
FMI Fundo Monetrio Internacional /
IMF International Monetary Fund
FPA Facilidade Permanente de Absoro
/ Marginal Absorption Facility
FPC Facilidade Permanente de Cedncia/
Marginal Lending Facility
IDE Investimento Directo Estrangeiro/
Direct Foreign Investment
IDN Investimento Directo Nacional /
Direct National Investment
INE Instituto Nacional de Estatstica/
National Statistics Institute
IPC ndice de Preos ao Consumidor/
Consumer price index
IRPC Imposto Sobre o Rendimento das
Pessoas Colectivas/Corporation tax
M2 Massa Monetria/Money Supply
MAIBOR Maputo Interbank Offered Rate
MT Meticis / Metical
n.a. no aplicvel (ou por falta de
informao, ou pela empresa possuir
apenas 1 ano de actividade ou ainda pelo
facto da empresa no ter participado na
pesquisa do ano anterior) / not applicable
(either due to lack of information or because
the company is in business for 1 year only, or
even because the company did not take part
in the previous year research)
n.d. dado no disponvel / data not
available
PES Plano Econmico e Social /
Economic and Social Plan
PIB Produto Interno Bruto / GDP Gross
Domestic Product
PMEs Pequenas e Mdias Empresas/
SMEs - Small and Medium Enterprises
pp pontos percentuais / percentage points
PVDs Pases em Vias de
Desenvolvimento / Developing countries
SADC Comunidade de
Desenvolvimento da frica Austral/
Southern African Development Community
TAMs Ttulos da Autoridade Monetria/
Monetary Authority Bonds
USD Dlar Norte-americano / US Dollar
ZAR Rand
Introduo
Introduction
A KPMG continua a oferecer

comunidade empresarial
moambicana uma ferramenta de
anlise que apoie na tomada de
decises empresariais, assegurando
a sua sobrevivncia num mercado
cada vez mais competitivo, bem como
fornecer uma base de anlise credvel.
com imenso orgulho que lembramos
que a KPMG em Moambique foi
a primeira empresa de Auditoria e
Consultoria a firmar-se no mercado
nacional, fornecendo uma vasta gama
de servios destacando-se Consultoria,
Auditoria, Contabilidade e, Assessoria
Fiscal e Jurdica.
A KPMG apresenta este ano a XVI
Edio da pesquisa sobre As 100
Maiores Empresas de Moambique. De
lembrar que esta pesquisa no s serve
de guia ao empresariado nacional, como
tambm aos investidores estrangeiros
que atravs deste instrumento,
podero ter uma viso bastante clara
do nosso mercado, das empresas que
nela actuam e o comportamento das
mesmas nos mais diversos ramos de
actividades existente no nosso pas.
Ao longo dos ltimos dezasseis anos
(desde 1998) esta pesquisa tem provado
ser um instrumento que promove a
transparncia das empresas que nela
participam.
iniciado a sua actividade a pouco

tempo, no terem produzido receitas,
no julgam possuir um valor elegvel
para participar, por ordens do grupo
internacional, entre outros mais
diversos motivos.
Contudo, apesar dos desafios, muitas
so as empresas que aderem
pesquisa demonstrado assim a sua
transparncia na gesto dos seus
processos de contas e credibilidade do
mercado em que operam.
A presente pesquisa contm
essencialmente dez seces,
nomeadamente:
(i) Prefcio;
(ii) Entrevista com Dr. Filipe Mandlate;
(iii) Glossrio;
(iv) Introduo e Metodologia;
(v) As Melhores Empresas de
Moambique;
(vi) Anlise Macroeconmica
(internacional e nacional);
(vii) Anlise Agregada;
(viii) Ranking das 100 Maiores
Empresas de Moambique;
(ix) Anlise Sectorial, e;
(x) Lista das Empresas Participantes.
Porque a KPMG est empenhada em

melhorar a sua contribuio sociedade
atravs desta pesquisa, este ano foi
introduzida uma nova categoria que a
Pesquisa sobre as Maiores e Melhores
Pequenas e Mdias Empresas de
Moambique, que tambm utiliza os
mesmos critrios de recolha de dados.
A semelhana das edies

passadas, alertamos que os dados
financeiros e econmicos contidos
no presente relatrio so da inteira
responsabilidade das firmas
participantes, no tendo a KPMG
efectuado qualquer alterao aos
mesmos, limitando-se apenas a
analis-los.
A presente edio analisa os resultados

financeiros e econmicos do ano
2013 comparativamente de 2012.
Participaram nesta edio 182 empresas
e todas as que no participaram, alegam
motivos tais como: no ter sido um
ano economicamente favorvel, terem
Em termos de tiragem, esta edio

conta com 5.000 exemplares em
formato bilingue (Portugus e Ingls) de
distribuio gratuita. Alternativamente,
tambm pode ser consultada atravs
da pgina da Internet da KPMG
Moambique www.kpmg.co.mz.
KPMG continues to aim to provide the

Mozambican business community
with an analysis tool that supports their
business decision-making, ensuring
their survival in the increasingly
competitive market, as well as to
provide a basis for credible analysis.
started their activity recently, they

hadnt produced revenue, they didnt
consider they were eligible size wise
to participate and they were subject to
orders of their international group.
However, despite the challenges,
many companies participated in the
research demonstrating through this
their transparency in the management
of their accounts process and
credibility in the market in which they
operate.
It is with great pride that we recall

that KPMG Mozambique was the
first audit and consulting company to
establish itself in the national market,
providing a wide range of services
including in particular consultancy,
auditing, accounting and taxation and
legal advice.
The current document contains ten

sections, namely:
This year KPMG presents the XVI

edition of the research on The 100
largest companies in Mozambique.This
research serves as a guide not only to
national companies but also to foreign
investors, who through this instrument
can have a very clear vision of our
market, of the companies active within
the market and of their behaviour in the
various branches of activities carried
out within our country.
(ii) Interview with His Excellency,

President of the Republic;
(iii) Glossary;
(iv) Introduction and Methodology;
(v) The Top Companies in
Mozambique;
(vi) Macroeconomic Analysis
(International and National);
(vii) Aggregate Analysis;
Over the last sixteen years, since

1998, this research has proven to
be an instrument that promotes the
transparency of the companies who
participate.
(viii) Ranking of the Top 100

companies in Mozambique;
(ix) Analysis by Sector, and;
Because KPMG is committed to

improving their contribution to
society through this survey, a new
category was introduced this year
research on the biggest and best
small and medium-sized companies in
Mozambique, this uses the same data
collection criteria.
This edition analyses the financial and
economic results of the year 2013
compared to 2012, 182 companies
participated in the research for
this edition. Those who chose not
to participate put forward various
reasons including: they hadnt had an
economically favourable year, they
(i) Foreword;
(x) List of Participating Companies.

As in past editions, we advise you
that the financial and economic data
contained in the current report is the
sole responsibility of the participating
firms, KPMG having made no
alterations to the data supplied
limiting their activity to its analysis.
In terms of circulation, 5.000
copies of this edition in bilingual
format (Portuguese and English)
will be distributed free of charge.
Alternatively it can be consulted via
the KPMG Mozambique website
www.kpmg.co.mz.
ComponenteTcnica
Technical Component
PREPARAO DO PROJECTO E MOBILIZAO INTERNA PREPARATION OF THE PROJECT AND INTERNAL MOBILISATION
Nesta fase, so realizadas todas actividades concernentes : (i) actualizao/reviso e aprovao do questionrio; (ii) actualizao
da base de dados; (iii) actualizao da base de contactos (telefones, fax, email, celular) das empresas; (iv) lanamento interno da
pesquisa; (v) recrutamento, seleco e formao da equipa responsvel pela recolha de dados, e; (vi) lanamento ocial da
pesquisa.
During this phase the following activities are carried out (i) update/revision and approval of the questionnaire; (ii) update of the database; (iii)
update of company contacts (telephone, fax, email, mobile); (iv) internal launch of the study; (v) recruitment, selection and training of the
team responsible for data collection and (vi) ofcial launch of the study.
Metodologia da
Pesquisa
A metodologia da pesquisa consiste
na colecta e anlise de dados
financeiros e econmicos das
empresas participantes por via de
um questionrio. Esta anlise visa
subscrever os reconhecimentos no
posicionamento no mercado e prmios
de liderana em categorias e sectores
especficos, dos diversos participantes
da pesquisa 100 Maiores Empresas
de Moambique.Assim, a publicao
inclui os seguintes reconhecimentos e
prmios:
(i) O tradicional ranking das 100
Maiores Empresas de Moambique
com base no volume de negcios;
(ii) Prmio empresa com maior
volume de negcios;
(iii) Prmio empresa com maior
participao de capitais privados de
origem nacional;
(iv) Prmio empresa com maior
rentabilidade de capitais prprios;
(v) Prmio empresa com maior
subida no ranking em relao a
edio anterior;
(vi) Prmio empresa com maior
entrada no ranking das 100 Maiores
Empresas de Moambique;
(vii) Prmio melhor empresa de
Moambique;
(viii) Reconhecimento das empresas
que lideram os respectivos sectores de
actividades de acordo com o volume
de negcios, e;
(ix) Reconhecimento das melhores
empresas por cada sector de
actividade.
As Pequenas e Mdias Empresas
(PME) desempenham um papel
fundamental na economia nacional e,
de modo a encorajar a participao

destas empresas, a pesquisa
introduziu quatro novas categorias de
premiaes designadas:
(i) Prmio Pequena empresa com
maior volume de negcios;
(ii) Prmio Pequena melhor
empresa;
(iii) Prmio Mdia empresa com
maior volume de negcios, e;
(iv) Prmio a Mdia melhor
empresa.
Esta pesquisa compreende
fundamentalmente duas
componentes, umaTcnica (que diz
respeito a todo processo desde a
Mobilizao e Preparao do Projecto
at a Anlise dos Dados) e outra
Analtica (que diz respeito a Elaborao
dos Artigos at ao Lanamento da
Pesquisa). As duas componentes
ilustradas na pgina seguinte no se
encontram dissociadas, isto , ambas
so realizadas em paralelo. Cada uma
das componentes (Tcnica e Analtica)
so, por sua vez subdivididas em
quatro fases, ilustradas na pgina
seguinte:
Research Methodology
The research methodology consists of
the collection and analysis of financial and
economic data received from participating
companies via a questionnaire. This analysis
aims to recognise market position and
reward leadership from among the diverse
participants of the Top 100 companies
of Mozambique in specific categories
and sectors. The publication includes the
following awards and recognitions:
(ii) Award to the company with the

highest revenue
(iii) Award to the company with the highest
equity capital of Mozambican origin
(iv) Award to the company with the highest
return on equity capital
(v) Award to the company with the highest
climb in the ranking in relation to the
previous year
(vi) Award to the company with the
highest entry in the ranking of the Top
100 companies of Mozambique
COLECTA DE DADOS DATA COLLECTION

As actividades inerentes a esta fase so: (i) envio de questionrios s empresas; (ii) vericao e correco dos erros/inconsistncias na base de contactos; (iii) telefonemas de follow up para empresas, e; (iv) recolha dos questionrios.
The activities inherent to this phase are: (i) sending of questionnaires to companies; (ii) verication and correction of errors/inconsistencies in the contact data base; (iii) follow up calls to companies; (iv) collection of questionnaires.
CONTROLO DE QUALIDADE E LIMPEZA DE DADOS COLECTADOS QUALITY CONTROL AND DATA CLEANSING
Esta fase dedicada : (i) anlise/auditoria e limpeza dos questionrios recebidos; (ii) insero dos questionrios na base de
dados, e; (iii) vericao nal e aprovao da base de dados.
This phase is dedicated to: (i) analysis/audit of questionnaires and data cleansing; (ii) input of questionnaires into the database, e; (iii)
nal checking and approval of the database.
ANLISE DOS DADOS DATA ANALYSIS

Nesta fase tm lugar as seguintes actividades: (i) anlise dos dados; (ii) produo das estatsticas/resultados, e; partilha das
mesmas estatsticas/resultados para a concluso do relatrio da pesquisa.
In this phase the following activities take place: (i) analysis of the data; (ii) production of the statistics and results and (iii) sharing of
these statistics/results for the completion of the report.
(vii) Award to Mozambiques top company.

(viii) Recognition for the companies that
led their sectors
(ix) Recognition for the best companies for
each sector of activity.
Small and medium-sized enterprises (SMEs)
play a key role in the national economy and
in order to encourage the participation of
these companies, the study has introduced
four new categories of awards:
(i) Award for the Small company with
the highest revenue;
(ii) Award for best Small company;
(iii) Award for the Medium-sized company
with the highest revenue, and;
(iv) Award for the best Medium-sized
company.
The methodology consists of two

components, one technical (that relates to the
process from mobilisation and preparation of
the project to the analysis of the information)
and the other analytical (from the writing of the
articles to the launch of the study), these two
components are not completely separated,
as their activities are carried out in parallel.
(i) The ranking of the Top 100 companies of Each of the components (Technical and
Analytical) are in turn subdivided in four
Mozambique based on revenue
phases as illustrated below:
Componente Analtica
Analytical Component
ELABORAO DOS ARTIGOS

PREPARATION OF THE ARTICLES
Nesta fase realizado: (i) o
convite, seleco e atribuio
dos artigos a cada elemento da
equipa; (ii) denio da
estrutura, contedo, prazos
limites para entrega do
primeiro draft dos artigos; (iii)
fololw up para o
esclarecimento de dvidas e
ponto de situao do processo
de elaborao dos artigos; (iv)
recolha dos draft dos artigos;
(v) reviso e correco dos
artigos, e; (vi) aprovao nal.
During this phase the following
takes place: (i) invitation and
selection of team members and
assignment of articles to each
member; (ii) denition of the
structure and content of the
report and deadlines for the
submission of the rst draft; (iii)
follow up for the clarication of
doubts and monitoring progress
on the writing of the articles; (iv)
collection of the article drafts; (v)
revision and correction of the
articles, and; (vi) nal approval.
TRADUO E CONTROLO
DA QUALIDADE
TRANSLATION AND QUALITY
CONTROL
Esta fase consiste no: (i)
envio dos artigos para a
sua traduo ocial; (ii)
controlo de qualidade da
traduo; (iii) insero dos
dados estatsticos e
tabelas; (iv) vericao do
relatrio nal nas duas
lnguas e aprovao, e; (v)
preparao dos resultados
da pesquisa.
This phase consists of: (i)
sending articles for their
ofcial translation; (ii) quality
control of the translation; (iii)
insertion of statistical data
and tables; (iv) verication
and approval of the nal
report in both languages,
and; (v) preparation of the
study results.
PAGINAO E IMPRESSO
DA REVISTA / LAYOUT AND
PRINTING OF THE
PUBLICATION
Nesta fase so feitos todos
os trabalhos que dizem
respeito : (i) paginao da
revista; (ii) reviso do
relatrio aps paginao e
correco de
inconsistncias (caso
existam), e; (iii) envio do
relatrio para impresso.
This phase involves the
activities relating to: (i) layout
of the document; (ii) review
of the report after layout and
correction of inconsistencies
(if they exist), and; (iii) issue
of the report for printing.
LANAMENTO DA
PESQUISA / LAUNCH OF
THE STUDY
Esta fase dedicada a
divulgao dos
resultados da
pesquisa
This phase is dedicated
to the announcement
of the results of the
study.
services, cinematographic activities

and editing services, video,
television programme production,
music editing and sound recording.
4. Comrcio
Commerce
Classificao dos sectores
Classification of the sectors
Como referido na edio passada, a classificao

dos sectores foi revisitada, com vista melhorar a
comparabilidade com os dados macroeconmicos
publicados a nvel nacional. Assim, a KPMG procurou
revisitar de forma a alinhar a classificao dos sectores
utilizados na publicao com a utilizada pelo Instituto
Nacional de Estatstica. Como resultado deste exerccio a
classificao dos sectores a seguinte:
As mentioned in the last edition, the classification of the

sectors was revisited in order to improve comparability with
macroeconomic data published at a national level. KPMG sought
to align the classification used in this publication with that used by
the National Institute of Statistics. As a result of this exercise the
classification of the sectors in this edition is as follows:
ACTUAL CLASSIFICAO
CURRENT CLASSIFICATION
1. Agricultura e Pesca
Agriculture and Fisheries
ANTERIOR CLASSIFICAO
PREVIOUS CLASSIFICATION
1. Agricultura
Agriculture
2. Pescas
Fisheries
TIPO DE EMPRESAS QUE

CONGREGA O SECTOR (ACTUAL
CLASSIFICAO)
TYPE OF COMPANIES THAT MAKE
UP THE SECTOR (CURRENT
CLASSIFICATION)
OBSERVAO
OBSERVATION
(PARTICIPATION IN NEW
SECTOR)
Agricultura, Produo Animal,

Floresta e Pesca;
Agriculture, Animal Production,
Forestries and Fisheries;
Fazem parte deste sector todas

empresas que estavam nos
sectores de Agricultura e Sector
das Pescas;
All companies that were in the
Agriculture Sector and Fisheries
Sector;
2. Actividades financeiras e
de seguros
Financial Services and
Insurance
3. Banca e Leasing
Banking and Leasing
4. Seguros
Insurance
Banca, seguros e actividades

auxiliares de intermediao
financeira;
Banking, Insurance and auxiliary
activities of financial intermediation;

sectores da Banca e Leasing e
Sector de Seguros;
Banking and Leasing Sector and
the Insurance Sector ;
3. Actividades de informao
e de comunicao
3. Information and
Communication Activities
5. Comunicaes
Comunications
Rdio, televiso,
telecomunicaes, servios de
informao, actividades de
edio e actividades
cinematogrficas, de vdeo,
produo de programas de
televiso, edio de msica e
gravao de som.
Radio, television,
telecommunications, information
music editing and sound recording.

sectores de Comunicaes;
communication sector;
Comrcio por grosso e a retalho;

reparao de veculos
automveis e motociclos;
Wholesale and retail trade; repair of
cars and motorcycles;

empresas que estavam no
sector de Comrcio e parte de
sector de Energia;
commerce sector and some
companies that were in the
energy sector;
4. Comrcio
Commerce
6. Comrcio
Commerce
5. Construo
Construction
7. Construo
Construction
Desenvolvimento de projectos de
edifcios, construo de edifcios,
engenharia civil e actividades
especializadas de construo;
Development of building projects,
construction of buildings, civil
engineering and specialist
construction activities;

sector de Construo;
construction sector
6. Alojamento, Restaurao e
similares
Accommodation, restaurants
and similar actvities
8. Hotelaria e Turismo
Hotels and Tourism
Hoteleiro, restaurao, casas de

pasto, estabelecimentos de
bebidas e similares em que a
alimentao e bebidas so
consumidas regra geral no
prprio local, assim como
cantinas e fornecimentos de
refeies ao domiclio (catering);
Hotels, restaurants, boarding
houses, bars, similar locations such
as canteens where alcohol and food
are generally sold and eaten and
supply of meals to private homes
(catering);

sector de Hotelaria e Turismo;

hotel and tourism sector;

reparao de veculos
Wholesale and retail trade; repair of

sector de Energia;
energy sector;
7. Construo
Construction
ANTERIOR CLASSIFICAO
PREVIOUS CLASSIFICATION
Desenvolvimento de projectos de
edifcios, construo de edifcios,
TIPO DE EMPRESAS
QUE
engenharia
civil e actividades
CONGREGA O de
SECTOR
(ACTUAL
especializadas
construo;
CLASSIFICAO)
TYPE OF COMPANIES
THAT
construction
of buildings,
civilMAKE
UP THE SECTOR
(CURRENT
engineering
and specialist
CLASSIFICATION)
construction activities;

OBSERVAO
sector
de Construo;
OBSERVATION
(PARTICIPATION
IN NEW
construction
sector
SECTOR)
1. Agricultura
Pesca
6.
Alojamento,e Restaurao
e
similares and Fisheries
Agriculture
1. Agricultura
8.
Hotelaria e Turismo
Agriculture
Hotels and Tourism
2. Pescas
Fisheries

nos
sectores
Agricultura
e Sector
sector
dede
Hotelaria
e Turismo;
das Pescas;
All companies
thatsector;
were in the
hotel
and tourism
Agriculture Sector and Fisheries
Sector;
2. Actividades financeiras e
de seguros
Financial Services and
Insurance
3. Banca e Leasing
Banking and Leasing
4. Seguros
Insurance
Agricultura,
Produo Animal,
Hoteleiro,
restaurao,
casas de
Floresta
e Pesca;
pasto,
estabelecimentos
de
bebidas
e similares
em que a
Agriculture,
Animal Production,
alimentao
bebidas so
Forestries andeFisheries;
prprio local, assim como
cantinas e fornecimentos de
refeies ao domiclio (catering);
Banca, seguros
e actividades
houses,
bars, similar
locations such
auxiliares
intermediao
as
canteensdewhere
alcohol and food
financeira;
are
generally sold and eaten and
Banking,
and auxiliary
supply
of Insurance
meals to private
homes
activities of financial intermediation;
(catering);
7.
Extractivas
e
3. Indstrias
Actividades
de informao
Transformadora
e Indstria
de comunicao
(Indstria)
3. Information and
Extractive industries
and
Communication
Activities
Transformation Industries
(Industry)
9.
Indstria
5. Comunicaes
Industry
Comunications
10. Alimentao e Bebidas
Food and Drink
11. Energia
Energy
Fazem
Fazem parte
parte deste
deste sector
sector todas
empresas
empresas que
que estavam
estavam nos
nos
sectores
sectores da
de Indstria,
Comunicaes;
Alimentao e Bebidas e parte
das empresas que estavam no
communication sector;
sector de Energia;
Industry and Food and Drink
sectors and some of the
Energy Sector;
8. Servios
Services
12. Servios
Services
4. Comrcio
Commerce
6. Comrcio
Commerce
Indstria
Extractiva Indstria
Rdio, televiso,
Transformadora;
telecomunicaes, servios de
Extractive
Industry,
Transformation
informao,
actividades
de
Industry
edio e actividades
cinematogrficas, de vdeo,
produo de programas de
televiso, edio de msica e
gravao de som.
Radio, television,
telecommunications, information
Electricidade,
gs,sound
vapor,
gua
music editing and
recording.
quente e fria e ar frio; Captao,
tratamento e distribuio de
gua; saneamento gesto de
resduos e despoluio;
reparao de veculos
Actividades Imobilirias; Outras
actividades de servios;
Wholesale and
trade; repair of
Actividades
deretail
consultoria,
cientficas,
tcnicas e similares;
5. Construo
Construction
ACTUAL CLASSIFICAO
CURRENT CLASSIFICATION
6. Comrcio
Commerce
5. Construo
Construction
7. Construo
Construction
9. Transportes e Armazenagem
Transport and Warehousing
13. Transportes
Transport
6. Alojamento, Restaurao e
similares
8. Hotelaria e Turismo
Hotels and Tourism
Devido a esta reclassificao dos sectores, algumas empresas

que nas edies passadas pertenciam a um determinado
sector,
na presente edio podem estar9. em
um outro sector,
7. Indstrias Extractivas e
Indstria
estando
assimTransformadora
alinhado a actual classificao
em vigor no INE.
Indstria
Industry
(Indstria)
Extractive industries and
Transformation Industries
(Industry)
10. Alimentao e Bebidas

Food and Drink
11. Energia
Energy

sectores da Banca e Leasing e
Sector de Seguros;
Banking and Leasing Sector and
the Insurance Sector ;

sector de Servios;
All the companies
weretodas
in the
Fazem
parte destethat
sector
Services
sector;
empresas
que estavam no
sector de Energia;
energy sector;
Electricity, gas, steam, hot and cold

water and cold air; Collection,
treatment and distribution of water;
Sanitation, waste management and
pollution control;
Desenvolvimento
de projectos
de
Real estate activities;
other
edifcios,
construo
de edifcios,
services; Scientific,
Technical
and
engenharia
civil eServices;
actividades
sector de Construo;
other consultancy
especializadas de construo;
construction sector
Transportes
construction Terrestres,
of buildings,por
civil
Oleodutos
engineeringou
andGasodutos,
specialist por
gua,
Areos,
Armazenagem e
sector de Transportes;
construction
activities;
actividades auxiliares dos
transportes (manuseamento);
transport
sector;
Hoteleiro,
restaurao,
casas
de
Fazem parte
deste sector todas
Actividades dos Correios e
pasto,
estabelecimentos
de
empresas
que estavam no
postais independentes dos
bebidas
similares em que a
sector de Hotelaria e Turismo;
correios enacionais;
alimentao e bebidas so
Road
transport,
oil
and
gas
hotel and tourism sector;
pipelines,
water
and air
transport,
prprio local,
assim
como
warehousing
and handling activities
cantinas e fornecimentos
de
National
service and
refeiespostal
ao domiclio
(catering);
independent postal activities;
houses, bars, similar locations such
as canteens where alcohol and food
are generally sold and eaten and
supply of meals to private homes
(catering);
Due to the reclassification of the sectors in line with the
classification used by the National Institute of Statistics some

companies are now in different sectors
from those in which they
Indstria Extractiva Indstria
Fazem parte deste sector
appeared in previous editions. empresas que estavam nos
Transformadora;
Extractive Industry, Transformation
Industry
sectores da Indstria,
Alimentao e Bebidas e parte
das empresas que estavam no
sector de Energia;
The sixteenth edition
/ A dcima
sexta
All companies
that were
in theedio / 19
Industry and Food and Drink
sectors and some of the
As Melhores
Empresas de
Moambique
The Top Companies
in Mozambique
Metodologia para a Classificao
O ranking da Melhor Empresa de Moambique das que
constam do ranking das 100 Maiores Empresas de Moambique
tem como principal objectivo destacar a empresa com melhor
desempenho econmico-financeiro no ano em anlise. Para a
classificao desta empresa, foram seleccionados os seguintes
indicadores: (i) crescimento do volume de negcios, (ii)
autonomia financeira, (iii) rentabilidade do volume de negcios,
(iv) rentabilidade de capitais prprios e (v) liquidez geral.
Para a classificao da melhor empresa, foram atribudas
pontuaes que variam de 1 (um) a 100 (cem), sendo atribudos
100 pontos primeira empresa e 1 ponto centsima empresa
classificada para cada um dos indicadores analisados. A empresa
que obtiver a maior pontuao, resultante do somatrio das
pontuaes dos diversos indicadores, obter o ttulo da Melhor
Empresa de Moambique no perodo 2012/2013, segundo a KPMG.
Como critrio adoptado para eventuais desempates na
classificao, realizou-se um novo confronto apenas entre as
empresas que estiverem empatadas, valorizando a rentabilidade
de capitais prprios, j que esta engloba a autonomia da
empresa, a relao entre as vendas e os activos da empresa e a
rentabilidade do volume de negcios.
Seleco da Melhor Empresa,

Melhor Mdia e Pequena Empresa
De acordo com a metodologia acima exposta, a Maputo Car
Terminal, Lda foi apurada como a melhor empresa de 2013, com
um crescimento do volume de negcios na ordem dos 78.33%.
A taxa de rentabilidade do volume de negcios e a rentabilidade
de capitais prprios para esta empresa situaram-se ao nvel de
41.90% e 79.66%, respectivamente. No que concerne a autonomia
financeira e a liquidez geral, a Maputo CarTerminal, Lda obteve as
taxas de 44.08% e 4.32%, respectivamente. A segunda e terceira
posies deste ranking so ocupadas pela Matola CargoTerminal,
SARL e pela Cornelder de Moambique,SA, respectivamente.
A anlise individualizada de alguns destes indicadores revela que
a maior taxa de crescimento do volume de negcios foi obtida
pela Malala Investment Group, Lda com uma taxa de 209.89%,

seguida pela EMOCIL, Lda com 164.04%.
No que toca autonomia financeira, a Matola CargoTerminal,
SARL e a Construa, Lda lideram o ranking com taxas de 90.67% e
86.80%, respectivamente.
A empresaTerminal de Carvao da Matola, Lda com 49.0%, a
Maputo CarTerminal, Lda com 41.90% e a Sasol Petroleum
Temane, Lda com 41.24% lideram o ranking das melhores
empresas com as maiores taxas de rentabilidade do volume
de negcios. Quanto Rentabilidade dos capitais prprios, a
empresa Cowi Moambique, Lda lidera o ranking com uma taxa
de 104%.
Em termos de liquidez geral, a empresa Seguradora Internacional
de Moambique, SA e a Construa, Lda lideram o ranking com
taxas de 17.94% e 17.38%, respectivamente.
A Malala Investment Group, Lda lidera o ranking das melhores
empresas com uma taxa de crescimento do volume de negcios
por trabalhador de 164.98%, seguido pela CONSULTEC, Lda com
130.68% e pela EMOSE, SA com 127.64%.
A Incala, Lda e a Carpintaria Mutende foram eleitas as melhores
Mdia e Pequena empresas da pesquisa 100 Miores Empresas
de Moambique para a edio 2013. A Incala, Lda registou uma
taxa de crescimento do seu volume de negcios na ordem
de 22.1%. A taxa de rentabilidade do volume de negcios e a
rentabilidade de capitais prprios para esta empresa situaram-se
ao nvel de 5.11% e 4.08%, respectivamente. No que diz respeito
a autonomia financeira e liquidez geral, a Incala, Lda obteve
taxas de 99.04% e 58.13%. As empresas Frum Hotis eTurismo,
Lda e a PROMOTUR, ocupam a segunda e terceira posies no
ranking da melhores mdias empresas. Por outro lado, a Auto
Rectificadora e a Linkup Recruitment Services ocupam a segunda
e terceiras posies do lado das melhores pequenas empresas. A
Carpintaria Mutende teve uma taxa de crescimento do volume de
negcios de 40.3%, quanto a autonomia financeira cifrou-se nos
81.01%. Quanto a taxa de rentabilidade do volume de negcios e a
rentabilidade de capitais prprios, a Carpintaria Mutende registou
taxas de 10.93% e 26.30%, respectivamente.
Classification Methodology
The ranking of the Top Company of Mozambique

amongst the onies that are part of the top 100 Companies
of Mozambique has the objective of featuring/outlining the
company with the best economic-financial performance on
the year in the analysis, based on the following indicators: (i)
growth in revenue, (ii) financial independence, (iii) return on
revenue, (iv) return on equity capital and (v) general liquidity.
For the classification of the top company, points varying
from 1 (one) to 100 (a hundred) were attributed for each of
the indicators, with 100 points being attributed to the top
company and 1 point to the 100th company. The company
with the highest score resulting from the sum of the points
from the relevant indicators will receive the title of the KPMG
Top Company 2012/13.
In the event of a tie, the criteria adopted to determine
final placements in the classification was to make a new
comparison between the companies with the same points
based on their return on equity capital, recognising that
this already reflects the independence of the company, the
relationship between sales and the assets of the company
and the return on revenue.
Selection of the Top Company,

Medium and small Company
According to the methodology referred above, Maputo Car
Terminal, Lda was considered as the best company in 2013, with a
growth revenue of approximately 78.33%. The rate of revenue and
shareholder funds profitability of this company was of approximately
41.90% and 79.66%, respectively. With regard to the financial
autonomy and overall liquidity, Maputo Car Terminal, Lda obtained
the rates of 44.08% and 4.32%, respectively. The second and third
positions in this ranking are occupied by Matola Cargo Terminal, SARL
e pela Cornelder de Moambique, SA, respectively.
The individual analysis of some of these indicators reveals that the
highest growth rate of revenue was obtained by Malala Investment
Group, Lda with a rate of 209.89%, followed by EMOCIL, Lda with

164.04%.
With regard to financial autonomy, Matola Cargo Terminal, SARL e a
Construa, Lda are leading the ranking with 90.67% rate and 86.80%,
respectively.
Terminal de Carvo da Matola, Lda with 49.0%, Maputo Car Terminal,
Lda with 41.90% and Sasol Petroleum Temane, Lda with 41.24%
are leading the ranking of the best companies with the highest rates
of revenue. With regard to shareholder funds profitability, Cowi
Moambique, Lda leads the ranking with a rate of 104%.
With regard to overall liquidity, the companies Seguradora
Internacional de Moambique, SA and Construa, Lda are leading the
ranking with 17.94% and rates of 17:38%, respectively.
Malala Investment Group, Lda leads the ranking of the best companies
with a growth rate of revenue per employee of 164.98%, followed by
CONSULTEC, Lda with 130.68% and EMOSE, SA with 127.64%.
The companies Incala, Lda and Carpintaria Mutende were considered
the best Medium and Small companies in the Top 100 Companies
in Mozambique for the 2013 edition. Incala, Lda registered a growth
rate of its revenue of approximately 22.1%. In terms of revenue and
shareholder funds profitability for the company amounted to 5.11%
and 4:08%, respectively.
Regarding financial autonomy and overall liquidity, Incala, Lda
obtained a rate of 99.04% and 58.13%. The Companies Frum
Hotis e Turismo, Lda and PROMOTUR, are in the second and third
positions regarding the ranking of best medium companies.
On the other hand, Carpintaria Mutende which leads the ranking
of the best small companies registered a growth rate of revenue
of 40.3%, and the financial autonomy with 81.01%. With regard to
revenue and shareholder funds profitability, Carpintaria Mutende
registered rates of 10.93% and 26.30%, respectively. In this ranking,
Carpintaria Mutende is followed by Auto Rectificadora and Linkup
Recruitment Services.
42
Avenida - Empreendimentos Tursticos e Hoteleiros, Lda
Alojamento, Restaurao e Similares
238,970
262,828
(9.08)
43
Cimentos de Moambique, SA
44
Terminal de Carvo da Matola, Lda

Intelec Holdings, SA
Indstria
4,506,316
4,050,438
11.26
Transportes e Armazenagem
1,235,604
1,228,988
0.54
Servios
7,222,024
5,853,024
23.39
As tabelas que se seguem apresentam o ranking das Melhores Empresas de

46
Banco Comercial e de Investimentos (BCI), SA
Financeiras e de Seguros
5,191,286
4,371,027
18.77
Moambique
em 2013 de acordo com aActividades
metodologia
adoptada.
45
47
Dataserv, Lda
Rank Empresa
Empresa
Rank
48
Gespetro,
SARL
Company
Company
Comrcio
Sector
Actividade
Sector
dede
Actividade
Comrcio
Activity
Activity
348,717
334,969
4.10
1,309,503
1,143,261
14.54
7.78
462,384
444,963
39
7,883,888
6,403,338
22
3,192,371
2,370,365
64
8,669,116
7,163,468
56
82,167,820
26
Vol.
Neg.
Vol.
dede
Neg.
50
Revenues
Revenues
3 3
(10
Meticais)
(10 Meticais)
BIM - Banco Internacional de Moambique, SA
Actividades Financeiras e de Seguros
8,039,551
7,459,047
Petromoc e Sasol, SA
Comrcio
3,026,391
2013
2013
2,609,342
15.98
2012 %13/12
%13/12
2012
51
1 1
Ferro
Moambique,
Lda
Maputo
Terminal,
Maputo
CarCar
Terminal,
LdaLda
Comrcio
Transportes
e Armazenagem
Transportes
e Armazenagem
791,529
395,736
395,736
695,508
221,910
221,910
13.81
78.33
78.33
47
94 94
52
2 2
CETA
- Engenharia
e Construes,
Matola
Cargo
Terminal,
SARL SA
Matola
Cargo
Terminal,
SARL
Construo
Transportes
e Armazenagem
Transportes
e Armazenagem
1,996,310
,694
377377
,694
1,495,107
310,309
310,309
33.52
21.72
21.72
79
62 62
53
3 3
MOTRACO,
Cornelder
de
Moambique,
Cornelder
deSARL
Moambique,
SASA
Servios
Transportes
e Armazenagem
Transportes
e Armazenagem
8,607
,617
4,171,989
4,171,989
9,205,023
3,266,935
3,266,935
(6.49)
27.70
27.70
13 70
70
54
4 4
Socremo
- Banco
de Microfinanas,
SA
LETSHEGO
- Financial
Services
Mozambique,
LETSHEGO
- Financial
Services
Mozambique,
SASA
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
372,957
(0.09)
246,752 122.79
122.79
246,752
21
97 97
55
5 5
Standard
Bank, SARL
Cowi
Moambique,
Cowi
Moambique,
LdaLda
Actividades
Servios Financeiras e de Seguros
Servios
56
6 6
Vale
Moambique,
SA
Sasol
Petroleum
Temane,
Sasol
Petroleum
Temane,
LdaLda
Indstria
Indstria
57
7 7
African
Lda
MPDC
- Sociedade
Desenvolvimento
Porto
Maputo,
MPDC
-Petroleum,
Sociedade
de de
Desenvolvimento
do do
Porto
de de
Maputo,
SASA
58
8 8
Moza
Banco,
SA
Grindrod
Mozambique,
Grindrod
Mozambique,
LdaLda
59
9 9
Medis
Farmaceutica,
Lda
Agrifocus,
Lda.
Agrifocus,
Lda.
60
10 10
Tropigalia,
Lda- Consultores
CONSULTEC
- Consultores
Associados,
CONSULTEC
Associados,
LdaLda
61
11 11
EDM
- Electricidade
Intermetal,
Intermetal,
SASA de Moambique, E.P.
Servios
Comrcio
Comrcio
62
12 12
63
13 13
49
50
2013
2013
372,623
549,750
549,750
32
51
Pontuao
Pontuao
206,035
146,491
23.12
2,815,250
34.68
1,209,423
21.02
68,094,227
175,263
137,227
201,628
197,250
85,428,239
70,646,624
1,275,548
2013
2013
3.92
40.65
44.56
75
2,508,693
12.22
35.71
65
8.98
595,408
103.13
37.88
68
49.00
5,328,052
4,934,087
7.98
20.67
6,209,921
5,197,549
19.48
27.72
43,124
41,289
4.44
Activo
Lquido
Activo
Lquido
2.22
Net
Assets
Net
Assets
3 3
(10
Meticais)
(10 Meticais)
20.92
42,760
14,238,022
Capitais
Prprios
Capitais
Prprios
40,476
5.64
Shareholdersfunds
Shareholdersfunds
3 3
(10
Meticais)
(10 Meticais)
11,988,914
18.76
89
33.78
52.29
76
1.04
0.85
45
1,683
1,940
8.74
75
25.69
100
15.20
15.13
47
0.86
0.88
28
10,691
67.09
64.32
94
0.45
0.32
4,469
30
The following tables present the ranking of the Best Companies in Mozambique in 2013
7.56
27.36
29.59
92
24.91
28.05
63
0.84
1.21
according
to the13methodology
adopted.
(13.24)
17
311
9,915
7.82
54
308
5,219
(14.37)
16
307
6,703
7,538
(11.08)
20
300
299
88
5.53
7.50
63
7.78
10.15
35
0.87
1.13
24
2,578
2,422
6.44
51
24.61
46
4.25
3.08
54
35.15
23.62
77
1.18
1.23
62
5,535
5,726
(3.33)
33
0.70
0.77 Profits/Revenue
Profits/Revenue
25
22.01
22.45
1.12
1.20
Liquidez
Geral
Liquidez
Geral
Current
Ratio53
Current
Ratio
4,762
4,219
por
Trabalhador
VNVN
por
Trabalhador
Revenue per Employee
97
Rent.
Rent.
C. C.
P. P.
S/hs
Funds 60
S/hs
Funds
(%)(%)
21.21
16.67
Autonomia
Autonomia
42
Financeira
Financeira
25.19
26.92
39
Pontuao
Pontuao
18.13
2013
2013
27
.17
2012
2012
52
Pontuao
Pontuao
63
74 74
1.87
41.90
41.90
1.91
35.33
35.33
41 99
99
5.68
79.66
79.66
5.43
65.91
65.91
29 98
98
18100
100
5.01
34.70
34.70
2.10
37.48
37
.48
60 95
95
36.43
37.75
37.75
24.84
45.88
45.88
78 80
80
81 94
94
2.82
31.58
31.58
2.54
25.82
25.82
45
93 93
11.13
69.10
69.10
11.75
60.89
60.89
40
95 95
27.00
16.64
16.64
53 34
34
13.14
33.08
33.08
9.05
23.73
23.73
80 94
94
18.99
58.19
58.19
15.59
48.17
48.17
15.39
56.81
56.81
30 84
84
27
.187.99
7.99
28.75
(13.19)
(13.19)
91 71 104.00
19.23
104.00
71
21.84
(230.89)
(230.89)
(27
.63)
48.68
48.68
4 78
78
(101.36)
41.24
41.24
(197
.09)
43.02
43.02
2 98
98
50.01
27.16
27.16
182.58
23.29
23.29
29.69
85.05
85.05
31.42
53.04
53.04
60 79
79
1.55
23.14
23.14
1.40
25.62
25.62
34 88
88
21.66
59.67
59.67
2.18
94.19
94.19
9.12
74.68
74.68
16 96
96
1.86
21.16
21.16
(11.23)
19.92
19.92
40 87
87
1.66
60.00
60.00
276,702
19.94
2012 %13/12
%13/12
2012
26.02
2013
2013
760,411
529,848
529,848
519,389
308,328
308,328
46.40
71.85
71.85
265,547
233,568
233,568
256,924
182,749
182,749
3.36
27.81
27
.81
34.92
44.08
44.08
3,079,429
455,104
455,104
2,302,178
332,143
332,143
33.76
37.02
37.02
297
,069
412,654
412,654
252,321
281,612
281,612
17.73
46.53
46.53
9.65
90.67
90.67
4,148,665
3,294,694
3,294,694
4,112,463
2,561,332
2,561,332
0.88
28.63
28.63
2,248,586
2,110,268
2,269,913 1,543,034
1,543,034
2,269,913
6.55
47.11
47
.11
54.20
68.90
68.90
1,045,855
2,788,119
2,788,119
20.98
188.48
188.48
6,779,501
9.63
37,660 6,183,818
(1,183) 3283.43
3283.43
37,660
(1,183)
(66.69)
3.14
3.14
75,347
752,011
752,011
1,351,355
544,752 1,322,525
280,523
544,752
280,523
49
Pontuao
Pontuao
41.08
39.93
(%)(%)
2.21
2012
2012
331,867
2013
2013
35
Rent
Rent
VNVN
1.82
2013
2013
45.95
%13/12
%13/12
64
0.67
0.71
1.16
2013
2013
1.18
2012
2012
60
Pontuao
Pontuao
94,575
2013
2013
94,885
2012
2012
1.30
4.32
4.32
1.69
1.65
1.65
70 94
94
28,783
11,813
11,813
0.97
7.997.99
0.92
4.82
4.82
38 98
98
817
2,020
2,020
1.68
2.94
2.94
5.92
2.25
2.25
78
87 87
1,229,660
7,024
7,024
55 89
89
0.96
5.47
5.47
1.01
8.96
8.96
37 96
96
57100
100
0.84
3.78
3.78
0.88
1.62
1.62
26 93
93
85
68 68
3.62
3.48
3.48
1.91
3.76
3.76
91
89 89
18.74
132.23
132.23
59 90
90
0.24
1.23
1.23
0.44
0.96
0.96
(5.87)
103.96
103.96
19 91
91
0.64
3.62
3.62
0.73
2.52
2.52
16
3,475
3,295
12.88
65
5.48
47
298
Melhores
Melhores
295
2012
dede
2012
291
(0.33)
%13/12
%13/12
39
Pontuao
Pontuao
290
Pomtuao
Final
Pomtuao
Final
28,980
9,863
9,863
(0.68)
19.78
19.78
38 77
77
288536
536
1,107
1,682
1,682
(26.25)
20.09
20.09
11 78
78
284
513513
1,315,003
6,055
6,055
(6.49)
15.99
15.99
26
71 71
283
510510
1,117
7,480
7,480
1,156
4,446
4,446
(3.38)
68.23
68.23
31 96
96
277506
506
4,562
3,345
3,345
4,469
2,878
2,878
2.09
16.24
16.24
44 72
72
276505
505
5,384
41,144
41,144
8,349
31,703
31,703
(35.50)
29.78
29.78
7 89
89
275
502502
4 66
66
20,196
5,574
5,574
20,585
4,392
4,392
(1.89)
26.90
26.90
35 87
87
270469
469
14 92
92
3,143
61,592
61,592
2,563
78,231
78,231
22.60
(21.27)
(21.27)
82
14 14
266455
455
967
,491
1,570,868
1,570,868
8.10
77.49
77
.49
4,585,240
,520
237237
,520
4,325,977
169,807
169,807
5.99
39.88
39.88
28
66,287 42,400,315
47,718
85 85 44,063,370
66,287
47,718
3.92
38.91
38.91
11,460,892
7,714,506
7,714,506
8,068,955
5,769,993
5,769,993
42.04
33.70
33.70
86
81,101,999
24,433,611 21,364,186
21,364,186
80 80 105,106,630
24,433,611
29.60
,949) (17
,420,705)
14.37 (29,037
11,893,454
11,531,868
14.37
11,893,454
11,531,868
Comrcio
Transportes
e Armazenagem
Transportes
e Armazenagem
1,211,762
2,764,549
2,764,549
916,017
2,308,068
2,308,068
32.29
19.78
19.78
78
59 59
310,987
2,623,742
2,623,742
151,005
2,144,856
2,144,856
105.94
22.33
22.33
Actividades
Servios
1,197
,345
1,170,254
1,170,254
599,795
899,657
899,657
99.63
30.08
30.08
95
729,458
75 75 14,820,073
729,458
8,689,027
509,629
509,629
70.56
43.14
43.14
Comrcio
Comrcio
362,041
648,000
648,000
310,253
538,000
538,000
16.69
20.45
20.45
53
60 60
249,766
596,000
596,000
215,527
486,000
486,000
15.89
22.63
22.63
39,472
385,000
385,000
32,895
321,000
321,000
19.99
19.94
19.94
15.80
64.60
64.60
32 92
92
1.82
9.88
9.88
2.31
12.08
12.08
38 77
77
18.18
18.13
18.13
24.45
22.38
22.38
54 53
53
0.97
2.65
2.65
1.08
2.74
2.74
39 84
84
4,702
9,257
9,257
4,432
7,173
7,173
6.08
29.05
29.05
50 88
88
266454
454
Comrcio
Servios
Servios
500,544
255,581
255,581
396,412
202,959
202,959
26.27
25.93
25.93
69
68 68
202,727
202,727
178,084
169,841
169,841
19.36
19.36
65,880
55,569
55,569
58,499
47,547
47,547
12.62
16.87
16.87
27-.41
27.41
0 56
56
1.47
8.75
8.75
0.79
6.42
6.42
33 73
73
11.87
43.36
43.36
5.56
30.21
30.21
41 81
81
1.40
1.25
1.25
1.68
3.17
3.17
74 68
68
2,902
4,524
4,524
2,743
1,961
1,961
5.77
130.68
130.68
49 99
99
266445
445
10,205,956
258,089
258,089
8,723,552
199,667
199,667
16.99
29.26
29.26
54
145,892 38,516,805
114,354
74 74 43,578,153
145,892
114,354
13.14
27.58 18,532,151
90,767 18,394,536
73,148
27.58
90,767
73,148
0.75
24.09
24.09
42.53
62.22
62.22
72 89
89
(0.67)
9.14
9.14
1.20
7.707.70
15
76 76
(0.37)
28.79
28.79
0.69
23.47
23.47
16 71
71
1.03
3.54
3.54
1.12
2.57
2.57
42
90 90
2,929
3,019
3,019
2,594
2,980
2,980
12.93
1.29
1.29
66
42 42
265
442442
Unicomo
Moambique,
Lda
Seguradora
Internacional
Moambique
(SIM),
Seguradora
Internacional
de de
Moambique
(SIM),
SASA
Comrcio
1,093,426
Actividades
Financeiras
e de
Seguros 2,368,000
2,368,000
Actividades
Financeiras
e de
Seguros
977
,416
1,986,000
1,986,000
11.87
19.23
19.23
40
57 57
551,696
5,569,000
5,569,000
409,103
5,145,000
5,145,000
34.86
8.24
8.24
13.46
11.53
11.53
15.38
28.14
28.14
29 57
57
0.92
16.85
16.85
0.95
19.74
19.74
27 83
83
12.61
26.85
26.85
13.26
29.63
29.63
42 67
67
1.10
17.94
17
.94
1.10
43.62
43.62
51100
100
10,171
16,164
16,164
8,612
13,556
13,556
18.11
19.23
19.23
74 76
76
263440
440
Lalgy
Truck
Sales,
Lda
Teixeira
Duarte
Engenharia
e Construes
Moambique,
Teixeira
Duarte
Engenharia
e Construes
Moambique,
LdaLda
Comrcio
Construo
Construo
272,181
1,942,184
1,942,184
365,369
1,257
,087 (25.51)
54.50
54.50
1,257
,087
5 91
91
288,946
2,557
,977
2,557
,977
265,757
2,679,158
2,679,158
8.73
(4.52)
(4.52)
109,996
900,387
900,387
95,580
765,010
765,010
15.08
17.70
17.70
38.07
35.20
35.20
69 64
64
5.30
6.97
6.97
4.60
12.70
12.70
62 68
68
14.02
16.26
16.26
19.95
23.30
23.30
44 48
48
1.57
1.23
1.23
1.51
1.23
1.23
77 65
65
4,286
5,328
5,328
6,894
3,781
3,781
(37
.82)
40.94
40.94
6 93
93
263429
429
64
14 14
Malala
Investment
Group,
Global
Alliance
Seguros,
SA
Global
Alliance
Seguros,
SALda
Comrcio
312,928
Actividades
Financeiras
e de
Seguros 2,470,202
2,470,202
Actividades
Financeiras
e de
Seguros
100,981
1,800,450 209.89
37.20
37.20
1,800,450
100
83 83
16,441
1,669,942
1,669,942
5,705
1,066,572
1,066,572
188.19
56.57
56.57
(153)
456,213
456,213
(577)
330,062
330,062
73.48
38.22
38.22
(0.93)
27.32
27.32
6 55
55
0.14
4.97
4.97
0.35
4.40
4.40
19 59 (116.16)
31.21
59
31.21
(121.32)
30.65
30.65
3 74
74
0.89
1.27
1.27
0.87
1.25
1.25
33
69 69
4,535
27,447
27
,447
1,712
21,824
21,824
164.98
25.77
25.77
100
86 86
261
426426
65
15 15
Manica
Freightde
Services
(Mo),
SA
Hidroelctrica
de
Cahora
Bassa,
SARL
Hidroelctrica
Cahora
Bassa,
SARL
Transportes
Indstria e Armazenagem
Indstria
3,393,796
9,110,774
9,110,774
2,835,826
8,629,212
8,629,212
19.68
5.58
5.58
58
1,562,662
1,578,077
56,597
,935 58,044,628
58,044,628
27 27 56,597
,935
(0.98)
184,503 41,660,405
154,696
(2.49) 43,239,608
43,239,608
41,660,405
(2.49)
66
16 16
Mota
- EngilMoambicana
Eng.
Construo
frica,
SA
Companhia
Moambicana
Hidrocarbonetos,
Companhia
de de
Hidrocarbonetos,
SASA
Construo
Indstria
Indstria
6,699,685
2,237
,464
2,237
,464
7,282,728
1,968,365
1,968,365
(8.01)
13.67
13.67
10 46 10,432,022
6,780,794
10,432,022
46
4,381,177
8,612,283
8,612,283
54.77
21.13
21.13
729,449
255,259
4,966,981 4,254,432
4,254,432
4,966,981
67
17 17
Business
Connexion
Mozambique,
Emose
- Empresa
Moambicana
de
Seguros,
Emose
- Empresa
Moambicana
deLda
Seguros,
SASA
Servios
281,151
Actividades
Financeiras
e de
Seguros 4,340,000
4,340,000
Actividades
Financeiras
e de
Seguros
298,256
(5.74)
1,951,000 122.45
122.45
1,951,000
14 96
96
203,395
7,700,000
7,700,000
204,295
5,484,000
5,484,000
(0.44)
40.41
40.41
109,381
101,795
2,098,000 1,813,000
1,813,000
2,098,000
68
18 18
Aeroportos
de
E.P
.
CIMBETO
-Moambique,
Cimpor
Beto
Moambique,
CIMBETO
- Cimpor
Beto
Moambique,
SASA
Transportes
Indstria
1,346,020
846,819
846,819
1,045,097
544,575
544,575
28.79
55.50
55.50
73
493,080
92 92 12,944,202
493,080
11,717
,338
340,105
340,105
10.47
44.98
44.98
774,332
132,758
132,758
953,413
95,977
95,977
69
19 19
Premier
Group,
Lda Companhia
Hollard
Moambique
Companhia
Seguros
, SARL
Hollard
Moambique
de de
Seguros
, SARL
Comrcio
Actividades
Financeiras
e de
Seguros 1,052,802
1,057
,622
1,057
,622
Actividades
Financeiras
e de
Seguros
692,969
,429
807807
,429
51.93
30.99
30.99
89
77 77
766,778
1,295,917
1,295,917
20.99
48.63
48.63
87
,794
376,230
376,230
13,514
281,736
281,736
549.65
33.54
33.54
70 20
20
KPMG
Auditores
e Consultores,
SA
DHL
Moambique,
DHL
Moambique,
LdaLda
Servios
Transportes
e Armazenagem
Transportes
e Armazenagem
503,374
500,078
500,078
439,619
361,906
361,906
14.50
38.18
38.18
49
84 84
219,186
322,605
322,605
196,770
188,734
188,734
11.39
70.93
70.93
40,434
78,008
78,008
42,697
50,074
50,074
71 21
21
Hoteis
Polana,
SAAlgodoeira
SAN
- Sociedade
Algodoeira
Niassa
- JFS,
SARL
SAN
- Sociedade
do do
Niassa
- JFS,
SARL
Alojamento,
Agricultura
e Pescas e Similares
Agricultura
e Restaurao
Pescas
452,651
432,714
432,714
416,784
402,953
402,953
8.61
7.39
7.39
33
31 31
1,160,301
292,740
292,740
1,184,827
286,818
286,818
(2.07)
2.06
2.06
134,975
185,711
185,711
105,853
96,672
96,672
72
22 22
BP
Moambique,
Lda LdaLda
Petrogal
Moambique,
Petrogal
Moambique,
Comrcio
Comrcio
5,986,465
6,076,548
6,076,548
5,824,766
4,646,508
4,646,508
2.78
30.78
30.78
24
76 76
4,129,910
2,619,660
2,619,660
3,938,809
1,827
,560
1,827
,560
4.85
43.34
43.34
2,293,422
,656 2,406,269
715,171
847847
,656
715,171
73 23
23
BancABC,
SA
ES
Contact
Center
Moambique
(ex.Select
Vedior
Moambique)
ES
Contact
Center
Moambique
(ex.Select
Vedior
Moambique)
Actividades
Servios
752,176
314,201
314,201
599,213
206,863
206,863
25.53
51.89
51.89
67
88 88
9,303,683
56,986
56,986
6,284,852
48,940
48,940
48.03
16.44
16.44
721,142
24,008
24,008
721,924
19,335
19,335
74 24
24
Hariche
Group,
Lda
EMOCIL
, Lda
EMOCIL
, Lda
Comrcio
Construo
Construo
853,546
679,686
679,686
754,724
13.09
,420 164.04
164.04
257257
,420
44
99 99
666,005
860,097
860,097
449,467
360,757
360,757
48.18
138.41
138.41
187
,502
46,278
46,278
113,176
21,515
21,515
75 25
25
Transportes
Lalgy,
Lda
CFM
- Portos
e Caminhos
Ferro
Moambique,
CFM
- Portos
e Caminhos
de de
Ferro
de de
Moambique,
E.PE.P
. .
Transportes
e Armazenagem
Transportes
e Armazenagem
1,755,563
8,272,802
8,272,802
1,541,742
6,649,948
6,649,948
13.87
24.40
24.40
48
1,345,569
40,764,353
65 65 40,764,353
1,199,755
37,947
,610
37
,947
,610
12.15
190,560 25,627
174,107
7.42 26,992,028
26,992,028
25,627
,244
7.42
,244
76 26
26
LAM
- Linhas
Areas de
Moambique,
SAServices,
MAHS
- Mozambique
Airport
Handling
MAHS
- Mozambique
Airport
Handling
Services,
LdaLda
Transportes
e Armazenagem
Transportes
e Armazenagem
5,297
,078
296,799
296,799
4,678,313
232,258
232,258
13.23
27.79
27.79
45
72 72
4,361,038
195,955
195,955
4,273,113
244,471
244,471
2.06
(19.85)
(19.85)
905,620
125,654
125,654
874,895
,316
117117
,316
77
27 27
Salvor
Hoteis
Moambique,
SARL
Tecnel
Service,
Tecnel
Service,
LdaLda
Alojamento,
Servios Restaurao e Similares
Servios
268,990
523,411
523,411
252,542
385,580
385,580
6.51
35.75
35.75
29
81 81
957
,759
304,713
304,713
989,381
160,616
160,616
(3.20)
89.72
89.72
566,039
115,231
115,231
517119,744
,768
119,744
78 28
28
Mega
- Distribuio
Construa,
Construa,
LdaLda de Moambique, SA
Comrcio
Comrcio
632,145
1,542,872 (32.46)
12.55
12.55
1,542,872
79 29
29
Teledata
de
Moambique,
Lda
Mozre
- Moambique
Resseguros,
Mozre
- Moambique
Resseguros,
SASA
Comunicaes
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
80
30 30
Topack
Moambique,
SARL LdaLda
Mozambique
Leaf
Tobacco,
Mozambique
Leaf
Tobacco,
81 31
31
82 32
32
927
,748
1,926,151
1,926,151
97,720
1,391,598
1,391,598
233,391
160,866
160,866
23.10
61.46
873,970
2012
2012
282,353
464,070
464,070
24.92
84,850
74,787
1,567
,000 1,405,000
1,405,000
1,567
,000
19.27
3.79
3.79
11.81
76.40
76.40
26 97
97
0.30
25.36
25.36
(0.27)
38.50
38.50
22 90
90
6.01
5.44
5.44
(78.21
.47)
8.21
30 28
28
1.08
2.47
2.47
0.98
3.90
3.90
49 83
83
8,432
27,650
27
,650
7,125
13,084
13,084
18.34
111.32
111.32
75 97
97
260422
422
185.77
16.75
16.75
10.76
47.61
47.61
23 77
77
7.08
39.30
39.30
2.61
41.13
41.13
69 96
96
96.31
19.07
19.07
134.90
21.82
21.82
99 56
56
1.08
6.61
6.61
1.03
10.33
10.33
48 97
97
6,009
106,546
106,546
9,283
100,942
100,942
(35.27)
5.55
5.55
8 48
48
257420
420
7.45
15.72
15.72
53.78
27.25
27.25
80 54
54
2.70
3.43
3.43
0.94
3.69
3.69
44 51
51
.187.62
7.62
5.53
4.20
4.20
33 34
34
2.06
2.20
2.20
1.90
1.761.76
80 81
81
3,514
13,252
13,252
7,849
5,824
5,824
(55.22)
127127
.54.54
4 98
98
255
414414
(18.78)
38.32
38.32
5.98
26.92
26.92
11 52
52
(12.45)
4.34
4.34
(172.49
.58)
2.49
8 57 (19.40)
32.16
57
32.16
(17
.49)
13.68
13.68
7 75
75
1.55
1.03
1.03
1.68
0.94
0.94
76 44
44
1,702
13,442
13,442
1,412
10,085
10,085
20.49
33.29
33.29
79 91
91
254
411411
9.46
19.53
19.53
17 38
38
0.81
8.91
8.91
0.49
12.48
12.48
26
74 74
16.86
28.65
28.65
28.80
45.32
45.32
50
70 70
0.49
3.24
3.24
0.45
3.28
3.28
8 88
88
1,801
18,235
18,235
1,634
16,821
16,821
10.21
8.40
8.40
62
58 58
252
405405
(5.30)
55.79
55.79
18.45
24.18
24.18
37 45
45
(0.45)
5.59
5.59
2.35
(2.98)
(2.98)
17 64
64
(5.44)
43.63
43.63
27
.50
(18.47)
(18.47)
13 82
82
1.17
1.39
1.39
1.25
1.66
1.66
61 73
73
1,528
4,546
4,546
1,349
4,360
4,360
13.29
4.26
4.26
67 46
46
244394
394
27.51
92.10
92.10
11.63
63.44
63.44
25 90
90
6.43
18.05
18.05
(174.65
.68)
4.65
66 84
84
24.18
55.31
55.31
(73.27)
21.45
21.45
61 88
88
0.37
2.89
2.89
0.51
1.27
1.27
5 85
85
1,202
1,297
1,297
1,120
1,648
1,648
7(21.27)
.31
(21.27)
52
13 13
242391
391
(4.69)
18.52
18.52
55.53
32.36
32.36
83 62
62
(1.89)
2.18
2.18
2.07
2.67
2.67
11 42
42
(4.80)
16.95
16.95
5.14
17.87
17
.87
14 51
51
1.36
1.19
1.19
1.67
1.20
1.20
72
64 64
39,910
53,070
53,070
40,310
39,884
39,884
(0.99)
33.06
33.06
37
90 90
241
385385
(0.11)
24.17
24.17
7.75
42.13
42.13
14 71
71
4.28
3.15
3.15
11.00
6.76
6.76
55 48
48
4.46
45.69
45.69
9.79
113.29
113.29
23 83
83
1.04
1.79
1.79
1.06
2.06
2.06
46 79
79
4,033
263263
4,190
330330
(3.75)
(20.47)
(20.47)
30
15 15
235384
384
65.67
115.10
115.10
28.15
5.38
5.38
58
10 10
1.56
3.64
3.64
1.71
(19.25)
(19.25)
35 52
52
8.83
73.05
73.05
16.04
(460.66)
(460.66)
37 96
96
0.84
1.00
1.00
0.82
0.87
0.87
25 40
40
3,632
1,546
1,546
3,900
1,247
1,247
(6.88)
24.06
24.06
25 84
84
224381
381
9.45
5.33
5.33
14.16
66.21
66.21
28 93
93
0.94
20.21
20.21
0.96
20.87
20.87
28 86
86
9.02
6.36
6.36
8.90
5.55
5.55
38 31
31
0.62
2.31
2.31
0.57
3.19
3.19
12 82
82
2,353
1,778
1,778
2,058
1,917
1,917
14.33
(7.24)
(7.24)
69 24
24
223381
381
3.51
7.117.11
20.77
64.12
64.12
41 91
91
0.58
8.11
8.11
2.79
7.00
7.00
24 72
72
3.45
19.80
19.80
16.11
14.82
14.82
21 58
58
0.86
0.69
0.69
0.87
1.00
1.00
29
18 18
7,327
983983
6,641
863863
10.33
13.82
13.82
63 68
68
223379
379
9.32
(3.77)
(3.77)
59.10
37.82
37.82
85 67
67
0.06
1.20
1.20
(3.49)
3.15
3.15
18 29
29
0.03
5.33
5.33
(1.79)
11.47
11.47
17 27
27
0.89
1.49
1.49
1.28
3.59
3.59
32
75 75
796
8,871
8,871
789
6,535
6,535
0.84
35.75
35.75
40
92 92
221
371371
4 43
43
462,284
1,146,544
1,146,544
448,978
1,093,880
1,093,880
2.96
4.81
4.81
337
,045
995,204
995,204
344,501
918,548
918,548
(2.16)
8.35
8.35
72.91
86.80
86.80
95 99
99
(1.75)
4.41
4.41
15.90
7.087.08
12 58
58
(2.19)
8.01
8.01
34.10
12.65
12.65
15 36
36
2.93
17.38
17
.38
3.77
4.06
4.06
86 99
99
3,028
3,498
3,498
4,390
3,535
3,535
(31.02)
(1.05)
(1.05)
9 36
36
221371
371
287
,355
480,632
480,632
299,561
412,102
412,102
(4.07)
16.63
16.63
15 52
52
260,495
309,909
309,909
255,640
372,108
372,108
1.90
(16.72)
(16.72)
64,818
62,659
62,659
71,950
38,726
38,726
(9.91)
61.80
61.80
24.88
20.22
20.22
47 39
39
3.35
5.28
5.28
10.11
1.44
1.44
50 61
61
14.07
50.04
50.04
53.35
16.07
16.07
45 86
86
0.90
1.16
1.16
0.84
0.91
0.91
35 58
58
3,229
25,296
25,296
3,366
21,690
21,690
(4.07)
16.63
16.63
28 73
73
220369
369
Indstria
Agricultura
e Pescas
Agricultura
e Pescas
303,065
6,508,039
6,508,039
257
,793
5,868,252
5,868,252
17.56
10.90
10.90
55
37 37
358,328
4,397
,230
4,397
,230
361,199
3,510,401
3,510,401
(0.79)
25.26
25.26
11,566
1,118,539
1,118,539
11,058
690,400
690,400
4.59
62.01
62.01
3.23
25.44
25.44
8 48
48
0.17
6.58
6.58
0.19
3.99
3.99
21
67 67
4.49
47.34
47
.34
4.47
103.93
103.93
24
84 84
1.08
1.34
1.34
1.03
1.68
1.68
50
71 71
1,871
1,324
1,324
1,713
1,209
1,209
9.22
9.49
9.49
59
61 61
217368
368
CMA
CGM Mozambique,
Lda
Moambique
Rental,
Lda
Moambique
CarCar
Rental,
Lda
Transportes
Servios e Armazenagem
Servios
1,060,638
510,157
510,157
1,400,970
465,470 (24.29)
9.60
9.60
465,470
6 35
35
436,137
668,028
668,028
418,964
705,848
705,848
4.10
(5.36)
(5.36)
37
,670
316,001
316,001
66,396
310,911
310,911
(43.26)
1.64
1.64
8.64
47.30
47
.30
15
76 76
2.95
18.48
18.48
4.43
11.60
11.60
47 85
85
60.10
30.07
30.07
118.34
19.02
19.02
92 73
73
1.06
0.87
0.87
1.16
0.59
0.59
47 31
31
16,193
12,004
12,004
22,238
11,083
11,083
(27
.18)
8.31
8.31
10 56
56
217356
356
Globe
Musica,
Lda
Somotor,
SARL
Somotor,
SARL
Comrcio
Comrcio
2,425,746
384,218
384,218
2,865,570
,997 (15.35)
7.32
7.32
357357
,997
7 30
30
39,236
265,404
265,404
28,351
310,254
310,254
38.39
(14.46)
(14.46)
6,718
83,981
83,981
4,427
62,754
62,754
51.75
33.83
33.83
17.12
31.64
31.64
36 61
61
0.14
7.177.17
0.11
7.067.06
20 70
70
60.44
37.54
37.54
137
47.20
47.38
.20
93 79
79
1.15
1.24
1.24
1.10
1.15
1.15
57 67
67
121,287
3,748
3,748
318,397
3,672
3,672
(61.91)
2.09
2.09
3 43
43
216350
350
83 33
33
Mozal,
SARL
Total
Moambique,
SARL
Total
Moambique,
SARL
Indstria
Comrcio
Comrcio
32,261,000
6,033,647
6,033,647
34,640,000
4,723,996
4,723,996
(6.87)
27.72
27.72
12 71 48,044,000
3,034,772 46,400,000
3,087
,913
71
3,034,772
3,087
,913
3.54
,000 38,806,000
(1.72) 38,077
1,319,596
1,423,551
(1.72)
1,319,596
1,423,551
(1.88)
(7.30)
(7.30)
79.25
43.48
43.48
98 73
73
(10.27)
3.76
3.76
(0.85)
7.377.37
9 53
53
(8.62)
16.54
16.54
(0.73)
24.29
24.29
9 49
49
1.10
0.79
0.79
1.71
1.06
1.06
52 21
21
25,655
71,829
71,829
26,544
59,050
59,050
(3.35)
21.64
21.64
32 81
81
212348
348
84 34
34
Telecomunicaes
de
Moambique,
SA SASA
FNB
- First
National
Bank
Moambique,
FNB
- First
National
Bank
Moambique,
Comunicaes
Actividades
Financeiras
e de
Seguros 3,140,772
791,262
791,262
Actividades
Financeiras
e de
Seguros
3,239,631
512,402
512,402
(3.05)
54.42
54.42
18 90 12,570,842
8,029,099 11,088,572
5,807
,154
90
8,029,099
5,807
,154
13.37
38.26
38.26
0.71
45.88
45.88
41.35
11.05
11.05
70 24
24
1.66
13.17
13.17
(17.84)
(172.35
.84)
36 81
81
1.00
13.93
13.93
1.48
(15.59)
(15.59)
18 43
43
0.89
0.63
0.63
1.01
1.21
1.21
34
13 13
2,060
2,947
2,947
2,145
2,062
2,062
(3.97)
42.92
42.92
29 94
94
205345
345
85
35 35
Ferpinta
SA
MEX
-Moambique,
Moambique
Expresso,
SARL
MEX
- Moambique
Expresso,
SARL
Indstria
Transportes
e Armazenagem
Transportes
e Armazenagem
534,663
818,864
818,864
437
,543
565,552
565,552
22.20
44.79
44.79
63
87 87
661,053
471,644
471,644
706,764
102,143
102,143
(1.67)
0.35
0.35
(10.12)
1.02
1.02
13 23 (29.64)
3.85
23
3.85
(62.64)
8.30
8.30
5 22
22
0.83
4.93
4.93
0.93
3.33
3.33
23
95 95
4,629
6,204
6,204
3,740
4,961
4,961
23.78
25.05
25.05
83
85 85
194345
345
86 36
36
Entreposto
Comercial
de
Moambique,
SARL
G4S
Secure
Solutions,
Lda
G4S
Secure
Solutions,
Lda
Comrcio
Servios
Servios
1,497
,376
1,403,117
1,403,117
1,552,200
1,252,573
1,252,573
(3.53)
12.02
12.02
17 41
41
2,855,524
1,000,211
1,000,211
2,791,309
896,411
896,411
2.30
11.58
11.58
5.16
50.59
50.59
7.11
71.34
71.34
26 87
87
0.83
1.15
1.15
0.89
1.53
1.53
22 56
56
4,476
105105
4,828
97 97
(77.28)
.577.57
23 53
53
193342
342
87 37
37
Banco
nico,
SA
Cervejas
Moambique,
SARL
Cervejas
de de
Moambique,
SARL
Actividades
Indstria Financeiras e de Seguros
Indstria
613,488
9,851,983
9,851,983
241,333
9,062,322 154.21
8.71
8.71
9,062,322
98
34 34
8,957
,898
9,303,810
9,303,810
6,879,165
7,754,453
7,754,453
30.22
19.98
19.98
6 82 (10.24)
26.56
82
26.56
(54.29)
32.24
32.24
8 66
66
0.67
0.67
0.90
0.90
0 17
17
2,108
8,265
8,265
1,946
7,651
7,651
8.32
8.03
8.03
57 55
55
191340
340
88
38 38
Corredor
Desenvolvimento
Toyota
de
Moambique,
Toyota
dede
Moambique,
SASA do Norte (CDN), SARL
Transportes
Comrcioe Armazenagem
Comrcio
754,490
2,937
,366
2,937
,366
1,186,642
2,417
,651 (36.42)
21.50
21.50
2,417
,651
3 61
61
5,565,059
2,303,609
2,303,609
1,174,528
2,185,715
2,185,715
373.81
5.39
5.39
1.18
1.011.01
0.55
1.02
1.02
63
41 41
1,459
7,561
7,561
1,953
6,801
6,801
(25.29)
11.18
11.18
12 64
64
183335
335
89 39
39
Portos
do Norte,
SA
Coca-Cola
Sabco
(Moambique),
Coca-Cola
Sabco
(Moambique),
SASA
Servios
Indstria
Indstria
898,924
4,320,590
4,320,590
3,895,490
3,895,490
10.91
10.91
0 38
38
445,540
3,665,781
3,665,781
2,694,567
2,694,567
36.04
36.04
90 40
40
Transportes
Carlos
Mesquita,
Lda
TCNICA
Industrial,
TCNICA
Industrial,
SASA
Transportes
Comrcio
385,525
1,045,921
1,045,921
386,788
631,461
631,461
(0.33)
65.64
65.64
20
93 93
374,950
425,051
425,051
430,775
209,302
209,302
(12.96)
103.08
103.08
91 41
41
Turvisa
- -Empreendimentos
Tursticos,
Televisa
- Sociedade
Tcnica
Obras
e Projectos,
Televisa
Sociedade
Tcnica
de de
Obras
eLda
Projectos,
LdaLda
Alojamento,
Servios Restaurao e Similares
Servios
498,045
1,056,556
1,056,556
479,003
774,269
774,269
3.98
36.46
36.46
25
82 82
1,301,993
1,099,061
1,099,061
1,169,333
1,067
,023
1,067
,023
92 42
42
TVAvenida
Cabo--Empreendimentos
Comunicao
Multimdia,
Lda
- Empreendimentos
Tursticos
e Hoteleiros,
Avenida
Tursticos
e Hoteleiros,
LdaLda
Comunicaes
Alojamento,
Restaurao
e Similares
Alojamento,
Restaurao
e Similares
662,931
238,970
238,970
532,504
262,828
262,828
24.49
(9.08)
(9.08)
66
9 9
1,078,281
462,384
462,384
766,326
444,963
444,963
93
43 43
PETROMOC
-Moambique,
Petrleos
de Moambique,
SA
Cimentos
Moambique,
Cimentos
de de
SASA
Comrcio
Indstria
Indstria
18,826,026
4,506,316
4,506,316
16,801,308
4,050,438
4,050,438
12.05
11.26
11.26
42
7,883,888
39 39 15,400,283
7,883,888
12,267
,660
6,403,338
6,403,338
94 44
44
Banco
Procredit,
SAda da
Terminal
Carvo
Matola,
Terminal
de de
Carvo
Matola,
LdaLda
Actividades
Financeiras
e de Seguros
Transportes
e Armazenagem
Transportes
e Armazenagem
419,880
1,235,604
1,235,604
435,592
1,228,988
1,228,988
(3.61)
0.54
0.54
16 22
22
95 45
45
mCel
- Moambique
Celular, SA
Intelec
Holdings,
Intelec
Holdings,
SASA
Comunicaes
Servios
Servios
8,192,669
7,222,024
7,222,024
9,014,153
5,853,024
5,853,024
(9.11)
23.39
23.39
96
46 46
C.M.C.
Africa
Austral,
Banco
Comercial
e Lda
de
Investimentos
(BCI),
Banco
Comercial
e de
Investimentos
(BCI),
SASA
Construo
Actividades
Financeiras
e de
Seguros 3,633,430
5,191,286
5,191,286
Actividades
Financeiras
e de
Seguros
3,658,150
4,371,027
4,371,027
(0.68)
18.77
18.77
19 56 21,636,432
22,874,155
82,167
,820 68,094,227
68,094,227
56
82,167
,820
97 47
47
guas
da Regio
Dataserv,
Dataserv,
LdaLda de Maputo, SA
Servios
Comrcio
Comrcio
1,141,140
348,717
348,717
1,124,317
334,969
334,969
1.50
4.10
4.10
23
26 26
1,195,044
175,263
175,263
98 48
48
Empresa
Municipal
Gespetro,
SARL de Transportes Pblicos de Maputo, E.P.
Gespetro,
SARL
Transportes
Comrcio
490,743
1,309,503
1,309,503
951,703
1,143,261 (48.44)
14.54
14.54
1,143,261
2 50
50
750,073
201,628
201,628
99 49
49
Servitrade
Servios
Investimentos
e Trading,SA
Lda
BIM
- Banco
Internacional
Moambique,
SA
BIM
- Banco
Internacional
de de
Moambique,
Construo
1,274,567
Actividades
Financeiras
e de
Seguros 8,039,551
8,039,551
Actividades
Financeiras
e de
Seguros
1,153,647
7,459,047
7,459,047
10.48
7.78
7.78
36
2,682,190
2,320,801
85,428,239 70,646,624
70,646,624
32 32 85,428,239
15.57
n.d 11,988,914
n.d
20.92 14,238,022
14,238,022
11,988,914
20.92
Barclays
Bank
SA
Petromoc
e Moambique,
Sasol,
Petromoc
e Sasol,
SASA
Actividades
ComrcioFinanceiras e de Seguros
Comrcio
1,194,130
3,026,391
3,026,391
1,294,584
2,609,342
2,609,342
(7.76)
15.98
15.98
11 51
51
6.29
45.95
45.95
Ferro
Moambique,
Ferro
Moambique,
LdaLda
Comrcio
Comrcio
791,529
791,529
695,508
695,508
13.81
13.81
47 47
760,411
760,411
519,389
519,389
46.40
46.40
1,996,310
1,996,310
1,495,107
1,495,107
33.52
33.52
79 79
3,079,429
3,079,429
2,302,178
2,302,178
33.76
33.76
8,607
,617
8,607
,617
9,205,023
9,205,023
(6.49)
(6.49)
13 13
4,148,665
4,148,665
4,112,463
4,112,463
0.88
0.88
372,623
372,623
372,957
372,957
(0.09)
(0.09)
21 21
1,045,855
1,045,855
,491
967967
,491
8.10
8.10
100
50 50
51 51
- Engenharia
e Construes,
Construo
52 52 CETA
- Engenharia
e Construes,
SASA
22
/ A CETA
dcima
sexta
edio
/ The sixteenth Construo
edition
53 53
MOTRACO,
SARL
MOTRACO,
SARL
Servios
Servios
54 54
Socremo
- Banco
Microfinanas,
Socremo
- Banco
de de
Microfinanas,
SASA
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
426,967
1,736,554
1,736,554
(6.47)
361.75
361.75
5,197
,695
,127 5,160,927
608,119
887887
,127
608,119
4,539
78,071
78,071
55,656
72,936
72,936
(91.85)
7.04
7.04
0.69
16.55
16.55
7 33
33
849,813
206,192
206,192
843,513
121,268
121,268
0.75
70.03
70.03
29.76
20.61
20.61
59 40
40
2.92
5.90
5.90
3.54
5.70
5.70
935,841
5,590,971 1,033,951
5,140,039
5,590,971
5,140,039
(9.49)
8.77
8.77
10.45
60.09
60.09
22 86
86
(16.43)
14.47
14.47
(116.29)
16.82
16.82
(577
,736)
,679
407407
,679
0.00
51.27
51.27
(10.38)
26.77
26.77
5 51
51
(574.32
.00)
4.32
(273.49
.70)
3.49
3 56
56
74.43
24.79
24.79
72.54
21.06
21.06
97
62 62
96,723
2,012,190
1,592,828
2,012,190
1,592,828
26.33
26.33
21.71
54.89
54.89
43 82
82
10.14
12.32
12.32
12.49
12.49
78 79
79
29.53
29.53
32.87
32.87
0 72
72
1.16
0.71
0.71
0.76
0.76
59
19 19
4,482
4,482
4,442
4,442
0.90
0.90
0 41
41
180331
331
16.33
13.03
13.03
15.52
23.74
23.74
31 44
44
1.30
1.33
1.33
0.96
2.54
2.54
31 32
32
9.23
14.64
14.64
7.67
20.06
20.06
39 46
46
0.54
0.66
0.66
0.58
1.65
1.65
9 15
15
1,570
5,977
5,977
1,511
3,671
3,671
3.94
62.80
62.80
45 95
95
175325
325
(577
,736)
616,677
616,677
46 65
65
58,176
100,888
100,888
50,010
89,256
89,256
11.34
3.00
3.00
342,732
77,451
77,451
326,260
67,805
67,805
5.05
14.23
14.23
26.32
7.057.05
50
12 12
3.31
1.80
1.80
5.57
2.41
2.41
49 37
37
4.92
26.12
26.12
8.53
28.47
28.47
25 65
65
0.45
1.03
1.03
0.43
1.101.10
6 43
43
1,009
2,867
2,867
1,153
2,361
2,361
(12.46)
21.46
21.46
18 80
80
173319
319
40.71
3.92
3.92
105,512
206,035
206,035
121,059
146,491
146,491
(12.84)
40.65
40.65
9.79
44.56
44.56
19 75
75
1.23
24.92
24.92
15.76
23.10
23.10
30 89
89
7.17
33.78
33.78
70.91
52.29
52.29
32
76 76
0.18
1.04
1.04
0.23
0.85
0.85
3 45
45
3,994
1,683
1,683
4,329
1,940
1,940
(7(13.24)
.76)
(13.24)
22
17 17
172
311311
25.54
23.12
23.12
1,525,267
2,815,250 1,620,297
2,508,693
2,815,250
2,508,693
(5.86)
12.22
12.22
9.90
35.71
35.71
21 65
65
(0.50)
8.98
8.98
(1.50)
8.74
8.74
16 75
75
(6.04)
15.20
15.20
(14.38)
15.13
15.13
11 47
47
0.79
0.86
0.86
0.75
0.88
0.88
20
28 28
33,350
10,691
10,691
30,520
9,915
9,915
9.27
7.827.82
60
54 54
170308
308
1,491,749
2,370,365
2,370,365
(1.17)
34.68
34.68
201,456
1,209,423
1,209,423
215,430
595,408
595,408
(6.49)
103.13
103.13
13.67
37.88
37.88
27 68
68
(3.66)
49.00
49.00
(19.00)
25.69
25.69
10100
100
(7.37)
67.09
67
.09
(36.36)
64.32
64.32
10 94
94
0.91
0.45
0.45
0.89
0.32
0.32
36
7 7
1,298
4,469
4,469
1,130
5,219
5,219
14.87
(14.37)
(14.37)
70
16 16
169307
307
8 64 14,690,252
8,669,116 12,571,621
7,163,468
64
8,669,116
7,163,468
16.85
21.02
21.02
5,285,030
5,328,052 5,243,983
4,934,087
5,328,052
4,934,087
0.78
7.98
7.98
35.98
61.46
61.46
66 88
88
2.18
5.53
5.53
7.63
.507.50
43 63
63
3.39
7.787.78
13.74
10.15
10.15
20 35
35
0.55
0.87
0.87
0.83
1.13
1.13
10 30
30
9,593
6,703
6,703
10,860
7,538
7,538
(11.67)
(11.08)
(11.08)
19 20
20
166300
300
(5.41)
20.67
20.67
996,831
6,209,921 1,054,818
5,197
,549
6,209,921
5,197
,549
(5.50)
19.48
19.48
4.61
7.567.56
9 13
13
(1.60)
27.36
27.36
0.73
29.59
29.59
14 92
92
(5.65)
24.91
24.91
2.55
28.05
28.05
12 63
63
1.14
0.84
0.84
1.37
1.21
1.21
55
24 24
1,474
2,578
2,578
1,522
2,422
2,422
(3.13)
6.44
6.44
34
51 51
143299
299
1,048,667
,227
137137
,227
13.96
27.72
27.72
(749,650)
43,124 (569,709)
41,289
43,124
41,289
(31.58)
4.44
4.44
(62.73)
24.61
24.61
3 46
46
(15.77)
4.25
4.25
(10.55)
3.08
3.08
7 54
54
27.28
35.15
35.15
23.25
23.62
23.62
69 77
77
1.18
1.18
1.23
1.23
0 62
62
1,619
5,535
5,535
1,688
5,726
5,726
(4.12)
(3.33)
(3.33)
27 33
33
129298
298
928,227
,250
197197
,250
(19.19)
2.22
2.22
1097
.10
5.64
5.64
61.15
21.21
21.21
87 42
42
(35.49)
0.70
0.70
10.30
0.77
0.77
5 25 (70.09)
22.01
25
22.01
(914.88)
22.45
22.45
4 60
60
0.61
1.12
1.12
0.20
1.20
1.20
11 53
53
339
4,762
4,762
728
4,219
4,219
(53.45)
12.88
12.88
5 65
65
114295
295
0 97
97
25.19
25.19
26.92
26.92
0 64
64
1.13
0.67
0.67
1.87
0.71
0.71
54
16 16
3,475
3,475
3,295
3,295
5.48
5.48
0 47
47
90291
291
4 39 (28.53)
18.13
39
18.13
(34.13)
27.17
27.17
6 52
52
0.85
1.16
1.16
0.93
1.18
1.18
27 60
60
1,370
94,575
94,575
1,489
94,885
94,885
(7.97)
(0.33)
(0.33)
21 39
39
89290
290
28,783
28,783
28,980
28,980
(0.68)
(0.68)
38 38
288288
1,474,230
3,192,371
3,192,371
17
,172,453
1,275,548 16,156,608
873,970
1,275,548
873,970
458,706
42,760
42,760
38,318
40,476
40,476
1,691,111
,158
331,867 2,537
276,702
331,867
276,702
18.76
18.76
16.67
16.67
0 35
35
41.08
41.08
39.93
39.93
(33.35)
19.94
19.94
9.85
26.02
26.02
20 49
49
(50.52)
1.82
1.82
(56.57)
2.21
2.21
34.92
34.92
63 63
1.87
1.87
1.91
1.91
41 41
5.68
5.68
5.43
5.43
29 29
1.30
1.30
1.69
1.69
70 70
265,547
265,547
256,924
256,924
3.36
3.36
,069
297297
,069
252,321
252,321
17.73
17.73
9.65
9.65
18 18
5.01
5.01
2.10
2.10
60 60
36.43
36.43
24.84
24.84
78 78
0.97
0.97
0.92
0.92
38 38
2,248,586 2,110,268
2,110,268
2,248,586
6.55
6.55
54.20
54.20
81 81
2.82
2.82
2.54
2.54
45 45
11.13
11.13
11.75
11.75
40 40
1.68
1.68
5.92
5.92
78 78
1,229,660
1,229,660
1,315,003
1,315,003
(6.49)
(6.49)
26 26
283283
20.98
20.98
27.00
27.00
53 53
13.14
13.14
9.05
9.05
80 80
18.99
18.99
15.59
15.59
55 55
0.96
0.96
1.011.01
37 37
1,117
1,117
1,156
1,156
(3.38)
(3.38)
31 31
277277
282,353
282,353
233,391
233,391
1,107
(26.25)
284
817817
1,107
(26.25)
11 11
The sixteenth
edition
/A
dcima sexta
edio / 284
23
43 43
Cimentos
Cimentos
de de
Moambique,
Moambique,
SASA
Indstria
Indstria
4,506,316
4,506,316
4,050,438
4,050,438
44 44
Terminal
Terminal
de de
Carvo
Carvo
da da
Matola,
Matola,
LdaLda
Transportes
Transportes
e Armazenagem
e Armazenagem
1,235,604
1,235,604
45 45
Intelec
Intelec
Holdings,
Holdings,
SASA
Servios
Servios
7,222,024
7,222,024
46 46
Banco
Banco
Comercial
Comercial
e de
e de
Investimentos
Investimentos
(BCI),
(BCI),
SASA
Actividades
Actividades
Financeiras
Financeiras
e de
e de
Seguros
Seguros 5,191,286
5,191,286
47 47
Dataserv,
Dataserv,
LdaLda
39 39
7,883,888
7,883,888
6,403,338
6,403,338
23.12
23.12
2,815,250
2,815,250 2,508,693
2,508,693
1,228,988
1,228,988
0.54
0.54
22 22
3,192,371
3,192,371
2,370,365
2,370,365
34.68
34.68
1,209,423
1,209,423
595,408
595,408
5,853,024
5,853,024
23.39
23.39
64 64
8,669,116
8,669,116
7,163,468
7,163,468
21.02
21.02
5,328,052
5,328,052 4,934,087
4,934,087
4,371,027
4,371,027
18.77
18.77
56 56 82,167
,820
82,167
,820 68,094,227
68,094,227
20.67
20.67
6,209,921
,549
6,209,921 5,197
5,197
,549
27.72
27.72
348,717
348,717
334,969
334,969
4.10
4.10
26 26
175,263
175,263
137137
,227
,227
1,309,503
1,309,503
1,143,261
1,143,261
14.54
14.54
201,628
201,628
197197
,250
2.22
,250Net
2.22
Net
Assets
Assets
BIM
BIM
- Banco
- Banco
Internacional
Internacional
de de
Moambique,
Moambique,
SASA
Actividades
Actividades
Financeiras
Financeiras
e de
e de
Seguros
Seguros 8,039,551
8,039,551
7,459,047
7,459,047
7.78
7.78
Vol.
Vol.
dede
Neg.
Neg.
50 50
Revenues
Revenues
3 3
(10(10
Meticais)
Meticais)
Rank
Rank Empresa
Empresa
48 48 Gespetro,
Gespetro,
SARL
SARL
Company
Company
49 49
11.26
11.26
Comrcio
Comrcio
Sector
Sector
dede
Actividade
Actividade
Comrcio
Comrcio
Activity
Activity
3,026,391
3,026,391
2013
2013
Activo
Activo
Lquido
Lquido
3 3
(10(10
Meticais)
Meticais)
32 32 85,428,239
85,428,239 70,646,624
70,646,624
43,124
43,124
41,289
41,289
12.22
12.22
35.71
35.71
65 65
8.98
8.98
8.74
8.74
75 75
15.20
15.20
15.13
15.13
47 47
0.86
0.86
0.88
0.88
103.13
103.13
37.88
37.88
68 68
49.00
49.00
25.69
25.69
100100
67.09
67.09
64.32
64.32
94 94
0.45
0.45
7.98
7.98
61.46
61.46
88 88
5.53
5.53
7.507.50
63 63
7.787.78
10.15
10.15
35 35
0.87
0.87
19.48
19.48
7.567.56
13 13
27.36
27.36
29.59
29.59
92 92
24.91
24.91
28.05
28.05
63 63
4.44
4.44
24.61
24.61
46 46
4.25
4.25
3.08
3.08
54 54
35.15
35.15
23.62
23.62
0.70
0.70
0.77
0.77
Profits/Revenue
Profits/Revenue
25 25
22.01
22.01
97 97
25.19
25.19
26.92
26.92
Capitais
Capitais
Prprios
Prprios
42,760
40,476
5.64
42,760 Shareholdersfunds
40,476
5.64
Shareholdersfunds
3 3
(10(10
Meticais)
Meticais)
20.92
20.92 14,238,022
14,238,022 11,988,914
11,988,914
18.76
18.76
(14.37)
(14.37)
16 16
307307
7,538
7,538
(11.08)
(11.08)
20 20
300300
0.84
0.84
1.21
1.21
24 24
2,578
2,578
2,422
2,422
6.44
6.44
51 51
299299
77 77
1.18
1.18
1.23
1.23
62 62
5,535
5,535
5,726
5,726
(3.33)
(3.33)
33 33
298298
22.45
22.45 S/hs
S/hs
Funds
Funds 60 60
1.121.12
1.20
1.20
Liquidez
Liquidez
Geral
Geral
Current
Current
Ratio
Ratio53 53
4,762
4,762
4,219
4,219
12.88
12.88 perper
65 65
Revenue
Revenue
Employee
Employee
VNVN
por
por
Trabalhador
Trabalhador
Melhores
Melhores
295
295
dede
2012
2012
64 64
0.67
0.67
0.71
0.71
16 16
3,475
3,475
3,295
3,295
5.48
5.48
47 47
291291
(%)(%)
873,970
873,970
2012
2012
45.95
45.95
%13/12
%13/12
331,867
331,867
2013
2013
276,702
19.94
276,702
19.94
2012 %13/12
%13/12
2012
26.02
26.02
2013
2013
49 49
Pontuao
Pontuao
1.82
1.82
2013
2013
2.21
2.21
2012
2012
39 39
Pontuao
Pontuao
18.13
18.13
2013
2013
27
.17
27
.17
2012
2012
52 52
Pontuao
Pontuao
1.16
1.16
2013
2013
1.18
1.18
2012
2012
60 60
Pontuao
Pontuao
94,575
94,575
2013
2013
94,885
94,885
2012
2012
(0.33)
(0.33)
%13/12
%13/12
39 39
Pontuao
Pontuao
290
290
Pomtuao
Pomtuao
Final
Final
46.40
46.40
71.85
71.85
265,547
265,547
233,568
233,568
256,924
256,924
182,749
182,749
3.36
3.36
27
.81
27
.81
34.92
34.92
44.08
44.08
63
74 63
74
1.87
1.87
41.90
41.90
1.91
1.91
35.33
35.33
41 41
99
99
5.68
5.68
79.66
79.66
5.43
5.43
65.91
65.91
29 29
98
98
1.30
1.30
4.32
4.32
1.69
1.69
1.65
1.65
70
70 94
94
28,783
28,783
11,813
11,813
28,980
28,980
9,863
9,863
(0.68)
(0.68)
19.78
19.78
38 77
38
77
288288
536
536
1,996,310
1,996,310
377
,694
377
,694
1,495,107
1,495,107
310,309
310,309
33.52
33.52
21.72
21.72
79
79
62 62
3,079,429
3,079,429
455,104
455,104
2,302,178
2,302,178
332,143
332,143
33.76
33.76
37.02
37.02
297
,069
297
,069
412,654
412,654
252,321
252,321
281,612
281,612
17.73
17.73
46.53
46.53
9.65
9.65
90.67
90.67
18100
18
100
5.01
5.01
34.70
34.70
2.10
2.10
37
.48
37
.48
60 60
95
95
36.43
36.43
37.75
37.75
24.84
24.84
45.88
45.88
78 78
80
80
0.97
0.97
7.99
7.99
0.92
0.92
4.82
4.82
38
38 98
98
817
817
2,020
2,020
1,107
1,107
1,682
1,682
(26.25)
(26.25)
20.09
20.09
11 78
11
78
284
513284
513
8,607
,617
8,607
,617
4,171,989
4,171,989
9,205,023
9,205,023
3,266,935
3,266,935
(6.49)
(6.49)
27.70
27.70
13 70
13
70
4,148,665
4,148,665
3,294,694
3,294,694
4,112,463
4,112,463
2,561,332
2,561,332
0.88
0.88
28.63
28.63
2,248,586
2,110,268
2,248,586
2,110,268
2,269,913 1,543,034
1,543,034
2,269,913
6.55
6.55
47
.11
47
.11
54.20
54.20
68.90
68.90
81 94
81
94
2.82
2.82
31.58
31.58
2.54
2.54
25.82
25.82
45 45
93
93
11.13
11.13
69.10
69.10
11.75
11.75
60.89
60.89
40 40
95
95
1.68
1.68
2.94
2.94
5.92
5.92
2.25
2.25
78
78 87
87
1,229,660
1,229,660
7,024
7,024
1,315,003
1,315,003
6,055
6,055
(6.49)
(6.49)
15.99
15.99
26 71
26
71
283
510283
510
(0.09)
372,957
372,957
(0.09)
246,752
246,752 122.79
122.79
21
21
97 97
1,045,855
1,045,855
2,788,119
2,788,119
967
,491
967
,491
1,570,868
1,570,868
8.10
8.10
77
.49
77
.49
20.98
20.98
188.48
188.48
27.00
27.00
16.64
16.64
53 34
53
34
13.14
13.14
33.08
33.08
9.05
9.05
23.73
23.73
80 80
94
94
18.99
18.99
58.19
58.19
15.59
15.59
48.17
48.17
55 55
89
89
0.96
0.96
5.47
5.47
1.01
1.01
8.96
8.96
37
37 96
96
1,117
1,117
7,480
7,480
1,156
1,156
4,446
4,446
(3.38)
(3.38)
68.23
68.23
31 96
31
96
277277
506
506
5.99
5.99
39.88
39.88
28
28 44,063,370
44,063,370
42,400,315
66,287 42,400,315
47,718
85 85
66,287
47,718
3.92
3.92
38.91
38.91
91 91
19.23
19.23
71
71 104.00
104.00
42.04
42.04
33.70
33.70
86
81,101,999
86 105,106,630
105,106,630
81,101,999
24,433,611 21,364,186
21,364,186
80 80
24,433,611
29.60
,949)
,420,705)
29.60
(29,037
,949)(17
(17
,420,705)
14.37 (29,037
11,893,454
11,531,868
14.37
11,893,454
11,531,868
Servios
Servios
Transportes
Transportes
e Armazenagem
e Armazenagem
54
4 54
4
Socremo
Socremo
- Banco
Banco
de de
Microfinanas,
Microfinanas,
SASA
LETSHEGO
LETSHEGO
- Financial
- Financial
Services
Services
Mozambique,
Mozambique,
SASA
Actividades
Actividades
Financeiras
Financeiras
e de
e de
Seguros
Seguros
55
5 55
5
Standard
Standard
Bank,
Bank,
SARL
SARL
Cowi
Cowi
Moambique,
Moambique,
LdaLda
Actividades
Actividades
Financeiras
Financeiras
e de
e de
Seguros
Seguros 4,585,240
4,585,240
Servios
Servios
237
,520
237
,520
4,325,977
4,325,977
169,807
169,807
56
6 56
6
Vale
Vale
Moambique,
Moambique,
SA
SA LdaLda
Sasol
Sasol
Petroleum
Petroleum
Temane,
Temane,
Indstria
Indstria
11,460,892
11,460,892
7,714,506
7,714,506
8,068,955
8,068,955
5,769,993
5,769,993
57
7 57
7
African
African
Lda
MPDC
MPDC
-Petroleum,
Sociedade
-Petroleum,
Sociedade
deLda
de
Desenvolvimento
Desenvolvimento
do do
Porto
Porto
de de
Maputo,
Maputo,
SASA
Comrcio
Comrcio
Transportes
Transportes
e Armazenagem
e Armazenagem
1,211,762
1,211,762
2,764,549
2,764,549
916,017
916,017
2,308,068
2,308,068
32.29
32.29
19.78
19.78
78
59
59 78
310,987
310,987
2,623,742
2,623,742
151,005
151,005
2,144,856
2,144,856
58
8 58
8
Moza
Moza
Banco,
Banco,
SASA
Grindrod
Grindrod
Mozambique,
Mozambique,
LdaLda
1,197
,345
Actividades
Actividades
Financeiras
Financeiras
e de
e de
Seguros
Seguros 1,170,254
1,197
,345
Servios
Servios
1,170,254
599,795
599,795
899,657
899,657
99.63
99.63
30.08
30.08
95
95 14,820,073
14,820,073
729,458
75 75
729,458
8,689,027
8,689,027
509,629
509,629
70.56
70.56
43.14
43.14
59
9 59
9
Medis
Medis
Farmaceutica,
Farmaceutica,
LdaLda
Agrifocus,
Agrifocus,
Lda.
Lda.
Comrcio
Comrcio
362,041
362,041
648,000
648,000
310,253
310,253
538,000
538,000
16.69
16.69
20.45
20.45
53
53
60 60
249,766
249,766
596,000
596,000
215,527
215,527
486,000
486,000
15.89
15.89
22.63
22.63
39,472
39,472
385,000
385,000
32,895
32,895
321,000
321,000
60
10 60
10
Tropigalia,
Tropigalia,
LdaLda
CONSULTEC
CONSULTEC
- Consultores
- Consultores
Associados,
Associados,
LdaLda
Comrcio
Comrcio
Servios
Servios
500,544
500,544
255,581
255,581
396,412
396,412
202,959
202,959
26.27
26.27
25.93
25.93
69
69
68 68
- 202,727
202,727
178,084
178,084
169,841
169,841
- 19.36
19.36
65,880
65,880
55,569
55,569
58,499
58,499
47,547
47,547
61
11 61
11
EDM
EDM
- Electricidade
- Electricidade
Moambique,
Moambique,
E.PE.P
. .
Intermetal,
Intermetal,
SASA de de
Servios
Servios
Comrcio
Comrcio
10,205,956
10,205,956
258,089
258,089
8,723,552
8,723,552
199,667
199,667
16.99
16.99
29.26
29.26
54
43,578,153
38,516,805
74 43,578,153
145,892 38,516,805
114,354
74 54
145,892
114,354
13.14
13.14
18,532,151
18,394,536
27.58 18,532,151
90,767 18,394,536
73,148
27.58
90,767
73,148
62
12 62
12
Unicomo
Unicomo
Moambique,
Moambique,
Lda
Seguradora
Seguradora
Internacional
Internacional
deLda
de
Moambique
Moambique
(SIM),
(SIM),
SASA
1,093,426
Comrcio
Comrcio
1,093,426
Actividades
Actividades
Financeiras
Financeiras
e de
e de
Seguros
Seguros 2,368,000
2,368,000
977
977
,416
,416
1,986,000
1,986,000
11.87
11.87
19.23
19.23
40
40
57 57
34.86
34.86
8.24
8.24
63
13 63
13
Lalgy
Lalgy
Truck
Truck
Sales,
Sales,
Lda
Lda e Construes
Teixeira
Teixeira
Duarte
Duarte
Engenharia
Engenharia
e Construes
Moambique,
Moambique,
LdaLda
Comrcio
Comrcio
Construo
Construo
272,181
272,181
1,942,184
1,942,184
365,369
365,369
(25.51)
1,257
1,257
,087
,087 (25.51)
54.50
54.50
5 91
5
91
288,946
288,946
2,557
,977
2,557
,977
265,757
265,757
2,679,158
2,679,158
8.73
8.73
(4.52)
(4.52)
109,996
109,996
900,387
900,387
64
14 64
14
Malala
Malala
Investment
Investment
Group,
Group,
Global
Global
Alliance
Alliance
Seguros,
Seguros,
SALda
SALda
312,928
Comrcio
Comrcio
312,928
Actividades
Actividades
Financeiras
Financeiras
e de
e de
Seguros
Seguros 2,470,202
2,470,202
100,981
100,981 209.89
209.89
1,800,450
1,800,450
37.20
37
.20
100
83
83100
16,441
16,441
1,669,942
1,669,942
5,705
5,705
1,066,572
1,066,572
188.19
188.19
56.57
56.57
(153)
(153)
456,213
456,213
65
15 65
15
Manica
Manica
Freight
Freight
Services
Services
(Mo),
(Mo),
SA
SA
Hidroelctrica
Hidroelctrica
de
de
Cahora
Cahora
Bassa,
Bassa,
SARL
SARL
Transportes
Transportes
e Armazenagem
Indstria
3,393,796
3,393,796
9,110,774
9,110,774
(0.98)
184,503
154,696
(0.98) 43,239,608
184,50341,660,405
154,696
(2.49)
43,239,608
41,660,405
(2.49)
66
16 66
16
Mota
Mota
- Engil
- Engil
Eng.
Eng.
Construo
Construo
frica,
frica,
SASA
Companhia
Companhia
Moambicana
Moambicana
de de
Hidrocarbonetos,
Hidrocarbonetos,
SASA
Construo
Construo
Indstria
Indstria
6,699,685
6,699,685
2,237
,464
2,237
,464
67
17 67
17
Business
Business
Connexion
Connexion
Mozambique,
Mozambique,
Lda
Emose
Emose
- Empresa
- Empresa
Moambicana
Moambicana
deLda
de
Seguros,
Seguros,
SASA
281,151
Servios
Servios
281,151
Actividades
Actividades
Financeiras
Financeiras
e de
e de
Seguros
Seguros 4,340,000
4,340,000
68
18 68
18
Aeroportos
Aeroportos
de
de
Moambique,
Moambique,
E.P
E.P
. .
CIMBETO
CIMBETO
- Cimpor
- Cimpor
Beto
Beto
Moambique,
Moambique,
SASA
Transportes
Transportes
e Armazenagem
e Armazenagem
Indstria
Indstria
1,346,020
1,346,020
846,819
846,819
1,045,097
1,045,097
544,575
544,575
69
19 69
19
Premier
Premier
Group,
Group,
LdaLdaCompanhia
Hollard
Hollard
Moambique
Moambique
Companhia
de de
Seguros
Seguros
, SARL
, SARL
Comrcio
Comrcio
1,052,802
Actividades
Actividades
Financeiras
Financeiras
e de
e de
Seguros
Seguros 1,052,802
1,057
,622
1,057
,622
692,969
692,969
807
807
,429
,429
70 20
70
20
KPMG
KPMG
Auditores
Auditores
e Consultores,
e Consultores,
SASA
DHL
DHL
Moambique,
Moambique,
Lda
Lda
Servios
Servios
Transportes
Transportes
e Armazenagem
e Armazenagem
503,374
503,374
500,078
500,078
439,619
439,619
361,906
361,906
71 21
71
21
Hoteis
Hoteis
Polana,
Polana,
SAAlgodoeira
SAAlgodoeira
SAN
SAN
- Sociedade
- Sociedade
do do
Niassa
Niassa
- JFS,
- JFS,
SARL
SARL
Alojamento,
Alojamento,
e Similares
Agricultura
Agricultura
e Restaurao
Pescas
e Restaurao
Pescas e Similares
72 22
72
22
BPPetrogal
BP
Moambique,
Moambique,
LdaLda
Petrogal
Moambique,
Moambique,
LdaLda
Comrcio
Comrcio
73
23 73
23
BancABC,
SA
SA
ESBancABC,
ES
Contact
Contact
Center
Center
Moambique
Moambique
(ex.Select
(ex.Select
Vedior
Vedior
Moambique)
Moambique)
Actividades
Actividades
Financeiras
e de
e de
Seguros
Seguros
Servios
Servios Financeiras
74 24
74
24
Hariche
Hariche
Group,
Group,
LdaLda
EMOCIL
EMOCIL
, Lda
, Lda
Comrcio
Comrcio
Construo
Construo
75 25
75
25
Transportes
Transportes
Lalgy,
LdaLda de de
CFM
CFM
- Portos
- Portos
eLalgy,
Caminhos
e Caminhos
Ferro
Ferro
de de
Moambique,
Moambique,
E.PE.P
. .
Transportes
Transportes
e Armazenagem
e Armazenagem
1,755,563
1,755,563
8,272,802
8,272,802
1,541,742
1,541,742
6,649,948
6,649,948
76 26
76
26
LAM
LAM
- Linhas
Linhas
Areas
Areas
de
de
Moambique,
Moambique,
SAServices,
SA
MAHS
MAHS
- -Mozambique
- Mozambique
Airport
Airport
Handling
Handling
Services,
LdaLda
Transportes
Transportes
e Armazenagem
e Armazenagem
5,297
,078
5,297
,078
296,799
296,799
77 27
77
27
Salvor
Salvor
Hoteis
Hoteis
Moambique,
Moambique,
SARL
SARL
Tecnel
Tecnel
Service,
Service,
Lda
Lda
Alojamento,
Alojamento,
Restaurao
Restaurao
e Similares
e Similares
Servios
Servios
268,990
268,990
523,411
523,411
78 28
78
28
Mega
Mega
- Distribuio
- Lda
Distribuio
Moambique,
Moambique,
SASA
Construa,
Construa,
Lda de de
Comrcio
Comrcio
79 29
79
29
Teledata
Teledata
de
de
Moambique,
Moambique,
LdaLda SASA
Mozre
Mozre
- Moambique
- Moambique
Resseguros,
Resseguros,
Comunicaes
Comunicaes
Actividades
Actividades
Financeiras
Financeiras
e de
e de
Seguros
Seguros
287
,355
287
,355
480,632
480,632
299,561
299,561
412,102
412,102
(4.07)
(4.07)
16.63
16.63
15 52
15
52
80 30
80
30
Topack
Topack
Moambique,
Moambique,
SARL
SARL
Mozambique
Mozambique
Leaf
Leaf
Tobacco,
Tobacco,
LdaLda
Indstria
Indstria
Agricultura
Agricultura
e Pescas
e Pescas
303,065
303,065
6,508,039
6,508,039
257
257
,793
,793
5,868,252
5,868,252
17.56
17.56
10.90
10.90
55
55
37 37
81
31 81
31
CMA
CMA
CGM
CGM
Mozambique,
Mozambique,
Lda
Lda
Moambique
Moambique
Car
Car
Rental,
Rental,
Lda
Lda
Transportes
Transportes
e Armazenagem
Servios
1,060,638
1,060,638
510,157
510,157
1,400,970
1,400,970
(24.29)
465,470
465,470 (24.29)
9.60
9.60
6 35
6
35
82 32
82
32
Globe
Globe
Musica,
Musica,
LdaLda
Somotor,
Somotor,
SARL
SARL
Comrcio
Comrcio
2,425,746
2,425,746
384,218
384,218
2,865,570
2,865,570
(15.35)
357
357
,997
,997 (15.35)
7.32
7.32
7 30
7
30
83 33
83
33
Mozal,
Mozal,
SARL
SARL
Total
Total
Moambique,
Moambique,
SARL
SARL
Indstria
Indstria
Comrcio
Comrcio
32,261,000
32,261,000
6,033,647
6,033,647
34,640,000
34,640,000
4,723,996
4,723,996
84 34
84
34
Telecomunicaes
Telecomunicaes
de
de
Moambique,
Moambique,
SASA
FNB
FNB
- First
- First
National
National
Bank
Bank
Moambique,
Moambique,
SASA
Comunicaes
Comunicaes
3,140,772
Actividades
Actividades
Financeiras
Financeiras
e de
e de
Seguros
Seguros 3,140,772
791,262
791,262
3,239,631
3,239,631
512,402
512,402
(3.05)
(3.05)
54.42
54.42
18 90
18 12,570,842
12,570,842
11,088,572
8,029,099 11,088,572
5,807
,154
90
8,029,099
5,807
,154
85 35
85
35
Ferpinta
Ferpinta
Moambique,
SA
SA SARL
MEX
MEX
- Moambique
-Moambique,
Moambique
Expresso,
Expresso,
SARL
Indstria
Indstria
Transportes
Transportes
e Armazenagem
e Armazenagem
534,663
534,663
818,864
818,864
437
,543
437
,543
565,552
565,552
22.20
22.20
44.79
44.79
63
63
87 87
661,053
661,053
471,644
471,644
706,764
706,764
102,143
102,143
(6.47)
(6.47)
361.75
361.75
4,539
4,539
78,071
78,071
55,656
55,656
72,936
72,936
86 36
86
36
Entreposto
Entreposto
Comercial
Comercial
de
de
Moambique,
Moambique,
SARL
SARL
G4S
G4S
Secure
Secure
Solutions,
Solutions,
Lda
Lda
Comrcio
Comrcio
Servios
Servios
1,497
,376
1,497
,376
1,403,117
1,403,117
1,552,200
1,552,200
1,252,573
1,252,573
(3.53)
(3.53)
12.02
12.02
17 41
17
41
2,855,524
2,855,524
1,000,211
1,000,211
2,791,309
2,791,309
896,411
896,411
2.30
2.30
11.58
11.58
849,813
849,813
206,192
206,192
843,513
843,513
121,268
121,268
0.75
0.75
70.03
70.03
87 37
87
37
Banco
Banco
nico,
nico,
SA
SA
Cervejas
Cervejas
de
de
Moambique,
Moambique,
SARL
SARL
613,488
Actividades
Actividades
Financeiras
Financeiras
e de
e de
Seguros
Seguros 9,851,983
613,488
Indstria
Indstria
9,851,983
241,333
241,333 154.21
154.21
9,062,322
9,062,322
8.71
8.71
98
98
34 34
8,957
,898
8,957
,898
9,303,810
9,303,810
6,879,165
6,879,165
7,754,453
7,754,453
30.22
30.22
19.98
19.98
935,841
935,841 1,033,951
1,033,951
5,590,971
5,140,039
5,590,971
5,140,039
88 38
88
38
Corredor
Corredor
de
Desenvolvimento
Desenvolvimento
Norte
Norte
(CDN),
(CDN),
SARL
SARL
Toyota
Toyota
dede
de
Moambique,
Moambique,
SASA do do
Transportes
Transportes
e Armazenagem
e Armazenagem
Comrcio
Comrcio
754,490
754,490
2,937
,366
2,937
,366
1,186,642
1,186,642
(36.42)
2,417
2,417
,651
,651 (36.42)
21.50
21.50
3 61
3
61
5,565,059
5,565,059
2,303,609
2,303,609
1,174,528
1,174,528
2,185,715
2,185,715
373.81
373.81
5.39
5.39
89
39 89
39
Portos
Portos
do do
Norte,
Norte,
SA
SA
Coca-Cola
Coca-Cola
Sabco
Sabco
(Moambique),
(Moambique),
SASA
Servios
Servios
Indstria
Indstria
898,924
898,924
4,320,590
4,320,590
- 3,895,490
3,895,490
- 10.91
10.91
0 38
0
38
445,540
445,540
3,665,781
3,665,781
- 2,694,567
2,694,567
- 36.04
36.04
90 40
90
40
Transportes
Transportes
Carlos
Carlos
Mesquita,
Mesquita,
LdaLda
TCNICA
TCNICA
Industrial,
Industrial,
SA
SA
Transportes
Transportes
e Armazenagem
e Armazenagem
Comrcio
Comrcio
385,525
385,525
1,045,921
1,045,921
386,788
386,788
631,461
631,461
(0.33)
(0.33)
65.64
65.64
20
20
93 93
374,950
374,950
425,051
425,051
430,775
430,775
209,302
209,302
(12.96)
(12.96)
103.08
103.08
58,176
58,176
100,888
100,888
50,010
50,010
89,256
89,256
91 41
91
41
Turvisa
Turvisa
- -Empreendimentos
- -Empreendimentos
Tursticos,
Televisa
Televisa
Sociedade
Sociedade
Tcnica
Tcnica
deTursticos,
de
Obras
Obras
eLda
Projectos,
eLda
Projectos,
LdaLda
498,045
Alojamento,
Alojamento,
Restaurao
Restaurao
e Similares
e Similares 1,056,556
498,045
Servios
Servios
1,056,556
479,003
479,003
774,269
774,269
3.98
3.98
36.46
36.46
25
25
82 82
1,301,993
1,301,993
1,099,061
1,099,061
1,169,333
1,169,333
1,067
,023
1,067
,023
11.34
11.34
3.00
3.00
342,732
342,732
77,451
77
,451
326,260
326,260
67,805
67
,805
92 42
92
42
TVAvenida
TV
Cabo
Cabo
Comunicao
Comunicao
Multimdia,
Multimdia,
Lda
Avenida
--Empreendimentos
--Empreendimentos
Tursticos
Tursticos
eLda
Hoteleiros,
e Hoteleiros,
LdaLda
Comunicaes
Comunicaes
Alojamento,
Alojamento,
Restaurao
Restaurao
e Similares
e Similares
662,931
662,931
238,970
238,970
532,504
532,504
262,828
262,828
24.49
24.49
(9.08)
(9.08)
66
9
9 66
1,078,281
1,078,281
462,384
462,384
766,326
766,326
444,963
444,963
40.71
40.71
3.92
3.92
105,512
105,512
206,035
206,035
93 43
93
43
PETROMOC
PETROMOC
-Moambique,
Petrleos
-Moambique,
Petrleos
de de
Moambique,
SASA
Cimentos
Cimentos
de de
SAMoambique,
SA
Comrcio
Comrcio
Indstria
Indstria
18,826,026
18,826,026
4,506,316
4,506,316
16,801,308
16,801,308
4,050,438
4,050,438
12.05
12.05
11.26
11.26
42
,660
42 15,400,283
15,400,283
12,267
,660
7,883,888 12,267
6,403,338
39 39
7,883,888
6,403,338
25.54
25.54
23.12
23.12
94 44
94
44
Banco
Banco
Procredit,
Procredit,
SAda
SAda
Terminal
Terminal
de
de
Carvo
Carvo
Matola,
Matola,
LdaLda
419,880
Actividades
Actividades
Financeiras
Financeiras
e de
e de
Seguros
Seguros 1,235,604
419,880
Transportes
Transportes
e Armazenagem
e Armazenagem
1,235,604
435,592
435,592
1,228,988
1,228,988
(3.61)
(3.61)
0.54
0.54
16 22
16
22
(1.17)
(1.17)
34.68
34.68
201,456
201,456
1,209,423
1,209,423
95 45
95
45
mCel
mCel
- Moambique
- Moambique
Celular,
Celular,
SASA
Intelec
Intelec
Holdings,
Holdings,
SASA
Comunicaes
Comunicaes
Servios
Servios
8,192,669
8,192,669
7,222,024
7,222,024
9,014,153
9,014,153
5,853,024
5,853,024
(9.11)
(9.11)
23.39
23.39
8 64
8 14,690,252
14,690,252
12,571,621
8,669,116 12,571,621
7,163,468
64
8,669,116
7,163,468
16.85
16.85
21.02
21.02
96 46
96
46
C.M.C.
C.M.C.
Africa
Africa
Austral,
Austral,
Lda
Banco
Banco
Comercial
Comercial
e de
e Lda
de
Investimentos
Investimentos
(BCI),
(BCI),
SASA
Construo
Construo
3,633,430
Actividades
Actividades
Financeiras
Financeiras
e de
e de
Seguros
Seguros 3,633,430
5,191,286
5,191,286
3,658,150
3,658,150
4,371,027
4,371,027
(0.68)
(0.68)
18.77
18.77
19 56
22,874,155
19 21,636,432
21,636,432
22,874,155
82,167
,820 68,094,227
68,094,227
56
82,167
,820
(5.41)
(5.41)
20.67
20.67
97
47 97
47
guas
guas
da da
Regio
Regio
Maputo,
Maputo,
SASA
Dataserv,
Dataserv,
Lda
Lda de de
Servios
Servios
Comrcio
Comrcio
1,141,140
1,141,140
348,717
348,717
1,124,317
1,124,317
334,969
334,969
1.50
1.50
4.10
4.10
23
26
26 23
1,195,044
1,195,044
175,263
175,263
1,048,667
1,048,667
137
,227
137
,227
13.96
13.96
27.72
27.72
98 48
98
48
Empresa
Empresa
Municipal
Municipal
Transportes
Transportes
Pblicos
Pblicos
de de
Maputo,
Maputo,
E.PE.P
. .
Gespetro,
Gespetro,
SARL
SARL de de
Transportes
Transportes
e Armazenagem
e Armazenagem
Comrcio
Comrcio
490,743
490,743
1,309,503
1,309,503
951,703
951,703 (48.44)
(48.44)
1,143,261
1,143,261
14.54
14.54
2 50
2
50
750,073
750,073
201,628
201,628
928,227
928,227
197
,250
197
,250
(19.19)
(19.19)
2.22
2.22
38,318
38,318
40,476
40,476
99 49
99
49
Servitrade
Servitrade
Servios
Servios
Investimentos
Investimentos
e Trading,
e Trading,
Lda
Lda
BIM
BIM
- Banco
- Banco
Internacional
Internacional
de de
Moambique,
Moambique,
SA
SA
1,274,567
Construo
Construo
1,274,567
Actividades
Actividades
Financeiras
Financeiras
e de
e de
Seguros
Seguros 8,039,551
8,039,551
1,153,647
1,153,647
7,459,047
7,459,047
10.48
10.48
7.78
7.78
36
2,682,190
2,320,801
36 85,428,239
2,682,190 70,646,624
2,320,801
85,428,239
70,646,624
32 32
15.57
n.dn.d 11,988,914
n.dn.d
15.57 14,238,022
20.92
14,238,022
11,988,914
20.92
6.29
6.29
45.95
45.95
791,529
791,529
395,736
395,736
372,623
372,623
549,750
549,750
551,696
551,696
5,569,000
5,569,000
409,103
409,103
5,145,000
5,145,000
105.94
105.94
22.33
22.33
282,353
282,353
464,070
464,070
233,391
233,391
160,866
160,866
6,779,501
9.63
6,779,501
6,183,818
9.63
37,660 6,183,818
(1,183) 3283.43
3283.43
37,660
(1,183)
97,720
97,720
1,391,598
1,391,598
15.39
15.39
56.81
56.81
30 84
30
84
27
.18
27
.18
7.99
7.99
28.75
28.75
(13.19)
(13.19)
21.84
21.84
(230.89)
(230.89)
57100
57
100
0.84
0.84
3.78
3.78
0.88
0.88
1.62
1.62
26
26 93
93
4,562
4,562
3,345
3,345
4,469
4,469
2,878
2,878
2.09
2.09
16.24
16.24
44 72
44
72
276505
276
505
(66.69)
(66.69)
3.14
3.14
(27
.63)
(27
.63)
48.68
48.68
4 78
4
78
(101.36)
(101.36)
41.24
41.24
(197
(197
.09)
.09)
43.02
43.02
2 98
2
98
50.01
50.01
27.16
27.16
182.58
182.58
23.29
23.29
85 85
68
68
3.62
3.62
3.48
3.48
1.91
1.91
3.76
3.76
91
91 89
89
5,384
5,384
41,144
41,144
8,349
8,349
31,703
31,703
(35.50)
(35.50)
29.78
29.78
7 89
7
89
275275
502
502
29.69
29.69
85.05
85.05
31.42
31.42
53.04
53.04
60 60
79
79
1.55
1.55
23.14
23.14
1.40
1.40
25.62
25.62
34
88 34
88
21.66
21.66
59.67
59.67
18.74
18.74
132.23
132.23
59
90 59
90
0.24
0.24
1.23
1.23
0.44
0.44
0.96
0.96
4
4 66
66
20,196
20,196
5,574
5,574
20,585
20,585
4,392
4,392
(1.89)
(1.89)
26.90
26.90
35
35
87 87
270
469270
469
2.18
2.18
94.19
94.19
9.12
9.12
74.68
74.68
16 96
16
96
1.86
1.86
21.16
21.16
(11.23)
(11.23)
19.92
19.92
40 40
87
87
1.66
1.66
60.00
60.00
(5.87)
(5.87)
103.96
103.96
19 91
19
91
0.64
0.64
3.62
3.62
0.73
0.73
2.52
2.52
14
14 92
92
3,143
3,143
61,592
61,592
2,563
2,563
78,231
78,231
22.60
22.60
(21.27)
(21.27)
82
14 82
14
266266
455
455
19.99
19.99
19.94
19.94
15.80
15.80
64.60
64.60
32 92
32
92
1.82
1.82
9.88
9.88
2.31
2.31
12.08
12.08
38 38
77
77
18.18
18.18
18.13
18.13
24.45
24.45
22.38
22.38
54 54
53
53
0.97
0.97
2.65
2.65
1.08
1.08
2.74
2.74
39
39 84
84
4,702
4,702
9,257
9,257
4,432
4,432
7,173
7,173
6.08
6.08
29.05
29.05
50 88
50
88
266266
454
454
12.62
12.62
16.87
16.87
27.41
27-.41-
0 56
0
56
1.47
1.47
8.75
8.75
0.79
0.79
6.42
6.42
33 33
73
73
11.87
11.87
43.36
43.36
5.56
5.56
30.21
30.21
41 41
81
81
1.40
1.40
1.25
1.25
1.68
1.68
3.17
3.17
74
74 68
68
2,902
2,902
4,524
4,524
2,743
2,743
1,961
1,961
5.77
5.77
130.68
130.68
49 99
49
99
266266
445
445
0.75
0.75
24.09
24.09
42.53
42.53
62.22
62.22
72 89
72
89
(0.67)
(0.67)
9.14
9.14
1.20
1.20
7.70
7.70
15
76 15
76
(0.37)
(0.37)
28.79
28.79
0.69
0.69
23.47
23.47
16 71
16
71
1.03
1.03
3.54
3.54
1.12
1.12
2.57
2.57
42
42 90
90
2,929
2,929
3,019
3,019
2,594
2,594
2,980
2,980
12.93
12.93
1.29
1.29
66 42
66
42
265265
442
442
13.46
13.46
11.53
11.53
15.38
15.38
28.14
28.14
29 57
29
57
0.92
0.92
16.85
16.85
0.95
0.95
19.74
19.74
27 27
83
83
12.61
12.61
26.85
26.85
13.26
13.26
29.63
29.63
42 42
67
67
1.10
1.10
17
.94
17
.94
1.10
1.10
43.62
43.62
51
51100
100
10,171
10,171
16,164
16,164
8,612
8,612
13,556
13,556
18.11
18.11
19.23
19.23
74 76
74
76
263263
440
440
95,580
95,580
765,010
765,010
15.08
15.08
17.70
17.70
38.07
38.07
35.20
35.20
69 64
69
64
5.30
5.30
6.97
6.97
4.60
4.60
12.70
12.70
62 62
68
68
14.02
14.02
16.26
16.26
19.95
19.95
23.30
23.30
44 44
48
48
1.57
1.57
1.23
1.23
1.51
1.51
1.23
1.23
77
77 65
65
4,286
4,286
5,328
5,328
6,894
6,894
3,781
3,781
(37
.82)
(37
.82)
40.94
40.94
6 93
6
93
263263
429
429
(577)
(577)
330,062
330,062
73.48
73.48
38.22
38.22
(0.93)
(0.93)
27.32
27.32
6 55
6
55
0.14
0.14
4.97
4.97
0.35
0.35
4.40
4.40
19 59
19 (116.16)
(116.16)
59
31.21
31.21
(121.32)
(121.32)
30.65
30.65
3 74
3
74
0.89
0.89
1.27
1.27
0.87
0.87
1.25
1.25
33
33 69
69
4,535
4,535
27
,447
27
,447
1,712
1,712
21,824
21,824
164.98
164.98
25.77
25.77
100
86100
86
261261
426
426
19.27
19.27
3.79
3.79
11.81
11.81
76.40
76.40
26 26
97
97
0.30
0.30
25.36
25.36
(0.27)
(0.27)
38.50
38.50
22
90 22
90
6.01
6.01
5.44
5.44
(78.21
.47)
(78.21
.47)
30
28 30
28
1.08
1.08
2.47
2.47
0.98
0.98
3.90
3.90
49
83 49
83
8,432
8,432
27
,650
27
,650
7,125
7,125
13,084
13,084
18.34
18.34
111.32
111.32
75
75
97 97
260
422260
422
75,347
75,347
752,011
752,011
1,351,355
1,351,355
1,322,525
544,752 1,322,525
280,523
544,752
280,523
84,850
74,787
84,850
74,787
1,567
,000 1,405,000
1,405,000
1,567
,000
2,835,826
2,835,826
8,629,212
8,629,212
19.68
19.68
5.58
5.58
58
1,562,662
1,578,077
1,562,662
1,578,077
27 56,597
56,597
,935 58,044,628
58,044,628
27 58
,935
7,282,728
7,282,728
1,968,365
1,968,365
(8.01)
(8.01)
13.67
13.67
10 46
6,780,794
10 10,432,022
6,780,794
10,432,022
46
4,381,177
4,381,177
8,612,283
8,612,283
54.77
54.77
21.13
21.13
729,449
255,259
729,449 4,254,432
255,259
4,966,981
4,254,432
4,966,981
185.77
185.77
16.75
16.75
10.76
10.76
47.61
47.61
23 77
23
77
7.08
7.08
39.30
39.30
2.61
2.61
41.13
41.13
69 69
96
96
96.31
96.31
19.07
19.07
134.90
134.90
21.82
21.82
99 99
56
56
1.08
1.08
6.61
6.61
1.03
1.03
10.33
10.33
48
48 97
97
6,009
6,009
106,546
106,546
9,283
9,283
100,942
100,942
(35.27)
(35.27)
5.55
5.55
8 48
8
48
257257
420
420
14 96
14
96
203,395
203,395
7,700,000
7,700,000
204,295
204,295
5,484,000
5,484,000
(0.44)
(0.44)
40.41
40.41
109,381
101,795
109,381 1,813,000
101,795
2,098,000
1,813,000
2,098,000
7.45
7.45
15.72
15.72
53.78
53.78
27.25
27.25
80 54
80
54
2.70
2.70
3.43
3.43
0.94
0.94
3.69
3.69
44 44
51
51
.18
.187.62
7.62
5.53
5.53
4.20
4.20
33 33
34
34
2.06
2.06
2.20
2.20
1.90
1.90
1.76
1.76
80
80 81
81
3,514
3,514
13,252
13,252
7,849
7,849
5,824
5,824
(55.22)
(55.22)
127
.54.54
127
4
4 98
98
255
414255
414
28.79
28.79
55.50
55.50
73
73 12,944,202
12,944,202
493,080
92 92
493,080
11,717
,338
11,717
,338
340,105
340,105
10.47
10.47
44.98
44.98
774,332
774,332
132,758
132,758
953,413
953,413
95,977
95,977
(18.78)
(18.78)
38.32
38.32
5.98
5.98
26.92
26.92
11 52
11
52
(12.45)
(12.45)
4.34
4.34
(172.49
.58)
(172.49
.58)
8 (19.40)
(19.40)
8 57
57
32.16
32.16
(17
.49)
(17
.49)
13.68
13.68
7
7 75
75
1.55
1.55
1.03
1.03
1.68
1.68
0.94
0.94
76
76 44
44
1,702
1,702
13,442
13,442
1,412
1,412
10,085
10,085
20.49
20.49
33.29
33.29
79
79 91
91
254
411254
411
51.93
51.93
30.99
30.99
89
89
77 77
927
,748
927
,748
1,926,151
1,926,151
766,778
766,778
1,295,917
1,295,917
20.99
20.99
48.63
48.63
87
,794
87,794
376,230
376,230
13,514
13,514
281,736
281,736
549.65
549.65
33.54
33.54
9.46
9.46
19.53
19.53
17 38
17
38
0.81
0.81
8.91
8.91
0.49
0.49
12.48
12.48
26
74 26
74
16.86
16.86
28.65
28.65
28.80
28.80
45.32
45.32
50 50
70
70
0.49
0.49
3.24
3.24
0.45
0.45
3.28
3.28
8
8 88
88
1,801
1,801
18,235
18,235
1,634
1,634
16,821
16,821
10.21
10.21
8.40
8.40
62
62 58
58
252252
405
405
14.50
14.50
38.18
38.18
49
49
84 84
219,186
219,186
322,605
322,605
196,770
196,770
188,734
188,734
11.39
11.39
70.93
70.93
40,434
40,434
78,008
78,008
42,697
42,697
50,074
50,074
(5.30)
(5.30)
55.79
55.79
18.45
18.45
24.18
24.18
37 45
37
45
(0.45)
(0.45)
5.59
5.59
2.35
2.35
(2.98)
(2.98)
17
17 64
64
(5.44)
(5.44)
43.63
43.63
27.50
27
.50
(18.47)
(18.47)
13
13 82
82
1.17
1.17
1.39
1.39
1.25
1.25
1.66
1.66
61
61 73
73
1,528
1,528
4,546
4,546
1,349
1,349
4,360
4,360
13.29
13.29
4.26
4.26
67
67 46
46
244244
394
394
134,975
134,975
185,711
185,711
105,853
105,853
96,672
96,672
27.51
27.51
92.10
92.10
11.63
11.63
63.44
63.44
25 90
25
90
6.43
6.43
18.05
18.05
(174.65
.68)
(174.65
.68)
66 66
84
84
24.18
24.18
55.31
55.31
(73.27)
(73.27)
21.45
21.45
61 61
88
88
0.37
0.37
2.89
2.89
0.51
0.51
1.27
1.27
5
5 85
85
1,202
1,202
1,297
1,297
1,120
1,120
1,648
1,648
7(21.27)
.317.31
(21.27)
52
13 52
13
242242
391
391
2,293,422
2,293,422
2,406,269
847
,656 2,406,269
715,171
847
,656
715,171
(4.69)
(4.69)
18.52
18.52
55.53
55.53
32.36
32.36
83 62
83
62
(1.89)
(1.89)
2.18
2.18
2.07
2.07
2.67
2.67
11
11 42
42
(4.80)
(4.80)
16.95
16.95
5.14
5.14
17
.87
17
.87
14
14 51
51
1.36
1.36
1.19
1.19
1.67
1.67
1.20
1.20
72
72 64
64
39,910
39,910
53,070
53,070
40,310
40,310
39,884
39,884
(0.99)
(0.99)
33.06
33.06
37
37 90
90
241241
385
385
7.75
7.75
42.13
42.13
14 71
14
71
4.28
4.28
3.15
3.15
11.00
11.00
6.76
6.76
55
48 55
48
4.46
4.46
45.69
45.69
9.79
9.79
113.29
113.29
23
83 23
83
1.04
1.04
1.79
1.79
1.06
1.06
2.06
2.06
46
79 46
79
4,033
4,033
263
263
4,190
4,190
330
330
(3.75)
(3.75)
(20.47)
(20.47)
30
15 30
15
235
384235
384
(5.74)
298,256
298,256 122.45
(5.74)
1,951,000
1,951,000
122.45
452,651
452,651
432,714
432,714
416,784
416,784
402,953
402,953
8.61
8.61
7.39
7.39
33
33
31 31
1,160,301
1,160,301
292,740
292,740
1,184,827
1,184,827
286,818
286,818
(2.07)
(2.07)
2.06
2.06
5,986,465
5,986,465
6,076,548
6,076,548
5,824,766
5,824,766
4,646,508
4,646,508
2.78
2.78
30.78
30.78
24
76
76 24
4,129,910
4,129,910
2,619,660
2,619,660
3,938,809
3,938,809
1,827
,560
1,827
,560
4.85
4.85
43.34
43.34
752,176
752,176
314,201
314,201
599,213
599,213
206,863
206,863
25.53
25.53
51.89
51.89
67
88
88 67
9,303,683
9,303,683
56,986
56,986
6,284,852
6,284,852
48,940
48,940
48.03
48.03
16.44
16.44
721,142
721,142
24,008
24,008
721,924
721,924
19,335
19,335
(0.11)
(0.11)
24.17
24.17
13.09
754,724
754,724
13.09
257
257
,420
,420 164.04
164.04
44
44
99 99
48.18
48.18
138.41
138.41
187
,502
187
,502
46,278
46,278
113,176
113,176
21,515
21,515
65.67
65.67
115.10
115.10
28.15
28.15
5.38
5.38
58
10 58
10
1.56
1.56
3.64
3.64
1.71
1.71
(19.25)
(19.25)
35 35
52
52
8.83
8.83
73.05
73.05
16.04
16.04
(460.66)
(460.66)
37 37
96
96
0.84
0.84
1.00
1.00
0.82
0.82
0.87
0.87
25
25 40
40
3,632
3,632
1,546
1,546
3,900
3,900
1,247
1,247
(6.88)
(6.88)
24.06
24.06
25
25 84
84
224224
381
381
12.15
190,560
174,107
12.15
190,560 25,627
174,107
7.42 26,992,028
26,992,028
25,627
,244
7.42
,244
9.45
9.45
5.33
5.33
14.16
14.16
66.21
66.21
28 93
28
93
0.94
0.94
20.21
20.21
0.96
0.96
20.87
20.87
28 28
86
86
9.02
9.02
6.36
6.36
8.90
8.90
5.55
5.55
38 38
31
31
0.62
0.62
2.31
2.31
0.57
0.57
3.19
3.19
12
12 82
82
2,353
2,353
1,778
1,778
2,058
2,058
1,917
1,917
14.33
14.33
(7.24)
(7.24)
69
69 24
24
223223
381
381
853,546
853,546
679,686
679,686
426,967
426,967
1,736,554
1,736,554
Barclays
Barclays
Bank
Moambique,
SASA
Petromoc
Petromoc
eBank
Sasol,
e Moambique,
Sasol,
SASA
1,194,130
Actividades
Actividades
Financeiras
Financeiras
e de
e de
Seguros
Seguros 3,026,391
1,194,130
Comrcio
Comrcio
3,026,391
51 51
Ferro
Ferro
Moambique,
Moambique,
LdaLda
Comrcio
Comrcio
52 52
CETA
CETA
- Engenharia
- Engenharia
e Construes,
e Construes,
SASA
Construo
Construo
Actividades
Actividades
Financeiras
Financeiras
e de
e de
Seguros
Seguros
5,219
5,219
6,703
6,703
519,389
519,389
308,328
308,328
Construo
Construo
Transportes
Transportes
e Armazenagem
e Armazenagem
Servios
Servios
4,469
4,469
30 30
760,411
760,411
529,848
529,848
MOTRACO,
MOTRACO,
SARL
Cornelder
Cornelder
deSARL
de
Moambique,
Moambique,
SASA
Socremo
Socremo
- Banco
- Banco
de de
Microfinanas,
Microfinanas,
SASA
(%)(%)
7 7
1.131.13
1,275,548
1,275,548
2013
2013
CETA
CETA
- Engenharia
- Engenharia
e Construes,
e SARL
Construes,
Matola
Matola
Cargo
Cargo
Terminal,
Terminal,
SARL SASA
MOTRACO,
MOTRACO,
SARL
SARL
39.93
39.93
308308
47
47
94 94
53
3 53
3
54 54
41.08
41.08
0.32
0.32
Rent.
Rent.
C. C.
P. P.
54 54
51 51
Pontuao
Pontuao
52
2 52
2
53 53
35 35
7.827.82
13.81
13.81
78.33
78.33
Comrcio
Comrcio
Transportes
Transportes
e Armazenagem
e Armazenagem
16.67
16.67
Rent
Rent
VNVN
9,915
9,915
695,508
695,508
221,910
221,910
Comrcio
Comrcio
Ferro
Ferro
Moambique,
Moambique,
Lda
Lda
Maputo
Maputo
Car
Car
Terminal,
Terminal,
Lda
Lda
100
50100
50
Autonomia
Autonomia
42 42
Financeira
Financeira
10,691
10,691
15.98
2,609,342
2,609,342
15.98
2012
2012 %13/12
%13/12
Petromoc
Petromoc
e Sasol,
e Sasol,
SASA
51
1 51
1
502013
50
2013
21.21
21.21
28 28
666,005
666,005
860,097
860,097
449,467
449,467
360,757
360,757
13.87
13.87
24.40
24.40
48
1,345,569
48 40,764,353
1,345,569
40,764,353
65 65
1,199,755
1,199,755
37
,947
,610
37
,947
,610
4,678,313
4,678,313
232,258
232,258
13.23
13.23
27.79
27.79
45
45
72 72
4,361,038
4,361,038
195,955
195,955
4,273,113
4,273,113
244,471
244,471
2.06
2.06
(19.85)
(19.85)
905,620
905,620
125,654
125,654
874,895
874,895
117
,316
117
,316
3.51
3.51
7.11
7.11
20.77
20.77
64.12
64.12
41 91
41
91
0.58
0.58
8.11
8.11
2.79
2.79
7.00
7.00
24 24
72
72
3.45
3.45
19.80
19.80
16.11
16.11
14.82
14.82
21 21
58
58
0.86
0.86
0.69
0.69
0.87
0.87
1.00
1.00
29
18 29
18
7,327
7,327
983
983
6,641
6,641
863
863
10.33
10.33
13.82
13.82
63
63 68
68
223223
379
379
252,542
252,542
385,580
385,580
6.51
6.51
35.75
35.75
29
29
81 81
957
,759
957
,759
304,713
304,713
989,381
989,381
160,616
160,616
(3.20)
(3.20)
89.72
89.72
566,039
566,039
115,231
115,231
517119,744
,768
517
,768
119,744
9.32
9.32
(3.77)
(3.77)
59.10
59.10
37.82
37.82
85 67
85
67
0.06
0.06
1.20
1.20
(3.49)
(3.49)
3.15
3.15
18
18 29
29
0.03
0.03
5.33
5.33
(1.79)
(1.79)
11.47
11.47
17
17 27
27
0.89
0.89
1.49
1.49
1.28
1.28
3.59
3.59
32
32 75
75
796
796
8,871
8,871
789
789
6,535
6,535
0.84
0.84
35.75
35.75
40
40 92
92
221221
371
371
632,145
632,145 (32.46)
(32.46)
1,542,872
1,542,872
12.55
12.55
4 43
4
43
462,284
462,284
1,146,544
1,146,544
448,978
448,978
1,093,880
1,093,880
2.96
2.96
4.81
4.81
337
,045
337
,045
995,204
995,204
344,501
344,501
918,548
918,548
(2.16)
(2.16)
8.35
8.35
72.91
72.91
86.80
86.80
95 99
95
99
(1.75)
(1.75)
4.41
4.41
15.90
15.90
7.08
7.08
12
12 58
58
(2.19)
(2.19)
8.01
8.01
34.10
34.10
12.65
12.65
15
15 36
36
2.93
2.93
17
.38
17
.38
3.77
3.77
4.06
4.06
86
86 99
99
3,028
3,028
3,498
3,498
4,390
4,390
3,535
3,535
(31.02)
(31.02)
(1.05)
(1.05)
9
9 36
36
221221
371
371
260,495
260,495
309,909
309,909
255,640
255,640
372,108
372,108
1.90
1.90
(16.72)
(16.72)
64,818
64,818
62,659
62,659
71,950
71,950
38,726
38,726
(9.91)
(9.91)
61.80
61.80
24.88
24.88
20.22
20.22
47 39
47
39
3.35
3.35
5.28
5.28
10.11
10.11
1.44
1.44
50 50
61
61
14.07
14.07
50.04
50.04
53.35
53.35
16.07
16.07
45 45
86
86
0.90
0.90
1.16
1.16
0.84
0.84
0.91
0.91
35
35 58
58
3,229
3,229
25,296
25,296
3,366
3,366
21,690
21,690
(4.07)
(4.07)
16.63
16.63
28
28 73
73
220220
369
369
358,328
358,328
4,397
,230
4,397
,230
361,199
361,199
3,510,401
3,510,401
(0.79)
(0.79)
25.26
25.26
11,566
11,566
1,118,539
1,118,539
11,058
11,058
690,400
690,400
4.59
4.59
62.01
62.01
3.23
3.23
25.44
25.44
8 48
8
48
0.17
0.17
6.58
6.58
0.19
0.19
3.99
3.99
21 21
67
67
4.49
4.49
47
.34
47
.34
4.47
4.47
103.93
103.93
24 24
84
84
1.08
1.08
1.34
1.34
1.03
1.03
1.68
1.68
50
50 71
71
1,871
1,871
1,324
1,324
1,713
1,713
1,209
1,209
9.22
9.22
9.49
9.49
59
59 61
61
217368
217
368
436,137
436,137
668,028
668,028
418,964
418,964
705,848
705,848
4.10
4.10
(5.36)
(5.36)
37
,670
37,670
316,001
316,001
66,396
66,396
310,911
310,911
(43.26)
(43.26)
1.64
1.64
8.64
8.64
47
.30
47
.30
15
76 15
76
2.95
2.95
18.48
18.48
4.43
4.43
11.60
11.60
47
85 47
85
60.10
60.10
30.07
30.07
118.34
118.34
19.02
19.02
92
73 92
73
1.06
1.06
0.87
0.87
1.16
1.16
0.59
0.59
47
31 47
31
16,193
16,193
12,004
12,004
22,238
22,238
11,083
11,083
(27
.18)
(27
.18)
8.31
8.31
10
10 56
56
217356
217
356
39,236
39,236
265,404
265,404
28,351
28,351
310,254
310,254
38.39
38.39
(14.46)
(14.46)
6,718
6,718
83,981
83,981
4,427
4,427
62,754
62,754
51.75
51.75
33.83
33.83
17.12
17.12
31.64
31.64
36 61
36
61
0.14
0.14
7.17
7.17
0.11
0.11
7.06
7.06
20 20
70
70
60.44
60.44
37.54
37.54
137
.38
47137
.20
47.38
.20
93 93
79
79
1.15
1.15
1.24
1.24
1.10
1.101.15
1.15
57
57 67
67
121,287
121,287
3,748
3,748
318,397
318,397
3,672
3,672
(61.91)
(61.91)
2.09
2.09
3
3 43
43
216350
216
350
3.54
,000
3.54 38,077
38,077
,00038,806,000
38,806,000
(1.72)
1,319,596
1,423,551
(1.72)
1,319,596
1,423,551
(1.88)
(1.88)
(7.30)
(7.30)
79.25
79.25
43.48
43.48
98 73
98
73
(10.27)
(10.27)
3.76
3.76
(0.85)
(0.85)
7.37
7.37
9
9 53
53
(8.62)
(8.62)
16.54
16.54
(0.73)
(0.73)
24.29
24.29
9
9 49
49
1.10
1.10
0.79
0.79
1.71
1.71
1.06
1.06
52
52 21
21
25,655
25,655
71,829
71,829
26,544
26,544
59,050
59,050
(3.35)
(3.35)
21.64
21.64
32
32 81
81
212348
212
348
0.71
0.71
45.88
45.88
41.35
41.35
11.05
11.05
70 24
70
24
1.66
1.66
13.17
13.17
(172.35
.84)
(172.35
.84)
36 36
81
81
1.00
1.00
13.93
13.93
1.48
1.48
(15.59)
(15.59)
18
18 43
43
0.89
0.89
0.63
0.63
1.01
1.01
1.21
1.21
34
13 34
13
2,060
2,060
2,947
2,947
2,145
2,145
2,062
2,062
(3.97)
(3.97)
42.92
42.92
29
29 94
94
205205
345
345
(91.85)
(91.85)
7
.04
7.04
0.69
0.69
16.55
16.55
7 33
7
33
(1.67)
(1.67)
0.35
0.35
(10.12)
(10.12)
1.02
1.02
13 (29.64)
(29.64)
13 23
23
3.85
3.85
(62.64)
(62.64)
8.30
8.30
5
5 22
22
0.83
0.83
4.93
4.93
0.93
0.93
3.33
3.33
23
23 95
95
4,629
4,629
6,204
6,204
3,740
3,740
4,961
4,961
23.78
23.78
25.05
25.05
83
83 85
85
194345
194
345
29.76
29.76
20.61
20.61
59 40
59
40
2.92
2.92
5.90
5.90
3.54
3.54
5.70
5.70
5.16
5.16
50.59
50.59
7.11
7.11
71.34
71.34
26 26
87
87
0.83
0.83
1.15
1.15
0.89
0.89
1.53
1.53
22
22 56
56
4,476
4,476
105
105
4,828
4,828
97 97
(77.28)
(77.28)
.57
.57
23
23 53
53
193342
193
342
6 (10.24)
(10.24)
6 82
82
26.56
26.56
(6.87)
(6.87)
27.72
27.72
12 71
12 48,044,000
48,044,000
46,400,000
3,034,772 46,400,000
3,087
,913
71
3,034,772
3,087
,913
1,474,230
1,474,230
3,192,371
3,192,371
1,491,749
1,491,749
2,370,365
2,370,365
17
,172,453
17
,172,453 16,156,608
16,156,608
1,275,548
873,970
1,275,548
873,970
13.37
13.37
38.26
38.26
5,197
,695
5,197
,695
5,160,927
887
,127 5,160,927
608,119
887
,127
608,119
46 46
65
65
(9.49)
(9.49)
8.77
8.77
10.45
10.45
60.09
60.09
22 86
22
86
(16.43)
(16.43)
14.47
14.47
(116.29)
(116.29)
16.82
16.82
(54.29)
(54.29)
32.24
32.24
8
8 66
66
- 0.67
0.67
- 0.90
0.90
0
0 17
17
2,108
2,108
8,265
8,265
1,946
1,946
7,651
7,651
8.32
8.32
8.03
8.03
57
57 55
55
191340
191
340
(577
,736)
(577
,736)
407
,679
407
,679
0.00
0.00
51.27
51.27
(10.38)
(10.38)
26.77
26.77
5 51
5
51
(574.32
.00)
(574.32
.00)
(273.49
.70)
(273.49
.70)
3
3 56
56
74.43
74.43
24.79
24.79
72.54
72.54
21.06
21.06
97 97
62
62
1.18
1.18
1.01
1.01
0.55
0.55
1.02
1.02
63
63 41
41
1,459
1,459
7,561
7,561
1,953
1,953
6,801
6,801
(25.29)
(25.29)
11.18
11.18
12
12 64
64
183335
183
335
96,723
- 96,723 1,592,828
2,012,190
1,592,828
2,012,190
- 26.33
26.33
21.71
21.71
54.89
54.89
43 43
82
82
10.14
10.14
12.32
12.32
- 12.49
12.49
78
79 78
79
- 29.53
29.53
- 32.87
32.87
0
0 72
72
1.16
1.16
0.71
0.71
- 0.76
0.76
59
19 59
19
- 4,482
4,482
- 4,442
4,442
- 0.90
0.90
0
0 41
41
180331
180
331
16.33
16.33
13.03
13.03
15.52
15.52
23.74
23.74
31 44
31
44
1.30
1.30
1.33
1.33
0.96
0.96
2.54
2.54
31 31
32
32
9.23
9.23
14.64
14.64
7.67
7.67
20.06
20.06
39 39
46
46
0.54
0.54
0.66
0.66
0.58
0.58
1.65
1.65
9
9 15
15
1,570
1,570
5,977
5,977
1,511
1,511
3,671
3,671
3.94
3.94
62.80
62.80
45
45 95
95
175325
175
325
5.05
5.05
14.23
14.23
26.32
26.32
7.05
7.05
50
12 50
12
3.31
3.31
1.80
1.80
5.57
5.57
2.41
2.41
49 49
37
37
4.92
4.92
26.12
26.12
8.53
8.53
28.47
28.47
25 25
65
65
0.45
0.45
1.03
1.03
0.43
0.43
1.10
1.10
6
6 43
43
1,009
1,009
2,867
2,867
1,153
1,153
2,361
2,361
(12.46)
(12.46)
21.46
21.46
18
18 80
80
173319
173
319
121,059
121,059
146,491
146,491
(12.84)
(12.84)
40.65
40.65
9.79
9.79
44.56
44.56
19 75
19
75
1.23
1.23
24.92
24.92
15.76
15.76
23.10
23.10
30 30
89
89
7.17
7.17
33.78
33.78
70.91
70.91
52.29
52.29
32
76 32
76
0.18
0.18
1.04
1.04
0.23
0.23
0.85
0.85
3
3 45
45
3,994
3,994
1,683
1,683
4,329
4,329
1,940
1,940
(7.76)
(7(13.24)
.76)
(13.24)
22
17 22
17
172
311172
311
1,525,267
1,525,267
1,620,297
2,815,250 1,620,297
2,508,693
2,815,250
2,508,693
(5.86)
(5.86)
12.22
12.22
9.90
9.90
35.71
35.71
21 65
21
65
(0.50)
(0.50)
8.98
8.98
(1.50)
(1.50)
8.74
8.74
16
16 75
75
(6.04)
(6.04)
15.20
15.20
(14.38)
(14.38)
15.13
15.13
11
11 47
47
0.79
0.79
0.86
0.86
0.75
0.75
0.88
0.88
20
20 28
28
33,350
33,350
10,691
10,691
30,520
30,520
9,915
9,915
9.27
9.27
7.82
7.82
60
60 54
54
170308
170
308
(6.49)
(6.49)
103.13
103.13
13.67
13.67
37.88
37.88
27 68
27
68
(3.66)
(3.66)
49.00
49.00
(19.00)
(19.00)
25.69
25.69
10
10100
100
(7.37)
(7.37)
67
.09
67
.09
(36.36)
(36.36)
64.32
64.32
10
10 94
94
0.91
0.91
0.45
0.45
0.89
0.89
0.32
0.32
36
7 36
7
1,298
1,298
4,469
4,469
1,130
1,130
5,219
5,219
14.87
14.87
(14.37)
(14.37)
70
16 70
16
169307
169
307
5,285,030
5,285,030
5,243,983
5,328,052 5,243,983
4,934,087
5,328,052
4,934,087
0.78
0.78
7.98
7.98
35.98
35.98
61.46
61.46
66 88
66
88
2.18
2.18
5.53
5.53
7.63
.63
.507.50
43 43
63
63
3.39
3.39
7.78
7.78
13.74
13.74
10.15
10.15
20 20
35
35
0.55
0.55
0.87
0.87
0.83
0.83
1.13
1.13
10
10 30
30
9,593
9,593
6,703
6,703
10,860
10,860
7,538
7,538
(11.67)
(11.67)
(11.08)
(11.08)
19
19 20
20
166300
166
300
996,831
996,831 1,054,818
1,054,818
6,209,921
5,197
,549
6,209,921
5,197
,549
(5.50)
(5.50)
19.48
19.48
4.61
4.61
7.56
7.56
9 13
9
13
(1.60)
(1.60)
27.36
27.36
0.73
0.73
29.59
29.59
14
14 92
92
(5.65)
(5.65)
24.91
24.91
2.55
2.55
28.05
28.05
12
12 63
63
1.14
1.14
0.84
0.84
1.37
1.37
1.21
1.21
55
55 24
24
1,474
1,474
2,578
2,578
1,522
1,522
2,422
2,422
(3.13)
(3.13)
6.44
6.44
34
34 51
51
143299
143
299
(749,650)
(749,650)
(569,709)
43,124 (569,709)
41,289
43,124
41,289
(31.58)
(31.58)
4.44
4.44
(62.73)
(62.73)
24.61
24.61
3 46
3
46
(15.77)
(15.77)
4.25
4.25
(10.55)
(10.55)
3.08
3.08
7
7 54
54
27.28
27.28
35.15
35.15
23.25
23.25
23.62
23.62
69
77 69
77
- 1.18
1.18
- 1.23
1.23
0
0 62
62
1,619
1,619
5,535
5,535
1,688
1,688
5,726
5,726
(4.12)
(4.12)
(3.33)
(3.33)
27
27
33 33
129298
129
298
1097
.10
1097
.10
5.64
5.64
61.15
61.15
21.21
21.21
87 42
87
42
(35.49)
(35.49)
0.70
0.70
10.30
10.30
0.77
0.77
5 (70.09)
(70.09)
5 25
25
22.01
22.01
- 18.76
18.76
- 16.67
16.67
0 35
0
35
- 41.08
41.08
- 39.93
39.93
0
0 97
97
(577
,736)
(577
,736)
616,677
616,677
458,706
458,706
42,760
42,760
215,430
215,430
595,408
595,408
4
4 60
60
0.61
0.61
1.12
1.12
0.20
0.20
1.20
1.20
11
11 53
53
339
339
4,762
4,762
728
728
4,219
4,219
(53.45)
(53.45)
12.88
12.88
5
5 65
65
114295
114
295
- 26.92
26.92
0
0 64
64
1.13
1.13
0.67
0.67
1.87
1.87
0.71
0.71
54
16 54
16
- 3,475
3,475
- 3,295
3,295
- 5.48
5.48
0
0 47
47
90291
90
291
4 (28.53)
(28.53)
4 39
39
18.13
18.13
1,294,584
1,294,584
2,609,342
2,609,342
(7.76)
(7.76)
15.98
15.98
11 51
11
51
(33.35)
(33.35)
19.94
19.94
9.85
9.85
26.02
26.02
20 49
20
49
(50.52)
(50.52)
1.82
1.82
(56.57)
(56.57)
2.21
2.21
(34.13)
(34.13)
27
.17
27.17
6
6 52
52
0.85
0.85
1.16
1.16
0.93
0.93
1.18
1.18
27
27 60
60
1,370
1,370
94,575
94,575
1,489
1,489
94,885
94,885
(7.97)
(7.97)
(0.33)
(0.33)
21
21 39
39
89290
89
290
791,529
791,529
695,508
695,508
13.81
13.81
47 47
760,411
760,411
519,389
519,389
46.40
46.40
265,547
265,547
256,924
256,924
3.36
3.36
34.92
34.92
63 63
1.87
1.87
1.91
1.91
41 41
5.68
5.68
5.43
5.43
29 29
1.30
1.30
1.69
1.69
70 70
28,783
28,783
28,980
28,980
(0.68)
(0.68)
38 38
288288
1,996,310
1,996,310
1,495,107
1,495,107
33.52
33.52
79 79
3,079,429
3,079,429
2,302,178
2,302,178
33.76
33.76
,069
297297
,069
252,321
252,321
17.73
17.73
9.65
9.65
18 18
5.01
5.01
2.10
2.10
60 60
36.43
36.43
24.84
24.84
78 78
0.97
0.97
0.92
0.92
38 38
817817
1,107
1,107
(26.25)
(26.25)
11 11
284284
8,607
,617
8,607
,617
9,205,023
9,205,023
(6.49)
(6.49)
13 13
4,148,665
4,148,665
4,112,463
4,112,463
0.88
0.88
372,623
372,623
372,957
372,957
(0.09)
(0.09)
21 21
1,045,855
1,045,855
,491
967967
,491
8.10
8.10
1,691,111
,158
1,691,111
2,537
,158
331,867 2,537
276,702
331,867
276,702
(914.88)
(914.88)
22.45
22.45
- 25.19
25.19
2,248,586 2,110,268
2,110,268
2,248,586
282,353
282,353
233,391
233,391
6.55
6.55
54.20
54.20
81 81
2.82
2.82
2.54
2.54
45 45
11.13
11.13
11.75
11.75
40 40
1.68
1.68
5.92
5.92
78 78
1,229,660
1,229,660
1,315,003
1,315,003
(6.49)
(6.49)
26 26
283283
20.98
20.98
27.00
27.00
53 53
13.14
13.14
9.05
9.05
80 80
18.99
18.99
15.59
15.59
55 55
0.96
0.96
1.011.01
37 37
1,117
1,117
1,156
1,156
(3.38)
(3.38)
31 31
277277
The following tables present the ranking of the Best Medium Companies in Mozambique in
2013 according to the methodology adopted.
As tabelas que se seguem apresentam o ranking das Melhores Mdias Empresas de

Moambique em 2013 de acordo com a metodologia adoptada.
Rank Empresa
Empresa
Rank
Company
Company
Sector
Actividade
Sector
dede
Actividade
Activity
Activity
Vol.
Neg.
Vol.
dede
Neg.
Revenues
Revenues
3 3
Meticais)
(10(10
Meticais)
2013
2013
Capitais
Prprios
Capitais
Prprios
Shareholdersfunds
Shareholdersfunds
3 3
Meticais)
(10(10
Meticais)
Pontuao
Pontuao
2013
2013
2012
2012
%13/12
%13/12
2013
2013
18,592
18,592
122.1
122.1
9 9
29,274
29,274
28,156
28,156
3.97
3.97
28,993
28,993
27,593
27,593
24,925
24,925
10.7
10.7
7 7
93,711
93,711
34,931
34,931
168.27
168.27
19,640
19,640
20,400
20,400
(3.7)
(3.7)
4 4
17,172
17,172
15,545
15,545
10.47
10.47
19,743
19,743
9,789
9,789
101.7
101.7
12 12
2,879
2,879
1,422
1,422
Servios
Servios
27,070
27,070
25,530
25,530
6.06.0
6 6
5,116
5,116
Servios
Servios
25,733
25,733
8,866
8,866
190.2
190.2
13 13
9,819
9,819
Industria
Construes
Sotomane,
Industria
de de
Construes
Sotomane,
LdaLda
Indstria
Indstria
14,132
14,132
10,940
10,940
29.2
29.2
10 10
8 8
Levas
Flor,
Levas
Flor,
LdaLda
Indstria
Indstria
27,592
27,592
23,710
23,710
16.4
16.4
9 9
Tracus
Arquitectos,
Tracus
Arquitectos,
LdaLda
Construo
Construo
18,418
18,418
32,053
32,053
(42.5)
(42.5)
10 10
- Arquitetos,
MCMC
- Arquitetos,
LdaLda
Servios
Servios
23,532
23,532
12,150
12,150
93.7
93.7
11 11
11,503
11,503
11 11
PINTEX
- Fbrica
Tintas,
SARL
PINTEX
- Fbrica
de de
Tintas,
SARL
Indstria
Indstria
21,473
21,473
21,279
21,279
0.90.9
5 5
10,489
10,489
12 12
Somonav,
Somonav,
LdaLda
Servios
Servios
23,043
23,043
30,190
30,190
(23.7)
(23.7)
3 3
39,094
39,094
13 13
Telescan
- Telecomunicaes
e Sistemas,
Telescan
- Telecomunicaes
e Sistemas,
LdaLda
Comunicaes
Comunicaes
23,458
23,458
51,850
51,850
(54.8)
(54.8)
1 1
52,307
52,307
2013
2013
1 1
Incala,
Incala,
LdaLda
Indstria
Indstria
2 2
Forum
Hotis
e Turismo,
(Hotel
Cruz)
Forum
Hotis
e Turismo,
LdaLda
(Hotel
StaSta
Cruz)
Alojamento,
Restaurao
e Similares
Alojamento,
Restaurao
e Similares
3 3
PROMOTUR
- Residencial
Hoyo-Hoyo,
PROMOTUR
- Residencial
Hoyo-Hoyo,
LdaLda
Alojamento,
Restaurao
e Similares
Alojamento,
Restaurao
e Similares
4 4
Euromoc.
Euromoc.
LdaLda
Servios
Servios
5 5
Tecnicol
Moambique,
Tecnicol
Moambique,
LdaLda
6 6
Howard
JohnsonAssociates
Mozambique
Howard
JohnsonAssociates
Mozambique
7 7
22,707
22,707
2012 %13/12
%13/12
2012
Activo
Lquido
Activo
Lquido
Net
Assets
Net
Assets
3 3
Meticais)
(10(10
Meticais)
2012 %13/12
%13/12
2012
Sector
Actividade
Sector
dede
Actividade
Activity
Activity
Liquidez
Geral
Liquidez
Geral
Current
Ratio
Current
Ratio
por
Trabalhador
VNVN
por
Trabalhador
Revenue
Employee
Revenue
perper
Employee
Melhores
Melhores
2012
dede
2012
2013
2013
Pontuao
Pontuao
2013
2013
2012
2012
Pontuao
Pontuao
2013
2013
2012
2012
Pontuao
Pontuao
2013
2013
2012
2012
Pontuao
Pontuao
2013
2013
2012
2012
%13/12
%13/12
Pontuao
Pontuao
Pomtuao
Final
Pomtuao
Final
99.04
99.04
13 13
5.11
5.11
5.15
5.15
10 10
4.08
4.08
3.50
3.50
6 6
58.13
58.13
45.34
45.34
12 12
327327
293293
11.59
11.59
10 10
60 60
28,673
28,673
3,338
3,338
758.99
758.99
30.60
30.60
7 7
16.29
16.29
22.76
22.76
13 13
28.08
28.08
1,129.88
1,129.88
12 12
3.50
3.50
0.82
0.82
7 7
497497
419419
18.68
18.68
11 11
57 57
15,867
15,867
15,429
15,429
2.84
2.84
92.40
92.40
12 12
12.09
12.09
28.65
28.65
12 12
15.17
15.17
46.69
46.69
7 7
12.77
12.77
125.77
125.77
10 10
786786
770770
2.05
2.05
8 8
53 53
102.46
102.46
(278)
(278)
(342)
(342)
18.71
18.71
(9.66)
(9.66)
2 2
(0.32)
(0.32)
6.76
6.76
5 5
20.32
20.32
(98.39)
(98.39)
10 10
3.69
3.69
1.93
1.93
8 8
1,462
1,462
1,030
1,030
41.93
41.93
12 12
49 49
2,380
2,380
114.96
114.96
4,059
4,059
2,957
2,957
37.27
37.27
79.34
79.34
11 11
2.77
2.77
3.29
3.29
7 7
21.35
21.35
56.75
56.75
11 11
9.34
9.34
(0.82)
(0.82)
9 9
732732
1,110
1,110
(34.09)
(34.09)
5 5
49 49
6,457
6,457
52.07
52.07
(687)
(687)
(1,376)
(1,376)
50.07
50.07
(7.00)
(7.00)
3 3
3.94
3.94
1.111.11
8 8
(98.21)
(98.21)
(14.24)
(14.24)
2 2
0.25
0.25
0.09
0.09
3 3
303303
209209
45.12
45.12
13 13
42 42
7,481
7,481
3,794
3,794
97.18
97.18
4,915
4,915
1,228
1,228
300.24
300.24
65.70
65.70
10 10
4.01
4.01
3.72
3.72
9 9
18.46
18.46
66.29
66.29
8 8
- -
- -
0 0
314314
547547
(42.59)
(42.59)
3 3
40 40
8 8
25,087
25,087
26,288
26,288
(4.57)
(4.57)
1,780
1,780
2,491
2,491
(28.56)
(28.56)
7.097.09
6 6
(2.58)
(2.58)
(22.08)
(22.08)
3 3
(33.32)
(33.32)
(420.33)
(420.33)
4 4
- -
- -
13 13
202202
332332
(39.04)
(39.04)
4 4
38 38
2 2
9,545
9,545
7,396
7,396
29.06
29.06
4,076
4,076
3,500
3,500
16.46
16.46
42.70
42.70
8 8
8.55
8.55
9.51
9.51
11 11
41.58
41.58
174.23
174.23
13 13
- -
77.87
77.87
0 0
1,674
1,674
6,411
6,411
(73.88)
(73.88)
1 1
35 35
6,260
6,260
83.75
83.75
(5,069)
(5,069)
(4,171)
(4,171)
(21.53)
(21.53)
(44.07)
(44.07)
1 1
(3.81)
(3.81)
(47.70)
(47.70)
2 2
19.42
19.42
277277
.87.87
9 9
0.30
0.30
0.13
0.13
4 4
1,810
1,810
2,025
2,025
(10.61)
(10.61)
7 7
34 34
15,941
15,941
(34.20)
(34.20)
(662)
(662)
(981)
(981)
32.52
32.52
(6.31)
(6.31)
4 4
1.49
1.49
(2.33)
(2.33)
6 6
(38.83)
(38.83)
(21.42)
(21.42)
3 3
0.78
0.78
0.87
0.87
5 5
467467
426426
9.69
9.69
9 9
32 32
49,546
49,546
(21.10)
(21.10)
(1,410)
(1,410)
8,162
8,162
(117
(117
.28).28)
(3.61)
(3.61)
5 5
(41.54)
(41.54)
4.50
4.50
(283.53)
1 1 (283.53)
17.76
17.76
1 1
14.18
14.18
2.15
2.15
11 11
295295
387387
(23.67)
(23.67)
6 6
27 27
69,861
69,861
(25.13)
(25.13)
23,080
23,080
23,838
23,838
(3.18)
(3.18)
44.12
44.12
9 9
(1.91)
(1.91)
3.11
3.11
4 4
7.147.14
5 5
1.29
1.29
1.20
1.20
6 6
1,340
1,340
2,659
2,659
(49.59)
(49.59)
2 2
27 27
por
Trabalhador
VNVN
por
Trabalhador
Revenue
Employee
Revenue
perper
Employee
Melhores
Melhores
2012
dede
2012
(1.91)
(1.91)
The following tables present the ranking of the Best Small Companies in Mozambique in
2013 according to the methodology adopted.
Activo
Lquido
Activo
Lquido
Net
Assets
Net
Assets
3 3
Meticais)
(10(10
Meticais)
Capitais
Prprios
Capitais
Prprios
Shareholdersfunds
Shareholdersfunds
3 3
Meticais)
(10(10
Meticais)
Rent
Rent
VNVN
Profits/Revenue
Profits/Revenue
(%)(%)
Rent.
Rent.
C. C.
P. P.
S/hs
Funds
S/hs
Funds
(%)(%)
Liquidez
Geral
Liquidez
Geral
Current
Ratio
Current
Ratio
Pontuao
Pontuao
2013
2013
2012
2012
%13/12
%13/12
2013
2013
2013
2013
Pontuao
Pontuao
2013
2013
2012
2012
Pontuao
Pontuao
2013
2013
2012
2012
Pontuao
Pontuao
2013
2013
2012
2012
Pontuao
Pontuao
2013
2013
2012
2012
%13/12
%13/12
Pontuao
Pontuao
Pomtuao
Final
Pomtuao
Final
Carpintaria
Mutende
Carpintaria
Mutende
Indstria
Indstria
6,361
6,361
4,534
4,534
40.3
40.3
16 16
3,693
3,693
3,444
3,444
7.22
7.22
2,992
2,992
2,296
2,296
130.29
130.29
81.01
81.01
18.00
18.00
10.93
10.93
5.36
5.36
19 19
26.30
26.30
21.16
21.16
19 19
3.33
3.33
41.73
41.73
17 17
177177
283283
(37.65)
(37.65)
9 9
98 98
2 2
Auto
Rectificadora
Auto
Rectificadora
Indstria
Indstria
12,600
12,600
13,091
13,091
(3.8)
(3.8)
8 8
18,709
18,709
18,008
18,008
3.89
3.89
17,029
17,029
16,365
16,365
4.06
4.06
91.02
91.02
20.00
20.00
9.41
9.41
14.50
14.50
18 18
7.107.10
12.05
12.05
16 16
10.36
10.36
10.09
10.09
22 22
332332
345345
(3.75)
(3.75)
13 13
97 97
3 3
Linkup
Recruitment
Services
Linkup
Recruitment
Services
Servios
Servios
7,449
7,449
6,666
6,666
11.711.7
12 12
2,855
2,855
2,081
2,081
37.19
37.19
2,634.00
2,634.00
1,815
1,815
45.12
45.12
92.26
92.26
21.00
21.00
10.99
10.99
12.65
12.65
20 20
36.82
36.82
70.54
70.54
21 21
0.01
0.01
0.01
0.01
5 5
1,490
1,490
1,333
1,333
11.75
11.75
17 17
96 96
4 4
Mediptica,
Mediptica,
LdaLda
Comrcio
Comrcio
5,906
5,906
6,064
6,064
(2.6)
(2.6)
9 9
5,373
5,373
4,437
4,437
21.10
21.10
4,173
4,173
3,927
3,927
6.26
6.26
77.67
77.67
17.00
17.00
4.18
4.18
3.17
3.17
15 15
6.10
6.10
5.01
5.01
15 15
4.48
4.48
8.70
8.70
20 20
562562
551551
2.03
2.03
15 15
91 91
5 5
Lavandaria
Imperial
Lavandaria
Imperial
Servios
Servios
4,348
4,348
3,440
3,440
26.4
26.4
15 15
4,828
4,828
2,202
2,202
119.26
119.26
1,721
1,721
1,706
1,706
0.89
0.89
35.65
35.65
14.00
14.00
0.74
0.74
4.88
4.88
10 10
1.87
1.87
10.41
10.41
13 13
3.84
3.84
2.05
2.05
19 19
89 89
60 60
48.32
48.32
19 19
90 90
6 6
Chef
Privado
Chef
Privado
Alojamento,
Restaurao
e Similares
Alojamento,
Restaurao
e Similares
80 80
7 7
Consulting,
MCMC
Consulting,
LdaLda
Servios
Servios
8 8
SIGA
- Sistemas
Informao
e Gesto
Atendimento,
SIGA
- Sistemas
de de
Informao
e Gesto
de de
Atendimento,
S.AS.A
Servios
Servios
6,168
6,168
9 9
Autrase,
Autrase,
LdaLda
Indstria
Indstria
8,670
8,670
4,953
4,953
75.0
75.0
10 10
Tecninfo,
Tecninfo,
LdaLda
Servios
Servios
4,375
4,375
5,858
5,858
(25.3)
(25.3)
100100
4,564
4,564
2012 %13/12
%13/12
2012
Autonomia
Autonomia
Financeira
Financeira
1 1
2013
2013
2012 %13/12
%13/12
2012
Rent.
Rent.
C. C.
P. P.
S/hs
Funds
S/hs
Funds
(%)(%)
4.17
4.17
Vol.
Neg.
Vol.
dede
Neg.
Revenues
Revenues
3 3
Meticais)
(10(10
Meticais)
2013
2013
Rent
Rent
VNVN
Profits/Revenue
Profits/Revenue
(%)(%)
27,833
27,833
As tabelas que se seguem apresentam o ranking das Melhores Pequenas Empresas de

Moambique em 2013 de acordo com a metodologia adoptada.
Rank Empresa
Empresa
Rank
Company
Company
Autonomia
Autonomia
Financeira
Financeira
25.0
25.0
14 14
90 90
50 50
80.00
80.00
60 60
20 20
200.00
200.00
66.67
66.67
16.00
16.00
40.00
40.00
37.50
37.50
21 21
100.00
100.00
300.00
300.00
22 22
0.60
0.60
0.38
0.38
10 10
67 67
160160
(58.33)
(58.33)
5 5
88 88
1,658.0
260260 1,658.0
22 22
1,841
1,841
460460
300.45
300.45
(107)
(107)
(326)
(326)
67.29
67.29
(5.80)
(5.80)
8.00
8.00
4.81
4.81
(129.54)
(129.54)
17 17
(101.41)
(101.41)
206.13
206.13
7 7
0.75
0.75
0.58
0.58
11 11
1,141
1,141
173173
559.27
559.27
21 21
86 86
1,562.5
371371 1,562.5
21 21
1,059
1,059
655655
61.68
61.68
(1,519)
(1,519)
(1,514)
(1,514)
(0.33)
(0.33)
(143.44)
(143.44)
7.00
7.00
(0.06)
(0.06)
(328.84)
(328.84)
7 7
0.26
0.26
161.16
161.16
9 9
3.64
3.64
0.21
0.21
18 18
685685
74 74
823.63
823.63
22 22
84 84
18 18
7,850
7,850
5,993
5,993
30.99
30.99
3,622
3,622
3,485
3,485
3.93
3.93
46.14
46.14
15.00
15.00
1.61
1.61
2.93
2.93
12 12
3.94
3.94
8.32
8.32
14 14
1.00
1.00
1.36
1.36
13 13
275275
354354
(22.20)
(22.20)
11 11
83 83
3 3
3,032
3,032
2,843
2,843
6.65
6.65
2,621
2,621
2,352.00
2,352.00
11.44
11.44
86.44
86.44
19.00
19.00
4.18
4.18
13.35
13.35
16 16
7.367.36
44.01
44.01
17 17
6.66
6.66
5.88
5.88
21 21
398398
- -
- -
0 0
76 76
1,309 3,768.68
3,768.68
1,309
11 11
F.M.
Simes,
F.M.
Simes,
SASA
Servios
Servios
5,428
5,428
6,276
6,276
(13.5)
(13.5)
5 5
1,992
1,992
1,902
1,902
4.73
4.73
50,641
50,641
2,542.22
2,542.22
22.00
22.00
2.98
2.98
5.54
5.54
14 14
0.62
0.62
53.17
53.17
11 11
2.80
2.80
1.57
1.57
16 16
247247
571571
(56.76)
(56.76)
6 6
74 74
12 12
Limpers,
Limpers,
LdaLda
Servios
Servios
2,434
2,434
775775
214.1
214.1
20 20
2,916
2,916
2,613
2,613
11.60
11.60
109109
347347
(68.59)
(68.59)
3.74
3.74
11.00
11.00
(9.78)
(9.78)
10.58
10.58
5 5
(104.39)
(104.39)
47.26
47.26
6 6
0.55
0.55
1.15
1.15
9 9
487487
310310
57.03
57.03
20 20
71 71
13 13
Bazaruto,
Bazaruto,
LdaLda
Alojamento,
Restaurao
e Similares
Alojamento,
Restaurao
e Similares
1,986
1,986
11,834
11,834
(83.2)
(83.2)
1 1
700,089
700,089
656,062
656,062
6.71
6.71
220,885
220,885
255,504
255,504
(13.55)
(13.55)
31.55
31.55
13.00 1,915.21
1,915.21
13.00
118.73
118.73
22 22
15.97
15.97
11.00
11.00
18 18
2.10
2.10
7.237.23
15 15
- -
- -
- -
0 0
69 69
14 14
Terra
Nova,
Terra
Nova,
LdaLda
Agricultura
e Pescas
Agricultura
e Pescas
15 15
Ferro
& Ferro,
Ferro
& Ferro,
LdaLda
Servios
Servios
16 16
OLOGA
- Sistemas
Informticos,
OLOGA
- Sistemas
Informticos,
LdaLda
Servios
Servios
8,005
8,005
7,391
7,391
17 17
Perfect
Clean,
Perfect
Clean,
E.I.E.I.
Servios
Servios
12,141
12,141
5,423
5,423
18 18
Siesta
- Fbrica
mveis,
colchoaria,
Siesta
- Fbrica
de de
mveis,
colchoaria,
LdaLda
Indstria
Indstria
12,560
12,560
13,421
13,421
(6.4)
(6.4)
201201
119119
68.9
68.9
17 17
430430
1,121
1,121
(61.64)
(61.64)
(3,658)
(3,658)
(2,613)
(2,613)
(39.99)
(39.99)
(850.70)
(850.70)
5.00
5.00
(519.90)
(519.90)
(898.32)
(898.32)
4 4
33.33
33.33
81.82
81.82
20 20
0.07
0.07
0.18
0.18
7 7
18 18
18 18
(0.19)
(0.19)
14 14
67 67
11,835
11,835
16,717
16,717
(29.2)
(29.2)
2 2
9,076
9,076
12,167
12,167
(25.40)
(25.40)
2,487
2,487
2,504
2,504
(0.68)
(0.68)
27.40
27.40
12.00
12.00
0.12
0.12
0.01
0.01
8 8
0.56
0.56
0.04
0.04
10 10
1.42
1.42
1.171.17
14 14
816816
1,079
1,079
(24.32)
(24.32)
10 10
56 56
8.38.3
11 11
1,710
1,710
1,315
1,315
30.04
30.04
(99)(99)
(131)
(131)
24.43
24.43
(5.79)
(5.79)
9.00
9.00
0.39
0.39
0.28
0.28
9 9
(26.96)
(26.96)
(32.06)
(32.06)
8 8
0.88
0.88
0.82
0.82
12 12
1,067
1,067
2,464
2,464
(56.68)
(56.68)
7 7
56 56
123.9
123.9
19 19
- -
- -
- -
- -
- -
- -
- -
0.00
0.00
2.45
2.45
5.31
5.31
13 13
- -
- -
- -
- -
0 0
517517
350350
47.67
47.67
18 18
50 50
6 6
2,660
2,660
2,528
2,528
5.21
5.21
(7,611)
(7,611)
(7,749)
(7,749)
1.78
1.78
(286.17)
(286.17)
6.00
6.00
(1.10)
(1.10)
(0.02)
(0.02)
6 6
1.79
1.79
0.04
0.04
12 12
0.12
0.12
0.11
0.11
8 8
523523
584584
(10.31)
(10.31)
12 12
50 50
10.00 (2,300.33)
(2,300.33)
10.00
(4.43)
(4.43)
(53,301.59)
3 3 (53,301.59)
(56.28)
(56.28)
5 5
19 19
Neoqumica
Moambique,
Neoqumica
Moambique,
LdaLda
Servios
Servios
5,816
5,816
6,123
6,123
(5.0)
(5.0)
7 7
8,741
8,741
9,088
9,088
(3.82)
(3.82)
184184
318318
(42.14)
(42.14)
2.11
2.11
20 20
SOTEL
- Sociedade
Tcnica
Electricidade,
SOTEL
- Sociedade
Tcnica
de de
Electricidade,
LdaLda
Servios
Servios
5,266
5,266
4,407
4,407
19.5
19.5
13 13
- -
- -
- -
- -
- -
- -
- -
0.00
0.00
1.101.10
0.70
0.70
21 21
Gilctricas
Construes,
Gilctricas
Construes,
LdaLda
Construo
Construo
1,202
1,202
1,202
1,202
0.00.0
10 10
n.dn.d
n.dn.d
- -
n.dn.d
n.dn.d
- -
- -
0.00
0.00
- -
22 22
Biriu
Cpias
Biriu
Cpias
Comrcio
Comrcio
295295
369369
(20.1)
(20.1)
4 4
n.dn.d
n.dn.d
- -
n.dn.d
n.dn.d
- -
- -
0.00
0.00
- -
- -
0.01
0.01
0.01
0.01
6 6
237237
223223
6.62
6.62
16 16
47 47
11 11
- -
- -
- -
- -
- -
0 0
- -
147147
- -
0 0
24 24
- -
- -
- -
- -
- -
- -
- -
0 0
48 48
96 96
(50.00)
(50.00)
8 8
18 18
- -
- -
- -
- -
- -
- -
- -
0 0
42 42
105105
(60.06)
(60.06)
4 4
8 8
Anlise
Macroeconmica
Macroeconomic
Analysis
Perspectiva Global
Global Perspective
Por: Nelson Melo e Angelina Vaz
By: Nelson Melo and Angelina Vaz
O poderio das principais economias mundiais no

registou grande variao face ao que foi atingido em 2012.
O crescimento do PIB apresentou-se estvel, estando
o destaque repartido entre as economias de Africa
Subsaariana, China e Amrica Latina em termos de variao
do PIB entre 2012 e 2013.
The power of the principal world economies has not

changed greatly from 2012. GDP growth was stable, in
terms of the changes in GDP between 2012 and 2013 the
economies of Sub-Saharan Africa, China and Latin America
stand out.
A estabilidade da moeda nas principais economias, a base

de uma poltica monetria orientada para taxas de juro
directoras muito baixas, taxas de inflao estveis e o grande
enfoque na estabilizao das finanas pblicas com medidas
para a reduo da dvida, contribuiu em grande medida para
a estabilidade verificada nestas economias.
The stability of the currency in major economies and

the monetary policy geared a very low key interest
rates, stable inflation rates and an emphasis on the
stabilisation of public finances as a means to debt
reduction contributed significantly to the stability seen
in these economies.
O reflexo de estabilidade verificado nas grandes economias

acabou por contribuir para a desacelerao do crescimento
das economias emergentes e em vias de desenvolvimento.
No obstante ao mencionado, estas economias emergentes
e em desenvolvimento conseguiram atingir bons nveis
de crescimento, pese embora os mesmos terem sido
relativamente inferiores aos verificados no ano de 2012.
The stability registered in major economies contributed to

a slowing down in the growth of emerging and developing
economies. Despite this, the emerging and developing
economies have achieved good levels of growth although
relatively lower than those recorded in 2012.
PIB mundial / World GDP 2013
22%
39%
17%
12%
8%
USD million 74,909,811

EUA / USA
Europa / Euro area
frica Subsariana / Sub-Saharan Africa
Amrica Latina e Caribe / Latin America & Caribean
China
Outras economias / Otehr economies
2%
Fonte: Dados extrados da base de dados do World Bank Organization. World Databank. World Development Indicator / Source: Data extrated from
the World Bank database.
No contexto mundial, a economia da frica Subsaariana

acabou por se revelar uma das mais dinmicas, tendo
vindo a apresentar taxas de crescimento robustas e, mais
uma vez, em linha com o desempenho de anos anteriores
recentes. Estima-se que a dinmica verificada se mantenha,
fomentada pela riqueza dos seus recursos naturais e
minerais, assim como pelo elevado Investimento Directo
Estrangeiro esperado ao nvel de infra-estruturas para esta
regio. A contribuio desta regio em 2013 para o PIB
mundial situou-se na casa dos 2%, uma representatividade
muito aqum do potencial econmico e das riquezas
naturais desta regio, sendo de se prever um maior nvel
de relevncia nos anos vindouros perante as restantes
economias mundiais.
frica
Contexto Macroeconmico
O continente Africano em geral sofreu uma desacelerao no
crescimento do PIB tendo a mdia apresentado uma reduo
de 1.7pp, de 5.7% em 2012 para 4.0% em 2013. (Economic
Report on Africa 2014). Este abrandamento justificou-se
pelo facto de algumas economias terem registado uma
ligeira queda no desempenho empresarial causada pela
instabilidade poltica como o caso do Egipto,Tunsia, Lbia e
Repblica Centro Africana.
Cerca de um tero dos pases Africanos cresceu em mdia 6%
ou mais em 2013, impulsionando o rendimento per capita.
Contudo, em muitos desses pases, a pobreza mantm-se
expandida e o desemprego continua em elevados nveis.
(Global Economic and Prospects, Jan 2014).
Para o ano de 2014 e 2015, espera-se que o crescimento seja
de 4.7% e 5.0% respectivamente. (Economic Report on Africa).
De referir a robustez da economia Moambicana, registando
o maior crescimento do PIB na frica Sub-saariana na ordem
dos 7.1%. A Serra Leoa obteve o maior crescimento em frica
atingindo a impressionante marca de 20.1%. (The World Bank
Organization. World Development Indicator).
In the world context, Sub-Saharan Africas economy

turned out to be one of the most dynamic with robust
growth rates in line with performance in recent years. It
is believed that the dynamic has been maintained due
to the richness of natural resources and minerals as well
as high levels of foreign direct investment to develop
infrastructures in the region. In 2013 the contribution
of this region to the global GDP stood at 2%, below
the economic and of the natural wealth potential of the
region. In the coming years a higher level of impact
compared to other world economies can be expected.
Africa
Macroeconomic Context
Overall the African continent suffered a slowdown in
GDP growth with a reduction of 1.7 pp from 5.7% in 2012
to 4.0% in 2013 (Economic Report on Africa 2014). This
slowdown was caused by the fact that some economies
including Egypt, Tunisia, Libya and the Central African
Republic registered a slight drop in business performance
caused by political instability.
About one third of African countries grew by 6% or more in
2013 boosting per capita income. However, in many of these
countries poverty remains widespread and unemployment
continues at high levels (Global Economic Prospects,
Jan 2014). For 2014 and 2015 growth of 4.7% and 5.0%
respectively is forecast (Economic Report on Africa).
The robustness of the Mozambican economy, recording
the highest GDP growth in sub-Saharan Africa at 7.1% is
noteworthy. Sierra Leone achieved the highest growth in
Africa recording an impressive rate of 20.1% (World Bank,
World Development Indicator).
18
PIB / GDP (%)
14
7.1%
5.0%
10
6
2
-2
frica do Sul
Angola
Benin
Botswana
Burkina Faso
Burundi
Cabo Verde
Camares
Chade
Comores
Congo
RD do Congo
Costa de Marfim
Djibouti
Guin Equatorial
Eritria
Etipia
Gabo
Gmbia
Ghana
Guine
Guin Bissau
Quenia
Lesotho
Libria
Madagascar
Malawi
Mali
Mauritania
Mauricias
Moambique
Namibia
Niger
Nigeria
Ruanda
ST e Principe
Senegal
Seychelles
Serra Leoa
Suazilndia
Togo
Uganda
Tanznia
Zmbia
Zimbabwe
-6
2012
2013
Media / average 2013
Fonte / Source: KPMG. Dados extrados da base de dados do World Bank Organization. World Databank. World Development Indicator / Data
extracted from the World Bank database
Desempenho por sub-regies (crescimento

do PIB)
O crescimento do PIB entre sub-regies da frica variou
positivamente de forma ligeira em 2013. A frica Austral
evoluiu de 3.5% para 3.6% em 2013, principalmente devido
ao aumento do investimento na sub-regio no sector de
minerao (Economic Report on Africa 2014). Na frica
Subsaariana, o crescimento tem permanecido estvel (5.1% em
2013 contra os 4.8% de 2012), sendo sustentado pela produo
de petrleo, minerao, agricultura, servios financeiros e
a crescente economia domstica como principais motores
impulsionadores. (Balano Econmico e Social de 2013).
Para esta sub-regio, perspectiva-se um crescimento de 5.2%
em 2014 e de 5.4 % em 2015. (Global Economic and Prospects,
June 2013). O crescimento na frica Central abrandou de 5.8%
em 2012 para os 4.2% em 2013, em grande parte devido
instabilidade poltica verificada na Repblica Centro Africana,
onde a economia contraiu em 8.9% em 2013. O crescimento da
frica Oriental tambm permaneceu inalterado em 6.0% em
2013. Na frica Ocidental a taxa de crescimento manteve-se
inalterada em 6.7% em 2013. A frica Ocidental continuou a
liderar as sub-regies, graas aos investimentos no sector de
petrleo e minerais, entre outros factores dinamizadores das
economias locais. (Economic Report on Africa 2014).
A instabilidade poltica e as interrupes do fornecimento de
petrleo acabaram por ser determinantes no crescimento
no norte da frica especialmente, Egipto, Lbia eTunsia
evoluindo negativamente para os 2.3% em 2013 se comparado
com os 7.2% atingidos em 2012. (Economic Report on Africa 2014).
Exportaes e Importaes e IDE

As exportaes das economias Africanas evoluram
favoravelmente em 2.3% face a 2012. A evoluo tmida
verificada acabou por reflectir a contrao das economias dos
pases da Europa. (Economic Report on Africa 2014).
Performance by sub-regions (GDP growth)

GDP growth for sub-regions within Africa showed slight
positive variations in 2013. In Southern Africa GDP
increased from 3.5% to 3.6% in 2013 mainly due to
increased investment in the sub-region in the mining
sector (Economic Report on Africa 2014). In sub-Saharan
Africa, growth has remained stable (5.1% in 2013
compared to 4.8% of 2012) with the main driving forces
sustaining the growth being production of oil, mining,
agriculture, financial services and the growing domestic
economy (Economic and Social Review 2013).
For this sub-region the forecast is for growth of 5.2% in
2014 and 5.4% in 2015 (Global Economic Prospects, June
2013). Growth in Central Africa has slowed from 5.8%
in 2012 to 4.2% in 2013 largely due to political instability
in the Central African Republic where the economy
contracted by 8.9% in 2013. Growth in East Africa
remained unchanged at 6.0% in 2013. In West Africa the
growth rate also remained unchanged at 6.7% in 2013.
West Africa continued to lead the sub-regions, thanks
to investments in the oil and minerals sector amongst
other factors driving the local economies (Economic
Report on Africa 2014).
Political instability and oil supply disruptions were the main
influences on performance in North Africa especially
Egypt, Libya and Tunisia with growth reducing to
2.3% in 2013 compared with the 7.2% achieved in 2012
(Economic Report on Africa 2014).
Exports, imports and FDI

Exports by African economies grew by 2.3% compared to
2012. This slight growth is reflection of European economies
contraction (Economic Report on Africa 2014).
Imports accounted for 29.5% of GDP. For 2014 a

reduction in exports and imports of 27.5% and 29.5%
of GDP respectively is forecasted (Economic Report on
Africa 2014).
Em 2013, o Investimento Directo Estrangeiro, em frica

atingiu os USD 57 mil milhes, um crescimento em 4%,
sustentado pelos fluxos de capital entre economias Africanas,
em consonncia com os esforos de aprofundamento
da integrao regional. (World Investment Report 2014).
De referir que 75% deste volume de investimentos foram
destinados frica Subsaariana, tendo sido direcionado, em
grande parte, aos sectores de recursos naturais Oil & Gas,
mineiro, sector de servios telecomunicaes, financeiro,
retalho e logstica. (Global Economic Prospects, Jan 2014).
In 2013 foreign direct investment in Africa reached 57

billion USD, a growth of 4%, underpinned by capital flows
between African economies in line with the efforts for
deeper regional integration (World Investment Report
2014). It should be noted that 75% of these investments
were earmarked for Sub-Saharan Africa, directed
principally to the natural resource sectors, Oil and Gas,
mining and the service sector - telecommunications,
finance, retail and logistics (Global Economic Prospects,
Jan 2014).
Europa
Europe
O crescimento mdio do PIB verificado nos pases Europeus

rondou os 0.7% em 2013. Este crescimento reflete uma
modesta recuperao em curso na Europa. As perspectivas
do PIB do continente, indicam um crescimento de 1.4% em
2014 e de 2.3% em 2015. (The Economist Intelligence Unit).
In 2013 the average growth in GDP in European countries

was 0.7%. This growth reflects the modest recovery
under way in Europe. Forecasts for the continents GDP
are for growth of 1.4% in 2014 and 2.3% in 2015 (The
Economist Intelligence Unit).
Crescimento do PIB na Europa / GDP Growth in Europe 2012-2013
8.0
6.0
4.0
0.7%
2.0
0.0
-2.0
-4.0
-6.0
-8.0
Austria
Azerbaijo
Blgica
Bulgria
Crocia
Chipre
Repblica Checa
Dinamarca
Estonia
Finlndia
Frana
Alemanha
Grcia
Hungria
Irlanda
Itlia
Kazaquisto
Repblica da Latvia
Lituania
Holanda
Noruega
Polnia
Portugal
Romnia
Rssia
Srvia
Eslovquia
Eslovnia
Espanha
Sucia
Suia
Turquia
Ucrnia
Reino Unido
22
Por seu turno, as importaes representaram 29.5% do PIB.

Para 2014, projecta-se uma reduo das exportaes e das
importaes, em 27.5% e 29.5% do PIB respetivamente.
(Economic Report on Africa 2014).
PIB / GDP (%)
Crescimento do PIB em frica / GDP in Africa 2012 - 2013 (excluindo frica do Norte / excluding North of Africa)
2012
2013
Fonte / Source: KPMG. Dados extrados da base de dados do The Economist Intelligence Unit / Data extracted from the Economist Intelligence
Unit database
Entre as maiores economias da Europa, a Alemanha,

Frana e Reino Unido cresceram 0.5%, 0.4% e 1.7% em
2013, respectivamente. As sub-regies da Europa Central e
Oriental, registaram um crescimento que se situou em 2.2%,
em 2013, contra os 0.3% verificados em 2012. Na maioria dos
pases das sub-regies, verificou-se um abrandamento do
crescimento. Por contra-partida, o crescimento nos pases
da Europa do Leste apresentaram uma evoluo positiva de
4.0% em 2013 (Global Economic Prospects EU, June 2014).
The largest European economies, Germany, France

and the United Kingdom grew by 0.5%, 0.4% and 1.7%
respectively in 2013. The economy of the Central and
Eastern Europe sub-regions registered growth of 2.2% in
2013 compared to 0.3% in 2012. In most of the countries
in the sub-regions there was a slow-down in growth.
In contrast, the Eastern European countries showed
positive development of 4.0% in 2013 (Global Economic
Prospects EU, June 2014).
9.00
8.00
7.00
6.00
5.00
4.00
3.00
3.00
1.00
0.0
Uruguay
Venezuela
Suriname
Trindade e Tobago
St. Lucia
St. Kitts and Nevis
Repblica Dominicana
Peru
Porto Rico
Panama
Paraguay
Mxico
Nicaragua
Jamaica
Haiti
Honduras
Guyana
Grenada
Guatemala
Equador
El Salvador
Dominica
Costa Rica
Chile
Colmbia
2013
St. Vincent and the Grenadines
2012
Brazil
Belize
Bolvia
Bahamas
Barbados
Argentina
2012
Unit database
Vrias economias latino-americanas, nomeadamente o Chile,

Colmbia e Peru, experimentaram um rpido crescimento
econmico graas recuperao de vrios mercados de
exportao e forte demanda pelos seus recursos minerais,
mesmo vivendo um contexto global de incerteza (The Global
Competitiveness Report 2013 2014. World Economic Forum).
Para as economias Brasileiras e Mexicanas, esperam-se
crescimentos de 2.4% e 3.4%, respectivamente, em 2014.
(Global Economic and Prospects LAC 2014).
Several Latin American economies, namely Chile,

Colombia and Peru, experienced rapid economic growth
thanks to the recovery of various export markets and
to strong demand for mineral resources even within
the uncertain global context (Global Competitiveness
Report 2013 2014. World Economic Forum). For the
Brazilian and Mexican economies growth of 2.4% and
3.4% respectively is expected in 2014. (Global Economic
Prospects and LAC 2014).
sia
Asia
Em 2013, registou-se uma expanso moderada na ordem dos

5.6% da sia Oriental e da sia do Sul, devido principalmente
In 2013, there was a moderate expansion of 5.6% in

East Asia and South Asia due mainly to the deceleration
2013
Vietnam
Thailand
Taiwan
Sri Lank
South Korea
Singapore
Philippines
Pakisten
New Zealand
4.5%
Malaysia
3.2%
Antigua e Barbuda
PIB / GDP (%)
Crescimento do PIB na Amrica Latina e Caribe / GDP Growth in Latin American and Caribe 2012-2013
16
14
12
10
8
6
4
2
0
-2
-4
Crescimento do PIB da Asia / GDP Growth in Asia 2012-2013
Bangladesh
O crescimento do PIB na Amrica Latina e da regio

do Caribe foi de 2.5% em 2013. Uma reduo de 0.1%
comparativamente com o ano de 2012. Esta evoluo reflete
a fraca procura externa, preos baixos das mercadorias
e enfraquecimento das condies internas. Apesar da
desacelerao, prev-se uma taxa de crescimento de 3.0%
em 2014. Para 2015, as previses indicam um crescimento
de 3.2% suportado pela forte recuperao da economia
Mexicana (The Global Competitiveness Report 2013 2014.
World Economic Forum).
Japan
GDP growth in Latin America and the Caribbean region

was 2.5% in 2013, a reduction of 0.1% compared to the
year 2012. This change reflects weak external demand,
low prices of goods and weakening of internal conditions.
Despite the slowdown a growth rate of 3.0 percent is
expected in 2014. For 2015 forecasts indicate growth of
3.2% supported by the strong recovery of the Mexican
economy (Global Competitiveness Report 2013 2014.
World Economic Forum).
Indonesia
GDP growth in Pakistan (the second largest economy

in South Asia) has also been relatively weak in recent
years (on average 3.5%) and almost 5% below the
average growth during the previous decade. The relatively
weak growth rates reflect a combination of domestic
imbalances (including large fiscal deficits and high
inflation), weakening investment rates and a challenging
external environment (Global Economic Prospects Jan
2014).
ndia
O crescimento do PIB do Paquisto (a segunda maior

economia do Sul da sia), tambm tem sido relativamente
fraco nos ltimos anos (em mdia 3.5%), situando-se quase
5% abaixo da mdia de crescimento da dcada anterior. As
taxas de crescimento relativamente fraco, reflectem uma
combinao de desequilbrios domsticos (incluindo grandes
dfices fiscais e inflao elevada), enfraquecendo as taxas
de investimento e um ambiente externo desafiador (Global
Economic and Prospects, Jan 2014).
PIB / GDP (%)
Amrica Latina e Caribe
in export growth caused by the marginal downturn in

China (around 7.7%) and also reflecting particularly a
continuing slowdown in India (4.8%) after several years of
rising inflation and high public deficits (Global Economic
Prospects Jan 2014).
Hong Kong
Latin America and Caribbean
desacelerao do crescimento das exportaes, induzido

pelo abrandamento marginal da China (na ordem dos 7.7%) e
refletindo sobretudo uma desacelerao continuada da ndia
(4.8%), aps vrios anos de aumento da inflao e elevados
dfices pblicos.(Global Economic and Prospects, Jan 2014).
China
FDI in Europe reduced to 381 billion USD in 2013 from

437 billion USD in 2012. Forecasts however indicate
investments worth 512 billion USD in 2014 and 582 billion
USD in 2015 (Economic Intelligence Unit).
No continente Europeu, o IDE apresentou uma evoluo

negativa para os USD 381 mil milhes em 2013, perante os
USD 437 mil milhes registados em 2012. No entanto as
projeces indicam um volume de investimentos no valor de
USD 512 mil milhes e USD 582 mil milhes, em 2014 e 2015
respetivamente (The Economic Intelligence Unit).
Unit database
Para 2014, a regio prev um crescimento do PIB na ordem dos

6.1% e 6.4% em 2015, em consonncia com o fortalecimento da
procura externa, e uma continuada captao de investimento
internacional. (Global Economic and Prospects, Janeiro 2014).
The region expects GDP growth of 6.1% in 2014 and 6.4% in

2015 consistent with the strengthening of external demand
and continued international investment (Global Economic
Prospects January 2014).
EUA e Canada
USA and Canada
O crescimento do PIB nos EUA foi de 1.9% em 2013, com a

contnua recuperao da procura interna privada. O Canad
registou um crescimento do PIB que se situou em 2% em 2013,
prevendo-se um crescimento de 2.3% em 2014 e 2.4% em 2015
( World Economic Outlook, Abril 2014).
With the continuous recovery of private domestic demand

the growth of GDP in the USA was 1.9% in 2013. Canada
recorded GDP growth of 2% in 2013 and is forecasting
growth of 2.3% in 2014 and 2.4% in 2015 (World Economic
Outlook, April 2014).
Em 2013, as exportaes de bens e servios dos EUA

para o resto do mundo atingiram uma mdia mensal de
cerca de USD 189 mil milhes, sendo as importaes de
aproximadamente USD 229 mil milhes. As exportaes
representaram 13.5% da produo interna dos EUA em 2013,
uma varivel estvel e verificada em 2012 ( Economic Report
of the President, Maro 2014).
In 2013 exports of goods and services by the USA to the

rest of the world reached a monthly average of around
189 billion USD with imports of approximately 229 billion
USD. Exports accounted for 13.5% of the GDP in 2013, a
stable position compared to 2012 (Economic Report of the
President, March 2014).
O IDE nos EUA aumentou para USD 188 mil milhes em

2013, aps os USD 161 milhes registados em 2012. (World
Investment Report 2014).
FDI in the USA increased to 188 billion USD in 2013,

following the 161 million USD recorded in 2012 (World
Investment Report 2014).
Economia Nacional
National Economy
Por: Asslam Osman e Walter Mandlate
By: Asslam Osman and Walter Mandlate
Crescimento Econmico1
Economic growth1
Crescimento Econmico consiste no aumento da capacidade

produtiva de uma economia. Convencionalmente, medido
pela taxa de crescimento anual do PIB e, geralmente calculase em termos reais a fim de expurgar o efeito da inflao no
preo dos bens e servios produzidos.
Economic growth is the increase in the productive capacity

of an economy. It is conventionally measured by the annual
rate of growth of GDP and normally calculated in real terms
in order to remove the effect of inflation on the price of goods
and services produced.
Para o ano em anlise, foi projectado um PIB (nominal) de

472,035 milhes de MT contudo, somente foram atingidos
469,238 milhes MT. O desempenho econmico de 2013 foi
marcado pela ocorrncia de factores climatricos adversos
como cheias, inundaes e tempestades, causando a
perda de vidas humanas, para alm da destruio de
infra-estruturas pblicas e privadas. Nesta perspectiva,
a projeco para o crescimento econmico de 2013 foi
revista em baixa para 7.0% contra os 8.5% inicialmente
projectado, tendo o pas registado uma taxa de
crescimento 0.8pp acima da taxa revista.
Os sectores que registaram maior crescimento foram: (i)
Construo (15.2%); (ii) Actividades imobilirias, alugueres
e servios prestados s empresas (15.2%); (iii)Transportes,
Armazenagem e Comunicaes (12.2%); e (iv) Actividades
Financeiras (10.4%). Os sectores de Pesca, Indstria
Manunfactureira e Comrcio tiveram um crescimento
modesto de 3.7%, 4.5% e 3.0% respectivamente enquanto,
o sub-sector da Silvicultura teve uma reduo no seu
crescimento em 4.0%.
O sector de construo e montagem registou um aumento
de 9.6pp acima do planificado, devido aos trabalhos de
reabilitao e manuteno de estradas que incluram
a manuteno de 20,003 km de estrada, efectuao de
melhoramentos localizados totalizando em 1,446 km,
concluda a construo de 5 pontes e, a manuteno de 7
pontes e 11 bsculas.
O sector dos transportes e comunicaes teve um
desempenho positivo de 12.2%, tendo os sub-sectores de
Comunicaes notabilizado com um crescimento de 28.0%
resultante da maior diversificao de servios e marketing
em particular, na rede mvel. Na rea dos servios de
correios, o desempenho positivo de cerca de 29.0%, deveuse aos maiores investimentos na rea postal e no aumento
de encomendas de servios. No sub-sector Ferrovirio o
crescimento de 13% resultou do aumento do transporte
de carvo e de mercadorias em trnsito em consequncia
do aumento da capacidade de manuseamento do Porto
da Beira, que passou a receber navios 24 horas por dia e
melhorada a sua capacidade de manuseamento de carga de
6.8 para 9.6 milhes de toneladas mtricas por ano. Ainda
assim, o crescimento verificado no sector deTransportes e
Comunicaes encontra-se abaixo do planificado (14.1%).
For the year under review, a GDP (nominal) of MZN 472,035

million was projected however only MZN 469,238 million
was achieved. Economic performance in 2013 was affected
by adverse climatic factors such as floods and storms which
caused loss of human life in addition to the destruction of public
and private infrastructures. In response to this the projection
for economic growth in 2013 was revised downwards to 7.0%
compared to the 8.5% initially projected, the country eventually
recording growth of 0.8pp above the revised rate.
The sectors registering the highest growth were: (i)
Construction (15.2%) (ii) Real estate activities, renting
and business services (15.2%) (iii) Transport, storage and
communications (12.2%); and (iv) Financial Activities (10.4%).
The Fishing, Manufacturing Industry and Commerce sectors
showed modest growth of 3.7%, 4.5% and 3.0% respectively
whilst the Forestry sub-sector recorded a reduction of 4.0%.
The Construction sector showed an increase of 9.6pp above
the rate planned as result of rehabilitation and maintenance of
20,003 miles of roads, improvements to 1,446 miles of local
roads, construction of 5 bridges and maintenance of 7 bridges
and 11 weighbridges.
The transport and communications sector performed
positively with 12.2% growth. The communications subsector stood out with an increase of 28.0% resulting from
the greater diversification of services and marketing in
particular relating to the mobile network. Postal services
grew approximately 29.0% mainly due to higher investments
in services and an increased demand for these services.
The railways sub-sector grew 13% as result of the increase
in transport of coal and other goods, a consequence of
an increase in the handling capacity of the port of Beira
(increased its capacity from 6.8 to 9.6 million metric tons per
year, for which can now unload ships 24 hours a day). Despite
these, the transport and communications sector grew 14.1%
below the planned.
With regard to passenger traffic, the torrential rain which fell
during the first few months of the year causing temporary
No que tange ao trfego de passageiros, as chuvas

torrenciais cadas nos primeiro meses do ano, provocando
danos temporrios nas linhas frreas de Limpopo e de
Ressano Garcia, na zona Sul, e na linha de Sena, na zona
Centro do pas condicionaram o desempenho deste
sector traduzindo-se na reduo do trfego ferrovirio de
passageiros em cerca de 17.9%.
O transporte rodovirio registou uma contraco no
seu nvel de crescimento, tendo somente atingido uma
taxa de crescimento de 1.2% dos 10.6% planificados.
O desempenho deste sub-sector foi influenciado pelo
crescente congestionamento das rodovias, que contriburam
para a reduo da frequncia de veculos tanto de transporte
de carga como de passageiros e de certo modo pela
instabilidade que se registou ao longo da Estrada N1.
O sector das actividades financeiras registou uma taxa de
crescimento de 10.4% contra os 17.7% do planificado, o que
representa cerca de 59% do planificado. Este crescimento
deveu-se a dinmica do sector real da economia traduzida
pelo aumento do volume de crdito concedido nos sectores
de Construo,Transportes e Comunicaes e, Comrcio. Em
2013, entraram em funcionamento mais 35 instituies de
microcrdito, foram abertos 19 agncias de bancos, elevando
o nmero de agncias bancrias em funcionamento no
territrio nacional para 520. A estes balces, adicionamse ainda 33 agncias de micro-bancos e 8 agncias de
cooperativas de crdito, totalizando 561 agncias de
instituies de crdito presentes em todas as capitais
provinciais, municpios e em 63 distritos do pas.
Por outro lado, os sectores de Pesca, Indstria
Manufactureira e Comrcio tiveram um desempenho
modesto em ralao ao esperado. O sub-sector de
Silvicultura e Explorao Florestal registou uma reduo
no seu crescimento na ordem de 4.0%. Neste perodo, foi
tambm registada uma reduo assinalvel na emisso de
licenas de explorao da madeira em toros de 1,035 para
565 e, reduo volume de madeira em toros produzida de
321,370 m3 para 212,711 m3. O desempenho deste subsector, foi influenciado pela reclassificao de algumas
espcies, para espcies de primeira classe, as quais esto
interditas de serem exportadas em toros, devendo ser
processadas internamente e, pela nova exigncia de emisso
de licenas de explorao aps a apresentao e aprovao
dos planos de maneio, conforme previsto pelo Decreto
30/2012, de 01 de Agosto.
A tabela abaixo apresenta a evoluo da taxa de crescimento
da produo global e sectorial (%) de 2009 2013:
damage to the Limpopo and Ressano Garcia railway lines in

the South and to the Sena line in the central region affected
the performance of this sector with a fall in passenger rail
traffic of approximately 17.9%.
Road transport registered a downturn, with growth of only
1.2% compared to the 10.6% planned. The performance of
this sub-sector was influenced by the increasing congestion
on the highways, which contributed to a reduction in the
frequency of journeys for vehicles carrying both cargo
transport and passengers and by the instability that occurred
along the N1 Road.
The Financial Activities sector registered growth of 10.4%
compared to the 17.7% planned. The growth achieved
was due to dynamics within the economic sectors seen,
specifically an increase in the volume of credit granted
to the construction, transport and communications and
commerce sectors. In 2013, more than 35 microfinance
institutions began operations and 19 banks branches were
opened bringing the total number of bank branches operating
within Mozambique to 520. To this can be added 33 microcredit agencies and 8 credit unions agencies, bringing
the total number of credit institutions to 561. All these are
concentrated in provincial capitals, municipalities and 63 of
the countrys districts.
The fishing, manufacturing industry and commerce sectors
performed modestly in relation to expectations. The
Silviculture and forestry sub-sector recorded a decrease
of 4.0% in its activity. In this period there was a notable
reduction in the number of operating licenses issued in
relation to timber logs, from 1,035 to 565 and a reduction
in the volume of timber logs produced from 321,370 m3
to 212,711 m3. The performance of this sub-sector was
influenced by the reclassification of some species to firstclass species, which are prohibited from being exported as
logs and must be processed within Mozambique. The law
added a new requirement, prescribed in Decree 30/01, August
2012, which is for the issuance of operating licenses there has
to one management plan submitted and approval.
The table below presents the evolution of the growth rate for
global and sectorial production (%) from 2009 to 2013:
________________________________________________________________________________
________________________________________________________________________________
Balano do PES 2013
Review of the Economic and Social Plan (PES) 2013
-5.9
5.4
13.4
6.9
1.4
5.9
2.7
2.3
-4
-1.8
7.7
13.7
4.9
3.7
silvicultura e Explorao Florestal / Forestry Services

Pesca / Fisheries
Indstria de Extraco de Minerais / Mining Industry
22.3
5.6
8.7
58.4
5.2
Indstria Transformadora / Manufacturing Industry
2.8
1.9
3.1
4.5
4.5
Electricidade e gua / Electricity and Water
5.9
7.7
9.2
-3
9.7
17.1
-14
0.5
3.9
15.2
7.9
5.7
5.2
5.2
36.3
1.6
5.2
5.2
Alojamento, Restaurao e Similares / Accomodation, Restaurants and Similar Activities
2.6
11
9.8
10
Transportes e Comunicaes / Transport and Communication
15
10.1
14.8
14.2
12.2
Servios Financeiros / Financial Services
8.7
26.6
17.6
16.4
10.4
Aluguer de Imveis / Real Estate
7.8
6.4
7.2
15.2
11.9
3.4
18.4
9.8
-0.7
2.4
2.4
2.4
7.8
6.2
7.2
7.6
7.8
Construo / Construction
Comrcio / Trade
Servio de Reparao / Repair Services
Servios do Governo / Govenment Services

Outros Servios / Other Services
Total da Produo / Total Production
Inflao2
Inflation2
Em 2013, previu-se continuar a conjugar as Polticas

Monetrias, Fiscal e Cambial, de modo a manter a taxa de
inflao a um dgito, onde foi prevista uma taxa mdia de
7.5%. No entanto, a inflao mdia anual situou-se em menos
3.3pp, tendo o pas registado uma taxa de 4.2% (2012: 2.1%).
Pelo segundo ano consecutivo, a taxa de crescimento da
economia moambicana (PIB: 7.5%) situou-se acima do
crescimento do nvel geral dos preos (Inflao: 4.2%).
In 2013, the combination of fiscal, monetary and exchange rate

policies were expected to continue in order to keep the inflation
rate to one digit, with a forecast of an average rate of 7.5%. The
actual average annual inflation rate was 3.3pp less than this with
the country recording a rate of 4.2% (2012: 2.1%). For the second
consecutive year the growth of the Mozambican economy
(GDP: 7.5%) was above the growth in the general level of prices
(inflation: 4.2%).
Crescimento da Produo e Inflao / Production and Inflaction Growth
25
20
15
10
5
0
-5
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Taxa de crescimento do PIB (real) / GDP growth rate (real)

Taxa de inflao / Inflaction rate
Fonte / Source: Baseado nos dados do BdPES e 2013 e INE / Based on data from the review of the PES 2013 and INE
________________________________________________________________________________
2
Balano do PES 2012 e Dados do Instituto Nacional de Estatsticas (INE)
________________________________________________________________________________
2
Review of the PES 2013 and data from the National Institute of Statistics (INE)
Variao Mensal de Preos - 2013
2
1.5
1.43
1.06
0.6
0.26
0.5
0.64
0.23
-0.41
0
-0.5
-1
0.57
Dezembro
5.9
47.7
Pecuria / Livestock
Novembro
4.6
-0.5
-0.45
-0.15
-0.34
Outubro
6.8
Setembro
7.9
Agosto
4.2
Julho
5.1
Agricultura / Agriculture
With regard to the monthly variation in the general level of

prices, data indicates that in the months from May to September
there was a noteworthy reduction of prices and in the months
January to April and October to December the greatest price
changes were registered. February had the greatest impact on
price variances due to the flooding that occurred in much of the
country.
Junho
2013
5.6
Maio
2012
6.3
Abril
2011
5.9
Maro
2010
8.6
Fevereiro
2009
Agricultura, Pecuria e Silvicultura / Agriculture, Livestock and Forestry
Janeiro
Produo / Production
No que concerne a variao mensal do nvel geral de preos,

os dados indicam que nos meses de Maio a Setembro, houve
uma reduo assinalvel de preos tendo, portanto os meses
de Janeiro a Abril e de Outubro a Dezembro registado as
maiores variaes de preos. O ms de Fevereiro foi o que
apresentou a maior variao dos preos, devido as cheias e
inundaes que se verificaram em grande parte do Pas.
Taxas de Crescimento da Produo Global e Sectorial (%), 2009 a 2013 /

Global and Sectorial Production - Growth Rates (%), 2009 to 2013
Fonte / Source: Baseado nos dados do BdPES e 2013 e INE / Based on data from the review of the PES 2013 and INE
Ao nvel das trs principais cidades capitais (Maputo, Beira

e Nampula), a Cidade de Nampula foi a que registou a maior
taxa de inflao mdia anual de 5.11%, seguido pela Cidade de
Maputo e Beira com 4.21% e 2.64%, respectivamente.3
Of the three major capital cities (Maputo, Beira and

Nampula), Nampula city registered the highest annual
average inflation rate 5.11%, followed by Maputo and Beira
with 4.21% and 2.64%, respectively.3
De modo geral, a nvel internacional, os preos apresentaram

sinais significativos de agravamento ao longo do ano. Importa
realar somente um ligeiro agravamento de preos registado
nos pases emergentes e em desenvolvimento. Em funo
destes dados, pode-se aferir que de certo modo a inflao
registada nos primeiros quatro meses do ano em anlise
est relacionada com aspectos internos, nomeadamente, as
cheias ocorridas que assolaram extensas reas de cultivo, em
particular nas regies sul e centro, devastando culturas, infraestruturas diversas, para alm da paralisao da actividade
produtiva em outros sectores. O agravamento em termos
acumulados dos preos do carvo, farinha de milho, farinha de
mandioca e cebola melhor elucida esta situao.
At the international level, prices generally showed

significant signs of worsening over the course of the
year. It should be noted however that only slight increase
in prices were recorded in emerging and developing
countries. In the light of this data we can conclude that
the levels of inflation recorded in the first four months
of the year under review resulted from internal events,
in particular the floods that occurred affecting extensive
areas of cultivation mainly in the southern and central
regions, devastating crops and various infrastructures as
well as paralysing productive activity in other sectors. The
accumulated increase in prices for coal, corn flour, cassava
flour and onion best exemplify this situation.
Neste perodo, registou-se tambm uma relativa estabilidade

da taxa de cmbio em relao as principais moedas de
transaco. A apreciao do Metical face ao Rand e a
estabilidade de preos no mercado Sul-africano permitiu que
as importaes de produtos fossem efectuados a preos mais
baixos.
During this period there was also relative stability in the

exchange rate against the major transaction currencies.
The appreciation of the Metical against the Rand and price
stability in the South African market allowed products to
be imported at lower prices.
De modo a reduzir o custo de vida, foram implementadas

algumas medidas designadamente: a manuteno do
subsdio ao preo da farinha de trigo para a produo de po;
(ii) a fixao do preo de referncia para efeitos de clculo de
direitos aduaneiros na importao de produtos frescos (batata,
cebola, tomate e ovos) que foram fixadas em baixa nos casos
em que no h produo e, a manuteno do preo de alguns
servios como a gua e energia.
________________________________________________________________________________
3
Dados do INE
In order to reduce the cost of living some specific

measures were implemented namely (i) maintenance
of the subsidy on the price of wheat flour used for the
production of bread; (ii) maintenance of the reference
pricing used for calculating the customs duties on the
import of fresh produce (potato, onion, tomato and eggs)
established for occasions when there is no production
in Mozambique and (iii) maintaining the price of some
services such as water and electricity.
________________________________________________________________________________
3
INE statistics
Taxas de Cmbio4
Exchange rates4
Em Dezembro de 2013, a taxa de cmbio do Metical em relao

ao Dlar dos Estados Unidos da Amrica situou-se em 29.95
(MTn/USD), representando uma depreciao anual nominal
do metical de 1.49%, comparativamente a depreciao de
8.7% registada em 2012. A relativa estabilidade do Metical
face ao Dlar norte-americano no perodo em anlise, deveuse maior disponibilidade de divisas no mercado cambial,
como consequncia das alteraes legislativas introduzidas
recentemente no mercado cambial e do incremento dos nveis
de investimento directo estrangeiro, particularmente nos grandes
projectos. No que concerne aos Bancos Comerciais, o spread
entre a taxa de cmbio e das cotaes, reduziu de 0.75% em
Dezembro de 2012 para 0.60% em Dezembro de 2013.
In December 2013, the exchange rate of the Metical

against the United States Dollar maintained at 29.95 (MTn/
USD), representing a nominal annual depreciation of the
metical of 1.49% compared to 8.7% depreciation in 2012.
The relative stability of the Metical against the American
Dollar in the period under review was due to the increased
availability of foreign currency in the Forex market resulting
from the recently introduced legislative changes and
increasing levels of foreign direct investment particularly
in large projects. With regard to the commercial banks, the
spread between the exchange rate prices reduced from
0.75% in December 2012 to 0.60% in December 2013.
Em relao a cotao do Rand Sul-Africano, a moeda nacional

registou uma apreciao anual de 18.16%, tendo a cotao MTn/
ZAR situando-se em 2.84 Meticais por cada unidade de Rand,
comparativamente a igual perodo de 2012, a cotao MTn/ZAR
foi de 3.47.
In relation to the price of the South African Rand the

national currency showed an annual appreciation of
18.16%, with a value of at 2.84 MTn/ZAR (Meticais per
each unit of Rand), compared to 3.47 MTn/ZAR for the
same period in 2012.
34.00
5.00
32.00
4.50
30.00
4.00
28.00
3.50
26.00
3.00
24.00
2.50
22.00
1.50
20.00
1.00
No ano de 2013, de acordo com Centro de Promoo de

Investimentos, o total de investimentos no pas atingiu cerca de
USD 4,224,032,75, dos quais USD 1,363,367,086 referem-se ao
IDE, este investimento total gerou cerca de 35,627 novos postos
de trabalho. Durante este ano, foram aprovados 515 projectos
de investimento, dos quais, o sector de Servios lidera a lista
com 147 projectos aprovados, seguido pelo sector de Indstria
com 138 projectos, o sector de Transportes e Comunicaes
com 73, Hotelaria e Turismo com 57 projectos, Agricultura e
Agro-indstrias com 54 projectos, 38 projectos para o sector de
Construo e Obras Pblicas, 5 para Comrcio e, 3 para o sector
de Aquacultura e Pescas.
According to the Centre for the Promotion of Investments, in

2013 the total of investments in the country reached around
USD 4,224,032,751, of which USD 1,363,367,086 relates
to Foreign Direct Investment; total investments generated
about 35.627 new jobs. During the year 515 investment
projects were approved; the service sector leads the list
with 147 approved projects followed by the industry sector
with 138 projects, the transport and communications sector
with 73, hospitality industry and tourism with 57 projects,
agriculture and agro-industries with 54 projects, 38 projects
for the construction and public works sector, 5 for commerce
and 3 for the aquaculture and fisheries sector.
Investimento Aprovado por Sector / Approved Investments per Sector

0.1%
Agricultura e Agro-Indstria / Agricultura and Agro-Industry

Servios / Services
20.8%
8.8%
Indstria / Industry
Construo e Obras Pblicas / Constrution
6.6%
11.6%
Hotelaria e Tirismo / Tourism

Transportes e Comunicaes / Transports and Communications
Aquacultura e Pescas / Aquaculture and Fishery
38.2%
MTN / ZAR
Fonte / Source: Banco de Moambique / Banco de Moambique
0.1%
14.0%
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
MTN / USD
tendency as the Central Banks reference interest rates.

Interest rates for active operations (credit) for one year
maturity decreased slightly from 20.47% in December
2012 to 20.25% in November 2013. Passive operations
(deposits) showed a sharper reduction of 1.12pp
dropping to 9.13% in November 2013.
Investments6
Investimentos6
MTN / ZAR
MTN / USD
Taxas de Cmbio (mdias anuais) / Exchange Rates (annual averages)
a mesma tendncia das taxas de juro de referncia do Banco de

Moambique. As taxas de juro para as operaes activas (crdito)
para a maturidade de um ano decresceu ligeiramente para
20.25% em Novembro de 2013, aps 20.47% em Dezembro de
2012. As operaes passivas (depsitos) registaram uma reduo
mais acentuada, na ordem de 1.12pp passando para 9.13% em
Novembro de 2013.
Comrcio / Commerce
Fonte / Source: Baseado nos dados dos projectos aprovados pelo CPI - Centro de Promoo de Investimentos / Based on the data on projects
approved in 2013 by the CPI - Investments Promotion Centre
Taxas de Juro5
Interest rates5
Em 2013, o Banco de Moambique reduziu as taxas de juro de

referncia do nomeadamente, a Facilidade Permanente de Cedncia
dos anteriores 9.50% em 2012 para 8.25% (uma reduo na ordem
de 1.25pp) e a Facilidade Permanente de Absoro em 0.75pp,
passando dos 2.25% em 2012 para 1.50% em 2013.
In 2013, the Central Bank of Mozambique reduced its

reference interest rates namely the Marginal Lending Facility
(FPC) from 9.50% in 2012 to 8.25% (a reduction of 1.25pp)
and the Marginal Absorption Facility (FPA) by 0.75pp from
2.25% in 2012 to 1.50% in 2013.
No sentido inverso as redues registadas nas taxas de juro

de referncia (FPC e FPA), as restantes taxas de juro aplicadas
em outros produtos transaccionados no Mercado Monetrio
Interbancrio aumentaram. As taxas de juros dos BTs para as
maturidades 91, 182 e 364 dias aumentaram em 2.65pp, 3.21pp
e 3.62pp fixando-se em Dezembro de 2013 em 5.25%, 6.60% e
7.30%, respectivamente. Situao semelhante ocorreu para as
taxas de juro de permuta de liquidez entre instituies de crdito
que, aumentou em 0.65pp passando para 3.40% em Dezembro
de 2013.
In contrast to the reductions recorded in reference

interest rates (FPC and FPA), the remaining interest
rates applied to other products traded in the Inter-bank
Monetary Market increased. Interest rates for Treasury
Bills for maturities of 91, 182 and 364 days increased by
2.65pp, 3.62pp and 3.21pp closing in December 2013 at
5.25%, 6.60% and 7.30%, respectively. A similar situation
occurred for interest rates on liquidity swaps between
credit institutions which increased by 0.65pp moving to
3.40% in December 2013.
No que concerne as taxas de juro praticadas pelas instituies

de crdito nas transaces com os seus clientes, estas tiveram
Interest rates applied by credit institutions on

transactions with their clients showed the same
________________________________________________________________________________
________________________________________________________________________________
Review of the Economic and Social Plan
Review of the Economic and Social Plan and statistics from the Banco de Mozambique
Balano do PES
Balano do PES e dados estatsticos do Banco de Moambique
Os sectores da Indstria, Agricultura e Agro-indstria, Transportes

e Comunicaes e o sector de Servios, destacam-se na lista dos
sectores com o maior volume investimento alocado com cerca de
38%, 20%, 14% e 11%, respectivamente. Todos estes sectores,
totalizam mais de 80% do valor total dos investimentos realizado
durante o perodo em anlise.
The industry, agriculture and agro-industry, transport and

communications and the service sectors stand out as the
sectors with the largest investment volumes, approximately
38%, 20%, 14% and 11% of the total respectively. Investment
in these sectors accounts for more than 80% of the total value of
investments made during the period under review.
Projectosos Aprovado por Sector / Projects Approved per Sector

5

Servios / Services
54
73
Indstria / Industry
57
147

38
138

Comrcio / Commerce
________________________________________________________________________________
________________________________________________________________________________
Baseado nos dados dos projectos aprovados pelo Centro de Promoo de Investimentos (CPI)
Data on projects approved by the Centre for the Promotion of Investments (CPI)
In terms of employments generated by the 515

investment projects approved in 2013 (2012: 350), about
35.627 new employments were created. The agriculture
and agro-industry sector employed the largest number of
employees 9,395, followed by services and construction
and public works sectors with 8,982 and 5,142
employments, respectively.
Em termos de empregos gerados pelos 515 projectos de

investimentos aprovados em 2013 (2012: 350), foram criados
cerca de 35,627 novos postos de trabalho, onde, o sector de
Agricultura e Agro-indstria empregou o maior nmero de
trabalhadores 9,395, seguido pelos sectores de Servios e
Construo e Obras Pblicas com 8,982 e 5,142 postos de
trabalho, respectivamente.
Fluxo de IDE por pas de origem / Flow of FDI by country of origin

1.5%
1.5%
1.5% 1.0%
0.6%
3.1%
3.6%
6.5%
Empregos criados a partir de Investimentos / Jobs created from Investments
36.0%
17.2%
103 59
24.3%
1,593
Servios / Services
2,851
Indstria / Industry
9,395
5,142

7,502
Emiratos Arabes Unidos (EAU)

Portugal
frica do Sul
Maurcias
China
Reino Unido
Brasil
ndia
Itlia
Lesotho
Sudo
Outros Pases
3.2%
8,982
Comrcio / Commerce
Do total do investimento aprovado, a Cidade de Maputo foi a

provncia que registou o maior volume de investimento, com
cerca de 31% do total do investimento, seguida pela provncia
de Inhambane que obteve 25.67%, Gaza com 20.66%, provncia
de Maputo com 7.79%, Nampula com 4.84%, Zambzia com
3.63%, e por fim, as Provncias de Sofala, Tete, Niassa, Manica e
Cabo Delgado com um agregado de 6.44%.
Maputo City benefitted from the largest amount of

investments with about 31% of the total followed by
Inhambane province gaining 25.67%, Gaza with 20.66%,
Maputo province with 7.79%, Nampula and Zambzia
with 4.84% and 3.63% respectively and finally, the
provinces of Sofala, Tete, Niassa, Manica and Cabo
Delgado with an aggregate total of 6.44%.
Investimento aprovado por Provncia / Investments approved by province

1.77%
0.33%
4.86%
3.24%
1.77%
0.65%
1.94%
31.22%
25.67%
7.79%
20.74%
Cabo Delgado
Niassa
Nampula
Zambzia
Tete
Manica
Sofala
Inhambane
Gaza
Cidade de Maputo
Maputo
Os principais pases de origem do IDE em 2013 foram: frica do

Sul (RAS) com 26.7% de todo o IDE, China com 16.79%, Portugal
com 12.59%, Sua com 10.83%, Alemanha com 10.3%,
Emiratos rabes Unidos (EAU) com 3.54%, Uganda com
2.76%, Maurcias com 2.12%, Itlia, Reino Unido, Singapura,
Turquia e ndia com 1.95%, 1.76%, 1.74, 1.62% e 1.05%,
respectivamente e por fim, com cerca de 6.0% os Outros
pases investidores em Moambique.
In 2013, Foreign Direct Investment originated from South

Africa (RSA) with 26.7% of all FDI, China with 16.79%,
Portugal with 12.59%, Switzerland with 10.83%, Germany
with 10.3%, United Arab Emirates (UAE) with 3.54%,
Uganda with 2.76%, Mauritius with 2.12%, Italy, United
Kingdom, Singapore, Turkey and India with 1.95%, 1.76%,
1.74%, 1.62% and 1.05% respectively and finally around
6.0% from other countries investing in Mozambique.
Balana Comercial7
Trade Balance7
Dados disponveis at ao momento, indicam que, at

Setembro de 2013 as exportaes cresceram em 8.93%,
tendo atingido USD 2,834 milhes, se comparado com igual
perodo de 2012 em que situou-se nos USD 2,601 milhes. O
valor total das exportaes programado para 2013 foi de USD
3,989 milhes. Os grandes projectos foram responsveis
por USD 1,644 milhes em exportaes. Relativamente s
importaes, foi registado at Setembro o valor de USD 5,944
milhes o que representa cerca de 69% do valor programado
para o ano de 2013 (USD 8.629 milhes).
Available data so far indicates that up to September 2013 total

exports had reached USD 2,834 million 8.93% higher than the
USD 2,601 million recorded for the same period in 2012. The
anticipated total value of exports for 2013 was USD 3,989 million.
Major projects accounted for USD 1,644 million in exports. For
imports, USD 5,944 million was registered up to September
representing approximately 69% of the expected value for 2013
(USD 8,629 million).
At Setembro de 2013, os bens que mais contriburam para

o desempenho das exportaes foram: alumnio, carvo,
energia elctrica, acar, gs, areias pesadas e tabaco
com contribuies acima de USD 100 milhes por cada
um dos bens. Os bens registaram dinmicas diferentes
decorrentes das necessidades e variaes nos preos no
mercado internacional.
(i) A queda do preo mdio do alumnio no mercado
internacional em 7.7% e das receitas em 3.7% fez com
que o valor exportado no ultrapassasse os USD 812.8
milhes. Contudo, a reduo do preo no impediu que o
alumnio ocupasse o primeiro lugar na lista dos produtos
mais exportados.
(ii) O carvo registou um crescimento de 11.9%
comparativamente ao ano de 2012, este crescimento
explicado pelo aumento das quantidades exportadas
conseguindo superar o efeito negativo da queda do
preo internacional em 12.7% e as dificuldades logsticas
relacionadas com limitaes na capacidade de exportao.
O carvo ocupa a segunda posio dos produtos mais
exportados com um valor de cerca de USD 350.2 milhes.
(iii) A exportao de energia elctrica atingiu USD 197.4
milhes at Setembro de 2013 o que significou um
incremento de 1.8% no nvel de exportaes de energia
comparando com 2012, motivado essencialmente pelo
investimento feito na reposio das infra-estruturas de
transporte de energia elctrica para a frica do Sul que
sofreram danos na poca chuvosa.
In the period up to the end of September the goods with the

most significant impact on the value of exports were aluminium,
coal, electric power, gas, sugar, tobacco and heavy mineral sands
accounting for more than USD 100 million for each of this goods.
The export of these goods exhibit different dynamics arising from
demand and variations in prices in the international market.
(i) the reduction in the average price of aluminium on the
international market by 7.7% and a fall in revenues of 3.7%
meant that the export value did not exceed USD 812.8
million. However, the price reduction couldnt prevent
aluminium occupying first place in the list of exported
products;
(ii) exports of coal achieved growth of 11.9% compared to
the year 2012, this growth is explained by the increase in
the quantities exported overcoming the negative effects of
a fall in the international price of 12.7% and the logistical
difficulties relating to limitations in exportation capacities.
Coal occupies the second position in the list of exported
products with export sales of around USD 350.2 million;
(iii) electrical energy exports reached USD 197.4 million
by September 2013, an increase of 1.8% compared
to 2012, this was driven primarily by investment in
the replacement of the infrastructure of electricity
________________________________________________________________________________
________________________________________________________________________________
Balano do PES 2013
Review of the Economic and Social Plan (PES) 2013
(v) O volume das exportaes das Areias Pesadas

(ilmenite, rutilo e zirco) foi afectado pela reduo da
procura do mercado internacional, concretamente o
mercado asitico tendo registado uma queda de 37.5%
em relao a 2012. A receita total arrecadada para o ano
de 2013 foi de USD 103.9 milhes;
(vi) No que concerne ao Tabaco, importa referir que, o bom
desempenho agrcola e medidas de controlo evaso fiscal e
contrabando resultaram em exportaes que atingiram USD
171.9 milhes representando um crescimento anual de 1.0%.
(vii) O acar registou bom desempenho registando um
crescimento na ordem de 69%, tendo registado uma
receita de cerca de USD 163 milhes em 2013 contra USD
88.2 milhes registados em 2012. Este crescimento foi
motivado essencialmente pela subida do preo no mercado
internacional e o aumento das quantidades exportadas.
(viii) O volume exportado do algodo atingiu, em 2013, o
valor de USD 74.3 milhes motivado pelo aumento do preo
no mercado internacional (9.1%) e aumento da quantidade
exportada que superou em 100% quando comparado com
igual perodo do ano anterior;
(ix) A reexportao para os pases do interland (Zimbabwe,
Botswana e Malawi), renderam ao pas receitas na ordem
de USD 24 milhes e, a venda de combustveis, leos
e lubrificantes s transportadoras areas e martimas
estrangeiras, renderam USD 30.1 milhes, o que representa
um crescimento na ordem de 38%.
(x) As receitas provenientes da exportao da Banana
sofreram uma queda de 27%, como resultado das
dificuldades de penetrao no mercado europeu e asitico,
combinadas com a reduo do preo mdio internacional
em 3,0%. As receitas provenientes da exportao da
Banana no ultrapassaram os USD 20 milhes.
transmission lines to South Africa which had suffered

damage during the rainy season;
(iv) the increase in the quantities of gas exported resulted in
growth of 34.2% compared to the previous year rising from
USD 133.5 million to USD 180.2 million;
(v) the volume of exports of heavy mineral sands (ilmenite,
rutile and zircon) was affected by a reduction in demand
from the international market, particularly the Asian market,
and recorded a fall of 37.5% compared to 2012. The total
revenue collected for the year 2013 was USD 103.9 million;
(vi) with regard to tobacco it should be noted that the
good agricultural performance and successful measures
to control tax evasion and smuggling have resulted in
exports reaching USD 171.9 million representing an
annual growth rate of 1.0%.
(vii) sugar exports performed well registering growth of
69% and revenue of approximately USD 163 million in 2013
compared to USD 88.2 million in 2012. This growth was
driven mainly by the price rise in the international market and
the increase in the quantities exported.
(viii) the volume of cotton exports reached USD 74.3 million
in 2013 spurred on by the increase in the price in the
international market (9.1%) and an increase of more than
100% in the quantity exported compared to the same
period of the previous year;
(ix) re-exportation to countries in the hinterland (Zimbabwe,
Botswana and Malawi), yielded the country receipts
of around USD 24 million and the sale of fuels, oils and
lubricants to air carriers and foreign maritime transporters
yielded USD 30.1 million which represents growth of 38%.
(x) revenue from the export of bananas suffered a fall
of 27% as a result of the difficulties of penetrating the
European and Asian markets combined with a reduction in
the international average price of 3.0%. Revenue from the
export of bananas was less than USD 20 million.
A importao dos principais bens de consumo registaram

um crescimento, com maior destaque para o leo alimentar,
cereais, medicamentos e automveis acima de 100%, 44%,
26% e 13%, respectivamente gerando receitas na ordem
de USD 907.2 milhes.
Imports of the principal consumer goods increased with greatest

impact seen in imports of cooking oil, grain, medicines and
vehicles at 100%, 44%, 26% and 13% respectively generating
revenue in the order of USD 907.2 million.
Para 2013, foi estimado um volume total de importaes de

cerca de USD 8,629 milhes, no entanto at Setembro de
2013, do valor planeado foi realizado um montante de cerca de
USD 5,943 milhes. Deste valor, cerca de USD 1,119 milhes
correspondem a importao de matrias-primas e bens
intermedirios o que representa um incremento de 20.2% em
relao a 2012, este crescimento explicado pelo aumento
na importao de combustveis em 26.0%, para USD 863.8
milhes com vista a responder em parte, as necessidades
crescentes de matrias-primas das empresas de IDE. Este
crescimento tambm justificado pelo crescimento na
importao de Cimento em 87.9% para USD 61.7 milhes
For 2013, the total volume of imports was forecast at USD

8,629 million of this value USD 5,943 million had been
imported up to the end of September. Approximately USD
1,119 million of this total relates to the import of raw materials
and intermediate goods representing an increase of 20.2%
compared to 2012 this growth is explained by the increase
of 26.0% in the import of fuels to USD 863.8 million
aimed in part at responding to the growing needs for
raw materials for FDI businesses. This growth is also
explained by the growth in imports of cement by
87.9% to USD 61.7 million which was necessary to
como forma de suprir com o dfice da produo interna

face a expanso do parque imobilirio e da construo de
empreendimentos pblicos.
A expanso de empresas instaladas no pas assim como
a entrada de novas provenientes de Investimento Directo
Estrangeiro particularmente ligadas aos projectos de
expanso das unidades fabris j instaladas no pas, a
prospeco e explorao de recursos naturais com
destaque para o gs natural fez com que o volume de
importao atingisse USD 1,512 milhes at Setembro de
2013. Contudo, este valor decresceu tendo em conta que
at igual perodo de 2012 o volume de importaes dos
grandes projectos chegou a USD 1,720 milhes.
Aliado ao investimento directo estrangeiro, a necessidade
de aquisio de equipamento e tecnologia contribuiu para o
crescimento das importaes de bens de capital na ordem dos
34% em relao ao perodo homlogo de 2012, representando
o volume total de cerca de USD 1,673 milhes. Outras
importaes relevantes so as de alumnio bruto com cerca
de USD 371.8 milhes, material de construo com volume de
importao na ordem de USD 316.1 milhes e as importaes
de petrleo com USD 109.4 milhes.
make up the deficit in domestic production in the face of the

expansion of house building and construction by the state.
The increase in companies located in the country together
with new foreign direct investment particularly linked to
expansion projects for existing manufacturing units as well
as the exploration and exploitation of natural resources with
an emphasis on natural gas contributed to the import volume
reaching USD 1,512 million by September 2013, however, this
figure is less than the volume of imports for major projects for
the same period of 2012 which reached USD 1,720 million.
Allied to foreign direct investment is the need for the
acquisition of equipment and technology which contributed
to the growth in imports of capital goods of 34% compared
to the same period in 2012 taking it to a total volume of
USD 1,673 million. Other significant imports are raw
aluminium with an import volume of about USD 371.8 million,
construction material with around USD 316.1 million and
imports of petroleum with USD 109.4 million.
Evoluo da Balana Comercial / Trade Balance Evolution
7,000.00
USD milhes / millions
(iv) O aumento das quantidades exportadas de Gs

resultou num incremento em 34.2%, comparativamente
ao ano passado, passando de USD 133.5 milhes para
USD 180.2 milhes.
6,000.00
5,000.00
4,000.00
3,000.00
2,000.00
1,000.00
0.00
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Exportaes / Export
Importaes / Import
Analise
Agregada
Aggregate
Analysis
Por / By : Iolanda Cal, Drcio
Maumana e Wendy Massavanhane
Durante o perodo em anlise, o volume de negcios do

conjunto das 100 Maiores Empresas de Moambique
atingiu o valor mximo de 281,548 milhes de MT, o que
representa um crescimento de cerca de 18.80% em relao
a 2012. Este crescimento foi mais acentuado em Meticais
do que em Dlares Norte Americanos, como resultado da
apreciao do Metical face ao Dlar.
Em termos de resultado lquido, as 100 Maiores Empresas de
Moambique totalizaram lucros de cerca de MZN 7,396 milhes,
um decrscimo de 65.24% quando comparado com 2012.
Os Activos Lquidos agregados totalizaram cerca de MZN
814,800 milhes, representando um crescimento em
33.17% face a 2012.
No que diz respeito aos Capitais Prprios o conjunto
das 100 Maiores Empresas, registou um decrscimo na
ordem de 7.85% comparativamente a 2012, totalizando
MZN 206,819,milhes.
During the period under review, the total revenue of the

Top 100 companies in Mozambique reached MZN 281,548
million representing growth of around 18.80% compared
to 2012. As a result of the appreciation of the Metical
against the dollar the % growth was more pronounced in
Meticais than in American Dollars.
In terms of net profits, the Top 100 companies in
Mozambique recorded total profits of approximately MZN
7,396 million, a decrease of 65.24% compared to 2012.
Net aggregated assets totalled approximately MZN
814,800 million representing growth of 33.17% from 2012.
As regards equity, the total for the Top 100 companies
decrease by 7.85% from 2012 to MZN 206,819 million.
In respect to the number of employees, the Top 100
companies absorbed 72,995 workers, which represents an
increase of 16.07% compared to 2012.
Na componente referente ao nmero de trabalhadores, o

agregado das 100 Maiores Empresas absorveu um total
de cerca de 72,995 trabalhadores, o que representa um
incremento na ordem de 16.07%, comparativamente a 2012.
Anlise do Ranking
Volume de Negcios
O volume de negcios das 100 Maiores Empresas de
Moambique para o ano de 2013 foi de MZN 281,548
milhes, o que representa um crescimento de MZN
44,557 milhes em relao a 2012. Esse crescimento
foi mais uma vez influenciado pelo desempenho dos
sectores de Indstria que arrecadaram MZN 83,148
milhes e Comrcio com MZN 59,418 milhes, que
representam cerca de 50% do volume de negcios de
todos os sectores.
Analysis of the Ranking

Revenue
In 2013 the revenue of the Top 100 companies in
Mozambique was MZN 281,548 million, representing
growth of MZN 44.557 million in relation to the previous
year. This growth was once again influenced by the
performance of the industry sector which earned MZN
83,148 million and the commerce sector with MZN 59,418
million which together represented about 50% of the
revenue for all sectors.
The charts below illustrate the evolution of the revenue of
the Top 100 companies in Meticais and US dollars, from
1998 to 2013.
Os grficos abaixo, ilustram a evoluo do volume de

negcios das 100 Maiores Empresas, tanto em Meticais como
em Dlares Americanos, desde o ano 1998 ao ano 2013.
Volume de Negcios Total das 100 Maiores Empresas

Top 100 Companies Total Revenue (MZM)
O grfico que se segue, ilustra a distribuio do volume de
negcios por sector de actividades entre os anos 2013 e 2012.

250 000 Top 100 Companies Total Revenue (MZM)
Volume de Negcios por Sector

Revenues per Sector
281 548
236 990
236 990
224 711
224 711
194 313
146 769
146 769
139 984
139 984
129 833
129 833
108 114
108 114
87 645
87 645
86 735
58 977
58 977
51 431
46 448
24 539
17 614
100%
80%
60%
40%
2011
2012 2013
1998
1999
2000 2001
2002 2003 2004 2005 2006 2007 2008 2009 2010
2011
2012 2013
51 431
2002 2003 2004 2005 2006 2007 2008 2009 2010
46 448
2000 2001
24 539
1999
17 614
1998
14 463
14 463
50 000
100
86 735
150 000
100
000
194 313
200
000
150 000
281 548
250 000
200
50 000
0
The following chart illustrates the distribution of revenue

by sector between 2012 and 2013.
20%
0%
2013
2012

Top 100 Companies Total Revenue (USD)
2013
2012
0.6
0.6
Alojamento, Restaurao e Similares | Accommodation, Food and Beverages

9 000 Top 100 Companies Total Revenue (USD)
2.5
2.6
Agricultura e Pescas | Agriculture and Fisheries
4.4
5.6
Comunicaes | Communication
8 000
5.8
4.8
Construo | Construction
11.8
12.4
Transportes e Armazenagem | Transports ans Storage
12.2
12.6
Servios | Services
12.2
11.2
Actividades Financeiras e de Seguros | Financial Activities and Insurance
9 000
7
8 000
6
2011
8 393
9 413
8 393
9 413
7 733
7 733
5 463
5 463
6 687
5 490
5 490
4 311
4 311
5 365
3 808
4 662
2 527
2 527
2002 2003 2004 2005 2006 2007 2008 2009 2010

2 216
2000 2001
2 216
2 243
1 594
1 388
1999
2 243
1998
1 594
1 000
1 388
2 000
0
1 219
3 000
1
1 219
2
4 000
3 808
4 662
5
3 000
000
5 365
6
4 000
000
6 687
5
7 000
2012 2013
0
As mentioned
above
the sectors
which2011
contributed
Como referenciado
acima,
os sectores
1998 1999
2000
2001 que
2002mais
2003 2004 2005
2006 2007
2008
2009 2010
2012 most
2013
contriburam para o crescimento do volume de negcios to the growth in revenue were commerce and industry.
foi o da Indstria e de Comrcio. Dentro desses
Within these sectors prominence goes to companies
sectores, importa destacar as empresas Mozal, SARL
Mozal, SARL which contributed more than 38% of the
que contribui com mais de 38% do volume de negcios
industry sector revenue and PETROMOC, SA which
arrecadado pelo sector de Indstria e PETROMOC, SA
que contribuiu com mais de 31% do volume de negcios contributed more than 31% of the revenue earned by the
arrecadado pelo sector de Comrcio
commerce sector.
21.10 20.58
Comrcio | Commerce
29.53 29.57
Indstria | Industry
Os sectores de Construo, Actividades Financeiras e

de Seguros e Comrcio, tiveram as maiores taxas de
crescimento do volume de negcios no ranking das 100
Maiores Empresas em relao a 2012, com taxas de 41.24%,
29.41% e 21.86%, respectivamente. Contrariamente, o sector
de Comunicaes registou um decrscimo de 8% em relao
a edio anterior da pesquisa (2012/2011: 6.19%)
In the Top 100 companies ranking the construction, financial

and insurance activities and commerce sectors had the
highest growth rates in revenue compared to 2012 with rates
of 41.24%, 29.41% and 21.86% respectively. In contrast the
communications sector registered a decrease of 8% compared
to the previous edition of the survey (2012/2011: 6.19%).
Em 2013, o volume de negcios das 10 Maiores Empresas

de Moambique, totaliza MZN 124,829 milhes, contra
os MZN 118,254 milhes verificados no ano anterior, o
que representa um crescimento de 5.56%. A semelhana
do perodo anterior, a Mozal, SARL tem maior peso no
volume de negcios das 10 Maiores Empresas com
cerca de 25%, e seguido da Petromoc Petrleos de
Moambique, SA com 15% do volume de negcios.
In 2013, the turnover of the 10 largest companies in

Mozambique totalled MZN 124,829 million compared to the
MZN 118,254 million recorded in the previous year which
represents growth of 5.56%. As in the previous year Mozal,
SARL achieved the biggest share of the turnover of the top
10 companies with around 25% followed by Petromoc
Petrleos de Moambique, SA with 15% of the revenue.
Resultados Lquidos
Net Results
No perodo em anlise as 100 Maiores Empresas realizaram

proveitos na ordem de MZN 7,396 milhes, contra os
MZN 21,278 milhes verificado no perodo anterior, um
decrscimo de 65.24%. O sector de Alojamento, Restaurao
e Similares teve a maior taxa de crescimento dos seus
resultados lquidos (2,043%), registando lucros na ordem dos
MZN 105 milhes, seguido pelo Sector de Construo com
48.25% registando lucros na ordem de MZN 676 milhes.
In the period under review the top 100 companies achieved

profits of approximately MZN 7,396 million compared to
the MZN 21,278 million recorded in the previous period, a
decrease of 65.24%. The accommodation, restaurants and
similar activities sector had the highest rate of growth in its
net results (2,043%) with profits in the order of MZN 105
million, followed by the construction sector with 48.25%
growth and profits in the order of MZN 676 million.
O sector da Indstria registou prejuzos na ordem dos

MZN 6,167 milhes, este resultado foi influenciado
principalmente pelo desempenho negativo das empresas
Vale Moambique, SA e Mozal, SARL que juntas
totalizaram prejuzos de MZN 14,929 milhes.
The industry sector suffered losses in the order of MZN 6,167

million, this value was influenced mainly by the negative
performance of the companies Vale Mozambique, SA and Mozal,
SARL that together recorded losses of MZN 14,929 million.
Custos Operacionais
Operating Costs
No que concerne aos custos operacionais das 100 Maiores

Empresas de Moambique, estes passaram de MZN 190,912
milhes em 2012 para MZN 230,940 milhes em 2013, um
incremento de 20.97%. O sector da Indstria apresenta os
maiores custos operacionais com MZN 76,225 milhes,
seguido pelos sectores de Comrcio e Servios com MZN
48,422 milhes e MZN 30,253 milhes. O conjunto destes
trs (3) sectores representam mais de 60% to total dos custos
operacionais das 100 Maiores Empresas.
With regard to the operating costs of the Top 100

companies in Mozambique, these have increased from
MZN 190,912 million in 2012 to MZN 230,940 million in
2013, an increase of 20.97%. The industry sector has
the highest operating costs with MZN 76,225 million
followed by the commerce and services sectors with
MZN 48,422 million and MZN 30,253 million. These 3
sectors account for more than 60% of the total operating
costs of the Top 100 companies.
As 10 maiores empresas tiveram um incremento nos seus

custos operacionais de 11.7%, tendo totalizado cerca de MZN
117,649 milhes em 2013 (2012: MZN105,285 milhes).
Activos Lquidos
Os activos totais das 100 Maiores empresas de
Moambique totalizaram MZN 814,800 milhes,
representando um crescimento na ordem de 33.17%.
Contriburam em grande medida para este crescimento,
os sectores de Actividades Financeiras e de Seguros
com MZN 292,426 milhes e Indstria com MZN 266,980
milhes, que no seu total representam mais de metade dos
activos totais das 100 Maiores Empresas.
O sector de Agricultura e Pescas registou um crescimento
de 23.51%, um aumento de MZN 3, 797 milhes em
2012 para MZN 4,690 milhes em 2013, crescimento
assinalveis dos Activos Lquidos registou-se tambm no
sector da Indstria com 74.90%.
As 10 Maiores Empresas do Ranking, arrecadaram um
total de MZN 423,062 milhes, contra os MZN 369,364
milhes do perodo anterior. Neste grupo, destacaramse as empresas Vale Moambique, S.A com uma taxa de
crescimento de 29.60%, seguido pela Petromoc - Petrleos de
Moambique, S.A com 25.54% e BIM Banco Internacional
de Moambique, SA com 20.92%.
Capitais Prprios
Os Capitais Prprios das 100 Maiores empresas do Ranking
totalizam 206,819 milhes de MT em 2013, o que representa
uma reduo de 7.85% em relao a 2012 (2012: MZN 224,445
The top 10 companies had an increase in their operating

costs of 11.7% to approximately MZN 117,649 million in
2013 (2012: MZN 105,285 million).
Net Assets
The total assets of the Top 100 companies in
Mozambique totalled MZN 814,800 million, representing
growth of 33.17%. Contributing significantly to this
growth were the financial and insurance activities sector
with MZN 292,426 million and the industry sector with
MZN 266,980 million, which in total represent more than
half of total assets of the Top 100 companies.
The agriculture and fisheries sector recorded growth of
23.51%, an increase from MZN 3,797 million in 2012 to MZN
4,690 million in 2013, a considerable increase in net assets of
74.9% has also taken place in the industry sector.
The Top 10 companies in the ranking accumulated a total of
MZN 423,062 million compared to MZN 369,364 million in the
previous period. In this group Vale Mozambique, S.A. with a
growth rate of 29.60%, followed by Petromoc-Petrleos de
Moambique, S.A. with 25.54% and BIM-Banco Internacional
de Moambique, SA with 20.92% stand out.
Capital and Reserves
milhes). Nesta componente, o destaque vai para as

seguintes empresas: HCB, SARL com MZN 43,240 milhes,
seguido pela Mozal, SARL e CFM, E.P com MZN 38,077
milhes e MZN 26,992 milhes, respectivamente.
Os capitais prprios das 10 maiores empresas perfazem cerca
de MZN 126,691 milhes contra os MZN 133,171 milhes
registados em 2012, um decrscimo em torno de 4.87%.
Nmero deTrabalhadores
No que diz respeito ao nmero de trabalhadores, as
100 maiores empresas no total empregaram 72,995
trabalhadores, representando um crescimento de cerca
de 16.07% em relao a 2012.
Os sectores com maior nmero de trabalhadores
empregues foram os de Servios, com 22,058
trabalhadores empregues, seguido do sector de
Transportes e Armazenagens, com 12,806 colaboradores
e Actividades Financeiras e de Servios com 8,984
trabalhadores. Por outro lado, o sector de Alojamento
Restaurao e Similares o sector com menos
colaboradores empregues (1,391).
Comparativamente ao perodo anterior, verificou-se
uma reduo do nmero de trabalhadores empregues
nos sectores de Agricultura e Pescas e Comunicao na
ordem de 11.05% e 10.30% respectivamente. O sector
de Agricultura e Pescas que contou em 2012 com 6,387
trabalhadores e, no ano em anlise contou com 5,681 e,
por sua vez o sector de Comunicao que em 2012 havia
contado com 2,970 nesta edio contou com 2,664.
A semelhana da edio anterior, a empresa G4S Security
Services Moambique, Lda continua a liderar o sector
como maior empregadora, tendo empregado 13,911
colaboradores para o ano de 2013, seguida pela empresa
CFM Portos e Caminhos de Ferro de Moambique,
E.P, Lda com 5,656 trabalhadores e a Mozambique Leaf
Tobacco, Lda com 5,324 colaboradores.
Investimentos
No que diz respeito ao Investimento, para as 100
maiores empresas de Moambique, no perodo de 2013,
verificou-se um aumento em 19%, tendo as empresas
no perodo em anlise registado um volume de
investimentos de MZN 52,075 milhes, contra os MZN
43,760 milhes realizados no perodo anterior.
Anlise Sectorial por

Critrios
The Equity of the top 100 companies totalled MZN 206,819

million in 2013 which represents a reduction of 7.85%
compared to 2012 (2012: MZN 224,445 million). For this
component prominence goes to the following companies:
HCB, SARL with MZN 43,240 million followed by Mozal,
SARL and CFM, E.P with MZN 38,077 million and MZN
26,992 million respectively.
The equity of the Top 10 companies totals approximately MZN
126,291 million compared to MZN 133,171 million recorded in
2012, a decrease of approximately 4.87%.
Number of employees
As regards the number of employees, the Top 100
companies in total took on 72,995 workers, representing an
increase of about 16.07% compared to 2012.
The sectors with the largest number of employees taken
on were services with 22,058 employees, followed by
the transport and storage sector with 12,806 employees
and financial activities and services with 8,984 workers. In
contrast the accommodation, restaurants and similar services
sector recorded the lowest number (1,391).
Compared to the previous period, there was a reduction
in the number of workers taken on in the agriculture and
fisheries sector and communication sector by 11.05%
and 10.30% respectively. The agriculture and fisheries
sector recorded 6,387 workers in 2012 and only 5,681 in
the year under review and the communication sector
recorded 2,970 in 2012 and in this edition only 2,664.
As in the previous edition, G4S Security Services
Moambique, Lda continues to lead the industry as the
largest employer, with 13,911 workers in 2013, followed
by CFM-Portos e Caminhos de Ferro de Moambique,
E.P, Lda with 5,656 employees and Mozambique Leaf
Tobacco, Lda with 5,324 employees.
Investments
With regard to investment, the Top 100 companies in
Mozambique saw an increase of 19% in 2013, with
companies recording growth in investments of MZN 52,075
million in the period under review compared to MZN 43,760
million Meticais achieved in the previous period.
Sector analysis by criteria
A anlise sectorial por critrios dos diferentes sectores

da Economia Nacional tem como base os dados das 100
Maiores Empresas de Moambique do ano 2013, tendo
em conta a evoluo de cada sector relativamente ao
ano de 2012. Para esta anlise, so considerados os
seguintes indicadores financeiros:
The analysis by criteria of the performance of the different

sectors of the national economy is based on the data from the
Top 100 companies in Mozambique in the year 2013 and looks
at the evolution of each sector in relation to 2012. For this
analysis, the following financial ratios are examined:
Volume de Negcios
Revenue
Variao do Volume de Negcios

Resultados Lquidos
Variao dos Resultados Lquidos
Rentabilidade dos Volumes de Negcio
Rentabilidade dos Capitais Prprios
Liquidez Geral
Nmero de Trabalhadores
Variao do Nmero de Trabalhadores
Volume de Negcios por Trabalhador; e
Variao do Volume de Negcios por Trabalhador.
Variation in revenue
Net Profits
Variation in net profits
Return on revenue
Return on equity
Overall Liquidity
Number of employees
Variation in the number of employees
No que concerne ao volume de negcios, os sectores de

Indstria e Comrcio lideram mais uma vez o ranking com
um peso de 29.53% e 21.10%, respectivamente. Estes sectores
tem um peso de cerca de 50% no volume de negcios. Os
sectores de Actividades Financeiras e de Seguros e Servios
ocupam as posies seguintes com um peso de 12.23% e
12.19%, respectivamente. Neste sector foram registadas
ligeiras alteraes, como a subida do sector de Actividades
Financeiras e de Seguros da quinta posio para a terceira,
a subida do sector de Construo para a sexta posio.
Os sectores de Servios,Transporte e Armazenagem e
Comunicaes, registaram quedas de uma posio, passando
para quarta, quinta e stimas posies, respectivamente
comparando com a ltima edio da pesquisa.
Revenue per employee; and
Variation in revenue per employee.
Na componente referente a variao do volume de negcios,

destacam-se os sectores de Construo, Actividades
Financeiras e de Seguros e Comrcio com taxas de 41.24%,
29.41 e 21.86%, respectivamente. O crescimento verificado
nestes sectores foi influenciado pelo bom desempenho
das empresas EMOCIL, Lda, LETSHEGO, SA e pela Malala
Investment Group, Lda com taxas de crescimento de cerca
de 164%, 122% e 209%, respectivamente. Em contrapartida, o
sector de Comunicaes registou um decrscimo de cerca de
8% no seu volume de negcios.
No que concerne os resultados lquidos, este ranking
registou grandes alteraes, passando a ser liderado pelo
sector de Actividades Financeiras e de Seguros com um
total de MZN 6,430 milhes. Aqui importa salientar o bom
desempenho do BIM, SA, BCI, SA e do Standard Bank que
absorveram mais de 90% dos resultados lquidos do sector.
Os sectores deTransporte e Armazenagem e de Servios,
seguem nas seguintes posies com MZN 3,908 milhes e
MZN 991 milhes, respectivamente.
Nesta rubrica, importa salientar a queda do sector da
Indstria da primeira posio em 2012 para nona e
ltima posio. Esta queda deveu-se principalmente ao
desempenho negativo das empresas Vale Moambique,
SA e Mozal, SARL. A subida do sector de Construo da
oitava para a quinta posio.
No ranking da rentabilidade do volume de negcios,
os sectores de Actividades Financeiras e de Seguros,
Transporte e Armazenagem e Agricultura e Pescas lideram
as trs primeiras posies com 18.68%, 11.73% e 7.29%,
respectivamente. Aqui, o maior destaque vai para o sector
de Alojamento, Restaurao e Similares que saiu da nona
e ltima posio em 2012 para a quarta posio em 2013,
influenciado principalmente pelo bom desempenho do Hotel
Avenida, Lda e pela empresa Bazaruto, Lda.
With regard to turnover, the industry and commerce

sectors once more led the ranking with 29.53% and 21.10%
respectively. These sectors accounted for approximately 50%
of turnover. The financial and insurance activities and services
sectors followed with 12.23% and 12.19% respectively. In
this category slight changes from the previous edition were
seen with the financial and insurance activities sector rising
from fifth to third place, the construction sector rose to sixth
position and the sectors of services, transport and storage and
communications dropped one place each to fourth, fifth and
seventh positions respectively.
Turning to the criteria, variation in revenue, the construction,
financial and insurance activities and commerce sectors with
41.24%, 29.41% and 21.86% growth respectively stand out.
The growth in these sectors was influenced by good business
performances by EMOCIL Lda., LETSHEGO, SA and by Malala
Investment Group, Lda with growth rates of around 164%, 122%
and 209%, respectively. In contrast the communications sector
registered a decrease of approximately 8% in its turnover.
With regard to net profits the ranking has seen major changes and
is now led by the financial and insurance activities sector with a
total of MZN 6,430 million. Within that sector, prominence goes to
BIM, SA, BCI, SA and Standard Bank which together accounted
for more than 90% of the net profits of the sector should be noted.
The transport and storage and services sectors followed with MZN
3,908 million and MZN 991 million respectively.
Under this heading its important to note the fall of the industry
sector from first position in 2012 to ninth and last position.
This fall was mainly due to the negative performance by Vale
Mozambique, SA and Mozal, SARL. The construction sector
rose from eighth position to fifth.
In the ranking for return on turnover, the financial and
insurance activities, transport and storage and agriculture
and fisheries sectors held the first three positions with
18.68%, 11.73% and 7.29% returns respectively. The rise of
the accommodation, restaurant and similar activities from
ninth and last position in 2012 to fourth position in 2013
which was influenced mainly by good performances by Hotel
Avenida, Lda and Bazaruto, Lda is noteworthy.
Quanto ao indicador relacionado com a rentabilidade dos

capitais prprios, os dados da pesquisa apontam para os
sectores da Agricultura e Pescas, Construo e Actividades
Financeiras e de Seguros como sendo os mais rentveis.
Neste indicador, o grande destaque vai para o sector de
Alojamento, Restaurao e Similares que saiu da nona
posio em 2012 para a quinta posio em 2013 e o sector
da Indstria que apresentou uma rentabilidade negativa de
7.35%, ocupando a ltima posio.
No que concerne a liquidez geral, os sectores de
Indstria, Transportes e Armazenagem e Agricultura
e Pescas ocuparam as primeiras posies com
taxas de 1.88%, 1.44% e 1.39%, respectivamente. Em
contrapartida, os sectores de Alojamento Restaurao
e Similares, Comrcio e Comunicaes apresentaram
uma menor dinmica ocupando as trs ltimas
posies do ranking, respectivamente.
O sector de Servios continua a liderar o ranking quanto aos
empregos gerados, tendo em 2013 empregue um total de
22,058 trabalhadores, seguido pelo sector deTransportes e
Armazenagem com 12,806 e Actividades Financeiras e de
Seguros com 8,984 trabalhadores, o que corresponde a cerca
de 60% dos trabalhadores empregues.
Analisando o critrio volume de negcio por trabalhador, o
sector de Comrcio lidera o ranking com MZN 13 milhes,
seguido pelo sector de Indstria com MZN 12 milhes e
pelo sector de Comunicaes com MZN 4 milhes. Neste
sector foram registadas ligeiras alteraes, como a
passagem do sector do Comrcio da segunda para a
primeira posio e do sector de Agricultura e Pescas da
nona para oitava posio.
Em termos de variao do volume de negcios por
trabalhador, o destaque vai para os sectores de
Agricultura e Pescas, Actividades Financeiras e de
Seguros e Comrcio, com taxas de crescimento de
24.05%, 17.39% e 6.10%, respectivamente. Os restantes
Sectores a excepo de Servios e Comunicaes,
apresentaram decrscimos para esta rbrica.
As tabelas abaixo apresentadas ilustram uma anlise mais
detalhada dos critrios e resultados acima apresentados.
As for the indicator relating to the return on equity the research

data shows the agriculture and fisheries, construction and
financial and insurance activities sectors as being the most
profitable. In this category the rise of the accommodation,
restaurants and similar activities from ninth position in 2012 to
fifth position in 2013 and the fall of the industry sector with a
negative return of 7.35% to last position stand out.
With regard to overall liquidity the industry, transport and storage
and agriculture and fisheries sectors occupied the top positions
with rates of 1.88%, 1.44% and 1.39% respectively. In contrast,
the accommodation, restaurants and similar activities, commerce
and communications sectors were less dynamic occupying the
last three positions in the ranking respectively.
The service sector continues to lead the ranking on the number
of jobs generated in 2013 hiring a total of 22,058 employees,
it was followed by the transport and warehousing sector with
12,806 and the financial and insurance activities sector with
8,984 employees, these accounts for approximately 60% of
the workers employed.
Analysing the revenue per worker, the commerce sector
leads the ranking with MZN 13 million, followed by the
Industry sector with MZN 12 million and the communications
sector with MZN 4 million. For this criterion slight changes
were seen including the rise of the commerce sector from
second to first position and the agriculture and fisheries
sector from ninth to eighth position.
In terms of the variation in revenue per worker, the most
prominent sectors are agriculture and fisheries, financial
and insurance activities and commerce with growth rates of
24.05%, 17.39% and 6.10%, respectively. The other sectors,
with the exception of the services and communications
sectors, recorded reductions for this criterion.
The tables below illustrate a more detailed analysis of the
criteria and results presented above.
Volume de Negcios por Sector / Revenue per Sector

Rank
2013
Sector
Activity
2012
Anos
Year
(%) Variao
(%) Variation
2013
2012
13/12
Indstria / Industry
83,148,072
70,066,975
18.67
Comrcio / Commerce
59,418,292
48,761,344
21.86
Actividades Financeiras e de Seguros / Financial Activities and Insurance
34,423,187
26,599,104
29.41
Servios / Services
34,330,983
29,756,622
15.37
Transportes e Armazenagem / Transports and Storage
33,317,968
29,283,967
13.78
16,225,862
11,487,896
41.24
Comunicaes / Communication
12,283,727
13,352,181
(8.00)
Agricultura e Pescas / Agriculture and Fisheries
6,940,753
6,271,205
10.68
Alojamento, Restaurao e Similares / Accommodation Food and Beverages
1,458,656
1,411,157
3.37
Custos Operacionais / Operational Cost
Variao do Volume de Negcios por Sector / Variation in Revenue per Sector

Rank
2013
Sector
Activity
(%) Variao
(%) Variation
Rank
13/12
12/11
2013 2012
2012
Sector
Activity
Anos
Year
(%) Variao
(%) Variation
2013
2012
13/12
41.24
0.15
Indstria / Industry
76,224,775
53,948,693
41.29
29.41
39.38
Comrcio / Commerce
48,421,750
41,746,256
15.99
Servios / Services
30,252,607
27,669,338
9.34
Comrcio / Commerce
21.86
7.41
Industria / Industry
18.67
(10.30)
24,225,231
21,858,111
10.83
Servios / Services
15.37
19.81
19,766,513
17,139,515
15.33
13.78
5.93
12,635,050
9,814,456
28.74
12,055,894
12,110,337
(0.45)
6,434,231
5,709,824
12.69
924,008
915,675
0.91
Alojamento, Restaurao e Similares / Accommodation, Food and Beverages
10.68
17.00
3.37
11.70
(8.00)
6.19
Alojamento, Restauraco e Similares / Accommodation, Food and Beverages
Resultado Lquido por Sector / Net Results per Sector

Rank
2013
Sector
Activity
2012
Activos Lquidos / Net Assets

Ano
Year
% Variao
% Variation
2013
2012
Rank
Sector
Activity
Ano
Year
% Variao
% Variation
13/12
2013
2012
2013
2012
13/12
292,425,841
238,288,723
22.72
266,980,138
152,650,243
74.90
6,430,178
5,414,914
18.75
3,908,271
3,107,793
25.76
Servios / Services
991,506
1,198,394
(17.26)
79,190,006
67,844,249
16.72
(28.01)
Servios / Services
62,586,570
55,782,938
12.20
48.25
Comrcio / Commerce
38,848,608
32,677,051
18.89
37,596,919
32,090,118
17.16
28,599,870
24,944,993
14.65
Comrcio / Commerce
697,190
968,451
676,417
456,266
506,231
572,038
(11.50)
248,411
856,377
(70.99)
105,289
4,913
2,043.07
4,689,970
3,797,219
23.51
(170.90)
3,882,437
3,781,618
2.67
(6,167,774)
8,698,915
Capitais Prprios / Equity Capital
Variao do Resultado Lquido por Sector / Variation of Net Results per Sector
Rank
2013
Sector
Activity
(%) Variao
(%) Variation
Rank
2013
Sector
Activity
13/12
12/11
2,043.07
(97.51)
48.25
(53.52)
25.76
(21.93)
18.75
(8.66)
(11.50)
Servios / Services
(17.26)
Comrcio / Commerce
(28.01)
(44.95)
(70.99)
(170.90)
2012
2012
Anos
Year
(%) Variao
(%) Variation
2013
2012
13/12
Indstria / Industry
79,706,367
105,799,427
(24.66)
38,322,001
35,843,300
6.92
34,822,748
30,943,341
12.54
Servios / Services
26,982,541
26,423,393
2.12
(27.40)
Comrcio / Commerce
10,808,392
10,241,852
5.53
(29.86)
10,653,055
10,607,315
0.43
2,970,014
2,692,360
10.31
(54.64)
1,304,250
797,729
63.50
(33.45)
1,249,781
1,096,372
13.99
Nmero de Trabalhadores / Number of Employees
Rentabilidade do Volume de Negcios / Return on Revenue

Rank
2013
Sector
Activity
Rentabilidade de VN
2012
2013
2012
18.68
20.36
11.73
10.61
7.29
9.12
7.22
0.35
4.17
3.97
Servios / Services
2.89
4.03
2.02
6.41
Comrcio / Commerce
1.17
1.99
(7.42)
12.42
Rentabilidade dos Capitais Prprios / Return on Equity Capital

Rank
2012
Sector
Activity
Ano
Year
% Variao
% Variation
2013
2012
2013
2012
13/12
Servios / Services
22,058
19,656
12.22
12,806
10,136
26.34
8,984
8,091
11.04
7,398
4,657
58.86
7,384
5,594
19.27
5,681
6,387
(11.05)
Comrcio / Commerce
4,629
4,134
11.97
2,664
2,970
(10.30)
1,391
1,265
9.96
Variao do Nmero de Trabalhadores / Variation in the Number of Employees
Sector
Activity
2013
Rank
Rentabilidade dos CP
(%)
Rank
Sector
Activity
2013
2012
48.41
179.95
25.43
18.59
2013
(%) Variao
(%) Variation
13/12
12/11
58.86
14.90
32.00
4.70
26.34
2.22
2012
17.76
16.66
11.88
10.46
Servios / Services
12.22
4.41
8.98
0.48
Comrcio / Commerce
11.97
12.03
Comrcio / Commerce
6.60
9.75
11.04
5.13
9.96
7.48
(10.30)
3.41
(11.05)
18.76
Servios / Services
3.74
5.42
2.34
8.28
(7.35)
8.38
Volume de Negcios por Trabalhador / Revenue per Employee
Liquidez Geral / General Liquidity

Rank
2013
2012
Sector
Activity
Ano
Year
Rank
% Variao
% Variation
2013
2012
13/12
Indstria / Industry
1.8828
1.9728
(4.56)
1.4448
1.5667
(7.78)
1.3886
1.6381
(15.23)
1.0921
1.2041
(9.30)
Servios / Services
1.0210
1.3322
(23.36)
0.8153
0.8487
(3.93)
2013
Sector
Activity
2012
Anos
Year
(%) Variao
(%) Variation
2013
2012
13/12
Comrcio / Commerce
13,225
12,465
6.10
12,153
12,813
(5.15)
4,664
4,571
2.02
3,956
3,370
17.39
2,842
2,921
(2.70)
2,260
2,638
(14.31)
Servios / Services
1,633
1,547
5.58
0.6841
0.8671
(21.11)
Comrcio / Commerce
0.6010
0.6446
(6.75)
1,322
1,066
24.05
0.5642
0.6184
(8.75)
1,080
1,156
(6.51)
para MPDC, SA nova entrada no ranking ocupando dcima

posio com lucro de MZN 639 milhes.
Variao do Volume de Negcios por Trabalhador / Variation in Revenue per Employee

Rank
(%) Variao
(%) Variation
Sector
Activity
2013 2012
13/12
12/11
24.05
9.55
17.39
(0.75)
Comrcio / Commerce
6.10
42.25
Servios / Services
5.58
29.64
2.02
(2.73)
(2.70)
20.78
(5.15)
(14.90)
(6.51)
7.17
(14.31)
2.54
As 10 Maiores Empresas por

Critrios
Esta seco agrega as 10 Maiores Empresas participantes
da pesquisa que se destacaram em funo de cada um
dos indicadores financeiros analisados e, como forma
de observar a sua dinmica e evoluo. Os indicadores
econmico-financeiros analisados nesta seco so:
Activos lquidos;
Capitais prprios;
Resultados lquidos;
Rentabilidade do volume de negcios;
Rentabilidade dos capitais prprios, e;
Nmero de trabalhadores.
Na presente edio, a Vale Moambique, SA lidera o
ranking das 10 Maiores Empresas detendo activos lquidos
na ordem de MZN 105,107 milhes (MZN 81,102 milhes
em 2012), seguida pelo BIM Banco Internacional de
Moambique com MZN 85,428 milhes e pelo Banco
Comercial e de Investimentos, SA com MZN 82,168 milhes.
Em termos agregados, as 10 Maiores Empresas perfazem
um total de MZN 551,821 milhes, representando um
crescimento de 13.22% comparativamente a 2012.
No que concerne aos capitais prprios, no houve nenhuma
alterao para as primeiras trs posies em relao a
edio anterior. A Hidroelctrica de Cahora Bassa, SARL
com MZN 43,240 milhes, a Mozal, SARL com MZN
38,077 milhes, e os CFM Portos e Caminhos de Ferro
de Moambique, E.P. com MZN 26,992 milhes lideram o
ranking das 10 Maiores Empresas para este critrio. Importa
realar a entrada de duas novas empresas para este ranking
nomeadamente asTelecomunicaes de Moambique, SA
ocupando a oitava posio e as Cervejas de Moambique
que ocupa a dcima e ltima posio.
Os resultados lquidos das 10 Maiores Empresas
participantes na pesquisa perfazem um total de MZN 17,395
milhes, valor superior aos MZN 16,475 milhes registados
em 2012 (crescimento na ordem de 5.58%). O destaque vai
The Top 10 companies by criteria

This section calculates, from the companies
participating in the survey, the Top 10 companies for
each of the financial indicators in order to observe
dynamics and change.
The economic and financial indicators analysed in this
section are:
Net assets;
Shareholders equity;
Net profits;
Return on revenue;
Return on equity, and;
Number of employees.
In this edition Vale Mozambique, SA leads the ranking
of the Top 10 companies with net assets of MZN
105,107 million (MZN 81,102 million in 2012), followed
by the BIM-Banco Internacional de Mozambique
with MZN 85,428 million and by Banco Comercial e
de Investimentos, SA with MZN 82,168 million. In
aggregate terms the Top 10 companies have net assets
totaling MZN 551,821 million representing growth of
13.22% compared to 2012.
Turning to shareholders equity, there has been no
change to the first three positions from the previous
edition; Hidroelctrica de Cahora Bassa, SARL with
MZN 43,240 million, Mozal, SARL with MZN 38.077
million, and CFM-Portos e Caminhos de Ferro de
Mozambique, E.P. with MZN 26.992 million lead
the ranking of the Top 10 largest companies for this
criterion. The entry of two new companies in this
ranking Telecomunicaes de Moambique, SA in eighth
position and Cervejas de Moambique which occupies
tenth and last position should be noted.
No que concerne a rentabilidade do volume de negcios,

o ranking das 10 maiores empresas foi marcado pela
entrada de trs (3) novas empresas,Terminal de Carvo da
Matola, Lda que ocupa a primeira posio com uma taxa
de 49.00%, LETSHEGO, SA e Cornelder de Moambique,
SA que ocupam a stima e oitava posies com taxas de
33.08% e 31.58%, respectivamente.
No indicador referente a rentabilidade dos capitais
prprios, o ranking das 10 maiores empresas foi
marcado por alteraes, de destacar a entrada de
cinco (5) novas empresas e a alterao na liderana
do ranking. A primeira posio foi ocupada pela Cowi
Moambique, Lda nova entrada com uma taxa de 104%.
Importa destacar as subidas no ranking da Mota-Engil,
SA e Corredor de Desenvolvimento do Norte, SARL
que saram da quarta e oitava posies em 2012 para
segunda e quartas posies, respectivamente.
As 10 maiores empresas empregaram um total de
41,365 trabalhadores (36,700 em 2012). A semelhana da
edio anterior, este ranking liderado pela G4S Security
Services Moambique, Lda e CFM, E.P com 13,911 e
5,656 trabalhadores empregues, respectivamente. A
Mozambique LeafTobacco, Lda com 5,324 trabalhadores
empregues, a EDM, E.P com 3,493 e C.M.C. frica Austral,
Lda com 2,400 trabalhadores ocupam a terceira, quarta e
quinta posies, respectivamente. De destacar tambm
a vale Moambique, SA e CETA, SA, novas entradas no
ranking ocupando a stima e oitava posies com 2,324 e
2,188 trabalhadores empregues.
Quanto a produtividade do trabalho, medido pelo rcio
volume de negcios por trabalhador, a Motraco, SARL
continua a liderar o ranking com um rcio de MZN 1,230
milhes, seguida pela Globe Musica, Lda e pela Companhia
Moambicana de Hidrocarbonetos, SA com 121 milhes e
MZN 106 milhes, respectivamente.
As tabelas apresentadas a seguir permitiro uma anlise
mais detalhada dos critrios acima expostos.
The net profits of the top 10 companies in the survey make

up a total of MZN 17.395 million, increasing from the MZN
16.475 million recorded in 2012 (growth of 5.58%). MPDC,
SA is a new entry in the ranking occupying tenth position
with a profit of MZN 639 million.
Regarding return on turnover, the ranking of the Top 10
companies was marked by the entry of 3 new companies,
the Matola Coal Terminal, Lda that occupies first position
with a 49.00% rate and LETSHEGO, SA and Cornelder de
Moambique, SA which occupy seventh and eighth positions
with 33.08% and 31.58% respectively.
For the indicator return on equity, the Top 10 companies
ranking has seen changes, highlighted is the entry of five
(5) new businesses and the change in leadership of the
ranking. First position is occupied by Cowi Moambique,
Lda a new entry with a rate of 104%. Other noteworthy
changes are the climb in the rankings of Mota-Engil, SA
and Corredor de Desenvolvimento do Norte, SARL rising
from fourth and eighth positions in 2012 to second and
fourth positions respectively.
The top 10 companies employed a total of 41,365
employees (36,700 in 2012). As in the previous edition this
ranking is headed by G4S Security Services Moambique,
Lda and CFM, E.P. with 13,911 and 5,656 workers
employed respectively. Mozambique Leaf Tobacco Lda
with 5,324 employees, the EDM, E.P. with 3,493 and
C.M.C frica Austral Lda with 2.400 employees occupy
third, fourth and fifth positions. Also highlighted are Vale
Mozambique, SA and CETA SA, new entries in the ranking
in seventh and eighth positions with 2.324 and 2.188
employees respectively.
For labour productivity, measured by the revenue per
employee ratio, Motraco, SARL continues to lead the ranking
with a ratio of MZN 1.230 million, followed by Globe Musica,
Lda and the Companhia Mombicana de Hidrocarbonetos,
SA with MZN 121 million and MZN 106 million respectively.
The tables presented below will allow a more detailed
analysis of the criteria above.
As 10 Maiores por ordem dos Activos / Top 10 Companies per Order of Net Assets
Rank
2013
Empresa
Company
2012
Ranking Geral
Activo Lquido / Net Assets

(10 3 Meticais)
2013
2013
2012
% 13/12
105,106,630
81,101,999
29.60
10
85,428,239
70,646,624
20.92
19
82,167,820
68,094,227
20.67
56,597,935
58,044,628
(2.49)
48,044,000
46,400,000
3.54
44,063,370
42,400,315
3.92
43,578,153
38,516,805
13.14
40,764,353
37,947,610
7.42
11
24,433,611
21,364,186
14.37
21,636,432
22,874,155
(5.41)
Vale Moambique, SA
n.a
18
Hidroelctrica de Cahora Bassa, SARL
Mozal, SARL
19
20
EDM - Electricidade de Moambique, E.P.
CFM - Portos e Caminhos de Ferro de Moambique, E.P.
13
Sasol PetroleumTemane, Lda
10
22
C.M.C. Africa Austral, Lda
25
Standard Bank, SARL
As 10 Maiores por ordem de Capitais Prprios / Top 10 Companies per Order of Equity
Rank
Empresa
Company
2013
2012
Ranking Geral
As 10 Maiores por ordem da Rentabilidade dos Capitais Prprios / Top 10 Companies per Order of Return on Equity
Rank
Capitais Prprios
Shareholders Funds
(10 3 Meticais)
2013
2012
n.a
n.a
3.14
6,183,818
6,209,921
5
12
2012
100
104.00
(230.89)
Mota - Engil Eng. Construo frica, SA
13
96.31
134.90
Maputo CarTerminal, Lda
82
79.66
65.91
Corredor de Desenvolvimento do Norte (CDN), SARL
62
74.43
72.54
n.a
EMOCIL , Lda
64
73.05
(460.66)
n.a
Cornelder de Moambique, SA
24
69.10
60.89
9.63
n.a
44
67.09
64.32
5,197,549
19.48
Globe Musica, Lda
32
60.44
137.38
5,590,971
5,140,039
8.77
CMA CGM Mozambique, Lda
51
60.10
118.34
5,328,052
4,934,087
7.98
10
Grindrod Mozambique, Lda
48
60.00
103.96
2013
% 13/12
43,239,608
41,660,405
3.79
Mozal, SARL
38,077,000
38,806,000
(1.88)
26,992,028
25,627,244
5.33
18,532,151
18,394,536
0.75
10
14,238,022
11,988,914
18.76
11
11,893,454
11,531,868
Standard Bank, SARL
20
6,779,501
19
n.a
Cervejas de Moambique, SARL
10
n.a
2012
Ranking Geral
Rank
Resultados Lquidos
Net Prof its
(10 3 Meticais)
G4S Secure Solutions, Lda
Mozambique LeafTobacco, Lda
3,493
3,476
0.49
25
2,400
2,530
(5.14)
10
2,329
2,298
1.35
n.a
Vale Moambique, SA
2,324
1,933
20.23
n.a
CETA - Engenharia e Construes, SA
35
2,188
2,700
(18.96)
8.62
19
2,121
1,906
11.28
8.18
10
n.a
ES Contact Center Moambique (ex.Select Vedior Moambique)
89
1,619
772
109.72
%12/11
10
3,302,890
2,978,404
10.89
11
3,181,682
2,482,085
28.19
2,310,059
3,322,071
(30.46)
1,672,227
1,387,804
20.49
1,425,094
1,523,848
(6.48)
19
1,420,545
1,293,282
9.84
24
1,317,379
843,526
56.18
Standard Bank, SARL
20
1,246,439
1,243,527
0.23
Companhia Moambicana de Hidrocarbonetos, SA
34
879,433
809,670
10
n.a
MPDC - Sociedade de Desenvolvimento do Porto de Maputo, SA
30
639,587
591,246
As 10 Maiores por ordem da Rentabilidade doVolume de Negcios / Top 10 Companies per Order of Return on Revenues
2013
2012
n.a
Rank
Rent. VN. (%)

Prof it/Revenue (%)
Empresa
Company
2013
2012
2013
2012
44
49.00
25.69
Maputo CarTerminal, Lda
82
41.90
35.33
n.a
11
41.24
43.02
10
41.08
39.93
34
39.30
41.13
Matola CargoTerminal, SARL
85
34.70
37.48
n.a
LETSHEGO - Financial Services Mozambique, SA
68
33.08
23.73
n.a
10
Standard Bank, SARL
2013
2013
2012
% 13/12
40
13,911
12,929
7.60
5,656
3,650
54.96
14
5,324
4,506
18.15
10 Maiores por ordem do Volume de Negcios porTrabalhadores / Top 10 Companies per Order of Revenue per Employees
2013
N de Trabalhadores
Employees
2012
Ranking Geral
Ranking Geral
2012
2013
Empresa
Company
Empresa
Company
2013
2013
Rank
Cowi Moambique, Lda
10 Maiores por ordem de Nmero de Trabalhadores / Top 10 Companies per Order of Number of Employees
As 10 Maiores por ordem dos Resultados Lquidos / Top 10 Companies per Order of Net Results
2013
Rent. C.P. (%)

S / hsFunds (%)
2013
2013
Empresa
Company
Ranking Geral
2013
2013
Rank
Empresa
Company
Ranking Geral
VN po Trabalhador
(10 3 Meticais)
2013
2013
2012
%13/12
MOTRACO, SARL
1,229,660
1,315,003
(6.49)
Globe Musica, Lda
32
121,287
318,397
(61.91)
34
106,546
100,942
5.55
28
94,575
94,885
(0.33)
Total Moambique, SARL
16
71,829
59,050
21.64
48
61,592
78,231
(21.27)
Petrogal Moambique, Lda
15
53,070
39,884
33.06
31,703
29.78
24
31.58
25.82
11
41,144
19
27.36
29.59
BP Moambique, Lda
17
39,910
40,310
(0.99)
20
27.18
28.75
10
10
33,350
30,520
9.27
PETROMOC - Petrleos de Moambique, SA
Ranking das 100 Maiores

Empresas, Mdias e
Pequenas Empresas de
Moambique em Meticais
Ranking for the Top 100
Companies, Medium
and Small Companies
in Mozambique in
Meticais
Nota: Notem que os dados das 100 Maiores, para alguns casos, no seguem a lgica normal
de clculo financeiro (tanto relativo a Mapa de Demonstraes de Resultados assim como
do Balano), por exemplo: se deduzirmos os Custos Operacionais ao Volume de Negcios,
o resultado deveria ser igual ao Resultado antes do imposto, mas isto no acontece. Este
tipo de situaes fundamentado pelas empresas participantes de acordo com a sua
especificidade. Um exemplo destas situaes acontece quando as empresas vem gerindo
prejuzos de exerccios anteriores e por isso tm que deduzir dos lucros obtidos em
anos seguintes esses mesmos prejuzos. Um outro exemplo resulta de outros Custos,
como Custos ou Proveitos Financeiros que no se encontram inclusos nos Custos
Operacionais que podem influenciar o Resultado antes dos Impostos.
Os dados apresentados na pesquisa podero diferir de uma edio para outra,
devido ajustamentos resultantes de auditorias realizadas pelas empresas
aps o envio dos questionarios.
Note: The Top 100 data, for some cases, doesnt follow the normal logic of financial
calculation (both on Income Statements and Balance Sheet), for example, if we deduct
the operating costs of turnover, the result should be equal to Income before tax, but
this does not happen in all cases presented in the Top 100 list. This type of situation
is substantiated by the participating companies according to their business line
specificity. An example of these situations happens when companies are managing
losses from previous years and therefore have to be deducted from profits in
the following years. Another example is related to the other costs item, such
as financial income or costs that are not included in Operating Costs that may
influence to some extent the result before tax.
The data presented in the survey may differ from one edition to
another, due to adjustments resulting from audits performed by
companies after sending questionnaires.
Rank
Rank
Empresa
Empresa
Company
Company
Sector
Sector
dede
Actividade
Actividade
Activity
Activity
2013
2013 2012
2012
Vol.
Vol.
dede
Neg.
Neg.
Revenues
Revenues
3 3
(10
(10
Meticais)
Meticais)
2013
2013
2012
2012 %13/12
%13/12
Resultados
Resultados
Lquidos
Lquidos
Net
Net
Profits
Profits
3 3
(10
(10
Meticais)
Meticais)
2013
2013
2012
2012 %13/12
%13/12
Resultados
Resultados
Antes
Antes
dos
dos
Impostos
Impostos
Income
Income
Before
Before
Taxes
Taxes
3 3
(10
(10
Meticais)
Meticais)
2013
2013
2012
2012 %13/12
%13/12
Activo
Activo
Lquido
Lquido
Net
Net
Assets
Assets
3 3
(10
(10
Meticais)
Meticais)
2013
2013
2012
%13/12
2012
%13/12
Activo
Activo
Corrente
Corrente
Current
Current
Assets
Assets
3 3
(10
(10
Meticais)
Meticais)
2013
2013
2012
%13/12
2012
%13/12
1 1
SARL
1 1 Mozal,
Mozal,
SARL
Indstria
Indstria
32,261,000
(1,026.53)
32,261,00034,640,000
34,640,000 (6.87)
(6.87)(3,312,000)
(3,312,000) (294,000)
(294,000)
(1,026.53) (3,312,000)
(3,312,000) (294,000)
(294,000)(1,026.53)
(1,026.53)
48,044,000
48,044,00046,400,000
46,400,000 3.54
3.54 10,806,000
10,806,00010,701,000
10,701,000 0.98
0.98
2 2
- Petrleos
dede
Moambique,
SASA
2 2 PETROMOC
PETROMOC
- Petrleos
Moambique,
Comrcio
Comrcio
18,826,026
18,826,026 16,801,308
16,801,308
15,400,283
,660
15,400,283 12,267
12,267
,660 25.54
25.54 8,800,230
8,800,230 6,628,561
6,628,561 32.76
32.76
Indstria
Indstria
11,460,892
,245)
(15,903,465)
11,460,892 8,068,955
8,068,955 42.04
42.04 (11,617
(11,617
,245)
(15,903,465)
3 3
Moambique,
SASA
n.an.a Vale
Vale
Moambique,
12.05
12.05
(95,030)
(95,030) (252,079)
(252,079)
62.30
62.30
(135,617)
(135,617) (322,356)
(322,356)
26.95
26.95 (14,273,441)
(14,273,441)(17,061,145)
(17,061,145)
57.93
57.93
16.34
16.34 105,106,630
105,106,63081,101,999
81,101,999 29.60
29.60 23,582,657
23,582,65716,476,293
16,476,293 43.13
43.13
Passivo
Passivo
Total
Total
Total
Total
Liabilites
Liabilites
3 3
(10
(10
Meticais)
Meticais)
2013
2013
%13/12
2012%13/12
2012
31.24
7,594,000 31.24
9,966,000
9,966,000 7,594,000
Passivo
Passivo
Corrente
Corrente
Current
Current
Liabilities
Liabilities
3 3
(10
(10
Meticais)
Meticais)
2013
2013
%13/12
2012%13/12
2012
9,821,000 6,271,000
56.61
6,271,000 56.61
9,821,000
11,208,554 8,892,498
30.31 11,208,554
26.05
10,647
,363 30.31
8,892,498 26.05
13,875,016
13,875,01610,647
,363
36.16
98,522,704 36.16
134,144,579
134,144,57998,522,704
Capitais
Capitais
Prprios
Prprios
Shareholdersfunds
Shareholdersfunds
3 3
(10
(10
Meticais)
Meticais)
2013
2013
2012%13/12
%13/12
2012
Custos
Custos
Operacionais
Operacionais
Operating
Operating
Cost
Cost
3 3
(10
(10
Meticais)
Meticais)
2013
2013
%13/12
2012%13/12
2012
38,806,000 (1.88)
38,077
,00038,806,000
33,836,000
35,046,00033,836,000
(1.88) 35,046,000
38,077
,000
Rent
Rent
VN
VNRent.
Rent.
A.A.
Liq.
Liq. Rent.
Rent.
C.C.
P. P. Liquidez
Liquidez
Profits/
Profits/ Rent.
Rent.
Net
Net S/hs
S/hs
Funds
Funds
Geral
Geral
Revenue
Revenue
Asset
Asset
(%)
(%)
Current
Current
(%)
(%)
(%)
(%)
Ratio
Ratio
2012 2013
2012
2013 2012
2012 2013
2013 2012
2013
2013 2012
3.58 (10.27)
(0.85) (6.89)
(0.73)
(10.27) (0.85)
(0.63) (8.62)
(8.62) (0.73)
3.58
(6.89) (0.63)
1,620,297 (5.86)
14.10
1,525,267 1,620,297
15,832,569 14.10
18,064,35115,832,569
(5.86) 18,064,351
1,525,267
(1.50) (0.62)
(14.38)
(0.50) (1.50)
(2.05) (6.04)
(6.04)(14.38)
(0.50)
(0.62) (2.05)
6,513,722 8,633,962
(17,420,705)(66.69)
37.98 (101.36)
(29,037
,949)(17,420,705)
14,471,261 37.98
(24.56) (29,037
19,967
,12014,471,261
(197
.09) (11.05)
182.58
8,633,962 (24.56)
(66.69) 19,967
(101.36)
(19.61) 50.01
50.01182.58
6,513,722
,949)
,120
(197
.09)
(11.05)(19.61)
NNTrabalhadores
Trabalhadores
VN
VN
por
por
Trabalhador
Trabalhador
NN
ofof
Employees
Employees Revenue
Revenue
per
per
Employee
Employee
%13/12
2012%13/12
2013 2012
2012 2013
2013
2013 2012
(3.67)
1,281 (3.67)
1,234 1,281
1.71 1,234
1.10
1.10 1.71
0.75
0.79
0.79 0.75
604
604
15.05
525 15.05
525
2013
2013
%13/12
2012%13/12
2012
25,655 26,544
(3.35)
26,544 (3.35)
25,655
33,350 30,520
30,520
33,350
Novos
Novos
investimentos
investimentos
realizados
realizados
New
New
Investment
Investment
released
released
3 3
(10(10
Meticais)
Meticais)
2013
2013
2012 %13/12
%13/12
2012
588,000 (18.88)
(18.88)
477
477
,000
,000 588,000
9.27 1,253,661
966,760 29.68
29.68
9.27
1,253,661 966,760
20.23
1,933 20.23
2,324 1,933
1.91 2,324
3.62
3.62 1.91
5,384
5,384
(35.50) 17,199,174
8,349 (35.50)
16,512,235
8,349
17,199,17416,512,235
4.16
4.16
43,578,153
43,578,15338,516,805
38,516,805 13.14
13.14 5,584,970
5,584,970 4,864,662
4,864,662 14.81
14.81
24.47
20,122,269 24.47
25,046,002
25,046,00220,122,269
5,446,350 4,340,882
25.47
4,340,882 25.47
5,446,350
18,394,536
18,532,15118,394,536
18,532,151
0.75
0.75
17.71
8,356,614 17.71
9,836,686 8,356,614
9,836,686
1.20 (0.16)
0.69
(0.67) 1.20
0.27 (0.37)
(0.37) 0.69
(0.67)
(0.16) 0.27
3,476
3,493 3,476
1.12 3,493
1.03
1.03 1.12
0.49
0.49
2,929
2,929
12.93 4,659,770
2,594 12.93
3,775,273 23.43
23.43
2,594
4,659,770 3,775,273
9,303,810
9,303,810 7,754,453
7,754,453 19.98
19.98 2,485,442
2,485,442 2,364,943
2,364,943 5.10
5.10
42.01
2,614,414 42.01
3,712,838
3,712,838 2,614,414
3,712,838 2,614,414
42.01
2,614,414 42.01
3,712,838
5,140,039
5,590,971 5,140,039
5,590,971
8.77
8.77
10.41
1,772,060 10.41
1,956,472 1,772,060
1,956,472
16.82 15.32
32.24
14.47 16.82
19.65 26.56
26.5632.24
14.47
15.32 19.65
(12.87)
1,274 (12.87)
1,110 1,274
0.90 1,110
0.67
0.67 0.90
8,265
8,265
7,651
7,651
9,343,015
9,343,01510,079,096
10,079,096 (7.30)
(7.30)
(18.47)
16,384,223 (18.47)
13,358,327
13,358,32716,384,223
3,783,922 2,582,269
46.53
2,582,269 46.53
3,783,922
38.50 4.08
25.36 38.50
5.72
25.36
4.08 5.72
8.21
5.44 8.21
5.44
3.90
2.47
2.47 3.90
712
712
659
659
4,148,665
4,148,665 4,112,463
4,112,463 0.88
0.88 1,488,049
1,488,049 1,480,325
1,480,325 0.52
0.52
(5.10)
2,002,195 (5.10)
1,900,080
1,900,080 2,002,195
2.54 5.85
11.75
2.82 2.54
5.68 11.13
11.13 11.75
2.82
5.85 5.68
5.92
1.68
1.68 5.92
7 7
7 7
4 4
- Electricidade
dede
Moambique,
E.PE.P
. .
7 7 EDM
EDM
- Electricidade
Moambique,
Servios
Servios
10,205,956
10,205,956 8,723,552
8,723,552
5 5
dede
Moambique,
SARL
4 4 Cervejas
Cervejas
Moambique,
SARL
Indstria
Indstria
9,851,983
9,851,983 9,062,322
9,062,322
6 6
dede
Cahora
Bassa,
SARL
6 6 Hidroelctrica
Hidroelctrica
Cahora
Bassa,
SARL
Indstria
Indstria
9,110,774
9,110,774 8,629,212
8,629,212
7 7
SARL
3 3 MOTRACO,
MOTRACO,
SARL
Servios
Servios
8,607
,617
8,607
,617 9,205,023
9,205,023 (6.49)
(6.49)
8 8
- Portos
e Caminhos
dede
Ferro
dede
Moambique,
E.PE.P
. .
9 9 CFM
CFM
- Portos
e Caminhos
Ferro
Moambique,
Transportes
e Armazenagem
Transportes
e Armazenagem
8,272,802
,804
8,272,802 6,649,948
6,649,948 24.40
24.40 1,672,227
1,672,227 1,387
1,387
,804
9 9
- Moambique
Celular,
SASA
5 5 mCel
mCel
- Moambique
Celular,
Comunicaes
Comunicaes
8,192,669
8,192,669 9,014,153
9,014,153
- Banco
Internacional
dede
Moambique,
SASA
8 8 BIM
BIM
- Banco
Internacional
Moambique,
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
8,039,551
8,039,551 7,459,047
7,459,047
7.78
7.78 3,302,890
3,302,8902,978,404
2,978,404
10.89
10.89 3,894,916
3,894,916 3,501,704
3,501,704
11.23
11.23
85,428,239
85,428,23970,646,624
70,646,624 20.92
20.92 45,305,898
45,305,89839,554,787
39,554,787 14.54
14.54
68,096,999 55,617
21.37 68,096,999
22.44
58,657
,710 21.37
55,617
,772 22.44
71,190,217
71,190,21758,657
,710
,772
Petroleum
Temane,
Lda
1313 Sasol
Sasol
Petroleum
Temane,
Lda
Indstria
Indstria
7,714,506
7,714,506 5,769,993
5,769,993 33.70
33.70 3,181,682
3,181,6822,482,085
2,482,085
28.19
28.19 4,681,921
4,681,921 3,654,348
3,654,348
28.12
28.12
24,433,611
24,433,61121,364,186
21,364,186 14.37
14.37
7,071,732
7,071,732 5,229,646
5,229,646 35.22
35.22
14.82
9,832,318 14.82
11,289,734
11,289,734 9,832,318
1212
Holdings,
SASA
1111 Intelec
Intelec
Holdings,
Servios
Servios
7,222,024
7,222,024 5,853,024
5,853,024 23.39
23.39
399,409
399,409 438,966
438,966
(9.01)
(9.01)
864,816
864,816 359,802
359,802 140.36
140.36
8,669,116
8,669,116 7,163,468
7,163,468 21.02
21.02
2,627
,354
2,627
,354 2,465,121
2,465,121 6.58
6.58
1313
- Engil
Eng.
Construo
frica,
SASA
1717 Mota
Mota
- Engil
Eng.
Construo
frica,
Construo
Construo
6,699,685
6,699,685 7,282,728
7,282,728
(8.01)
(8.01)
474,190
474,190 189,930
189,930 149.67
149.67
685,098
685,098 215,440
215,440 218.00
218.00
6,780,794
6,780,794 4,381,177
4,381,177 54.77
54.77 6,438,454
6,438,454 4,249,698
4,249,698 51.50
51.50
1414
Leaf
Tobacco,
Lda
1010 Mozambique
Mozambique
Leaf
Tobacco,
Lda
Agricultura
e Pescas
Agricultura
e Pescas
6,508,039
6,508,039 5,868,252
5,868,252
10.90
10.90
428,139
428,139 234,109
234,109
82.88
82.88
428,139
428,139 234,109
234,109
82.88
82.88
4,397
,230
4,397
,230 3,510,401
3,510,401 25.26
25.26 2,705,668
2,705,668 2,238,514
2,238,514 20.87
20.87
16.27
2,820,001 16.27
3,278,691
3,278,691 2,820,001
2,013,606 1,335,041
50.83
1,335,041 50.83
2,013,606
690,400 62.01
1,118,539 690,400
62.01
1,118,539
1515
Moambique,
Lda
1616 Petrogal
Petrogal
Moambique,
Lda
Comrcio
Comrcio
6,076,548
6,076,548 4,646,508
4,646,508 30.78
30.78
132,486
132,486 124,096
124,096
6.76
6.76
232,341
232,341
178,117
178,117
30.44
30.44
2,619,660
,560
2,619,660 1,827
1,827
,560 43.34
43.34 2,108,907
2,108,907 1,335,927
1,335,927 57.86
57.86
59.30
1,112,389 59.30
1,772,004
1,772,004 1,112,389
1,772,004 1,112,389
59.30
1,112,389 59.30
1,772,004
715,171 18.52
847
,656 715,171
18.52
847
,656
32.86
4,388,201 32.86
5,830,286 4,388,201
5,830,286
2.67 5.06
17.87
2.18 2.67
6.79 16.95
16.95 17.87
2.18
5.06 6.79
1.20
1.19
1.19 1.20
115115
114114
0.88
0.88
53,070 39,884
33.06
39,884 33.06
53,070
(53.80)
85,375
85,375 184,778
184,778 (53.80)
1616
Moambique,
SARL
1414 Total
Total
Moambique,
SARL
Comrcio
Comrcio
6,033,647
6,033,647 4,723,996
4,723,996
226,853
226,853 348,219
348,219 (34.85)
(34.85)
405,362
405,362
511,159
511,159 (20.70)
(20.70)
3,034,772
,913
3,034,772 3,087
3,087
,913 (1.72)
(1.72) 1,348,993
1,348,993 1,415,651
1,415,651 (4.71)
(4.71)
1,664,362
1,715,176
1,715,176 1,664,362
3.05
3.05
1,700,404 1,334,399
27.43
1,334,399 27.43
1,700,404
1,423,551 (7.30)
1,319,596 1,423,551
(7.30)
1,319,596
32.42
4,161,912 32.42
5,511,148 4,161,912
5,511,148
7.37
3.76 7.37
3.76
1.06
0.79
0.79 1.06
8686
8282
4.88
4.88
71,829 59,050
21.64
59,050 21.64
71,829
79.70
532,315
532,315 296,224
296,224 79.70
4,129,910
4,129,910 3,938,809
3,938,809 4.85
4.85
20.01
1,428,011 20.01
1,713,794
1,713,794 1,428,011
1,713,794 1,428,011
20.01
1,428,011 20.01
1,713,794
2,406,269 (4.69)
2,293,422 2,406,269
(4.69)
2,293,422
5,429,111
5,944,670 5,429,111
5,944,670
1.67
1.36
1.36 1.67
150
150
150
150
0.00
0.00
39,910 40,310
(0.99)
40,310 (0.99)
39,910
(19.24)
509,096
509,096 630,387
630,387 (19.24)
0.87
0.86
0.86 0.87
735
735
711711
3.38
3.38
7,327
7,327
10.33
6,641 10.33
6,641
209,566
209,566 225,661
225,661
(7.13)
(7.13)
11.28
1,906 11.28
2,121 1,906
1.21 2,121
0.84
0.84 1.21
2,578
2,578
2,422
2,422
6.44
6.44
698,296
698,296 591,120
591,120
18.13
18.13
1010
1111
16.99
16.99
(68,180)
(68,180) 104,524
104,524 (165.23)
(165.23)
8.71
8.71 1,425,094
1,425,0941,523,848
1,523,848
5.58
5.58 2,310,059
2,310,0593,322,071
3,322,071 (30.46)
(30.46)
(9.11)
(9.11)
27.72
27.72
242,655
242,655 233,555
233,555
52,257
52,257 299,286
299,286 (82.54)
(82.54)
(6.48)
(6.48) 2,093,551
2,093,551 2,149,664
2,149,664
3.90
3.90
(2.61)
(2.61)
3,487
,553
3,487
,553 1,581,579
1,581,579 120.51
120.51
272,119
272,119
4.25
4.25
20.49
20.49 2,481,946
2,481,946 1,913,005
1,913,005
29.74
29.74
178,665
178,665 688,092
688,092 (74.03)
(74.03)
283,677
283,677
83,133
83,133
743,345
743,345 (88.82)
(88.82)
56,597
,935
56,597
,93558,044,628
58,044,628 (2.49)
(2.49)
40,764,353
,610
40,764,353 37,947
37,947
,610
7.42
7.42
7,681,048
7,681,048 8,542,352
8,542,352(10.08)
(10.08)
14,690,252
,407
14,690,25212,571,621
12,571,621 16.85
16.85 3,065,244
3,065,244 3,797
3,797
,407(19.28)
(19.28)
41,660,405
43,239,60841,660,405
43,239,608
3.79
3.79
17.63
5,850,304 17.63
6,881,845 5,850,304
6,881,845
253.98
250,117 253.98
250,117
2,110,268
2,248,586 2,110,268
2,248,586
6.55
6.55
(3.51)
8,475,710 (3.51)
8,178,624 8,475,710
8,178,624
8.41
8.41
3,318,756 2,677
23.94
2,677
,715 23.94
3,318,756
,715
25,627
,244
26,992,02825,627
26,992,028
,244
5.33
5.33
15.05
5,560,228 15.05
6,396,850 5,560,228
6,396,850
28.35
7,327
,937 28.35
9,405,222
9,405,222 7,327
,937
5,523,623 4,574,938
20.74
4,574,938 20.74
5,523,623
5,243,983
5,285,030 5,243,983
5,285,030
0.78
0.78
9,642,651
10,453,569
10,453,569 9,642,651
885,353
885,353
11,531,868
11,893,45411,531,868
11,893,454
3.14
3.14
42.58
1,985,004 42.58
2,830,309 1,985,004
2,830,309
43.02 13.02
23.29
41.24 43.02
11.62 27.16
27.1623.29
41.24
13.02 11.62
3.76
3.48
3.48 3.76
182
182
6.04
6.04
49.87
2,229,381 49.87
3,341,063
3,341,063 2,229,381
3,037
,366 2,178,757
39.41
2,178,757 39.41
3,037
,366
4,934,087
5,328,052 4,934,087
5,328,052
7.98
7.98
17.11
5,377
,881 17.11
6,298,096 5,377
6,298,096
,881
46.67
4,125,918 46.67
6,051,345
6,051,345 4,125,918
5,965,281 4,125,918
44.58
4,125,918 44.58
5,965,281
255,259185.77
14.90
729,449 255,259
(7,067
,288) 14.90
(6,014,587) (7,067
185.77 (6,014,587)
729,449
,288)
1919
Comercial
e de
Investimentos
(BCI),
SASA
1818 Banco
Banco
Comercial
e de
Investimentos
(BCI),
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
5,191,286
5,191,286 4,371,027
4,371,027 18.77
18.77 1,420,545
1,420,5451,293,282
1,293,282
2020
Bank,
SARL
1919 Standard
Standard
Bank,
SARL
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
4,585,240
4,585,240 4,325,977
4,325,977
5.99
5.99 1,246,439
1,246,4391,243,527
1,243,527
2121
dede
Moambique,
SASA
2020 Cimentos
Cimentos
Moambique,
Indstria
Indstria
4,506,316
4,506,316 4,050,438
4,050,438
11.26
11.26
2222
- Empresa
Moambicana
dede
Seguros,
SASA
3131 Emose
Emose
- Empresa
Moambicana
Seguros,
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
4,340,000
4,340,000 1,951,000
1,951,000 122.45
122.45
149,000
149,000
2323
Sabco
(Moambique),
SASA
2121 Coca-Cola
Coca-Cola
Sabco
(Moambique),
Indstria
Indstria
4,320,590
4,320,590 3,895,490
3,895,490
10.91
10.91
532,216
532,216 486,525
486,525
2424
dede
Moambique,
SASA
2323 Cornelder
Cornelder
Moambique,
Transportes
e Armazenagem
Transportes
e Armazenagem
4,171,989
4,171,989 3,266,935
3,266,935
27.70
,379
27.70 1,317
1,317
,379 843,526
843,526
2525
Africa
Austral,
Lda
2222 C.M.C.
C.M.C.
Africa
Austral,
Lda
Construo
Construo
3,633,430
3,633,430 3,658,150
3,658,150 (0.68)
(0.68)
(57(57
,986)
,986)
26,542
26,542 (318.47)
(318.47)
(16,248)
(16,248)
(9,119)
(9,119) (78.18)
(78.18)
21,636,432
21,636,43222,874,155
22,874,155 (5.41)
(5.41)
5,360,117
5,360,117 8,890,507
8,890,507(39.71)
(39.71)
2626
Freight
Services
(Mo),
SASA
2525 Manica
Manica
Freight
Services
(Mo),
Transportes
e Armazenagem
Transportes
e Armazenagem
3,393,796
3,393,796 2,835,826
2,835,826
19.68
19.68
10,201
10,201
(7,741)
(7,741) 231.78
231.78
32,810
32,810
3,202
3,202 924.67
924.67
1,562,662
1,562,662 1,578,077
1,578,077 (0.98)
(0.98)
888,732
888,732 1,231,846
1,231,846(27(27
.85)
.85)
2727
dede
Moambique,
SASA
2424 Telecomunicaes
Telecomunicaes
Moambique,
Comunicaes
Comunicaes
3,140,772
3,140,772 3,239,631
3,239,631 (3.05)
(3.05)
52,002
52,002
76,172
76,172 (31.73)
(31.73)
117117
,107
,107
69,133
69,133
69.39
69.39
12,570,842
12,570,84211,088,572
11,088,572 13.37
13.37
4,497
4,497
,821
,821 3,494,814
3,494,814 28.70
28.70
2828
e Sasol,
SASA
2626 Petromoc
Petromoc
e Sasol,
Comrcio
Comrcio
3,026,391
3,026,391 2,609,342
2,609,342
15.98
15.98
55,165
55,165
57,710
57,710
(4.41)
(4.41)
84,319
84,319
71,164
71,164
18.49
18.49
1,275,548
1,275,548
2929
dede
Moambique,
SASA
2727 Toyota
Toyota
Moambique,
Comrcio
Comrcio
2,937
,366
,651
2,937
,366 2,417
2,417
,651
21.50
21.50
126,991
126,991
84,465
84,465
50.35
50.35
196,853
196,853 134,679
134,679
46.16
46.16
2,303,609
2,303,609 2,185,715
2,185,715 5.39
5.39 1,456,420
1,456,420 1,640,258
1,640,258 (11.21)
(11.21)
(5.12)
1,778,036 (5.12)
1,686,932
1,686,932 1,778,036
1,437
,916 1,614,747
(10.95)
1,614,747 (10.95)
1,437
,916
616,677
616,677
407
,679 51.27
51.27
407
,679
3030
- Sociedade
dede
Desenvolvimento
dodo
Porto
dedeMaputo,
SASA Transportes
e Armazenagem
2828 MPDC
MPDC
- Sociedade
Desenvolvimento
Porto
Maputo,
Transportes
e Armazenagem
2,764,549
2,764,549 2,308,068
2,308,068
19.78
19.78
639,587
639,587 591,246
591,246
922,015
922,015 708,578
708,578
30.12
30.12
2,623,742
2,623,742 2,144,856
2,144,856 22.33
22.33 1,429,892
1,429,892 1,271,356
1,271,356 12.47
12.47
(11.54)
1,392,845 (11.54)
1,232,144
1,232,144 1,392,845
1,161,192 1,318,612
(11.94)
1,318,612 (11.94)
1,161,192
1,391,598
1,391,598
3131
Alliance
Seguros,
SASA
3232 Global
Global
Alliance
Seguros,
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
2,470,202
2,470,202 1,800,450
1,800,450
37.20
37.20
122,689
122,689
79,265
79,265
54.78
54.78
181,436
181,436
117117
,521
,521
54.39
54.39
1,669,942
1,669,942 1,066,572
1,066,572 56.57
56.57 1,442,630
1,442,630
64.79
736,510 64.79
1,213,729
1,213,729 736,510
1,137
,783
1,137
,783
67.49
679,321 67.49
679,321
3232
Musica,
Lda
n.an.a Globe
Globe
Musica,
Lda
Comrcio
Comrcio
2,425,746
2,425,746 2,865,570
2,865,570 (15.35)
(15.35)
3,368
3,368
3,041
3,041
10.75
10.75
3,368
3,368
3,041
3,041
10.75
10.75
35.93
23,924 35.93
23,924
32,519
32,519
35.93
23,924 35.93
23,924
3333
Internacional
dede
Moambique
(SIM),
SASA
2929 Seguradora
Seguradora
Internacional
Moambique
(SIM),
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
2,368,000
2,368,000 1,986,000
1,986,000
19.23
19.23
399,000
399,000 392,000
392,000
1.79
1.79
538,000
538,000 534,000
534,000
0.75
0.75
5,569,000
5,569,000 5,145,000
5,145,000 8.24
8.24 5,524,000
5,524,000 5,103,000
5,103,000 8.25
8.25
7.01
7.01
308,000
308,000
163.25
,000 163.25
117117
,000
1,405,000 11.53
1,567
,000 1,405,000
11.53
1,567
,000
3434
Moambicana
dede
Hidrocarbonetos,
SASA
3030 Companhia
Companhia
Moambicana
Hidrocarbonetos,
Indstria
Indstria
2,237
,464
2,237
,464 1,968,365
1,968,365
13.67
13.67
879,433
879,433 809,670
809,670
8.62
8.62 1,306,186
1,306,186 1,182,554
1,182,554
10.45
10.45
10,432,022
10,432,022 8,612,283
8,612,283 21.13
21.13 3,964,542
3,964,542 3,110,914
3,110,914 27.44
27.44
25.41
4,357
,851 25.41
5,465,042
5,465,042 4,357
,851
599,454
599,454
99.09
301,089 99.09
301,089
4,254,432 16.75
4,966,981 4,254,432
16.75
4,966,981
3535
- Engenharia
e Construes,
SASA
n.an.a CETA
CETA
- Engenharia
e Construes,
Construo
Construo
1,996,310
1,996,310 1,495,107
1,495,107 33.52
33.52
100,073
100,073
33,592
33,592 322.88
322.88
3,079,429
3,079,429 2,302,178
2,302,178 33.76
33.76 2,571,678
2,571,678 1,760,613
1,760,613 46.07
46.07
35.73
2,049,857 35.73
2,782,360
2,782,360 2,049,857
3636
Duarte
Engenharia
e Construes
Moambique,
Lda
3737 Teixeira
Teixeira
Duarte
Engenharia
e Construes
Moambique,
Lda
Construo
Construo
1,942,184
,087
1,942,184 1,257
1,257
,087 54.50
54.50
135,377
135,377 159,634
159,634 (15.20)
(15.20)
3737
Lalgy,
Lda
3535 Transportes
Transportes
Lalgy,
Lda
Transportes
e Armazenagem
Transportes
e Armazenagem
1,755,563
1,755,563 1,541,742
1,541,742
13.87
13.87
3838
Lda
3434 Construa,
Construa,
Lda
Comrcio
Comrcio
1,736,554
1,736,554 1,542,872
1,542,872
12.55
12.55
3939
Comercial
dede
Moambique,
SARL
3333 Entreposto
Entreposto
Comercial
Moambique,
SARL
Comrcio
Comrcio
1,497
1,497
,376
,376 1,552,200
1,552,200 (3.53)
(3.53)
43,684
43,684
54,915
54,915 (20.45)
(20.45)
4040
Secure
Solutions,
Lda
3838 G4S
G4S
Secure
Solutions,
Lda
Servios
Servios
1,403,117
1,403,117 1,252,573
1,252,573
82,830
82,830
71,391
71,391
16.02
16.02
131,442
131,442 136,754
136,754
(3.88)
(3.88)
4141
dede
Moambique,
E.PE.P
. .
4343 Aeroportos
Aeroportos
Moambique,
Transportes
e Armazenagem
Transportes
e Armazenagem
1,346,020
1,346,020 1,045,097
1,045,097 28.79
28.79 (167
(167
,560)
,560) (183,739)
(183,739)
8.81
8.81
524,699
524,699 301,725
301,725
73.90
73.90
4242
SARL
4242 Gespetro,
Gespetro,
SARL
Comrcio
Comrcio
1,309,503
1,309,503 1,143,261
1,143,261
14.54
14.54
9,161
9,161
8,769
8,769
4.47
4.47
14,102
14,102
14,176
14,176
(0.52)
(0.52)
4343
Servios
Investimentos
e Trading,
Lda
4040 Servitrade
Servitrade
Servios
Investimentos
e Trading,
Lda
Construo
Construo
1,274,567
1,274,567 1,153,647
1,153,647
10.48
10.48
n.dn.d
n.dn.d
- -
n.dn.d
n.dn.d
- -
2,682,190 2,320,801
2,320,801 15.57
15.57
2,682,190
4444
dede
Carvo
dada
Matola,
Lda
3939 Terminal
Terminal
Carvo
Matola,
Lda
Transportes
e Armazenagem
Transportes
e Armazenagem
1,235,604
1,235,604 1,228,988
1,228,988
0.54
0.54
91.76
91.76
821,783
821,783
443,010
443,010
85.50
85.50
3,192,371 2,370,365
2,370,365 34.68
34.68
3,192,371
4545
Petroleum,
Lda
4747 African
African
Petroleum,
Lda
Comrcio
Comrcio
1,211,762
1,211,762
916,017
916,017 32.29
32.29
18,747
18,747
46.46
46.46
27,570
27,570
15,897
15,897
73.43
73.43
4646
Banco,
SASA
5757 Moza
Moza
Banco,
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
1,197
1,197
,345
,345
599,795
599,795 99.63
99.63
22,252
22,252 (67(67
,379)
,379) 133.03
133.03
4747
Bank
Moambique,
SASA
5050 Barclays
Barclays
Bank
Moambique,
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
1,194,130
1,194,130 1,294,584
1,294,584
4848
Mozambique,
Lda
4848 Grindrod
Grindrod
Mozambique,
Lda
Servios
Servios
1,170,254
1,170,254
4949
dada
Regio
dede
Maputo,
SASA
4646 guas
guas
Regio
Maputo,
Servios
Servios
1,141,140
1,141,140 1,124,317
1,124,317
5050
Moambique,
Lda
4444 Unicomo
Unicomo
Moambique,
Lda
Comrcio
Comrcio
1,093,426
1,093,426
11.87
11.87
10,063
10,063
5151
CGM
Mozambique,
Lda
3636 CMA
CMA
CGM
Mozambique,
Lda
Transportes
e Armazenagem
Transportes
e Armazenagem
1,060,638
1,060,638 1,400,970
1,400,970 (24.29)
(24.29)
31,274
31,274
5252
Moambique
Companhia
dede
Seguros
, SARL
4949 Hollard
Hollard
Moambique
Companhia
Seguros
, SARL
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
12.02
12.02
16,452
16,452
14,843
14,843
681,100
681,100 492,721
492,721
0.38
0.38
44,063,370
44,063,37042,400,315
42,400,315 3.92
3.92 30,335,478
30,335,47831,132,666
31,132,666 (2.56)
(2.56)
36,216,497
37,283,869
37,283,86936,216,497
38.23
38.23
7,883,888
7,883,888 6,403,338
6,403,338 23.12
23.12 3,825,060
3,825,060 2,877
2,877
,288
,288 32.94
32.94
30.14
3,894,645 30.14
5,068,638
5,068,638 3,894,645
229,027
229,027 249,166
249,166
(8.08)
(8.08)
76,656
76,656 109,277
109,277 (29.85)
(29.85)
126,077
126,077
167
167
,260
,260 (24.62)
(24.62)
59,498
59,498
87,492
87,492 (32.00)
(32.00)
247
247
,572
,572 179,180
179,180
17.63
17.63
38.17
38.17
21,123
21,123
9.52
9.52
36,670
36,670 (82,052)
(82,052) 144.69
144.69
(603,228)
(603,228) (732,337)
(732,337)
378,465
378,465
17.63
17.63
269,015
269,015
40.69
40.69
(127
(127
,439)
,439) (144,941)
(144,941)
12.07
12.07
39,236
39,236
28,351
28,351 38.39
38.39
37,404
37,404
26,282
26,282 42.32
42.32
7.43
7.43
4,562
4,562
4,469
4,469
2.09
2.09
48.48
710,564
710,564 478,569
478,569 48.48
8.15
8.15
10,691
10,691
9,915
9,915
7.82
7.82
.04)
16,300
16,300 550,630
.04)
550,630 (97(97
31.59
630,000 31.59
630,000
1,813,000 15.72
2,098,000 1,813,000
15.72
2,098,000
116.11
1,465,000 116.11
3,166,000 1,465,000
3,166,000
3.69
3.43 3.69
3.43
1.31
1.94
1.94 1.31
4.20
7.62 4.20
7.62
1.76
2.20
2.20 1.76
325
325
(1.52)
330 (1.52)
330
13,252
13,252
127
5,824 127
5,824
.54.54
275.00
420,000
420,000 112,000
112,000 275.00
1,459,396 1,014,236
43.89
1,014,236 43.89
1,459,396
1,592,828 26.33
2,012,190 1,592,828
26.33
2,012,190
13.87
3,224,033 13.87
3,671,201 3,224,033
3,671,201
12.49 14.52
32.87
18.06 29.53
12.32 12.49
29.5332.87
12.32
14.52 18.06
1,014
0.76 1,014
0.71
0.71 0.76
10.94
914 10.94
914
4,482
4,482
4,442
4,442
(3.06)
711,336 (3.06)
711,336
1,543,034 47.11
2,269,913 1,543,034
47.11
2,269,913
31.96
2,083,799 31.96
2,749,804 2,083,799
2,749,804
25.82 39.98
60.89
32.93 69.10
31.58 25.82
69.1060.89
31.58
39.98 32.93
2.25
2.94
2.94 2.25
5.89
5.89
7,024
7,024
15.99
6,055 15.99
6,055
490,801
490,801 286,888
286,888
71.08
71.08
(5.41)
21,819,337 (5.41)
20,639,601
20,639,60121,819,337
4,699,413 6,491,234
.60)
6,491,234 (27(27
4,699,413
.60)
1,054,818 (5.50)
996,831 1,054,818
(5.50)
996,831
9.32
9.32
0.73 (0.27)
2.55
0.12 (5.65)
(1.60) 0.73
(5.65) 2.55
(1.60)
(0.27) 0.12
(5.14)
2,530 (5.14)
2,400 2,530
1.37 2,400
1.14
1.14 1.37
227
227
,619
,619 196,914
196,914
15.59
15.59
(3.18)
1,423,381 (3.18)
1,378,160
1,378,160 1,423,381
821,101 1,252,878
(34.46)
1,252,878 (34.46)
821,101
154,696 19.27
184,503 154,696
19.27
184,503
24.39
5,927
,645 24.39
7,373,147
7,373,147 5,927
,645
5,052,314 3,459,724
46.03
3,459,724 46.03
5,052,314
1,018,297
1,024,781
1,024,781 1,018,297
943,682
943,682
32,519
32,519
0.64
0.64
58.00
597
,269 58.00
597
,269
3,740,000
4,002,000
4,002,000 3,740,000
(13.40)
1,914,148 (13.40)
1,657
1,657
,591
,591 1,914,148
1,146,544 1,093,880
1,093,880 4.81
4.81
1,146,544
605,059
605,059
574,422 5.33
5.33
574,422
509,629 43.14
43.14
509,629
689,578
689,578
927
,763
927
,763
62.63
570,466 62.63
570,466
5,160,927
5,197
,695 5,160,927
5,197
,695
0.71
0.71
276,702 19.94
331,867 276,702
19.94
331,867
611611
1,474
1,474
(3.13)
1,522 (3.13)
1,522
9.00
672,089 9.00
672,089
(0.27) 0.65
(0.49)
0.30 (0.27)
0.30
0.65 (0.49)
(7.47
6.01 (7.47
6.01
0.98
1.08
1.08 0.98
44.68
329 44.68
329
8,432
8,432
18.34
7,125 18.34
7,125
13.64
3,064,622 13.64
3,482,769 3,064,622
3,482,769
2.35 0.41
0.69
1.66 2.35
1.66
0.41 0.69
1.48
1.00 1.48
1.00
(0.13)
1,526 (0.13)
1,524 1,526
1.01 1,524
0.89
0.89 1.01
2,060
2,060
(3.97) 1,677
2,145 (3.97)
106.21
2,145
1,677
,048
,048 813,273
813,273 106.21
3,678,563
4,021,343 3,678,563
4,021,343
732,571
732,571
476
476
2.21 4.32
27.17
6.60 18.13
1.82 2.21
18.13 27.17
1.82
4.32 6.60
1.18
1.16
1.16 1.18
3636
3.49 5.51
21.06
3.86 24.79
4.32 3.49
24.79 21.06
4.32
5.51 3.86
1.02
1.01
1.01 1.02
401
401
376
376
6.65
6.65
752,011 85.05
85.05
752,011
23.70
1,565,556 23.70
1,936,574 1,565,556
1,936,574
25.62 24.38
132.23
27.57 59.67
23.14 25.62
59.67132.23
23.14
24.38 27.57
330,062 38.22
456,213 330,062
38.22
456,213
35.99
1,682,929 35.99
2,288,666 1,682,929
2,288,666
6,718
6,718
144,527
144,527
4,427 51.75
15.63
(2,872,371) 15.63
(2,423,410)(2,872,371)
51.75 (2,423,410)
4,427
24.61
1,491,000 24.61
1,858,000 1,491,000
1,858,000
26.90
4,392 26.90
4,392
- -
475
475
8.84
8.84
8787
6.90
6.90
25.77
21,824 25.77
27,447 21,824
27,447
1,102
1,102
(32.60)
1,635
1,635 (32.60)
0.11 8.58
137
0.14 0.11
60.44137
10.73 60.44
0.14
8.58 10.73
.38.38
1.10
1.15
1.15 1.10
2222
22.22
1818 22.22
(61.91)
318,397 (61.91)
121,287 318,397
121,287
700
700
929.41
6868 929.41
19.23
13,556 19.23
16,164 13,556
16,164
0 0
2222
2,657
,586 1,907
39.30
1,907
,748 39.30
2,657
,586
,748
252,321 17.73
(26.87)
297
,069 252,321
(1,461,515)(26.87)
(1,854,258)(1,461,515)
17.73 (1,854,258)
297
,069
2.10 3.25
24.84
5.01 2.10
36.4324.84
1.36 36.43
5.01
3.25 1.36
1,657
,591 1,913,088
(13.36)
1,913,088 (13.36)
1,657
,591
900,387
900,387
765,010 17.70
17.70
765,010
1,496.63
1,073,354
17,137
,475 1,073,354
17,137
,475
1,496.63
12.70 5.29
23.30
6.97 12.70
16.2623.30
5.96 16.26
6.97
5.29 5.96
1.23
1.23
1.23 1.23
190,560
190,560
174,107
174,107
9.45
9.45
32.83
1,181,836 32.83
1,569,870 1,181,836
1,569,870
0.96
0.94 0.96
0.94
8.90
9.02 8.90
9.02
0.57
0.62
0.62 0.57
918,548
995,204 918,548
995,204
8.35
8.35
17.07
1,375,612 17.07
1,610,476 1,375,612
1,610,476
7.08 6.69
4.41 7.08
4.41
6.69 9.99
9.99
12.65
8.01 12.65
8.01
843,513
849,813 843,513
849,813
0.75
0.75
1,518,842 (5.22)
1,439,554 1,518,842
1,439,554
(5.22)
3.54
2.92 3.54
2.92
7.11
5.16 7.11
5.16
5.70 8.28
71.34
5.90 5.70
50.59 71.34
5.90
8.28 7.96
7.96 50.59
(75.36)
141,319 (75.36)
141,319
5,574
5,574
n.dn.d
25.06
31,447
31,447 25.06
9393
147
147
34,815
34,815
39,329
39,329
6,801
6,801
517
517
10.33
6.61
6.61 10.33
1,596,956 1,520,470
1,520,470
1,596,956
n.dn.d
11.18
11.18
7,561
7,561
- -
1.25
1.27
1.27 1.25
43.62
17.94
17.9443.62
9.09
9.09
(0.33)
94,885 (0.33)
94,575 94,885
94,575
n.dn.d
0.96
1.23
1.23 0.96
29.63
26.8529.63
7.62 26.85
7.16
7.16 7.62
758,990
758,990
n.dn.d
30.65
31.2130.65
7.43 31.21
7.35
7.35 7.43
4.40
4.97 4.40
4.97
41.13 8.43
21.82
39.30 41.13
19.07 21.82
9.40 19.07
39.30
8.43 9.40
856,331
856,331
28.57
2828 28.57
20.39
120,053 20.39
120,053
21.10
2,255,321 21.10
2,731,102 2,255,321
2,731,102
21.03
627
,104 21.03
627
,104
934,152
934,152
577
577
0.90 1,000,278
88.35
0.90
1,000,278 531,068
531,068 88.35
19.74
16.85 19.74
16.85
1.24
1.22
1.22 1.24
146
146
0.68
0.68
10.00
2020 10.00
100,942
106,546 100,942
106,546
259.45
518,725
518,725 144,311
144,311 259.45
0 0
- -
5.55 1,094,139
116.71
5.55
1,094,139 504,883
504,883 116.71
(18.96)
2,700 (18.96)
2,188 2,700
0.92 2,188
0.97
0.97 0.92
817
817
(26.25)
1,107 (26.25)
1,107
387
387
13.16
342 13.16
342
5,328
5,328
40.94
3,781 40.94
3,781
(42.49)
103,794
103,794 180,472
180,472 (42.49)
642
642
(24.47)
850 (24.47)
850
2,353
2,353
14.33
2,058 14.33
2,058
(39.45)
103,433
103,433 170,827
170,827 (39.45)
17.38
17.38 4.06
4.06
518
518
475
475
9.05
9.05
3,498
3,498
(1.05)
3,535 (1.05)
3,535
(83.92)
34,193
34,193 212,607
212,607 (83.92)
0.83
0.83 0.89
0.89
339
339
330
330
2.73
2.73
4,476
4,476
(7.28)
4,828 (7.28)
4,828
(49.20)
158,944
158,944 312,869
312,869 (49.20)
12,929
13,91112,929
1.15
1.15 1.53
1.53 13,911
7.60
7.60
105
105
98,854
98,854
92,187
92,187
7.23
7.23
775,142
794,019
794,019 775,142
2.44
2.44
734,570
734,570
248.44
210,814 248.44
210,814
121,268 70.03
206,192 121,268
70.03
206,192
1,126,782 10.12
1,240,813 1,126,782
1,240,813
10.12
13.06
10,763,925 13.06
12,169,870
12,169,87010,763,925
1,013,577
1,013,577
36.33
743,488 36.33
743,488
953,413 (18.78)
774,332 953,413
(18.78)
774,332
1,174,907 14.00
1,339,439 1,174,907
.58) (1.29)
.49)
(12.45)(17(17
(19.40)(17(17
1,339,439
14.00 (12.45)
.58)
(1.29) (1.57)
(1.57) (19.40)
.49)
1.55
1.55 1.68
1.68
806
806
776
776
3.87
3.87
1,702
1,702
20.49 1,550,092
1,412 20.49
(15.28)
1,412
1,550,092 1,829,738
1,829,738 (15.28)
1.34
1.34
123,069
123,069
112,953
112,953
8.96
8.96
42,760
42,760
40,476
40,476
5.64
5.64
1,067
,158 13.82
1,214,654 1,067
1,214,654
,158
13.82
1.20
1.12
1.12 1.20
279
279
271
271
2.95
2.95
4,762
4,762
12.88
4,219 12.88
4,219
15,252
15,252
941,208 1,303,037
1,303,037(27(27
.77)
941,208
.77)
(3.12)
1,844,077 (3.12)
1,786,540
1,786,540 1,844,077
833,063
833,063
19.41
697
,648 19.41
697
,648
n.dn.d
n.dn.d
- -
- -
1.87
1.13
1.13 1.87
700
700
n.dn.d
- -
- -
- -
554,172
554,172
761,170
761,170
448,886 69.57
69.57
448,886
11.72
1,774,956 11.72
1,982,948
1,982,948 1,774,956
270
270
4.81
4.81
(14.37)
5,219 (14.37)
5,219
640,688
640,688
40,901
40,901
28,719 42.42
42.42
28,719
(1.89)
20,585 (1.89)
20,196 20,585
20,196
159,981
159,981
844,175
844,175
323,355161.07
161.07
323,355
138,066
138,066
135,272 2.07
2.07
135,272
7,856,814 5,356,627
5,356,627 46.67
46.67
7,856,814
17,172,45316,156,608
16,156,608 6.29
6.29 10,804,977
10,804,97710,501,962
10,501,962 2.89
2.89
17,172,453
729,458
729,458
829,000
829,000
2.97
2.97
12,944,202 11,717
11,717
,338 10.47
10.47 1,575,558
1,575,558 1,250,566
1,250,566 25.99
25.99
12,944,202
,338
14,820,073 8,689,027
8,689,027 70.56
70.56
14,820,073
(13.68)
175,332 (13.68)
151,339
151,339 175,332
1.94
1.94
4,437
,628 3,253,778
36.38
3,253,778 36.38
4,437
,628
1,947
,795
2,005,711
2,005,711 1,947
,795
2,855,524 2,791,309
2,791,309 2.30
2.30 1,325,419
1,325,419 1,355,585
1,355,585 (2.23)
(2.23)
2,855,524
151,005105.94
105.94
151,005
6,183,818
6,779,501 6,183,818
6,779,501
28.05
1.90 24.91
24.9128.05
1.73
1.73 1.90
405
405
12.61
1,025,647 12.61
1,155,009
1,155,009 1,025,647
310,987
310,987
29.59
27.36 29.59
27.36
969
969
491,907
491,907 17.15
17.15
197
,250 2.22
2.22
197
,250
21.26
2,872,471 21.26
3,483,047 2,872,471
3,483,047
16.11
3.45 16.11
3.45
438
438
576,270
576,270
201,628
201,628
5,197
,549 19.48
6,209,921 5,197
19.48
6,209,921
,549
2.79 0.70
0.58 2.79
3.05
0.58
0.70 3.05
411.14
542,556
542,556 106,146
106,146 411.14
0.88
0.86
0.86 0.88
2,557
2,557
,977
,977 2,679,158
2,679,158 (4.52)
(4.52) 2,036,158
2,036,158 2,355,774
2,355,774(13.57)
(13.57)
896,411 11.58
11.58
896,411
2.07 (2.73)
5.14
(1.89) 2.07
3.06 (4.80)
(4.80) 5.14
(1.89)
(2.73) 3.06
9.49
9.49
1,041
0.88 1,041
0.84
0.84 0.88
1,345,569
1,345,569 1,199,755
1,199,755 12.15
12.15
1,000,211
1,000,211
1,209
1,209
- -
15.13
5.53 15.20
15.20 15.13
5.13
5.13 5.53
18.60
18.60
850,236
850,236 69.67
69.67
1,324
1,324
n.dn.d
300.01
70,942
70,942 300.01
8.74
8.98 8.74
8.98
56.18
56.18 1,428,993
1,428,993 1,204,924
1,204,924
675,928
675,928 59.21
59.21
n.dn.d
283,774
283,774
28.75 2.83
21.84
2.93 19.23
27.18 28.75
19.23 21.84
27.18
2.83 2.93
41.10
1,101,739 41.10
1,554,591
1,554,591 1,101,739
1,076,169
1,076,169
(11.08)
7,538 (11.08)
7,538
(35.27)
9,283 (35.27)
9,283
12.14
3,126,815 12.14
3,506,301 3,126,815
3,506,301
52.60
3,671,000 52.60
5,602,000
5,602,000 3,671,000
873,970
873,970 45.95
45.95
9.50
9.50
5.48 1,041,482
1,259,876 (17(17
.33)
5.48
1,041,482 1,259,876
.33)
6,703
6,703
18.15
4,506 18.15
5,324 4,506
1.68 5,324
1.34
1.34 1.68
18.42
4,239,686 18.42
5,020,543 4,239,686
5,020,543
3,295
3,295
6,009
6,009
3.99
6.58 3.99
6.58
3.51
3.51
3,475
3,475
41,144 31,703
29.78 2,256,636
31,703 29.78
(20.40)
41,144
2,256,636 2,834,935
2,834,935 (20.40)
29.19
973 29.19
973
1,257
1.03 1,257
1.08
1.08 1.03
24.29
11.28 16.54
16.5424.29
7.48
7.48 11.28
9,593 10,860
(11.67) 2,925,984
10,860 (11.67)
1,834,917 59.46
59.46
9,593
2,925,984 1,834,917
(1.38)
1,085 (1.38)
1,070 1,085
1.13 1,070
0.87
0.87 1.13
2.61 6.99
134.90
7.08 2.61
4.34 96.31
96.31134.90
7.08
6.99 4.34
103.93
6.67 47.34
47.34103.93
9.74
9.74 6.67
(7.24) 2,008,747
1,917 (7.24)
2,249,286 (10.69)
(10.69)
1,917
2,008,747 2,249,286
11.15
2,242,963 11.15
2,493,120 2,242,963
2,493,120
7,700,000
7,700,000 5,484,000
5,484,000 40.41
40.41 1,824,000
1,824,000 1,111,000
1,111,000 64.18
64.18
3,294,694
3,294,694 2,561,332
2,561,332 28.63
28.63 2,026,942
2,026,942 1,599,653
1,599,653 26.71
26.71
7.91
7.91
10.15
7.78 10.15
7.78
193
193
- -
50,795 172.22
172.22
50,795
9.63
9.63
3,665,781
3,665,781 2,694,567
2,694,567 36.04
36.04 1,038,722
1,038,722
770,935
770,935 34.74
34.74
874,895
905,620 874,895
905,620
5,634,144
6,079,899 5,634,144
6,079,899
7.50 4.61
5.53 7.50
6.13
5.53
4.61 6.13
856
856
1,778
1,778
1,626,616
0 0 1,626,616
138,274
138,274
97.53
97.53
2,508,693 12.22
2,815,250 2,508,693
12.22
2,815,250
35,920,21335,236,507
2.95 35,920,213
35,236,507
2.95
4.83
4.83
142,052
142,052
5.90
5.90
41,044,75223,179,888
20.77 41,044,752
77.07
62,896,678 20.77
23,179,888 77.07
75,957
75,957
,899
,89962,896,678
194,000
194,000 233,000
233,000 (16.74)
(16.74)
8.18
8.18
1,448,038 1,367
1,367
,413
1,448,038
,413
82,167
82,167
,820
,82068,094,227
68,094,227 20.67
20.67 34,571,939
34,571,93928,101,342
28,101,342 23.03
23.03
23,134
23,134
12,800
12,800
1.68
1.68
10.47
10.47
10.84
10.84
605,427
605,427 315,713
315,713
3,398,217
3,455,417
3,455,417 3,398,217
650,297
650,297 620,335
620,335
9.39
9.39
31,338
31,338 219.33
219.33
668,818
668,818
462,005 44.76
44.76
462,005
158,868
158,868
213,267
213,267
156,774
156,774
181.88
75,658 181.88
75,658
5.03
5.03
1,680,951 1,396,001
20.41
1,396,001 20.41
1,680,951
168,654
168,654
160.64
64,707 160.64
64,707
12,299,964 7,332,661
82.84 12,299,964
7,366,501 82.84
7,332,661
13,468,718
13,468,718 7,366,501
67.74
67.74
13.67 12,637
13,619,450 13.67
12.12
11,272,061 12.12
15,481,342
15,481,34213,619,450
12,637
,820
,82011,272,061
(19.38)
229,106 (19.38)
184,706
184,706 229,106
184,706
184,706
183,186
183,186
1,209,423 595,408
103.13
1,209,423
595,408 103.13
n.dn.d
n.dn.d
- -
1.53
1.53 1.97
1.97
0.77 4.54
22.45
0.70 0.77
22.0122.45
0.70
4.54 4.45
4.45 22.01
- -
- -
- -
- -
- -
9797
- -
7.57
7.57
n.dn.d
n.dn.d
- -
92.67
7,916
7,916 92.67
n.dn.d
- -
n.dn.d
- -
756,299(49.30)
25.69 18.96
64.32
(49.30) 49.00
49.00 25.69
67.0964.32
756,299
18.96 13.32
13.32 67.09
0.32
0.45
0.45 0.32
283
283
1,206,731
1,206,731
881,387 36.91
36.91
881,387
1.40 6.03
18.74
1.55 1.40
21.66 18.74
1.55
6.03 8.48
8.48 21.66
0.44
0.24
0.24 0.44
6464
14.29
5656 14.29
1,051,800
1,051,800
610,464 72.30
610,464
72.30
(11.23)
1.86(11.23)
1.86
(5.87)
1.66 (5.87)
1.66
0.73
0.64
0.64 0.73
437
437
34.46
325 34.46
325
3,143
3,143
22.60
2,563 22.60
2,563
1,691,111 2,537
(1,550,427) (5.47)
(1,635,271)(1,550,427)
(56.57) (3.51)
(34.13)
(33.35) (1,635,271)
(50.52)(56.57)
(28.53)(34.13)
1,691,111
2,537
,158
,158(33.35)
(5.47) (50.52)
(3.51) (4.53)
(4.53) (28.53)
0.93
0.85
0.85 0.93
865
865
(1.48)
878 (1.48)
878
1,370
1,370
(7.97)
1,489 (7.97)
1,489
n.dn.d
n.dn.d
- -
2.52
3.62
3.62 2.52
2323
53.33
1515 53.33
(21.27)
78,231 (21.27)
61,592 78,231
61,592
19,452
19,452
17,596
17,596
10.55
10.55
97,720
97,720
29.69
75,347
75,347 29.69
1,351,355 1,322,525
1,351,355
1,322,525
2.18
2.18
0.83
0.83
544,752 280,523
94.19
544,752
280,523 94.19
(749,650) (569,709)
(31.58)
(749,650)
(569,709) (31.58)
383,459
383,459
793,334
793,334
617
,648 28.44
617
,648
28.44
0.15
0.15 (0.78)
(0.78)
19.92 33.94
103.96
21.16 19.92
60.00103.96
21.16
33.94 35.16
35.16 60.00
4,469
4,469
539.92
25,000
25,000 539.92
63.78
416,093
416,093 254,054
254,054 63.78
- -
20.16
1,618,375 20.16
1,944,693
1,944,693 1,618,375
1,023,917
1,023,917
99.87
512,281 99.87
512,281
- -
720
720
690
690
4.35
4.35
1,619
1,619
(4.12)
1,688 (4.12)
1,688
8.24
8.24
14,798
14,798
13,946
13,946
6.11
6.11
551,696
551,696
409,103 34.86
34.86
409,103
511,815
511,815
368,686 38.82
38.82
368,686
39.64
334,317 39.64
466,846
466,846 334,317
466,846
466,846
39.64
334,317 39.64
334,317
84,850
84,850
13.46
74,787
74,787 13.46
1,077
,070
1,077
,070
963,092 11.83
11.83
963,092
0.95
0.92 0.95
0.92
13.26
2.27 12.61
12.61 13.26
1.82
1.82 2.27
1.10
1.10
1.10 1.10
112112
103
103
8.74
8.74
10,171
10,171
18.11
8,612 18.11
8,612
0 0
0 0
- -
62,042
62,042 (49.59)
(49.59)
53,998
53,998
95,378
95,378 (43.39)
(43.39)
436,137
436,137
418,964 4.10
4.10
418,964
423,437
423,437
407
,345 3.95
3.95
407
,345
13.02
352,568 13.02
398,467
398,467 352,568
398,467
398,467
13.02
352,568 13.02
352,568
37,670
37,670
(43.26)
66,396
66,396(43.26)
131,847
131,847
110,316 19.52
19.52
110,316
4.43
2.95 4.43
2.95
118.34
14.81 60.10
60.10118.34
7.17
7.17 14.81
1.06
1.06
1.11.1
6868
6363
7.94
7.94
.18)
22,238 (27(27
16,193 22,238
16,193
.18)
0 0
0 0
- -
376,230 281,736
33.54
376,230
281,736 33.54
1.50
1.50 (179,941)
(179,941) (118,643)
(118,643) (51.67)
(51.67)
9,297
9,297
1,195,044 1,048,667
1,048,667 13.96
13.96
1,195,044
n.dn.d
n.dn.d
13,351
13,351
1,358883.50
(10.55)(15.06)
23.25
883.50 (15.77)
(15.77)(10.55)
27.2823.25
1,358
(15.06)(11.31)
(11.31) 27.28
- -
10.91
5555 10.91
(2.49)
(2.49)
1,926,151 1,295,917
1,295,917 48.63
48.63 1,905,956
1,905,956 1,274,317
1,274,317 49.57
49.57
1,926,151
52.82
1,014,181 52.82
1,549,921
1,549,921 1,014,181
588,399
588,399
51.32
388,833 51.32
388,833
429,592
429,592
367
,913 16.76
16.76
367
,913
12.48 4.89
45.32
8.91 12.48
7.78 28.65
28.6545.32
8.91
4.89 7.78
3.28
3.24
3.24 3.28
1.72
1.72
41,368
41,368
30,065
30,065
37.60
37.60
1,099,061 1,067
1,067
,023 3.00
3.00
1,099,061
,023
999,217
1,021,610
1,021,610 999,217
2.24
2.24
919,058
919,058
871,491
871,491
5.46
5.46
77,451
77,451
67,805 14.23
14.23
67,805
931,439
931,439
696,208 33.79
33.79
696,208
2.41
1.80 2.41
1.80
28.47
1.75 26.12
26.1228.47
1.73
1.73 1.75
1.10
1.03
1.03 1.10
407
407
23.33
330 23.33
330
8,542
8,542
3,403
3,403 151.01
151.01
12,610
12,610
7,768
7,768
62.33
62.33
927
,748
927
,748
13,918
13,918
16,063
16,063 (13.35)
(13.35)
26,749
26,749
18,347
18,347
45.79
45.79
425,051
425,051
1,057
1,057
,622
,622
807
807
,429
,429 30.99
30.99
94,242
94,242 100,781
100,781
5353
- Sociedade
Tcnica
dede
Obras
e Projectos,
Lda
5151 Televisa
Televisa
- Sociedade
Tcnica
Obras
e Projectos,
Lda
Servios
Servios
1,056,556
1,056,556
774,269
774,269 36.46
36.46
18,970
18,970
5454
Group,
Lda
5454 Premier
Premier
Group,
Lda
Comrcio
Comrcio
1,052,802
1,052,802
692,969
692,969
51.93
51.93
5555
Industrial,
SASA
5656 TCNICA
TCNICA
Industrial,
Comrcio
Comrcio
1,045,921
1,045,921
631,461
631,461 65.64
65.64
0.23
0.23 1,764,905
1,764,905 1,758,155
1,758,155
14.31
14.31
72,000
72,000 106.94
106.94
(7.76)
(7.76) (603,228)
(603,228) (732,337)
(732,337)
899,657
899,657 30.08
30.08
977
977
,416
,416
404,618
404,618 353,961
353,961
9.84
9.84 1,679,924
1,679,924 1,520,733
1,520,733
0.83
0.55
0.55 0.83
2,032,592 1,389,773
46.25
1,389,773 46.25
2,032,592
5,297
,078
5,297
,078 4,678,313
4,678,313
2,323,111
2,323,111 2,386,146
2,386,146 (2.64)
(2.64)
13.74
3.39 13.74
3.39
1.35
1.35
5,986,465
5,986,465 5,824,766
5,824,766
4,361,038
4,361,038 4,273,113
4,273,113 2.06
2.06 1,249,671
1,249,671 1,192,282
1,192,282 4.81
4.81
5.47
1.22
1.22 5.47
0.47
0.47
Transportes
e Armazenagem
Transportes
e Armazenagem
99,533
99,533 (90.61)
(90.61)
7.63
2.18 7.63
2.18
852
852
Comrcio
Comrcio
9,343
9,343
54.96
3,650 54.96
5,656 3,650
3.19 5,656
2.31
2.31 3.19
2,298
2,329 2,298
0.71 2,329
0.67
0.67 0.71
- Linhas
Areas
dede
Moambique,
SASA
1515 LAM
LAM
- Linhas
Areas
Moambique,
(123,478)
(123,478) 186,001
186,001 (166.39)
(166.39)
5.55
6.36 5.55
6.36
39.93 3.87
26.92
41.08 39.93
4.22 25.19
25.1926.92
41.08
3.87 4.22
Moambique,
Lda
1212 BPBP
Moambique,
Lda
30,725
30,725 130,475
130,475 (76.45)
(76.45)
3.66
4.10
4.10 3.66
6.53
6.53
1717
2.78
2.78 (112,847)
(112,847) 120,481
120,481 (193.66)
(193.66)
20.87
20.21 20.87
20.21
3,455,670
3,681,295 3,455,670
3,681,295
(0.45)
7,674,207 (0.45)
7,639,778 7,674,207
7,639,778
27,650 13,084
111.32
13,084 111.32
27,650
1,229,6601,315,003
0.00 1,229,660
(6.49)
1,315,003 (6.49)
0.00
11,988,914 18.76
14,238,02211,988,914
18.76
14,238,022
1818
13.23
13.23
- -
8.03 2,038,188
1,031,849
8.03
2,038,188 1,031,849
18,650
18,650
(6.49)
(6.49)
136,985
136,985 140,478
140,478
6161
16,821
18,235 16,821
18,235
8.40
8.40
(39.14)
124,126
124,126 203,949
203,949 (39.14)
2,932
2,932
(56.35)
6,717
6,717 (56.35)
949,137
949,137
956,506 (0.77)
(0.77)
956,506
766,778 20.99
20.99
766,778
442,176
442,176
337
,804 30.90
30.90
337
,804
18.68
753,260 18.68
893,954
893,954 753,260
893,954
893,954
18.68
753,260 18.68
753,260
87,794
87,794
13,514549.65
549.65
13,514
956,679
956,679
685,201 39.62
39.62
685,201
0.49 0.92
28.80
0.81 0.49
0.44 16.86
16.8628.80
0.81
0.92 0.44
0.45
0.49
0.49 0.45
603
603
566
566
209,302103.08
103.08
209,302
214,778
214,778
198,482 8.21
8.21
198,482
170.03
120,046 170.03
324,163
324,163 120,046
324,163
324,163
170.03
120,046 170.03
120,046
100,888
100,888
89,256 13.03
13.03
89,256
1,023,900
1,023,900
641,233 59.68
59.68
641,233
2.54 3.27
20.06
1.33 2.54
7.67 14.64
14.6420.06
1.33
3.27 7.67
1.65
0.66
0.66 1.65
177
177
173
173
2,867
2,867
21.46
2,361 21.46
2,361
60,942
60,942
6.54
6.54
1,801
1,801
10.21
1,634 10.21
1,634
(95.04)
17,925
17,925 361,703
361,703 (95.04)
2.31
2.31
5,977
5,977
62.80
3,671 62.80
3,671
3,666
3,666
35.21
45,071
45,071 35.21
(18.73)
4,511
4,511 (18.73)
n.dn.d
- -
n.dn.d
n.dn.d
- -
2,682,190 2,320,801
2,320,801 15.57
15.57
2,682,190
941,208 1,303,037
1,303,037(27(27
.77)
941,208
.77)
(3.12)
1,844,077 (3.12)
1,786,540
1,786,540 1,844,077
605,427 315,713
315,713
605,427
91.76
91.76
821,783
821,783
443,010
443,010
85.50
85.50
3,192,371 2,370,365
2,370,365 34.68
34.68
3,192,371
761,170
761,170
448,886 69.57
69.57
448,886
11.72
1,774,956 11.72
1,982,948
1,982,948 1,774,956
46.46
46.46
27,570
27,570
15,897
15,897
73.43
73.43
40,901
40,901
28,719 42.42
42.42
28,719
4343
Servios
Investimentos
e Trading,
Lda
4040 Servitrade
Servitrade
Servios
Investimentos
e Trading,
Lda
Construo
Construo
1,274,567 1,153,647
1,153,647
1,274,567
10.48
10.48
4444
dede
Carvo
dada
Matola,
Lda
3939 Terminal
Terminal
Carvo
Matola,
Lda
Transportes
e Armazenagem
Transportes
e Armazenagem
1,235,604 1,228,988
1,228,988
1,235,604
0.54
0.54
4545
Petroleum,
Lda
4747 African
African
Petroleum,
Lda
Comrcio
Comrcio
1,211,762
1,211,762
916,017 32.29
32.29
916,017
18,747
18,747
4646
Banco,
SASA
5757 Moza
Moza
Banco,
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
1,197
,345
1,197
,345
599,795 99.63
99.63
599,795
22,252 (67(67
,379) 133.03
133.03
22,252
,379)
4747
Bank
Moambique,
SASA
5050 Barclays
Barclays
Bank
Moambique,
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
1,194,130 1,294,584
1,294,584
1,194,130
Rank
R n
Empresa
Emp
Grindrod
Lda
Grindrod
Mozambique,
Lda
Company
C mMozambique,
4848
4848
4949
dada
Regio
dede
Maputo,
SASA
4646 guas
guas
Regio
Maputo,
2013
Moambique,
Lda
4444 Unicomo
5050 2012
Unicomo
Moambique,
Lda
Sector
S odedActividade
A
d d
Servios
Servios
Activity
A
1,170,254
1,170,254
Servios
Servios
1,141,140 1,124,317
1,124,317
1,141,140
Comrcio
Comrcio
2013
1,093,426
1,093,426
n.dn.d
12,800
12,800
(7.76) (603,228)
(603,228) (732,337)
(732,337)
(7.76)
Vol.
Voded Neg.
N g
899,657
30.08
899,657
Revenues
R 30.08
(103 Meticais)
M
17.63
17.63
Resultados
R u doLquidos
qu do
247
,572 179,180
179,180
38.17
247
,572
Net
N Profits
P38.17
(103 Meticais)
M
1.50 (179,941)
(179,941) (118,643)
(118,643) (51.67)
(51.67)
1.50
2012
%
977
,416 %13/12
11.87
977
,416
11.87
2013
10,063
10,063
2012
%
9,297 %13/12
8.24
9,297
8.24
36,670 (82,052)
(82,052) 144.69
144.69
36,670
(603,228) (732,337)
(732,337)
(603,228)
17.63
17.63
Resultados
R u doAntes
An
378,465 dos
269,015
40.69
378,465
269,015
40.69
do
Impostos
mpo
o
Income
m Before
B
Taxes
3
(10
Meticais)
M 12.07
(127
,439) (144,941)
(144,941)
12.07
(127
,439)
2013
14,798
14,798
2012
%6.11
13,946 %13/12
6.11
13,946
310,987
310,987
151,005105.94
105.94
151,005
14,820,073 8,689,027
8,689,027 70.56
70.56
14,820,073
7,856,814 5,356,627
5,356,627 46.67
46.67
7,856,814
17,172,45316,156,608
16,156,608 6.29
6.29 10,804,977
10,804,97710,501,962
10,501,962 2.89
2.89
17,172,453
Activo
A
o
Lquido
qu do
729,458 509,629
509,629
43.14
729,458
Net
N Assets
A43.14
(103 Meticais)
M
1,195,044 1,048,667
1,048,667 13.96
13.96
1,195,044
2013
551,696
551,696
2012 %13/12
%34.86
409,103
409,103
34.86
Activo
A
o
Corrente
Co n
668,818Current
462,005
44.76
668,818
462,005
C
Assets
A44.76
(103 Meticais)
M
n.dn.d
2013
511,815
511,815
213,267
213,267
181.88
75,658 181.88
75,658
833,063
833,063
697
,648
697
,648 19.41
19.41
1,680,951 1,396,001
1,680,951
1,396,001 20.41
20.41
168,654
168,654
64,707
64,707 160.64
160.64
12,299,964 7,332,661
82.84 12,299,964
7,366,501 82.84
13,468,718
13,468,718 7,366,501
7,332,661
67.74
67.74
12,637
,82011,272,061
13.67 12,637
13,619,450 13.67
15,481,342
15,481,34213,619,450
,820
11,272,061 12.12
12.12
184,706
184,706
Passivo Total
(19.38)
229,106
229,106
(19.38)
Total
Liabilites
(10 3 Meticais)
M
Passivo Corrente
C
184,706
184,706
0.83
183,186
0.83
Current
C 183,186
Liabilities
(103 Meticais)
M
- -
20.16
1,618,375 20.16
1,944,693
1,944,693 1,618,375
1,023,917
1,023,917
512,281
512,281 99.87
99.87
2012 %13/12
%38.82
368,686
368,686
38.82
%39.64
2013
2012 %13/12
334,317
466,846
466,846
334,317
39.64
2013
466,846
466,846
%39.64
2012 %13/12
334,317
39.64
334,317
n.dn.d
n.d
1,209,423
1,209,423 595,408
595,408 103.13
n.dn.d
383,459
97,720
97,720
n.dn.d
75,347
75,347 29.69
1,351,355
1,351,355 1,322,525
1,322,525
2.18
1,691,111
,158
1,691,111 2,537
2,537
,158(33.35)
Capitais
C
Prprios
544,752
280,523
544,752
280,523 94.19
Shareholdersfunds
(103 Meticais)
M
756,299 (49.30)
n.d
49.00
25.69
18.96
13.32
1.55
1.40
6.03
8.48
1,206,731
881,387
36.91
1,051,800
610,464
72.30
1.86 (11.23)
0.15
(0.78)
(1,635,271) (1,550,427)
(5.47)
(50.52) (56.57)
(3.51)
(4.53)
Custos
C
Operacionais
O
793,334 Operating
617,648 Cost
28.44
O
C
(103 Meticais)
M
(749,650)
(749,650) (569,709)
(569,709) (31.58)
13,351
1,358 883.50
%
2012
74,787
13.46
74,787%13/12
1,0772013
,070
%
2012 %13/12
963,092
11.83
2013
84,850
84,850
2013
0.92
2012
0.95
2013
1.82
2012
2.27
SARL
136 Mozal,
M
CMA
CGM
Mozambique,
Lda
36
CMA
CGM
Mozambique,
Lda
Indstria
Transportes
e Armazenagem
Transportes
e Armazenagem
252
52
- Petrleos
de Moambique,
SA , SARL
249 PETROMOC
OMO
M dem
Hollard
Moambique
Companhia
Seguros
49
Hollard
Moambique
Companhia
de
Seguros
, SARL
Comrcio
m
12.05
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros 18,826,026
1,057
1,057
,622
,622 16,801,308
807
807
,429
,429 30.99
30.99
353
53
Moambique,
SA
n.a
M- Sociedade
m
Televisa
Tcnica
dede
Obras
e Projectos,
Lda
5151 Vale
Televisa
- Sociedade
Tcnica
Obras
e Projectos,
Lda
Indstria
Servios
Servios
11,460,892
,245)
(15,903,465)
1,056,556
1,056,556 8,068,955
774,269
774,269 42.04
36.46
36.46 (11,617
18,970
18,970
18,650
18,650
454
54
- Electricidade
de Moambique,
E.P.
754 EDM
M
M m
Premier
Group,
Lda
54
Premier
Group,
Lda
Servios
Comrcio
Comrcio
10,205,956
1,052,802
1,052,802 8,723,552
692,969
692,969
555
55
de
Moambique,
456 Cervejas
M SA
m SA SARL
TCNICA
Industrial,
56
TCNICA
Industrial,
Indstria
Comrcio
Comrcio
656
56
de SA
Cahora
6n.a Hidroelctrica
Portos
dodo
Norte,
n.a
Portos
Norte,
SA Bassa, SARL
Indstria
Servios
Servios
9,110,774
898,924
898,924 8,629,212- -
757
57
SARL
352 MOTRACO,
MO
O
Hariche
Group,
Lda
52
Hariche
Group,
Lda
Servios
Comrcio
Comrcio
8,607
,617 9,205,023
853,546
853,546
754,724
754,724 (6.49)
13.09
13.09
272,119
14,799
14,799
4.25
(0.69)
(0.69)
858
58
- Portos- Cimpor
e- Caminhos
deMoambique,
Ferro
de Moambique,
E.P.
959 CFM
M
m
MSASAm
CIMBETO
Beto
59
CIMBETO
Cimpor
Beto
Moambique,
Transportes
m
m
Indstria
8,272,802
,804
20.49
846,819
846,819 6,649,948
544,575
544,575 24.40
55.50
55.50 1,672,227
36,781
36,781 1,387
13,573
13,573
170.99
170.99 2,481,946
50,534
50,534 1,913,005
26,324
26,324
29.74
91.97
91.97
959
59
Moambique
Celular,
SASARL
558 mCel
m
M m Expresso,
MEX
-- Moambique
58
MEX
- Moambique
Expresso,
SARL
Comunicaes
m
Transportes
e Armazenagem
Transportes
e Armazenagem
8,192,669
(9.11)
818,864
818,864 9,014,153
565,552
565,552 44.79
44.79
1060
60
- Moambique,
Banco
Internacional
SA
853 BIM
M
M m
Ferro
Lda
53
Ferro
Moambique,
Ldade Moambique,
Actividades
Comrcio
8,039,551
791,529
791,529 7,459,047
695,508
695,508
1161
61
Temane,
Lda
1363 Sasol
m
mBank
FNB
- Petroleum
First
National
Bank
Moambique,
SASA
63
FNB
- First
National
Moambique,
Indstria
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
7,714,506
28.19
28.12
791,262
791,262 5,769,993
512,402
512,402 33.70
54.42
54.42 3,181,682
104,177
104,1772,482,085
(91,396)
(91,396) 213.98
213.98 4,681,921
122,354
122,354 3,654,348
(92,994)
(92,994) 231.57
231.57
1262
62
Holdings,
SA
1141 Intelec
Corredor
dede
Desenvolvimento
dodo
Norte
(CDN),
SARL
41
Corredor
Desenvolvimento
Norte
(CDN),
SARL
Servios
Transportes
e Armazenagem
Transportes
e Armazenagem
7,222,024
23.39
399,409
438,966
(9.01)
754,490
754,490 5,853,024
1,186,642
1,186,642 (36.42)
(36.42) (430,031)
(430,031) (328,688)
(328,688) (30.83)
(30.83)
1363
63
- Engil
1778 Mota
M
BancABC,
SAEng.
78
BancABC,
SA Construo frica, SA
Construo
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
6,699,685
(8.01)
752,176
752,176 7,282,728
599,213
599,213 25.53
25.53
474,190
32,184
32,184 189,930
65,932
65,932 149.67
(51.19)
(51.19)
1464
64
Leaf Tobacco, Lda

10n.a Mozambique
M
m, Lda
EMOCIL
n.a
EMOCIL
, Lda
Agricultura
e Pescas
Construo
Construo
6,508,039
10.90
679,686
679,686 5,868,252
257
257
,420
,420 164.04
164.04
428,139
234,109
82.88
24,763
24,763 (49,555)
(49,555) 149.97
149.97
428,139
234,109
82.88
24,763
24,763 (49,555)
(49,555) 149.97
149.97
4,397
,230 3,510,401
25.26
20.87
860,097
860,097
360,757
360,757138.41
138.41 2,705,668
810,144
810,144 2,238,514
294,327
294,327175.25
175.25
3,278,691
16.27
139.89
339,242139.89
813,818 2,820,001
813,818
339,242
2,013,606
50.83
813,818 1,335,041
813,818
339,242
339,242 139.89
139.89
1,118,539
46,278
46,278 690,400
21,515
62.01
115.10
6,079,899
(654,923)
5,634,144
7.91
(306,975) (113.35)
1565
65
Moambique,
Lda
1661 Petrogal
M
m
TVTV
Cabo
- Comunicao
Multimdia,
Lda
61
Cabo
- Comunicao
Multimdia,
Lda
Comrcio
m
Comunicaes
Comunicaes
6,076,548
662,931
662,931 4,646,508
532,504
532,504 30.78
24.49
24.49
132,486
6.76
8,124
8,124 124,096
83,943
83,943 (90.32)
(90.32)
232,341
24,906
24,906
178,117
30.44
66,183
66,183 (62.37)
(62.37)
2,619,660
,560 43.34
5714.83
.86
1,078,281
1,078,281 1,827
766,326
766,326
40.71
40.71 2,108,907
134,383
134,383 1,335,927
117117
,026
,026 14.83
1,772,004
50.75
645,267 59.30
972,769 1,112,389
972,769
645,267
50.75
1,772,004
59.30
737
,896 1,112,389
737
,896
511,674
511,674 44.21
44.21
847
,656
715,171
105,512
105,512
121,059
18.52
(12.84)
5,830,286
662,026
4,388,201
463,107
32.86
42.95
1666
66
Moambique,
SARL
1460 Total
M Lda.
m
Agrifocus,
60
Agrifocus,
Lda.
Comrcio
m
Comrcio
6,033,647
2720.45
.72
648,000
648,000 4,723,996
538,000
538,000 20.45
226,853
64,000
64,000 348,219
65,000
65,000 (34.85)
(1.54)
(1.54)
405,362
98,000
98,000
511,159
99,000
99,000 (20.70)
(1.01)
(1.01)
3,034,772
,913 22.63
(1.72)
(4.71)
596,000
596,000 3,087
486,000
486,000
22.63 1,348,993
559,000
559,000 1,415,651
447
447
,000
,000 25.06
25.06
1,715,176
3.05
28.66
164,000 28.66
211,000 1,664,362
211,000
164,000
1,700,404
2729.45
.43
211,000 1,334,399
211,000
163,000
163,000 29.45
1,319,596
385,000
385,000 1,423,551
321,000
(7.30)
19.94
5,511,148
556,000
4,161,912
451,000
32.42
23.28
1767
67
Moambique,
12n.a BP
M
m SASALda
Banco
nico,
n.a
Banco
nico,
Comrcio
m
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
5,986,465
2.78
(112,847)
120,481
613,488
613,488 5,824,766
241,333
241,333 154.21
154.21
(100,810)
(100,810) (280,643)
(280,643) (193.66)
64.08
64.08
4,129,910
4.85
8,957
8,957
,898
,898 3,938,809
6,879,165
6,879,165 30.22
30.22
2,293,422
935,841
935,841 2,406,269
1,033,951
(4.69)
(9.49)
5,944,670
685,433
5,429,111
577,212
9.50
18.75
1868
68
- Linhas- Financial
Areas
de
Moambique,
SA
1593 LAM
M
M Mozambique,
mMozambique,
LETSHEGO
Services
SASA
93
LETSHEGO
- Financial
Services
Transportes
e Armazenagem
m e de
m Seguros
Actividades
Financeiras
Seguros
Actividades
Financeiras
e de
5,297
,078 4,678,313
13.23
549,750
549,750
246,752
246,752 122.79
122.79
905,620
874,895 188.48
3.51
464,070 160,866
464,070
5,020,543
102,241
4,239,686
76,949
18.42
32.87
0.58
33.08
2.79
23.73
1969
69
Comercial
(BCI), SA
18n.a Banco
m e de Investimentos
Ferpinta
Moambique,
SASA m
n.a
Ferpinta
Moambique,
Actividades
Indstria
Indstria Financeiras e de Seguros
5,191,286
18.77
534,663
534,663 4,371,027
437
437
,543
,543 22.20
22.20 1,420,545
(8,920)
(8,920)1,293,282
(44,259)
(44,259)
27.36 (10.12)
29.59
(1.67)
20
7070
Bank,
SARL
1973 Standard
Tecnel
Lda
73
TecnelService,
Service,
Lda
21
7171
de Moambique,
SA
20
m
M
m Lda
Moambique
Car
Rental,
6666 Cimentos
Moambique
Car
Rental,
Lda
22
7272
23
7373
16.99
51.93
51.93
(95,030)
94,242
94,242 (252,079)
100,781
100,781
62.30
(6.49)
(6.49)
(135,617)
136,985
136,985 (322,356)
140,478
140,478
26.95
1.72
1.72 (14,273,441)
41,368
41,368(17,061,145)
30,065
30,065
(68,180)
8,542
8,542 104,524
3,403
3,403 (165.23)
151.01
151.01
242,655
13,280
13,280 233,555
12,885
12,885
3.90
3.07
3.07
178,665
(74.03)
2,906
2,906 688,092
5,782
5,782 (49.74)
(49.74)
713.81
.78 3,302,890
13.81
14,839
14,8392,978,404
13,284
13,284
(2.61)
45.79
45.79
3,487
,553
137
137
,326
,326 1,581,579- - 120.51- 283,677
14,697
14,697
83,133
7,248
7,248
48,044,000
0.98
436,137
436,13746,400,000
418,964
418,964 3.54
4.10
4.10 10,806,000
423,437
423,43710,701,000
407
407
,345
,345 3.95
3.95
15,400,283
,660 25.54
32.76
1,926,151
1,926,151 12,267
1,295,917
1,295,917
48.63
48.63 8,800,230
1,905,956
1,905,956 6,628,561
1,274,317
1,274,317 49.57
49.57
16.34
43.13
37.60
37.60 105,106,630
1,099,061
1,099,06181,101,999
1,067
1,067
,023
,023 29.60
3.00
3.00 23,582,657
949,137
949,13716,476,293
956,506
956,506 (0.77)
(0.77)
52,257
12,610
12,610 299,286
7,768
7,768 (82.54)
62.33
62.33
9,851,983
8.71
(6.48)
1,045,921
1,045,921 9,062,322
631,461
631,461 65.64
65.64 1,425,094
13,918
13,9181,523,848
16,063
16,063 (13.35)
(13.35) 2,093,551
26,749
26,749 2,149,664
18,347
18,347
5.58- - 2,310,059
91,123
91,1233,322,071- - (30.46)- -
57(2.49)
.93
(2.49)
743,345
7,895
7,895 (88.82)
(8.20)
(8.20)
9,966,000
31.24
13.02
352,568 13.02
398,467 7,594,000
398,467
352,568
3,143
2,563
22.60
416,093
254,054
63.78
(1.48)
1,370
1,489
(7.97)
n.d
n.d
2013
12.61
2012
13.26
NNTrabalhadores
23Nof Employees
15m 53.33
N
2013
1.10
2012
1.10
2013
112
720
690
4.35
1,619
%8.74
2012
103 %13/12
2013
10,171
1,688
(4.12)
%
2012 %13/12
8,612
18.11
Novos
N
investimentos
m
19,452
17,596
10.55
realizados
New
N w
Investment
m released
(103 Meticais)
M(39.14)
124,126
203,949
2013
0
2012
0
% %13/12
(3.35)
(27
.18)
477,000
0
588,000
0
(18.88)-
30,520
16,821
9.27
8.40
1,253,661
2,932
966,760
6,717
29.68
(56.35)
6,513,722
919,058 8,633,962
919,058
871,491
871,491 (24.56)
5.46
5.46 (29,037
77,949)
,451
77,451(17,420,705)
67,805
67,805(66.69)
14.23
19,967
,120 14,471,261
931,439
696,208
37.98
33.79
(11.05)
1.73 (19.61)
1.75
50.01 182.58
26.12
28.47
3.62
1.03
1.91
1.10
2,324
407
1,933
330
20.23
23.33
5,384
2,867
8,349
2,361
(35.50)
21.46
17,199,174
60,942 16,512,235
45,071
4.16
35.21
134,144,579
2.24
999,217 36.16
1,021,61098,522,704
1,021,610
999,217
2.24
(101.36)
.09)
1.80 (1972.41
43,578,153
13.14
14.81
927
927
,748
,74838,516,805
766,778
766,778 20.99
20.99 5,584,970
442,176
442,176 4,864,662
337
337
,804
,804 30.90
30.90
25,046,002
18.68
753,260 24.47
893,95420,122,269
893,954
753,260
18.68
5,446,350
893,954 4,340,882
893,954
753,260
753,260 25.47
18.68
18.68
18,532,151
0.75
87,794
87,79418,394,536
13,514
13,514549.65
9,836,686
956,679
8,356,614
685,201
17.71
39.62
(0.67)
0.81
1.20
0.49
(0.16)
0.92
0.27
0.44
(0.37)
0.69
16.86 28.80
1.03
0.49
1.12
0.45
3,493
603
3,476
566
0.49
6.54
2,929
1,801
2,594
1,634
12.93
10.21
4,659,770
17,925
3,775,273
361,703
23.43
(95.04)
9,303,810
19.98
5.10
425,051
425,051 7,754,453
209,302
209,302103.08
103.08 2,485,442
214,778
214,778 2,364,943
198,482
198,482 8.21
8.21
3,712,838
42.01
170.03
120,046 170.03
324,163 2,614,414
324,163
120,046
3,712,838
42.01
324,163 2,614,414
324,163
120,046
120,046 170.03
170.03
5,590,971
8.77
100,888
100,888 5,140,039
89,256
89,256 13.03
1,956,472
1,023,900
1,772,060
641,233
10.41
59.68
14.47
1.33
16.82
2.54
15.32
3.27
19.65
7.67
26.56
32.24
14.64 20.06
0.67
0.66
0.90
1.65
1,110
177
1,274
173
(12.87)
2.31
8,265
5,977
7,651
3,671
8.03
62.80
2,038,188
3,666
1,031,849
4,511
97.53
(18.73)
9,343,015
403,448
403,44810,079,096- - (7.30)- -
13,358,327
348,81816,384,223- - (18.47)- 348,818
3,783,922
348,818 2,582,269- - 46.53- 348,818
27,650-
13,084-
111.32-
0
n.d
1,626,616
n.d
4,148,665
0.88
0.52
666,005
666,005 4,112,463
449,467
449,467 48.18
48.18 1,488,049
290,302
290,302 1,480,325
203,807
203,807 42.44
42.44
1,900,080
(5.10)
42.29
336,291 42.29
478,504 2,002,195
478,504
336,291
1,229,660
3,632 1,315,003
3,900
(6.49)
(6.88)
138,274
54,927
50,795
59,256
172.22
(7.31)
1,917
10,085
(7.24)
33.29
2,008,747
40,725
2,249,286
87,342
(10.69)
(53.37)
59.46-
56,597
,935 58,044,628- - (2.49)- 445,540
445,540
40,764,353
,610 44.98
744.98
.42
493,080
493,080 37,947
340,105
340,105
7,681,048
351,992
351,992 8,542,352
209,296
209,296(10.08)
68.18
68.18
14,690,252
16.85
,407
471,644
471,64412,571,621
102,143
102,143361.75
361.75 3,065,244
117117
,799
,799 3,797
97,395
97,395(19.28)
20.95
20.95
3.79-
6,881,845
759,950
5,850,304-
17.63-
25.36
10.14
38.50-
4.08
20.45
5.72-
5.44-
8.21-
2.47
1.16
3.90-
712
220
659-
250,117
248,949
248,949 253.98
38.20
38.20
2,248,586
6.55
187
187
,502
,502 2,110,268
113,176
113,176 65.67
8,178,624
816,600
8,475,710
726,554
(3.51)
12.39
2.82
1.56
2.54
1.71
5.85
1.99
5.68
2.87
11.13
8.83
11.75
16.04
1.68
0.84
5.92
0.82
7
270
7
200
0.00
35.00
10,453,569
8.41
47.60
244,128 47
360,322 9,642,651
360,322
244,128
.60
3,318,756
,715
23.94
340,321 2,677
340,321
222,676
222,676
52.83
52.83
26,992,028
,244 38.32
5.33
132,758
132,75825,627
95,977
95,977
6,396,850
770,792
5,560,228
496,673
15.05
55.19
20.21
4.34
20.87
2.49
4.10
7.46
3.66
3.99
6.36
32.16
5.55
13.68
2.31
1.03
3.19
0.94
5,656
67
3,650
59
54.96
13.56
9,405,222
,937 1,247
28.35
1,247
29,207
393,573 7,327
393,573
29,207
.53.53
3.39
3.85
885,353
344,046
344,046
43,239,608
96,723
96,72341,660,405- -
1,778
13,442
5,523,623
20.74
23,898 4,574,938
23,898
29,207
29,207 (18.18)
(18.18)
5,285,030
78,071
78,071 5,243,983
72,936
7
0.78
7.04
7,639,778
797,710
7,674,207
562,256
(0.45)
41.88
2.18
0.35
7.63
1.02
1.22
0.62
5.47
5.66
13.74
8.30
0.55
4.93
0.83
3.33
856
148
852
116
0.47
27
.59
9,593
6,204
10,860
4,961
(11.67)
25.05
2,925,984
n.d
1,834,917
n.d
71,190,217
,710 88.54
21.37
,772 110.51
22.44
452,779 55,617
88.54 68,096,999
262,465
494,86458,657
494,864
262,465
452,779
215,084
215,084
110.51
14,238,022
265,547
265,54711,988,914
256,924
18.76
3.36
3,681,295
733,811
3,455,670
655,416
6.53
11.96
41.08
1.87
39.93
1.91
3.87
1.95
4.22
2.56
25.19
5.68 26.92
5.43
0.67
1.30
0.71
1.69
2,329
30
2,298
25
1.35
20.00
3,475
28,783
3,295
28,980
5.48
(0.68)
1,041,482
0
1,259,876
(17.33)
42,345 (100.00)
24,433,611
14.37
8,029,099
8,029,09921,364,186
5,807
5,807
,154
,154 38.26
38.26
7,071,732
5,229,646
4,476,103
4,476,103 3,880,696
3,880,696 35.22
15.34
15.34
11,289,734
37.37
5,199,035 14.82
7,141,972 9,832,318
7,141,972
5,199,035
37.37
2,032,592
46.25
7,098,201 1,389,773
7,098,201
3,209,048
3,209,048 121.19
121.19
11,893,454
887
887
,127
,12711,531,868
608,119
3.14
45.88
2,830,309
654,332
1,985,004
571,530
42.58
14.49
41.24 (17
43.02
13.17
.84)
13.02
1.30
11.62
(1.57)
27.16 (15.59)
23.29
13.93
3.48
0.63
3.76
1.21
193
280
182
257
6.04
8.95
41,144
2,947
31,703
2,062
29.78
42.92
2,256,636
64,484
2,834,935
34,094
864,816
359,802
(307
(307
,333)
,333) (331,113)
(331,113) 140.36
7.18
7.18
8,669,116
7,163,468
21.02
5,565,059
5,565,059 1,174,528
1,174,528373.81
373.81
2,627
,354
6.58
1,527
1,527
,231
,231 2,465,121
464,918
464,918228.49
228.49
3,341,063
49.87
275.10
1,752,263 275.10
6,572,825 2,229,381
6,572,825
1,752,263
3,037
,366 2,178,757
39.41
1,293,216
1,293,216
843,623
843,623 53.29
53.29
5,328,052
(577
(577
,736)
,736) 4,934,087
(577,736)
7.98
0.00
6,298,096
1,061,823
5,377
17.11
1,517,881
,755 (30.04)
.50
(575.53
.00) (277.70)
(74.61
.73) (276.13
.98)
7.78 72.54
10.15
74.43
0.87
1.18
1.13
0.55
1,070
516
1,085
518
(1.38)
(0.39)
6,703
1,459
7,538
1,953
(11.08)
(25.29)
n.d
2,758,580
685,098
50,709
50,709 215,440
97,419
97,419 218.00
(47(47
.95)
.95)
6,780,794
4,381,177
51.50
9,303,683
9,303,683 6,284,852
6,284,852 54.77
48.03
48.03 6,438,454
8,812,284
8,812,284 4,249,698
5,777
5,777
,350
,350 52.53
52.53
6,051,345
4,125,918
48.03
6,284,852 46.67
9,303,683 6,284,852
9,303,683
48.03
5,965,281
4,125,918
8,458,336 5,456,548
8,458,336
5,456,548 44.58
55.01
55.01
729,449
721,142
721,142 255,259
721,924 185.77
(0.11)
(6,014,587)
519,967
6.99
0.35
4.34
1.05
96.31
4.46 134.90
9.79
1.08
1.04
1.03
1.06
1,257
207
973
166
29.19
24.70
6,009
4,033
9,283
4,190
(35.27)
(3.75)
283,774
81,965
6.58
3.99
3.64 (19.25)
9.74 (13.74)
6.67
2.88
47.34 (460.66)
103.93
73.05
1.34
1.00
1.68
0.87
5,324
466
4,506
413
18.15
12.83
1,324
1,546
1,209
1,247
9.49
24.06
2.18
1.23
2.67
15.76
5.06
0.75
6.79
10.95
16.95
17.87
7.17 70.91
1.19
0.18
1.20
0.23
115
196
114
136
0.88
44.12
53,070
3,994
39,884
4,329
33.06
(7.76)
3.76
9.88
7.37
12.08
7.48
10.74
11.28
13.37
16.54
24.29
18.13 22.38
0.79
2.65
1.06
2.74
86
65
82
75
4.88
(13.33)
71,829
9,257
59,050
7,173
(1.89) (116.29)
2.07
(16.43)
(2.73)
(1.13)
3.06
(4.08)
(4.80) (54.29)
5.14
(10.24)
0.70
6.52
3.05
3.73
1.73
(1.35)
1.90
(6.26)
11.23
1.26
1.26
Construo
Alojamento,
Restaurao
e Similares
Alojamento,
Restaurao
e Similares
3,633,430
498,045 3,658,150
479,003 (0.68)
3.98
498,045
479,003
3.98
(57
,986)
16,472
16,472
26,542
26,697 (318.47)
(38.30)
26,697
(38.30)
Freight
Services
(Mo),
25
M
M SA Pblicos
4545 Manica
Empresa
Municipal
dede
Transportes
dede
Maputo,
E.PE.P
. .
Empresa
Municipal
Transportes
Pblicos
Maputo,
m
m
Transportes
e Armazenagem
Transportes
e Armazenagem
3,393,796
19.68
10,201
490,743 2,835,826
951,703 (48.44)
(48.44) (174,174)
(174,174)
490,743
951,703
(7,741)
231.78
98,071 (277
(277
.60)
98,071
.60)
27
7777
de Resseguros,
Moambique,
SA
24
m
M m SA
6969 Telecomunicaes
Mozre
- Moambique
Mozre
- Moambique
Resseguros,
SA
m
Comunicaes
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
3,140,772
480,632 3,239,631
412,102 (3.05)
16.63
480,632
412,102
16.63
76,172
5,929 (31.73)
327
5,929
327
.84.84
28
7878
e Sasol,
SA
26
mPolana,
6868 Petromoc
Hoteis
Polana,
SASA
Hoteis
m
Comrcio
Alojamento,
Restaurao
e Similares
Alojamento,
Restaurao
e Similares
3,026,391
452,651 2,609,342
416,784
452,651
416,784
15.98
8.61
8.61
29
7979
de
Moambique,
SA dodo
27
M Algodoeira
mAlgodoeira
7070 Toyota
SAN
- Sociedade
Niassa
- JFS,
SARL
SAN
- Sociedade
Niassa
- JFS,
SARL
m
Comrcio
Agricultura
e Pescas
Agricultura
e Pescas
2,937
,366
2,417
,651
432,714
402,953
432,714
402,953
21.50
7.39
7.39
30
8080
Sociedade
de
Desenvolvimento
do Porto de Maputo,
SA
28
M
mSASA
M
6262 MPDC
Mega
- -Distribuio
dede
Moambique,
Mega
- Distribuio
Moambique,
m
m
Transportes
Comrcio
Comrcio e Armazenagem
2,764,549
19.78
426,967 2,308,068
632,145 (32.46)
(32.46)
426,967
632,145
639,587
8.18
(7,456) 591,246
100,538 (107
(107
.42)
(7,456)
100,538
.42)
922,015
30.12
(7,456) 708,578
100,538 (107
(107
.42)
(7,456)
100,538
.42)
2,623,742
12.47
462,284 2,144,856
448,978 22.33
2.96 1,429,892
367
,778 1,271,356
393,876 (6.63)
(6.63)
462,284
448,978
2.96
367
,778
393,876
1,232,144
20.06
104,478 (11.54)
125,439 1,392,845
125,439
104,478
20.06
31
8181
Alliance
Seguros,
32
8181 Global
Banco
Procredit,
SASA SA
Banco
Procredit,
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
2,470,202
37(3.61)
.20
419,880 1,800,450
435,592 (3.61)
419,880
435,592
122,689
79,265
(15,364) (82,761)
(82,761)
(15,364)
181,436
117
,521
(18,437) (120,568)
(120,568)
(18,437)
1,669,942
1,442,630
850,236
1,474,230 1,066,572
1,491,749 56.57
(1.17) 1,045,964
1,045,964 1,087
1,087
,330 69.67
(3.80)
1,474,230
1,491,749
(1.17)
,330
(3.80)
1,213,729
736,510
(0.28)
1,276,319 64.79
1,272,773 1,276,319
1,272,773
(0.28)
32
8282
Musica,
Lda Lda
n.a
MCar
9898 Globe
Maputo
Car
Terminal,
Maputo
Terminal,
Lda
Comrcio
m
Transportes
e Armazenagem
Transportes
e Armazenagem
2,425,746
395,736 2,865,570
221,910 (15.35)
78.33
395,736
221,910
78.33
3,368
165,821
165,821
33
8383
Internacional
de Moambique
(SIM),MSA
29
MLda m
7272 Seguradora
Transportes
Carlos
Mesquita,
Lda
Transportes
Carlos
Mesquita,
Actividades
Financeiras
e de Seguros
Transportes
e Armazenagem
Transportes
e Armazenagem
2,368,000
19.23
385,525 1,986,000
386,788 (0.33)
(0.33)
385,525
386,788
399,000
4,994 392,000
3,695
4,994
3,695
34
8484
Moambicana
de Hidrocarbonetos, SA
30
m SARL
M m
7777 Companhia
Somotor,
Somotor,
SARL
Indstria
Comrcio
Comrcio
2,237
,464 1,968,365
384,218
357
,997
384,218
357
,997
879,433
27,542 809,670
25,262
27,542
25,262
35
8585
- Engenharia
e Construes,
n.a
8282 CETA
Matola
Cargo
Terminal,
SARL
Matola
Cargo
Terminal,
SARL SA
Construo
Transportes
e Armazenagem
Transportes
e Armazenagem
1,996,310
377
,694 1,495,107
310,309 33.52
21.72
377
,694
310,309
21.72
36
8686
Teixeira
Duarte
Engenharia
e Construes
Lda
37
M m
7474 Socremo
- Banco
dede
Microfinanas,
SASA Moambique,
Socremo
- Banco
Microfinanas,
Construo
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
1,942,184
,087
54.50
372,623 1,257
372,957
(0.09)
372,623
372,957
(0.09)
37
8787
Lalgy, LdaLda
35
8383 Transportes
Medis
Farmaceutica,
Medis
Farmaceutica,
Lda
Transportes
m
m
Comrcio e Armazenagem
Comrcio
1,755,563
362,041 1,541,742
310,253
362,041
310,253
13.87
16.69
16.69
38
8888
34
7979 Construa,
Dataserv,
Lda
Dataserv,
Lda
Comrcio
m
Comrcio
1,736,554
348,717 1,542,872
334,969
348,717
334,969
12.55
4.10
4.10
(123,478)
186,001
(142,013)
(142,013) (414,737)
(414,737) (166.39)
65.76
65.76
9,343
269,322
269,322
681,100
147
,023 492,721
80,822
147
,023
80,822
7,883,888
23.12
,288 32.94
668,028 6,403,338
705,848 (5.36)
(5.36) 3,825,060
164,796 2,877
94,384
74.60
668,028
705,848
164,796
94,384
74.60
5,068,638
30.14
(29.48)
394,936(29.48)
278,515 3,894,645
278,515
394,936
194,000
(16.74)
5,504 233,000
16,651 (66.94)
(66.94)
5,504
16,651
7,700,000
219,186 5,484,000
196,770 40.41
11.39 1,824,000
202,589 1,111,000
181,709 64.18
11.49
219,186
196,770
11.39
202,589
181,709
11.49
5,602,000
16.02
154,073 52.60
178,752 3,671,000
178,752
154,073
16.02
650,297
13,881 620,335
9,839
13,881
9,839
3,665,781- - 2,694,567
178,084 36.04- - 1,038,722
278,309
178,084
278,309
770,935
34.74
178,084 56.28
56.28
178,084
1,554,591
41.10
77.64
119,584 77
212,429 1,101,739
212,429
119,584
.64
3,294,694
28.63
26.71
322,605 2,561,332
188,734 70.93
70.93 2,026,942
287
,770 1,599,653
170,428 68.85
68.85
322,605
188,734
287
,770
170,428
1,024,781
0.64
76.40
138,660 76.40
244,598 1,018,297
244,598
138,660
(16,248)
28,759
28,759
38.23
81.91
81.91
4.83
41.08
41.08
4,437
,628 3,253,778
188,972
188,972
159,061
159,061 36.38
18.80
18.80
829,000
173,702
173,702
411.14
22.53
184,778
(53.80)
6,008 6,039.20
21.64
29.05
532,315
n.d
296,224
n.d
79.70(19.24)
(58.36)
1.36-
1.67-
150
334
150
248
0.00
34.68
39,910
2,108
40,310
1,946
(0.99)
8.32
509,096
73,871
630,387
177,406
16.11
48.17
0.86
5.47
0.87
8.96
735
85
711
62
3.38
37
.10
,327
7,480
6,641
4,446
10.33
68.23
209,566
0
225,661
0
(7.13)-
24.91 (62.64)
28.05
(29.64)
0.84
0.83
1.21
0.93
2,121
102
1,906
129
11.28
(20.93)
2,578
4,629
2,422
3,740
6.44
23.78
698,296
16,091
591,120
39,913
18.13
(59.68)
478,569
23,852
48.48
(12.88)
3.45
58.19
6,209,921
,549
4,539 5,197
4,539
55,656
19.48
(91.85)
3,483,047
512,861
2,872,471
378,673
21.26
35.44
6,779,501
115,231
115,231 6,183,818
119,744
9.63
(3.77)
2,493,120
503,838
2,242,963
353,156
11.15
42.67
27
.18
1.20
28.75
3.15
2.83
2.05
2.93
7.57
19.23
5.33
21.84
11.47
0.84
1.49
0.88
3.59
1,041
59
969
59
7.43
0.00
4,562
8,871
4,469
6,535
2.09
35.75
710,564
20,779
2,815,250
316,001
316,001 2,508,693
310,911
12.22
1.64
3,506,301
375,916
3,126,815
369,393
12.14
1.77
8.98
18.48
8.74
11.60
5.13
14.11
5.53
7.65
15.20
30.07
15.13
19.02
0.86
0.87
0.88
0.59
438
43
405
42
8.15
2.38
10,691
12,004
9,915
11,083
7.82
8.31
16,300
0
7.62
(5.44)
550,630
(97.04)
64,721 (100.00)
116.11
17.71
3.43
(0.45)
3.69
2.35
1.94
(1.03)
1.31
5.25
4.20
27
.50
2.20
1.17
1.76
1.25
325
328
330
331
(1.52)
(0.91)
13,252
1,528
5,824
1,349
127
.54
13.29
420,000
6,247
112,000
3,113
3,224,033
366,195
13.87
26.07
12.32
1.47
12.49
0.79
14.52-
18.06
1.76
29.53
11.87 32.87
5.56
0.71
1.40
0.76
1.68
1,014
192
914
153
10.94
25.49
4,482
2,902
4,442
2,743
0.90
5.77
1,000,278
16,646
531,068
15,560
88.35
6.98
711,336
(3.06)
102,956
102,956 100.40
100.40
2,269,913
78,008
78,008 1,543,034
50,074
47.11
55.79
2,749,804
472,134
2,083,799
372,696
31.96
26.68
31.58
5.59
25.82
(2.98)
39.98
8.66
32.93
(5.72)
69.10 (18.47)
60.89
43.63
2.94
1.39
2.25
1.66
611
120
577
100
5.89
20.00
7,024
4,546
6,055
4,360
15.99
4.26
490,801
17,088
286,888
4,153
71.08
311.46
996,831
342,732
342,732 1,054,818
326,260
(5.50)
5.05
4,021,343
409,183
3,678,563
376,380
9.32
8.72
(1.60)
3.31
0.73
5.57
(0.27)
1.27
0.12
2.28
(5.65)
4.92
2.55
8.53
1.14
0.45
1.37
0.43
2,400
529
2,530
458
(5.14)
15.50
1,474
1,009
1,522
1,153
(3.13)
(12.46)
227
,619
57,929
196,914
211,889
15.59
(72.66)
184,503
19.27
458,706
458,706 154,696
38,318 1097
.10
732,571
666,841
672,089
758,838
9.00
(12.12)
0.30
(35.49)
(0.27)
0.65
10.30 (23.22)
(0.49)
10.57
6.01 (914.88)
(7.47
(70.09)
1.08
0.61
0.98
0.20
476
1,443
329
1,455
44.68
(0.82)
8,432
339
7,125
728
18.34
(53.45)
n.d
594,565
n.d
3,482,769
445,875
3,064,622
402,156
13.64
10.87
1.66
5.28
1.48
16.07
0.89
1.16
1.01
0.91
1,524
19
1,526
19
(0.13)
0.00
2,060
25,296
2,145
21,690
(3.97)
16.63
1,677,048
n.d
813,273
n.d
106.21-
18.13 (73.27)
27.17
24.18
1.16
0.37
1.18
0.51
36
384
28
369
28.57
4.07
94,575
1,202
94,885
1,120
(0.33)
7.31
n.d
n.d
24.79
55.31
21.06
21.45
1.01
2.89
1.02
1.27
401
357
376
310
6.65
15.16
7,561
1,297
6,801
1,648
11.18
(21.27)
39,329
10,312
31,447
45,721
25.06
(77
.45)
689,578
206,321
206,321
821,101
(34.46)
166,784 1,252,878
166,784
488,024
488,024 (65.82)
(65.82)
69,133
69.39
9,945 249.49
249.49
9,945
12,570,842
13.37
309,90911,088,572
372,108(16.72)
(16.72)
309,909
372,108
4,497
,821 3,494,814
285,650
301,522 28.70
(5.26)
285,650
301,522
(5.26)
7,373,147
,645 (25.84)
24.39
(25.84)
333,383
247
,250 5,927
247
,250
333,383
5,052,314
46.03
247
,134 3,459,724
247
,134
332,797
332,797 (25.74)
(25.74)
84,319
71,164
18.49
7,510 (75,685)
(75,685) 109.92
109.92
7,510
1,275,548
873,970
1,160,301 1,184,827
1,184,827 45.95
(2.07)
1,160,301
(2.07)
1,076,169
166,549
166,549
675,928
163,141 59.21
2.09
163,141
2.09
943,682
597
,269 58.00
(4.97)
1,078,974
1,025,325 1,078,974
1,025,325
(4.97)
2,303,609
5.39
292,740 2,185,715
286,818 2.06
2.06 1,456,420
174,089 1,640,258
178,436 (11.21)
(2.44)
292,740
286,818
174,089
178,436
(2.44)
1,686,932
(5.12)
(43.80)
179,489(43.80)
100,869 1,778,036
100,869
179,489
538,000
0.75
4,238 534,000
7,924 (46.52)
(46.52)
4,238
7,924
106,146
18,762
85,375
368,843
1,465,000
422,968
4,699,413
.60)
783,544 6,491,234
783,544
582,272
582,272 (27
34.57
34.57
37
,404
261,962
261,962
542,556
22,990
3,671,201
461,647
1,378,160
(3.18)
(67
.26)
889,912 (67
291,367 1,423,381
291,367
889,912
.26)
28,351
308,328 38.39
71.85
308,328
71.85
300.01
(56.55)
3,166,000
497,871
20,639,601
13.78
843,074 (5.41)
959,26121,819,337
959,261
843,074
13.78
39,236
529,848
529,848
70,942
188,626
15.72
(5.30)
888,732
.85)
101,527 1,231,846
98,607(27
2.96
101,527
98,607
2.96
3,041
10.75
111,585 107
107
111,585
.83.83
n.d 1,384.42185,836
26.33
12.62
5,360,117
350,077 8,890,507
249,131(39.71)
40.52
350,077
249,131
40.52
3,368
231,904
231,904
2.61
11.00
2,012,190
65,880
65,880 1,592,828
58,499
1,562,662
(0.98)
750,073 1,578,077
928,227 (19.19
(19.19
750,073
928,227
54.39
84.71
84.71
7.08
4.28
2,098,000
40,434
40,434 1,813,000
42,697
21,636,432
1,301,99322,874,155
1,169,333 (5.41)
11.34
1,301,993
1,169,333
11.34
196,853
46.16
78,381 134,679
18,729 318.50
318.50
78,381
18,729
14.90
19.98
630,000
31.59
145,136
145,136 19.68
19.68
(9,119)
26,274 (78.18)
9.46
26,274
9.46
117
,107
34,757
34,757
(7,067
,288)
433,364
(20.40)
89.14
1,459,396
43.89
199,489 1,014,236
199,489
106,070
106,070 88.07
88.07
32,810
3,202 (191.31)
924.67
(176,098) 192,865
192,865
(191.31)
(176,098)
5,197
,695 5,160,927
62,659
62,659
38,726
0.71
61.80
331,867
134,975
134,975 276,702
105,853
19.94
27.51
144,527
292,088
120,053
296,012
20.39
(1.33)
616,677
185,711
185,711
407
,679
96,672
51.27
92.10
2,731,102
354,332
2,255,321
384,224
21.10
(7.78)
1,161,192
125,439 1,318,612
125,439
104,478
104,478 (11.94)
20.06
20.06
1,391,598
752,011
337
337
,045
,045 344,501
85.05
(2.16)
1,936,574
429,447
1,565,556
520,472
1,137
,783 1,220,938
679,321
67(5.52)
.49
1,153,553
1,153,553
1,220,938 (5.52)
456,213
201,456
201,456 330,062
215,430
38.22
(6.49)
2,288,666
326,988
1,682,929
380,951
6,718
4,427
233,568
233,568
182,749
51.75
27.81
(2,423,410)
156,649 (2,872,371)
97,950
15.63
59.93
927
,763
454,950
454,950
570,466
62.63
317
317
,334
,334 43.37
43.37
1,437
,916 1,614,747
60,263
60,263
140,390
140,390 (10.95)
(57(57
.07)
.07)
26,282
42.32
207
,554 26.21
26.21
207
,554
32,519
23,924
35.93
135.93
125,578135.93
296,280 125,578
296,280
32,519
60,588
60,588
23,924
35.93
125,578
125,578 (51.75)
(51.75)
2.35
1.44
1.82 (172.21
6.43
.68)
0.41
8.19
0.69
1.59
1.00
50.04
275.00
100.67
4.32
2.51
6.60
(6.22)
4.32
18.05
3.49
4.65
5.51
26.68
3.86
6.53
23.70
(17
.49)
23.14
(1.75)
25.62
15.90
24.38
(1.61)
27.57
22.39
59.67
(2.19) 132.23
34.10
1.23
2.93
0.96
3.77
517
137
475
145
8.84
(5.52)
5,574
3,028
4,392
4,390
26.90
(31.02)
518,725
13,103
144,311
12,663
259.45
3.47
35.99
(14.17)
4.97 (19.00)
4.40
(3.66)
7.35
(1.04)
7.43
(5.55)
31.21
30.65
(7.37) (36.36)
1.27
0.91
1.25
0.89
93
301
87
346
6.90
(13.01)
27
,447
1,298
21,824
1,130
25.77
14.87
1,102
0
1,635
0
(32.60)-
0.14
41.90
0.11
35.33
8.58
31.30
10.73
25.43
60.44
.38
79.66 137
65.91
1.15
4.32
1.10
1.65
22
40
18
27
22.22
48.15
121,287
11,813
318,397
9,863
(61.91)
19.78
700
179,914
68 24,647
929.41
727
.46
5,569,000
8.24
5,524,000
8.25
374,950 5,145,000
430,775(12.96)
(12.96)
125,800 5,103,000
163,092(22.87)
(22.87)
374,950
430,775
125,800
163,092
4,002,000
7.01
(16.81)
380,765 (16.81)
316,774 3,740,000
316,774
380,765
308,000
234,152
234,152
117
,000 163.25
282,908
282,908
(17(17
.23)
.23)
1,567
,000
58,176
58,176 1,405,000
50,010
11.53
16.33
1,858,000
356,957
1,491,000
355,502
24.61
0.41
16.85
1.30
19.74
0.96
7.16
1.33
7.62
0.86
26.85
9.23 29.63
7.67
17
.94 43.62
0.54
0.58
147
233
146
258
0.68
(9.69)
16,164
1,570
13,556
1,511
19.23
3.94
0
331,642
10.45
12.74
12.74
10,432,022
21.13
27
.44
265,404 8,612,283
310,254(14.46)
(14.46) 3,964,542
224,268 3,110,914
285,001(21.31)
(21.31)
265,404
310,254
224,268
285,001
5,465,042
,851
25.41
(26.70)
247
,499(26.70)
181,423 4,357
181,423
247
,499
599,454
181,341
181,341
301,089
99.09
246,904
246,904 (26.55)
(26.55)
4,966,981
83,981
83,981 4,254,432
62,754
16.75
33.83
758,990
332,575
627,104
321,023
21.03
3.60
39.30
7.17
41.13
7.06
8.43
10.38
9.40
8.14
19.07
37.54
21.82
47.20
6.61
1.24
10.33
1.15
22
103
20
102
10.00
0.98
106,546
3,748
100,942
3,672
5.55
2.09
1,094,139
9,762
100,073
31,338
131,043 116,289
116,289 219.33
12.69
131,043
12.69
142,052
33,592
192,940 173,783
173,783 322.88
11.02
192,940
11.02
3,079,429
455,104 2,302,178
332,143 33.76
37.02 2,571,678
338,968 1,760,613
243,638 46.07
39.13
455,104
332,143
37.02
338,968
243,638
39.13
2,782,360
35.73
(15.99)
50,532 (15.99)
42,450 2,049,857
42,450
50,532
2,657
,586
1,907
,748 (15.99)
39.30
42,450
42,450
50,532
50,532
(15.99)
297
,069
252,321
412,654
412,654
281,612
17.73
46.53
(1,854,258)
209,802 (1,461,515)
155,830 (26.87)
34.64
5.01
34.70
2.10
37
.48
3.25
28.79
1.36
35.01
36.43
24.84
37.75 45.88
0.97
7.99
0.92
4.82
2,188
189
2,700
185
(18.96)
2.16
817
2,020
1,107
1,682
(26.25)
20.09
98,854
44,692
92,187
24,071
7.23
85.67
135,377
48,962 159,634
33,746 (15.20)
45.09
48,962
33,746
45.09
229,027
70,203 249,166
52,105
70,203
52,105
1,657
,591 1,913,088
734,784
734,784
705,401
705,401 (13.36)
4.17
4.17
16,452
6,578
6,578
14,843
7,165
7,165
8.62
9.02 1,306,186
40,112 1,182,554
35,580
9.02
40,112
35,580
2,557
,977 2,679,158
1,045,855
967
,491 (4.52)
8.10
8.10 2,036,158
709,025
709,025 2,355,774
709,355
709,355(13.57)
(0.05)
(0.05)
1,045,855
967
,491
1,657
,591 1,914,148
4.01
734,100 (13.40)
763,503
763,503
734,100
4.01
9.52
17.35
17
.35
1,345,569
12.15
249,766 1,199,755
215,527 15.89
15.89
249,766
215,527
576,270
204,805
204,805
491,907
.15
186,570
186,570 17
9.77
9.77
1,155,009
15.15
182,633 12.61
210,294 1,025,647
210,294
182,633
15.15
1,146,544
4.81
175,263 1,093,880
137
,227 27
.72
27.72
175,263
137
,227
605,059
155,206
155,206
574,422
5.33
116,752
116,752 32.94
32.94
151,339
37.73
95,938 (13.68)
132,140 175,332
132,140
95,938
37.73
2,855,524
2.30
56,986 2,791,309
48,940 16.44
16.44 1,325,419
52,187
52,187 1,355,585
46,853
46,853 (2.23)
11.38
11.38
56,986
48,940
2,005,711
,795
2.97
11.40
29,604
32,978 1,947
32,978
29,604
11.40
23,134
14,034
14,034
76,656
14,834 109,277
10,308 (29.85)
43.91
14,834
10,308
43.91
126,077
22,404
22,404
167
,260
(24.62)
15,283
46.59
15,283
46.59
59,498
16,570
16,570
8721,617
,492 (32.00)
(23.35)
21,617
(23.35)
1,497
,376 1,552,200
314,201
206,863 (3.53)
51.89
314,201
206,863
51.89
43,684
9,901
9,901
54,915
(20.45)
13,984 (29.20)
(29.20)
13,984
82,830
424
424
71,391
350
350
Secure
Solutions,
LdaLda
38n.a G4S
n.a
Malala
Investment
Group,
Malala
Investment
Group,
Lda
Servios
Comrcio
Comrcio
1,403,117
12.02
312,928 1,252,573
100,981 209.89
209.89
312,928
100,981
41
9191
de Moambique,
43
M SARL
mSARLE.P.
9090 Aeroportos
Topack
Moambique,
Topack
Moambique,
m
m
Transportes
Indstria
1,346,020
303,065 1,045,097
257
,793 28.79
17.56 (167,560)
508 (183,739)
483
303,065
257
,793
17.56
508
483
42
9292
42
9191 Gespetro,
MAHS
- Mozambique
Airport
Handling
Services,
Lda
MAHS
- SARL
Mozambique
Airport
Handling
Services,
Lda
m
Comrcio
Transportes
e Armazenagem
Transportes
e Armazenagem
1,309,503
296,799 1,143,261
232,258
296,799
232,258
14.54
27.79
27.79
9,161
24,056
24,056
43
9393
Investimentos
e Trading, Lda
4084 Servitrade
m
84
Teledata
deServios
Moambique,
Lda
Teledata
de
Moambique,
Lda
Construo
Comunicaes
Comunicaes
1,274,567
10.48
287
,355 1,153,647
299,561 (4.07)
(4.07)
287
,355
299,561
n.d
9,620
9,620
44
9494
Carvo daMozambique,
Matola,
39n.a Terminal
m de
M Lda Lda
n.a
Business
Connexion
Business
Connexion
Mozambique,
Lda
m
m
Transportes
Servios
1,235,604
281,151 1,228,988
298,256
281,151
298,256
45
9595
Petroleum,
47
mLda
7575 African
Lalgy
Truck
Sales,
Lda
Lalgy
Truck
Sales,
Lda
m
Comrcio
Comrcio
1,211,762
272,181
272,181
916,017
32.29
365,369 (25.51)
(25.51)
365,369
18,747
14,415
14,415
46
9696
Banco,
SA
57
M
9292 Moza
Salvor
Hoteis
Moambique,
SARL
Salvor
Hoteis
Moambique,
SARL
Actividades
Financeiras
ee
deSimilares
Alojamento,
Restaurao
eSeguros
Similares
Alojamento,
Restaurao
1,197
,345
268,990
268,990
599,795
252,54 99.63
6.51
252,54
6.51
22,252
,379)
152
152 (67
(8,817)
(8,817) 133.03
101.72
101.72
Actividades
Comrcio
1,194,130
(7.76)
258,089 1,294,584
199,667 29.26
29.26 (603,228)
23,596
23,596 (732,337)
15,367
15,367
258,089
199,667
1753.55
.63
53.55
Servios
Servios
1,170,254
255,581
255,581
38.17
71.63
71.63
8,769
16,269
16,269
21,123
11,959
11,959
(8.08)
34.73
34.73
10.84
(8.19)
(8.19)
40
9090
16.02
21.14
21.14
131,442
424 136,754
350
350
424
(3.88)
21.14
21.14
8.81
5.18
5.18
524,699
508 301,725
483
483
508
73.90
5.18
5.18
2,682,190
260,495
260,495 2,320,801
255,640
255,640 15.57
1.90
1.90
605,427
91.76
7,586 315,713
2,815 169.48
169.48
7,586
2,815
821,783
11,851
11,851
443,010
85.50
5,235
5,235 126.38
126.38
3,192,371
203,395
203,395 2,370,365
204,295
204,295 34.68
(0.44)
(0.44)
2720,878
,570
20,878
15,897
73.43
33,293
33,293 (37
(37
.29)
.29)
1,141,140
1.50
238,970 1,124,317
262,828 (9.08)
(9.08) (179,941)
59,543
59,543 (118,643)
60,718
60,718 (51.67)
(1.94)
(1.94)
238,970
262,828
m
Comrcio
Servios
Servios
1,093,426
237
237
,520
,520
1,060,638
378,465
18,810
18,810
269,015
19,709
19,709
40.69
(4.56)
(4.56)
(127
97,439)
,591
97,591 (144,941)
89,978
89,978
12.07
8.46
8.46
1,181,836
285,815
34,815
131,534
131,534
141,319
94,717
94,717 (75.36)
38.87
38.87
995,204
43,124
43,124 918,548
41,289
8.35
4.44
1,610,476
326,628
1,596,956
5.03
29,199 1,520,470
29,199
22,778
22,778 28.19
28.19
849,813
24,008
24,008 843,513
19,335
0.75
24.17
1,439,554
297,785
206,192
(153)
(153) 121,268
(577)
70.03
73.48
12,169,870
13.06
(0.97)
350,141 (0.97)
346,76210,763,925
346,762
350,141
n.d
41,651
41,651
(66.15)
(66.15)
247
,572
179,180
22,353
22,353
13,024
13,024
1,569,870
314,897
12,944,202
,338 (0.79)
10.47
358,328
358,328 11,717
361,199
361,199
(0.79) 1,575,558
344,074
344,074 1,250,566
358,232
358,232 25.99
(3.95)
(3.95)
n.d
14,099
14,099
1753.55
.63
53.55
1,073,354
212,521 1,496.63
1.37
9.45
19.99
210,814
6,283
6,283 248.44
164.13
164.13
n.d
30,300
(68.25)
30,300
(68.25)
36,670
2,405
2,405 (82,052)
(11,374)
(11,374) 144.69
121.14
121.14
17,137
,475
215,428
190,560
39,472
39,472
734,570
16,595
16,595
14,176
(0.52)
25,139
25,139 116.56
116.56
(603,228)
34,700
34,700 (732,337)
22,598
22,598
17.70
20.98
856,331
9.09
172,628
172,628 21.82
21.82
794,019
2.44
164.13
6,283 164.13
16,595 775,142
16,595
6,283
896,411
11.58
5,705
5,705188.19
188.19
14,102
54,441
54,441
12,800
46.46
16,823 (14.31)
(14.31)
16,823
900,387
765,010
282,353
282,353 233,391
934,152
210,294
210,294
323,355
161.07
5,449
5,449170.77
170.77
1,000,211
16,441
16,441
4.47
47.86
47
.86
Servios
Alojamento,
Restaurao
e Similares
Alojamento,
Restaurao
e Similares
201,628
195,955
195,955
310,987
288,946
288,946
197
,250 (19.85)
2.22
244,471
244,471
(19.85)
151,005
265,757
265,757105.94
8.73
8.73
844,175
14,754
14,754
174,107
32,895
6.97
13.14
12.70
9.05
5.29
4.68
5.96
3.49
16.26 23.30
18.99
15.59
1.23
0.96
1.23
1.01
387
339
342
328
13.16
3.35
5,328
1,117
3,781
1,156
40.94
(3.38)
103,794
46,783
180,472
15,818
(42.49)
195.76
0.94
1.82
0.96
2.31
1.22
2.63
1.24
3.32
9.02 24.45
8.90
18.18
0.62
0.97
0.57
1.08
642
82
850
72
(24.47)
13.89
2,353
4,702
2,058
4,432
14.33
6.08
103,433
18,047
170,827
10,211
(39.45)
76.74
1,375,612
312,175
17
.07
4.63
4.41
4.25
7.08
3.08
6.69
8.46
9.99
7.51
8.01 23.62
12.65
35.15
17
.38
1.18
4.06
1.23
518
66
475
60
9.05
10.00
3,498
5,535
3,535
5,726
(1.05)
(3.33)
34,193
2,576
212,607
11,762
(83.92)
(78.10)
1,518,842
194,720
(5.22)
52.93
2.92
3.15
3.54
6.76
1.53
17
.37
1.97
28.57
5.16 113.29
7.11
45.69
0.83
1.79
0.89
2.06
339
1,619
330
772
2.73
109.72
4,476
263
4,828
330
(7.28)
(20.47)
158,944
0
312,869
n.d
(49.20)-
1,240,813
(311,777)
1,126,782
10.12
(100,631) (209.82)
5.90
0.14
5.70
0.35
8.28
2.58
7.96 (116.16)
50.59 (121.32)
71.34
6.13
1.15
0.89
1.53
0.87
13,911
20 12,929
118
7.60
(83.05)
105
4,535
97
1,712
7.57
164.98
n.d
n.d
1,013,577
317
,770
317
,770
743,488
348,733
348,733 36.33
(8.88)
(8.88)
774,332
11,566
11,566 953,413
11,058
(18.78)
4.59
1,339,439
322,885
1,174,907
257,310
14.00
25.48
(1.29)
0.14
(1.57)
0.13
(19.40)
.49)
4.49 (174.47
1.55
1.08
1.68
1.03
806
168
776
156
3.87
7.69
1,702
1,871
1,412
1,713
20.49
9.22
1,550,092
36,456
1,829,738
17,193
(15.28)
112.04
123,069
64,501
64,501
112,953
8.96
126,120
126,120 (48.86)
(48.86)
42,760
125,654
125,654
40,476
117
,316
5.64
7.11
1,214,654
242,358
1,067
,158
197,721
13.82
22.58
0.70
8.11
0.77
7.00
4.54
12.28
4.45
6.65
22.01 22.45
19.80
14.82
1.12
0.69
1.20
1.00
279
323
271
281
2.95
14.95
4,762
983
4,219
863
12.88
13.82
15,252
n.d
7,916
n.d
92.67-
941,208
.77)
175,697
175,697 1,303,037
147
147
,357
,357(27
19.23
19.23
1,786,540
6.53
183,691 (3.12)
195,677 1,844,077
195,677
183,691
6.53
833,063
195,677
195,677
697
,648
19.41
175,496
175,496
11.50
11.50
n.d
64,818
64,818
n.d
71,950
(9.91)-
n.d
271,321
n.d
253,305
7.11-
3.35-
10.11-
3.69-
11.85-
14.07- 53.35-
1.13
0.90
1.87
0.84
700
88
n.d
90
(2.22)-
3,229-
3,366-
(4.07)-
554,172
43,627
n.d
44,160
(1.21)-
761,170
194,021
194,021
448,886
195,115
195,115 69.57
(0.56)
(0.56)
1,982,948
11.72
(8.28)
102,500 (8.28)
94,015 1,774,956
94,015
102,500
1,209,423
109,381
109,381 595,408
101,795
756,299
59,394 (49.30)
19.90
49.00
2.70
25.69
0.94
18.96
3.73
13.32
1.38
40,901
280,637
280,637
28,719
257
257
,380
,380 42.42
9.04
9.04
213,267
75,658
5.16
170,177 181.88
178,950 170,177
178,950
5.16
1.55
5.30
1.40
4.60
6.03
4.99
8.48
6.33
135,272
2.07
126,555
126,555(64.58)
(64.58)
158,868
70,301
70,301
1,680,951
94,015 1,396,001
94,015
102,500
102,500 20.41
(8.28)
(8.28)
168,654
178,950
178,950
64,707
170,177
170,177 160.64
5.16
5.16
97
,720
109,996
109,996
(12.45)
.58)
0.17 (170.19
103.13
7.45
383,459
71,212
75,347
95,580
29.69
15.08
1,206,731
206,242
881,387
323,057
2.18
9.32
1,051,800
35,445
610,464
27,319
72.30
29.74
1.86 (11.23)
0.06
(3.49)
0.15
0.02
(0.78)
(0.89)
(1,635,271)
223,942 (1,550,427)
174,410
(5.47)
28.40
(50.52)
9.14 (56.57)
7.70
(3.51)
16.17
(4.53)
13.44
33.94
11.03
35.16
7.67
60.00
43.36 103.96
30.21
7,856,814
168,601
168,601 5,356,627
175,482
175,482 46.67
(3.92)
(3.92)
13,468,718
82.84
6738.92
.74
190,494 7,332,661
(16.94) 12,299,964
471,612 (16.94)
391,720 7,366,501
391,720
471,612
190,494
137
,121
137
,121 38.92
1,351,355
566,039
517,768
566,039 1,322,525
15,481,342
13.67
,820 11,272,061
12.12
33.78 12,637
41,206 33.78
55,12613,619,450
55,126
41,206
34,887
36,423
34,887
36,423 (4.22)
(4.22)
1,691,111
,158 (33.35)
90,767
73,148
24.09
90,767 2,537
509,629
43.14
169,841
169,841 19.36
19.36
668,818
184,399
184,399
462,005
44.76
147
147
,35,35 25.14
25.14
184,706
229,106
20.33
122,294 (19.38)
147
,158 122,294
147
,158
20.33
184,706
147
,158
147
,158
183,186
0.83
46,463
46,463 216.72
216.72
544,752
55,569
47,547
55,569 280,523
94.19
16.87
1,195,044
462,384
462,384 1,048,667
444,963
444,963 13.96
3.92
3.92
(749,650)
206,035
206,035 (569,709)
146,491
729,458
202,727
202,727
793,334
236,771
617,648
179,707
36.91
(36.16)
28.44
31.75
19.92
6.42
n.d
265,673
265,673
n.d
254,847
254,847
4.25
4.25
1,944,693
20.16
(14.11)
298,471 (14.11)
256,349 1,618,375
256,349
298,471
1,023,917
256,349
256,349
512,281
99.87
298,471
298,471 (14.11)
(14.11)
(31.58)
40.65
13,351
187
,292
14,798
13,946
6.11
26,358
26,358 (21,271)
(21,271) 223.92
223.92
551,696
66,287
66,287
409,103
34.86
47,718
47,718 38.91
38.91
511,815
52,402
52,402
368,686
33,222
33,222 38.82
57.73
57.73
466,846
39.64
(40.01)
47,718 (40.01)
28,627 334,317
28,627
47,718
466,846
13,845
13,845
334,317
39.64
20,474
20,474 (32.38)
(32.38)
84,850
37,660
37,660
74,787 3283.43
13.46
(1,183)
1,077
,070
216,921
963,092
125,232
11.83
73.22
0.92
0.95
7.99 (13.19)
436,137
418,964
4.10
423,437
407,345
3.95
398,467
352,568
13.02
398,467
352,568
13.02
37,670
66,396 (43.26)
131,847
110,316
19.52
2.95
4.43
7.17
(24.29)
31,274
62,042
(49.59)
53,998
95,378
(43.39)
1,358 883.50
199,494
(6.12)
21.16
8.75
10,063
9,297
8.24
18,968
18,968 (22,403)
(22,403)
184.67
184.67
1,400,970
77.36-
156,774
1.34
(44.71)
127
,155(44.71)
127
,155
138,066
44,827
44,827
17,172,453
6.29
2.89
145,892
145,89216,156,608
114,354
114,354 27
.58
27.58 10,804,977
123,530
123,53010,501,962
93,777
93,777 31.73
31.73
14,820,073
957
957
,759
,759 8,689,027
989,381
989,381 70.56
(3.20)
(3.20)
0
186,983
504,883
116.71
240 3,970.21
32.83
10.18
(15.77)
24.92 (10.55)
23.10 (15.06)
12.88 (11.31)
13.65
67
7.09
.18 64.32
5.53
0.45
2.06
0.32
1.90
283
84
270
76
4.81
10.53
4,469
3,514
5,219
7,849
(14.37)
(55.22)
640,688
0
n.d
0
21.66
14.02
18.74
19.95
0.24
1.57
0.44
1.51
64
63
56
64
14.29
(1.56)
20,196
4,286
20,585
6,894
(1.89)
(37
.82)
159,981
220
25,000
2,023
539.92
(89.12)
1.66
0.03
(5.87)
(1.79)
0.64
0.89
0.73
1.28
437
342
325
334
34.46
2.40
3,143
796
2,563
789
22.60
0.84
416,093
0
254,054
0
63.78-
(28.53)
28.79 (34.13)
23.47
0.85
3.54
0.93
2.57
865
95
878
76
(1.48)
25.00
1,370
3,019
1,489
2,980
(71.29
.97)
n.d
6,777
n.d
5,451
24.33-
3.62
1.25
2.52
3.17
23
0
15
113
53.33-
61,592
4,524
78,231
1,961
(21.27)
130.68
19,452
0
17,596
0
10.55-
27.28 52.29
23.25
33.78
1.04-
0.85-
720
136
690
148
4.35
(8.11)
1,619
1,683
1,688
1,940
(4.12)
(13.24)
124,126
14,046
203,949
7,472
(39.14)
87.98
12.61 (230.89)
13.26
104.00
1.10
3.78
1.10
1.62
112
74
103
68
8.74
8.82
10,171
3,345
8,612
2,878
18.11
16.24
0
n.d
0
n.d
14.81
60.10 118.34
1.06
1.1
68
63
7.94
16,193
22,238
(27.18)
3.28
10.91
18,235
16,821
6,717
(56.35)
1.82 (46.95)
2.27
28.61
1,057,622
807,429
30.99
94,242
100,781
(6.49)
136,985
140,478
(2.49)
1,926,151
1,295,917
48.63
1,905,956
1,274,317
49.57
1,549,921
1,014,181
52.82
588,399
388,833
51.32
376,230
281,736
33.54
429,592
367,913
16.76
8.91
12.48
4.89
7.78
28.65 45.32
3.24
53
51
Televisa - Sociedade Tcnica de Obras

O e Projectos, Lda
Servios
1,056,556
774,269
36.46
18,970
18,650
1.72
41,368
30,065
37.60
1,099,061
1,067,023
3.00
949,137
956,506
(0.77)
1,021,610
999,217
2.24
919,058
871,491
5.46
77,451
67,805
14.23
931,439
696,208
33.79
1.80
2.41
1.73
1.75
26.12 28.47
1.03
1.10
407
330
23.33
54
54
Premier
m Group, Lda
m
Comrcio
1,052,802
692,969
51.93
8,542
3,403
151.01
12,610
7,768
62.33
927,748
766,778
20.99
442,176
337,804
30.90
893,954
753,260
18.68
893,954
753,260
18.68
87,794
956,679
685,201
39.62
0.81
0.49
0.92
0.44
16.86 28.80
0.49
0.45
603
566
55
56
TCNICA Industrial, SA
m
Comrcio
1,045,921
631,461
65.64
13,918
16,063
(13.35)
26,749
18,347
45.79
425,051
209,302 103.08
214,778
198,482
8.21
324,163
120,046
170.03
324,163
120,046
170.03
100,888
1,023,900
641,233
59.68
1.33
2.54
3.27
7.67
14.64 20.06
0.66
1.65
177
173
VN
VN
por Trabalhador
61,592
78,231
Revenue
R
per
Employee
m(21.27)
26,544
22,238
Austral, Lda Tursticos,

22
M -Africa
Turvisa
Empreendimentos
Lda
6565 C.M.C.
Turvisa
- Empreendimentos
Tursticos,
Lda
34.46
878
33,350
18,235
26
7676
Hollard Moambique
Companhia
de Seguros , SARL
M m
m
325
865
25,655
16,193
25
7575
49
437
0.93
15.05
10.91
4,171,989
2738.18
.70
1,317
56.18
18.60
500,078 3,266,935
361,906 38.18
27,944 843,526
(10,790) 358.98
358.98 1,428,993
27,944 1,204,924
(10,790) 358.98
358.98
500,078
361,906
27,379
,944
(10,790)
27,944
(10,790)
52
0.73
0.85
(3.67)
7.94
m
m
Transportes
e Armazenagem
Transportes
e Armazenagem
m
m
0.64
525
55
de Moambique,
23
M Lda
m
DHL
Moambique,
7676 Cornelder
DHL
Moambique,
Lda SA
CMA
Mozambique,
Lda
MCGM M
M m
(5.87)
1,281
63
24
7474
36
1.66
(28.53) (34.13)
604
61
532,216
9.39
7,381 486,525
3,135 135.44
135.44
7,381
3,135
51
539.92
1,234
68
149,000
(2,263)
(2,263)
977
,416
11.87
169,807
169,807
39.88
39.88
25,000
1.71
1.1
4,320,590
10.91
500,544 3,895,490
396,412 26.27
26.27
500,544
396,412
da- Empreendimentos
Regio
de Maputo,
SA
46
M
8989 guas
Avenida
Tursticos
e Hoteleiros,
Lda
Avenida
- Empreendimentos
Tursticos
e Hoteleiros,
Lda
159,981
0.75
3.28
4,340,000
503,374 1,951,000
439,619 122.45
14.50
503,374
439,619
14.50
Lda
44111 Unicomo
mMoambique,
M m Lda
111
Cowi
Moambique,
Cowi
Moambique,
Lda
(1.89)
1.10
1.06
Indstria
Comrcio
Comrcio
49
9999
20,585
0.79
3.24
Actividades
Servios
50
100
100
20,196
(8.62)
(0.73)
60.10 118.34
Sabco
SA
21
M m
Tropigalia,
Lda
7171 Coca-Cola
Tropigalia,
Lda (Moambique),
899,657
202,959 30.08
25.93
202,959
25.93
14.29
(6.04) (14.38)
28.65
45.32
- Empresa
deSA
Seguros, SA
31
m Auditores
m eMoambicana
m
KPMG
Consultores,
SA
6767 Emose
KPMG
Auditores
eM
Consultores,
Mozambique,
Lda Associados,
48101 Grindrod
M- Consultores
101
CONSULTEC
Lda
CONSULTEC
-m
Consultores
Associados,
Lda
56
(2.05)
7.78
37,283,869
2.95
35,920,213
1.94
189,48235,236,507
363.60
40,872363.60
189,48236,216,497
189,482
40,872
189,482
40,872
40,872 363.60
363.60
48
9898
64
(0.63)
14.81
44,063,370
3.92
(2.56)
304,71342,400,315
160,616 89.72
89.72 30,335,478
282,25331,132,666
146,730 92.36
92.36
304,713
160,616
282,253
146,730
Bank
Moambique,
SA
50
M m
47
Intermetal,
SASA
9797 103
103 Barclays
Intermetal,
0.44
(0.62)
4.89
4,506,316
510,157 4,050,438
465,470
510,157
465,470
0.54
(5.74)
(5.74)
0.24
(6.89)
7.17
4,585,240
5.99
0.23
1,764,905
0.38
523,411 4,325,977
385,580 35.75
35.75 1,246,439
6,2601,243,527
12,154 (48.49)
(48.49)
12,133 1,758,155
28,801 (57
(57
.87)
523,411
385,580
6,260
12,154
12,133
28,801
.87)
m
Comercial
de Moambique,
SARL
33
m Moambique
M (ex.Select
m(ex.Select
39
ESES
Contact
Center
Vedior
Moambique)
8989 102
102 Entreposto
Contact
Center
Moambique
Vedior
Moambique) Comrcio
Servios
Servios
18.74
(1.50)
12.48
Indstria
Servios
Servios
1.79
35.16
35.16
21.66
Liquidez
3.62Geral
G2.52
Current
C
R - Ratio
(0.85)
4.43
Actividades
Servios
13.67
7.32
7.32
n.d
(0.50)
8.91
75,957
,899 62,896,678
.07
613,26623,179,888
2.22 41,044,752
651,109 20.77
665,592
601,457 77
1.96
665,592
651,109
2.22
613,266
601,457
1.96
3,041
10.75
78,402 111.50
111.50
78,402
n.d
640,688
(10.27)
2.95
82,167
,820 68,094,227
661,053
661,053
706,764
706,764 20.67
(6.47)
(6.47) 34,571,939
509,373
509,37328,101,342
556,847
556,847 23.03
(8.53)
(8.53)
54.78
81.44
81.44
554,172
(14.37)
14.10
16.76
9.84
10.47
79.85
79.85 1,679,924
(45,410)
(45,410) 1,520,733
5,478
5,478(929.03)
(929.03)
84,465
50.35
18,729 316.96
316.96
18,729
5,219
3.58
19.52
1,713,794- - 1,428,011- - 20.01- -
55,165
57
,710
(4.41)
29,122 (73,685)
(73,685)
139.52
29,122
139.52
4,469
18,064,351
429,592 15,832,569
367,913
1,448,038
,413
5.90
99,102 1,367
37,637 163.31
163.31
99,102
37,637
126,991
78,092
78,092
4.81
35,046,000
131,847 33,836,000
110,316
3,455,417
3,398,217
1.68
64.83
1,410,002 64.83
2,324,049 1,410,002
2,324,049
52,002
25,366
25,366
270
1,525,267
(5.86)
376,230
376,230 1,620,297
281,736
281,736 33.54
1,713,794
1,428,011
37.24
5,845,215 20.01
8,022,058 5,845,215
8,022,058
37.24
72,000
106.94
10,321 (121.93)
(121.93)
10,321
n.d
283
38,077
(1.88)
37,000
,670
37,67038,806,000
66,396
66,396(43.26)
2,323,111- - 2,386,146- - (2.64)- -
14.31
74.60
74.60
700
9,821,000
398,467 6,271,000
398,467
352,568
352,568 56.61
13.02
13.02
4,361,038
4,273,113
2.06
4.81
2,788,119
2,788,119 1,570,868
1,570,868 77
.49
77.49 1,249,671
541,808
541,808 1,192,282
337
337
,185
,185 60.69
60.69
404,618
94,264 353,961
53,988
94,264
53,988
1.87
0.32
13,875,016
,363 30.31
588,399 8,892,498
52.82 11,208,554
1,014,181
1,549,92110,647
1,549,921
1,014,181
52.82
588,399
388,833
388,833 26.05
51.32
51.32
99,533
(90.61)
66,180
66,180 306.95
306.95
11.26
9.60
9.60
1.13
0.45
85,428,239
760,411
760,41170,646,624
519,389
519,389 20.92
46.40
46.40 45,305,898
590,125
590,12539,554,787
364,554
364,554 14.54
61.88
61.88
10.89
11.71
11.71 3,894,916
30,711
30,711 3,501,704
30,330
30,330
30,725
(76.45)
181,834
181,834 130,475
58,564
58,564 210.49
210.49
Rent
R VN
VNRent.
R A.ALiq. Rent.
R C.CP.
21.16Profits/
19.92 33.94
60.00 Funds
103.96
Rent.
R 35.16
Net
N S/hs
Revenue
R
Asset
A
(%)%
(%)% (15.06) (11.31)
(%)% 27.28 23.25
(15.77) (10.55)
151
51
32,261,000
(6.87)
(1,026.53)
1,060,638
1,060,63834,640,000
1,400,970
1,400,970 (24.29)
(24.29)(3,312,000)
31,274
31,274 (294,000)
62,042
62,042
(49.59)
(49.59) (3,312,000)
53,998
53,998 (294,000)
95,378
95,378(1,026.53)
(43.39)
(43.39)
67.09 64.32
13,514 549.65
89,256
13.03
61
55
8.40
2,932
The sixteenth edition / A dcima sexta edio /35.21

65
2,867
2,361
21.46
60,942
45,071
6.54
1,801
2.31
5,977
1,634
10.21
17,925
361,703
(95.04)
3,671
62.80
3,666
4,511
(18.73)
The following tables present the ranking of the Top Medium Companies in
Mozambique in 2013 according to the methodology adopted.
As tabelas que se seguem apresentam o ranking das Mdias Empresas

com maior Volume de Negcios de acordo com a metodologia adoptada.
Rank
Rank
Empresa
Empresa
Company
Company
Sector
Sector
de Actividade
de Actividade
Activity
Activity
Vol.Vol.
de Neg.
de Neg.
Revenues
Revenues
3
(103(10
Meticais)
Meticais)
20132013
20132013
20122012
%13/12
%13/12
Resultados
Resultados
Lquidos
Lquidos
NetNet
Profits
Profits
3
(103(10
Meticais)
Meticais)
20132013
Resultados
Resultados
Antes
Antes
dosdos
Impostos
Impostos
Income
Income
Before
Before
Taxes
Taxes
3
(103(10
Meticais)
Meticais)
Activo
Activo
Lquido
Lquido
NetNet
Assets
Assets
3
(103(10
Meticais)
Meticais)
Activo
Activo
Corrente
Corrente
Current
Current
Assets
Assets
3
(103(10
Meticais)
Meticais)
20122012
%13/12
%13/12
20132013
20122012
%13/12
%13/12
5,672
5,672 (20.75)
(20.75)
168.27
168.27
93,711
93,711 34,931
34,931
56,674
56,674
9,1199,119
521.49
521.49
(5,236) 86.4186.41
(711)(711) (5,236)
25,087
25,087 26,288
26,288(4.57)(4.57)
20122012
%13/12
%13/12
20132013
20122012
%13/12
%13/12
4,495
4,495
20132013
Forum
Forum
Hotis
Hotis
e Turismo,
e Turismo,
Lda (Hotel
Lda (Hotel
Sta Cruz)
Sta Cruz)
Alojamento,
Alojamento,
Restaurao
Restaurao
e Similares
e Similares
27,593
27,593 24,925
24,925 10.7 10.7
4,495
4,495 5,672
5,672(20.75)
(20.75)
Levas
Levas
Flor, Flor,
Lda Lda
Indstria
Indstria
27,592
27,592 23,710
23,710 16.4 16.4
(711)(711) (5,236)
(5,236)86.41
86.41
Tecnicol
Tecnicol
Moambique,
Moambique,
Lda Lda
Servios
Servios
27,070
27,070 25,530
25,530
6.0 6.0
749 749
839 839(10.73)
(10.73)
1,1021,102
1,234
1,234 (10.70)
(10.70)
Howard
Howard
JohnsonAssociates
JohnsonAssociates
Mozambique
Mozambique
Servios
Servios
25,733
25,733
8,866
8,866 190.2190.2
1,0131,013
98 98933.67
933.67
7,5177,517
MC -MC
Arquitetos,
- Arquitetos,
Lda Lda
Servios
Servios
23,532
23,532 12,150
12,150 93.793.7
(897)(897) (5,795)
(5,795)84.52
84.52
Telescan
Telescan
- Telecomunicaes
- Telecomunicaes
e Sistemas,
e Sistemas,
Lda Lda
Comunicaes
Comunicaes
23,458
23,458 51,850
51,850 (54.8)(54.8)
(448)(448) 1,6131,613(127.77)
(127.77)
2,492(117.98)
(117.98)
(448)(448) 2,492
(25.13)
(25.13)
52,307
52,307 69,861
69,861
Somonav,
Somonav,
Lda Lda
Servios
Servios
(9,572) 1,359
1,359
(804.34)
(804.34)
23,043
23,043 30,190
30,190 (23.7)(23.7) (9,572)
1,359(804.34)
(804.34)
(9,572)
(9,572) 1,359
Incala,
Incala,
Lda Lda
Indstria
Indstria
22,707
22,707 18,592
18,592 22.122.1
1,240
1,240
1,024
1,024 21.0821.08
4,5734,573
298.36
298.36 3.94 3.941.11 1.1110.3210.321.52 1.52
(98.21)
(98.21)
(14.24)
(14.24) 0.25 0.250.09 0.09
85 85 85 85 0.00 0.00
(4,172)
(4,172)
497.20
497.20
(5,069)
(5,069) (4,171)
(4,171)
(21.53)
(21.53)
17,94536.1336.13 (3.81)(3.81)
(47.70)
(47.70)(7.80)(7.80)
24,429
24,429 17,945
277.87
277.87 0.30 0.300.13 0.13
(92.57)
(92.57)19.4219.42
14 14 12 1216.6716.67
28,378
28,378 47,709
47,709
(40.52)
(40.52)
(36.49)
(36.49)
29,227
29,227 46,023
46,023
22,073
22,073 39,861
39,861(44.63)
(44.63)
23,080
23,080 23,838
23,838(3.18)(3.18)
47,936
(58.35)
(58.35) (1.91)(1.91)3.11 3.11(0.86)(0.86)2.31 2.31 (1.91)(1.91)7.14 7.14 1.29 1.291.20 1.20
19,964
19,964 47,936
(49.59)
16 16 19 19(15.79)
(15.79) 1,3401,340 2,6592,659(49.59)
(21.10)
(21.10)
39,094
39,094 49,546
49,546
37,851
37,851 19,750
19,75091.6591.65
40,504
40,504 41,384
41,384(2.13)(2.13)
2,6702,670
9,1909,190(70.95)
(70.95)
(1,410)
(1,410) 8,1628,162
(117.28)
(117.28)
29,274
29,274 28,156
28,1563.973.97
16,339
16,339 14,646
14,64611.5611.56
(12.98)
(12.98)
323 323
281 281
323 323(12.98)
(12.98)
28,993
28,993 27,833
27,833 4.17 4.17
(34.20)
(34.20)
10,489
10,489 15,941
15,941
8,680
8,680 14,646
14,646
(40.73)
(40.73)
319 319
(496)(496)164.31
164.31
662 662
(109.52)
(109.52)
(216)(216)
662 662(132.63)
(132.63)
11 11
PROMOTUR
PROMOTUR
- Residencial
- Residencial
Hoyo-Hoyo,
Hoyo-Hoyo,
Lda Lda
Alojamento,
Alojamento,
Restaurao
Restaurao
e Similares
e Similares
19,640
19,640 20,400
20,400 (3.7) (3.7)
2,3742,374 5,845
5,845(59.38)
(59.38)
3,526
3,526
5,845
5,845 (39.67)
(39.67)
10.4710.47
17,172
17,172 15,545
15,545
12 12
Tracus
Tracus
Arquitectos,
Arquitectos,
Lda Lda
Construo
Construo
1,575 3,049
3,049(48.34)
(48.34)
18,418
18,418 32,053
32,053 (42.5)(42.5) 1,575
1,575
1,575
3,049
3,049 (48.34)
(48.34)
9,545
9,545
2,879
2,879
102.46
102.46
1,422
1,422
29.06
29.06
7,3967,396
20122012
%13/12
%13/12
20132013
20122012
%13/12
%13/12
567 567
Resultados
Resultados
Antes
Antes
dosdos
Impostos
Impostos
Income
Income
Before
Before
Taxes
Taxes
3
(103(10
Meticais)
Meticais)
20132013
20122012
%13/12
%13/12
Indstria
Indstria
de Construes
de Construes
Sotomane,
Sotomane,
Lda Lda
Indstria
Indstria
14,132
14,132 10,940
10,940 29.229.2
407 407 39.31

39.31
834 834
645 645 29.3029.30
AutoAuto
Rectificadora
Rectificadora
Indstria
Indstria
12,600
12,600 13,091
13,091 (3.8) (3.8) 1,1861,186 1,898
1,898 (37.51)
(37.51)
1,230
1,230
1,9141,914 (35.74)
(35.74)
Siesta
Siesta
- Fbrica
- Fbrica
de mveis,
de mveis,
colchoaria,
colchoaria,
Lda Lda
Indstria
Indstria
12,560
12,560 13,421
13,421 (6.4) (6.4)
(138)(138)
(3) (4,487
(3) (4,487
.27) .27)
297 297
84 84254.08
254.08
Perfect
Perfect
Clean,
Clean,
E.I. E.I.
Servios
Servios
12,141
12,141
5,423
5,423 123.9123.9
298 298
288 288 3.473.47
439 439
423 423 3.78 3.78
FerroFerro
& Ferro,
& Ferro,
Lda Lda
Servios
Servios
11,835
11,835 16,717
16,717 (29.2)(29.2)
14 14
1 1,300.00
1 1,300.00
26 26
44 44 (40.91)
(40.91)
Autrase,
Autrase,
Lda Lda
Indstria
Indstria
8,670
8,670
4,953
4,953 75.075.0
140 140
145 145 (3.45)(3.45)
206 206
OLOGA
OLOGA
- Sistemas
- Sistemas
Informticos,
Informticos,
Lda Lda
Servios
Servios
8,005
8,005
7,3917,391
31 31
21 21 47.6247.62
31 31
Linkup
Linkup
Recruitment
Recruitment
Services
Services
Servios
Servios
7,4497,449
6,666
6,666 11.7 11.7 819.00
819.00
843 843 (2.85)(2.85)
Carpintaria
Carpintaria
Mutende
Mutende
243 243186.31
186.31
(4) (4) (1,220)

(1,220)99.67
99.67
281 281
(34.10)
(34.10)
11,151
11,151 16,922
16,922
25,206
25,206 28,626
28,626(11.95)
(11.95)
11,151
11,151 16,922
16,922(34.10)
(34.10)
(687)(687) (1,376)
(1,376)
50.0750.07
115 1,008.70
115 1,008.70
1,2751,275
115 1,008.70
115 1,008.70
15,867
15,867 15,429
15,429 2.84 2.84
30 30
(100.00)
(100.00)
4,0764,076 3,5003,50016.4616.46
155.14
155.14
2,336
2,336
5,4695,469 3,8963,89640.3740.37
209 20945.1245.12
0.00 0.00
0.00 0.00
303 303
(10.61) 26,671
1,8101,810 2,0252,025(10.61)
1,041.74
1,041.74
26,671 2,3362,336
(74.22)
1,7811,781 6,9086,908(74.22)
387 387(23.67)
(23.67)
0.00 0.00
293 293 11.5911.59
3,1193,119
467 467
19,526
19,526
1,2751,275
327 327
(22,700)
197.75
197.75 1.49 1.49(2.33)(2.33)3.04 3.04(3.11)(3.11)
22,189
22,189 (22,700)
(38.83)
(38.83)
(21.42)
(21.42) 0.78 0.780.87 0.87 44 44 48 48 (8.33)(8.33)
12.5412.54
16,277
16,277 14,463
14,463
295 295
74 74 65 6513.8513.85
(342)(342)
18.7118.71
594 594(11.95)
(11.95)
n.d n.d
28,83130.4730.47(41.54)
(41.54)4.50 4.50
37,615
37,615 28,831
(283.53)
(283.53)
17.7617.7614.1814.182.15 2.15 78 78 78 78 0.00 0.00
(24.48)
(24.48)2.74 2.74
(981)(981)
32.5232.52
523 523
n.d n.d
17,54220.9420.94 5.11 5.115.15 5.15 3.96 3.963.40 3.40 4.08 4.083.50 3.5058.1358.13
21,215
21,215 17,542
45.3445.34
(278)(278)
1,7641,76478.9778.97
5,960
5,960
18,217
18,217
(662)(662)
3,1573,157
192 192 28.65

28.65
Activo
Activo
Lquido
Lquido
NetNet
Assets
Assets
3
(103(10
Meticais)
Meticais)
20132013
20122012
%13/12
%13/12
7,4817,481
3,794
3,79497.1897.18
18,709
18,709 18,008
18,0083.893.89
2,660
2,660
-
2,528
2,5285.215.21
-
Activo
Activo
Corrente
Corrente
Current
Current
Assets
Assets
3
(103(10
Meticais)
Meticais)
20132013
20122012
%13/12
%13/12
9,0439,043
115.92
115.92 (0.32)(0.32)6.76 6.76(2.19)(2.19)
46.5546.5520.3220.32
(98.39)
(98.39) 3.69 3.691.93 1.93
14 14 13 13 7.69 7.69
15,944
15,944 14,647
14,647 8.86 8.86 12.0912.09
28.6528.6513.8213.8237.6037.6015.1715.17
46.6946.6912.7712.77
125.77
125.77 25 25 25 25 0.00 0.00
16,241
16,241 27,646
27,646
(41.25)
(41.25) 8.55 8.559.51 9.5116.5016.50
41.2241.2241.5841.58
174.23
174.23
- 77-.8777.87
12 12 10 1020.0020.00
25 25
(46.33)
5,8115,811(46.33)
426 426 9.69 9.69
n.d n.d
n.d n.d
1,4621,462 1,0301,03041.9341.93
0.00 0.00
0.00 0.00
770 770 2.05 2.05
0.00 0.00
0.00 0.00
786 786
(73.88)
1,6741,674 6,4116,411(73.88)
(56.64)
1,2241,224 2,8232,823(56.64)
Passivo
Passivo
Total
Total
TotalTotal
Liabilites
Liabilites
3
(10 3(10
Meticais)
Meticais)
20132013
20122012
%13/12
%13/12
Passivo
Passivo
Corrente
Corrente
Current
Current
Liabilities
Liabilities
3
(103(10
Meticais)
Meticais)
20132013
20122012
%13/12
%13/12
4,9154,915 1,2281,228
300.24
300.24
13,298
13,298 10,295
10,29529.1729.17 4.01 4.013.72 3.72 7.58 7.58
10.7310.7318.4618.46
66.2966.29
- 150 150 40 4025.0025.00
314 314
547 547
((42.59)
((42.59)
0.00 0.00
17,029
17,029 16,365
16,365 4.06 4.06
11,370
11,370 11,177
11,177 1.73 1.73 9.41 9.41
14.5014.50 6.34 6.34
10.5410.54 7.10 7.10
10.0910.09 38 38 38 38 0.00 0.00
12.0512.0510.3610.36
332 332
345 345 (3.75)(3.75)
(1.88)(1.88)
0.00 0.00
10,271
10,271 10,277
10,277(0.06)(0.06)
8,8728,872
6,9886,98826.9626.96
(7,611)
(7,611) (7,749)
(7,749)1.78 1.78
12,454
12,454 13,438
13,438 (7.32)(7.32) (1.10)(1.10)
(0.02)(0.02)(5.17)(5.17)
(0.12)(0.12) 1.79 1.790.04 0.04 0.12 0.120.11 0.11 25 25 23 23 8.70 8.70
523 523
584 584(10.31)
(10.31)
21.7121.71
n.d n.d
11,702
11,702
517 517
350 35047.6747.67
33.3133.31
816 816 1,0791,079(24.32)

(24.32)
26.1826.18
1,098
1,098
-
785 785
39.81
39.81
-
- 30 30 17 1776.4776.47
4,236
4,236
3,4133,413
24.1124.11
4,2274,227 2,5092,50968.4768.47
4,2274,227
2,5092,50968.4768.47
3,6223,622 3,4853,485 3.93 3.93
1,593
1,593
1,1791,179
35.1135.11
1,8091,809 1,4451,44525.1925.19
1,8091,809
1,4451,44525.1925.19
1,264
1,264
1,240
1,240 1.94 1.94
2,855
2,855
2,081
2,08137.1937.19
2,706
2,706
1,956
1,956
38.34
38.34
695 695
243 243186.31
186.31
3,693
3,693
3,444
3,444 7.22 7.22
2,338
2,338
1,990
1,99017.4917.49
701 701 1,1481,148

(38.92)
(38.92)
701 701
1,1481,148(38.92)
(38.92)
2,9922,992 2,2962,29630.2930.29
5,4865,486
30 30 (1,220)
(1,220)102.46
102.46
1,059
1,059
655 65561.6861.68
560 560
367 367
52.59
52.59
2,5772,577 2,1692,16918.8118.81
154 154
1,7351,735(91.12)
(91.12)
(1,519)
(1,519) (1,514)
(1,514)(0.33)(0.33)
139 139
59 59
135.59
135.59 (0.06)(0.06)
(328.84)
(328.84)(0.38)(0.38)
(186.26)
(186.26)0.26 0.26
161.16
161.16 3.64 3.640.21 0.21
4,1734,173 3,9273,927 6.26 6.26
4,437
4,43721.1021.10
5,373
5,373
4,437
4,43721.1021.10
8,7418,741
9,088
9,088(3.82)(3.82)
125.00
125.00
100 100
25.00
25.00
13 13
F.M. FSimes,
.M. Simes,
SA SA
Servios
Servios
5,428
5,428
6,2766,276 (13.5)(13.5)
348 348(53.45)
(53.45)
515 515 (53.59)

(53.59)
1,992
1,992
1,902
1,9024.734.73
1,992
1,992
1,902
1,9024.734.73
14 14
SOTEL
SOTEL
- Sociedade
- Sociedade
Tcnica
Tcnica
de Electricidade,
de Electricidade,
Lda Lda
Servios
Servios
5,266
5,266
4,407
4,407 19.5 19.5
58 58
31 31 87.1087.10
62 62
52 52 19.2319.23
15 15
MC Consulting,
MC Consulting,
Lda Lda
Servios
Servios
4,564
4,564
260 260
1,658.0
1,658.0
220 220
(336)(336)
165.29
165.29
541 541
(336)(336)260.99
260.99
1,841
1,841
460 460
300.45
300.45
1,452
1,452
460 460
215.96
215.96
16 16
Tecninfo,
Tecninfo,
Lda Lda
Servios
Servios
4,375
4,375
5,858
5,858 (25.3)(25.3)
183 183
782 782(76.60)
(76.60)
269 269
1,1501,150 (76.61)
(76.61)
3,032
3,032
2,843
2,8436.656.65
2,7442,744
2,888
2,888(4.99)(4.99)
1,2001,200
510 510
135.29
135.29
1,2001,200
510 510
135.29
135.29
8,5578,557 9,0889,088(5.84)(5.84)
8,5578,557
8,7718,771 (2.44)(2.44)
712 712
1,2101,210(41.16)
(41.16)
712 712
-
1,9481,948
1,2101,210(41.16)
(41.16)
-
786 786
147.79
147.79
412 412 491.00

491.00
(16.09)
(16.09)
(131)(131)
24.4324.43
11,808
11,808 16,673
16,673
(29.18)
(29.18) 0.12 0.120.01 0.01 0.15 0.150.01 0.01 0.56 0.560.04 0.04 1.42 1.421.17 1.17
14 14 15 15 (6.67)(6.67)
354 354(22.20)
(22.20)
- 1,2371,237
650.0050.00
1,0671,067 2,4642,464(56.68)
(56.68)
n.d n.d
6,0846,084 5,9435,943 2.37 2.37 10.9910.99

12.6512.6528.6928.69
40.5140.5136.8236.82
70.5470.54 0.01 0.010.01 0.01
5 0.00 0.00
1,4901,490 1,3331,333 11.7511.75
18.1718.17
n.d n.d
3,9593,95938.5738.57 10.9310.935.36 5.3618.8318.83 7.05 7.0526.3026.30

21.1621.16 3.33 3.331.73 1.73 40 40 32 3225.0025.00
8
177 177
283 283(37.65)
(37.65)
0.00 0.00
685 685
74 74
823.63
823.63
n.d n.d
5,4505,450
5,6205,620(3.02)(3.02) 4.18 4.183.17 3.17 4.60 4.604.33 4.33 6.10 6.105.01 5.01 4.48 4.488.70 8.70
10 10 11 11(9.09)(9.09)
562 562
551 551 2.03 2.03
(11.09)
(11.09)
0.00 0.00
318 318
(42.14)
(42.14)
5,9505,950
6,5976,597(9.81)(9.81)
(2,300.33)
(2,300.33)
(4.43)(4.43)
(1,530.57)
(1,530.57)
(2.98)(53,301.59)
(2.98)(53,301.59)
(56.28)
(56.28) 0.01 0.010.01 0.01 22 22 27 27(18.52)
(18.52)
237 237
223 223 6.62 6.62
(38.03)
(38.03)
0.00 0.00
50,641
50,641 1,3091,309
3,768.68
3,768.68
6,0376,037
4,9144,91422.8522.85 2.98 2.985.54 5.54 8.13 8.13

18.3018.30 0.62 0.62
53.1753.17 2.80 2.801.57 1.57 22 22 22 22 0.00 0.00
247 247
571 571(56.76)
(56.76)
n.d n.d
147 147
173 173
559.27
559.27
n.d n.d
n.d n.d
184 184
412 412 491.00

491.00(16.09)
(16.09)
2,6212,6212,352.00
2,352.0011.4411.44
4,0694,069
4,7044,704
(13.50)
(13.50) 4.18 4.18
13.3513.35 6.04 6.0427.5127.51 7.36 7.36
44.0144.01 6.66 6.665.88 5.88
1,7211,721 1,7061,706 0.89 0.89
4,3114,311
3,2553,25532.4432.44 0.74 0.744.88 4.88 0.66 0.66 7.63 7.63 1.87 1.87
10.4110.41 3.84 3.842.05 2.05 48 48 50 50 (4.00)(4.00)
4,348
4,348
3,440
3,440 26.426.4
32 32
168 168(80.96)
(80.96)
37 37
185 185 (80.01)

(80.01)
4,828
4,828
2,202
2,202
119.26
119.26
1,099
1,099
1,0151,0158.248.24
3,1073,107
496 496
526.39
526.39
286 286
496 496(42.30)
(42.30)
2,434
2,434
775 775 214.1214.1
(238)(238)
82 82
(390.24)
(390.24)
(238)(238)
113 113(310.62)
(310.62)
2,9162,916
2,6132,61311.6011.60
1,534
1,534
2,607
2,607
(41.16)
(41.16)
2,8072,807 2,2662,26623.8723.87
2,8072,807
2,2662,26623.8723.87
700,089
700,089 656,062
656,0626.716.71 249,810
249,810 191,874
191,874
30.1930.19
479,204
479,204400,558
400,55819.6319.63
(107)(107)
109 109
347 347
(68.59)
(68.59)
- 60 60
5
366.6766.67
1,1411,141
11 11 11 11 0.00 0.00
398 398
662 662
303.63
303.63 (9.78)(9.78)
10.5810.58(8.16)(8.16)3.14 3.14
(104.39)
(104.39)
47.2647.26 0.55 0.551.15 1.15
5 0.00 0.00
26,114
26,114 15,043
15,04373.6073.60
1,915.21
1,915.21
118.73
118.73 5.43 5.432.14 2.1415.9715.97
11.0011.00 2.10 2.107.23 7.23
89 89
60 6048.3248.32
(11.01)
(11.01)
n.d n.d
487 487
310 31057.0357.03
0.00 0.00
0.00 0.00
n.d n.d
n.d n.d
n.d n.d
n.d n.d
n.d n.d
n.d n.d
n.d n.d
n.d n.d
n.d n.d
n.d n.d
n.d n.d
n.d n.d
n.d n.d
n.d n.d
- 25 25 25 25 0.00 0.00
48 48
96 96(50.00)
(50.00)
0.00 0.00
295 295
369 369 (20.1)(20.1)
n.d n.d
n.d n.d
n.d n.d
n.d n.d
n.d n.d
n.d n.d
n.d n.d
n.d n.d
n.d n.d
n.d n.d
n.d n.d
n.d n.d
n.d n.d
n.d n.d
n.d n.d
n.d n.d
42 42
105 105(60.06)
(60.06)
200 200
Agricultura
Agricultura
e Pescas
e Pescas
201 201
119 119 68.968.9 (1,045)

(1,045) (1,069)
(1,069) 2.252.25
(1,045)
(1,045) (1,069)
(1,069) 2.25 2.25
430 430
1,1211,121
(61.64)
(61.64)
280 280
679 679
(58.76)
(58.76)
4,0894,089 3,7343,734 9.51 9.51
4,0894,089
3,7343,734 9.51 9.51
(3,658)
(3,658) (2,613)
(2,613)
(39.99)
(39.99)
943 943
1,1721,172
(19.54)
(19.54)
(519.90)
(519.90)
(898.32)
(898.32)
(243.02)
(243.02)
(95.36)
(95.36)
33.3333.33
81.8281.82 0.07 0.070.18 0.18
9 13 13(30.77)
(30.77)
18 18
18 18 (0.19)(0.19)
14 14
Alojamento,
Alojamento,
Restaurao
Restaurao
e Similares
e Similares
100 100
90 90
50 50
80.00
80.00
90 90
50 50
80.00
80.00
150 150
130 13015.3815.38
40 40
30 3033.3333.33 40.0040.00
37.5037.5044.4444.44
60.0060.00
100.00
100.00
300.00
300.00 0.60 0.600.38 0.38
67 67
160 160(58.33)
(58.33)
40 40
30 30 33.33
33.33
60 60
50 50 20.0020.00
150 150
130 13015.3815.38
60 60
20 20
200.00
200.00
n.d n.d
n.d n.d
80 80 25.025.0
220,885
220,885255,504
255,504
(13.55)
(13.55)
2,6722,672
0.0 0.0
1,202
1,202
119,220
119,220 26,541
26,541
349.19
349.19
275 275
8 10 10(20.00)
(20.00)
814 81445.5845.58 1.10 1.100.70 0.70
Servios
Servios
35 35 28 2825.0025.00
(544)(544)
(365.37)
(365.37) 4.81 4.81
(129.54)
(129.54)11.9311.93
(73.15)
(73.15)
(101.41)
(101.41)
206.13
206.13 0.75 0.750.58 0.58
Servios
Servios
7,2997,299 6.95 6.95 0.39 0.390.28 0.28 1.81 1.811.60 1.60

(26.96)
(26.96)
(32.06)
(32.06) 0.88 0.880.82 0.82
1,1851,185
Limpers,
Limpers,
Lda Lda
n.d n.d
4,7404,74078.5978.59 1.61 1.612.93 2.93 1.78 1.782.42 2.42 3.94 3.948.32 8.32 1.00 1.001.36 1.36
(2,531)
(2,531)
Lavandaria
Lavandaria
Imperial
Imperial
7,8067,806
786 786147.79
147.79
8,4658,465
(326)(326)67.2967.29
1,9481,948
17 17
38,036
38,036 14,050
14,050170.72
170.72
(99) (99)
220,719.0
220,719.0265,793
265,793
(16.96)
(16.96) 220,719.0
220,719.0 265,793
265,793(16.96)
(16.96) 2,634.00
2,634.00 1,8151,81545.1245.12
18 18
ChefChef
Privado
Privado
1,3151,315
30.04
30.04
5,373
5,373
TerraTerra
Nova,
Nova,
Lda Lda
5,993
5,993
30.99
30.99
444 444 2.70 2.70
23 23
7,8507,850
(271)(271)
(49,267
(49,267
.90) .90)
22 22
5,0005,000
134.04
134.04 2.45 2.455.31 5.31
1,7101,710
456 456
Comrcio
Comrcio
21 21 47.6247.62
(271)(271)
(49,267
(49,267
.90) .90) (133,787)
(133,787)
BiriuBiriu
Cpias
Cpias
213 213 (3.29)(3.29)
6,1236,123 (5.0) (5.0)(133,787)

(133,787)
21 21
2,4872,487 2,5042,504(0.68)(0.68)
6,064
6,064 (2.6) (2.6)
1,202
1,202
9,6649,664(40.01)
(40.01)
5,8165,816
1,986
1,986 11,834
11,834 (83.2)(83.2) 38,036
38,036 14,050
14,050170.72
170.72
5,7975,797
5,906
5,906
Construo
Construo
6,5876,587 9,6649,664
(31.84)
(31.84)
%13/12
%13/12
20122012
n.d n.d
8,205
8,205 11,285
11,285
(27.29)
(27.29)
20132013
1,6441,644 2.19 2.19
9,0769,076 12,167
12,167
(25.40)
(25.40)
239 239
20132013 20122012
%13/12
%13/12
n.d n.d
Servios
Servios
Alojamento,
Alojamento,
Restaurao
Restaurao
e Similares
e Similares
20122012
%13/12
%13/12 20132013201220122013201320122012 20132013
20122012 2013201320122012
%13/12
%13/12
20122012 20132013
1,6801,680
Comrcio
Comrcio
Gilctricas
Gilctricas
Construes,
Construes,
Lda Lda
20132013
1,6801,680 1,6441,644 2.19 2.19
Neoqumica
Neoqumica
Moambique,
Moambique,
Lda Lda
Bazaruto,
Bazaruto,
Lda Lda
20122012
%13/12
%13/12
2,5662,566 2,5662,566 0.00 0.00
n.d n.d
Mediptica,
Mediptica,
Lda Lda
19 19
20132013
Custos
Custos
Operacionais
Operacionais Rent
Rent
VN VN
Rent.
Rent.
A. Liq.
A. Liq.Rent.
Rent.
C. PC.
. P. Liquidez
Liquidez N Trabalhadores
N Trabalhadores VN VN
porpor
Trabalhador
Trabalhador Novos
Novos
investimentos
investimentos
Operating
Operating
CostCost
Profits/
Profits/ Rent.
Rent.
NetNetS/hsS/hs
Funds
Funds
Geral
Geral N of
NEmployees
of EmployeesRevenue
Revenue
per per
Employee
Employee
realizados
realizados
3
(103(10
Meticais)
Meticais) Revenue
Revenue
Asset
Asset
(%)(%) Current
Current
New
New
Investment
Investment
released
released
3
(%)(%)
(%) (%)
Ratio
Ratio
(103(10
Meticais)
Meticais)
n.d n.d
11 11
20 20
Capitais
Capitais
Prprios
Prprios
Shareholdersfunds
Shareholdersfunds
3
(103(10
Meticais)
Meticais)
17,399
17,399 16,585
16,5854.914.91
12 12
162 162
7,8337,83334.1234.12
(32.63)
3,4683,468 5,1485,148(32.63)
(34.09)
732 732 1,1101,110(34.09)
The following tables present the ranking of the Top Small Companies in
Mozambique in 2013 according to the methodology adopted.
Resultados
Resultados
Lquidos
Lquidos
NetNet
Profits
Profits
3
(103(10
Meticais)
Meticais)
247 247
10,506
10,506
283 283
68.53
68.53
1,1441,144
1,928
1,928
As tabelas que se seguem apresentam o ranking das Pequenas Empresas

com maior Volume de Negcios de acordo com a metodologia adoptada.
695 695
24,296 6.88 6.88 2.77 2.773.29 3.2914.6414.64

25,968
25,968 24,296
56.7556.75 9.34 9.34
(39.13)
35.2535.2521.3521.35
(0.82)(0.82) 28 28 46 46(39.13)
- 130 130 143 143 (9.09)(9.09)
16,571
16,571
(496)(496)
164.31
164.31
371 371
1,562.5
1,562.5
4,0594,059 2,9572,95737.2737.27
16,571
16,571 10,432
10,43258.8558.85
(63) (63)
4,534
4,534 40.340.3
(577)(577)
149.05
149.05
(528)1,029.92
(528)1,029.92
319 319
6,1686,168
332 332(39.04)
(39.04)
2,462
2,462
158.37
158.37
0.9 0.9
6,361
6,361
419 41918.6818.68 12,699

324.72
12,699 2,9902,990324.72
202 202
28,673
28,673 3,3383,338
758.99
758.99
4,9104,910
9,789
9,789 101.7101.7
Indstria
Indstria
497 497
19,629(1.77)(1.77) (2.58)(2.58)
(22.08)
(22.08)(2.84)(2.84)
19,282
19,282 19,629
(33.32)
(33.32)
(420.33)
(420.33)
(19.92)
(19.92)
6,361
6,361
283.36
283.36
(577)(577)
%13/12
%13/12
20122012
19,160 8.76 8.76 16.2916.29

22.7622.76 4.80 4.80
20,838
20,838 19,160
1,129.88
1,129.88 3.50 3.500.82 0.82 54 54 57 57 (5.26)(5.26)
16.2416.2428.0828.08
83.75
83.75
6,260
6,260
1,0581,058
20132013
1,7801,780 2,4912,491
(28.56)
(28.56)
52.07
52.07
6,457
6,457
19,743
19,743
SIGASIGA
- Sistemas
- Sistemas
de Informao
de Informao
e Gesto
e Gesto
de Atendimento,
de Atendimento,
S.A S.A Servios
Servios
%13/12
%13/12
20132013 20122012
9,8199,819
21,473
21,473 21,279
21,279
10 10
20122012
%13/12
%13/12 20132013201220122013201320122012 20132013
20122012 20132013
%13/12
%13/12
20122012 2013201320122012
11,503
11,503
958 958 21.0821.08
8.3 8.3
20132013
4,294
4,294 75.0675.06
Servios
Servios
20132013
20122012
%13/12
%13/12
16,173
16,173 11,119
11,11945.4545.45
-
20132013
(5,795) 84.5284.52
(897)(897) (5,795)
Indstria
Indstria
20132013
23,307
23,307 23,797
23,797(2.06)(2.06)
20122012
%13/12
%13/12
476 476
455.04
455.04
1,1601,160
Vol.Vol.
de Neg.
de Neg.
Revenues
Revenues
3
(103(10
Meticais)
Meticais)
105.86
105.86
65,038
65,038 31,593
31,593
20132013
Custos
Custos
Operacionais
Operacionais Rent
Rent
VN VN
Rent.
Rent.
A. Liq.
A. Liq.Rent.
Rent.
C. PC.
. P. Liquidez
Liquidez N Trabalhadores
N Trabalhadores VN VN
porpor
Trabalhador
Trabalhador Novos
Novos
investimentos
investimentos
Operating
Operating
CostCost
Profits/
Profits/ Rent.
Rent.
NetNetS/hsS/hs
Funds
Funds
Geral
Geral N of
NEmployees
of EmployeesRevenue
Revenue
per per
Employee
Employee
realizados
realizados
3
(103(10
Meticais)
Meticais) Revenue
Revenue
Asset
Asset
(%)(%) Current
Current
New
New
Investment
Investment
released
released
3
(%)(%)
(%) (%)
Ratio
Ratio
(103(10
Meticais)
Meticais)
2,642
2,642
Euromoc.
Euromoc.
Lda Lda
Sector
Sector
de Actividade
de Actividade
Activity
Activity
%13/12
%13/12
20122012
Capitais
Capitais
Prprios
Prprios
Shareholdersfunds
Shareholdersfunds
3
(103(10
Meticais)
Meticais)
114.96
114.96
2,380
2,380
PINTEX
PINTEX
- Fbrica
- Fbrica
de Tintas,
de Tintas,
SARL
SARL
Empresa
Empresa
Company
Company
20132013
Passivo
Passivo
Corrente
Corrente
Current
Current
Liabilities
Liabilities
3
(103(10
Meticais)
Meticais)
5,1165,116
10 10
Rank
Rank
Passivo
Passivo
Total
Total
TotalTotal
Liabilites
Liabilites
3
(10 3(10
Meticais)
Meticais)
7 0.00 0.00
100.00
1 100.00
Ranking das 100

Maiores Empresas
de Moambique em
Dlares US
The Top 100
Companies in
Mozambique in
US Dollars
Rank
Rank
Empresa
Empresa
Company
Company
Sector
Sector
dede
Actividade
Actividade
Activity
Activity
2013
2013 2012
2012
2013
2013
1 1
SARL
1 1 Mozal,
Mozal,
SARL
Indstria
Indstria
2 2
- Petrleos
de de
Moambique,
SA SA
2 2 PETROMOC
PETROMOC
- Petrleos
Moambique,
Comrcio
Comrcio
Moambique,
SA SA
3 3 n.an.a ValeVale
Moambique,
Vol.
Vol.
dede
Neg.
Neg.
Revenues
Revenues
3 3
(10(10
USD)
USD)
2012%13/12
%13/12
2012
Resultados
Resultados
Lquidos
Lquidos
Net
Net
Profits
Profits
3 3
(10(10
USD)
USD)
2013
2013
2012%13/12
%13/12
2012
Resultados
Resultados
Antes
Antes
dos
dos
Impostos
Impostos
Income
Income
Before
Before
Taxes
Taxes
3 3
(10(10
USD)
USD)
2013
2013
629,422 595,158
595,158
629,422
5.76
5.76
(3,177) (8,929)
(8,929) (64.42)
(64.42)
(3,177)
26.05
26.05
,913
,401
(477
,213) (604,362)
(604,362) (21.04)
(21.04) 3,509,403
3,509,403 2,707
2,707
,913 29.60
29.60 787787
,401 555,505
555,505
(477
,213)
41.74
41.74
36.16
3,289,573 36.16
4,478,951
4,478,9513,289,573
10,602 (83.52)
(83.52) 1,455,030
1,455,030 1,286,037
1,286,037 13.14
13.14 186,476
186,476 164,014
164,014
10,602
13.70
13.70
24.47
671,862 24.47
836,261
836,261 671,862
42.01
87,293 42.01
87,293
(18.47)
,053(18.47)
446,021
446,021 547547
,053
5 5
de de
Moambique,
SARL
4 4 Cervejas
Cervejas
Moambique,
SARL
Indstria
Indstria
329,388
329,388
321,017
321,017
2.61
2.61
47,646 53,980
53,980 (11.73)
(11.73)
47,646
69,995
69,995
6 6
de de
Cahora
Bassa,
SARL
6 6 Hidroelctrica
Hidroelctrica
Cahora
Bassa,
SARL
Indstria
Indstria
304,606 305,675
305,675 (0.35)
(0.35)
304,606
77,234 117,679
117,679 (34.37)
(34.37)
77,234
116,602
116,602
7 7
SARL
3 3 MOTRACO,
MOTRACO,
SARL
Servios
Servios
,784 326,072
326,072 (11.74)
(11.74)
287287
,784
8 8
- Portos
e Caminhos
de de
Ferro
de de
Moambique,
E.P.E.P.
9 9 CFM
CFM
- Portos
e Caminhos
Ferro
Moambique,
Transportes
e Armazenagem
Transportes
e Armazenagem
276,590 235,563
235,563 17.42
17.42
276,590
9 9
- Moambique
Celular,
SA SA
5 5 mCel
mCel
- Moambique
Celular,
Comunicaes
Comunicaes
273,911
273,911
- Banco
Internacional
de de
Moambique,
SA SA
8 8 BIM
BIM
- Banco
Internacional
Moambique,
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
268,791 264,224
264,224
268,791
8,273 (1.94)
(1.94)
8,273
9,484
9,484
55,909 49,161
49,161 13.73
13.73
55,909
82,980
82,980
2,779
2,779
76,148 (8.08)
(8.08)
76,148
82,986
82,986 79,735
79,735
4.08
4.08
56,025 108.13
108.13 1,889,747
1,889,747 1,938,051
1,938,051 (2.49)
(2.49) 311,954
311,954 339,821
339,821
56,025
(8.20)
(8.20)
9,639 (1.61)
(1.61)
9,639
26,332 (89.44)
(89.44)
26,332
130,221 124,042
124,042
130,221
156,534 129,449
129,449 20.92
20.92
156,534
815,813
815,813 713,328
713,328 14.37
14.37 236,118
236,118 176,320
176,320
217,487 288,279
(587
,347)
(969,548) (587
(24.56) (969,548)
288,279 (24.56)
217,487
,347)
65.07
65.07
20.23
30.23
512,620 30.23
1,933 20.23
,573 512,620
(20.80) 49.90
(101.36)(197(197
49.90191.83
191.83 3.62
2,324 1,933
667667
,573
(101.36)
.09).09) (11.07)
(11.07)
(20.80)
3.62 1.931.93 2,324
181,848 144,938
144,938
181,848
620,180
618,770 620,180
25.47 618,770
25.47
(0.23)
(0.23)
296,019
328,876 296,019
328,876
123,968 87,293
87,293
123,968
173,299
186,677 173,299
42.01 186,677
42.01
7.727.72
62,772
65,412 62,772
65,412
126,341 86,219
86,219
126,341
1,404,599
1,443,7261,404,599
46.531,443,726
46.53
2.79
2.79
11.03 25.36
,237 11.03
230,085 207207
38.50 4.09
6.07 5.42
3.94
25.36 38.50
5.42 8.24
8.24 2.47
230,085
,237
4.09 6.07
2.47 3.94
0 0
(100.00)
659659
(100.00)
99.45
463.50 99.45
924924 463.50
0 0
71,149
71,149
5.52
5.52
(8.93) 2.82
300,238 (8.93)
273,441 300,238
2.82
273,441
7 7
0.00
7 7 0.00
41,112
(11.74)
46,581.77 (11.74)
41,112
46,581.77
4,623
4,623
1,799 156.93
156.93
1,799
864,034
901,236 864,034
23.94 901,236
23.94
4.31
4.31
196,962
213,870 196,962
213,870
67,160
67,160
79,677 (15.71)
(15.71)
79,677
29,561
29,561
253.98
8,351 253.98
8,351
8.41
321,958 8.41
349,034
349,034 321,958
110,810 89,406
89,406
110,810
28.35
244,672 28.35
314,031
314,031 244,672
184,428 152,753
152,753
184,428
75,078
75,078
8.58 20.21
20.87
20.21 20.87
8.58
14.82
328,291 14.82
376,953
376,953 328,291
6.04
182182 6.04
1,3761,123.03
22.49
1,123.03 22.49
1,376
(1.38)
1,085 (1.38)
6.50 7.767.76 10.24
10.24 0.87
1,070 1,085
7.507.50 4.61
4.61 6.50
0.87 1.141.14 1,070
(16.07)
224224 267267
.01 .01(16.07)
29.19
973973 29.19
(38.91)
328.84(38.91)
201201 328.84
146,819
146,819
117,209
117,209 25.26
25.26
90,339
90,339 75,472
75,472
19.70
19.70
109,472
109,472
16.27
94,157 16.27
94,157
67,232 44,576
44,576
67,232
50.83
50.83
37,347
37,347
23,277
23,277
60.44
60.44
199,580
203,273 199,580
203,273
6,309 23.12
23.12
6,309
87,468
87,468
61,020
61,020 43.34
43.34
70,414
70,414 45,041
45,041
56.33
56.33
59,165
59,165
59.30
37,142 59.30
37,142
59,165
59,165
37,142
37,142
59.30
59.30
28,302
28,302
24,112
24,112
17.38
17.38
25.40 2.182.18 2.67

155,445 25.40
194,928 155,445
2.67 5.06
16.90 17.92
17.92 1.191.19 1.211.21 115115
194,928
5.06 7.207.20 16.90
13,553
13,553
18,107 (25.15)
(25.15)
18,107
45,042
45,042
47,729
47,729
(5.63)
(5.63)
57,268
57,268
3.05
55,571 3.05
55,571
56,775 44,554
44,554
56,775
27.43
27.43
44,060
44,060
47,996
47,996
(8.20)
(8.20)
24.98 3.763.76
,429 24.98
184,258 147147
184,258
,429
57,222
57,222
20.01
47,680 20.01
47,680
57,222 47,680
47,680
57,222
20.01
20.01
76,575
76,575
81,128
81,128
(5.61)
(5.61)
192,317
198,752 192,317
198,752
113,463 1.681.68
115,373
115,373 113,463
48,349 45,657
45,657
48,349
5.90
5.90
30,238
30,238
29,497
29,497
2.51
2.51
,873
207207
,873
4.67
4.67
14,314
14,314
8,293 72.61
72.61
8,293
203,161 164,595
164,595 23.43
23.43
203,161
4,429
4,429
0.76
0.76
16 16
Moambique,
SARL
14 14 Total
Total
Moambique,
SARL
Comrcio
Comrcio
201,727
201,727
7,585 12,335
12,335 (38.51)
(38.51)
7,585
200,149 206,332
206,332 (3.00)
(3.00)
200,149
101,328
101,328 103,102
103,102 (1.72)
(1.72)
(3,773)
(3,773)
4,268(188.40)
(188.40)
4,268
(4,128)
(4,128)
6,589(162.66)
(162.66)
6,589
137137
,893
,893 131,513
131,513
4.85
4.85
77,566
77,566 80,450
80,450
(3.58)
(3.58)
1,027
1,027
4,622 (77.77)
(77.77)
4,622
312312
3,526 (91.14)
(91.14)
3,526
145,611
145,611 142,675
142,675
2.06
2.06
41,725
41,725 40,198
40,198
3.80
3.80
4.26
,449
4.26 2,743,500
2,743,500 2,273,597
2,273,597 20.67
20.671,154,322
1,154,322 947947
,449
19 19
Comercial
e de
Investimentos
(BCI),
SA SA
18 18 Banco
Banco
Comercial
e de
Investimentos
(BCI),
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
173,564 154,836
154,836 12.09
12.09
173,564
47,494 45,812
45,812
47,494
3.67
3.67
56,166
56,166
53,869
53,869
20 20
Bank,
SARL
19 19 Standard
Standard
Bank,
SARL
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
153,301 153,240
153,240
153,301
0.04
0.04
41,673 44,050
44,050 (5.40)
(5.40)
41,673
59,007
59,007
62,280 (5.25)
(5.25) 1,471,231
1,471,231 1,415,703
1,415,703
62,280
21 21
de de
Moambique,
SA SA
20 20 Cimentos
Cimentos
Moambique,
Indstria
Indstria
150,663 143,480
143,480
150,663
5.01
5.01
13,528 12,538
12,538
13,528
22,772
22,772
17,454 30.47
30.47
17,454
22 22
- Empresa
Moambicana
de de
Seguros,
SA SA
31 31 Emose
Emose
- Empresa
Moambicana
Seguros,
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
145,102
145,102
23 23
Sabco
(Moambique),
SA SA
21 21 Coca-Cola
Coca-Cola
Sabco
(Moambique),
Indstria
Indstria
144,453
144,453
,991
137137
,991
24 24
de de
Moambique,
SA SA
23 23 Cornelder
Cornelder
Moambique,
Transportes
e Armazenagem
Transportes
e Armazenagem
139,485
139,485
115,726 20.53
20.53
115,726
25 25
Africa
Austral,
LdaLda
22 22 C.M.C.
C.M.C.
Africa
Austral,
Construo
Construo
121,479 129,584
129,584 (6.25)
(6.25)
121,479
(1,939)
(1,939)
26 26
Freight
Services
(Mo),
SA SA
25 25 Manica
Manica
Freight
Services
(Mo),
Transportes
e Armazenagem
Transportes
e Armazenagem
113,467 100,454
100,454 12.95
12.95
113,467
341341
27 27
de de
Moambique,
SA SA
24 24 Telecomunicaes
Telecomunicaes
Moambique,
Comunicaes
Comunicaes
105,007
105,007
28 28
e Sasol,
SA SA
26 26 Petromoc
Petromoc
e Sasol,
Comrcio
Comrcio
101,183
101,183
29 29
de de
Moambique,
SA SA
27 27 Toyota
Toyota
Moambique,
Comrcio
Comrcio
30 30
31 31
3.92
3.921,012,871
1,012,8711,049,652
1,049,652
34.58 41.24
70,315 34.58
94,628 70,315
43.02 13.04
12.33 27.07
3.80 193193
41.24 43.02
27.07 23.42
23.42 3.48
94,628
13.0412.33
3.48 3.80
10.53 5.53
190,502 10.53
210,568 190,502
5.53
210,568
8,606 183.00
(19.68) 7.087.08 2.61
(250,347) (19.68)
(201,090)(250,347)
2.61
183.00 (201,090)
8,606
3,760 382.43
382.43
3,760
(56.39)
6,545
6,545 (56.39)
86 86
4.88
82 82 4.88
2,402 2,091.74
14.81
2,091.74 14.81
2,402
17,797
17,797
10,493
10,493
3.35 (1.89)
2.07 (2.74)
3.25 (4.78)
(1.89) 2.07
(4.78) 5.155.15 1.361.36 1.691.69 150150
3.35
(2.74) 3.25
0.00
150150 0.00
1,3341,427
(6.55)
1,427
1,334
.91.91 (6.55)
17,021
17,021
(23.78)
22,330
22,330 (23.78)
11.77 0.58
150,184 11.77
,855 150,184
2.79 0.71
3.24 3.44
0.88 735735
16.20 0.86
0.58 2.79
3.44 16.20
167167
,855
0.71 3.24
0.86 0.88
3.38
711711 3.38
235.23 4.134.13
245245 235.23
7,007
7,007
(12.35)
7,994
7,994 (12.35)
7.377.37
18.32
18.32
0.46
85.81 0.46
85.81
23,347
23,347
20,939
20,939
11.50
11.50
8.57
8.57
79,453
83,354 79,453
83,354
4.91 27.18
0.89 1,041
28.75 2.83
21.96 0.84
1,041
27.18 28.75
4.91
2.83 3.113.11 19.17
19.17 21.96
0.84 0.89
969969 7.437.43
(3.64)
158.31 (3.64)
153153 158.31
23,757
23,757
16,952
16,952
40.14
40.14
84,582
84,582
11.13
11.13
110,762
117,228 110,762
117,228
5.84 8.98
8.98
5.84
405405 8.158.15
351.24
357357 351.24
1.771.77
545545
148,168 108,640
108,640
148,168
36.38
36.38
93,998
93,998
14.45 27.36
101,752 14.45
116,451 101,752
29.59
27.36 29.59
116,451
8,254 (21.41)
(21.41)
8,254
257257
,095
,095 183,105
183,105 40.41
40.41
60,902
60,902
37,458
37,458
62.59
62.59
52.60
122,571 52.60
187187
,045
,045 122,571
27,679 21,035
21,035
27,679
31.59
31.59
70,050
70,050
61,126
61,126
14.60
14.60
103.97 3.43
51,895 103.97
105,851 51,895
3.69
3.43 3.69
105,851
21,974 (1.06)
(1.06)
21,974
122,397
122,397
89,969
89,969 36.04
36.04
34,682
34,682 25,992
25,992
33.43
33.43
51,906
51,906
41.10
36,786 41.10
36,786
48,728 33,864
33,864
48,728
43.89
43.89
67,185
67,185
53,703
53,703
25.10
25.10
114,206
122,742 114,206
122,742
44,045 29,880
29,880
44,045
47.40
47.40
47,776
47,776
42,682 11.93
11.93
42,682
110,006
110,006
85,520
85,520 28.63
28.63
67,678
67,678 53,933
53,933
25.48
25.48
34,216
34,216
0.64
34,000 0.64
34,000
23,024 23,751
23,751
23,024
(3.06)
(3.06)
75,790
75,790
52,024
52,024
45.68
45.68
(306.20)
940940(306.20)
(543)
(543)
(323) 68.17
68.17
(323)
722,418
722,418
(5.41)
728,525 (5.41)
689,135
689,135 728,525
156,909 216,736
216,736
156,909
(27.60)
(27.60)
33,283
33,283
35,564
35,564
(6.41)
(6.41)
130,307
134,448 130,307
134,448
(274)(224.38)
(224.38)
(274)
1,097
1,097
.12.12
113113 867867
52,176
52,176
27,416 41,832
(34.46)
41,832 (34.46)
27,416
6,160
6,160
5,216
5,216
18.11
18.11
23,808
24,493 23,808
24,493
174,003
173,546 174,003
46.03 173,546
46.03
(0.26)
(0.26)
108,559
116,442 108,559
116,442
763,745
763,745 (5.41)
(5.41) 178,969
178,969 299,747
299,747 (40.29)
(40.29)
29,674
29,674 41,532
41,532 (28.55)
(28.55)
46,015
46,015
(3.18)
47,525 (3.18)
47,525
27.45
27.45
1,739
1,739
2,698 (35.57)
(35.57)
2,698
3,915
3,915
2,449 59.88
59.88
2,449
246,182
246,182
24.39
197197
,918,918 24.39
168,692 115,517
115,517
168,692
9.47
9.47
1,844
1,844
2,044 (9.78)
(9.78)
2,044
2,819
2,819
2,521 11.83
11.83
2,521
42,589
42,589
29,181
29,181 45.95
45.95
35,932
35,932 22,789
22,789
57.67
57.67
31,509
31,509
58.00
19,942 58.00
19,942
30,977 19,047
19,047
30,977
62.63
62.63
11,081
11,081
9,329
9,329
18.78
18.78
98,207
98,207
85,641 14.67
14.67
85,641
4,246
4,246
2,992 41.90
41.90
2,992
6,582
6,582
4,771 37.95
37.95
4,771
76,915
76,915
72,979
72,979
48,628
48,628 55,302
55,302 (12.07)
(12.07)
56,325
56,325
(5.12)
59,367 (5.12)
59,367
48,011 53,915
53,915
48,011
(10.95)
(10.95)
20,590
20,590
13,745
13,745
49.80
49.80
- Sociedade
de de
Desenvolvimento
do do
Porto
de de
Maputo,
SA SATransportes
e Armazenagem
28 28 MPDC
MPDC
- Sociedade
Desenvolvimento
Porto
Maputo,
Transportes
e Armazenagem
92,429
92,429
81,759 13.05
13.05
81,759
2.10
2.10
30,826
30,826
25,100 22.81
22.81
25,100
87,604
87,604
71,615
71,615 22.33
22.33
47,743
47,743 42,864
42,864
11.38
11.38
41,140
41,140
(11.54)
46,506(11.54)
46,506
38,771 44,027
44,027
38,771
(11.94)
(11.94)
46,464
46,464
25,354
25,354
Alliance
Seguros,
SA SA
32 32 Global
Global
Alliance
Seguros,
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
82,588
82,588
63,778 29.49
29.49
63,778
4,102
4,102
2,808 46.09
46.09
2,808
6,066
6,066
4,163 45.71
45.71
4,163
55,758
55,758
35,612
35,612 56.57
56.57
48,168
48,168 28,666
28,666
68.03
68.03
40,525
40,525
64.79
24,591 64.79
24,591
37,989 22,682
22,682
37,989
67.49
67.49
15,232
15,232
11,128
11,128
Comrcio
Comrcio
81,102
81,102
101,508 (20.10)
(20.10)
101,508
113113
4.53
4.53
1,310
1,310
947947 38.39
38.39
40.94
40.94
1,086
1,086
35.93
799799 35.93
1,086
1,086
35.93
35.93
224224
149149
50.28
50.28
163.25
3,907 163.25
3,907
52,321
52,321
Internacional
de de
Moambique
(SIM),
SA SA
29 29 Seguradora
Seguradora
Internacional
Moambique
(SIM),
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
79,171
79,171
70,351 12.54
12.54
70,351
13,340 13,886
13,886 (3.93)
(3.93)
13,340
17,987
17,987
18,916 (4.91)
(4.91)
18,916
Moambicana
de de
Hidrocarbonetos,
SA SA
30 30 Companhia
Companhia
Moambicana
Hidrocarbonetos,
Indstria
Indstria
74,807
74,807
69,726
69,726
29,403 28,681
28,681
29,403
2.52
2.52
43,671
43,671
41,890
41,890
185,943
185,943 171,786
171,786
4.25
4.25
348,315
348,315
799799
11.28
1,906 11.28
28.27 0.84
2,121 1,906
1.731.73 2.012.01 24.83
24.83 28.27
0.84 1.221.22 2,121
5.86 15.15
0.89 438438
15.21 0.86
8.748.74 5.145.14 5.86
15.15 15.21
0.86 0.89
6,486
6,486
34 34
(1.52)
330330 (1.52)
114.76
206.30 114.76
443443 206.30
14,042
14,042
10.94
914914 10.94
(4.76)
150150 157157
.34.34 (4.76)
33,443
33,443
18,812
18,812
77.77
77.77
24.55 31.58
73,815 24.55
34.94 68.92
91,936 73,815
25.82 40.04
61.32 2.94
31.58 25.82
91,936
40.0434.94
68.92 61.32
2.94 2.27
2.27 611611
5.89
577577 5.89
9.47
214.51 9.47
235235 214.51
16,409
16,409
10,163
10,163
61.47
61.47
(8.57)
53.90 (8.57)
53.90
7,610
7,610
6,975
6,975
9.109.10
(5.14)
2,530 (5.14)
0.73 (0.27)
2.55 1.141.14 1.381.382,400
2,400 2,530
(1.60) 0.73
3.183.18 (1.60)
(0.27) 0.120.12 (5.63)
(5.63) 2.55
2.88 0.30
(0.52) 6.00
(0.27) 0.65
(7.65) 1.081.08 0.99
0.30 (0.27)
2.88
0.65(0.52)
6.00 (7.65)
0.99 476476
44.68
329329 44.68
(0.13)
1,526 (0.13)
0.73 1.001.00 1.491.49 0.89
2.35 0.41
1,524 1,526
7.267.26 1.661.66 2.35
0.41 0.73
0.89 1.021.02 1,524
1,315
1,315
1,114
1,114
83.26
83.26
16.75 23.14
55,457 16.75
29.25 59.55
64,747 55,457
25.62 24.41
136.80 1.231.23 0.97
23.14 25.62
64,747
24.4129.25
59.55136.80
0.97 517517
36.88
36.88
28.35 4.97
59,615 28.35
76,518 59,615
4.40
4.97 4.40
76,518
17,343
17,343
239.26
5,112
5,112 239.26
18.70
773.07 18.70
918918 773.07
37 37
(36.39)
58 58 (36.39)
(20.37) 0.140.14 0.110.11 8.60

(101,749) (20.37)
(81,023) (101,749)
144.34 1.151.15 1.111.11
(81,023)
8.6011.38
11.38 60.29
60.29144.34
22 22
22.22
18 18 22.22
(64.05)
11,278.66(64.05)
4,055
4,055
11,278.66
23 23
871.59
2 2 871.59
29.77 17.94
7.177.17 8.08
8.08 26.76
26.76 29.77
17.9444.04
44.04 147147
0.68
146146 0.68
12.54
480.21 12.54
540540 480.21
0 0
10.00
20 20 10.00
(0.38)
3,575.69 (0.38)
3,562
3,5623,575.69
36,581
36,581
7.207.20
124,875 7.017.01
133,623
133,623 124,875
10,284
10,284
47,370
47,370
10.45
10.45
17.6116.85
52,816 17.61
62,120 52,816
19.74
16.85 19.74
62,120
25.41
145,504 25.41
182,472
182,472 145,504
20,015 10,053
10,053
20,015
143,440
165,842 143,440
99.09 165,842
99.09
15.62
15.62
14.23 39.30
22,214 14.23
25,376 22,214
41.13 8.44
22.00 6.61
39.30 41.13
25,376
8.44 9.97
9.97 19.01
19.01 22.00
6.6110.43
10.43
22 22
1,110 201.40
201.40
1,110
4,749
4,749
1,190 299.12
299.12
1,190
102,819
102,819
76,867
76,867 33.76
33.76
85,866
85,866 59,360
59,360
44.65
44.65
92,900
92,900
35.73
68,443 35.73
68,443
88,734 63,698
63,698
88,734
39.30
39.30
9,919
9,919
8,507
8,507
16.59
16.59
(18.96)
19.75 5.015.01 2.102.10 3.25
2,700(18.96)
(51,772) 19.75
(61,995) (51,772)
26.10 0.97
2,188 2,700
(61,995)
3.25 1.441.44 36.32
36.32 26.10
0.97 0.93
0.93 2,188
4,526
4,526
5,655 (19.96)
(19.96)
5,655
7,657
7,657
8,826 (13.25)
(13.25)
8,826
85,408
85,408
89,454
89,454 (4.52)
(4.52)
67,985
67,985 79,426
79,426 (14.40)
(14.40)
55,345
55,345
(13.40)
63,911(13.40)
63,911
55,345 63,876
(13.36)
63,876 (13.36)
55,345
30,063
30,063
25,793
25,793
16.56
16.56
1,406.95 6.97
38,022
572,968 38,022
12.70 5.30
23.47 1.231.23 1.241.24 387387
6.97 12.70
572,968
1,406.95
5.30 6.32
6.32 16.21
16.21 23.47
37 37
Lalgy,
LdaLda
35 35 Transportes
Transportes
Lalgy,
Transportes
e Armazenagem
Transportes
e Armazenagem
58,695
58,695
54,614
54,614
7.477.47
550550
3.37
3.37
44,927
44,927
40,059
40,059 12.15
12.15
19,241
19,241 16,585
16,585
38,565
38,565
12.61
34,245 12.61
34,245
31,190 28,592
28,592
31,190
9.09
9.09
6,363
6,363
5,870
5,870
8.39
8.39
25.37 0.94
41,865 25.37
52,486 41,865
0.96
0.94 0.96
52,486
38 38
LdaLda
34 34 Construa,
Construa,
Comrcio
Comrcio
58,059
58,059
54,654
54,654
6.23
6.23
2,563
2,563
3,871 (33.79)
(33.79)
3,871
4,215
4,215
5,925 (28.86)
(28.86)
5,925
38,282
38,282
36,524
36,524
4.81
4.81
20,202
20,202 19,367
19,367
4.31
4.31
5,053
5,053
(13.68)
5,854(13.68)
5,854
(75.36)
4,718
4,718 (75.36)
10.50 4.41
48,729 10.50
53,844 48,729
53,844
4.41
39 39
Comercial
de de
Moambique,
SARL
33 33 Entreposto
Entreposto
Comercial
Moambique,
SARL
Comrcio
Comrcio
50,063
50,063
54,984 (8.95)
(8.95)
54,984
1,461
1,461
1,945 (24.92)
(24.92)
1,945
1,989
1,989
3,099 (35.82)
(35.82)
3,099
95,343
95,343
93,199
93,199
2.30
2.30
44,254
44,254 45,704
45,704
(3.17)
(3.17)
66,969
66,969
2.97
65,035 2.97
65,035
53,321 50,767
53,321
50,767
40 40
Secure
Solutions,
LdaLda
38 38 G4S
G4S
Secure
Solutions,
Servios
Servios
46,911
46,911
44,370
44,370
2,769
2,769
2,529
2,529
9.51
9.51
4,395
4,395
4,844 (9.28)
(9.28)
4,844
33,396
33,396
29,930
29,930 11.58
11.58
28,186
28,186 10,902
10,902 158.54
158.54
26,511
26,511
2.44
25,881 2.44
25,881
24,527
24,527
41 41
de de
Moambique,
E.P.E.P.
43 43 Aeroportos
Aeroportos
Moambique,
Transportes
e Armazenagem
Transportes
e Armazenagem
45,002
45,002
37,021 21.56
21.56
37,021
(5,602) (6,509)
(6,509) (13.93)
(13.93)
(5,602)
17,543
17,543
10,688 64.13
64.13
10,688
42 42
SARL
42 42 Gespetro,
Gespetro,
SARL
Comrcio
Comrcio
43,781
43,781
40,498
40,498
8.118.11
471471
(6.11)
502502 (6.11)
43 43
Servios
Investimentos
e Trading,
LdaLda
40 40 Servitrade
Servitrade
Servios
Investimentos
e Trading,
Construo
Construo
42,613
42,613
40,866
40,866
4.28
4.28
89,556
89,556
44 44
de de
Carvo
da Matola,
LdaLda
39 39 Terminal
Terminal
Carvo
da Matola,
Transportes
e Armazenagem
Transportes
e Armazenagem
41,311
41,311
43,535 (5.11)
(5.11)
43,535
20,242
20,242
11,184 80.99
80.99
11,184
27,475
27,475
15,693 75.08
75.08
15,693
106,590
106,590
45 45
Petroleum,
LdaLda
47 47 African
African
Petroleum,
Comrcio
Comrcio
40,514
40,514
32,448 24.86
24.86
32,448
627627
38.23
453453 38.23
922922
63.69
563563 63.69
10,384
10,384
5,042
5,042 105.94
105.94
46 46
Banco,
SA SA
57 57 Moza
Moza
Banco,
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
40,032
40,032
21,247 88.41
88.41
21,247
(2,387)(131.17)
(131.17)
744744 (2,387)
1,226
1,226
(2,907)(142.18)
(142.18)
(2,907)
47 47
Bank
Moambique,
SA SA
50 50 Barclays
Barclays
Bank
Moambique,
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
39,924
39,924
45,858 (12.94)
(12.94) (20,168)
(20,168) (25,942)
(25,942) (22.26)
(22.26)
45,858
48 48
Mozambique,
LdaLda
48 48 Grindrod
Grindrod
Mozambique,
Servios
Servios
39,126
39,126
31,869 22.77
22.77
31,869
49 49
da Regio
de de
Maputo,
SA SA
46 46 guas
guas
da Regio
Maputo,
Servios
Servios
38,152
38,152
39,827 (4.20)
(4.20)
39,827
50 50
Moambique,
LdaLda
44 44 Unicomo
Unicomo
Moambique,
Comrcio
Comrcio
36,557
36,557
34,623
34,623
5.59
5.59
336336
51 51
CGM
Mozambique,
LdaLda
36 36 CMA
CMA
CGM
Mozambique,
Transportes
e Armazenagem
Transportes
e Armazenagem
35,461
35,461
49,627 (28.54)
(28.54)
49,627
52 52
Moambique
Companhia
de de
Seguros
, SARL
49 49 Hollard
Hollard
Moambique
Companhia
Seguros
, SARL
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
35,360
35,360
28,602 23.63
23.63
28,602
35,325
35,325
35,199
35,199
Televisa
- Sociedade
Tcnica
de
Obras
e Projectos,
LdaLda
Servios
51 51
53 53/ A
Televisa
- Sociedade
Tcnica
de
Obras
e Projectos,
Servios
70
dcima
sexta
edio
/ The
sixteenth
edition
54 54
Group,
LdaLda
54 54 Premier
Premier
Group,
Comrcio
Comrcio
(20,168) (25,942)
(25,942) (22.26)
(22.26)
(20,168)
6,586
6,586
(84.82)
7,531
7,531 (84.82)
4,089
4,089
68.38
68.38
39,914
41,485 39,914
41,485
3.93
5.90
3.93 5.90
32,145 (19.57)
32,145
(19.57)
41,619
44,782 41,619
44,782
(17.58) (1.30)
(17.45) 1.551.55 1.701.70 806806
7.607.60(12.45)
(12.45) (17.58)
(1.30)(1.66)
(19.32)(17.45)
(1.66)(19.32)
3.87
776776 3.87
37,802
40,610 37,802
40,610
0.77 4.55
22.52 1.121.12 1.211.21 279279
7.437.43 0.70
0.70 0.77
4.55 4.72
21.94 22.52
4.72 21.94
2.95
271271 2.95
25,854
25,854
8.96
8.96
1,428
1,428
12,929 7.607.60
- 8.29
72.18 1.151.15 1.551.5513,911
13,91112,929
8.29 8.45
8.45 50.47
50.47 72.18
59,651
59,651
(3.12)
61,572 (3.12)
61,572
27,815 23,294
27,815
23,294
19.41
19.41
67.93
67.93
66,209
66,209
11.72
59,264 11.72
59,264
56,125 46,611
56,125
46,611
20.41
20.41
40,381
40,381
20,074
20,074
101.16
101.16
26,791 (52.15)
12,820 26,791
25.69 18.99
65.07 0.45
12,820
49.00 25.69
18.9914.13
66.96 65.07
0.45 0.32
(52.15) 49.00
14.13 66.96
0.32 283283
968968
41.04
41.04
7,121
7,121
181.88
2,526181.88
2,526
160.64
2,161
2,161 160.64
3,263
3,263
2,540
2,540
28.44
28.44
31,222 29.22
40,345 31,222
40,345
29.22 1.551.55
494,827
494,827 290,118
290,118 70.56
70.56 262,331
262,331 180,601
180,601
45.25
45.25
82.84
245,960 82.84
449,707
449,707 245,960
410,683 244,830
410,683
244,830
67.74
67.74
45,120
45,120
44,590
44,590
1.891.89
13.67
454,740 13.67
516,906
516,906 454,740
421,964
376,363
421,964 376,363
12.12
12.12
56,464
56,464
0.83
0.83
18,189
18,189
6.29
6.29 360,767
360,767 354,078
354,078
17,016
17,016 43.14
43.14
(6,016) (4,203)
(4,203) 43.15
43.15
(6,016)
(4,261)
(4,261)
(5,134) (17.01)
(17.01)
(5,134)
39,901
39,901
35,014
35,014 13.96
13.96
0.15
0.15
18,421
18,421
13,660
13,660 34.86
34.86
22,331
22,331 15,577
15,577
-
17,089
17,089 12,430
12,430
43.36
43.36
5,631
5,631
6,167
6,167
(19.38)
7,650(19.38)
7,650
6,167
6,167
6,116
6,116
64,931
64,931
20.16
54,036 20.16
54,036
34,188
34,188
17,105
17,105
37.48
37.48
15,588
15,588
39.64
11,163 39.64
11,163
15,588
11,163
15,588 11,163
39.64
39.64
1,365
1,365
4.62
4.62
(42.85)
6,051
6,051 (42.85)
(52.05)
11,083
11,083 (52.05)
6,885
6,885
36.33
36.33
3,458
3,458
5,314
5,314
248.44
7,039
7,039 248.44
3,771
3,771
7.917.91
1.211.21
1,143
1,143
1.531.53 2.09
0.83 0.90
2.09 5.145.14 7.157.15 0.83
0.90 339339
25,415
25,415 15,134
15,134
4,109
4,109
(45.72)
6,393
6,393 (45.72)
(6.61)
125.21 (6.61)
117117 125.21
53,802 (10.54)
48,130 53,802
3.54
48,130
2.92 3.54
(10.54) 2.92
33,842 24,824
33,842
24,824
3,266
3,266
3,470
3,470
(12.49)
171.02(12.49)
150150 171.02
(0.23)
(0.23)
31,426
31,426 43,932
43,932 (28.47)
(28.47)
9,529 32.78
32.78
9,529
494494
13.06
359,396 13.06
406,340
406,340 359,396
3,305
3,305
27 27
2.73
330330 2.73
7.307.30
28,439
28,439
77,489
77,489 15.57
15.57
12,653
12,653
329329
24.77
24.77
(30.39)
39.23(30.39)
39.23
33.02
133.93 33.02
178178 133.93
9.05
475475 9.05
30,969
30,969
28,374
28,374
79,144
79,144 34.68
34.68
1,366
1,366
4,561
4,561
12.71 17.38
7.087.08 6.69
6.6910.60
17.38 4.104.10 518518
10.60 7.987.98 12.71
33,229
33,229
5.03
5.03
5,235 1.341.34
5,235
24,356
24,356
4,610
4,610
(24.47)
850850(24.47)
5,304
5,304
6,347 30.41
30.41
6,347
8,277
8,277
52,606
52,606 42,163
42,163
13.16
342342 13.16
0 0
104.54
17,885
17,885 104.54
8.94 0.62
1.221.22 1.311.31 8.99
8.99 8.94
0.62 0.58
0.58 642642
1.081.08
573,371
573,371 539,453
539,453
2.22
2.22
19.77
155.58 19.77
186186 155.58
3,346
3,346
6,732
6,732
18.04
18.04
6.90
87 87 6.90
26.21
26.21
432,194
432,194 391,230
391,230 10.47
10.47
94.63
94.63
8.84
475475 8.84
44,530 45.82
45.82
44,530
(1.40)
311311 (1.40)
93 93
52,962 26.02
26.02
52,962
306306
31.10 1.271.27 1.261.26

7.367.36 7.887.88 31.12
31.12 31.10
66,744
66,744
5.73
5.73
28,809
28,809
4.93
240.90 4.93
253253 240.90
6.65
376376 6.65
8.24
8.24 184,441
184,441 172,050
172,050
1,162
1,162
56,070
56,070
14.29 4.32
79,891 14.29
91,311 79,891
3.49 5.52
21.12 1.011.01 1.031.03 401401
4.32 3.49
91,311
5.52 4.104.10 24.73
24.73 21.12
287287
,555
,555 21.13
21.13 132,372
132,372 104,886
104,886
16.02
16.02
(9.37)
75.97 (9.37)
75.97
(5.93)
3,361.15 (5.93)
3,162
3,1623,361.15
64,934
64,934
748748
69 69
28.57
28 28 28.57
13.62 1.821.82 2.21

4,253 13.62
2.21 4.33
27.61 1.161.16 1.201.20
4,253
4.33 7.017.01 18.07
18.07 27.61
Construo
Construo
773773
49 49
11.69
252.40 11.69
282282 252.40
253.94
3,967
3,967 253.94
36 36
4,832
4,832
Construo
Construo
4.61
4.61
(97.21)
19,505
19,505 (97.21)
4.21 2.20
1.941.94 1.391.39 7.607.60 4.21
2.20 1.781.78 325325
Duarte
Engenharia
e Construes
Moambique,
LdaLda
37 37 Teixeira
Teixeira
Duarte
Engenharia
e Construes
Moambique,
526526
86 86
19.16 29.44
12.49 14.54
33.04 0.71
1,014
12.32 12.49
7.477.47 12.32
14.5419.16
29.44 33.04
0.71 0.77
0.77 1,014
36 36
- Engenharia
e Construes,
SA SA
35 35 n.an.a CETA
CETA
- Engenharia
e Construes,
69.61
69.61
208,490
226,361 208,490
1.941.94 226,361
21,742
21,742
33 33
11.96 16.48
16.48 24.32
24.32 0.79
7.497.4911.96
0.79 1.071.07
175,238
,343 175,238
77.07 207207
77.07
,343
3.25
3.25
886886
1,370,442 773,953
20.77 1,370,442
2,100,056 20.77
773,953
2,536,157
2,536,157 2,100,056
30.14
130,038 30.14
169,237
169,237 130,038
1,249
1,249
2,854
2,854
2,550 95.32
95.32
2,550
108108
18,140
18,140
17,234
17,234
113113
2,513 277277
2,513
.54.54
3.34
42.84 3.34
42.84
4,982
4,982
4.53
4.53
1,7741,412.83
25.59
1,412.83 25.59
1,774
17,794
17,794
108108
9,488
9,488
0.88
114114 0.88
18.15
4,506 18.15
3.99 9.75
6.58 3.99
47.22115.19
115.19 1.341.34 1.691.69 5,324
5,324 4,506
1.851.85 6.58
9.75 7.087.08 47.22
44 44
100,423 (24.87)
75,448 100,423
(24.87)
75,448
1,199,3391,176,511
2.95 1,199,339
1,209,232 2.95
1,176,511
1,244,870
1,244,8701,209,232
31.65
31.65
5.39
5.39
4.60 96.20
96.20140.45
140.45 1.081.08 1.041.04 1,257
1,257
7.007.00 4.60
50.50
50.50
21.83
21.83
97,009
97,009
419,728
419,728 370,236
370,236 13.37
13.37 150,178
150,178 117,829
117,829
57,620 (100.00)
(100.00)
57,620
(3.50)
(3.50)
263,235
,715
263,235 213,801
213,801 23.12
23.12 127127
,715
52,690
52,690 (0.98)
(0.98)
86.43
86.43
44,629 (21.98)
(21.98)
44,629
8,293 72.61
72.61
8,293
,587
217217
,587
Comrcio
Comrcio
36,552
36,552
64,999
64,999
7,768
7,768
Agricultura
e Pescas
Agricultura
e Pescas
Moambique,
LdaLda
16 16 Petrogal
Petrogal
Moambique,
(12.45)
67.90(12.45)
67.90
68,144
68,144
97,826
97,826
5.81 3.38
0.84 856856
3.38 13.79
13.79 0.55
1.221.22 5.81
0.55 0.84
14,314
14,314
Leaf
Tobacco,
LdaLda
10 10 Mozambique
Mozambique
Leaf
Tobacco,
15 15
59 59
1.961.96
34,821
34,821
7.637.63
44.58
44.58
14 14
271.02
276276 271.02
(1.69)
(1.69)
16.50
16.50
(0.45)
116.71 (0.45)
116116 116.71
122,411
123,079 122,411
123,079
24,356
24,356
133,733
155,793 133,733
6.59 155,793
91.87 6.59
91.87
(16.63)
384.71(16.63)
321321 384.71
(6.04) 2.182.18
271,846 (6.04)
255,426 271,846
255,426
17.61
17.61
199,175 137137
199,175
,760,760
22,905
22,905
87,725
87,725
98 98
0.47
852852 0.47
(0.19)
(0.19)
46.67
137137
,760,760 46.67
6,728 135.64
135.64
6,728
289,453
289,453 239,181
239,181 21.02
21.02
584,918
575,031 584,918
(39.13) 575,031
295.74(39.13)
180180 295.74
22.39
22.39
0.55 41.08
2,298 1.351.35
39.93 3.87
4.47 25.11
0.72 2,329
41.08 39.93
25.11 27.07
27.07 0.67
2,329 2,298
0.55
3.87 4.47
0.67 0.72
176,80
176,80
404,212
475,393 404,212
22.44 475,393
22.44
202,048
202,048
15,854
15,854
21,384 20,944
20,944
21,384
54.96
3,650 54.96
3.88 6.33
3.22 5,656
6.33 5.57
5.57 2.31
5,656 3,650
4.114.11 3.88
2.31 3.22
50.04
50.04
,978 (13.17)
(13.17)
257257
,978
7.297.29
- 5.86
6.03 11.10
5.98
11.10 11.81
11.81 1.681.68 5.98
5.86 6.03
226,404
226,404 146,283
146,283 54.77
54.77 214,973
214,973 143,280
143,280
223,995
223,995
Musica,
LdaLda
32 32 n.an.a Globe
Globe
Musica,
7,632 200.14
200.14
7,632
Construo
Construo
92,432
92,432
(12.87)
4.21 14.47
1,274(12.87)
16.82 15.34
20.85 26.47
0.91 1,110
14.47 16.82
26.47 32.43
32.43 0.67
1,110 1,274
4.21
15.3420.85
0.67 0.91
2,273,6891,857
21.37 2,273,689
1,958,521 21.37
1,857
,021
2,376,969
2,376,9691,958,521
,021
176,462
20.74 176,462
20.74
0.49
3,476 0.49
0.29 (0.37)
(0.37) 0.70
0.70 1.031.03 1.131.13 3,493
3,493 3,476
1.201.20 (0.16)
(0.16) 0.29
2.142.14
- Engil
Eng.
Construo
frica,
SA SA
17 17 Mota
Mota
- Engil
Eng.
Construo
frica,
114,758 (8.50)
(8.50)
114,758
11.10 (0.67)
(0.67)
11.10
6.94
6.94
13 13
7.897.89
34,246
34,246
166,355
177,898 166,355
39.41 177,898
39.41
12,745 126.86
126.86
12,745
4.68
4.68
33.91
33.91
20,829 (23.43)
(23.43)
20,829
41,914
41,914
388,802
46.25 397397
46.25
,110,110 388,802
28,914
28,914
69,111 109.96
109.96
69,111
13.43
13.43
15,948
15,948
1,1151,081.12
1,081.12 3.133.13
1,115
560,842
603,957 560,842
603,957
67,866 46,403
46,403
67,866
13,354 15,550
15,550 (14.12)
(14.12)
13,354
6.87
6.87
490,493
490,493 419,754
419,754 16.85
16.85 102,345
102,345 128,031
128,031 (20.06)
(20.06)
(5.10)
66,851 (5.10)
66,851
((8.78)
940.28 ((8.78)
858858 940.28
15.05
525525 15.05
(6.78)
(6.78)
101,415 72,746
72,746
101,415
,333 16.46
16.46
207207
,333
165,721
177177
,101,101 165,721
7.427.42 256,462
256,462 288,009
288,009 (10.95)
(10.95)
63,442
63,442
(3.67)
(2.24)(10.27)
1,198,583 (2.24)
1,281 (3.67)
1,171,7151,198,583
(0.85) (6.90)
(0.67) (8.58)
(2.83) 1,171,715
(10.27) (0.85)
(8.58) (0.73)
(0.73) 1.101.10 1.721.72 1,234
1,234 1,281
(2.83)
(6.90)(0.67)
(1.50) (0.62)
(2.18) (6.02)
0.75 604604
(0.50) (1.50)
(6.02)(14.36)
(14.36) 0.79
7.697.69 (0.50)
(0.62)(2.18)
0.79 0.75
2013
2013
54,629
54,629
50,927
50,927
49.87
74,437 49.87
74,437
241,459
241,459
Transportes
e Armazenagem
Transportes
e Armazenagem
(0.45)
(0.45)
2012 %13/12
%13/12
2012
%13/12
%13/12 2013
2012%13/12
2012
2012 2013
2012 2013
2012 2013
2013 2012
2013 2012
2012 2013
2013 2012
2012
2013 2012
2013 2012
%13/12
111,555
111,555
,924 204,392
204,392 26.19
26.19 106,375
106,375
257257
,924
Servios
Servios
Comrcio
Comrcio
49,684
49,684 49,910
49,910
2013
2013
2013
2013
5.55
5.55
Indstria
Indstria
Holdings,
SA SA
11 11 Intelec
Intelec
Holdings,
- Linhas
Areas
de de
Moambique,
SA SA
15 15 LAM
LAM
- Linhas
Areas
Moambique,
0.88
0.88
123,968
123,968
Rent
Rent
VNVN
Rent.
Rent.
A. A.
Liq.
Liq. Rent.
Rent.
C. C.
P. P. Liquidez
Liquidez NN
Trabalhadores
Trabalhadores VNVN
por
por
Trabalhador
Trabalhador Novos
Novos
investimentos
investimentos
Profits/
Profits/ Rent.
Rent.
Net
NetS/hs
S/hs
Funds
Funds
Geral
Geral
NN
of of
Employees
Employees Revenue
Revenue
perper
Employee
Employee
realizados
realizados
Revenue
Revenue
Asset
Asset
(%)(%) Current
Current
New
New
Investment
Investment
released
released
3 3
(%)(%)
(%)(%)
Ratio
Ratio
(10(10
USD)
USD)
83,113
83,113
Petroleum
Temane,
LdaLda
13 13 Sasol
Sasol
Petroleum
Temane,
Moambique,
LdaLda
12 12 BPBP
Moambique,
137137
,311,311
4.98
4.98 2,852,362
2,852,362 2,358,819
2,358,819 20.92
20.921,512,718
1,512,7181,333,607
1,333,607
11 11
,340 20.55
20.55
167167
,340
138,520
138,520
,032
67,765 22.45
22.45 1,361,080
1,361,080 1,267
1,267
,032
67,765
12 12
4,396
4,396
310,645
310,645 258,913
258,913 19.98
19.98
Custos
Custos
Operacionais
Operacionais
Operating
Operating
Cost
Cost
3 3
(10(10
USD)
USD)
%13/12
2012%13/12
2012
2012 %13/12
%13/12
2012
1,308,361
1,271,3521,308,361
56.611,271,352
56.61
1,747
1,747
87,924 20.99
20.99
87,924
2013
2013
209,382
327327
,913,913 209,382
3,703(161.57)
(161.57)
3,703
4.67
4.67
%13/12
2012 %13/12
2012
374,242 296,911
296,911
374,242
(2,280)
(2,280)
24,374 (75.49)
(75.49)
24,374
2013
2013
30.31
355,505 30.31
463,273
463,273 355,505
309,017 10.42
10.42
309,017
5,973
5,973
%13/12
2012
2012
%13/12
31.24
253,556 31.24
332,755
332,755 253,556
383,179 285,829
285,829 34.06
34.06 (388,407)
(388,407)(563,353)
(563,353) (31.05)
(31.05)
383,179
110,428 105,505
105,505
1.731.73 110,428
2013
2013
Capitais
Capitais
Prprios
Prprios
Shareholdersfunds
Shareholdersfunds
3 3
(10(10
USD)
USD)
0.00
0.00
341,222
341,222
319,311 (14.22)
(14.22)
319,311
2012
2012 %13/12
%13/12
Passivo
Passivo
Corrente
Corrente
Current
Current
Liabilities
Liabilities
3 3
(10(10
USD)
USD)
31.48
31.48
Servios
Servios
8,113
8,113
2013
2013
Passivo
Passivo
Total
Total
Total
Total
Liabilites
Liabilites
3 3
(10(10
USD)
USD)
3.54
3.54 360,801
360,801 360,789
360,789
Indstria
Indstria
17 17
2012
2012%13/12
%13/12
Activo
Activo
Corrente
Corrente
Current
Current
Assets
Assets
3 3
(10(10
USD)
USD)
514,200
514,200 409,605
409,605 25.54
25.54 293,831
293,831 223,485
223,485
(4,534) (11,419)
(11,419) (60.29)
(60.29)
(4,534)
- Electricidade
de de
Moambique,
E.P.E.P.
7 7 EDM
EDM
- Electricidade
Moambique,
18 18
2013
2013
1,078,602 1,227
1,227
,063 (12.10)
(12.10) (110,732)
(110,732) (10,414)
(10,414) 963.26
963.26 (110,732)
(110,732) (10,414)
(10,414) 963.26
963.26 1,604,140
1,604,140 1,549,249
1,549,249
1,078,602
,063
4 4
10 10
2012%13/12
%13/12
2012
Activo
Activo
Lquido
Lquido
Net
Net
Assets
Assets
3 3
(10(10
USD)
USD)
3 3
72.92
72.92
3.44
3.44
1.521.52
13.72
50.03 13.72
50.03
51,825
51,825
6.53
149.44 6.53
159159 149.44
510510
57 57
(20.04)
64,815
64,815 (20.04)
280280
81.84
81.84
18,528
18,528
4.81
270270 4.81
(19.18)
184.86(19.18)
149149 184.86
21,421
21,421
64 64
14.29
56 56 14.29
(7.40)
729.18 (7.40)
675675 729.18
5,349
5,349
1.191.19
21,625 62.62
35,165 21,625
(11.23) 0.150.15(0.82)
(5.92) 0.64
35,165
0.64 0.740.74 437437
62.62 1.861.86 (11.23)
(0.82) 1.661.66 (5.92)
34.46
325325 34.46
105105
15.72
90.80 15.72
90.80
13,912
13,912
85,541
(33.99)
85,541 (33.99)
(54,921) (0.45)
(54,673) (54,921)
(56.57) (3.52)
(34.48) 0.85
(54,673)
(50.52)(56.57)
(3.52)(4.81)
(28.40)(34.48)
0.85 0.94
(0.45)(50.52)
(4.81)(28.40)
0.94 865865
(1.48)
878878 (1.48)
46 46
(13.14)
52.74 (13.14)
52.74
9,458
9,458
92.31
92.31
(25,030) (19,208)
99.87 (25,030)
99.87
(19,208)
30.31
30.31
2,833
2,833
2,521
2,521
12.36
12.36
(43.81)
2,239
2,239 (43.81)
- 1.131.13 1.891.89 700700
18.87 0.24
1.401.40 6.04
6.04 8.99
21.60 18.87
0.24 0.45
8.99 21.60
0.45
446446
53.33
15 15 53.33
- 720720
4.35
690690 4.35
13.32 1.101.10 1.111.11 112112

1.831.83 2.41
12.57 13.32
2.41 12.57
103103 8.748.74
(10.55)(15.08)
23.41
48 48 828.26
(15.77)(10.55)
(15.08)
(12.00)
27.20 23.41
828.26(15.77)
(12.00) 27.20
0.95
5.55
0.92 0.95
5.55 0.92
23 23
21,879 21.23
26,524 21,879
19.92 33.98
107.28 3.62
26,524
21.16 19.92
33.9837.30
59.88107.28
3.62 2.55
21.23 21.16
37.30 59.88
2.55
34,116
36,010 34,116
36,010
n.dn.d
79 79
(25.69)
2,771.20(25.69)
2,059
2,0592,771.20
650650
(9.50)
59.80 (9.50)
59.80
4,150
4,150
11.48
305.05 11.48
340340 305.05
0 0
54 54
2.16
2.16
495495
1,046
1,046
2,198 (52.42)
(52.42)
2,198
1,805
1,805
3,379 (46.57)
(46.57)
3,379
14,562
14,562
13,989
13,989
4.10
4.10
14,138
14,138 13,734
13,734
2.94
2.94
13,304
13,304
13.02
11,772 13.02
11,772
11,772
13,304
13,304 11,772
13.02
13.02
1,258
1,258
120.04 1.061.06 1.171.17

59.81120.04
7.187.1815.71
15.71 59.81
68 68
63 63 7.947.94
(31.27)
541541 787787
.73.73 (31.27)
0 0
3,151
3,151
3,570 (11.74)
(11.74)
3,570
4,580
4,580
4,976 (7.96)
(7.96)
4,976
64,312
64,312
43,269
43,269 48.63
48.63
63,638
63,638 42,964
42,964
48.12
48.12
51,750
51,750
52.82
33,862 52.82
33,862
12,983
19,646
19,646 12,983
51.32
51.32
12,562
12,562
9,499
9,499
32.25
32.25
13,033 10.21
14,363 13,033
12.48 4.90
45.97 3.24
8.91 12.48
4.90 8.25
28.57 45.97
3.24 3.31
14,363
10.21 8.91
8.25 28.57
3.31
61 61
10.91
55 55 10.91
2.31
595.87 2.31
610610 595.87
98 98
27,427 28.79
28.79
27,427
634634
(4.00)
661661 (4.00)
1,383
1,383
1,065 29.87
29.87
1,065
36,697
36,697
35,627
35,627
3.00
3.00
31,691
31,691 32,249
32,249
(1.73)
(1.73)
34,111
34,111
2.24
33,363 2.24
33,363
29,098
30,686
30,686 29,098
5.46
5.46
2,586
2,586
2,286
2,286
13.12
13.12
24,662 26.27
31,141 24,662
2.41
31,141
26.27 1.801.80 2.41
24,547 43.39
43.39
24,547
286286
136.91
121121 136.91
422422
53.21
275275 53.21
30,977
30,977
25,602
25,602 20.99
20.99
14,764
14,764 11,389
11,389
29.63
29.63
29,848
29,848
18.68
25,151 18.68
25,151
25,151
29,848
29,848 25,151
18.68
18.68
2,931
2,931
543.36
456456 543.36
4,408
4,408
3,908 12.80
4.43
2.95 4.43
3,908
12.80 2.95
503.98
886886 503.98
8,999
8,999
-
623623
54.58
54.58
-
4.34
4.34
(42.56)
7,225
7,225 (42.56)
0 0
0 0
(58.80)
238238 (58.80)
23.33
2,038
14.64
27.62
83.62 14.64
1,597 /2771
330330edition
23.33
83.62
2,038
1,597
.62
The sixteenth
/96A96 dcima
sexta
edio
28.57 1.031.03 1.111.11 407407

26.04 28.57
1.731.73 1.851.85 26.04
24,272 31.78
31,985 24,272
0.49 0.92
29.05 0.49
0.81 0.49
0.92 0.47
16.86 29.05
0.49 0.45
31,985
31.78 0.81
0.47 16.86
0.45 603603
6.54
566566 6.54
60 60
4.02
57.89 4.02
57.89
599599
(95.32)
12,813 (95.32)
12,813
43 43
Servios
Investimentos
e Trading,
LdaLda
40 40 Servitrade
Servitrade
Servios
Investimentos
e Trading,
Construo
Construo
42,613
42,613
40,866
40,866
89,556
89,556
77,489 15.57
15.57
77,489
31,426 43,932
43,932 (28.47)
(28.47)
31,426
59,651
59,651
(3.12)
61,572 (3.12)
61,572
27,815 23,294
27,815
23,294
19.41
19.41
44 44
de de
Carvo
da Matola,
LdaLda
39 39 Terminal
Terminal
Carvo
da Matola,
Transportes
e Armazenagem
Transportes
e Armazenagem
41,311
41,311
43,535 (5.11)
(5.11)
43,535
20,242
20,242
11,184 80.99
80.99
11,184
27,475
27,475
15,693 75.08
75.08
15,693
106,590
106,590
79,144 34.68
34.68
79,144
25,415 15,134
15,134
25,415
67.93
67.93
66,209
66,209
11.72
59,264 11.72
59,264
56,125 46,611
56,125
46,611
20.41
20.41
40,381
40,381
20,074
20,074
101.16
101.16
14.13 66.96
0.32 283283
12,820
18.9914.13
0.45 0.32
12,820 26,791
26,791 (52.15)
(52.15) 49.00
49.00 25.69
25.69 18.99
66.96 65.07
65.07 0.45
45 45
Petroleum,
LdaLda
47 47 African
African
Petroleum,
Comrcio
Comrcio
40,514
40,514
32,448 24.86
24.86
32,448
627627
38.23
453453 38.23
922922
63.69
563563 63.69
10,384
10,384
5,042 105.94
105.94
5,042
968968
41.04
41.04
7,121
7,121
181.88
2,526181.88
2,526
2,161
2,161 160.64
160.64
3,263
3,263
2,540
2,540
28.44
28.44
40,345
40,345 31,222
31,222 29.22
29.22 1.551.55
46 46
Banco,
SA SA
57 57 Moza
Moza
Banco,
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
40,032
40,032
21,247 88.41
88.41
21,247
(2,387)(131.17)
(131.17)
744744 (2,387)
1,226
1,226
(2,907)(142.18)
(142.18)
(2,907)
494,827 290,118
290,118 70.56
70.56 262,331
262,331 180,601
180,601
494,827
45.25
45.25
82.84
245,960 82.84
449,707
449,707 245,960
410,683 244,830
410,683
244,830
67.74
67.74
45,120
45,120
44,590
44,590
47 47
Bank
Moambique,
SA SA
50 50 Barclays
Barclays
Bank
Moambique,
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
39,924
39,924
45,858 (12.94)
(12.94) (20,168)
(20,168) (25,942)
(25,942) (22.26)
(22.26)
45,858
1.891.89
13.67
454,740 13.67
516,906
516,906 454,740
421,964 376,363
421,964
376,363
12.12
12.12
56,464
56,464
Rank
Rank
Empresa
Empresa
48 48
Company
Company
Mozambique,
LdaLda
48 48 Grindrod
Grindrod
Mozambique,
Activity
Activity
Servios
Servios
39,126
39,126
Vol.
VodedNeg.
N g
Revenues
R 22.77
31,869
22.77
31,869
(103 USD)
USD
49 49
da Regio
de de
Maputo,
SA SA
46 46 guas
guas
da Regio
Maputo,
Servios
Servios
38,152
38,152
39,827 (4.20)
(4.20)
39,827
Comrcio
Comrcio
2013
36,557
36,557
%
2012 %13/12
34,623 5.59
5.59
34,623
2013
2013 2012
2012
Moambique,
LdaLda
50 50 44 44 Unicomo
Unicomo
Moambique,
Sector
Sector
dede
Actividade
Actividade
4.28
4.28
1 1
51 51
SARL
1 1 Mozal,
Mozal,
SARL
CGM
Mozambique,
LdaLda
36 36 CMA
CMA
CGM
Mozambique,
Indstria
Transportes
e Armazenagem
Transportes
e Armazenagem
2 2
52 52
- Petrleos
de de
Moambique,
SA SA
2 2 PETROMOC
PETROMOC
- Petrleos
Moambique,
Moambique
Companhia
de de
Seguros
, SARL
49 49 Hollard
Hollard
Moambique
Companhia
Seguros
, SARL
Comrcio
m
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
Moambique,
SA SA
Moambique,
3 3 n.an.a ValeVale
- Sociedade
Tcnica
de de
Obras
e Projectos,
LdaLda
53 53 51 51 Televisa
Televisa
- Sociedade
Tcnica
Obras
e Projectos,
12,653
12,653
(6,016) (4,203)
(4,203) 43.15
43.15
(6,016)
%
2012 %13/12
2.16
329329 2.16
2013
336336
573,371 539,453
539,453
573,371
24,356
24,356
Activo
A
Lquido
o qu do
Net
N Assets
A
17,016
43.14
17,016
43.14
(103 USD)
USD
(4,261)
(4,261)
(5,134) (17.01)
(17.01)
(5,134)
39,901
39,901
35,014 13.96
13.96
35,014
2013
495495
%
2012 %13/12
0.15
494494 0.15
2013
18,421
18,421
2012 %13/12
%
13,660 34.86
34.86
13,660
1,604,140 1,549,249
1,078,602
1,227,063
(12.10)
(110,732)
(10,414)
963.26
(110,732)
(10,414) 963.26
35,461
1,046
2,198
1,805
3,379
14,562
35,461 49,627
49,627 (28.54)
(28.54)
1,046
2,198 (52.42)
(52.42)
1,805
3,379 (46.57)
(46.57)
14,562 13,989
13,989
629,422
595,158
5.76
35,360
35,360 28,602
28,602 23.63
23.63
(3,177)
(8,929)
(64.42)
3,151
3,151 3,570
3,570 (11.74)
(11.74)
%
2012 %13/12
39.64
11,163 39.64
11,163
2013
2012
%13/12
%
15,588 11,163
15,588
11,163 39.64
39.64
64 64
56 56 14.29
14.29
675675 729.18
729.18 (7.40)
(7.40)
5,349
5,349
1.191.19
(0.82) 1.661.66 (5.92)

35,165
0.64 0.740.74 437437
35,165 21,625
21,625 62.62
62.62 1.861.86 (11.23)
(11.23) 0.150.15(0.82)
(5.92) 0.64
325325 34.46
34.46
105105
90.80
90.80 15.72
15.72
85,541
85,541 (33.99)
(33.99)
(4.81)(28.40)
0.94 865865
(54,673)
(3.52)(4.81)
0.85 0.94
(54,673) (54,921)
(54,921) (0.45)
(0.45)(50.52)
(50.52)(56.57)
(56.57) (3.52)
(28.40)(34.48)
(34.48) 0.85
878878 (1.48)
(1.48)
46 46
52.74
52.74 (13.14)
(13.14)
(103 USD)
USD
99.87
99.87 (25,030)
(25,030) (19,208)
(19,208)
2013
2,833
2,833
30.31
30.31
2012
%13/12
%
2,521
2,521 12.36
12.36
8.99 21.60
0.45
1.401.40 6.04
6.04 8.99
0.24 0.45
21.60 18.87
18.87 0.24
Rent
Rent
VNVN
Rent.
R A. A
Liq.
Rent.
Rent.
C. C.
P. P. Liquidez
O 21,879 Cost
C21.23 21.16
Profits/
Profits/
Rent.
R 37
Net
N.30S/hs
S/hs
Funds
Funds
Geral
G2.552.55
37
26,524
21,879
21.23
19.92
33.98
.30
59.88
107
.28
3.62
26,524Operating
21.16
19.92 33.98
59.88
107.28 3.62
(103 USD)
USD
446446
Revenue
Revenue
(%)(%)
Asset
A
(%)%
(%)(%)
(12.00) 27.20
48 48 828.26
(15.08)
(12.00)
828.26(15.77)
(15.77)(10.55)
(10.55)(15.08)
27.20 23.41
23.41
Current
C
Ratio
R
-
- 720720
287,784
326,072
(11.74)
28,537
28,537 26,735
26,735 6.746.74
8 8
58 58
- Portos
e Caminhos
E.P.
9 9 CFM
CFM
- Portos
m de Ferro de Moambique,
M m
- Cimpor
Beto
Moambique,
SA SA
59 59 CIMBETO
CIMBETO
- Cimpor
Beto
Moambique,
m
m
Indstria
Indstria
276,590
235,563
17.42
28,312
19,291
28,312
19,291 46.77
46.77
9 9
59 59
5 5 mCel
m - Moambique
M m Celular, SA
- Moambique
Expresso,
SARL
58 58 MEX
MEX
- Moambique
Expresso,
SARL
Comunicaes
m
Transportes
e Armazenagem
Transportes
e Armazenagem
273,911
27,378
27,378
10 10
60 60
Banco Internacional de Moambique,

SA
8 8 BIM -M
M m
Moambique,
LdaLda
53 53 Ferro
Ferro
Moambique,

Comrcio
Comrcio
268,791
264,224
26,464
26,464 24,637
24,637
11 11
61 61
13 13 Sasol Petroleum Temane,

m m Lda
- First
National
Bank
Moambique,
SA SA
63 63 FNB
FNB
- First
National
Bank
Moambique,
Indstria
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
12 12
62 62
11 11 Intelec Holdings, SA
de de
Desenvolvimento
do do
Norte
(CDN),
SARL
41 41 Corredor
Corredor
Desenvolvimento
Norte
(CDN),
SARL
Servios
Transportes
e Armazenagem
Transportes
e Armazenagem
207,333
16.46
13,354
15,550
(14.12)
42,035
42,035 (39.99)
(39.99) (14,377)
(14,377) (11,643)
(11,643) 23.48
23.48
13 13
63 63
17 17 Mota
M - Engil Eng. Construo frica, SA
SA SA
78 78 BancABC,
BancABC,
Construo
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
223,995
25,148
25,148
257,978
(13.17)
21,226
21,226 18.48
18.48
15,854
1,076
1,076
6,728
135.64
2,336
2,336 (53.93)
(53.93)
22,905
1,695
1,695
200.14
7,632
3,451
3,451 (50.87)
(50.87)
207,873
4.67
9,119
9,119 149.21
149.21
14,314
8,293
72.61
828828 (1,755)
.16).16)
(1,755) (147
(147
116,602
4,591
4,591
8,273
(1.94)
456456 (2.72)
(2.72)
9,484
491491
55,909
49,161
13.73
1,230
481481 155.77
1,230
155.77
82,980
1,690
1,690
2,779
242242
56,025
-
(1.61)
9,639
524524 (6.27)
(6.27)
1,889,747 1,938,051
14,876
14,876
138,520
22,237
22,237
(2.49)
-
137,311
0.88
15,007
15,007 48.18
48.18
311,954
339,821
13,471
13,471
49,684
49,910
9,693
9,693 6,871
6,871
(8.20)
-
(0.45)
41.06
41.06
22.45
1,361,080
1,267,032
7.42
256,462
288,009
(10.95)
67,765
932932 81.19
16,463
7,057
81.19
16,463 11,356
11,356 44.98
44.98 11,753
11,753
7,057 66.55
66.55
(89.44)
26,332
280280 (13.35)
(13.35)
490,493
419,754
16.85
102,345
128,031
(20.06)
15,748
3,410
3,933
15,748
3,410 361.75
361.75
3,933 3,284
3,284 19.78
19.78
4.98
2,852,362 2,358,819
20.92 1,512,718 1,333,607
130,221
124,042
1,027
1,074
25,389
17,342
1,027
1,074 (4.43)
(4.43)
25,389
17,342 46.40
46.40 19,704
19,704 12,291
12,291
13.43
60.31
60.31
257,924
204,392
26.19
106,375
87,924
20.99
26,455
18,151
3,483
.58).58)
26,455
18,151 45.75
45.75
3,483 (3,238)
(3,238)(207
(207
20.92
156,534
129,449
4,091
4,091 (3,294)
(3,294)(224.18)
(224.18)
815,813
713,328
14.37
236,118
176,320
268,083
268,083 193,895
193,895 38.26
38.26 149,453
149,453 130,839
130,839
33.91
14.23
14.23
241,459
25,225
25,225
126.86
28,914
12,745
(10,275)
(10,275) (11,729)
(11,729) (12.40)
(12.40)
289,453
239,181
21.02
185,812
185,812 39,216
39,216 373.81
373.81
87,725
83,113
5.55
50,993
50,993 15,675
15,675 225.31
225.31
226,404
146,283
54.77
214,973
143,280
310,641
310,641 209,845
209,845 48.03
48.03 294,233
294,233 194,786
194,786
50.04
51.05
51.05
446,021
547,053
11,647
11,647
63,442
15,977
15,977
(18.47)
-
66,851
(5.10)
42.29
11,228 42.29
11,228
349,034
321,958
8.41
47.60
8,151 47.60
12,031
12,031
8,151
110,810
89,406
11,363 7,435
7,435
11,363
314,031
244,672 28.35
1,247
13,141
13,141
975975
1,247
.53.53
184,428
152,753
798798
975975
2,376,969 1,958,521
21.37
2,273,689 1,857,021
15,118
88.54
8,763 88.54
16,523
7,181
16,523
8,763
15,118
7,181
603,957
560,842
7.69
(0.50)
(1.50)
(0.62) (2.18) (6.02) (14.36)
0.79
0.75
604
8.25 28.57
3.31 61 61
4.90 8.25
3.24 3.31
14,363 13,033
13,033 10.21
10.21 8.91
8.91 12.48
12.48 4.90
28.57 45.97
45.97 3.24
14,363
230,085
207,237
25,408
25,408
-
11.03
-
25.36
38.50
- 10.14
10.14
-
4.09
20.48
- 20.48
5.52
64.07
64.07
273,441
300,238
(8.93)
2.82
27,302 25,737
25,737 6.08
6.08 1.561.56
27,302
23.94
901,236
864,034
52.83
4,433
3,236
52.83
4,433
3,236
4.31
36.98
36.98
213,870
196,962
8.58 20.21
20.87
25,770 17,594
17,594 46.47
46.47 4.34
4.34 2.49
2.49
25,770
176,80
2,459
2,459
(0.19)
6.00
6.00
255,426
271,846
(6.04)
2.18
26,670 19,917
19,917 33.91
33.91 0.35
0.35
26,670
22.44
475,393
404,212
110.51
8,866
8,662
110.51
8,866
8,662
17.61
2.36
2.36
123,079
122,411
24,534 23,217
23,217
24,534
376,953
328,291
14.82
37.37
173,590 37.37
238,463 173,590
238,463
67,866
46,403
,002 107,147
107,147
237237
,002
46.25
121.19
121.19
397,110
388,802
29,620 20,503
20,503
29,620
2.14
44.47
44.47
111,555
219,460
219,460
74,437 49.87
275.10
58,506275.10
58,506
101,415
72,746
43,179 28,168
28,168
43,179
39.41
177,898
166,355
53.29 (19,290)
(19,290) (19,479)
(19,479)
53.29
6.94
(0.97)
(0.97)
202,048
137,760 46.67
48.03
209,845 48.03
310,641 209,845
310,641
199,175
137,760
282,415 182,189
182,189
282,415
44.58
55.01
55.01
6.07
-
5.42
-
8.24
-
2.47
- 1.161.16
3.94
-
0
- 220220
5.86 6.03
11.10
11.81
1.68
5.98
7
3.04 8.81
0.83 270270
2.00 3.04
0.84 0.83
8.81 16.38
16.38 0.84
1.711.71 2.00
99.45
-
0
-
57,620
-
(100.00)
-
79,677
(15.71)
3,094 (55.99)
3,094
(55.99)
64,999
-
852
0.47
27.59
116116 27.59
321
384.71 (16.63)
175.73 18.02
18.02
207207 175.73
97,826
-
0.55
41.08
39.93
3.87 4.47 25.11
27.07
0.67
0.72 2,329
2,298
1.35
2.71 5.66
5.67 1.871.87 1.911.91 1.951.95 2.71
5.66 5.46
5.46 1.301.30 1.711.71 30 30
20.00
5.67
25 25 20.00
7.63
1.22 5.81
3.38
13.79
0.55
0.84
856
3.37 148148
0.62 6.016.01 3.84
4.93 3.37
3.84 8.33
8.33 4.93
1.021.02 0.62
116
116.71
(0.45)
1,026.55 (6.26)
(6.26)
9629621,026.55
34,821
0 0
94,628
70,315
34.58
41.24
43.02
13.04 12.33
27.07 23.42
3.48
3.80
193
(1.67) 13.90
0.63 1.221.22 280280
21,877 20,245
20,245 8.06
8.06 13.17
13.17 (17.84)
(17.84) 1.301.30(1.67)
13.90(15.64)
(15.64) 0.63
21,877
50.50
-
44,629
(21.98)
1,500 (100.00)
1,500
(100.00)
182
6.04
8.95
257257 8.95
1,376 1,123.03
22.49
73.04 34.89
34.89
99 99 73.04
210,568
190,502
10.53
5.53
7.50
4.61 6.50
7.76
10.24
0.87
1.14 1,070
1,085
(1.38)
(29.69) 74.17
0.56 516516 518518 (0.39)
(7.74)
35,501 53,764
53,764 (33.97)
(33.97)(57.00)
(57.00) (27.70)
(27.70) (7.74)
74.17 73.61
73.61 1.181.18 0.56
(0.39)
35,501
(29.69)
224
267.01 (16.07)
69.19(29.48)
(29.48)
49 49 69.19
92,229
92,229
6,583 1,301.04
6,583
1,301.04
201
328.84 (38.91)
148.43 (9.16)
(9.16)
135135 148.43
9,488
2,740
2,740
2,513
277.54
6,682 (58.99)
6,682
(58.99)
8,606
183.00
(201,090) (250,347)
(19.68)
7.08
2.61
7.00 4.60 96.20 140.45
1.08
1.04 1,257
0.35 1.111.11 4.44
24,340
(1.08)
17,384 15,351
15,351 13.24
13.24 4.28
4.28 11.00
11.00 0.35
4.44 9.84
9.84 1.041.04 1.071.07 207207
24,340
(1.08)
17,384
14,314
828828
72.61
8,293
(1,755)
.16).16)
(1,755)(147
(147
146,819
28,718
28,718
117,209
25.26
12,045
12,045 138.41
138.41
90,339
75,472
19.70
27,050
27,050 9,923
9,923 172.59
172.59
109,472
27,173
27,173
94,157
16.27
139.89
11,327139.89
11,327
67,232
44,576
50.83
27,173 11,327
11,327 139.89
139.89
27,173
37,347
1,545
1,545
23,277
725725
4,429
272272
4,396
0.76
2,974
2,974 (90.87)
(90.87)
7,768
833833
23.12
6,309
2,344
2,344 (64.48)
(64.48)
87,468
36,003
36,003
61,020
43.34
25,587
25,587 40.71
40.71
70,414
45,041
4,487
4,487 3,946
3,946
56.33
13.72
13.72
59,165
32,480
32,480
37,142 59.30
50.75
21,545 50.75
21,545
59,165
24,638
24,638
37,142
17,084
17,084
59.30
44.21
44.21
28,302
3,523
3,523
24,112
17.38
4,082 (13.69)
(13.69)
4,082
194,928
155,445
25.40
2.18
2.67
5.06
7.20 16.90
17.92
1.19
1.21
115
11.62 7.147.14 71.11
0.23 196196
0.7511.62
22,134 16,405
16,405 34.92
34.92 1.231.23 15.76
15.76 0.75
71.11 0.180.18 0.23
22,134
16 16
66 66
SARL
14 14 Total Moambique,
M m
Lda.
60 60 Agrifocus,
Agrifocus,
Lda.
Comrcio
m
Comrcio
Comrcio
201,727
21,665
21,665
167,340
20.55
19,058
19,058 13.68
13.68
7,585
12,335
(38.51)
2,140
2,140 2,303
2,303 (7.07)
(7.07)
13,553
3,276
3,276
(25.15)
18,107
3,507
3,507 (6.57)
(6.57)
101,328
103,102
(1.72)
19,900
19,900 16,227
16,227 22.63
22.63
45,042
47,729
18,664
18,664 15,071
15,071
(5.63)
23.85
23.85
57,268
7,045
7,045
55,571
3.05
28.66
5,476 28.66
5,476
56,775
44,554
7,045 5,442
5,442
7,045
27.43
29.45
29.45
44,060
12,855
12,855
47,996
10,823
10,823
(8.20)
18.78
18.78
184,258
147,429
24.98
3.76
7.37
7.49 11.96 16.48 24.32
0.79
1.07
14.19 18.07
2.77
10.7514.19
2.65 2.77
18,589 15,976
15,976 16.36
16.36 9.88
9.88 12.08
12.08 10.75
18.07 22.52
22.52 2.65
18,589
Comrcio
m
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
200,149
206,332
(3.00)
20,511
8,549
20,511
8,549 139.93
139.93
(3,773)
4,268 (188.40)
(3,370)
(3,370) (9,941)
(9,941) (66.10)
(66.10)
(4,128)
6,589 (162.66)
(4,748)
(4,748) (14,691)
(14,691) (67.68)
(67.68)
137,893
131,513
4.85
299,095
299,095 229,688
229,688 30.22
30.22
77,566
-
(3.58)
-
57,222
47,680
20.01
37.24
195,166 37.24
,848 195,166
267267
,848
57,222
-
20.01
-
76,575
31,247
31,247
81,128
34,860
34,860
(5.61)
(10.37)
(10.37)
m
m
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
177,101
165,721
6.87
18,380
8,741
18,380
8,741 110.28
110.28
(91.14)
3,526
2,344
2,344 284.10
284.10
145,611
142,675
2.06
93,092
93,092 52,450
52,450 77.49
77.49
41,725
40,198
18,090
18,090 11,368
11,368
3.80
59.13
59.13
115,373
113,463
1.68
64.83
47,079 64.83
77,598 47,079
77,598
48,349
45,657
5.90
3,309 1,257
1,257 163.31
163.31
3,309
30,238
15,495
15,495
29,497
2.51
5,424 185.69
185.69
5,424
463.50
-
36,552
86.43
160160 (23.30)
(23.30)
67,160
1,362
1,362
217,587
22,724
22,724
68,144
123123
59
67.90 (12.45)
25.80
449449 357357
.23.23 25.80
203,161
164,595
23.43
22,164
22,164 18,863
18,863 17.50
17.50
312
9,004
9,004
276
271.02
1.96
130.05 53.65
53.65
200200 130.05
924
-
(1.69)
27.62
27.62
91.87
6.59
155,793
133,733
16.50
57.89 4.02
4.02
12,813 (95.32)
57.89
599599 12,813
(95.32)
4.11 3.88
6.33
5.57
2.31
3.22 5,656
3,650 54.96
4.23 32.07
0.95 67 67
32.07 13.69
13.69 1.031.03 0.95
13.56
7.477.47 4.23
59 59 13.56
Comrcio
m
Comunicaes
Comunicaes
4,622
(77.77)
2,075
2,075 193.05
193.05
98
60 60
1,799
156.93
2,099 (12.51)
2,099
(12.51)
Agricultura e Pescas
Construo
Construo
1,027
6,079
6,079
180
295.74 (39.13)
575,031
584,918
83.62 14.64
14.64
2,038
1,597
96 96 83.62
2,038
1,597
4,623
1,836
1,836
Lda
16 16 Petrogal Moambique,
M m
Cabo
- Comunicao
Multimdia,
LdaLda
61 61 TV TV
Cabo
- Comunicao
Multimdia,
47,680
-
7,225
7,225 (42.56)
(42.56)
41,112 46,581.77
(11.74)
138.16 (12.11)
(12.11)
121121 138.16
15 15
65 65
80,450
-
659 (100.00)
- -
54 54
7
0.00
35.00
200200 35.00
24,356
24,078
24,078
60.44
113.01
113.01
525
15.05
10.91
55 55 10.91
65,412
62,772
4.21
14.47
16.82
15.34 20.85 26.47 32.43
0.67
0.91
1,110
1,274 (12.87)
3.28 8.148.14 14.59
0.66 1.671.67 177177 173173 2.31
34,233 22,715
22,715 50.71
50.71 1.331.33 2.54
2.54 3.28
14.59 20.20
20.20 0.66
2.31
34,233
71,149
3,816
3,816
20.74
176,462
(18.18)
2,607
(18.18)
2,607
34,246
22.39
238238 (58.80)
(58.80)
667,573
512,620
30.23 (101.36) (197.09) (11.07) (20.80) 49.90 191.83
3.62
1.93 2,324
1,933 20.23
31,141 24,662
24,662 26.27
26.27 1.801.80 2.41
2.41 1.731.73 1.851.85 26.04
26.04 28.57
28.57 1.031.03 1.111.11 407407 330330 23.33
23.33
31,141
41,914
98 98
328,876
296,019
11.10
(0.67)
1.20
(0.16) 0.29 (0.37)
0.70
1.03
1.13 3,493
3,476
0.49
0.47 16.86
0.45 603603 566566 6.54
0.92 0.47
0.49 0.45
31,985 24,272
24,272 31.78
31.78 0.81
0.81 0.49
0.49 0.92
16.86 29.05
29.05 0.49
6.54
31,985
75,078
6,260
6,260
54.58
54.58
1,115 1,081.12
3.13
595.87 2.31
2.31
610610 595.87
65.07
13.12
13.12
1,443,726 1,404,599
3,229
3,229
-
25.47
618,770
620,180
(0.23)
18.68
2,931
543.36
18.68
2,931
456456 543.36
46.53
-
20,829
(23.43)
0 0
-
217,487
288,279
(24.56) (969,548)
(587,347)
30,686 29,098
29,098
5.46
2,586
2,286
30,686
5.46
2,586
2,286
8,999
8,999
15,948
0 0
(6.78)
32.25
32.25
8,351
253.98
8,312 38.20
38.20
8,312
858
940.28 ((8.78)
(31.27)
541541 787787
.73.73 (31.27)
54,629
9,499
9,499
29,561
11,487
11,487
2012
%13/12
%
0 0
-
2.79
-
304,606
305,675
30,054
30,054
Servios
Comrcio
Comrcio
87,293
42.01
170.03
4,008170.03
4,008
13,912
13,912
886886 503.98
503.98
2013
0 0
126,341
86,219
11,647
11,647
-
108.13
-
Indstria
Servios
Servios
SARL
3 3 MOTRACO,
MOTRACO,
SARL
Group,
LdaLda
52 52 Hariche
Hariche
Group,
4.08
7.167.16
4,150
4,150
7.72
11.94
11.94
82,986
79,735
7,171
7,171 6,692
6,692
59.80
59.80 (9.50)
(9.50)
123,968
87,293
42.01
186,677
173,299
10,823 4,008
4,008 170.03
170.03
3,369
3,009
10,823
3,369
3,009
310,645
258,913
19.98
14,192
6,988
14,192
6,988 103.08
103.08
2013
2012 %13/12
%
340340 305.05
305.05 11.48
11.48
123,968
10,823
10,823
(8.08)
76,148
650650 37.61
37.61
7 7
57 57
Linhas Areas de Moambique,

SA
15 15 LAM -M
M m
- Financial
Services
Mozambique,
SA SA
93 93 LETSHEGO
LETSHEGO
- Financial
Services
Mozambique,
690690 4.35
4.35
181,848
144,938
29,848 25,151
25,151
29,848
69,995
894894
2013
2012 %13/12
%
2013
2012
2013 2012
2013
2012
2013
2012
2013
2012 %13/12
%
2.41 12.57
36,010
36,010 34,116
34,116 5.55
5.55 0.92
0.92 0.95
0.95 1.831.83 2.41
12.57 13.32
13.32 1.101.10 1.111.11 112112 103103 8.748.74
836,261
671,862 24.47
18.68
25,151 18.68
29,848 25,151
29,848
50,927
12,562
12,562
NN
Trabalhadores
Trabalhadores VNVN
por
por
Trabalhador
Trabalhador Novos
N investimentos
m
N23
N
of of
Employees
Employees
Revenue
per2,771.20
per
Employee
Employee
realizados
23
15
2,059
(25.69)
650650
623
4.34
15 53.33
53.33 Revenue
2,0592,771.20
(25.69)
623
4.34
New
N w
Investment
m released
(103 USD)
U D
4,478,951 3,289,573
36.16
2.24
33,363 2.24
34,111 33,363
34,111
47,646
53,980
(11.73)
465465
569569 (18.22)
(18.22)
18 18
68 68
41.74
(1.73)
(1.73)
321,017
2.61
22,368
22,368 56.33
56.33
Lda
M m
17 17 12 12 BP Moambique,
nico,
SA SA
67 67 n.an.a Banco
Banco
nico,
13.70
29.63
29.63
329,388
34,969
34,969
M m Leaf Tobacco, Lda

14 14 10 10 Mozambique
, Lda
64 64 n.an.a EMOCIL
EMOCIL
, Lda
n.dn.d
(83.52)
1,455,030 1,286,037
13.14
186,476
164,014
10,602
275275 53.21
30,977
53.21
30,977 25,602
25,602 20.99
20.99 14,764
14,764 11,389
11,389
Indstria
Comrcio
Comrcio
4.67
5.43
5.43
Custos
C
Operacionais
O
(21.04)
3,509,403
2,707,913
29.60
787,401
555,505
(477,213) (604,362)
1,383
1,065
36,697
1,383
1,065 29.87
29.87
36,697 35,627
35,627 3.00
3.00 31,691
31,691 32,249
32,249
de de
Moambique,
SARL
4 4 Cervejas
Cervejas
Moambique,
SARL
Industrial,
SA SA
56 56 TCNICA
TCNICA
Industrial,
1.73
110,428
105,505
7.417.41
496496
471471
26.05
51.32
51.32
5 5
55 55
24,374
(75.49)
205205 (52.56)
(52.56)
2013
15,588
15,588
(103 USD)
USD
17,105
17,105
374,242
296,911
19,646 12,983
12,983
19,646
1,747
422422
5,973
97 97
2013
2012
%13/12
%
17,089 12,430
12,430 37.48
37.48
17,089
463,273
355,505 30.31
52.82
33,862 52.82
51,750 33,862
51,750
3,703 (161.57)
121121 136.91
136.91
319,311 (14.22)
20,034
20,034 36.66
36.66
34,188
34,188
Capitais
C
Prprios
31.48
48.12
48.12
(2,280)
286286
(34.37)
-
20.16
54,036 20.16
54,036
18,528
18,528
21,421
21,421
514,200
409,605
25.54
293,831
223,485
64,312
64,312 43,269
43,269 48.63
48.63 63,638
63,638 42,964
42,964
(60.29)
(4,534)
(11,419)
4,580
4,976
4,580
4,976 (7.96)
(7.96)
309,017
10.42
24,547
24,547 43.39
43.39
64,931
64,931
Shareholdersfunds
18,189
9,458
18,189
9,458 92.31
92.31
- 1.131.13 1.891.89 700700
149149 184.86
184.86(19.18)
(19.18)
56.61 1,271,352 1,308,361

(2.83)
1,171,715 1,198,583
(2.24) (10.27)
(0.85)
(6.90) (0.67) (8.58)
(0.73)
1.10
1.72 1,234
1,281 (3.67)
15.71 59.81
13.02
1,258
2,239 (43.81)
(43.81)
4,408 3,908
3,908 12.80
12.80 2.95
2.95 4.43
4.43 7.187.1815.71
59.81120.04
120.04 1.061.06 1.171.17 68 68
13.02
1,258
2,239
4,408
63 63 7.947.94
383,179
285,829
34.06
(388,407) (563,353)
(31.05)
35,325
27,427
634634
661661 (4.00)
35,325
27,427 28.79
28.79
(4.00)
8,113
444444
(103 USD)
USD
Passivo Corrente
C
Current
C 6,116
Liabilities
6,167
6,167
0.83
6,116
0.83
270270 4.81
4.81
327,913
209,382
13,304 11,772
11,772
13,304
341,222
35,199
35,199
77,234
117,679
3,047
3,047
Passivo Total
Total
Liabilites
(19.38)
7,650(19.38)
7,650
(103 USD)
USD
332,755
253,556
31.24
13.02
11,772 13.02
13,304 11,772
13,304
Servios
Comrcio
Comrcio
6,167
6,167
C15,577Assets
A
22,331 Current
43.36
22,331
15,577
43.36
0.00
2.94
2.94
Indstria
Servios
Servios
(0.35)
-
Activo
A
Corrente
o Co n
5,631
5,631
3.54
360,801
360,789
4.10
4.10 14,138
14,138 13,734
13,734
- Electricidade
de de
Moambique,
E.P.E.P.
7 7 EDM
EDM
- Electricidade
Moambique,
Group,
LdaLda
54 54 Premier
Premier
Group,
1,366
1,366
6.29 360,767
360,767 354,078
354,078
6.29
Resultados
R u doAntes
An
dos
do9,529
Impostos
mpo
o
32.78
9,529
32.78
IncomemBefore
B Taxes
(103 USD)
USD
4 4
54 54
de de
Cahora
Bassa,
SARL
6 6 Hidroelctrica
Hidroelctrica
Cahora
Bassa,
SARL
6 6
do do
Norte,
SA SA
56 56 n.an.a Portos
Portos
Norte,
(20,168) (25,942)
(25,942) (22.26)
(22.26)
(20,168)
Resultados
R u doLquidos
qu do
Net
N Profits
P 30.41
6,347
6,347
30.41
(103 USD)
USD
8,277
8,277
973
29.19
24.70
166166 24.70
203,273
199,580
1.85
6.58
3.99
9.75
7.08
47.22 115.19
1.34
1.69 5,324
4,506
18.15
(14.57) 72.93
0.88 466466 413413 12.83
2.88
(21,896) (10,874)
(10,874) 101.36
101.36 3.64
3.64(19.25)
(19.25) 2.88
72.93
(483.99) 1.001.00 0.88
12.83
(21,896)
(14.57)
(483.99)
42.84
3.34
44.16 17.09
17.09
44.16
18,140
769769
3,760
382.43
665665 15.65
15.65
114
0.88
44.12
136136 44.12
1,774 1,412.83
25.59
153.36(12.94)
(12.94)
134134 153.36
2,854
12,332
12,332
6,545
(56.39)
2132135,694.37
5,694.37
86
65 65
82
4.88
(13.33)
75 75(13.33)
2,402 2,091.74
14.81
254.10 21.80
21.80
309309 254.10
17,797
-
150
- 334334
150
0.00
34.68
248248 34.68
1,334 1,427.91
(6.55)
68.94 2.24
2.24
70 70 68.94
17,021
2,470
2,470
22,330
(23.78)
6,284
6,284 (60.70)
(60.70)
167,855
150,184
11.77
0.58
2.79
0.71 3.24
3.44
16.20
0.86
0.88
735
3.96 58.12
9.05 85 85
6.53 3.96
5.47 9.05
3,418 2,726
2,726 25.41
25.41 33.08
33.08 23.73
23.73 6.53
58.12 48.99
48.99 5.47
3,418
711
3.38
37.10
62 62 37.10
245
235.23
4.13
58.78
250250 157157
.49.49 58.78
7,007
0 0
7,994
(12.35)
0 0 #DIV/0!
#DIV/0!
116,451
101,752
14.45
27.36
29.59
1.73
2.01 24.83 28.27
0.84
1.22 2,121
1,906
11.28
(6.64)(29.41)
0.93 102102 129129(20.93)
(1.35)(6.64)
0.83 0.93
17,147 13,414
13,414 27.83
27.83 (1.67)
(1.67)(10.12)
(10.12) (1.35)
(29.41)(62.13)
(62.13) 0.83
(20.93)
17,147
198,752
192,317
3.35
(1.89)
2.07
(2.74) 3.25 (4.78)
5.15
1.36
(4.33)(10.20)
(1.13)(4.33)
22,917 20,447
20,447 12.08
12.08(16.43)
(16.43)(116.29)
(116.29) (1.13)
(10.20)(57.04)
(57.04)
22,917
-
1.69
-
44
52 52
75,448
100,423
(24.87)
2,156
1,208 78.51
2,156
1,208
78.51
10,493
-
69.61
-

Indstria
Indstria
173,564
154,836
12.09
17,876
15,499
17,876
15,499 15.33
15.33
47,494
45,812
3.67
(298)
(298) (1,568)
(1,568) (80.98)
(80.98)
56,166
(1,518)
(1,518)
4.26
2,743,500 2,273,597
20.67 1,154,322
947,449
53,869
194194(882.47)
22,072
(882.47)
22,072 23,598
23,598 (6.47)
(6.47) 17,007
17,007 18,774
18,774
21.83
(9.41)
(9.41)
2,536,157 2,100,056 20.77

1,370,442
773,953
20,476 20,082
2.22
21,740 2.22
22,223 21,740
20,082
22,223
20,476
77.07
207,343
175,238
1,876
1.961.96
152152
1,876
18.32
(91.92)
(91.92)
86
85.81
0.46
132.47 16.83
16.83
155155 132.47
23,347
538538
20,939
11.50
1,414
1,414 (61.95)
(61.95)
20 20
70 70
19 19 Standard Bank, SARL

Service,
LdaLda
73 73 Tecnel
Tecnel
Service,

Servios
Servios
153,301
153,240
0.04
17,500
17,500
13,659
13,659 28.12
28.12
41,673
44,050
(5.40)
209209
431431 (51.39)
(51.39)
59,007
406406
(5.25)
1,471,231 1,415,703
3.92 1,012,871 1,049,652
62,280
1,020
1,020 (60.24)
(60.24)
10,174
10,174
5,363
5,363 89.72
89.72
9,424
9,424 4,947
4,947
(3.50)
90.50
90.50
1,244,870 1,209,232
2.95
1,199,339 1,176,511
1.94
226,361
208,490
6,327 1,365
363.60
1,365363.60
6,327
6,327
1,365
6,327
1,365 363.60
363.60
3,847
3,847
4,037
4,037
8.57
(4.70)
(4.70)
83,354
79,453
4.91
27.18
28.75
2.83
3.11 19.17
21.96
0.84
0.89 1,041
8.03 5.31
3.63 59 59
2.06 8.03
16,845
16,845 12,510
12,510 34.65
34.65 1.201.20 3.153.15 2.06
5.31 11.56
11.56 1.491.49 3.63
969
7.43
59 59 0.00
0.00
153
158.31
(3.64)
297297 231.50
231.50 28.12
28.12
23,757
695695
16,952
40.14
845845 (17.78)
(17.78)
21 21
71 71
SA
20 20 Cimentos
m de Moambique,
M m
CarCar
Rental,
LdaLda
66 66 Moambique
Moambique
Rental,
Indstria
Servios
Servios
150,663
143,480
17,056
17,056
16,488
16,488
13,528
12,538
7.89
3,152
3,152
1,912
1,912 64.79
64.79
22,772
4,916
4,916
30.47
17,454
2,863
2,863 71.69
71.69
84,582
10,483
10,483
11.13
0.65
0.65
117,228
110,762
5.84
8.98
8.74
5.14 5.86 15.15
15.21
0.86
0.89
438
0.60 43 43
14.13 8.118.11 29.97
0.87 0.60
12,568
12,568 13,085
13,085 (3.95)
(3.95) 18.48
18.48 11.60
11.60 14.13
29.97 19.13
19.13 0.87
405
8.15
42 42 2.38
2.38
357
351.24
1.77
401401 392.58
392.58 2.23
2.23
545
0 0
19,505
(97.21)
2,293
2,293 (100.00)
(100.00)
22 22
72 72
de Seguros, SA
31 31 Emose
m - Empresa
m Moambicana
M m
Auditores
e Consultores,
SA SA
67 67 KPMG
KPMG
Auditores
e Consultores,

Servios
Servios
145,102
16,830
16,830
69,111 109.96
15,573
15,573 8.07
8.07
4,982
(76)(76)
2,550
95.32
366366(120.69)
(120.69)
6,486
184184
(21.41)
8,254
590590 (68.80)
(68.80)
23 23
73 73
SA
21 21 Coca-Cola Sabco (Moambique),
M m
LdaLda
71 71 Tropigalia,
Tropigalia,
Indstria
Comrcio
Comrcio
144,453
16,735
16,735
137,991
4.68
14,042
14,042 19.18
19.18
17,794
247247
17,234
3.25
111111 122.21
122.21
21,742
464464
(1.06)
21,974
349349 33.16
33.16
24 24
74 74
SA
23 23 Cornelder de Moambique,
M m
Moambique,
LdaLda
76 76 DHL
DHL
Moambique,
m
m
Transportes
e Armazenagem
Transportes
e Armazenagem
139,485
16,719
16,719
115,726
20.53
12,820
12,820 30.42
30.42
44,045
29,880
47.40
934934
(382)
(382)(344.43)
(344.43)
47,776
934934
11.93
42,682
(382)
(382)(344.43)
(344.43)
110,006
10,771
10,771
25 25
75 75
22 22 C.M.C.
M Africa Austral, Lda
- Empreendimentos
Tursticos,
LdaLda
65 65 Turvisa
Turvisa
- Empreendimentos
Tursticos,
Construo
Alojamento,
Restaurao
e Similares
Alojamento,
Restaurao
e Similares
121,479
129,584
(6.25)
16,651
16,651
16,968
16,968 (1.86)
(1.86)
(1,939)
551551
940 (306.20)
946946 (41.77)
(41.77)
(543)
962962
68.17
(323)
931931 3.31
3.31
722,418
43,472
43,472
26 26
76 76
25 25 Manica
M Freight Services (Mo),
M SA
45 45 Empresa
Municipal
de Transportes
Pblicos
de de
Maputo,
E.P.E.P.
Empresa
Municipal
de Transportes
Pblicos
Maputo,
m
m
Transportes
e Armazenagem
Transportes
e Armazenagem
113,467
100,454
12.95
16,407
16,407
33,712
33,712 (51.33)
(51.33)
341
(5,823)
(5,823)
(274) (224.38)
3,474
3,474(267
(267
.62).62)
1,097
(5,888)
(5,888)
867.12
113
6,832
6,832(186.18)
(186.18)
52,176
25,044
25,044
27 27
77 77
de Moambique,
SA
24 24 Telecomunicaes
m
M m
69 69 Mozre
- Moambique
Resseguros,
SA SA
Mozre
- Moambique
Resseguros,
m
Comunicaes
Actividades
Financeiras
e de
Seguros
Actividades
Financeiras
e de
Seguros
105,007
16,069
16,069
1,739
848848
2,698
(35.57)
210210 303.81
303.81
3,915
1,162
1,162
59.88
2,449
352352 229.86
229.86
28 28
78 78
26 26 Petromoc
me Sasol, SA
68 68 Hoteis
Polana,
SA SA
Hoteis
Polana,
m
Comrcio
Alojamento,
Restaurao
e Similares
Alojamento,
Restaurao
e Similares
101,183
15,134
15,134
9.47
2.51
2.51
1,844
974974
2,044
(9.78)
(2,610)
(2,610)(137
(137
.30).30)
2,819
251251
11.83
2,521
(2,681)
(2,681)(109.37)
(109.37)
42,589
38,741
38,741
29,181
45.95
39,560
39,560 (2.07)
(2.07)
35,932
22,789
5,561
5,561 5,500
5,500
29 29
79 79
SA
27 27 Toyota de Moambique,
M m
70 70 SAN
- Sociedade
Algodoeira
do do
Niassa
- JFS,
SARL
SAN
- Sociedade
Algodoeira
Niassa
- JFS,
SARL
m
Comrcio
Agricultura
e Pescas
Agricultura
e Pescas
98,207
14,467
14,467
85,641
14.67
14,274
14,274 1.351.35
4,246
2,611
2,611
2,992
41.90
663663 293.54
293.54
6,582
2,621
2,621
37.95
4,771
663663 294.99
294.99
76,915
9,774
9,774
72,979
9,577
9,577
30 30
80 80
SA
28 28 MPDC
M - Sociedade de Desenvolvimento
m do Porto de Maputo,
M
62 62 Mega
- Distribuio
de de
Moambique,
SA SA
Mega
- Distribuio
Moambique,
m
m
Comrcio
Comrcio
92,429
14,275
14,275
81,759
13.05
22,393
22,393 (36.25)
(36.25)
21,384
20,944
2.10
(249
(249 3,561
3,561(107
(107
.00).00)
30,826
(249)
(249)
22.81
25,100
3,561
3,561(107
(107
.00).00)
87,604
15,435
15,435
71,615
22.33
14,991
14,991 2.96
2.96
47,743
42,864
12,280
12,280 13,280
13,280
31 31
81 81
32 32 Global Alliance Seguros, SA

81 81 Banco
Procredit,
SA SA
Banco
Procredit,

Actividades
Actividades
Financeiras
Financeiras
e de
e de
Seguros
Seguros
82,588
14,038
14,038
63,778
29.49
15,430
15,430 (9.02)
(9.02)
4,102
2,808
46.09
(514
(514 (2,932)
(2,932) (82.48)
(82.48)
6,066
(616)
(616)
45.71
4,163
(4,271)
(4,271) (85.57)
(85.57)
55,758
49,223
49,223
35,612
56.57
49,808
49,808 (1.17)
(1.17)
48,168
28,666
34,924
34,924 36,660
36,660
Comrcio
m
Transportes
Transportes
e Armazenagem
e Armazenagem
81,102
13,231
13,231
101,508 (20.10)
7,861
7,861 68.32
68.32
113
5,544
5,544
113
7,753
7,753
4.53
108
3,953
3,953 96.15
96.15
1,310
17,691
17,691
947
38.39
10,295
10,295 71.85
71.85
40.94
24.99
24.99
m e de Investimentos
m (BCI), SA
19 19 18 18 Banco Comercial
Moambique,
SA SA
69 69 n.an.a Ferpinta
Ferpinta
Moambique,
M Lda
32 32 n.an.a Globe Musica,
CarCar
Terminal,
LdaLda
82 82 98 98 Maputo
Maputo
Terminal,
5.01
3.44
3.44
114,758
(8.50)
14,598
14,598 10.08
10.08
92,432
14,764
14,764
108
4.53
2,777
2,777 99.62
99.62
33 33
83 83
SA
29 29 Seguradora Internacional de Moambique
M m (SIM),M
72 72 Transportes
Carlos
Mesquita,
LdaLda
Transportes
Carlos
Mesquita,

Transportes
Transportes
e Armazenagem
e Armazenagem
79,171
12,890
12,890
70,351
12.54
13,701
13,701 (5.93)
(5.93)
13,340
13,886
(3.93)
167167
131131 27.56
27.56
17,987
142142
(4.91)
18,916
281281 (49.52)
(49.52)
34 34
84 84
Moambicana
de Hidrocarbonetos, SA
30 30 Companhia
m
M m
77 77 Somotor,
SARL
Somotor,
SARL
Indstria
Comrcio
Comrcio
74,807
12,846
12,846
69,726
12,681
12,681
29,403
28,681
921921
895895
2.52
2.90
2.90
43,671
1,341
1,341
41,890
1,260
1,260
7.29
1.301.30
263,235
213,801
23.12
127,715
22,305
22,305 23,568
23,568 (5.36)
(5.36)
5,502
5,502
97,009
3,182
3,182
31.65
72.91
72.91
169,237
130,038
30.14
(29.48)
13,187(29.48)
9,299 13,187
9,299
257,095
183,105
40.41
7,318
7,318
6,570
6,570 11.39
11.39
60,902
6,764
6,764
37,458
6,126
6,126
62.59
10.41
10.41
187,045
122,571 52.60
16.02
5,144 16.02
5,968
5,968
5,144
122,397
-
34,682
25,992
9,292
9,292 6,004
6,004
33.43
54.77
54.77
51,906
7,093
7,093
36,786
41.10
77.64
3,993 77.64
3,993
85,520
28.63
6,302
6,302 70.93
70.93
67,678
53,933
9,608
9,608
5,746
5,746
25.48
67.22
67.22
34,216
8,167
8,167
34,000
0.64
76.40
4,630 76.40
4,630
89,969
36.04
5,946
5,946
-
763,745
(5.41)
178,969
299,747
(40.29)
39,043
39,043 11.34
11.34 11,689
11,689 8,400
8,400 39.16
39.16
52,690
(0.98)
30,993
30,993 (19.19)
(19.19)
29,674
41,532
(28.55)
3,390
3,390 3,325
3,325
1.961.96
36.38
18.80
18.80
93,998
10,551
10,551
27,679
21,035
5,800 4,846
5,800
4,846
31.59
19.68
19.68
70,050
1,350
1,350
61,126
1,440
1,440
14.60
(6.22)
(6.22)
105,851
51,895
103.97
3.43
3.69
1.94
1.39
7.60
4.21
2.20
1.78
325
5.56 (5.42)
(1.03) 5.56
16,646
16,646 14,983
14,983 11.10
11.10 (0.45)
(0.45) 2.35
2.35 (1.03)
(5.42) 27.72
27.72 1.171.17 1.261.26 328328
330
(1.52)
331331 (0.91)
(0.91)
443
206.30 114.76
51 51 47.77
47.77 6.92
6.92
14,042
209209
48,728
33,864
6,661 3,542
6,661
3,542
43.89
88.07
88.07
67,185
2,200
2,200
53,703
1,972
1,972
25.10
11.53
11.53
122,742
114,206
7.47
12.32
12.49
14.54
15,435
15,435 12,972
12,972 18.98
18.98 1.471.47 0.79
0.79
-
19.16 29.44 33.04

0.71
0.77 1,014
- 1.871.87 11.83
11.83 5.57
5.57 1.401.40 1.701.70 192192
914
10.94
153153 25.49
25.49
150
157.34
(4.76)
97 97 97.18
97.18 (0.17)
(0.17)
33,443
557557
18,812
551551
23,024
23,751
(3.06)
6,889 3,438
6,889
3,438 100.40
100.40
75,790
2,605
2,605
52,024
1,688
1,688
45.68
54.28
54.28
91,936
73,815
24.55
31.58
25.82
40.04 34.94 68.92
61.32
2.94
2.27
611
(6.07) 43.53
8.67(6.07)
15,785
15,785 13,202
13,202 19.57
19.57 5.59
5.59 (2.98)
(2.98) 8.67
43.53(18.38)
(18.38) 1.391.39 1.671.67 120120
577
5.89
100100 20.00
20.00
235
214.51
9.47
152152 154.46
154.46 (1.59)
(1.59)
16,409
571571
10,163
61.47
147147 288.35
288.35
(27.60)
34.57
34.57
33,283
11,443
11,443
35,564
11,000
11,000
(6.41)
4.03
4.03
6,975
9.10
7,506
7,506 (74.20)
(74.20)
27,416
41,832
(34.46)
5,569 16,295
5,569
16,295 (65.82)
(65.82)
6,160
15,316
15,316
156,909
216,736
26,162 19,441
26,162
19,441
3.18
(1.60)
0.73
(0.27)
0.12 (5.63)
2.55
1.14
1.38 2,400
2,530
(5.14)
2.42 4.91
0.45 0.43
2.61
2.61 3.31
3.31 5.57
5.57 1.271.27 2.42
4.91 8.56
8.56 0.45
0.43 529529 458458 15.50
15.50
7,610
1,937
1,937
19,878
19,878
69
75.97
(9.37)
846846 768.32
768.32 10.08
10.08
56,070
-
28 28.57
369369 4.07
4.07
3,162 3,361.15
(5.93)
40 40 39.69
39.69 1.281.28
91,311
79,891
14.29
4.32
3.49
5.52
4.10 24.73
21.12
1.01
1.03
401
6.93 55.20
26.71 6.93
2.89 1.281.28 357357
11,847
11,847 13,610
13,610 (12.96)
(12.96) 18.05
18.05 4.65
4.65 26.71
55.20 21.60
21.60 2.89
376
6.65
310310 15.16
15.16
253
240.90
4.93
58.38(25.69)
(25.69)
43 43 58.38
1,315
345345
1,114
18.04
1,620
1,620 (78.71)
(78.71)
83.26
(3.11)
(3.11)
64,747
55,457
16.75
23.14
25.62
24.41 29.25 59.55 136.80
1.23
0.97
517
23.76 (2.18)
(1.62)23.76
2.93 3.81
14,358
14,358 18,437
18,437 (22.12)
(22.12) (1.75)
(1.75) 15.90
15.90 (1.62)
(2.18) 34.43
34.43 2.93
3.81 137137
475
8.84
145145 (5.52)
(5.52)
186
155.58
19.77
155.50(34.89)
(34.89)
101101 155.50
17,343
438438
5,112
239.26
449449 (2.34)
(2.34)
36.88
(7.39)
(7.39)
76,518
59,615
28.35
4.97
4.40
7.36
7.88
31.12
31.10
1.27
1.26
93
(1.04)(5.89)
0.91 0.90
10,932
10,932 13,495
13,495 (18.99)
(18.99) (3.66)
(3.66)(19.00)
(19.00) (1.04)
(5.89) (7.34)
(7.34)(36.33)
(36.33) 0.91
0.90 301301
87
6.90
346346(13.01)
(13.01)
918
773.07
18.70
40.03 8.42
8.42
43 43 40.03
37
0 0
22
40 40
18 22.22
27 27 48.15
48.15
4,055 11,278.66 (64.05)

349.37 13.05
13.05
395395 349.37
23
6,015
6,015
7.17 8.08 26.76 29.77

17.94 44.04
147
0.54 0.58
0.58 233233
1.331.33 0.91
0.91 9.20
9.20 7.707.70 0.54
146
0.68
(9.69)
258258 (9.69)
540
480.21
12.54
53.52 (1.90)
(1.90)
53 53 53.52
0
11,088
11,088
0
6,624
6,624
25,376
22,214
14.23 39.30
41.13
8.44 9.97 19.01 22.00
6.61 10.43
22
10.39 8.64
11,119
11,119 11,372
11,372 (2.22)
(2.22) 7.177.17 7.067.06 10.39
8.64 37.43
37.43 47.67
47.67 1.241.24 1.171.17 103103
20
10.00
0.98
102102 0.98
3,562 3,575.69
(0.38)
130.07 (3.65)
(3.65)
125125 130.07
36,581
326326
17,885
104.54
8 8 3,741.59
3,741.59
27.45
(6.18)
(6.18)
246,182
8,255
8,255
197,918 24.39
(25.84)
11,131(25.84)
11,131
168,692
115,517
8,252 11,112
8,252
11,112
57.67
1.101.10
31,509
34,235
34,235
19,942 58.00
(4.97)
36,026 (4.97)
36,026
30,977
19,047
15,190 10,595
15,190
10,595
62.63
43.37
43.37
11,081
4,507
4,507
9,329
3,569
3,569
18.78
26.28
26.28
4,832
4,253
13.62
1.82
2.21
4.33
7.01 18.07
27.61
1.16
1.20
36
(6.60) 24.11
2.51(6.60)
0.37 0.52
9,766
9,766 10,486
10,486 (6.87)
(6.87) 6.43
6.43 (17.68)
(17.68) 2.51
24.11(73.58)
(73.58) 0.37
0.52 384384
48,628
55,302
(12.07)
5,813
6,016
5,813
6,016 (3.38)
(3.38)
56,325
3,368
3,368
59,367
(5.12)
(43.80)
5,993(43.80)
5,993
48,011
53,915
2,012 4,687
2,012
4,687
(10.95)
(57.07)
(57.07)
20,590
6,201
6,201
13,745
3,259
3,259
49.80
90.24
90.24
11.38
(7.53)
(7.53)
41,140
4,188
4,188
46,506 (11.54)
20.06
3,488 20.06
3,488
38,771
44,027
4,188 3,488
4,188
3,488
(11.94)
20.06
20.06
46,464
11,254
11,254
25,354
11,615
11,615
68.03
(4.74)
(4.74)
40,525
42,497
42,497
24,591 64.79
(0.28)
42,615 (0.28)
42,615
37,989
22,682
38,516 40,766
38,516
40,766
67.49
(5.52)
(5.52)
15,232
6,726
6,726
11,128
7,263
7,263
1,086
9,892
9,892
799 35.93
135.93
4,193135.93
4,193
1,086
2,023
2,023
35.93
(51.75)
(51.75)
224
7,799
7,799
149
6,161
6,161
50.28
26.57
26.57
3,907
163.25
9,446
9,446 (17.23)
(17.23)
52,321
1,942
1,942
47,370
1,686
1,686
10.45
15.20
15.20
62,120
52,816
17.61 16.85
19.74
11,934
11,934 12,593
12,593 (5.23)
(5.23) 1.301.30 0.96
0.96
99.09
165,842
143,440
(26.55
(26.55
2,804
2,804
2,116
2,116
15.62
32.53
32.53
1,249
8,747
8,747
886
6,998
6,998
799
4,193
4,193
185,943
171,786
8.24
184,441
172,050
7.20
12,519
4,200
12,519 14,383
14,383 (12.96)
(12.96)
4,200 5,499
5,499 (23.61)
(23.61)
133,623
124,875
7.01
(16.81)
12,713(16.81)
10,577 12,713
10,577
10,284
7,818
7,818
4.25
6.41
6.41
348,315
8,862
8,862
182,472
145,504 25.41
(26.70)
8,264(26.70)
6,058
6,058
8,264
20,015
10,053
6,055 8,244
6,055
8,244
287,555
21.13
132,372
104,886
26.21
10,359
7,488
10,359 (14.46)
(14.46)
7,488 9,609
9,609 (22.07)
(22.07)
46.03
173,546
174,003
(25.74)
(25.74)
2,092
2,092
1,306
1,306
77.77
0.97
0.97
53.90
(8.57)
40.84
40.84 (17.38)
(17.38)
47,525
(3.18)
(67.26)
29,713(67.26)
29,713
(0.26)
60.23
60.23
24,493
23,808
2.88
0.30
(0.27)
0.65 (0.52)
6.00
(7.65)
1.08
0.99
476
329 44.68
11.21(70.13)
(23.25)11.21
0.61 0.20
22,295
22,295 26,881
26,881 (17.06)
(17.06)(35.49)
(35.49) 10.30
10.30(23.25)
(70.13)
(755.48)
(755.48) 0.61
0.20 1,443
1,443 1,455
1,455 (0.82)
(0.82)
116,442
108,559
14,907
14,907 14,246
14,246
7.26
1.66
2.35
0.41 0.73
1.00
1.49
0.89
1.02 1,524
1,526
(0.13)
8.20 1.691.69 49.92
4.64
4.64 5.28
5.28 1.441.44 8.20
49.92 16.13
16.13 1.161.16 0.91
0.91 19 19
19 19 0.00
0.00
(81,023) (101,749) (20.37)

0.14
0.11
8.60 11.38 60.29 144.34
1.15
1.11
31.3426.98
4.32 1.671.67
5,237
5,237 3,470
3,470 50.94
50.94 41.90
41.90 35.33
35.33 31.34
26.98 79.43
79.43 67.71
67.71 4.32
49
34 34
3,967
253.94
110110 89.40
89.40
282
252.40
11.69
11 11 25.77
25.77(56.07)
(56.07)
5,216
18.11
1,292
1,292 1,085.51
1,085.51
134,448
130,307
13,680
13,680 13,333
13,333
46,015
9,728
9,728
419,728
370,236
13.37
150,178
117,829
10,348
10,348 12,424
12,424 (16.72)
(16.72)
9,538
9,538 10,166
10,166
5.39
2.06
2.06
689,135
728,525 (5.41)
13.78
28,149 13.78
32,029 28,149
32,029
148,168
108,640
6,310 5,311
6,310
5,311
28,809
-
94.63
-
58
(36.39)
0 0
-
2
871.59
26 2623,257
23,257
.43.43
67.40
67.40
Construo
Transportes
Transportes
e Armazenagem
e Armazenagem
66,744
12,628
12,628
52,962
26.02
10,992
10,992 14.88
14.88
3,346
4,381
4,381
1,110
201.40
4,119
4,119 6.36
6.36
4,749
6,451
6,451
299.12
1,190
6,156
6,156 4.79
4.79
102,819
15,195
15,195
76,867
33.76
11,090
11,090 37.02
37.02
85,866
59,360
11,318
11,318 8,214
8,214
44.65
37.78
37.78
92,900
1,417
1,417
68,443 35.73
(15.99)
1,687(15.99)
1,687
88,734
63,698
39.30
1,417 1,687
1,417
1,687 (15.99)
(15.99)
9,919
13,778
13,778
8,507
9,495
9,495
16.59
45.11
45.11
(61,995)
(51,772)
19.75
5.01
2.10
3.25
1.44 36.32
26.10
0.97
0.93 2,188
2,700 (18.96)
28.8337.14
4.87 189189 185185 2.162.16
7,014
7,014 5,520
5,520 27.07
27.07 34.70
34.70 37.48
37.48 28.83
37.14 37.65
37.65 46.20
46.20 7.997.99 4.87
39.23 (30.39)
59.58 13.34
13.34
59.58
3,305
1,494
1,494
3,266
853853
36 36
86 86
Lda
37 37 Teixeira Duarte Engenharia e Construes Moambique,
M m
74 74 Socremo
- Banco
de de
Microfinanas,
SA SA
Socremo
- Banco
Microfinanas,
Construo
Actividades
Actividades
Financeiras
Financeiras
e de
e de
Seguros
Seguros
64,934
12,458
12,458
44,530
45.82
13,211
13,211 (5.70)
(5.70)
4,526
1,637
1,637
5,655
(19.96)
1,195
1,195 36.94
36.94
7,657
2,347
2,347
(13.25)
8,826
1,846
1,846 27.17
27.17
85,408
34,920
34,920
89,454
(4.52)
32,304
32,304 8.10
8.10
67,985
79,426
(14.40)
23,674
23,674 23,916
23,916 (1.01)
(1.01)
55,345
25,493
25,493
63,911 (13.40)
24,511 4.014.01
24,511
55,345
63,876
(13.36)
24,534 23,553
24,534
23,553
4.174.17
30,063
9,427
9,427
25,793
7,869
7,869
16.56
19.81
19.81
572,968
38,022 1,406.95
6.97
12.70
5.30 6.32 16.21 23.47
1.23
1.24
387
4.69 3.70
0.96 1.021.02 339339
7,203
7,203 7,528
7,528 (4.33)
(4.33) 13.14
13.14 9.05
9.05 4.69
3.70 18.93
18.93 15.67
15.67 0.96
342
13.16
3.35
328328 3.35
178
133.93
33.02
40.97 (8.81)
(8.81)
37 37 40.97
3,470
1,564
1,564
6,393
(45.72)
560560 179.15
179.15
37 37
87 87
35 35 Transportes Lalgy, Lda

83 83 Medis
Farmaceutica,
LdaLda
Medis
Farmaceutica,
m
m
Comrcio
Comrcio
58,695
12,104
12,104
54,614
7.47
10,990
10,990 10.14
10.14
550
220220
526
4.61
254254 (13.35)
(13.35)
773
469469
3.37
748
424424 10.76
10.76
44,927
8,339
8,339
40,059
12.15
7,196
7,196 15.89
15.89
19,241
16,585
6,838
6,838 6,290
6,290
38,565
7,022
7,022
34,245
12.61
15.15
6,098 15.15
6,098
31,190
28,592
7,022 5,764
7,022
5,764
9.09
21.82
21.82
6,363
1,318
1,318
5,870
1,109
1,109
8.39
18.83
18.83
52,486
41,865
25.37
0.94
0.96
1.22
1.31
8.99
8.94
0.62
0.58
642
2.64 3.53
0.97 1.091.09 82 82
10,528
10,528 10,125
10,125 3.99
3.99 1.821.82 2.31
2.31 2.64
3.53 18.12
18.12 24.63
24.63 0.97
850 (24.47)
13.89
72 72 13.89
79
72.92
7.91
157157 157157
.00.00 0.130.13
3,458
603603
6,051
(42.85)
362362 66.81
66.81
38 38
88 88
34 34 Construa, Lda
79 79 Dataserv,
LdaLda
Dataserv,
Comrcio
m
Comrcio
Comrcio
4,718
(75.36)
3,163
3,163 38.87
38.87
35 35 n.an.a CETA - Engenharia e Construes, SA

Cargo
Terminal,
SARL
85 85 82 82 Matola
Matola
Cargo
Terminal,
SARL
16.02
8.71
8.71
58,059
11,659
11,659
54,654
6.23
11,866
11,866 (1.74)
(1.74)
2,563
496496
3,871
(33.79)
365365 35.82
35.82
4,215
749749
(28.86)
5,925
541541 38.36
38.36
38,282
5,852
5,852
36,524
4.81
4,582
4,582 27.72
27.72
20,202
19,367
5,182
5,182 3,936
3,936
4.31
31.65
31.65
5,053
4,412
4,412
5,854 (13.68)
37.73
3,203 37.73
3,203
m
SARL
Comrcio
m de Moambique,
M m
39 39 33 33 Entreposto Comercial
Contact
Center
Moambique
(ex.Select
Vedior
Moambique)
89 89 102102 ES ES
Contact
Center
Moambique
(ex.Select
Vedior
Moambique) Servios
Servios
50,063
10,505
10,505
54,984
(8.95)
7,328 43.36
43.36
7,328
1,461
331331
1,945
(24.92)
495495 (33.17)
(33.17)
1,989
554554
(35.82)
3,099
766766 (27.65)
(27.65)
95,343
1,903
1,903
93,199
2.30
1,634
1,634 16.44
16.44
44,254
45,704
1,742
1,742 1,580
1,580
(3.17)
10.31
10.31
66,969
1,101
1,101
65,035
2.97
11.40
988988 11.40
53,321
50,767
975975
761761
40 40 38 38 G4S Secure Solutions, Lda

Investment
Group,
LdaLda
90 90 n.an.a Malala
Malala
Investment
Group,
Servios
Comrcio
Comrcio
46,911
10,462
10,462
44,370
5.73
3,577 192.48
192.48
3,577
2,769
14 14
2,529
9.51
12 12 14.34
14.34
4,395
14 14
(9.28)
4,844
12 12 14.34
14.34
33,396
549549
29,930
11.58
190190 188.19
188.19
28,186
10,902
158.54
493493
184184 168.14
168.14
26,511
554554
25,881
2.44
164.13
210210164.13
24,527
554554
(5,602)
(6,509)
(13.93)
17 17
17 17 (0.73)
(0.73)
17,543
17 17
64.13
10,688
17 17 (0.73)
(0.73)
432,194
391,230
10.47
11,964
11,964 12,060
12,060 (0.79)
(0.79)
41 41
91 91
E.P.
43 43 Aeroportos de Moambique,
M m
90 90 Topack
Moambique,
SARL
Topack
Moambique,
SARL
m
m
Indstria
Indstria
45,002
10,133
10,133
37,021
21.56
9,132
9,132 10.96
10.96
42 42
92 92
42 42 Gespetro, SARL
91 91 MAHS
- Mozambique
Airport
Handling
Services,
LdaLda
MAHS
- Mozambique
Airport
Handling
Services,
m
Comrcio
Transportes
Transportes
e Armazenagem
e Armazenagem
43,781
9,923
9,923
40,498
8.11
8,227
8,227 20.61
20.61
306
804804
311
(1.40)
576576 39.56
39.56
471
1,820
1,820
(6.11)
502
891891 104.40
104.40
6,732
6,543
6,543
6,586
2.22
8,163
8,163 (19.85)
(19.85)
43 43
93 93
40 40 Servitrade Servios Investimentos

m e Trading, Lda
84 84 Teledata
de de
Moambique,
LdaLda
Teledata
Moambique,
Construo
Comunicaes
Comunicaes
42,613
9,607
9,607
40,866
4.28
10,611
10,611 (9.46)
(9.46)
322322
1,073
1,073 (70.03)
(70.03)
471471
1,475
1,475 (68.05)
(68.05)
89,556
8,698
8,698
36,557
7,941
7,941
34,623
5.59
6,015
6,015 32.02
32.02
59,264
11.72
(8.28)
3,422 (8.28)
3,422
7,121
5,975
5,975
2,526 181.88
5,682 5.165.16
5,682
(2,907) (142.18)
(403)
(403)(119.96)
(119.96)
494,827
290,118
70.56
262,331
180,601
31,979
31,979 33,034
33,034 (3.20)
(3.20)
5,629
5,629 5,916
5,916
45.25
(4.85)
(4.85)
449,707
245,960 82.84
(16.94)
15,747(16.94)
13,079 15,747
13,079
410,683
244,830
6,360 4,578
6,360
4,578
67.74
38.92
38.92
45,120
18,899
18,899
44,590
17,457
17,457
(22.26)
(20,168)
(25,942)
1,160
1,160
800800 44.93
44.93
573,371
539,453
6.29
360,767
354,078
4,871
4,871
3,818
3,818 27.58
27.58
4,125
4,125 3,162
3,162
1.89
30.45
30.45
516,906
454,740
13.67
33.78
1,376 33.78
1,841
1,841
1,376
421,964
376,363
1,165
1,165 1,216
1,216
12.12
(4.22)
(4.22)
56,464
3,031
3,031
6,116
0.83
1,551
1,551 216.72
216.72
18,189
1,855
1,855
6,347
30.41
461461 61.99
61.99
12,653
629629
32.78
9,529
698698 (9.92)
(9.92)
24,356
6,769
6,769
17,016
43.14
5,671
5,671 19.36
19.36
(6,016)
(4,203)
43.15
1,991
1,991
2,151
2,151 (7.44)
(7.44)
(4,261)
3,263
3,263
(17.01)
(5,134)
3,187
3,187 2.37
2.37
39,901
15,439
15,439
35,014
13.96
14,857
14,857 3.92
3.92
8,871
8,871
495
881881
0.15
494
(753)
(753)(216.96)
(216.96)
18,421
2,213
2,213
336
634634
329
2.16
(794)
(794)(179.91)
(179.91)
51 51
Lda
36 36 CMAMCGM Mozambique,
MM m
m
m
35,461
49,627
(28.54)
1,046
2,198
(52.42)
1,805
52 52
de Seguros , SARL
49 49 Hollard Moambique
M m Companhia
m
3,379
(46.57)
159
149.44
6.53
33 33 30.58
30.58 7.437.43
510
-
1.13
1.89
700
3.7012.57
0.90 0.85
1.101.10 3.35
12.57 14.01
14.01 54.11
54.11 0.90
0.85 88 88
3.35 10.11
10.11 3.70
n.d
90 90 (2.22)
(2.22)
108108 119.23
119.23 (9.46)
(9.46)
18,528
1,459
1,459
12,820
26,791
(52.15) 49.00
25.69
18.99 14.13 66.96 65.07
0.45
0.32
283
3.73 1.461.46 7.167.16 5.81
2.06 1.921.92 84 84
2,381
5.81 2.06
2,381 2,104
2,104 13.16
13.16 2.70
2.70 0.94
0.94 3.73
66,209
3,139
3,139
41.04
7.987.98
22,331
15,577
6,157
6,157 4,968
4,968
5,631
5,975
5,975
9,071
9,071
8,973
8,973
51,825
1,219
1,219
-
7,531
(84.82)
417417 (79.33)
(79.33)
11,083
-
(52.05)
-
64,815
(20.04)
609609 100.13
100.13
280
-
1,564
1,564
(6.76)
(6.76)
149
184.86 (19.18)
117117 278.03
278.03 (57.74)
(57.74)
21,421
0 0
56
14.29
64 64 (1.56)
(1.56)
675
729.18
(7.40)
143143 244.20
244.20 (41.32)
(41.32)
5,349
7 7
1.19
8.26
8.26
35,165
21,625
62.62
1.86 (11.23)
0.15 (0.82)
1.66
(5.92)
0.64
0.74
437
0.02(0.95)
0.89 1.291.29 342342
1,185
968968 22.46
22.46 0.06
0.06 (3.49)
(3.49) 0.02
(0.95) 0.03
0.03 (1.80)
(1.80) 0.89
1,185
325 34.46
334334 2.40
2.40
105
27 27
90.80
15.72
27.96
27.96 (4.82)
(4.82)
13,912
0 0
8,999
0 0
85,541
(33.99)
2,466
2,466 22.89
22.89
(54,673)
(54,921)
(0.45) (50.52) (56.57)
(3.52) (4.81) (28.40) (34.48)
0.85
0.94
865
16.2014.26
3.54 2.60
7,487
21.19 9.149.14 7.707.70 16.20
14.26 28.70
28.70 23.64
23.64 3.54
2.60 95 95
7,487 6,178
6,178 21.19
878
(1.48)
76 76 25.00
25.00
46
52.74 (13.14)
101101 105.57
105.57 (4.40)
(4.40)
227227
193193
17.34
17.34
23
0 0
15 53.33
113113
(100.00)
(100.00)
2,059 2,771.20 (25.69)

151151 69.46
69.46 117.72
117.72
650
0 0
623
0 0
4.34
-
48 828.26 (15.77) (10.55) (15.08) (12.00)

27.20 23.41
720
12.89 14.414.4 33.69
7,067
7,067 (11.39)
(11.39) 24.92
24.92 23.10
23.10 12.89
33.69 53.02
53.02 1.041.04 0.86
0.86 136136
690
4.35
148148 (8.11)
(8.11)
36,010
34,116
5.55
0.92
0.95
1.83 2.41 12.57
13.32
1.10
1.11
112
28.65
3.78 1.641.64 74 74
7,252
7,252 4,436
4,436 63.49
63.49 7.997.99(13.19)
(13.19) 28.65
(49.81)
(49.81)104.17
104.17
(219.80)
(219.80) 3.78
103
8.74
68 68 8.82
8.82
6,167
4,913
4,913
7,650 (19.38)
20.33
4,083 20.33
4,083
6,167
4,913
4,913
8,592
8,592
3.24
3.24
64,931
8,559
8,559
54,036
20.16
(14.11)
9,966(14.11)
9,966
34,188
8,559
8,559
13,660
34.86
1,593
1,593 38.91
38.91
17,089
12,430
1,750
1,750 1,120
1,120
37.48
56.21
56.21
15,588
956956
11,163 39.64
(40.01)
1,593(40.01)
1,593
15,588
11,163
39.64
462462
684684 (32.38)
(32.38)
2,833
1,257
1,257
2,521
12.36
(40)(40)(3,252.61)
(3,252.61)
14,562
13,989
4.10
14,138
13,734
2.94
13,304
11,772
13.02
13,304
9,458
1,603
1,603
92.31
15.74
15.74
99.87
(25,030)
(19,208)
(14.11)
6,879
4,939
4,939
(14.11)
6,879
30.31
39.29
39.29
26,524
21,879
21.23
21.16
19.92
33.98 37.30 59.88 107.28
3.62
2.55
11.04 8.148.14 43.22
7,916
7,916 6,366
6,366 24.35
24.35 8.75
8.75 6.42
6.42 11.04
43.22 30.41
30.41 1.251.25 3.20
3.20
446
6,262
6,262
11,772
13.02
1,258
2,239
(43.81)
4,408
3,908
12.80
2.95
4.43
7.18
15.71
59.81
120.04
1.06
1.17
3.31
68
63
54
56 56
59.80
(9.50)
68.71
68.71 (18.11)
(18.11)
4,150
470470
340
305.05
11.48
112112 101.95
101.95 9.71
9.71
0
-
7.94
541
787.73
10.91
610
595.87
(31.27)
0 0
81.84
-
270
4.81
76 76 10.53
10.53
0
-
238
(58.80)
28,602
23.63
3,151
3,570
(11.74)
4,580
4,976
(7.96)
64,312
43,269
48.63
63,638
42,964
48.12
51,750
33,862
52.82
19,646
12,983
51.32
12,562
9,499
32.25
14,363
13,033
10.21
8.91
12.48
4.90
8.25
28.57
45.97
3.24
35,325
27,427
28.79
634
661
(4.00)
1,383
1,065
29.87
36,697
35,627
3.00
31,691
32,249
(1.73)
34,111
33,363
2.24
30,686
29,098
5.46
2,586
2,286
13.12
31,141
24,662
26.27
1.80
2.41
1.73
1.85
26.04
28.57
1.03
1.11
407
330
23.33
96
83.62
14.64
2,038
1,597
54 54
54 54 Premier
mGroup, Lda
m
Comrcio
35,199
24,547
43.39
286
121
136.91
422
275
53.21
30,977
25,602
20.99
14,764
11,389
29.63
29,848
25,151
18.68
29,848
25,151
18.68
2,931
456
543.36
31,985
24,272
31.78
0.81
0.49
0.92
0.47
16.86
29.05
0.49
0.45
603
566
6.54
60
57.89
4.02
599
12,813
98
35,360
2.31
54.58
-
Servios
55
7,225
(42.56)
265265 77.42
77.42
51 51 Televisa - Sociedade Tcnica de Obras

O e Projectos, Lda
61
886
503.98
72 72 (89.73)
(89.73)
53 53
1.21
75.24
75.24
64
63 63
43.36
23.93
23.93
17,105
9,966
9,966
50.03
13.72
60.68
60.68 3.08
3.08
271
2.95
281281 14.95
14.95
40,345
31,222
29.22
1.55
1.40
6.04 8.99 21.60
18.87
0.24
0.45
5.00 6.72
6,895
6.72 13.98
13.98 20.11
20.11 1.571.57 1.531.53
6,895 11,444
11,444 (39.75)
(39.75) 5.30
5.30 4.60
4.60 5.00
67.93
(1.52)
(1.52)
968
8,678
8,678
1,366
9,370
9,370
57
63 63
40,610
37,802
7.43
0.70
0.77
4.55 4.72 21.94 22.52
1.12
1.21
279
12.29 7.067.06 19.73
0.69 1.011.01 323323
8,103
19.73 14.89
14.89 0.69
8,103 7,004
7,004 15.69
15.69 8.118.11 7.007.00 12.29
28.44
13.97
13.97
1,226
80 80
m
Comrcio
Servios
Servios
4.62
6.07
6.07
101.16
6.41
6.41
744
(2,387) (131.17)
5 5
(312
(312 (101.63)
(101.63)
Moambique,
Lda
M m
50 50 44 44 Unicomom
Moambique,
LdaLda
100100 111111 Cowi
Cowi
Moambique,
1,365
3,955
3,955
2,540
3,223
3,223
57 57 Moza
M Banco, SA
92 92 Salvor
Hoteis
Moambique,
SARL
Salvor
Hoteis
Moambique,
SARL
39,827
(4.20)
9,310
9,310 (14.18)
(14.18)
1,428
4,195
4,195
20,074
3,432
3,432
46 46
96 96
38,152
7,990
7,990
3,771
8.96
4,211
4,211 (48.86)
(48.86)
3.44
1.52
60.63
60.63150.09
150.09
776
3.87
156156 7.697.69
3,263
3,673
3,673
4,109
2,154
2,154
3
152152
44,782
41,619
7.60 (12.45) (17.58)
(1.30) (1.66) (19.32) (17.45)
1.55
1.70
806
10,795
4.48 4.48
4.48 1.081.08 1.041.04 168168
10,795 9,115
9,115 18.44
18.44 0.170.17 0.190.19 0.140.14 0.140.14 4.48
40,381
3,652
3,652
5,042
105.94
8,873
8,873 8.73
8.73
Servios
Alojamento,
Alojamento,
Restaurao
Restaurao
e Similares
e Similares
32,145
(19.57)
373373
3.58
3.58
20.41
(8.28)
(8.28)
79,144
34.68
6,821
6,821 (0.44)
(0.44)
10,384
9,648
9,648
SA
46 46 guas da Regio de Maputo,
M
89 89 Avenida
- Empreendimentos
Tursticos
e Hoteleiros,
LdaLda
Avenida
- Empreendimentos
Tursticos
e Hoteleiros,
25,854
386386
2,161
160.64
5,682
5.165.16
5,682
106,590
6,791
6,791
63.69
563
1,179
1,179 (40.81)
(40.81)
49 49
99 99
36.33
(8.88)
(8.88)
56,125
46,611
3,139 3,422
3,139
3,422
75.08
15,693
185185 113.66
113.66
922
698698
8,277
747747
33,842
24,824
10,610 11,644
10,610
11,644
41,485
39,914
3.93
5.90
8.29 8.45 50.47
72.18
1.15
1.55 13,911 12,929
7.60
(115.43
2.58 6.51
0.89 0.88
(10,424)
(127(127
.46).46) 0.89
0.88 20 20 118118(83.05)
(83.05)
(10,424) (3,565)
(3,565) 192.42
192.42 0.140.14 0.35
0.35 2.58
6.51
(115.43
25,415
15,134
6,478
6,478 6,578
6,578
27,475
396396
31,869
22.77
7,189
7,189 18.85
18.85
68.38
(73.74)
(73.74)
(10.78)
(10.78)
453
38.23
596596 (19.13)
(19.13)
39,126
8,545
8,545
4,089
(19)(19)
2,426
2,426
11,184
80.99
100100 154.35
154.35
Servios
Servios
Servios
6,885
(5) (5)
2,164
2,164
627
482482
Lda
M m
48 48 48 48 Grindrod Mozambique,
- Consultores
Associados,
LdaLda
98 98 101101 CONSULTEC
CONSULTEC
- Consultores
Associados,
7,039
248.44
210210 164.13
164.13
19.41
11.50
11.50
20,242
254254
45,858 (12.94)
(20,168)
(25,942)
(22.26)
7,073
7,073 22.00
22.00
789789
544544 44.93
44.93
5,314
0 0
27,815
23,294
6,533 5,860
6,533
5,860
32,448
24.86
12,943
12,943 (29.69)
(29.69)
21,247
88.41
8,946
8,946 0.53
0.53
1,143
86 86
150
171.02 (12.49)
9 9 11.71
11.71(24.93)
(24.93)
61,572
(3.12)
6.53
6,133 6.53
6,133
43,535
(5.11)
10,565
10,565 (11.03)
(11.03)
39,924
8,629
8,629
117
125.21
(6.61)
202.83 (8.76)
(8.76)
185185 202.83
330
2.73
772772109.72
109.72
59,651
6,533
6,533
41,311
9,400
9,400
40,032
8,993
8,993
475
9.05
10.00
60 60 10.00
48,130
53,802
(10.54)
2.92
3.54
1.53 2.09
5.14
7.15
0.83
0.90
339
17.4030.31
9,956
2.08 1,619
1,619
9,956 6,898
6,898 44.34
44.34 3.153.15 6.766.76 17.40
30.31 45.55
45.55116.57
116.57 1.791.79 2.08
31,426
43,932
(28.47)
5,866
5,866 4,968
4,968 18.08
18.08
40,514
9,100
9,100

Comrcio
Comrcio
53,844
48,729
10.50
4.41
7.08
6.69 10.60
7.98
12.71
17.38
4.10
518
8.48 7.977.97 35.03
10,920
10,920 11,058
11,058 (1.25)
(1.25) 4.25
4.25 3.08
3.08 8.48
35.03 23.60
23.60 1.181.18 1.241.24 66 66
(0.23)
22.97
22.97
77,489
15.57
8,536
8,536 1.901.90
m
Comrcio
Comrcio
Comrcio
Alojamento,
Alojamento,
Restaurao
Restaurao
e Similares
e Similares
7.30
3.43
3.43
28,439
652652
5,235
1.34
(44.71)
4,246(44.71)
4,246
m
m
Servios
Servios
SA
M m
47 47 50 50 Barclays Bank Moambique,
SA SA
97 97 103103 Intermetal,
Intermetal,
406,340
359,396
13.06
(0.97)
11,691 (0.97)
11,578 11,691
11,578
30,969
1,392
1,392
28,374
802802
5,304
2,347
2,347
Lda
47 47 African Petroleum, m
75 75 Lalgy
Truck
Sales,
LdaLda
Lalgy
Truck
Sales,
4,610
1,497
1,497
24.77
(4.88)
(4.88)
33,229
1,440
1,440
5.03
28.19
28.19
4,561
1.08
4,267
4,267 (64.92)
(64.92)
45 45
95 95
m de Carvo da Matola,
M Lda
44 44 39 39 Terminal
Connexion
Mozambique,
LdaLda
94 94 n.an.a Business
Business
Connexion
Mozambique,
52,606
42,163
11,488
11,488 12,078
12,078
1,162
4,392
4,392
27
68 68
.62
The sixteenth edition / A dcima sexta edio /2773
(95.32)
Anlise Sectorial
Sector Analysis
A Facilidade Permanente de Cedncia (FPC)8 diminuiu de

9.5% no incio de 2013 para 8.5% no final do ano de 2013. No
que concerne a taxa referente a Facilidade Permanente de
Depsito, diminuiu de 2.25% em 31 de Dezembro de 2012
para 1.5% em 31 de Dezembro de 2013. De acordo com o do
Banco de Moambique, as questes das taxas de Bilhetes
doTesouro de 91 dias, 182 dias e 364 dias foram de 5.23%,
6.57% e 7.20%, respectivamente, em 31 de Dezembro de
2013. Este comparado com a taxa de Bilhetes doTesouro
para 91 dias, 181 dias e 364 dias de 2.6%, 3.4% e 3,70%,
respectivamente, em 31 de Dezembro de 2012 (de acordo
com o comunicado de imprensa do Banco de Moambique
No. 001/2013-MPC de 18 de Janeiro de 2013).
Actividades
Financeiras e
de Seguros
Financial Activities
and Insurance
Por/By: Tendai
Mukombiwa,
and Christelle
Mupenda
A economia Moambicana continuou a registar um bom crescimento durante 2013. De acordo com a African
Development Bank Groups AfDB African Economic Outlook (2014), a economia de Moambique registou
um crescimento real do PIB de 7%, que menor relativamente as expectativas esperadas devido as cheias
registadas no primeiro trimestre de 2013. O AfDG projectou igualmente uma taxa de crescimento real do PIB
para 2014 de 8.5%. De acordo com o comunicado do Banco de Moambique No. 002/2014-MPC de 12 de Maro
de 2014, a taxa de inflao mdia anual foi de 4.29% em 31 de Dezembro de 2013.
The Mozambique economy continued on a grow path during 2013. According to the African Development Bank Groups
AfDB African Economic Outlook (2014), the Mozambique economy registered real GDP growth of 7%, which is lower
than expectations due to the effects of floods in the first quarter of 2013. AfDG also projects a real GDP growth rate
for 2014 of 8.5%. According to the Bank of Mozambique Press release Nr. 002/2014-MPC dated 12 March 2014, the
average annual inflation rate was 4.29% at 31 December 2013.
De acordo com o African Development Bank Groups
AfDB African Economic Outlook (2014), o crescimento
econmico tem sido impulsionado pelo aumento do
investimento directo estrangeiro (IDE), e um aumento da
despesa pblica. Os sectores econmicos que registaram
um crescimento significativo so os sectores extractivos
(devido, principalmente, s exportaes de carvo),
servios financeiros ( expanso do crdito), construo,
servios, transportes e comunicaes (devido ao
desenvolvimento de infra-estruturas e mega-projectos).
No plano macroeconmico, o exerccio de 2013 registou
um aumento da oferta de moeda, a relativa estabilidade
das taxas de juro e taxas de cmbio por parte das
autoridades monetrias.
Segundo o Banco Central (www.bancomoc.co.mz) o
Metical fechou em MZN 29.75 em 31 de Dezembro de
2013 face ao USD comparativamente a MZN 29.51 em 31
de Dezembro de 2012 representando uma depreciao
anual de 0.81% relativamente a uma depreciao
anual de 8.73% em igual perodo em 2012. Esta relativa
estabilidade permaneceu controlada no que diz respeito
aos resultados em operaes financeiras por parte das
instituies financeiras.
________________________________________________________________________________
8
A taxa de referncia pela qual as Instituies financeiras podem contrair emprstimos atravs/a
partir do Banco de Moambique/Banco Central
According to the African Development Bank Groups AfDB

African Economic Outlook (2014), the economic growth has been
underpinned by increased foreign direct investment (FDI), and
increased public expenditure. The economic sectors that have
witnessed significant growth are the extractive sectors (mainly
due to coal exports), financial services (due to credit expansion),
construction, services and transport and communication (due to
the infrastructure development and mega projects).
On the macroeconomic front, 2013 has seen increase in
money supply, relative stability in policy interest rates and
exchange rates from monetary authorities.
According to the Central Bank website (www.bancomoc.
co.mz) the Metical closed at MZN 29.75 on 31 December
2013 against the US Dollar as compared to MZN 29.51 at
31 December 2012 representing an annual depreciation of
0.81% compared to an annual depreciation of 8.73% during
the similar period in 2012. This relative stability has resulted in
subdued trading income for financial institutions.
________________________________________________________________________________
8
The benchmark rate at which financial institutions can borrow money from the Mozambican
Central Bank
De acordo com o comunicado do Banco de Moambique

No. 002/2014-MPC de 12 de Maro de 2014, a taxa mdia
de juro para emprstimos de um perodo de reembolso
de um ano concedida pelos bancos comerciais foi
de 20.22%. A taxa comparativa em 31 de Dezembro
de 2012 cifrou-se em 21.38%. Pode-se notar que esta
reduo marginal acompanhou a queda de 1% nas taxas
directoras do banco central durante o ano.
O crescimento econmico resultou no aumento do
endividamento do sector privado no sistema bancrio
nacional que aumentou em 28.7%, o equivalente a cerca
de MZN 33,833 milhes em 31 de Dezembro de 2013. Alm
disso, a oferta de moeda (Base Monetria ou M3) aumentou
em MZN 30,409 milhes o que representa um aumento de
16.37% relativamente ao valor comparativo em 2012 (de
acordo com o comunicado do Banco de Moambique No.
002/2014-MPC de 12 de Maro de 2014). Isso, em conjunto
com a estabilizao nas taxas de juro, resultaram no
aumento das margens lquidas de juro para as instituies
financeiras durante o perodo.
O rcio mnimo de depsito estatutrio permaneceu
inalterado em 8% durante o perodo.
A concorrncia continua alta no mercado e espera-se que
aumente medida que novos intervenientes procuram
penetrar o mercado local. Durante 2013, o Ecobank, um
banco Pan-Africano entrou no mercado local atravs da
aquisio do Banco ProCredit e o Nedbank da frica do Sul
adquiriu igualmente a sua participao no Banco nico. As
oportunidades so abundantes considerando que o mercado
insuficientemente coberto pela banca e que o governo
est a procura de uma soluo para aumentar a incluso do
sector financeiro e apoio atravs da prestao de servios
financeiros para Pequenas e Mdias Empresas (PME). O
crescimento econmico apresenta igualmente condies
favorveis para as instituies financeiras face ao aumento
da procura de novos emprstimos, bem como o aumento dos
depsitos de fluxos de investimento directo estrangeiro.
No que concerne ao mercado de seguro, este continua sem
grandes mudanas desde a crise financeira de 2008. Durante
o ano 2013, as economias emergentes da sia (China, India,
Malsia, Indonsia, Vietname, etc) foram os principais
contribuintes para o crescimento global do sector, com uma
contribuio total de 29%. Isso revela uma mudana na
distribuio do crescimento entre os mercados emergentes e
desenvolvidos (exemplo: USA, Canad, Frana, Hong Kong,
The Marginal Lending Facility interest rate (Facilidade

Permanente de Cedncia- FPC)8 decreased from 9.5% at
the beginning of 2013 to 8.5% at the end of the 2013 year.
The corresponding Standing Deposit Facility interest rate
has decreased from 2.25% at 31 December 2012 to 1.5% at
31 December 2013. According to the Bank of Mozambique
website, the Treasury bill rates issues of 91 days, 182
days and 364 days were 5.23%, 6.57% and 7.20%
respectively at 31 December 2013. This is compared to
the Treasury bill rate for 91 days, 181 days and 364 days
of 2.6%, 3.4% and 3.70% respectively at 31 December
2012 (according to the Bank of Mozambique Press
release Nr. 001/2013-MPC dated 18 January 2013).
According to the Bank of Mozambique Press release Nr.
002/2014-MPC dated 12 March 2014, the average interest
rate for one-year repayment period loans granted by
commercial banks was 20.22%. The comparative rate at 31
December 2012 stood at 21.38%. One can note that this
marginal decrease accompanied the 1% decrease in policy
rates by the central bank during the year.
The economic growth has resulted in the increase in private
sector indebtedness within the national banking system
which has increased by 28.7%, equivalent to MZN 33,833.1
million at 31 December 2013. In addition, the money
supply (Base money or M3) increased by MZN 30,409
million which represents an increase of 16.37% from the
comparative amount in 2012 (according to the Bank of
Mozambique Press release Nr. 002/2014-MPC dated 12
March 2014). This, coupled with stabilisation in interest
rates, has resulted in increased net interest margins for
financial institutions during the period.
The minimum statutory deposit ratio remained
unchanged at 8% during the period.
Competition remains high in the market and it is expected
to increase as new players seek to enter the local market.
During 2013, EcoBank, a pan-African bank has entered in
the local market through the acquisition of ProCredit Bank
and Nedbank of South Africa has also acquired shareholding
in Banco nico. Opportunities are abound as the market is
considered relatively under banked and the government is
seeking to increase financial sector inclusion and support
through the provision of financial services to small and
medium enterprises (SMEs). The economic growth also
present favourable conditions for financial institutions in the
form of increased demand for new loans as well as increased
deposits from foreign direct investment inflows.
Regarding the insurance market, this has operated without
major changes since the financial crisis in 2008. During
2013 the emerging Asian economies (China, India, Malaysia,
Japo, Austrlia, etc.) ao longo da ltima dcada, em que

antes da crise financeira de 2008-2009, contribuam com
cerca de 80% do crescimento total. (Global Insurance Industry
Insight by Mckinsey & Company 2014)
De acordo com o estudo feito pela Swiss Re reportado
atravs do Sigma, os prmios brutos globais emitidos
em 2013 foram de USD 4,641 bilies representando
um crescimento de 1.4% relativamente ao crescimento
registado em 2012 que foi de 2.5%. A desacelerao
deveu-se principalmente fraqueza no sector do
ramo Vida nos mercados desenvolvidos. Os prmios
de Vida Globais subiram apenas 0.7% em 2013, com
vendas fracas na Amrica do Norte e nos mercados
asiticos desenvolvidos. Em compensao houve um
forte desempenho na Europa Ocidental, Ocenia e na
maioria dos mercados emergentes. (Swiss Re Sigma
Sstudy on World Insurance in 2013)
Os prmios do ramo No Vida cresceram 2.3%, tambm
inferior ao ano anterior que registou um crescimento de
2.7%, reduo que tambm verificou-se igualmente nos
mercados desenvolvidos e emergentes. A rentabilidade
global nos sectores Vida e No Vida melhorou, no entanto,
os retornos do investimento, uma componente importante
dos lucros das seguradoras, permanecem baixas dado o
nvel muito baixo das taxas de juro desde a crise financeira
de 2008. Em 2013, as taxas de juro tenderam a subir
particularmente nos EUA e Reino Unido e continuaro at
2017, mas isso ir beneficiar as seguradoras daqui a alguns
anos. (Swiss Re Sigma Study on World Insurance in 2013).
O mercado moambicano de seguros continua a registar
melhorias tanto no ramo Vida, assim como no ramo No
Vida tendo registado um total de prmios emitidos no
valor de cerca de MZN 941 milhes e MZN 6,131 milhes
respectivamente, contra os valores do ano 2012 que
foram de cerca de MZN 767 milhes para o ramo Vida
e MZN 4,6141 milhes para o ramo No Vida. (KPMG
Intelligence complementado com os Dados do Instituto
de Superviso de Seguros de Moambique)
Em Moambique, o ramo Vida tem crescido ano aps
ano pelo facto da maior parte das empresas terem
includo penses compensatrias nos benefcios aos
trabalhadores e, em relao ao ramo No Vida que
maioritariamente representado pelos ramos Incndio
e Automvel, com uma percentagem total 55.5% dos
prmios emitidos. Essa percentagem justificada pelas
calamidades naturais que o pas vem sofrendo ao longo
dos ltimos anos (exemplo cheias e ciclone) e pela
crescente e facilidade de aquisio de viaturas. (KPMG
Intelligence complementado com os Dados do Instituto
de Superviso de Seguros de Moambique)
Em Moambique o sector de seguros composto
por 17 companhias sendo 13 seguradoras, uma
resseguradora e 3 entidades gestoras de fundos de
penses nomeadamente Seguradora Internacional de
Moambique (SIM), Empresa Moambicana de Seguros
(EMOSE), Global Alliance Seguros (GA), Hollard Seguros
de Moambique, Companhia de Seguros da frica
Indonesia, Vietnam, etc) were the main contributors to the

overall growth of the sector with a total contribution of 29%.
This indicates a change in the distribution of growth over
the last decade between the emerging markets and the
developed (for example: USA, Canada, France, Hong Kong,
Japan, Australia, etc.) markets, before the financial crisis of
2008-2009 these developed countries contributed around
80% of the total growth. (Global Insurance Industry Insight by
Mckinsey & Company 2014).
According to the study by Swiss Re, as reported in Sigma,
in 2013 the total of global gross premiums issued was 4,641
billion USD representing an increase of only 1.4% compared
to growth of 2.5% in 2012. The deceleration was mainly due
to the weakness in the life insurance sector in developed
markets. Global life premiums increased by only 0.7% in
2013 with weak sales in North America and in the developed
Asian markets, in contrast there was a strong performance
in Western Europe, Oceania and in most emerging markets.
(Swiss Re Sigma Study on World Insurance in 2013).
Non-life premiums grew 2.3%, also lower than the previous
year when growth of 2.7% was recorded, this slowdown
was evident in both developed and emerging markets.
Overall profitability in the life and non-life sectors improved,
however, investment returns, an important part of the profits
of insurers, remained low due to the very low level of interest
rates maintained since the financial crisis of 2008. In 2013,
interest rates showed a tendency to rise, particularly in the
United States and the United Kingdom and this will continue
until 2017, however, this will only benefit insurers in a few
years. (Swiss Re Sigma Study on World Insurance in 2013).
The Mozambican insurance market continues to register
improvements in both life insurance and non-life insurance
markets recording total premiums of around MZN 941
million and 6.131 million MZN respectively, this compares
to the 2012 totals of around MZN 767 million for life
insurance and MZN 4,641 million for non-life insurance.
(KPMG Intelligence supplemented by data from the
insurance supervisory Institute of Mozambique).
In Mozambique, the life insurance sector has grown year
after year due to the fact that most companies have included
compensatory pension benefits to employees. The nonlife branch is dominated by fire and motor insurance which
account for 55.5% of the total premiums issued. This
percentage is explained by the natural disasters the country
has suffered over the last few years (e.g. floods and cyclones)
and by the ease of acquisition and growth in ownership of
vehicles. (KPMG Intelligence supplemented by data from the
Mozambique Institute for the Supervision of Insurance).
In Mozambique the insurance sector comprises 17
companies, 13 insurers, 1 reinsurer and 3 pension
fund managers namely Seguradora Internacional de
Moambique (SIM), Empresa Moambicana de Seguros
(EMOSE), Global Alliance Seguros (GA), Hollard Seguros
de Moambique, Companhia de Seguros da frica Austral,
Moambique Companhia de Seguros (MCS), Tranquilidade
Moambique Companhia de Seguros, Nico Moambique
Austral, Moambique Companhia de Seguros (MCS),

Tranquilidade Moambique Companhia de Seguros,
Nico Moambique Vida Companhia de Seguros, Real
Companhia de Seguros de Moambique, Companhia
de Seguros ndico, Phoenix Seguros, Diamond
Seguros, Fidelidade Seguradora, Resseguradora
MOZRE, Kuhanha Sociedade Gestora de Fundo
de Penses, Standard Bank Sociedade Gestora de
Fundos e Moambique Providente sendo as trs
ultimas gestoras de fundos de penses. (Instituto de
Superviso de Seguros de Moambique)
Deste conjunto, somente a SIM, a EMOSE, a Global
Alliance, a Hollard, aTranquilidade e a Fidelidade
exploram cumulativamente os ramos Vida e No Vida,
enquanto as restantes exploram somente o ramo No Vida
exceptuando as entidades gestoras de fundos de penses.
(Instituto de Superviso de Seguros de Moambique).
O sector apresenta uma estrutura Oligopolista, medida
pelo volume de negcios (Prmios Brutos Emitidos) de
MZN 6,154 milhes dos 4 maiores operadores, o que
representa 87.0% do sector. A penetrao dos seguros na
economia em termos percentuais dos prmios totais (Vida
e No Vida) sobre o PIB foi de 1.5% verificando uma subida
de 0.02pp relativamente ao ano anterior. (Instituto de
Relativamente ao perodo 2012/2013, o sector de
seguro registou um crescimento no volume de
negcio de 31.4% comparativamente ao perodo
2012/2011 (12.29%). Em termos monetrios, o volume
de negcio registado passou de MZN 5,382 milhes
em 2012 para MZN 7,073 milhes em 2013. (Instituto de
Na presente edio, o sector de Actividades Financeiras e
de Seguros contou com a participao de 24 empresas, das
quais 16 constam no ranking das 100 maiores empresas.
Neste sector, o destaque vai para o Banco nico, SA e para
Moambique Companhia de Seguros, S.A por constiturem
novas entradas em relao a edio anterior.
As empresas participantes totalizaram um volume
de negcios de cerca de MZN 35,613 milhes, sendo
MZN 34,423 milhes pertencentes as empresas que
constam no ranking (96.66%).
No que concerne ao resultado lquido, no geral, grande
parte das firmas participantes obteve lucros, estes
totalizaram cerca de MZN 6,265 milhes contra os 4,728
milhes obtidos em 2012. Neste critrio, destacam-se
o BIM Banco Internacional de Moambique, SA com
lucros na ordem de MZN 3,303 milhes, seguido do
BCI Banco Comercial e de Investimentos, SA com
MZN 1,421 milhes. Importa realar tambm o First
National Bank que saiu de uma situao de prejuzos
em 2012 de cerca MZN 91.4 milhes para uma situao
de lucros em 2013 cerca de MZN 104.2 milhes.
Quanto a rentabilidade de capitais prprios, o sector
obteve um total de 15.70% onde as empresas Letsego
Financial Services Mozambique, SA e a Mozre
Vida Companhia de Seguros, Real Companhia de Seguros

de Moambique, Companhia de Seguros ndico, Phoenix
Seguros, Diamond Seguros, Fidelidade Seguradora,
Resseguradora MOZRE, Kuhanha Sociedade Gestora de
Fundo de Penses, Standard Bank Sociedade Gestora de
Fundos and Moambique Providente; the last three are
pension funds managers. (Mozambique Institute for the
Supervision of Insurance).
Of this group, only SIM, EMOSE, Global Alliance, Hollard,
Tranquilidade and Fidelidade are active in both life and
non-life branches, the remaining companies, apart from
the pension fund managers only offer non-life insurance
(Mozambique Institute for the Supervision of Insurance).
The sector has an Oligopolistic structure, as demonstrated
by the fact that the turnover (Gross Premiums Written) of
the four major operators of MZN 6,154 million represents
87.0% of the total for the sector. The impact of the
insurance sector on the economy in terms of the total
value of premiums (life and non-life) as a percentage of
GDP was 1.5%, an increase of 0.02pp on the previous year.
(Mozambique Institute for the Supervision of Insurance).
For the period 2012/2013, the insurance sector recorded
growth in turnover of 31.4% compared to 12.29% from
2011 to 2012. In monetary terms the volume of business
increased from MZN 5,382 million in 2012 to MZN 7,073
million in 2013. (Mozambique Institute for the Supervision
of Insurance).
In the present edition, the sector of Financial Activities
and Insurance included the participation of 24 companies,
of which 16 are included in the ranking of the Top 100
companies. In this sector, the emphasis is given to the
Banco nico e para Moambique Companhia de Seguros,
S.A because they constitute new entries compared to the
previous edition
The companies participating in this sector recorded a
revenue of approximately MZN 35,613 million, being MZN
34,423 million belonging to the companies listed in the
ranking (96.66%)
Regarding the net result, in general, most of the
participating companies made profits, of approximately
MZN 6,265 million against 4,728 million obtained in 2012.
According to this criterion, prominence goes to BIM
Banco Internacional de Moambique, SA with profits of
approximately MZN 3,303 million, followed by BCI Banco
Comercial e de Investimentos, SA with MZN 1.421 million.
Prominence goes also to the First National Bank which
went out from a situation of losses in 2012 (around MZN
91.4 million) to a situation of profits in 2013 (around MZN
104.2 million)
Regarding return on equity, the sector earned a total
of 15.70% where the companies Letsego Financial
Services Mozambique, SA e a Mozre Moambique
Resseguros, SA recorded the highest rates of 58.19%
and 50.04% respectively.
Moambique Resseguros, SA registaram as maiores

taxas de 58.19% e 50.04% respectivamente.
O sector contou com 9,748 trabalhadores empregados,
sendo que 8,984 trabalhadores (92.16%) so das empresas
que fazem parte do ranking. A maior empregadora deste
sector foi o BIM Banco Internacional de Moambique,
SA com 2,329 trabalhadores, seguida pelo BCI Banco
Comercial e de Investimentos, SA com 2,121 e o Standard
Bank, SA com 1,041 trabalhadores empregues.
The sector was represented by 9,748 employed workers,

with 8,984 employees (92.16%) of companies that are
part of the ranking. The largest employer in this sector
was BIM Banco Internacional de Moambique, SA with
2,329 employees, followed by BCI Banco Comercial e de
Investimentos, SA with 2,121 and Standard Bank, SA with
1, 041 employed workers.
Volume de Negcios e Trabalhadores / Revenue and Employees
Rank
2013
2012
1
2013
2
1
3
2
4
3
5
4
6
5
7
6
8
7
9
8
10
9
11
10
12
11
13
12
14
13
15
14
16
15
17
16
18
17
19
18
20
19
21
20
22
21
23
22
24
23
1
2012
2
1
3
2
5
3
6
5
4
6
9
4
8
9
7
8
10
7
13
10
n.a
13
15
n.a
11
15
14
11
12
14
16
12
17
16
n.a
17
21
n.a
18
21
20
18
23
20
22
23
24
22
2013
Vol. de Neg. / Revenues

(103 Meticais)
3
%13/12
2012(10 Meticais)
2013
N Trabalhadores
N of Employees
N Trabalhadores
N of Employees
%13/12
2012
2013

Standard Bank, SARL
Emose - Empresa Moambicana de Seguros, SA
Standard Bank, SARL
Global Alliance Seguros, SA
Seguradora Internacional de Moambique (SIM), SA
Moza Banco, SA
Barclays Bank Moambique, SA
Moza Banco, SA
Hollard Moambique Companhia de Seguros , SARL
FNB - First National Bank Moambique, SA
BancABC, SA
Banco nico, SA
BancABC, SA
Banco nico, SA
Mozre - Moambique Resseguros, SA
Banco Procredit, SA
Socremo - Banco de Microfinanas, SA
Banco Procredit, SA
Banco Nacional de Investimentos, SA
GAPI - Sociedade de Investimentos, SA
Moambique Companhia de Seguros, S.A
Cooperativa de Poupana e Crdito (CPC), SCRL
Banco Terra, SA
Banco Oportunidade de Moambique, SARL
Banco Terra, SA
Banco Mercantil e de Investimentos (BMI), SA
Capitalbank, SA (ex. International Commercial Bank, SA)
8,039,551
2013
5,191,286
8,039,551
4,585,240
5,191,286
4,340,000
4,585,240
2,470,202
4,340,000
2,368,000
2,470,202
1,197,345
2,368,000
1,194,130
1,197,345
1,057,622
1,194,130
791,262
1,057,622
752,176
791,262
613,488
752,176
549,750
613,488
480,632
549,750
419,880
480,632
372,623
419,880
236,900
372,623
232,377
236,900
204,196
232,377
151,280
204,196
133,834
151,280
122,664
133,834
71,943
122,664
36,718
71,943
7,459,047
2012
4,371,027
7,459,047
4,325,977
4,371,027
1,951,000
4,325,977
1,800,450
1,951,000
1,986,000
1,800,450
599,795
1,986,000
1,294,584
599,795
807,429
1,294,584
512,402
807,429
599,213
512,402
241,333
599,213
246,752
241,333
412,102
246,752
435,592
412,102
372,957
435,592
237,492
372,957
191,367
237,492
160,024
191,367
109,891
160,024
145,639
109,891
122,460
145,639
47,630
122,460
55,951
47,630
7.78
%13/12
18.77
7.78
5.99
18.77
122.45
5.99
37.20
122.45
19.23
37.20
99.63
19.23
(7.76)
99.63
30.99
(7.76)
54.42
30.99
25.53
54.42
154.21
25.53
122.79
154.21
16.63
122.79
(3.61)
16.63
(0.09)
(3.61)
(0.25)
(0.09)
21.43
(0.25)
27.60
21.43
37.66
27.60
(8.11)
37.66
0.17
(8.11)
51.05
0.17
(34.37)
51.05
2,329
2013
2,121
2,329
1,041
2,121
325
1,041
93
325
147
93
437
147
865
437
61
865
280
61
207
280
334
207
85
334
19
85
301
19
339
301
34
339
122
34
37
122
30
37
157
30
240
157
57
240
87
57
2,298
2012
1,906
2,298
969
1,906
330
969
87
330
146
87
325
146
878
325
55
878
257
55
166
257
248
166
62
248
19
62
346
19
328
346
23
328
120
23
33
120
25
33
158
25
216
158
57
216
79
57
1.35
%13/12
11.28
1.35
7.43
11.28
(1.52)
7.43
6.90
(1.52)
0.68
6.90
34.46
0.68
(1.48)
34.46
10.91
(1.48)
8.95
10.91
24.70
8.95
34.68
24.70
37.10
34.68
0.00
37.10
(13.01)
0.00
3.35
(13.01)
47.83
3.35
1.67
47.83
12.12
1.67
20.00
12.12
(0.63)
20.00
11.11
(0.63)
0.00
11.11
10.13
0.00
3,475
2013
2,578
3,475
4,562
2,578
13,252
4,562
27,447
13,252
16,164
27,447
3,143
16,164
1,370
3,143
18,235
1,370
2,947
18,235
4,033
2,947
2,108
4,033
7,480
2,108
25,296
7,480
1,298
25,296
1,117
1,298
8,312
1,117
1,920
8,312
5,834
1,920
5,501
5,834
850
5,501
538
850
1,262
538
442
1,262
36,718
55,951
(34.37)
87
79
10.13
442
VN por Trabalhador
3
(10
Meticais)
VN por
Trabalhador
Revenue
%13/12
2012 per3 Employee
(10 Meticais)
Rank
Empresa
Custos
e Rentabilidade
/ Operating Cost and Profit
Rank
2013
2012
1
2013
2
1
3
2
4
3
5
4
6
5
7
6
8
7
9
8
10
9
11
10
12
11
13
12
14
13
15
14
16
15
17
16
18
17
19
18
20
19
21
20
22
21
23
22
24
23
1
2012
2
1
3
2
5
3
6
5
4
6
9
4
8
9
7
8
10
7
13
10
n.a
13
15
n.a
11
15
14
11
12
14
16
12
17
16
n.a
17
21
n.a
18
21
20
18
23
20
22
23
24
22
2013

Standard Bank, SARL
Moza Banco, SA
Moza Banco, SA
BancABC, SA
Banco nico, SA
BancABC, SA
Banco nico, SA
Banco Procredit, SA
Banco Procredit, SA
Banco Terra, SA
Banco Terra, SA
3,483,047
3,166,000
2,493,120
2,288,666
3,166,000
1,858,000
2,288,666
1,051,800
1,858,000
(1,635,271)
1,051,800
429,592
(1,635,271)
654,332
429,592
519,967
654,332
685,433
519,967
102,241
685,433
445,875
102,241
326,988
445,875
215,428
326,988
160,682
215,428
194,108
160,682
130,483
194,108
81,572
130,483
0
81,572
14,508
0
86,431
14,508
(90,440)
86,431
2,872,471
1,465,000
2,242,963
1,682,929
1,465,000
1,491,000
1,682,929
610,464
1,491,000
(1,550,427)
610,464
367,913
(1,550,427)
571,530
367,913
433,364
571,530
577,212
433,364
76,949
577,212
402,156
76,949
380,951
402,156
212,521
380,951
141,198
212,521
178,721
141,198
110,441
178,721
67,387
110,441
(368,015)
67,387
15,876
(368,015)
97,240
15,876
(74,198)
97,240
21.26
116.11
11.15
35.99
116.11
24.61
35.99
72.30
24.61
(5.47)
72.30
16.76
(5.47)
14.49
16.76
19.98
14.49
18.75
19.98
32.87
18.75
10.87
32.87
(14.17)
10.87
1.37
(14.17)
13.80
1.37
8.61
13.80
18.15
8.61
21.05
18.15
21.05
(8.62)
(11.12)
(8.62)
(21.89)
(11.12)
1,420,545
149,000
1,246,439
122,689
149,000
399,000
122,689
22,252
399,000
(603,228)
22,252
94,242
(603,228)
104,177
94,242
32,184
104,177
(100,810)
32,184
181,834
(100,810)
25,366
181,834
(15,364)
25,366
48,962
(15,364)
49,333
48,962
10,526
49,333
2,294
10,526
47,140
2,294
(221,772)
47,140
38,507
(221,772)
(13,577)
38,507
(77,192)
(13,577)
1,293,282
72,000
1,243,527
79,265
72,000
392,000
79,265
(67,379)
392,000
(732,337)
(67,379)
100,781
(732,337)
(91,396)
100,781
65,932
(91,396)
(280,643)
65,932
58,564
(280,643)
5,929
58,564
(82,761)
5,929
33,746
(82,761)
63,422
33,746
12,646
63,422
173
12,646
28,646
173
(346,443)
28,646
17,319
(346,443)
(56,649)
17,319
(60,088)
(56,649)
9.84
106.94
0.23
54.78
106.94
1.79
54.78
133.03
1.79
17.63
133.03
(6.49)
17.63
213.98
(6.49)
(51.19)
213.98
64.08
(51.19)
210.49
64.08
327.84
210.49
81.44
327.84
45.09
81.44
(22.22)
45.09
(16.76)
(22.22)
1,226.01
(16.76)
64.56
1,226.01
35.99
64.56
122.34
35.99
76.03
122.34
(28.46)
76.03
1,679,924
194,000
1,764,905
181,436
194,000
538,000
181,436
36,670
538,000
(603,228)
36,670
136,985
(603,228)
122,354
136,985
50,709
122,354
(142,013)
50,709
269,322
(142,013)
34,757
269,322
(18,437)
34,757
70,203
(18,437)
76,218
70,203
10,526
76,218
4,196
10,526
69,708
4,196
(221,772)
69,708
38,507
(221,772)
(13,577)
38,507
(77,192)
(13,577)
1,520,733
233,000
1,758,155
117,521
233,000
534,000
117,521
(82,052)
534,000
(732,337)
(82,052)
140,478
(732,337)
(92,994)
140,478
97,419
(92,994)
(414,737)
97,419
66,180
(414,737)
9,945
66,180
(120,568)
9,945
52,105
(120,568)
96,293
52,105
12,646
96,293
2,329
12,646
42,504
2,329
(346,443)
42,504
17,319
(346,443)
(56,649)
17,319
(60,088)
(56,649)
10.47
(16.74)
0.38
54.39
(16.74)
0.75
54.39
144.69
0.75
17.63
144.69
(2.49)
17.63
231.57
(2.49)
(47.95)
231.57
65.76
(47.95)
306.95
65.76
249.49
306.95
84.71
249.49
34.73
84.71
(20.85)
34.73
(16.76)
(20.85)
80.16
(16.76)
64.00
80.16
35.99
64.00
122.34
35.99
76.03
122.34
(28.46)
76.03
24
22
(90,440)
(74,198)
(21.89)
(77,192)
(60,088)
(28.46)
(77,192)
(60,088)
(28.46)
No que tange ao volume de negcios por trabalhador, o

destaque vai para empresa Global Alliance Seguros, SA com
um volume de negcio por trabalhador de MZN 27 milhes
(2012: MZN 21 milhes), Mozre Moambique Companhia
de Seguros, SA com um volume de negcios de MZN 25
milhes (2012: MZN 21 milhes) por trabalhador e pela
Hollard Moambique de Seguros, SA com cerca de MZN 18
milhes (2012: MZN 16,821 milhes) por trabalhador.
Custos Operacionais
Operating Cost
3
Meticais)
Custos (10
Operacionais
Operating
Cost
%13/12
2012
3
(10 Meticais)
2013
Resultados Lquidos
Net Profits
(103 Lquidos
Meticais)
Resultados
Profits
2012 3Net%13/12
(10 Meticais)
Rank
Empresa
Balano
/ Balance
Sheet
Rank
2013
2012
3,295
2012
2,422
3,295
4,469
2,422
5,824
4,469
21,824
5,824
13,556
21,824
2,563
13,556
1,489
2,563
16,821
1,489
2,062
16,821
4,190
2,062
1,946
4,190
4,446
1,946
21,690
4,446
1,130
21,690
1,156
1,130
12,179
1,156
1,650
12,179
9,698
1,650
4,579
9,698
919
4,579
574
919
801
574
662
801
5.48
%13/12
6.44
5.48
2.09
6.44
127.54
2.09
25.77
127.54
19.23
25.77
22.60
19.23
(7.97)
22.60
8.40
(7.97)
42.92
8.40
(3.75)
42.92
8.32
(3.75)
68.23
8.32
16.63
68.23
14.87
16.63
(3.38)
14.87
(31.75)
(3.38)
16.41
(31.75)
(39.84)
16.41
20.14
(39.84)
(7.52)
20.14
(6.20)
(7.52)
57.67
(6.20)
(33.19)
57.67
1
2013
2
1
3
2
4
3
5
4
6
5
7
6
8
7
9
8
10
9
11
10
12
11
13
12
14
13
15
14
16
15
17
16
18
17
19
18
20
19
21
20
22
21
23
22
24
23
1
2012
2
1
3
2
5
3
6
5
4
6
9
4
8
9
7
8
10
7
13
10
n.a
13
15
n.a
11
15
14
11
12
14
16
12
17
16
n.a
17
21
n.a
18
21
20
18
23
20
22
23
662
(33.19)
24
22
Custos e Rentabilidade / Operating Cost and Profit

Company
Empresa
Company
2
5
3
6
5
4
6
9
4
8
9
7
8
10
7
13
10
n.a
13
15
n.a
11
15
14
11
12
14
16
12
17
16
n.a
17
21
n.a
18
21
20
18
23
20
22
23
In terms of revenue per employee, prominence goes to

Global Alliance Seguros, SA with a revenue per employee
of MZN 27.447 million (2012: MZN 21 824 million), Mozre
Moambique Companhia de Seguros, SA with a revenue of
MZN 25,296 million (2012: MZN 21 690 million) per employee
and Hollard Moambique de Seguros, SA with MZN 18,235
million (2012: MZN 16.821 million) per employee.
Balano / Balance Sheet
Rank
Empresa e Trabalhadores / Revenue and Employees
Volume
de Negcios
Company
Empresa
Company
2
4
3
5
4
6
5
7
6
8
7
9
8
10
9
11
10
12
11
13
12
14
13
15
14
16
15
17
16
18
17
19
18
20
19
21
20
22
21
23
22
24
23
Resultados Antes dos Impostos

Income Before Taxes
(103 Impostos
Meticais)
Resultados Antes dos
Income
Taxes
%13/12
2012 Before
2013
3
(10 Meticais)
Company
Empresa
Company
2013
2013
Activo Corrente
Current Assets
(103 Corrente
Meticais)
Activo
Current
%13/12
2012 Assets
(103 Meticais)
2013
Passivo Total
Total Liabilities
3
(10
Meticais)
Passivo
Total
Total
Liabilities
%13/12
2012
(103 Meticais)
2013
Passivo Corrente
Current Liabilities
(103 Corrente
Meticais)
Passivo
Current
Liabilities
%13/12
2012
(103 Meticais)

Standard Bank, SARL
Standard Bank, SARL
Moza Banco, SA
Moza Banco, SA
BancABC, SA
Banco nico, SA
BancABC, SA
Banco nico, SA
Banco Procredit, SA
Banco Procredit, SA
Banco Terra, SA
Banco Terra, SA
85,428,239
2013
82,167,820
85,428,239
44,063,370
82,167,820
7,700,000
44,063,370
1,669,942
7,700,000
5,569,000
1,669,942
14,820,073
5,569,000
17,172,453
14,820,073
1,926,151
17,172,453
8,029,099
1,926,151
9,303,683
8,029,099
8,957,898
9,303,683
2,788,119
8,957,898
309,909
2,788,119
1,474,230
309,909
1,045,855
1,474,230
2,350,518
1,045,855
911,123
2,350,518
242,408
911,123
1,797,700
242,408
1,939,977
1,797,700
364,468
1,939,977
1,179,236
364,468
672,917
1,179,236
70,646,624
2012
68,094,227
70,646,624
42,400,315
68,094,227
5,484,000
42,400,315
1,066,572
5,484,000
5,145,000
1,066,572
8,689,027
5,145,000
16,156,608
8,689,027
1,295,917
16,156,608
5,807,154
1,295,917
6,284,852
5,807,154
6,879,165
6,284,852
1,570,868
6,879,165
372,108
1,570,868
1,491,749
372,108
967,491
1,491,749
2,815,703
967,491
969,099
2,815,703
204,596
969,099
1,434,172
204,596
1,972,671
1,434,172
367,094
1,972,671
1,064,830
367,094
805,361
1,064,830
20.92
%13/12
20.67
20.92
3.92
20.67
40.41
3.92
56.57
40.41
8.24
56.57
70.56
8.24
6.29
70.56
48.63
6.29
38.26
48.63
48.03
38.26
30.22
48.03
77.49
30.22
(16.72)
77.49
(1.17)
(16.72)
8.10
(1.17)
(16.52)
8.10
(5.98)
(16.52)
18.48
(5.98)
25.35
18.48
(1.66)
25.35
(0.72)
(1.66)
10.74
(0.72)
(16.45)
10.74
45,305,898
2013
34,571,939
45,305,898
30,335,478
34,571,939
1,824,000
30,335,478
1,442,630
1,824,000
5,524,000
1,442,630
7,856,814
5,524,000
10,804,977
7,856,814
1,905,956
10,804,977
4,476,103
1,905,956
8,812,284
4,476,103
8,812,284
541,808
285,650
541,808
1,045,964
285,650
709,025
1,045,964
495,916
709,025
240,378
495,916
195,052
240,378
1,750,475
195,052
1,398,063
1,750,475
293,503
1,398,063
70,279
293,503
539,267
70,279
39,554,787
2012
28,101,342
39,554,787
31,132,666
28,101,342
1,111,000
31,132,666
850,236
1,111,000
5,103,000
850,236
5,356,627
5,103,000
10,501,962
5,356,627
1,274,317
10,501,962
3,880,696
1,274,317
5,777,350
3,880,696
5,777,350
337,185
301,522
337,185
1,087,330
301,522
709,355
1,087,330
786,872
709,355
94,510
786,872
156,377
94,510
1,415,732
156,377
1,210,583
1,415,732
289,535
1,210,583
1,064,830
289,535
590,424
1,064,830
14.54
%13/12
23.03
14.54
(2.56)
23.03
64.18
(2.56)
69.67
64.18
8.25
69.67
46.67
8.25
2.89
46.67
49.57
2.89
15.34
49.57
52.53
15.34
52.53
60.69
(5.26)
60.69
(3.80)
(5.26)
(0.05)
(3.80)
(36.98)
(0.05)
154.34
(36.98)
24.73
154.34
23.64
24.73
15.49
23.64
1.37
15.49
(93.40)
1.37
(8.66)
(93.40)
71,190,217
2013
75,957,899
71,190,217
37,283,869
75,957,899
5,602,000
37,283,869
1,213,729
5,602,000
4,002,000
1,213,729
13,468,718
4,002,000
15,481,342
13,468,718
1,549,921
15,481,342
7,141,972
1,549,921
9,303,683
7,141,972
8,022,058
9,303,683
2,324,049
8,022,058
247,250
2,324,049
1,272,773
247,250
763,503
1,272,773
47,039
763,503
552,312
47,039
204,543
552,312
1,542,313
204,543
1,359,814
1,542,313
256,440
1,359,814
1,278,572
256,440
560,547
1,278,572
58,657,710
2012
62,896,678
58,657,710
36,216,497
62,896,678
3,671,000
36,216,497
736,510
3,671,000
3,740,000
736,510
7,366,501
3,740,000
13,619,450
7,366,501
1,014,181
13,619,450
5,199,035
1,014,181
6,284,852
5,199,035
5,845,215
6,284,852
1,410,002
5,845,215
333,383
1,410,002
1,276,319
333,383
734,100
1,276,319
209,906
734,100
620,813
209,906
169,026
620,813
1,225,785
169,026
1,500,671
1,225,785
261,269
1,500,671
1,169,449
261,269
698,299
1,169,449
121.37
%13/12
20.77
121.37
2.95
20.77
52.60
2.95
64.79
52.60
7.01
64.79
82.84
7.01
13.67
82.84
52.82
13.67
37.37
52.82
48.03
37.37
37.24
48.03
64.83
37.24
(25.84)
64.83
(0.28)
(25.84)
4.01
(0.28)
(77.59)
4.01
(11.03)
(77.59)
21.01
(11.03)
25.82
21.01
(9.39)
25.82
(1.85)
(9.39)
9.33
(1.85)
(19.73)
9.33
68,096,999
2013
41,044,752
68,096,999
35,920,213
41,044,752
829,000
35,920,213
1,137,783
829,000
308,000
1,137,783
12,299,964
308,000
12,637,820
12,299,964
588,399
12,637,820
7,098,201
588,399
8,458,336
7,098,201
8,458,336
99,102
247,134
99,102
1,153,553
247,134
734,784
1,153,553
18,785
734,784
221,194
18,785
204,543
221,194
304,778
204,543
1,163,604
304,778
207,839
1,163,604
487,702
207,839
560,547
487,702
55,617,772
2012
23,179,888
55,617,772
35,236,507
23,179,888
630,000
35,236,507
679,321
630,000
117,000
679,321
7,332,661
117,000
11,272,061
7,332,661
388,833
11,272,061
3,209,048
388,833
5,456,548
3,209,048
5,456,548
37,637
332,797
37,637
1,220,938
332,797
705,401
1,220,938
16,170
705,401
246,429
16,170
169,025
246,429
69,050
169,025
1,308,307
69,050
169,709
1,308,307
492,478
169,709
698,299
492,478
22.44
%13/12
77.07
22.44
1.94
77.07
31.59
1.94
67.49
31.59
163.25
67.49
67.74
163.25
12.12
67.74
51.32
12.12
121.19
51.32
55.01
121.19
55.01
163.31
(25.74)
163.31
(5.52)
(25.74)
4.17
(5.52)
16.17
4.17
(10.24)
16.17
21.01
(10.24)
341.39
21.01
(11.06)
341.39
22.47
(11.06)
(0.97)
22.47
(19.73)
(0.97)
672,917
805,361
(16.45)
539,267
590,424
(8.66)
560,547
698,299
(19.73)
560,547
698,299
(19.73)
Indicadores / Ratios
Prprios
Balano Capitais
/ Balance
Sheet
Rank
Empresa
Indicadores
/ Ratios
2013
Activo Lquido
Net Assets
(103 Meticais)
Activo
Lquido
Net Assets
%13/12
2012
(103 Meticais)
Shareholdersfunds
(103 Meticais)
Capitais
Prprios
Shareholdersfunds
2012 %13/12
(103 Meticais)

Standard Bank, SARL
Standard Bank, SARL
Moza Banco, SA
Moza Banco, SA
BancABC, SA
Banco nico, SA
BancABC, SA
Banco nico, SA
Banco Procredit, SA
Banco Procredit, SA
Banco Terra, SA
Banco Terra, SA
3,681,295
2013
3,483,047
3,681,295
2,493,120
3,483,047
3,166,000
2,493,120
2,288,666
3,166,000
1,858,000
2,288,666
1,051,800
1,858,000
(1,635,271)
1,051,800
429,592
(1,635,271)
654,332
429,592
519,967
654,332
685,433
519,967
102,241
685,433
445,875
102,241
326,988
445,875
215,428
326,988
160,682
215,428
194,108
160,682
130,483
194,108
81,572
130,483
0
81,572
14,508
0
86,431
14,508
(90,440)
86,431
3,455,670
2012
2,872,471
3,455,670
2,242,963
2,872,471
1,465,000
2,242,963
1,682,929
1,465,000
1,491,000
1,682,929
610,464
1,491,000
(1,550,427)
610,464
367,913
(1,550,427)
571,530
367,913
433,364
571,530
577,212
433,364
76,949
577,212
402,156
76,949
380,951
402,156
212,521
380,951
141,198
212,521
178,721
141,198
110,441
178,721
67,387
110,441
(368,015)
67,387
15,876
(368,015)
97,240
15,876
(74,198)
97,240
6.53
%13/12
21.26
6.53
11.15
21.26
116.11
11.15
35.99
116.11
24.61
35.99
72.30
24.61
(5.47)
72.30
16.76
(5.47)
14.49
16.76
19.98
14.49
18.75
19.98
32.87
18.75
10.87
32.87
(14.17)
10.87
1.37
(14.17)
13.80
1.37
8.61
13.80
18.15
8.61
21.05
18.15
21.05
(8.62)
(11.12)
(8.62)
(21.89)
(11.12)
3,302,890
2013
1,420,545
3,302,890
1,246,439
1,420,545
149,000
1,246,439
122,689
149,000
399,000
122,689
22,252
399,000
(603,228)
22,252
94,242
(603,228)
104,177
94,242
32,184
104,177
(100,810)
32,184
181,834
(100,810)
25,366
181,834
(15,364)
25,366
48,962
(15,364)
49,333
48,962
10,526
49,333
2,294
10,526
47,140
2,294
(221,772)
47,140
38,507
(221,772)
(13,577)
38,507
(77,192)
(13,577)
2,978,404
2012
1,293,282
2,978,404
1,243,527
1,293,282
72,000
1,243,527
79,265
72,000
392,000
79,265
(67,379)
392,000
(732,337)
(67,379)
100,781
(732,337)
(91,396)
100,781
65,932
(91,396)
(280,643)
65,932
58,564
(280,643)
5,929
58,564
(82,761)
5,929
33,746
(82,761)
63,422
33,746
12,646
63,422
173
12,646
28,646
173
(346,443)
28,646
17,319
(346,443)
(56,649)
17,319
(60,088)
(56,649)
(10.89
%13/12
9.84
(10.89
0.23
9.84
106.94
0.23
54.78
106.94
1.79
54.78
133.03
1.79
17.63
133.03
(6.49)
17.63
213.98
(6.49)
(51.19)
213.98
64.08
(51.19)
210.49
64.08
327.84
210.49
81.44
327.84
45.09
81.44
(22.22)
45.09
(16.76)
(22.22)
1,226.01
(16.76)
64.56
1,226.01
35.99
64.56
122.34
35.99
76.03
122.34
(28.46)
76.03
3,894,916
2013
1,679,924
3,894,916
1,764,905
1,679,924
194,000
1,764,905
181,436
194,000
538,000
181,436
36,670
538,000
(603,228)
36,670
136,985
(603,228)
122,354
136,985
50,709
122,354
(142,013)
50,709
269,322
(142,013)
34,757
269,322
(18,437)
34,757
70,203
(18,437)
76,218
70,203
10,526
76,218
4,196
10,526
69,708
4,196
(221,772)
69,708
38,507
(221,772)
(13,577)
38,507
(77,192)
(13,577)
3,501,704
2012
1,520,733
3,501,704
1,758,155
1,520,733
233,000
1,758,155
117,521
233,000
534,000
117,521
(82,052)
534,000
(732,337)
(82,052)
140,478
(732,337)
(92,994)
140,478
97,419
(92,994)
(414,737)
97,419
66,180
(414,737)
9,945
66,180
(120,568)
9,945
52,105
(120,568)
96,293
52,105
12,646
96,293
2,329
12,646
42,504
2,329
(346,443)
42,504
17,319
(346,443)
(56,649)
17,319
(60,088)
(56,649)
11.23
%13/12
10.47
11.23
0.38
10.47
(16.74)
0.38
54.39
(16.74)
0.75
54.39
144.69
0.75
17.63
144.69
(2.49)
17.63
231.57
(2.49)
(47.95)
231.57
65.76
(47.95)
306.95
65.76
249.49
306.95
84.71
249.49
34.73
84.71
(20.85)
34.73
(16.76)
(20.85)
80.16
(16.76)
64.00
80.16
35.99
64.00
122.34
35.99
76.03
122.34
(28.46)
76.03
14,238,022
2013
6,209,921
14,238,022
6,779,501
6,209,921
2,098,000
6,779,501
456,213
2,098,000
1,567,000
456,213
1,351,355
1,567,000
1,691,111
1,351,355
376,230
1,691,111
887,127
376,230
721,142
887,127
935,841
721,142
464,070
935,841
62,659
464,070
201,456
62,659
282,353
201,456
2,303,479
282,353
358,810
2,303,479
37,865
358,810
255,386
37,865
580,163
255,386
108,028
580,163
(99,336)
108,028
112,370
(99,336)
11,988,914
2012
5,197,549
11,988,914
6,183,818
5,197,549
1,813,000
6,183,818
330,062
1,813,000
1,405,000
330,062
1,322,525
1,405,000
2,537,158
1,322,525
281,736
2,537,158
608,119
281,736
721,924
608,119
1,033,951
721,924
160,866
1,033,951
38,726
160,866
215,430
38,726
233,391
215,430
2,605,797
233,391
348,285
2,605,797
35,571
348,285
208,387
35,571
472,000
208,387
105,825
472,000
(104,619)
105,825
107,062
(104,619)
18.76
%13/12
19.48
18.76
9.63
19.48
15.72
9.63
38.22
15.72
11.53
38.22
2.18
11.53
(33.35)
2.18
33.54
(33.35)
45.88
33.54
(0.11)
45.88
(9.49)
(0.11)
188.48
(9.49)
61.80
188.48
(6.49)
61.80
20.98
(6.49)
(11.60)
20.98
3.02
(11.60)
6.45
3.02
22.55
6.45
22.92
22.55
2.08
22.92
5.05
2.08
4.96
5.05
(90,440)
(74,198)
(21.89)
(77,192)
(60,088)
(28.46)
(77,192)
(60,088)
(28.46)
112,370
107,062
4.96
Rank
2013
2012
1
2013
2
1
3
2
4
3
5
4
6
5
7
6
8
7
9
8
10
9
11
10
12
11
13
12
14
13
15
14
16
15
17
16
18
17
19
18
20
19
21
20
22
21
23
22
24
23
1
2012
2
1
3
2
5
3
6
5
4
6
9
4
8
9
7
8
10
7
13
10
n.a
13
15
n.a
11
15
14
11
12
14
16
12
17
16
n.a
17
21
n.a
18
21
20
18
23
20
22
23
24
22
Company
Empresa
Company
Rent VN
Profits/Revenue
Rent (%)
VN
Profits/Revenue
2013
2012
(%)
Rent. A. Liq.
Rent. Net Asset
(%)
Rent. A. Liq.
Rent.
2013 Net Asset
2012
(%)
Rent. C. P.
S/hs Funds
(%)
Rent. C.
P.
2012
2013 S/hs Funds
(%)
Liquidez Geral
Current Ratio
(%)
Liquidez Geral
Current Ratio
2012
2013
(%)

Standard Bank, SARL
Standard Bank, SARL
Moza Banco, SA
Moza Banco, SA
BancABC, SA
Banco nico, SA
BancABC, SA
Banco nico, SA
Banco Procredit, SA
Banco Procredit, SA
Banco Terra, SA
Banco Terra, SA
41.08
2013
27.36
41.08
27.18
27.36
3.43
27.18
4.97
3.43
16.85
4.97
1.86
16.85
(50.52)
1.86
8.91
(50.52)
13.17
8.91
4.28
13.17
(16.43)
4.28
33.08
(16.43)
5.28
33.08
(3.66)
5.28
13.14
(3.66)
20.82
13.14
4.53
20.82
1.12
4.53
31.16
1.12
(165.71)
31.16
31.39
(165.71)
(18.87)
31.39
(210.23)
(18.87)
39.93
2012
29.59
39.93
28.75
29.59
3.69
28.75
4.40
3.69
19.74
4.40
(11.23)
19.74
(56.57)
(11.23)
12.48
(56.57)
(17.84)
12.48
11.00
(17.84)
(116.29)
11.00
23.73
(116.29)
1.44
23.73
(19.00)
1.44
9.05
(19.00)
26.70
9.05
6.61
26.70
0.11
6.61
26.07
0.11
(237.88)
26.07
14.14
(237.88)
(118.94)
14.14
(107.39)
(118.94)
3.87
2013
1.73
3.87
2.83
1.73
1.94
2.83
7.35
1.94
7.16
7.35
0.15
7.16
(3.51)
0.15
4.89
(3.51)
1.30
4.89
0.35
1.30
(1.13)
0.35
6.52
(1.13)
8.19
6.52
(1.04)
8.19
4.68
(1.04)
2.10
4.68
1.16
2.10
0.95
1.16
2.62
0.95
(11.43)
2.62
10.57
(11.43)
(1.15)
10.57
(11.47)
(1.15)
4.22
2012
1.90
4.22
2.93
1.90
1.31
2.93
7.43
1.31
7.62
7.43
(0.78)
7.62
(4.53)
(0.78)
7.78
(4.53)
(1.57)
7.78
1.05
(1.57)
(4.08)
1.05
3.73
(4.08)
1.59
3.73
(5.55)
1.59
3.49
(5.55)
2.25
3.49
1.30
2.25
0.08
1.30
2.00
0.08
(17.56)
2.00
4.72
(17.56)
(5.32)
4.72
(7.46)
(5.32)
25.19
2013
24.91
25.19
19.23
24.91
7.62
19.23
31.21
7.62
26.85
31.21
1.66
26.85
(28.53)
1.66
28.65
(28.53)
13.93
28.65
4.46
13.93
(10.24)
4.46
58.19
(10.24)
50.04
58.19
(7.37)
50.04
18.99
(7.37)
2.01
18.99
2.98
2.01
6.25
2.98
20.33
6.25
(42.16)
20.33
36.01
(42.16)
13.31
36.01
(70.36)
13.31
26.92
2012
28.05
26.92
21.84
28.05
4.20
21.84
30.65
4.20
29.63
30.65
(5.87)
29.63
(34.13)
(5.87)
45.32
(34.13)
(15.59)
45.32
9.79
(15.59)
(54.29)
9.79
48.17
(54.29)
16.07
48.17
(36.36)
16.07
15.59
(36.36)
2.68
15.59
3.70
2.68
0.97
3.70
13.48
0.97
(87.66)
13.48
17.61
(87.66)
194.56
17.61
(43.76)
194.56
0.67
2013
0.84
0.67
0.84
0.84
2.20
0.84
1.27
2.20
17.94
1.27
0.64
17.94
0.85
0.64
3.24
0.85
0.63
3.24
1.04
0.63
1.04
5.47
1.16
5.47
0.91
1.16
0.96
0.91
26.40
0.96
1.09
26.40
0.95
1.09
5.74
0.95
1.20
5.74
1.41
1.20
0.14
1.41
0.96
0.14
0.71
2012
1.21
0.71
0.88
1.21
1.76
0.88
1.25
1.76
43.62
1.25
0.73
43.62
0.93
0.73
3.28
0.93
1.21
3.28
1.06
1.21
1.06
8.96
0.91
8.96
0.89
0.91
1.01
0.89
48.66
1.01
0.38
48.66
0.93
0.38
20.50
0.93
0.93
20.50
1.71
0.93
2.16
1.71
0.85
2.16
(210.23)
(107.39)
(11.47)
(7.46)
(70.36)
(43.76)
0.96
0.85

Rank
Empresa
Rank
Empresa
Company
/ Balance Sheet
80Balano
/ A dcima
sexta edio / The sixteenth edition
Company
2013
2012
2013
Activo Lquido
Net Assets
(103 Meticais)
Activo
Lquido
Net Assets
2012
%13/12
(103 Meticais)
2013
Activo Corrente
Current Assets
(103 Corrente
Meticais)
Activo
Current
Assets
%13/12
2012
3
(10 Meticais)
2013
Passivo Total
Total Liabilities
3
(10
Meticais)
Passivo
Total
Total
Liabilities
%13/12
2012
3
(10 Meticais)
2013
Passivo Corrente
Current Liabilities
(103 Corrente
Meticais)
Passivo
Current
Liabilities
%13/12
2012
3
(10 Meticais)
Agricultura8
e Pescas
Agriculture and
Fisheries
Por/By: CelsoTamele
(i) Desenvolvimentos recentes do sector aos nveis global, regional e nacional;
(ii) Agricultura na economia de Moambique

(por ex. sua contribuio para o PIB);
(ii)Agriculture in the Mozambican economy (i.e.

contribution to the GDP);
Historicamente, o sector da agricultura e pescas

considerado de capital importncia para a economia de
Moambique, constituindo fonte de rendimentos para 70%
da populao do pas que se dedica a agricultura, silvicultura
e pescas. A anlise dos dados de desempenho econmico
dos ltimos 10 anos permite visualizar uma tendncia de
crescimento da contribuio percentual deste sector para o
PIB do pas, a qual se manteve acima dos 22% nos ltimos 10
anos e acima dos 29% nos ltimos 4 anos (Grfico 1).
Historically, the agriculture and fisheries sector is considered to

be of prime importance for the Mozambican economy, being the
source of income for 70% of the countrys population working
in agriculture, forestry and fisheries. An analysis of economic
performance data over the past 10 years shows an upward trend
for the percentage contribution of this sector to the countrys
GDP, this has remained above 22% for the last 10 years and
above 29% for the last 4 years (graph 1).
Segundo as estatsticas da FAO mais de 3 bilhes de pessoas vivem nas zonas rurais, das quais 2.5 bilhes dependem da agricultura
para a sua subsistncia. Deste modo este sector representa um potencial enorme para o desenvolvimento econmico, especialmente
para os pases em desenvolvimento (FAO, 2013). No geral, o desempenho deste sector difere entre os pases com diferentes
nveis de desenvolvimento, e tem-se verificado uma tendncia crescente do volume de exportaes provenientes dos pases em
desenvolvimento, destinadas a suprir as necessidades das economias que no so dominadas pelo sector agrrio.
Contribuio do sector da Agricultura e Pescas no PIB de Moambique (2004-2013) /

Contribuition of agriculture and fisheries to Mozambiques GDP
35
30
25
According to FAO statistics more than 3 billion people live in rural areas, of these 2.5 billion depend on agriculture for their livelihood.This
sector therefore represents a great potential for economic development, especially for developing countries (FAO, 2013). In general, the
performance of this sector differs for countries at different levels of development and there has been a trend for increases in the volume
of exports from developing countries to meet the needs of economies that are not dominated by the agricultural sector.
20
FAO predicted an increase of 5.8% for the economies of

developing countries for the year 2013 (FAO, 2013). However, as
this sector dominates these economies, predictions reflect the
volatile economic performance associated with dependence
on weather conditions and productivity. This analysis is
especially true for the Sub-Saharan African countries, where
the agriculture sector employs about 65% of the existing work
force and also makes up a relatively high proportion of the GDP.
The productivity in this sector is relatively low in comparison
to other continents and also in relation to the existing potential
(AGRA, 2013).
According to the African Development Bank (ADB), the year
2013 closed on a positive note for Southern Africa despite
decreases in growth projections observed in almost half of the
countries in the region. The agriculture sector has contributed
to this evaluation of performance in differing ways. In Angola,
the positive economic growth resulted from robust growth
in sectors such as agriculture. South Africa is an example
of a country which ended the year with lower growth even
though the agricultural sector has shown improvement as a
result of increased productivity. For Mozambique, although
the agricultural sector has developed, its relative impact on
economic growth was overshadowed by developments in
other sectors such as the extractive industry, transport and
communications. (AFDB, 2013).
i)Recent developments in the sector at the global, regional and national level;
A FAO previa, para o ano de 2013, um crescimento

de 5.8% para as economias dos pases em vias de
desenvolvimento (FAO, 2013). Porm, por este sector
dominar estas economias, as previses transpareceram
desempenhos econmicos volteis associados a
dependncia nas condies climatricas e produtividade.
Esta anlise aplica-se aos pases da frica Sub-sahariana,
onde o sector da Agricultura emprega cerca de 65% da
fora de trabalho existente e ainda contribui com uma
percentagem relativamente elevada no PIB. No mbito
da produtividade do sector, esta encontra-se subutilizada
em comparao aos outros continentes e tambm em
relao ao potencial existente (AGRA, 2013).
Segundo o Banco Africano para o Desenvolvimento
(BAD), o ano de 2013 fechou com uma nota positiva para
a Africa Austral no obstante as descidas nas projeces
de crescimento observadas em quase metade dos pases
abrangidos. O sector da agricultura contribuiu para
esta avaliao de desempenho de forma diferenciada.
Angola apresentou um crescimento econmico positivo
resultante do crescimento robusto em sectores como
o da agricultura. A frica do Sul exemplo de um pas
que terminou o ano com um crescimento reduzido
embora o sector da agricultura tenha apresentado
melhoria como resultado do aumento da produtividade.
Para Moambique, embora o sector agrcola se tenha
desenvolvido, o seu impacto relativo no crescimento
econmico foi ofuscado pelo desenvolvimento de outros
sectores como o da indstria extractiva, transportes e
comunicaes. (AFDB, 2013).
Recent developments in the agricultural sector of Mozambique

include the initiatives for production of agricultural raw materials
to be used for biofuel production. This trend points towards
growth of this sector in terms of production and productivity.
However, there are discussions in national and international
forums on the impact that the production will have on food
security, as several food crops are considered potential crops
for biofuel production.
Os desenvolvimentos recentes no sector agrcola de

Moambique incluem o surgimento de iniciativas de
produo de matrias-primas agrcolas para a produo de
biocombustveis. Esta tendncia permite prever o crescimento
deste sector em termos de produo e produtividade. Porm
discute-se em fruns nacionais e internacionais o impacto
que a produo ter na segurana alimentar, a medida que
vrias culturas alimentares so consideradas potenciais para a
produo de biocombustveis.
15
10
5
0
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Percentagem anual do PIB (%)
Fonte: Banco de Moambique; EPAU-UNDP, SADC, Index Mundi. Source: Bank of Mozambique, EPAU-UNDP, SADC, Index Mundi
________________________________________________________________________________
8
Artigo escrito com base nas seguintes referncias:

AFDB. (2013). Southern Africa Quarterly Overview and Analysis - 4th quarter 2013. Southern Africa
Quarterly Overview and Analysis (No 11).
AGRA. (2013). Africa Agriculture Status Report: Focus on Staple Crops. Alliance for a Green
Revolution in Africa,
Nairobi, Kenya.
EPAU-UNDP, Mozambique quick facts 2011 e 2012;
Banco de Moambique, relatrios anuais de 2003 a 2011
CPI - Centro de Promoo de Investimento, Dados de Projectos Aprovados, 2002-2013. Maputo.
FAO. (2013). FAO Statistical Yearbook. Rome.
FAO. (2010). Global Forest Resources Assessment. Rome: FAO.
FAO. (2013). World Economic Situation and Prospects 2013. Rome.
Index Mundi (2014), http://www.indexmundi.com/mozambique/economy_profile.html
MINAG. (2010). Plano Estratgico para o Desenvolvimento do Sector Agrrio - PEDSA 2010-2019.
Maputo: Ministrio da Agricultura de Moambique.
MP. (2010). Plano Director das Pescas - PDP 2010-2010. Maputo: Ministrio das Pescas de
Moambique.
MPD(a) (2013) Avaliao Final dos PAPs ao Desempenho do Governo de Moambique em 2012.
MPD(b). (2013). Balano do Plano Econmico e Social de 2013. Maputo: Ministrio da Planificao e
Desenvolvimento.
MPD (2009,2010,2011,2012), Balano do Plano Econmico e Social.Ministrio da Planificao e
Desenvolvimento
SADC. (2012). Regional Agricultural Policy - Priority Policy Issues and Interventions. GaboroneBotswana:
United Nations. (2013). World Economic Situation and Prospects - Global Outlook.
________________________________________________________________________________
8
Article based on the following references:

AFDB. (2013). Southern Africa Quarterly Overview and Analysis-4th quarter 2013. Southern
Africa Quarterly Overview and Analysis (No 11).
AGRA. (2013) Africa Agriculture Status Report: Focus on Staple Crops. Alliance for a Green
Revolution in Africa,
Nairobi, Kenya.
EPAU-UNDP, Mozambique quick facts 2011 and 2012;
Banco de Moambique, annual reports from 2003 to 2011
CPI-Centre for Investment Promotion, data on approved projects, 2002-2013. Maputo.
FAO. (2013). FAO Statistical Yearbook. Rome.
FAO. (2010). Global Forest Resources Assessment. Rome: FAO.
FAO. (2013). World Economic Situation and Prospects 2013. Rome.
IndexMundi (2014), http://www.indexmundi.com/mozambique/economy_profile.html
MINAG. (2010). strategic plan for the development of the Agriculture Sector-PEDSA 2010-2019.
Maputo: Ministry of Agriculture, Mozambique.
MP. (2010). Fisheries master plan - PDP 2010. Maputo: Ministry of Fisheries, Mozambique.
MPD (a) (2013) Final evaluation of the PAPs on the performance of the Government of
Mozambique in 2012.
MPD (b). (2013). Assessment of the Economic and Social Plan 2013. Maputo: Ministry of
Planning and Development.
MPD (2009, 2010, 2011, 2012), Assessment of the Economic and Social Plan. Ministry of
Planning and Development
SADC. (2012). Regional Agricultural Policy- Priority Policy Issues and Interventions. GaboroneBotswana:
United Nations. (2013). World Economic Situation and Prospects-Global Outlook.
Nmero de Projectos aprovados anualmente de 2002 a 2013 /

Number of projects approved annually 2002-2013
60
50
# de Projectos
40
30
20
10
0
2002
2003
2004
2005
2006
2007
Agricultura e Agro-Indstria
2008
2009
2010
2011
2012
2013
Aquacultura e Pescas
Fonte: CPI. Source: CPI
Os Parceiros de Apoio Programtico (PAPs) consideram

satisfatrio o desempenho global do Governo para o
objectivo do Aumento da Produo e Produtividade
Agrria e Pesqueira para 2012/13. Segundo a avaliao
dos PAPs este desempenho traduziu-se num crescimento
do valor acrescentado de 7.1% e 7.0% para o sector
agrcola e das pescas respectivamente (MPD(a), 2013).
Partners for Programme Aid (PAPs) consider the overall

performance of the Government in relation to the objective
of increasing Agricultural and Fisheries production and
productivity for 2012/13 to be satisfactory. According to
the evaluation of the PAPs this performance resulted into
growth of 7.1% and 7.0% for the agricultural and fisheries
sector respectively (MPD (a), 2013).
A avaliao do Governo para o mesmo perodo mostra

que a agricultura enfrentou como um dos principais
desafios a ocorrncia de condies adversas como a
estiagem e cheias. Para o perodo 2012/13, a ocorrncia
de estiagem nos meses de Novembro e Dezembro e
inundaes em Janeiro no sul e centro do Pas foi um
obstculo que resultou na perda de 4% do total da rea
semeada. Contudo, a poca foi considerada boa para
todas as culturas alimentares exceptuando o arroz que
apresentou uma ligeira reduo da produo.
The Government assessment for the same period shows

that one of the main challenges facing agriculture was the
occurrence of adverse conditions such as drought and
floods. During 2012/13, the occurrence of drought in the
months of November and December and floods in January
in the south and centre of the country was a hindrance
which resulted in the loss of 4% of the total area sown.
However, the season was considered good for all food
crops except rice, which showed a slight reduction in
production.
Rendimento de algumas culturas alimentares de 2009 a 2013 / Food crop production 2009 to 2013
2,500,000
2,000,000
Toneladas / Tonnes
The short and medium term development objectives for

Mozambiques agriculture and fisheries sectors are defined
in the Strategic Plan for the development of the Agriculture
Sector-PEDSA (MINAG, 2010) and the Fisheries master
plan-PDP (MP, 2010). These two regulatory documents cover
the time horizon from 2010 to 2019 and establish as general
targets a 7% annual growth for the agriculture sector and
production of 300 thousand tons of fish for the fisheries
sector. These must be achieved through a mix of public and
private investment. As a result the growth of the agriculture
and fisheries sector is linked with the emergence of projects
in the areas of agricultural production, agro-industry,
aquaculture and fisheries. The upward trend is most striking
for projects developed in the area of agricultural production
and agro-industry.
2010
2011
2012
2013
1,500,000
1,000,000
500,000
0
Mapira
Mexoeira
Arroz
Trigo
Feijes
Amendoim
A mesma avaliao aplicada as culturas de rendimento com

a excepo da reduo na produo do algodo e cana-deacar em 63% e 7% respectivamente, quando comparados a
poca anterior (MPD(b), 2013).
The same assessment applies to cash crops with the

exception of reductions in the production of cotton and
sugarcane of 63% and 7% respectively, compared to the
previous season (MPD (b), 2013).
Segundo o balano do Plano Econmico e Social (PES) de 2013

o ramo pecurio colheu os frutos dos programas de fomento
pecurio e de preveno das principais doenas reflectindo-se
num aumento de 6.9% no valor de produo. Porm, ramos
especficos da avicultura como o da produo de ovos ainda
se ressentem da competio com as importaes de outros
pases. A ttulo de exemplo o relatrio de balano do PES 2013
aponta que os produtores de Maputo tem reduzido o mpeto
na produo como resultado das importaes provenientes da
frica do Sul e Suazilndia.
According to the evaluation of the Economic and Social Plan

(PES) for 2013 the livestock industry reap the rewards of
programmes for livestock development and prevention of
the main diseases reflected in a 6.9% increase in the value
of production. However, specific branches of poultry farming
such as egg production still suffer from competition from
imports from other countries. For example the 2013 PES
evaluation report indicates that eggs production in Maputo,
slowed down as a result of imports from South Africa and
Swaziland.
O sector das florestas de capital importncia onde,

segundo o mais recente inventrio florestal, 24% do pas
est coberto por floresta apta para produo de madeira.
O desflorestamento um dos principais constrangimentos
enfrentados por este sector, fenmeno causado pela aco
do homem atravs das queimadas descontroladas, corte para
produo de lenha, corte para abertura de novas reas de
cultivo e corte para produo de madeira (FAO, 2010).
The forestry sector is of prime importance as according to the

most recent forest inventory 24% of the country is covered
by forest suitable for timber production. Deforestation is one
of the main constraints faced by this sector, a phenomenon
caused by the action of human beings through uncontrolled
burning of trees and logging for firewood and wood
production and to open new areas for cultivation (FAO, 2010).
A explorao de recursos florestais tem sido sujeita a

averiguao devido a ocorrncia de casos reportados de
exportaes ilegais de espcies florestais com valor comercial.
A reclassificao de algumas espcies para espcies de
primeira classe e a imposio de emisso de licenas de
explorao dentro das normas resultou na reduo da
explorao florestal em 4% (MPD(b), 2013).
O sector das pescas, para o ano 2012/13, apresentou uma
dinmica variada para os subgrupos da pesca comercial,
pesca artesanal e aquacultura que traduziram-se num
crescimento geral da produo pesqueira em 3.7%.
The exploration of forest resources has been subject to

investigation due to reported cases of illegal exports of
species of trees with commercial value. The reclassification of
some species as first class species and the imposition of the
emission of exploration licenses resulted in the reduction of
forest exploration by 4% (MPD (b), 2013).
In 2012/13 the fisheries sector showed varying dynamics
for the subsets of commercial fishing, artisanal fishing
and aquaculture that resulted in overall growth in fishing
production of 3.7%.
Peca Comercial - Produo de Pescado diverso 2009 - 2013 / Total yield from commercial fishing from 2009 to 2013
7000
2009
6000
2010
2011
2012
2013
5000
4000
3000
2000
1000
0
2009
Milho
Toneladas / Tonnes
Os objectivos de desenvolvimento a curto e mdio prazo

para o sector de agricultura e pescas de Moambique
constam do Plano Estratgico para o Desenvolvimento do
Sector Agrrio - PEDSA (MINAG, 2010) e o Plano Director
das Pescas - PDP (MP, 2010). Estes dois documentos
reguladores cobrem o horizonte temporal de 2010 a 2019
e estabelecem como metas gerais um crescimento anual
de 7% para o sector da agricultura e uma produo de 300
mil toneladas de pescado para o sector de pescas, as quais
devero ser alcanados atravs de uma miscelnea de
investimentos pblicos e privados. Assim, o crescimento
do sector da agricultura e pescas acompanhado
pelo surgimento de projectos nas reas de produo
agrcola, agroindstria, aquacultura e pescas. A tendncia
de crescimento mais flagrante para os projectos
desenvolvidos na rea de produo agrcola e agroindstria.
Lagosta
Caranguejo
Gamba
Peixe
Camaro
Lagostim
Cefalopodes
Kapenta
Pesca Comercial - Produo de Kapenta 2009 - 2013 / Kapenta yield from commercial fishing from 2009 to 2013
Kapenta
20000
Toneladas / Tonnes
18000
16000
14000
12000
10000
8000
6000
4000
2000
0
2009
2010
2011
2012
2013
Pesca Artesanal - Produo de Pescado diverso 2009 - 2013 / Yield from artisanal fishing from 2009 to 2013
10000
2009
Toneladas / Tonnes
9000
2010
2011
2012
2013
8000
Data from the survey indicate that this sector had the
participation of 4 companies of which 2 are listed in Top 100
Companies of Mozambique. Prominence goes to Terra Nova,
Lda participating for the first time in the research. These
companies generated a revenue of MZN 7,165 million, being
MZN 6,941 million (96.66%) belonging to the companies
listed in the ranking.
O desempenho das empresas participantes neste sector

conduziu a obteno de um resultado lquido de MZN
508 milhes (2012: MZN 253 milhes). Neste critrio
destaca-se a empresa Mozambique Leaf Tobacco, Lda
com MZN 428 milhes, um crescimento na ordem de
83% em relao a 2012.
The performance of the participating companies in this

sector has led the achieving of a net profit of MZN 508 million
(2012: MZN 253 million). In this criterion prominence goes to
Mozambique Leaf Tobacco, Lda to MZN 428 million, a growth
of 83% compared to 2012.
A Mozambique Leaf Tobacco, Lda foi a empresa com

mais trabalhadores empregues em 2013, com cerca de
5,324 trabalhadores (2012: 4,506). No total, este sector
empregou cerca de 5,894 trabalhadores, um crescimento
de 17.5% em relao a edio anterior. A Mozambique
Leaf Tobacco, Lda, registou tambm o maior volume
de negcio por trabalhador na ordem dos MZN 1,324
milhes em relao ao ano anterior (2012: 1,209).
Mozambique Leaf Tobacco, Lda was the company with

more employed workers in 2013, with 5,324 employees
(2012: 4,506). In total, this sector employed around 5,894
employees, an increase of 17.5% compared to the previous
edition. This company has also registered the highest revenue
per employee of MZN 1,324 million in the previous year (2012:
MZN 1,209 million).
7000
6000
5000
4000
Rank
Volume
de Negcios
3000
Rank
Volume
de Negcios
2000
Rank
Volume
de Negcios
1000
Empresa
SAN
- Sociedade Algodoeira do Niassa - JFS, SARL
Mozambique
Company Leaf Tobacco, Lda
Sociedade Industrial de Pesca (SIP), Lda
SAN - Sociedade Algodoeira do Niassa - JFS, SARL
Mozambique
Leaf Tobacco, Lda
Terra Nova, Lda
SAN
- Sociedade
do Niassa - JFS, SARL
Mozambique
LeafAlgodoeira
Tobacco, Lda
Terra Nova, Lda
Sociedade
Industrial
de Pesca
Lda- JFS, SARL
SAN - Sociedade
Algodoeira
do(SIP),
Niassa
Custos e Rentabilidade
/ Operating
Cost
and Profit
Terra Nova,Industrial
Lda
4
n.a
Sociedade
de Pesca (SIP), Lda
3
3
Company
Lagosta
Caranguejo
Camaro
Acetes
Cefalopodes
Tubaro
Outros
Fauna
acompanhante
2013
2012
1
2013
Rank
2
1
2013
3
2
1
4
2013
3
2
1
4
3
2
1
2012
2
1
2012
3
2
1
n.a
2012
3
2
1
n.a
3
2
Company
Mozambique
Peixe
200000
180000
n.a
201
Company
Rank
Empresa
Custos
e Rentabilidade
Company
2013
2012
Custos
e Rentabilidade
Rank
Empresa
Mozambique
1
1
2013
2012
Rank
Empresa
2
2
Mozambique
1
1
2013
3
2
1
4
2013
3
2
1
4
3
2
2013
6,079,899
2013
354,332
6,079,899
2172013
,753
354,332
6,079,899
943
2013
217,753
354,332
6,079,899
943
217,753
354,332
943
217,753
2012
3
2
1
n.a
2012
3
2
1
n.a
3
2

Mozambique
Leaf Tobacco, Lda
Terra Nova, Lda
SAN
- Sociedade
Mozambique
LeafAlgodoeira
Tobacco, Lda
Terra Nova, Lda
Sociedade
Industrial
de Pesca
Lda- JFS, SARL
SAN - Sociedade
Algodoeira
do(SIP),
Niassa
Balano / Balance
Sheet
Terra
Nova,Industrial
Lda
4
n.a
Sociedade
de Pesca (SIP), Lda
3
3
160000
140000
120000
Rank
Empresa
Balano
/ Balance
Sheet
Terra Nova,
Lda
4
n.a
100000
Company
Empresa
Balano / Balance
Sheet
Company
2013
2012
Rank
Empresa
Balano / Balance
Sheet
Mozambique
1
1
2013
2012
Rank
Empresa
SAN
2
2
Mozambique
1
1
Rank
80000
60000
40000
20000
0
2009
2010
2011
2012
2013
2013
3
2
1
4
2013
3
2
1
4
3
2
2012
3
2
1
n.a
2012
3
2
1
n.a
3
2
2013

Mozambique
Leafdo
Tobacco,
LdaLda
Empresa Agrcola
Xuxululo,
SAN
- Sociedade
Algodoeira
Mozambique
Leaf
Tobacco,
Lda
Empresa Agrcola do Xuxululo,
Lda
Sociedade
Industrial
de Pesca
Lda- JFS, SARL
SAN - Sociedade
Algodoeira
do(SIP),
Niassa
Indicadores
/ Ratios
Empresa Agrcola
dode
Xuxululo,
Lda Lda
4
n.a
Sociedade
Industrial
Pesca (SIP),
3
3
4,397,230
2013
292,740
4,397,230
2013
213,936
292,740
4,3972013
,230
430
213,936
292,740
4,397
,230
430
213,936
292,740
430
213,936
Rank
Empresa
Prprios
Indicadores
/ Ratios
BalanoCapitais
/ Balance
Sheet
Empresa Agrcola do Xuxululo, Lda
4
A pesca comercial decresceu em 3% enquanto a pesca

artesanal cresceu 3%. A aquacultura de pequena escala
ressentiu-se da ocorrncia de cheias e inundaes
mas apresentou um crescimento de 26% contra um
crescimento de 7% apresentado pela aquacultura
industrial. O camaro como um dos principais produtos
de exportao do sector pesqueiro rendeu USD 24
milhes representando um aumento de 0.8%.
Commercial fishing decreased by 3% whilst artisanal fishing

grew by 3%. Small-scale aquaculture felt the impact of floods
but still showed growth of 26% compared to growth of 7%
achieved by industrial aquaculture. Sale of prawns, one of the
main exports of the fisheries sector, earned USD 24 million,
representing an increase of 0.8%.
2013
6,508,039
2013
432,714
6,508,039
2013
224,510
432,714
6,508,039
201
2013
224,510
432,714
6,508,039
201
224,510
432,714
201
224,510
Rank
Empresa
Custos
e Rentabilidade
Terra Nova, Lda
Pesca Artesanal - Produo de Peixe 2009 - 2013 / Fish Production 2009 to 2013
Toneladas / Tonnes
Dados da pesquisa indicam que este sector contou com

a participao de 4 empresas das quais 2 constam do
ranking das 100 Maiores Empresas de Moambique.
Importa realar a empresa Terra Nova, Lda que participa
pela primeira vez na pesquisa. Estas empresas geraram
um volume de negcios de MZN 7,165 milhes, sendo
cerca de MZN 6,941 milhes (96.66%) pertencentes as
empresas que constam do ranking.
n.a
Shareholdersfunds
Prprios
(103 Meticais)
BalanoCapitais
/ Balance
Sheet
Shareholdersfunds
2013
2012 %13/12
(103 Meticais)
BalanoCapitais
/ Balance
Sheet
Prprios
1,118,539Shareholdersfunds
690,400
62.01
2013
2012 %13/12
3 Prprios
Capitais
(10 Meticais)
185,711
96,672
92.10
1,118,539Shareholdersfunds
690,400
62.01
2012
%13/12
3
1072013
,706
104,791
2.78
Meticais)
(10
185,711
96,672
92.10
1,118,539
(3,658)
1072013
,706
185,711
1,118,539
(3,658)
107
,706
185,711
(3,658)
107
,706
690,400
62.01
(2,613)
(39.99)
2012 %13/12
104,791
2.78
96,672
92.10
690,400
62.01
(2,613) (39.99)
104,791
2.78
96,672
92.10
(2,613) (39.99)
104,791
2.78
(3,658)
(2,613) (39.99)
Activo Lquido
Net943
Assets
Activo
Lquido
(103 Meticais)
Net Assets
2012
%13/12
(103 Meticais)
Activo
Lquido
3,510,401
25.26
Net
Assets
2012
%13/12
Activo
Lquido
(103 Meticais)
286,818
2.06
3,510,401
25.26
Net Assets
2012
%13/12
3
192,191
11.31
Meticais)
(10
286,818
2.06
3,510,401
1,121
2012
192,191
286,818
3,510,401
1,121
192,191
286,818
1,121
192,191
25.26
(61.64)
%13/12
11.31
2.06
25.26
(61.64)
11.31
2.06
(61.64)
11.31

(103 Meticais)
(103 Meticais)
2012
%13/12
5,868,252 (103 Meticais)
10.90
2012
%13/12
402,953
7.39
5,868,252 (103 Meticais)
10.90
2012
158,860
402,953
5,868,252
119
2012
158,860
402,953
5,868,252
119
158,860
402,953
%13/12
41.33
7.39
10.90
68.91
%13/12
41.33
7.39
10.90
68.91
41.33
7.39
119
158,860
68.91
41.33
9
204
Custos Operacionais
119Operating68.91
Cost
3
Custos (10
Operacionais
Meticais)
Operating Cost
2012 3
%13/12
Meticais)
Custos (10
Operacionais
5,634,144
7.91
Operating
Cost
2012
%13/12
3
Custos (10
Operacionais
Meticais)
384,224
(7.78)
5,634,144
7.91
Operating Cost
%13/12
1572012
,498 3
38.26
384,224(10 Meticais)
(7.78)
5,634,144
1,172
1572012
,498
384,224
5,634,144
1,172
157
,498
384,224
1,172
157
,498
1,172
2013
2,705,668
2013
174,089
2,705,668
2013
53,693
174,089
2,705,668
280
2013
53,693
174,089
2,705,668
280
53,693
174,089
1,121
(61.64)
Company 430
Rank
Empresa
Indicadores
/ Ratios
Company
2013
2012
Indicadores
/ Ratios
Rank
Empresa
Mozambique
1
1
2013
2012
Rank
Empresa
SAN
2
2
Mozambique
1
1
2013
3
2
2012
3
2
n.a
1
4
2013
3
2
1
4
3
2
4
3
1
n.a
2012
3
2
1
n.a
3
2
n.a
3
2013
5,324
2013
357
5,324
2013
204
357
5,324
9
2013
204
357
5,324
9
204
357
7.91
(19.54)
%13/12
38.26
(77.78)
.91
(19.54)
38.26
(7.78)
(19.54)
38.26
2013
428,139
2013
78,092
428,139
2013
2,915
78,092
428,139
(1,045)
2013
2,915
78,092
428,139
(1,045)
2,915
78,092
(1,045)
2,915
N Trabalhadores
N of Employees
N Trabalhadores
N of Employees
2012
%13/12
N Trabalhadores
4,506
18.15
N
of
Employees
2012
%13/12
N Trabalhadores
310
15.16
4,506
18.15
N of Employees
2012
187
310
4,506
13
2012
187
310
4,506
13
187
310
%13/12
9.09
15.16
18.15
(30.77)
%13/12
9.09
15.16
18.15
(30.77)
9.09
15.16
13
187
(30.77)
9.09
234,109
(1,069)
2012
1,455
18,729
234,109
(1,069)
1,455
18,729
(1,069)
1,455
82.88
2.25
%13/12
100.34
316.96
82.88
2.25
100.34
316.96
2.25
100.34
2013
1,324
2013
1,297
1,324
2013
1,148
1,297
1,324
18
2013
1,148
1,297
1,324
18
1,148
1,297
Resultados Lquidos
13
(30.77)
Net Profits
Resultados
(103 Lquidos
Meticais)
Net Profits
2012 3
%13/12
(10 Lquidos
Meticais)
Resultados
234,109
82.88
Net%13/12
Profits
2012
3 Lquidos
Resultados
18,729(10 Meticais)
316.96
234,109
82.88
Net Profits
2012 3
%13/12
1,455
100.34
18,729(10 Meticais)
316.96
280
53,693
679
49,295
280
679
20.87
(58.76)
%13/12
8.92
(2.44)
20.87
(58.76)
8.92
(2.44)
(58.76)
8.92
Rent VN
(58.76)
Profits/Revenue
Rent (%)
VN
Profits/Revenue
2013
2012
Rent (%)
VN
6.58
3.99
Profits/Revenue
2013
2012
Rent (%)
VN
18.05
4.65
6.58
3.99
Profits/Revenue
2013
2012
1.30
0.92
(%)
18.05
4.65
3,278,691
4,089
2013
106,230
100,869
3,278,691
4,089
106,230
100,869
2,820,001
3,734
872012
,400
179,489
2,820,001
3,734
87
,400
179,489
4,089
106,230
3,734
87
,400
Rent. A. Liq.
3,734
Rent. Net Asset
Rent. A. Liq.
(%)
Rent. Net Asset
2013
2012
(%)
Rent. A. Liq.
9.74
6.67
Rent.
2013 Net Asset
2012
Rent. A. Liq.
(%)
26.68
6.53
9.74 Net Asset
6.67
Rent.
2013
2012
1.36
0.76
(%)
26.68
6.53
4,089
1,209
18
2012
990
1,648
1,209
18
990
1,648
18
1,148
18
990
9.49
(0.19)
%13/12
16.02
(21.27)
9.49
(0.19)
16.02
(21.27)
(0.19)
16.02
428,139
(1,045)
2013
10,278
78,381
428,139
(1,045)
10,278
78,381
(1,045)
10,278
234,109
(1,069)
2012
2,593
18,729
234,109
(1,069)
2,593
18,729
(1,069)
2,593
82.88
2.25
%13/12
296.37
318.50
82.88
2.25
296.37
318.50
2.25
296.37

18
18 Before Taxes
(0.19)
Income
(103Impostos
Meticais)
Income Before Taxes
2013
2012 3
%13/12
(10 Impostos
Meticais)
428,139
234,109
82.88
Income
Taxes
2013
2012 Before%13/12
3Impostos
78,381
18,729(10 Meticais)
318.50
428,139
234,109
82.88
Income Before Taxes
2013
2012 3
%13/12
10,278
2,593
296.37
78,381
18,729(10 Meticais)
318.50
Passivo Total
Activo Corrente
(19.54)
(1,045)
(1,069)
Total2.25
Liabilities
Current Assets
3
Passivo
Total
Activo
(10
(103 Corrente
Meticais)
Meticais)
Total Liabilities
Current Assets
2013
2012
%13/12
2012
%13/12
3
(10
(103 Corrente
Meticais)
Meticais)
Passivo
Total
Activo
3,278,691
2,820,001
16.27
2,238,514
20.87
Total
Current
Assets
2013
2012 Liabilities
%13/12
2012 %13/12
3 Corrente
3
Passivo
Total
Activo
(10 Meticais)
(10 Meticais)
100,869
179,489
(43.80)
178,436
(2.44)
3,278,691
2,820,001
16.27
2,238,514
20.87
Total Liabilities
Current Assets
2013
2012
%13/12
2012
%13/12
3
3
106,230
87
,400
21.54
49,295
8.92
(10 Meticais)
(10 Meticais)
100,869
179,489
(43.80)
178,436
(2.44)
2,238,514
679
2012
49,295
178,436
2,238,514
679
49,295
178,436
VN por Trabalhador
3
VN por
Trabalhador
(10
Meticais)
2012 3
%13/12
(10
Meticais)
VN por
Trabalhador
1,209 per Employee
9.49
Revenue
2012
%13/12
3
VN por
Trabalhador
1,648(10 Meticais)
(21.27)
1,209 per Employee
9.49
Revenue
2012
%13/12
990 3
16.02
1,648(10 Meticais)
(21.27)
16.27
9.51
%13/12
21.54
(43.80)
16.27
9.51
21.54
(43.80)
9.51
21.54
9.51
2013

Mozambique
Leaf Tobacco, Lda
Terra Nova, Lda
SAN
- Sociedade
Mozambique
LeafAlgodoeira
Tobacco, Lda
Terra Nova, Lda
Sociedade
Industrial
de Pesca
Lda- JFS, SARL
SAN - Sociedade
Algodoeira
do(SIP),
Niassa
Terra Nova,Industrial
Lda
Sociedade
de Pesca (SIP), Lda
6.58
(519.90)
2013
1.30
18.05
6.58
(519.90)
1.30
18.05
3.99
(898.32)
2012
0.92
4.65
3.99
(898.32)
0.92
4.65
9.74
(243.02)
2013
1.36
26.68
9.74
(243.02)
1.36
26.68
6.67
(95.36)
2012
0.76
6.53
6.67
(95.36)
0.76
6.53
47.34
2013
55.31
47.34
2013
2.74
55.31
47
.34
33.33
2013
2.74
55.31
47.34
33.33
2.74
55.31
(519.90)
1.30
(898.32)
0.92
(243.02)
1.36
(95.36)
0.76
33.33
2.74
Terra Nova, Lda
(519.90)
(898.32)
(243.02)
(95.36)
33.33
Passivo Corrente
(1,045)
(1,069)
2.25
Current Liabilities
2013
2,013,606
2013
60,263
2,013,606
2013
106,230
60,263
2,013,606
4,089
2013
106,230
60,263
2,013,606
4,089
106,230
60,263
4,089
106,230
Passivo
(103 Corrente
Meticais)
Current Liabilities
2012 3
%13/12
(10 Corrente
Meticais)
Passivo
1,335,041
50.83
Current
Liabilities
2012
%13/12
Passivo
(103 Corrente
Meticais)
140,390
(57.07)
1,335,041
50.83
Current Liabilities
%13/12
872012
,400
21.54
(103 Meticais)
140,390
(57.07)
1,335,041
3,734
872012
,400
140,390
1,335,041
3,734
87
,400
140,390
Rent. C. P.
4,089
S/hs
Funds
Rent. C.
P.
(%)
S/hs Funds
2012
(%)
Rent. C.
P.
S/hs103.93
Funds
2012
Rent. C.
P.
(%)
21.45
S/hs103.93
Funds
2012
2.56
(%)
21.45
103.93
81.82
2012
2.56
21.45
103.93
81.82
2.56
21.45
3,734
87
,400
50.83
9.51
%13/12
21.54
(57
.07)
50.83
9.51
21.54
(57
.07)
9.51
21.54
Liquidez Geral
9.51
Current Ratio
Liquidez Geral
(%)
Current Ratio
2013
2012
(%)
Liquidez Geral
1.34
1.68
Current Ratio
2013
2012
Liquidez Geral
(%)
2.89
1.27
1.34
1.68
Current Ratio
2013
2012
0.51
0.56
(%)
2.89
1.27
3,734
81.82
2.56
1.34
0.07
2013
0.51
2.89
1.34
0.07
0.51
2.89
0.07
0.51
1.68
0.18
2012
0.56
1.27
1.68
0.18
0.56
1.27
0.18
0.56
81.82
0.07
0.18
Para os prximos 15 anos, a OMT destacou as principais

tendncias do sector do turismo, nomeadamente: (i) demanda
intra-regional em contnuo crescimento; (ii) reduo do
tempo total de viagens; (iii) um potencial crescimento mais
acelerado do turismo nas prximas dcadas. Destinos
consolidados ou novos destinos tursticos podem se beneficiar
dessa oportunidade, a partir de polticas adequadas relativas
ao ambiente de negcios, infra-estrutura, facilidades,
marketing e recursos humanos; (iv) desafios no que diz
respeito maximizao dos benefcios sociais e econmicos
e minimizao dos impactos negativos que o turismo pode
causar, e; (vi) o padro do crescimento a longo prazo ser mais
moderado, sustentvel e inclusivo.
Alojamento,
Restaurao e
Similares
Accommodation,
Restaurants and
Similar Activities
Por/By: Mrcia Zunguze
Em 2013, a Europa foi o primeiro destino turstico com

mais de 560 milhes de viajantes internacionais, um valor
que ultrapassou os resultados j muito bons de 2012. O
crescimento foi particularmente acentuado na Europa
Meridional e Central. (Livro Verde - Segurana dos servios de
alojamento turstico 2014, Comisso Europeia)
and Iolanda Cal
A atividade turstica tem-se destacado nos cenrios nacional e internacional, o que tem provocado
uma maior preocupao dos governos e da sociedade com a sua gesto, de modo a favorecer o seu
desenvolvimento. Como actividade de extrema importncia econmica, o turismo possui uma cadeia
produtiva extensa que qualifica sua multidisciplinaridade e exige participao de diversos sectores da
sociedade e da economia. O seu planeamento complexo, uma vez que envolve um grande nmero de
actividades e pessoas, com diferentes expectativas e necessidades.
The Tourism sector has been highlighted in national and international markets which has triggered the interest
of Governments and society in its management in order to promote its development. As an important economic
activity, tourism has an extensive supply chain which explains its multidisciplinary nature which requires
participation by various sectors of society and the economy. Planning is complex as it involves a large number of
activities and people with different expectations and needs.
extremamente delicado alinhar o trabalho desses diferentes
actores, de forma a obter um conjunto integrado de aces
para melhorar a qualidade dos produtos e servios tursticos
e, consequentemente, melhorar a qualidade dos servios
prestados populao local. Isso porque muitos dos
servios so nicos e no diferenciam turistas de residentes,
principalmente no que se refere infra-estrutura bsica.
Aligning the work of these different actors in a way that

achieves an integrated set of actions that improves the quality
of tourist products and services and consequently improves
the quality of services provided to the local population is
an extremely delicate process. This is because many of the
services are singular with no differentiation between tourists
and residents, this particularly relates to basic infrastructure.
A actividade turstica nos ltimos anos tem sido de extrema

importncia no que diz respeito ao desenvolvimento e
crescimento da economia mundial. um dos sectores com
crescimento rpido no mundo e desempenha um papel
decisivo nos pases desenvolvidos e em desenvolvimento,
proporcionando um grande potencial para o crescimento
do PIB. (Importncia doTurismo na Economia -http://www.
trabalhosfeitos.com 02/2013)
Tourism in recent years has been of the utmost importance

to the development and growth of the world economy. It is
one of the sectors with rapid growth in the world and plays
a decisive role in both developed and developing countries
providing a great potential for GDP growth. (Importncia do
Turismo na Economia, in http://www.trabalhosfeitos.com).
At 2030, a Organizao Mundial do Turismo (OMT) prev

um aumento de 3.3% por ano no nmero de chegadas de
turistas internacionais em todo o mundo, chegando a data com
cerca de 1.8 bilhes de chegadas de turistas internacionais.
As chegadas em destinos emergentes devero crescer com
o dobro do ritmo (OMT, 2013). Segundo as estimativas da
OMT ao longo dos prximos 10 anos (at 2023), espera-se
que o turismo contribua com USD 6.9 trilhes para o PIB e
gere 72 milhes de novos empregos, representando cerca
de 340 milhes de empregos ao redor do mundo. (Dados da
Organizao Mundial doTurismo - 2013)
In its forecasts to the year 2030 the World Tourism

Organisation (UNWTO) predicts an increase of 3.3% per
year in the number of international tourist arrivals worldwide
reaching around 1.8 billion international tourist arrivals in 2030.
Arrivals in emerging destinations should grow at twice this
pace (UNWTO, 2013). According to ILO estimates, over the
next 10 years (until 2023) tourism is expected to contribute
6.9 trillion USD to GDP and generate 72 million new jobs
bringing the total to approximately 340 million jobs around the
world. (Data of the World Tourism Organization-2013).
The WTO highlighted the following main trends within the
tourism sector for the next 15 years: (i) continuous growth
No que diz respeito ao nmero de dormidas em

estabelecimentos de alojamento turstico a Unio Europeia
(UE) atingiu um pico de 2.6 bilhes de noites em 2013.
Alm disso, o nmero de dormidas em estabelecimentos
de alojamento turstico por no residentes (isto , turistas
de outros pases) aumentou 4.8% na UE, entre 2012 e
2013, alcanando 45% do nmero total de dormidas em
2013. (Livro Verde - Segurana dos servios de alojamento
turstico 2014, Comisso Europeia)
Em alguns pases como Malta, Chipre e Crocia, a ocupao
dos alojamentos tursticos depende quase na totalidade dos
no residentes (96%, 93% e 92%, respectivamente), enquanto
noutros, como a Romnia (18%), a Polnia ou Alemanha (em
ambos os pases, 20% de ocupao por no residentes), a
situao exactamente oposta. (Livro Verde - Segurana dos
servios de alojamento turstico 2014, Comisso Europeia)
Ao nvel do continente africano, em 2013, Angola destacouse neste sector, com um saldo positivo, em que o volume de
negcios do sector atingiu o montante de 119.1 mil milhes
de Kwanzas (USD 1.1 mil milhes) em comparao com o ano
de 2012. Os factores que estiveram na base deste aumento
das receitas prende-se com a realizao do Mundial de
Hquei em Patins e da Feira Internacional de Luanda, alm
da consolidao da estabilidade macroeconmica do pas
que tem proporcionado maior atraco do investimento
estrangeiro. As viagens de negcio destacam-se como sendo
o motivo do turismo em Angola, com um peso de 80.9% sobre
o valor total de 2013. (http://expanso.co.ao/Artigo/Geral/44227,
Jornal Expanso de 30/04/2014).
A Europa confirmou a sua posio de principal mercado
emissor de turistas para Angola com 231.2 mil. Ao nvel de
pases, Portugal destaca-se com 141.3 mil, seguido pela
frica do Sul, com 942.1 mil, e pela China, com 84.3 mil. Estes
trs pases representaram quase metade das entradas de
estrangeiros em Angola, em 2013. (http://expanso.co.ao/
Artigo/Geral/44227, Jornal Expanso de 30/04/2014)
O movimento turstico a nvel da SADC atingiu a cifra de
200,593 chegadas. Em relao aos PALOP, o movimento
turstico proveniente deste bloco atingiu 8,033 chegadas, com
SoTom e Prncipe e Moambique a destacarem-se. (Jornal
in intra-regional tourism; (ii) reduction in journey times; (iii)

potential accelerating growth in tourism over the coming
decades, with appropriate policies on business environment,
infrastructure, facilities, marketing and human resource
existing or new tourist destinations can take advantage of this
opportunity; (iv) challenges in respect of the maximisation
of social and economic benefits and minimisation of the
negative impacts that tourism can cause and; (vi) a longterm framework for growth which will be more controlled,
sustainable and inclusive.
In 2013, Europe became the first tourist destination with
more than 560 million international traveller arrivals,
a total that exceeded the already very good results in
2012. Growth was particularly strong in Southern and
Central Europe. (Livro Verde - Segurana dos servios de
alojamento turstico 2014, Comisso Europeia).
The number of overnight stays in tourist accommodation
in the European Union (EU) reached a peak of 2.6 billion in
2013, in addition, the number of overnight stays in tourist
accommodation in the EU by non-residents (i.e., tourists
from other countries) increased by 4.8% between 2012
and 2013, reaching 45% of the total number of overnight
stays in 2013. (Livro Verde - Segurana dos servios de
alojamento turstico 2014, Comisso Europeia).
In some countries such as Malta, Cyprus and Croatia,
the occupation of tourist accommodation was made up
almost completely of non-residents (96%, 93% and 92%,
respectively) whilst in others such as Romania (18%), Poland
and Germany (20% non-resident occupancy for both), the
situation was reversed. (Livro Verde - Segurana dos servios
de alojamento turstico 2014, Comisso Europeia).
In the African continent, Angola stood out in this sector in
2013, with a positive performance in that the turnover of the
sector reached a total of AOA 119.1 million (equivalent to 1.1
million dollars) in comparison to the year 2012. The factors
which were the foundation of the increasing revenues were
the hosting of the World Roller Hockey Championships and
the Luanda international trade fair as well as the consolidation
of the macroeconomic stability of the country which has
attracted greater foreign investment. The business trips are
highlighted as the main reason for tourism in Angola, with
80.9% of the total value in 2013. (in http://expanso.co.ao/
Artigo/Geral/44227, Journal Expanso 30/04/2014).
Europe has continued to be the main market for tourists
to Angola with 231.2 thousand. At a country level Portugal
stands out with 141.3 thousand, followed by South Africa
with 942.1 thousand and China, with 84.3 thousand. These
three countries account for almost half of the foreign
entries into Angola in 2013. (in http://expanso.co.ao/Artigo/
Geral/44227, Jornal Expanso 30/04/2014).
In the SADC region the tourism movement achieved a total
of 200,593 arrivals. The contribution to the tourist movement
from PALOPs (Portuguese speaking countries) totalled 8,033
with So Tom & Principe and Mozambique standing out.
(Jornal Economia e Finanas Sector turstico e hoteleiro
com saldo positivo em 2013).
Economia e Finanas Sector turstico e hoteleiro com saldo

positivo em 2013.
Em Moambique, o turismo tem sido um dos sectores que
tem contribudo significativamente para o crescimento do PIB.
Dados do PES 2013, apontam uma previso de crescimento para
o sector de Alojamento, Restaurao e Similares de cerca de
6.2%, no entanto, o BdPES 2013, aponta para um crescimento
1.2pp abaixo do planificado (5.0%).
O Plano Estratgico para o Desenvolvimento doTurismo
2004-2013 e a publicao da Lei doTurismo dois instrumentos
fundamentais para o estabelecimento das bases da poltica e
da estratgia do turismo no pas vm confirmar a importncia
atribuda pelo governo moambicano a esta actividade. Para
o ano 2014, atravs dos chamados projectos ncora esto
previstos importantes investimentos no sector, que podem
atingir USD 1.2 bilhes. Estes projectos tm como objectivo
estimular o crescimento e investimento no sector do turismo,
nomeadamente em Inhassoro (provncia de Inhambane),
reserva de Gil (provncia da Zambzia), Ilhas Epidendron
e Casuarina (provncia da Zambzia), Ilhas Crusse e Jamali
(provncia de Nampula) e Reserva Especial de Maputo
(provncia de Maputo). At ao momento foi materializada
a estratgia de concessionamento da Reserva Especial de
Maputo. (Mercados Informao Global Moambique Dossier
de Mercado: Fevereiro 2010)
Nesta edio, o sector do Alojamento, Restaurao e Similares
conta com a participao de 9 empresas, das quais 2 (duas)
so novas entradas em relao a edio anterior. Do total das
empresas participantes 4 encontram-se no ranking das 100
Maiores Empresas de Moambique.
O volume de negcios das firmas deste sector totaliza MZN
1,546 milhes, dos quais MZN 1.459 milhes (94.34%) so
absorvidos pelas empresas que constam do ranking das 100
Maiores Empresas. Em termos de volume de negcios, este
sector continua a ser liderado pela Turvisa - Empreendimentos
Tursticos, Lda com um volume de negcios de MZN 498
milhes, seguida pelas empresas Hotis Polana, S.A e Salvor
Hoteis Moambique, SARL com MZN 453 milhes e 269
milhes respectivamente.
Os resultados lquidos deste sector fixaram-se em MZN 157
milhes, contra os 37 milhes registados em 2012. Neste
indicador importa salientar o bom desempenho da AvenidaEmpreendimentosTursticos e Hoteleiros, Lda e do Bazaruto,
Lda que atingiram os maiores lucros no sector com cerca
de MZN 59.5milhes e MZN 38 milhes respectivamente.
Importa tambm realar Hotis Polana, S.A e Salvor Hoteis
Moambique, SARL que saram de situaes de prejuzos de
MZN 73.7 milhes e MZN 8.8 milhes para lucros de MZN 152
mil e MZN 59.5 milhes, respectivamente.
No que diz respeito a rentabilidade de capitais prprios, o
sector obteve um total de 10.77%, estando a liderar o sector a
empresa Bazaruto, Lda, seguido pela empresa Chef Privado e
pelo Hotel Moambicano, Lda.
As empresas participantes na pesquisa empregaram um total de
1,546 trabalhadores, dos quais 1,391 trabalham nas empresas que
constam no ranking das 100 Maiores. Em termos de rentabilidade
de volume de negcios por trabalhador destaca-se a empresa
Frum Hoteis eTurismo, Lda (Hotel Santa Cruz) com a maior taxa
de crescimento com 18.68%.
In Mozambique tourism has been one of the sectors that

has contributed significantly to GDP growth. Data from the
2013 economic and social plan indicated a growth forecast
for this sector of around 6.2% however, during the review
of the implementation of the plan growth of 5.0% (1.2pp
below the forecast) was reported.
The strategic plan for the development of tourism 20042013 and the Tourism Law two instruments that are
fundamental for the establishment of the policies and
the tourism strategy in the country, demonstrate the
importance attributed by the Mozambican Government
to this activity. For 2014, through the designated anchor
projects there is provision for significant investments in
the sector which could reach USD 1.2 billion. These projects
aim to stimulate growth and investment in the tourism
sector, in particular in Inhassoro (Inhambane province), Gil
reserve (Zambezia province), the Islands of Epidendron and
Casuarina (Zambezia province), the Islands of Crusse and
Jamali (Nampula province) and the Maputo Special Reserve
(Maputo province). So far the strategy for the concession
for the Maputo Special Reserve has materialised.
(Mercados Informao Global Moambique Dossier de
Mercado: Fevereiro 2010).
In this edition, the Accommodation, Restoration and Similar
Activities sector is represented by 9 companies, of which
2 are new entries compared to the previous edition. Of all
participating companies 4 are in the Top 100 Companies in
Mozambique.
The revenue of the companies in this sector is represented
by a total of 1,546 million MZN, of which MZN 1,459
million (94.34%) are absorbed by the companies listed in
the Top 100 Companies ranking. In terms of revenue this
sector continues to be led by Turvisa- Empreendimentos
Tursticos, Lda with a revenue of 498 million MZN, followed
by Hotis Polana, S.A e Salvor Hotis Moambique, SARL
with 453 and 269 million MZN respectively.
Net results for this sector stood at MZN 157 million,
compared to MZN 37 million in 2012. In this indicator
is important to note the good performance of AvenidaEmpreendimentos Tursticos e Hoteleiros, Lda and
do Bazaruto, Lda achieving the highest profits in the
sector with MZN 59.5 and 38 million MZN respectively.
Prominence goes also to Hotis Polana, S.A e Salvor Hotis
Moambique, SARL leaving behind the crisis situation of
losses of MZN 73.7 and 8.8 million to profit of MZN 152
thousand and 59.5 million, respectively.
With regard to return on equity, the sector earned a total
of 10.77%, and the sector is led by Chef Privado with
a revenue of 100%, followed by Hotel Moambicano
with 49.54% and Avenue Hoteliers and Avenida
Empreendimentos Tursticos e Hoteleiros, Lda with 33.78%
The participating companies in the survey employed a total
of 1,546 employees, of which 1,391 work in companies
listed in the Top 100 Companies ranking. With regard to the
return on revenue per employee prominence goes to Frum
Hoteis e Turismo, Lda (Hotel Santa Cruz) with the highest
growth rate of 18.68%.

Rank

(103 Meticais)
Empresa
Company
N Trabalhadores
N of Employees
VN por Trabalhador
(103 Meticais)
2013
2012
2013
2012
%13/12
2013
2012
%13/12
2013
2012
%13/12
Turvisa - Empreendimentos Tursticos, Lda
498,045
479,003
3.98
529
458
15.50
1,009
1,153
(12.46)
Hoteis Polana, SA
452,651
416,784
8.61
384
369
4.07
1,202
1,120
7.31
Salvor Hoteis Moambique, SARL
268,990
252,542
6.51
342
334
2.40
796
789
0.84
238,970
262,828
(9.08)
136
148
(8.11)
1,683
1,940
(13.24)
Hotel Moambicano, Lda
38,158
43,018
(11.30)
74
74
0.00
516
581
(11.30)
Forum Hotis e Turismo, Lda (Hotel Sta Cruz)
27,593
24,925
10.70
54
57
(5.26)
497
419
18.68
PROMOTUR - Residencial Hoyo-Hoyo, Lda
19,640
20,400
(3.73)
25
25
0.00
786
770
2.05
n.a
Bazaruto, Lda
1,986
11,834
(83.22)
n.a
Chef Privado
100
80
25.00
100.00
67
160
(58.33)

Rank
Empresa
Company
Resultados Lquidos
Net Profits
(103 Meticais)
Custos Operacionais
Operating Cost
(103 Meticais)

Income Before Taxe
(103 Meticais)
2013
2012
2013
2012
%13/12
2013
2012
%13/12
2013
2012
409,183
376,380
8.72
16,472
26,697
(38.30)
28,759
26,274
9.46
Hoteis Polana, SA
292,088
296,012
(1.33)
29,122
(73,685)
139.52
7,510
(75,685)
109.92
35,445
27,319
29.74
152
(8,817)
101.72
2,405
(11,374)
121.14
187,292
199,494
(6.12)
59,543
60,718
(1.94)
97,591
89,978
8.46
28,429
32,063
(11.33)
6,616
6,806
(2.79)
9,729
10,009
(2.80)
20,838
19,160
8.76
4,495
5,672
(20.75)
4,495
5,672
(20.75)
15,944
14,647
8.86
2,374
5,845
(59.38)
3,526
5,845
(39.67)
n.a
Bazaruto, Lda
26,114
15,043
73.60
38,036
14,050
170.72
38,036
14,050
170.72
n.a
Chef Privado
40
30
33.33
40
30
33.33
60
50
20.00
%13/12

Rank
Empresa
Company
Activo Lquido
Net Assets
(103 Meticais)
Passivo Total
Total Liabilities
(103 Meticais)
Activo Corrente
Current Assets
(103 Meticais)
Passivo Corrente
Current Liabilities
(103 Meticais)
2013
2012
2013
2012
%13/12
2013
2012
%13/12
2013
2012
%13/12
2013
2012
%13/12
1,301,993
1,169,333
11.34
350,077
249,131
40.52
959,261
843,074
13.78
783,544
582,272
34.57
Hoteis Polana, SA
1,160,301
1,184,827
(2.07)
166,549
163,141
2.09
1,025,325 1,078,974
(4.97)
454,950
317,334
43.37
957,759
989,381
(3.20)
168,601
175,482
(3.92)
391,720
471,612
(16.94)
190,494
137,121
38.92
462,384
444,963
3.92
265,673
254,847
4.25
256,349
298,471
(14.11)
256,349
298,471
(14.11)
38,500
36,023
6.88
38,500
32,900
17.02
21,894
25,919
(15.53)
21,843
25,822
(15.41)
93,711
34,931
168.27
56,674
9,119
521.49
65,038
31,593
105.86
16,173
11,119
45.45
17,172
15,545
10.47
16,277
14,463
12.54
1,275
115
1008.70
1,275
115
1008.70
n.a
Bazaruto, Lda
700,089
656,062
6.71
249,810
191,874
30.19
479,204
400,558
19.63
119,220
26,541
349.19
n.a
Chef Privado
90
50
80.00
90
50
80.00
150
130
15.38
150
130
15.38

Capitais Prprios
Shareholdersfunds
(103 Meticais)
Rank
Empresa
Company
Rent VN
Profits/Revenue
(%)
Rent. A. Liq.
Rent. Net Asset
(%)
Rent. C. P.
S/hs Funds
(%)
Liquidez Geral
Current Ratio
(%)
2013
2012
%13/12
2013
2012
2013
2012
2013
2012
2013
2012
2013
2012
342,732
326,260
5.05
3.31
5.57
1.27
2.28
4.92
8.53
0.45
0.43
134,975
105,853
27.51
Hoteis Polana, SA
6.43
(17.68)
2.51
(6.22)
24.18
(73.27)
0.37
0.51
566,039
517,768
9.32
0.06
(3.49)
0.02
(0.89)
0.03
(1.79)
0.89
1.28
206,035
146,491
40.65
24.92
23.10
12.88
13.65
33.78
52.29
1.04
0.85
16,606
10,104
64.35
17.34
15.82
17.18
18.89
49.54
45.62
1.76
1.27
28,673
3,338
758.99
16.29
22.76
4.80
16.24
28.08
1129.88
3.50
0.82
125.77
15,867
15,429
2.84
220,885
255,504
(13.55)
n.a
Bazaruto, Lda
60
20
200.00
n.a
Chef Privado
12.09
28.65
13.82
37.60
15.17
46.69
12.77
1,915.21
118.73
5.43
2.14
15.97
11.00
2.10
7.23
40.00
37.50
44.44
60.00
100.00
300.00
0.60
0.38
O comrcio entre pases pode ser analisado a partir de

dois pontos de vista. Em primeiro lugar, ele permite
que cada pas tenha acesso a um leque muito amplo
de bens e servios, satisfazendo as necessidades
diversificadas de seus cidados, sem perder as
vantagens da especializao produtiva. Em segundo
lugar, a possibilidade de vender seus produtos em
outros mercados, permite que os volumes de bens
produzidos em cada pas sejam muito maiores do que
seriam no caso de ficarem restritos aos mercados
internos, exclusivamente, sendo assim possvel
aproveitar os ganhos de eficincia conhecidos como
economias de escala.
Comrcio
Commerce
Por/By: Juliana Penicela
O comrcio a actividade scio-econmica que consiste na compra e na venda de bens, seja para usufruir dos
mesmos, vend-los ou transform-los.Trata-se da transaco de algo em troca de outra coisa de igual valor (podendo
ser dinheiro). Existem diversas classes de comrcio. Por exemplo, o comrcio a retalho que a actividade de
compra e venda de mercadorias cujo comprador o consumidor final (ou seja, a pessoa que usa ou consome o bem
em questo). O comrcio a grosso que a actividade de compra e venda em que o comprador no corresponde
ao consumidor final, uma vez que o seu objectivo voltar a vender (da o nome revenda) a mercadoria a outro
comerciante ou a uma empresa manufactureira que utilize a matria-prima para a transformar/processar.
Commerce is the socio-economic activity that consists of the purchase and sale of goods, whether to be used, sold on or
changed. It is the trading of something in exchange for something else of equal value (which can be money). There are various
types of trade, for example the retail trade which is the activity of buying and selling goods where the purchaser is the end
consumer (that is the person who uses or consumes the goods). Wholesale trade is the activity of buying and selling in which
the buyer is not the final consumer, their objective is to re-sell the goods to another trader or a manufacturing company that will
transform / process the raw material.
Tambm se pode fazer a diferena entre o comrcio
interno, que a actividade realizada por duas pessoas ou
empresas dentro de um mesmo pas (isto , que estejam
sujeitas mesma jurisdio), e o comrcio externo, que
levado a cabo entre pessoas que vivam em pases
diferentes. Do comrcio externo resultam as actividades
de exportao e importao.
O comrcio tem sido um poderoso motor de crescimento
para vrios pases, contribuindo para tirar milhes de
pessoas de situaes de pobreza.
Na medida em que os meios de comunicao e de
transporte iam-se aperfeioando, o sistema mundial
foi ficando mais interdependente e os pases foram
abandonando progressivamente as estratgias
orientadas para a auto-suficincia. O desenvolvimento
do comrcio possibilitou que cada nao se
especializasse naquelas produes em que apresentava
maior aptido, complementando, atravs do comrcio, o
leque de mercadorias que seus cidados necessitavam.
There is also a difference between internal trade which is the

activity carried out by two people or companies within the
same country (i.e. they are subject to the same jurisdiction)
and foreign trade which is conducted between people living
in different countries. Foreign trade results in export and
import activities.
Commerce has been a powerful growth driver for many
countries contributing to taking millions of people out of
poverty.
As means of communication and transport were improved
the global economic system became more interdependent
and countries progressively abandoned strategies oriented
towards self-sufficiency. The development of commerce
allows each nation to specialise production in the areas in
which it had most skills whilst through trade acquiring the
range of merchandise its citizens need.
The benefit of trade between countries can be described
in two ways. Firstly, it allows each country to have access
Na relao directa entre o comrcio e o desenvolvimento

necessrio destacar os acordos de parceria econmica,
que so instrumentos de desenvolvimento e devem
ser concebidos com a flexibilidade necessria para se
adaptarem s limitaes e capacidades de cada pas.
Segundo o relatrio do Banco de Moambique, no ano
de 2013, a conjuntura internacional foi marcada pela
recuperao gradual da economia mundial, justificada
pela retomada da actividade econmica nas economias
desenvolvidas, sustentada essencialmente pelos
seguintes factores: (i) incremento da procura interna
nos EUA no segundo semestre do ano, (ii) acelerao
do crescimento do PIB no Japo, e (iii) desacelerao
da recesso econmica na Zona Euro. Enquanto isso,
os principais mercados emergentes observaram um
abrandamento do crescimento econmico decorrente
de factores cclicos e estruturais, nomeadamente:
(i) o declnio dos preos dos principais produtos
de exportao nos mercados internacionais; (ii) a
desacelerao do crdito, aps uma rpida expanso
dos mercados financeiros, e; (iii) os constrangimentos
diversos na capacidade produtiva. (Relatrio Anual do
Banco de Moambique 2013 Volume 22)
Os pases da frica Sub-sahariana continuam a
experimentar nveis de crescimento econmico robusto,
contrariamente conjuntura internacional. Os pases
que integram a SADC registaram no geral um relativo
abrandamento econmico, influenciado em muito pela
desacelerao da economia sul-africana. (Relatrio
Anual do Banco de Moambique 2013- Volume 22)
Moambique continua sendo um destino privilegiado
de investimento directo estrangeiro, associado
explorao do carvo mineral e de hidrocarbonetos.
Com efeito, em 2013, a entrada lquida de capitais sob
a forma de investimento directo estrangeiro totalizou
USD 5,935 milhes de dlares, um crescimento em
15.8% quando comparado com igual perodo de 2012.
to a very wide range of goods and services, satisfying the

diverse needs of its citizens without losing the advantages of
production specialisation. Secondly, the possibility of selling
its products in other markets allows the volumes of goods
produced in each country to be much larger than would be
the case if restricted to the domestic market exclusively; this
makes it possible therefore to exploit the efficiency gains
known as economies of scale.
In the direct relationship between commerce and
development it is necessary to highlight economic
partnership agreements which are instruments for
development and must be designed with the necessary
flexibility to be adapted in relation to the capabilities and
limitations of each country.
According to the report from the Banco de Moambique, in
2013 the international situation was marked by the gradual
recovery of the world economy substantiated by the
resumption of economic activity in developed economies
which was essentially underpinned by the following
factors: (i) increase of domestic demand in the US in the
second half of the year, (ii) acceleration of GDP growth in
Japan, and (iii) deceleration of the economic recession in
the Euro zone. Meanwhile, the main emerging markets
observed a slowdown in economic growth due to cyclical
and structural factors in particular: (i) the decline in prices
in the international market for the main export products;
(ii) a slowdown in credit following a rapid expansion of
the financial markets, and; (iii) various constraints on
production capacity. (Annual report of the Banco de
Moambique 2013 Volume 22).
In contrast to the international situation Sub-Saharan African
countries continue to experience robust economic growth
levels. The countries that make up SADC registered a relative
economic slowdown influenced to a great degree by the
deceleration of the South African economy. (Annual report of
the Banco de Moambique 2013-Volume 22)
Mozambique remains a favoured destination for foreign
direct investment as a result of the exploration of coal and
hydrocarbons resources. Indeed in 2013 the net input of
capital in the form of foreign direct investment totaled USD
5,935 million, 15.8% growth compared with 2012. The high
investment levels in the country linked to the exploration of
non-renewable natural resources demand higher imports
of capital goods and various services. (Annual report of the
Banco de Moambique 2013-Volume 22)
In general there was a favourable economic performance
in 2013 in the following sectors: transport and
communications, commerce and services, and there
O elevado investimento que o pas est a captar para

a explorao de recursos naturais no renovveis
demanda maiores importaes de bens de capital e
de servios diversos. (Relatrio Anual do Banco de
Moambique 2013- Volume 22)
No geral, o desempenho da actividade econmica
em 2013 foi favorecido pelos seguintes sectores:
transportes e comunicaes, comrcio e servios,
e ainda pela recuperao do ramo de hotelaria e
turismo, que vinha registando quedas desde o final
de 2012, tendo a indstria extractiva continuado a ser
o ramo mais dinmico da economia com o volume de
produo a atingir nveis elevados, devido ao aumento
na produo do gs, carvo e outros minerais, tendo
ultrapassado a cifra dos 2.0% da produo global
da economia em 2013. (Relatrio Anual do Banco de
Moambique 2013 - Volume 22)
O sector de Comrcio contou com a participao de
trinta e duas (32) empresas, das quais vinte e cinco
(25) fazem parte do ranking das 100 Maiores Empresas
e quatro (4) so novas entradas em relao a edio
anterior. Neste sector, importa destacar a Malala
Investment Group, Lda nova participante em relao
a edio passada com uma taxa de crescimento de
volume de negcios de 209.89 %.
Os resultados da pesquisa apontam que este sector
registou um volume de negcios de MZN 60,067
milhes, dos quais MZN 59,418 milhes correspondem
ao volume de negcios das vinte e cinco (25) empresas
que constam no ranking das 100 Maiores.
Em termos de resultados lquidos, o sector apresentou
lucros de cerca de MZN 701.6 milhes, uma reduo de
28.44% em relao a 2012. A Total Moambique, SARL
lidera o sector com um lucro aproximado de MZN 227
Milhes, seguido pela Petrogal Moambique, Lda com
um lucro aproximado de MZN 132 Milhes e por fim a
Toyota de Moambique com cerca de MZN 127 milhes.
Em termos de liquidez geral, ou seja, a capacidade
das empresas satisfazerem os seus compromissos de
curto prazo, o destaque vai para a UNIVENDAS - Unio
de Compras e Vendas, SARL que teve uma taxa de
23.53%, seguida pela Construa, Lda com 17.38% e pela
Monomotapa Comercial, Lda com uma taxa de 5.70%.
O nmero de trabalhadores das empresas participantes
totaliza 5,260, dos quais cerca de 88.00% esto empregues
nas empresas que fazem parte do ranking das 100 Maiores
Empresas de Moambique. Em termos de volume de
negcios por trabalhador destacam-se as empresas
Globe Musica, Lda com MZN 121.3 milhes, seguida pela
Petromoc e Sasol, SA eTotal Moambique, Lda com MZN
94.6 milhes e MZN 71.8 milhes, respectivamente.
was also a recovery in the area of hospitality and tourism

which had been registering falls since the end of 2012. The
extractive industry continued to be the most dynamic sector
of the economy with the volume of production reaching high
levels due to the increase in the production of gas, coal and
other minerals which exceeded 2.0% of the global output
of the economy in 2013.(Annual report of the Banco de
Moambique 2013-Volume 22)
The construction sector achieved an above-average growth
in the last quarter of 2013 and recorded annual growth
of 11.3% making it the third most dynamic sector in the
national economy in 2013 behind the extractive industry and
transport and communications.
The Commerce sector, had the participation of 32
companies, 25 of which are part of the Top 100 ranking and 4
companies represent new entries compared to the previous
edition, prominence goes to the new participant company
Malala Investment Group, Lda compared to the last edition
with a growth rate of revenue of 209.89%
The survey results indicate that this sector recorded a
revenue of MZN 60,067 million, of which MZN 59,418 million
correspond to the revenue of 25 companies listed in the Top
100 Companies ranking.
In terms of net profits, the sector has registered a profit of
approximately MZN 701.6 million, a decrease of 28.44%
compared to 2012. Total Mozambique, SARL leads the sector
with an approximate profit of MZN 227 million, followed by
Petrogal Moambique, Lda with an approximate profit of 132
million MZN and lastly Toyota de Moambique with a profit of
approximately MZN 127 million.
In terms of overall liquidity, the ability of companies to
meet their short-term commitments, prominence goes
to UNIVENDAS - Unio de Compras e Vendas, SARL with
a rate of 23:53%, followed by Construa, Lda with 17.38%
and Monomotapa Comercial, Lda with a rate of 5.70%.
The number of employees of the participating companies
is represented by a total of 5,260, of which 88.00% are
employed in companies that are part of the Top 100 ranking.
In terms of revenues per employee, prominence goes to
Globe Musica, Lda with MZN 121.3 million, followed by
Petromoc e Sasol, SA and Total Moambique, Lda with MZN
94.6 and 71.8 million, respectively.

Rank

(103 Meticais)
Empresa
Company
N Trabalhadores
N of Employees
VN por Trabalhador
(103 Meticais)
%13/12
2013
2012
%13/12
2013
2012
%13/12
2013
2012
18,826,026
16,801,308
12.05
604
525
15.05
33,350
30,520
9.27
6,076,548
4,646,508
30.78
115
114
0.88
53,070
39,884
33.06
6,033,647
4,723,996
27.72
86
82
4.88
71,829
59,050
21.64
BP Moambique, Lda
5,986,465
5,824,766
2.78
150
150
0.00
39,910
40,310
(0.99)
3,026,391
2,609,342
15.98
36
28
28.57
94,575
94,885
(0.33)
Toyota de Moambique, SA
2,937,366
2,417,651
21.50
401
376
6.65
7,561
6,801
11.18
n.a
Globe Musica, Lda
2,425,746
2,865,570
(15.35)
22
18
22.22
121,287
318,397
(61.91)
Construa, Lda
1,736,554
1,542,872
12.55
518
475
9.05
3,498
3,535
(1.05)
Entreposto Comercial de Moambique, SARL
1,497,376
1,552,200
(3.53)
339
330
2.73
4,476
4,828
(7.28)
10
Gespetro, SARL
1,309,503
1,143,261
14.54
279
271
2.95
4,762
4,219
12.88
(1.89)
2013
2012
3
4
11
11
African Petroleum, Lda
1,211,762
916,017
32.29
64
56
14.29
20,196
20,585
12
10
Unicomo Moambique, Lda
1,093,426
977,416
11.87
112
103
8.74
10,171
8,612
18.11
13
14
Premier Group, Lda
1,052,802
692,969
51.93
603
566
6.54
1,801
1,634
10.21
14
15
1,045,921
631,461
65.64
177
173
2.31
5,977
3,671
62.80
15
12
Hariche Group, Lda
853,546
754,724
13.09
270
200
35.00
3,632
3,900
(6.88)
16
13
Ferro Moambique, Lda
791,529
695,508
13.81
30
25
20.00
28,783
28,980
(0.68)
17
16
Agrifocus, Lda.
648,000
538,000
20.45
65
75
(13.33)
9,257
7,173
29.05
18
18
Tropigalia, Lda
500,544
396,412
26.27
192
153
25.49
2,902
2,743
5.77
19
17
Mega - Distribuio de Moambique, SA
426,967
632,145
(32.46)
137
145
(5.52)
3,028
4,390
(31.02)
20
20
Somotor, SARL
384,218
357,997
7.32
103
102
0.98
3,748
3,672
2.09
21
22
Medis Farmaceutica, Lda
362,041
310,253
16.69
82
72
13.89
4,702
4,432
6.08
22
21
Dataserv, Lda
348,717
334,969
4.10
66
60
10.00
5,535
5,726
(3.33)
23
n.a
Malala Investment Group, Lda
312,928
100,981
209.89
20
118
(83.05)
4,535
1,712
164.98
24
19
Lalgy Truck Sales, Lda
272,181
365,369
(25.51)
63
64
(1.56)
4,286
6,894
(37.82)
25
23
Intermetal, SA
258,089
199,667
29.26
95
76
25.00
3,019
2,980
1.29
26
n.a
Escopil Internacional, Lda
220,743
106,768
106.75
201
195
3.08
1,115
1,095
1.81
27
24
A & L Enterprises, Lda
175,000
172,000
1.74
62
90
(31.11)
2,303
1,737
32.54
28
27
Empresa Estatal de Famcias - Farmac, E.E.
117,662
89,565
31.37
204
215
(5.12)
562
411
36.70
29
26
Monomotapa Comercial, Lda
96,888
91,175
6.27
30
29
3.45
3,284
3,315
(0.94)
30
30
UNIVENDAS - Unio de Compras e Vendas, SARL
31,814
26,717
19.08
117
102
14.71
291
234
23.97
31
32
Mediptica, Lda
5,906
6,064
(2.61)
10
11
(9.09)
562
551
2.03
32
n.a
Biriu Cpias
295
369
(20.12)
0.0
42
105
(60.06)

Rank
Empresa
Company
Custos Operacionais
Operating Cost
(103 Meticais)
Resultados Lquidos
Net Profits
(103 Meticais)

Income Before Taxes
(103 Meticais)
%13/12
2013
2012
%13/12
2013
2012
%13/12
2013
2012
18,064,351
15,832,569
14.10
(95,030)
(252,079)
62.30
(135,617)
(322,356)
57.93
5,830,286
4,388,201
32.86
132,486
124,096
6.76
232,341
178,117
30.44
5,511,148
4,161,912
32.42
226,853
348,219
(34.85)
405,362
511,159
(20.70)
BP Moambique, Lda
5,944,670
5,429,111
9.50
(112,847)
120,481
(193.66)
(123,478)
186,001
(166.39)
2013
2012
n.a
144,527
120,053
20.39
55,165
57,710
(4.41)
84,319
71,164
18.49
2,731,102
2,255,321
21.10
126,991
84,465
50.35
196,853
134,679
46.16
(2,423,410)
(2,872,371)
15.63
3,368
3,041
10.75
3,368
3,041
10.75
Construa, Lda
1,610,476
1,375,612
17.07
76,656
109,277
(29.85)
126,077
167,260
(24.62)
Globe Musica, Lda
1,439,554
1,518,842
(5.22)
43,684
54,915
(20.45)
59,498
87,492
(32.00)
10
Gespetro, SARL
1,214,654
1,067,158
13.82
9,161
8,769
4.47
14,102
14,176
(0.52)
11
11
1,206,731
881,387
36.91
18,747
12,800
46.46
27,570
15,897
73.43
12
10
1,077,070
963,092
11.83
10,063
9,297
8.24
14,798
13,946
6.11
13
14
Premier Group, Lda
956,679
685,201
39.62
8,542
3,403
151.01
12,610
7,768
62.33
14
15
1,023,900
641,233
59.68
13,918
16,063
(13.35)
26,749
18,347
45.79
15
12
Hariche Group, Lda
816,600
726,554
12.39
13,280
12,885
3.07
14,697
14,799
(0.69)
16
13
733,811
655,416
11.96
14,839
13,284
11.71
30,711
30,330
1.26
17
16
Agrifocus, Lda.
556,000
451,000
23.28
64,000
65,000
(1.54)
98,000
99,000
(1.01)
18
18
Tropigalia, Lda
461,647
366,195
26.07
7,381
3,135
135.44
13,881
9,839
41.08
19
17
429,447
520,472
(17.49)
(7,456)
100,538
(107.42)
(7,456)
100,538
(107.42)
20
20
Somotor, SARL
332,575
321,023
3.60
27,542
25,262
9.02
40,112
35,580
12.74
21
22
314,897
285,815
10.18
6,578
7,165
(8.19)
14,034
11,959
17.35
22
21
Dataserv, Lda
326,628
312,175
4.63
14,834
10,308
43.91
22,404
15,283
46.59
23
n.a
(311,777)
(100,631)
(209.82)
424
350
21.14
424
350
21.14
24
19
206,242
323,057
(36.16)
14,415
16,823
(14.31)
20,878
33,293
(37.29)
25
23
Intermetal, SA
223,942
174,410
28.40
23,596
15,367
53.55
34,700
22,598
53.55
26
n.a
230,147
63,871
260.33
3,326
16,666
(80.04)
4,892
24,509
(80.04)
27
24
172,000
158,000
8.86
1,000
3,000
(66.67)
3,000
4,000
(25.00)
28
27
36,896
38,738
(4.76)
48
(4,826)
100.99
71
(4,826)
101.47
29
26
97,189
90,762
7.08
(301)
(281)
(7.30)
(301)
(413)
27.04
30
30
34,435
32,902
4.66
138
(4,757)
102.90
138
(4,757)
102.90
31
32
Mediptica, Lda
5,450
5,620
(3.02)
247
192
28.65
456
444
2.70
32
n.a
Biriu Cpias
n.d
n.d
n.d
n.d
n.d
n.d
Rank
2013
Empresa
Company
2012
Activo Lquido
Net Assets
(103 Meticais)
2013
2012
%13/12
Activo Corrente
Current Assets
(103 Meticais)
2013
2012
%13/12
Passivo Total
Passivo Corrente
The sixteenth
edio
/ 95
Totaledition
Liabilities / A dcima sexta
Current
Liabilities
(103 Meticais)
2013
2012
%13/12
(103 Meticais)
2013
2012
%13/12
28
27
36,896
38,738
(4.76)
48
(4,826)
100.99
71
(4,826)
29
26
97,189
90,762
7.08
(301)
(281)
(7.30)
(301)
(413)
27.04
30
30
34,435
32,902
4.66
138
(4,757)
102.90
138
(4,757)
102.90
31
32
Mediptica, Lda
5,450
5,620
(3.02)
247
192
28.65
456
444
2.70
32
n.a
Biriu Cpias
n.d
n.d
n.d
n.d
n.d
n.d
101.47

Rank
Empresa
Company
Activo Lquido
Net Assets
(103 Meticais)
Activo Corrente
Current Assets
(103 Meticais)
Passivo Total
Total Liabilities
(103 Meticais)
Passivo Corrente
Current Liabilities
(103 Meticais)
2013
2012
%13/12
2013
2012
%13/12
2013
2012
%13/12
2013
2012
%13/12
15,400,283
12,267,660
25.54
8,800,230
6,628,561
32.76
13,875,016
10,647,363
30.31
11,208,554
8,892,498
26.05
2,619,660
1,827,560
43.34
2,108,907
1,335,927
57.86
1,772,004
1,112,389
59.30
1,772,004
1,112,389
59.30
3,034,772
3,087,913
(1.72)
1,348,993
1,415,651
(4.71)
1,715,176
1,664,362
3.05
1,700,404
1,334,399
27.43
BP Moambique, Lda
4,129,910
3,938,809
4.85
2,323,111
2,386,146
(2.64)
1,713,794
1,428,011
20.01
1,713,794
1,428,011
20.01
1,275,548
873,970
45.95
1,076,169
675,928
59.21
943,682
597,269
58.00
927,763
570,466
62.63
2,303,609
2,185,715
5.39
1,456,420
1,640,258
(11.21)
1,686,932
1,778,036
(5.12)
1,437,916
1,614,747
(10.95)
n.a
39,236
28,351
38.39
37,404
26,282
42.32
32,519
23,924
35.93
32,519
23,924
35.93
Construa, Lda
1,146,544
1,093,880
4.81
605,059
574,422
5.33
151,339
175,332
(13.68)
34,815
141,319
(75.36)
5.03
2013
2012
Globe Musica, Lda
2,855,524
2,791,309
2.30
1,325,419
1,355,585
(2.23)
2,005,711
1,947,795
2.97
1,596,956
1,520,470
10
Gespetro, SARL
201,628
197,250
2.22
138,066
135,272
2.07
158,868
156,774
1.34
123,069
112,953
8.96
11
11
310,987
151,005
105.94
40,901
28,719
42.42
213,267
75,658
181.88
168,654
64,707
160.64
12
10
551,696
409,103
34.86
511,815
368,686
38.82
466,846
334,317
39.64
466,846
334,317
39.64
13
14
Premier Group, Lda
927,748
766,778
20.99
442,176
337,804
30.90
893,954
753,260
18.68
893,954
753,260
18.68
14
15
425,051
209,302
103.08
214,778
198,482
8.21
324,163
120,046
170.03
324,163
120,046
170.03
15
12
Hariche Group, Lda
666,005
449,467
48.18
290,302
203,807
42.44
478,504
336,291
42.29
344,046
248,949
38.20
16
13
760,411
519,389
46.40
590,125
364,554
61.88
494,864
262,465
88.54
452,779
215,084
110.51
596,000
486,000
22.63
559,000
447,000
25.06
211,000
164,000
28.66
211,000
163,000
29.45
178,084
278,309
178,084
56.28
212,429
119,584
77.64
199,489
106,070
88.07
17
16
Agrifocus, Lda.
18
18
Tropigalia, Lda
19
17
462,284
448,978
2.96
367,778
393,876
(6.63)
125,439
104,478
20.06
125,439
104,478
20.06
20
20
Somotor, SARL
265,404
310,254
(14.46)
224,268
285,001
(21.31)
181,423
247,499
(26.70)
181,341
246,904
(26.55)
21
22
249,766
215,527
15.89
204,805
186,570
9.77
210,294
182,633
15.15
210,294
172,628
21.82
22
21
Dataserv, Lda
175,263
137,227
27.72
155,206
116,752
32.94
132,140
95,938
37.73
131,534
94,717
38.87
23
n.a
16,441
5,705
188.19
14,754
5,449
170.77
16,595
6,283
164.13
16,595
6,283
164.13
24
19
288,946
265,757
8.73
280,637
257,380
9.04
178,950
170,177
5.16
178,950
170,177
5.16
25
23
Intermetal, SA
145,892
114,354
27.58
123,530
93,777
31.73
55,126
41,206
33.78
34,887
36,423
(4.22)
26
n.a
111,496
94,004
18.61
49,599
63,867
(22.34)
116,795
102,628
13.80
116,795
102,628
13.80
27
24
131,000
28,000
367.86
105,000
18,000
483.33
119,000
20,000
495.00
118,000
20,000
490.00
28
27
76,640
70,876
8.13
31,070
24,063
29.12
71,407
65,691
8.70
33,684
38,770
(13.12)
29
26
66,323
55,483
19.54
60,157
47,642
26.27
66,155
54,804
20.71
10,557
11,194
(5.69)
30
30
44,590
40,528
10.02
33,108
29,003
14.15
9,032
5,109
76.79
1,407
1,596
(11.84)
31
32
Mediptica, Lda
5,373
4,437
21.10
5,373
4,437
21.10
1,200
510
135.29
1,200
510
135.29
32
n.a
Biriu Cpias
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
CM

Capitais Prprios
Shareholdersfunds
(103 Meticais)
MY
Rank
Empresa
Company
2013
2012
%13/12
2013
2012
1,525,267
1,620,297
(5.86)
PPETROMOC - Petrleos de Moambique, SA
Rent VN
Profits/Revenue
(%)
Rent. A. Liq.
Rent. Net Asset
(%)
Rent. C. P.
S/hs Funds
(%)
Liquidez Geral
Current Ratio
(%)
2013
2012
2013
2012
2013
2012
2013
2012
(0.50)
(1.50)
(0.62)
(2.05)
(6.04)
(14.38)
0.79
0.75
847,656
715,171
18.52
2.18
2.67
5.06
6.79
16.95
17.87
1.19
1.20
1,319,596
1,423,551
(7.30)
3.76
7.37
7.48
11.28
16.54
24.29
0.79
1.06
2,293,422
2,406,269
(4.69)
BP Moambique, Lda
(1.89)
2.07
(2.73)
3.06
(4.80)
5.14
1.36
1.67
331,867
276,702
19.94
1.82
2.21
4.32
6.60
18.13
27.17
1.16
1.18
616,677
407,679
51.27
4.32
3.49
5.51
3.86
24.79
21.06
1.01
1.02
6,718
4,427
51.75
n.a
Globe Musica, Lda
0.14
0.11
8.58
10.73
60.44
137.38
1.15
1.10
995,204
918,548
8.35
Construa, Lda
4.41
7.08
6.69
9.99
8.01
12.65
17.38
4.06
849,813
843,513
0.75
2.92
3.54
1.53
1.97
5.16
7.11
0.83
0.89
42,760
40,476
5.64
10
Gespetro, SARL
0.70
0.77
4.54
4.45
22.01
22.45
1.12
1.20
97,720
75,347
29.69
11
11
1.55
1.40
6.03
8.48
21.66
18.74
0.24
0.44
84,850
74,787
13.46
12
10
0.92
0.95
1.82
2.27
12.61
13.26
1.10
1.10
87,794
13,514
549.65
13
14
Premier Group, Lda
0.81
0.49
0.92
0.44
16.86
28.80
0.49
0.45
100,888
89,256
13.03
14
15
1.33
2.54
3.27
7.67
14.64
20.06
0.66
1.65
187,502
113,176
65.67
15
12
Hariche Group, Lda
1.56
1.71
1.99
2.87
8.83
16.04
0.84
0.82
265,547
256,924
3.36
16
13
1.87
1.91
1.95
2.56
5.68
5.43
1.30
1.69
385,000
321,000
19.94
17
16
Agrifocus, Lda.
9.88
12.08
10.74
13.37
18.13
22.38
2.65
2.74
65,880
58,499
12.62
18
18
Tropigalia, Lda
337,045
344,501
(2.16)
19
17
83,981
62,754
33.83
20
20
Somotor, SARL
39,472
32,895
19.99
21
22
43,124
41,289
4.44
22
21
Dataserv, Lda
(153)
(577)
73.48
23
n.a
109,996
95,580
15.08
24
19
90,767
73,148
24.09
25
23
(5,299)
(8,624)
38.56
26
n.a
12,000
8,000
50.00
27
24
5,233
5,185
0.93
28
168
679
(75.27)
35,558
35,420
4,173
n.d
1.47
0.79
1.76
11.87
5.56
1.40
1.68
(1.75)
15.90
(1.61)
22.39
(2.19)
34.10
2.93
3.77
7.17
7.06
10.38
8.14
37.54
47.20
1.24
1.15
1.82
2.31
2.63
3.32
18.18
24.45
0.97
1.08
4.25
3.08
8.46
7.51
35.15
23.62
1.18
1.23
0.14
0.35
2.58
6.13
(116.16)
(121.32)
0.89
0.87
5.30
4.60
4.99
6.33
14.02
19.95
1.57
1.51
Intermetal, SA
9.14
7.70
16.17
13.44
28.79
23.47
3.54
2.57
1.51
15.61
2.98
17.73
(47.78)
(386.50)
0.42
0.62
0.57
1.74
0.76
10.71
10.00
50.00
0.89
0.90
27
0.04
(5.39)
0.06
(6.81)
0.92
(63.52)
0.92
0.62
29
26
(0.31)
(0.31)
(0.45)
(0.51)
(71.06)
(52.04)
5.70
4.26
0.39
30
30
0.43
(17.81)
0.31
(11.74)
0.39
(12.43)
23.53
18.17
3,927
6.26
31
32
Mediptica, Lda
4.18
3.17
4.60
4.33
6.10
5.01
4.48
8.70
n.d
32
n.a
Biriu Cpias
CY
CMY
Comunicaes
Communications
Por/By: Iolanda Cal
Nos tempos que correm, recolher, processar e divulgar informao, j no mais tarefa exclusiva
de um rgo de informao ou profissional de comunicao, pois qualquer individuo, dotado de
tecnologia, desde a mais simples como telemvel ou computador, pode atravs da internet, e nas
redes sociais disseminar informaes, sem quaisquer restries.
The collection, processing and dissemination of information currently is no longer the exclusive task of
the media or communication professionals, because any individual equipped with technology, as basic
as a cell phone or computer can, via the internet and social networks, disseminate information without
any restrictions.
So vastas as actividades que tem sido feitas
no domnio da comunicao e da informao,
salientando-se no entanto a promoo do acesso
universal s tecnologias da informao e de
comunicao (TIC) atravs de aces destinadas a
autonomizar os indivduos de forma a poderem no
s aceder informao mas tambm contribuir para o
fluxo de informao e de conhecimento. (Tecnologias
de Informao pt.wikipedia.org/wiki, pagina visitada
no dia 20/10/14)
frica est rapidamente a tornar-se um lder das TICs,
as inovaes que aqui comearam como por exemplo
o carto SIM para telemveis, ou o uso de telemveis
para remessa de pagamentos esto agora a propagarse por todo o continente e mais alm. No futuro, o
desafio est em assegurar que as inovaes nas TIC
beneficiem todos os africanos, incluindo os mais
desfavorecidos, vulnerveis e aqueles que vivem em
zonas remotas. (www.unescoporttugal.m/pt/a-anu/
seto Comisso Nacional da Unesco Ministrio dos
Negcios Estrangeiros, pagina visitada a 17/10/14)
Ao nvel de frica, o crescimento do sector de
comunicaes mais visvel em Angola, com cerca de
76% do total de utilizadores mveis, sendo que para
There is a wide range of activities carried out within

the field of information and communication, the most
significant however is the promotion of universal
access to information and communication technologies
(ICT) in order to empower individuals so that they can
not only access information but can also contribute to
the flow of information and knowledge. (Tecnologias de
Informao pt.wikipedia.org/wiki, 20/10/14)
Africa is fast becoming a leader in ICT, the innovations
that began here such as the SIM card for mobile phones
or the use of mobile phones to make payments have
now spread throughout the continent and beyond.
For the future, the challenge is to ensure that ICT
innovations benefit all Africans including the most
disadvantaged and vulnerable and those that live in
remote areas. (in www.unescoporttugal.m/pt/a-anu/
seto, Comisso Nacional da Unesco Ministrio dos
Negcios Estrangeiros, 17/10/14)
In Africa, communications sector growth is most
visible in Angola with around 76% of people using a
mobile phone and only 10% using fixed landlines. The
forecast is that by 2017 there will be further growth
telefonia fixa temos 10%. A previso que em 2017

a taxa de crescimento seja de 5.7%, atingindo assim
12.7 milhes de utilizadores. (http://www.menosfios.
com/2013/11, Especial Reunidas as maiores Empresas
de Telecomunicaes em Angola Telecom Forum 2013,
publicado em 1/11/13, pagina visitada a 17/10/14)
of 5.7% bringing the total number of mobile phone

users to 12.7 million. (in http://www.menosfios.
publicado em 1/11/13, 17/10/14)
Em termos econmicos, as comunicaes constituem

o segmento mais importante do sector das Tecnologias
de Informao e Comunicao (TIC), que abrange
tambm as indstrias de hardware e de software
e ainda outros servios de TIC. Hoje em dia
reconhecido o contributo fundamental da difuso das
TIC para o crescimento da produtividade at noutros
sectores da economia. (Enquadramento do sector
das comunicaes, http://anacom.pt/mobile, Futuro
das Telecomunicaes em frica e no Mundo, pagina
visitada 20/10/14)
In economic terms, communications constitute the

most important segment of the information and
communication technologies (ICT) sector which also
covers the hardware and software industries and other
ICT services. Nowadays the vital contribution of ICT
diffusion for growth in productivity in other sectors of
the economy is recognised. (in http://www.menosfios.
publicado em 1/11/13, pagina visitada a 17/10/14).
Ao nvel da Europa, aps alguns anos de crise, as

condies actuais parecem adequadas para que o
sector volte a apresentar taxas mais elevadas de
crescimento, nomeadamente a melhoria das condies
financeiras das operadoras, aliada ao crescimento
contnuo das receitas dos servios, de acordo
com a Comunicao da Comisso ao Conselho. A
democratizao da comunicao e informao, aliada
a incluso digital, pode se tornar um macro dessa
civilizao. Contudo, necessrio que se diferencie
informao de conhecimento. (Enquadramento do
sector das comunicaes, http://anacom.pt/mobile,
Futuro das Telecomunicaes em frica e no Mundo,
pagina visitada 20/10/14)
After several years of crisis in Europe, according to a

communication from the Commission to the Council,
current conditions, namely the improvement of
operators financial conditions coupled with continued
growth in revenue from services, will allow the sector
to return to higher growth rates. The democratisation
of information and communication combined with
digital inclusion can become a macro of civilization;
it is necessary, however, to differentiate information
from knowledge. (Enquadramento do sector das
comunicaes, in http://anacom.pt/mobile, Futuro
das Telecomunicaes em frica e no Mundo, pagina
visitada 20/10/14)
Em Moambique, nos ltimos anos, o sector de

Comunicao tem crescido de forma satisfatria,
inclusive est prevista a expanso dos servios de
Telecomunicao para 50 localidades. Este crescimento
visvel em quantidade e qualidade, tendo o mercado
actualmente mais jornais, rdios, canais de televiso
desde os clssicos at aos modernos. Por outro
lado, os recursos tecnolgicos impulsionaram o
crescimento vertiginoso destes meios de tal forma que
criar polticas que regulem o funcionamento dessas
novas formas de veicular a informao torna-se um
imperativo bastante desafiador. (BDPES Balano do
Plano Econmico e Social de 2013)
In recent years in Mozambique the communications

sector has grown at a satisfactorily, including the
expansion of Telecommunication services to 50
locations. This growth is visible in quantity and quality,
with more newspapers, radio and television channels
from the classics to the modern available in the market.
The rapid speed of growth driven by technological
resources has made the creation of policies to govern
the operation of these new ways of relaying information
a challenging imperative. (BDPES Balano do Plano
Econmico e Social de 2013)
Durante o exerccio econmico de 2013, o sector de

comunicaes registou um crescimento de cerca de
28.5% resultante da maior diversificao de servios
e marketing em particular, na rede mvel. No que
concerne aos servios postais, este registou um
crescimento de cerca de 29.0%. Este crescimento
deveu-se a maiores investimentos realizados na rea
postal e no aumento de encomendas de servios de
correio. (BDPES Balano do Plano Econmico e
Social de 2013)
During the 2013 fiscal year the communications sector

recorded growth of around 28.5% resulting from the
greater diversification of services and marketing in
particular relating to the mobile network. With regard
to postal services growth of approximately 29.0%
was recorded; this growth was mainly due to more
investment in postal services and an increase in mail
service orders. (BDPES Balano do Plano Econmico
e Social de 2013)
No que concerne a rede de telefonia mvel, existem

actualmente em Moambique trs operadoras a mCel,
Vodacom e Movitel, esta ltima que acaba de ser
premiada em Londres (Reino Unido) por apostar em
servios inovadores no campo das telecomunicaes.
A esta empresa coube ainda o reconhecimento
pela excelncia a nvel internacional, num grupo de
gigantes, que envolveu concorrentes de vrios pases
do mundo onde fez dela a primeira operadora em
frica a vencer sequencialmente em trs anos prmios
de prestgio. O primeiro foi atribudo pela AfricaCom
Awards, reconhecimento em 2012 na categoria Melhor
Operadora com solues para zonas rurais, e em 2013
pela consultora e pesquisadora norte-americana Frost
and Sulivan, o prmio de Operadora com Melhor
Estratgia de Liderana Competitiva. (http://nandiiwe.
blogspot.com/2014/7/movitel, melhor operadora a nivel
html. movitel.co.mz notcias)
Na presente edio das 100 Maiores Empresas de
Moambique, o sector de Comunicaes contou com
a participao de 8 empresas. Destas, 4 empresas
constam do ranking das 100 Maiores de Moambique.
A mCel - Moambique Celular, SA continua a liderar
este sector, tendo na presente edio atingido um
volume de negcios de cerca de MZN 8,193 milhes,
um decrscimo de cerca de 9.11% comparativamente a
2012. No total, este sector teve um volume de negcios
de MZN 12,891 milhes, um decrscimo de 5.84 % em
relao a 2012.
lucros na ordem de MZN 386 milhes, um decrscimo
de 60.77% em relao a 2012. Esta queda dos
resultados lquidos teve como resultado o facto de
todas empresas terem registado quedas nos seus
resultados em relao a edio anterior, exceptuando
a Rede Comunicao Miramar, Lda que apresentou
resultados lquidos de MZN 30.6 milhes (um
crescimento de 597.11%).
Em termos de emprego, o destaque vai para a
Telecomunicaes de Moambique, SA, que empregou
um total de 1,524 trabalhadores, seguida pela mCel
- Moambique Celular, SA com 856 trabalhadores.
With regard to the mobile telephone network there

are currently three operators in Mozambique, mCel,
Vodacom and Movitel; the latter has recently been given
an award in London (United Kingdom) for developing
innovative services in the field of telecommunications.
This company also received recognition for excellence
at the international level, in competition with significant
players from various countries of the world Movitel
became the first operator in Africa to win prestigious
awards for three years running. The first in the category
Rural Telecoms was assigned by AfricaCom Awards
in 2012 and in 2013 they received an award from the
American research and consultant company Frost and
Sullivan for the best competitive leadership strategy. (in
http://nandiiwe.blogspot.com/2014/7/movitel, melhor
operadora a nivel html,.movitel.co.mz notcias)
In this edition of the Top 100 Companies in
Mozambique, the Communications sector is
represented by the participation of 8 companies. Of
these, 4 companies are listed in the Top 100 ranking of
Mozambique.
The sector is led by mCel - Moambique Celular, SA,
having reached a revenue of approximately MZN 8,193
million, a decrease of approximately 9.11% compared to
2012. In total, this sector had a revenue of MZN 12,891
million, a decrease of 5.84% compared to 2012.
In terms of net earnings, the sector had profits of
approximately MZN 386 million, a decrease of 60.77%
compared to 2012. This decrease in net income
resulted in the fact that all companies have registered
losses in their revenues, with the exception of Rede
Comunicao Miramar, Lda which showed net income
of MZN 30.6 million (an increase of 597.11%).
In terms of employment, prominence goes to
Telecomunicaes de Moambique, SA, which
employed a total of 1,524 employees, followed by
mCel - Moambique Celular, SA with 856 employees.
O sector, como um todo, empregou cerca de 2,958

trabalhadores, dos quais 90.06% esto alocados s
empresas que constam do ranking das 100 Maiores
Empresas de Moambique.
The sector as a whole, employed approximately

2,958 employees, of which 90.06% are allocated to
the companies listed in the Top 100 Companies in
Mozambique.
A mCel - Moambique Celular, SA, e LTM - Listas

Telefnicas de Moambique, Lda destacam-se como
sendo as empresas com os maiores volume de
negcios por trabalhador com aproximadamente MZN
10 milhes e MZN 5 milhes, respectivamente.
Prominence goes to mCel - Moambique Celular, SA,

and LTM - Listas Telefnicas de Moambique, Lda being
the companies with the highest revenue per worker of
approximately MZN 10 and MZN 5 million MZN, respectively.

Rank
Empresa
Rank
Empresa
Company e Trabalhadores / Revenue and Employees

2012
2013
Volume
de Negcios
mCel - Moambique Celular, SA
1
1
Empresa
2013
2012
Volume
e Trabalhadores
Telecomunicaes
de Moambique, SA / Revenue and
2 de Negcios
2
Company
1
1
TV
Cabo - Comunicao Multimdia, Lda
Rank
Empresa
3
3
Telecomunicaes
de Moambique, SA
Company
2
2
2012
2013
Teledata
de Moambique, Lda
4
4
TV
Cabo
- Comunicao
Multimdia,
Lda
3
3
mCel
Moambique
Celular,
SA
1
1
LTM
- -Listas
Telefnicas
de Moambique,
Lda
n.a
5
2012
2013
Teledata
de Moambique,
Lda
4
4
Telecomunicaes
de Moambique,
2
2
Rede
de Comunicaao
Miramar, Lda SA
7
6
1
1
LTM
- Listas
Telefnicas de
Moambique,
Lda
5
n.a
TV Cabo
- Comunicao
Multimdia,
LdaLda
3
3
TVSD
- Telecomunicaes
e Electrnica,
6
7
Telecomunicaes de Moambique, SA
2
2
Rede
de de
Comunicaao
Miramar,
Lda
6
7
Teledata
Moambique,
Ldae Sistemas,
4
4
Telescan
- Telecomunicaes
Lda
8
8
TV Cabo - Comunicao Multimdia, Lda
3
3
TVSD
- Telecomunicaes
Electrnica, Lda
7
6
LTM - Listas
Telefnicas deeMoambique,
Lda
n.a
5
Teledata de Moambique, Lda
4
4
Telescan
- Telecomunicaes
e Sistemas,
Lda
8
8
Rede de Comunicaao
Miramar,
Lda
7
6
LTM - Listas Telefnicas de Moambique, Lda
n.a
5
TVSD - Telecomunicaes
e Electrnica,
Ldaand Profit
6e Rentabilidade
7
Custos
/ Operating
Cost
Rede de Comunicaao Miramar, Lda
7
6
Telescan - Telecomunicaes e Sistemas, Lda
8
8
Rank
Empresa
e Electrnica,
Ldaand Profit
6e Rentabilidade
7
Custos
/ Operating
Cost
Rank
Rank
Employees
Company
Empresa
Company
2012
2013
Custos
e Rentabilidade

1
1
Empresa
Custos
e Rentabilidade
/ de
Operating
2013
2012
Telecomunicaes
Moambique,Cost
SA and
2
2
Company
1
1
TV
Rank
Empresa
3
3
Telecomunicaes
de Moambique, SA
Company
2
2
2013
2012
Teledata
de Moambique, Lda
4
4
TV Cabo
- Comunicao
Multimdia,
Lda
3
3
mCel
Moambique
Celular,
SA
1
1
LTM
- -Listas
Telefnicas
de Moambique,
Lda
n.a
5
2013
2012
Teledata de Moambique,
Lda
4
4
Telecomunicaes
de Moambique,
2
2
Rede
de Comunicaao
Miramar, Lda SA
7
6
1
1
LTM
- Listas
Telefnicas de
Moambique,
Lda
5
n.a
TV
Cabo
- Comunicao
Multimdia,
LdaLda
3
3
TVSD
- Telecomunicaes
e Electrnica,
6
7
2
2
Rede de de
Comunicaao
Miramar,
Lda
6
7
Teledata
Moambique,
Ldae Sistemas,
4
4
Telescan
- Telecomunicaes
Lda
8
8
3
3
TVSD
- Telecomunicaes
Electrnica, Lda
7
6
LTM - Listas
Lda
5
n.a
4
4
Telescan
- Telecomunicaes
e Sistemas,
Lda
8
8
Rede
de Comunicaao
Miramar,
Lda
6
7
LTM
Listas
Telefnicas
de
Moambique,
Lda
n.a
5
e Electrnica, Lda
Balano
Sheet
7
6 / Balance
7
6
Telescan
- Telecomunicaes e Sistemas, Lda
8
8
Rank
Empresa
e Electrnica, Lda
6 / Balance
7
Balano
Sheet
8
2013
Profit
Empresa
Company
2013
2012/ Balance
Balano
Sheet
2013

14,690,252
1
1
Empresa
2013
2013
2012/ Balance
Balano
Sheet de Moambique, SA
Telecomunicaes
12,570,842
2
2
Company
14,690,252
1
1
TV
Rank
Empresa
1,078,281
3
3
Telecomunicaes
de Moambique, SA
Company
12,570,842
2
2
2013
2013
2012
Teledata
de Moambique, Lda
260,495
4
4
TV Cabo
- Comunicao
Multimdia,
Lda
1,078,281
3
3
mCel
Moambique
Celular,
SA
14,690,252
1
1
LTM - -Listas
Telefnicas
de Moambique,
Lda
484,244
5
n.a
2013
2013
2012
Teledata de Moambique,
Lda
260,495
4
4
Telecomunicaes
de Moambique,
12,570,842
2
2
Rede de Comunicaao
Miramar, Lda SA
96,817
6
7
14,690,252
1
1
LTM
- Listas
Telefnicas de
Moambique,
Lda
484,244
5
n.a
TV
Cabo
Comunicao
Multimdia,
Lda
1,078,281
3
3
TVSD
Telecomunicaes
e
Electrnica,
Lda
118,011
7
6
12,570,842
2
2
Rede de Comunicaao
Miramar,
Lda
96,817
6
7
Teledata
Moambique,
Ldae Sistemas,
260,495
4
4
Telescan de
- Telecomunicaes
Lda
52,307
8
8
1,078,281
3
3
TVSD
Telecomunicaes
e
Electrnica,
Lda
118,011
7
6
484,244
5
n.a
260,495
4
4
Telescan
- Telecomunicaes
e Sistemas,
Lda
52,307
8
8
Rede
de Comunicaao
Miramar,
Lda
96,817
6
7
484,244
5
n.a
e Electrnica, LdaIndicadores / Ratios
/ Balance
Sheet
118,011
7 Balano
6
96,817
6
7
52,307
8
8
Capitais Prprios
Rank
Empresa
e Electrnica, LdaIndicadores / Ratios
118,011
7 Balano
6
/ Balance
Sheet
Rank
Shareholdersfunds
5,1972013
,695
64,818
105,512
5,285,030
169,353
2013
64,818
5,197
,695
(16,853)
5,285,030
169,353
105,512
638,369
5,197,695
(16,853)
64,818
23,080
105,512
638,369
169,353
64,818
23,080
(16,853)
169,353
638,369
(16,853)
23,080
638,369
23,080
Company
3
Telescan -(10
Telecomunicaes
Meticais) e Sistemas, Lda
Capitais Prprios
Shareholdersfunds
2013 / Balance
2012
Balano
Sheet%13/12
(103 Meticais)
5,285,030
5,243,983
0.78
Capitais Prprios
Balano
Sheet%13/12
2013 / Balance
2012
5,197,695
5,160,927
0.71
Shareholdersfunds
3
0.78
5,285,030
5,243,983
(10 Meticais)
Capitais
Prprios
105,512
121,059
(12.84)
Shareholdersfunds
0.71
5,160,927
2012
%13/12
71,950
(9.91)
(103 Meticais)
(12.84)
121,059
5,243,983
0.78
171,172
(1.06)
2012
%13/12
71,950
(9.91)
5,160,927
0.71
(47,460)
64.49
5,243,983
0.78
171,172
(1.06)
121,059
(12.84)
5,122 12,363.27
5,160,927
0.71
(47
,460)
64.49
71,950
(9.91)
23,838
(3.18)
121,059
(12.84)
5,122 12,363.27
171,172
(1.06)
71,950
(9.91)
23,838
(3.18)
(47
,460)
64.49
171,172
(1.06)
5,122 12,363.27
(47,460)
64.49
23,838
(3.18)
5,122 12,363.27
23,838
(3.18)
8,192,669
2013
3,140,772
8,192,669
662,931
3,140,772
2872013
,355
662,931
8,192,669
236,968
2013
287,355
3,140,772
179,704
8,192,669
236,968
662,931
166,688
3,140,772
179,704
287
,355
23,458
662,931
166,688
236,968
287,355
23,458
179,704
236,968
166,688
179,704
23,458
166,688
52,307
Rank
2013
2012
Indicadores

2012(103 Meticais)
%13/12
9,014,153
9,014,153
(9.11)
Vol.
de Neg. / Revenues
532,504
24.49
3
3,239,631
(3.05)
2012(10 Meticais)
%13/12
299,561
(4.07)
532,504
24.49
(9.11)
9,014,153
227,284
4.26
%13/12
2012
299,561
(4.07)
3,239,631
(3.05)
139,263
29.04
(9.11)
9,014,153
227,284
4.26
532,504
24.49
185,077
(9.94)
(3.05)
3,239,631
139,263
29.04
(4.07)
299,561
51,850
(54.76)
24.49
532,504
185,077
(9.94)
227,284
4.26
(4.07)
299,561
51,850
(54.76)
139,263
29.04
4.26
227,284
185,077
(9.94)
29.04
139,263
51,850
(54.76)
Custos Operacionais
(9.94)
185,077
Operating Cost
(54.76)
Custos Operacionais
Operating
Cost
2012
%13/12
(103 Meticais)
7,674,207
(0.45)
Custos Operacionais
2012
%13/12
3,064,622
Operating 13.64
Cost
3
7
,674,207(10
(0.45)
Meticais)
Custos
463,107Operacionais
42.95
Empresa
/Company
Ratios
766,326
12,571,621
461,679
2012
255,640
11,088,572
71,290
12,571,621
461,679
766,326
76,582
11,088,572
71,290
255,640
69,861
766,326
76,582
461,679
255,640
69,861
71,290
461,679
76,582
71,290
69,861
76,582
40.71
16.85
4.89
%13/12
1.90
13.37
35.81
16.85
4.89
40.71
54.10
13.37
35.81
1.90
(25.13)
40.71
54.10
4.89
1.90
(25.13)
35.81
4.89
54.10
35.81
(25.13)
54.10
134,383
3,065,244
453,573
2013
175,697
4,497
,821
74,046
3,065,244
453,573
134,383
22,993
4,497,821
74,046
175,697
28,378
134,383
22,993
453,573
175,697
28,378
74,046
453,573
22,993
74,046
28,378
22,993
69,861
(25.13)
28,378

1
1
Empresa
Indicadores
/Company
Ratios
2013
2012
Telecomunicaes
de Moambique, SA
2
2
1
1
TV
Rank
Empresa
3
3
Telecomunicaes
de Moambique, SA
Company
2
2
2013
2012
Teledata
de Moambique, Lda
4
4
TV
Cabo
- Comunicao
Multimdia,
Lda
3
3
mCel
Moambique
Celular,
SA
1
1
LTM
- -Listas
Telefnicas
de Moambique,
Lda
5
n.a
2013
2012
Teledata
de Moambique,
Lda
4
4
Telecomunicaes
de Moambique,
2
2
Rede
de Comunicaao
Miramar, Lda SA
6
7
1
1
LTM
- Listas
Telefnicas de
Moambique,
Lda
5
n.a
TV Cabo
- Comunicao
Multimdia,
LdaLda
3
3
TVSD
- Telecomunicaes
e Electrnica,
7
6
2
2
Rede
de de
Comunicaao
Miramar,
Lda
6
7
Teledata
Moambique,
Ldae Sistemas,
4
4
Telescan
- Telecomunicaes
Lda
8
8
3
3
TVSD
- Telecomunicaes
Electrnica, Lda
7
6
LTM - Listas
Lda
5
n.a
4
4
Telescan
- Telecomunicaes
e Sistemas,
Lda
8
8
Rede de Comunicaao
Miramar,
Lda
6
7
5
n.a
TVSD - Telecomunicaes e Electrnica, Lda
7
6
6
7
8
8
TVSD
- Telecomunicaes e Electrnica, Lda
7
6
8
2013
856
2013
1,524
856
196
1,524
2013
88
196
856
51
2013
88
1,524
167
856
51
196
60
1,524
167
88
16
196
60
51
88
16
167
51
60
167
16
60
16
2013
Net Assets
Current Assets
(103 Meticais) 47,936
19,964
(58.35)(103 Meticais)
(448)
Activo Lquido
Activo Corrente
Net Assets
Current
Assets
2012 %13/12
%13/12
2013
2012
3
3
(10 Meticais)
(10 Meticais)
(19.28)
12,571,621
16.85
3,065,244 3,797,407
Activo Lquido
Activo Corrente
2012
%13/12
2013
2012 %13/12
28.70
13.37
4,497,821 3,494,814
11,088,572
Net Assets
Current Assets
3
12,571,621
16.85
3,065,244 3,797
,407
(19.28)
(103 Meticais)
Meticais)
Activo
Lquido
Activo
766,326
40.71
134,383
117(10
,026 Corrente
14.83
Net Assets
Current %13/12
Assets
11,088,572
13.37
4,4972013
,821 3,494,814
28.70
2012
%13/12
19.23
175,697
1472012
,357
255,640
1.90
(103 Meticais)
(103 Meticais)
Rank
(9.11)

2012
%13/12
3,239,631(103 Meticais)
(3.05)
N Trabalhadores
N of Employees
7,639,778
178,665
2013
2013
3,482,769
52,002
7,639,778
178,665
662,026
8,124
Operating
Cost
3,482,769
3,064,622
13.64
52,002
2013
2012
%13/12
2013
271,321
253,305
7.11
9,620
(103 Meticais)
662,026
463,107
42.95
8,124
7,639,778
7,674,207
(0.45)
178,665
95,481
85,521
11.65
106,237
2013
%13/12
2013
2012
271,321
253,305
7.11
9,620
3,482,769
3,064,622
13.64
52,002
141,211
143,775
(1.78)
30,607
178,665
(0.45)
7,639,778
7,674,207
95,481
85,521
11.65
106,237
662,026
463,107
42.95
8,124
145,347
162,452
(10.53)
1,246
52,002
13.64
3,482,769
3,064,622
141,211
143,775
(1.78)
30,607
271,321
253,305
7.11
9,620
19,964
47,936
(58.35)
(448)
8,124
42.95
662,026
463,107
145,347
162,452
(10.53)
1,246
95,481
85,521
11.65
106,237
9,620
7.11
271,321
253,305
19,964
47,936
(58.35)
(448)
141,211
143,775
(1.78)
30,607
106,237
11.65
95,481
85,521
145,347
162,452
(10.53)
1,246
30,607
(1.78)
141,211
143,775
19,964 Lquido 47,936
(58.35)
(448)
Activo
Activo Corrente
1,246
162,452
(10.53)
145,347
Company
Rank
2013
23,458
Rank

(103 Meticais)
Volume de Negcios
117,407
,026
14.83
3,797
(19.28)
430,978
5.24
2012 %13/12
147,357
19.23
3,494,814
28.70
52.16
48,664
3,797,407
(19.28)
430,978
5.24
117
,026
14.83
76,949
(70.12)
3,494,814
28.70
48,664
52.16
147
,357
19.23
47,709
(40.52)
117,026
14.83
76,949
(70.12)
430,978
5.24
147,357
19.23
47,709
(40.52)
48,664
52.16
430,978
5.24
76,949
(70.12)
48,664
52.16
47,709 Rent
(40.52)
VN
76,949
(70.12)
Profits/Revenue
(40.52)
(%)
Rent VN
Profits/Revenue
2012
2013
(%)
7.63
2.18
Rent VN
2013
2012
2.35
1.66
Profits/Revenue
2.18 Rent (%)
7.63
VN
15.7
1.23
47,709
N Trabalhadores
N of Employees
2012
%13/12
852
2013
0.47
9,593
2013
2,060
9,593
3,994
Revenue
2,060
2,145
(3.97)
2013
2012 per Employee
%13/12
3,229
3,366
(4.07)
(103 Meticais)
3,994
4,329
(7.76)
9,593
10,860
(11.67)
4,646
4,457
4.26
2013
2012
%13/12
3,229
3,366
(4.07)
2,060
2,145
(3.97)
1,060
787
34.75
(11.67)
10,860
9,593
4,646
4,457
4.26
3,994
4,329
(7
.76)
2,710
2,140
26.68
2,145
(3.97)
2,060
1,060
787
34.75
3,366
(4.07)
3,229
1,340
2,659
(49.59)
(7.76)
4,329
3,994
2,710
2,140
26.68
4,457
4.26
4,646
(4.07)
3,366
3,229
1,340
2,659
(49.59)
787
34.75
1,060
4.26
4,457
4,646
2,140
26.68
2,710
34.75
787
1,060
(49.59)
2,659
1,340
2,140
26.68
2,710
N Trabalhadores
2012
%13/12
1,526
(0.13)
N of Employees
852Trabalhadores
0.47
N
136
44.12
N of Employees
1,526
(0.13)
%13/12
2012
90
(2.22)
136
44.12
852
0.47
51
0.00
%13/12
2012
90
(2.22)
1,526
(0.13)
172
(2.91)
0.47
852
51
0.00
136
44.12
63
(4.76)
(0.13)
1,526
172
(2.91)
90
(2.22)
19
(15.79)
44.12
136
63
(4.76)
51
0.00
(2.22)
90
19
(15.79)
172
(2.91)
0.00
51
63
(4.76)
(2.91)
172
(15.79)
19
Resultados Lquidos
(4.76)
63
Net Profits
(15.79)
19(103 Meticais)
Resultados Lquidos
Net%13/12
Profits
2012
(103 Meticais)
688,092
(74.03)
Resultados Lquidos
2012
%13/12
76,172
(31.73)
Net Profits
688,092(103 Lquidos
(74.03)
Meticais)
Resultados
83,943
(90.32)
Income Before Taxes

2,659(103 Meticais)
(49.59)
1,340
Income
Taxes
2013
2012 Before%13/12
(103 Meticais)
83,133
743,345
(88.82)
2013
2012
%13/12
117,107
69,133 Before Taxes
69.39
Income
3
83,133
743,345dos
(88.82)
Meticais)
Resultados
Antes
24,906
66,183(10 Impostos
(62.37)
Net%13/12
Profits
76,172
(31.73)
1172013
,107
2012
30,300
(68.25)
14,099
(103 Meticais)
83,943
(90.32)
24,906
688,092
(74.03)
83,133
108,056
(1.68)
159,937
2013
%13/12
2012
30,300
(68.25)
14,099
76,172
(31.73)
117
,107
(6,157)
597.11
30,607
83,133
(74.03)
688,092
108,056
(1.68)
159,937
83,943
(90.32)
24,906
2,024
(38.42)
3,028
117,107
(31.73)
76,172
(6,157)
597.11
30,607
30,300
(68.25)
14,099
1,613
(127
.77)
(448)
24,906
(90.32)
83,943
2,024
(38.42)
3,028
108,056
(1.68)
159,937
14,099
(68.25)
30,300
1,613
(127
.77)
(448)
(6,157)
597
.11
30,607
(1.68)
159,937
108,056
2,024
(38.42)
3,028
597.11
30,607
(6,157)
1,613
(127
.77)
Passivo
Total (448)
3,028
2,024
(38.42)
Income
Taxes
69,133
69.39
2012 Before%13/12
41,651
(66.15)
(103 Meticais)
66,183
(62.37)
743,345
(88.82)
163,178
(1.99)
%13/12
2012
41,651
(66.15)
69,133
69.39
(6,157)
597
.11
(88.82)
743,345
163,178
(1.99)
66,183
(62.37)
4,697
(35.53)
69.39
69,133
(6,157)
597.11
41,651
(66.15)
2,492
(117
.98)
(62.37)
66,183
4,697
(35.53)
163,178
(1.99)
(66.15)
41,651
2,492
(117
.98)
(6,157)
597
.11
163,178
(1.99)
4,697
(35.53)
(6,157)
597.11
2,492
(117.98)
Passivo Corrente
4,697
(35.53)
Total Liabilities
1,613
2013
3
(10
Meticais)
(127
.77)
Passivo Total
Total
2012 Liabilities
%13/12
(103 Meticais)
7,327,937
28.35
Passivo Total
2012 %13/12
5,927Total
,645 Liabilities
24.39
3
7,327,937
28.35
(10
Meticais)
Passivo
Total
645,267
50.75
9,405,222
2013
7,373,147
9,405,222
972,769
Total
7,373,147
,645
24.39
2013 5,927
2012 Liabilities
%13/12
195,677
183,691
6.53
(103 Meticais)
972,769
645,267
50.75
9,405,222
7,327
,937
28.35
314,890
290,507
8.39
2013
2012 %13/12
195,677 5,927
183,691
6.53
7,373,147
,645
24.39
113,670
118,751
(4.28)
9,405,222
7,327,937
28.35
314,890
290,507
8.39
972,769
645,267
50.75
111,643
89,850
24.25
7,373,147 5,927,645
24.39
113,670
118,751
(4.28)
195,677
183,691
6.53
29,227
46,023
(36.49)
972,769
645,267
50.75
111,643
89,850
24.25
314,890
290,507
8.39
195,677
183,691
6.53
29,227
46,023
(36.49)
113,670
118,751
(4.28)
314,890
290,507
8.39
111,643
89,850
24.25
113,670
118,751
(4.28)
29,227
46,023
(36.49)
Rent. A. Liq.
111,643
89,850
24.25
Rent. Net Asset

29,227
46,023
(%)
Rent. A. Liq.
Rent.
2012
2013 Net Asset
(%)
1.22
5.47
Rent. A. Liq.
2013
2012
0.69
0.41 Net Asset
Rent.
1.22
5.47
(%)
Rent. A.10.95
Liq.
0.75
(36.49)
2013
1.23
2.18
44.83
2013
3.35
1.66
17
.03
2.18
44.83
1.23
0.75
1.66
17
.03
3.35
(1.91)
1.23
0.75
44.83
3.35
(1.91)
17.03
44.83
0.75
17.03
(1.91)
0.75
15.7
7.54
.63
47
2012
10.11
2.35
(4.42)
7.63
47
.54
15.7
1.09
2.35
(4.42)
10.11
3.11
15.7
1.09
47
.54
10.11
3.11
(4.42)
47.54
1.09
(4.42)
3.11
1.09
0.75
1.22
21.94
2013
3.69
0.41
31.61
1.22
21.94
0.75
1.06
0.41
31.61
3.69
(0.86)
0.75
1.06
21.94
3.69
(0.86)
31.61
21.94
1.06
31.61
(0.86)
1.06
10.95
5.47
23.41
2012
11.85
0.69
(8.64)
5.47
23.41
10.95
2.64
0.69
(8.64)
11.85
2.31
10.95
2.64
23.41
11.85
2.31
(8.64)
23.41
2.64
(8.64)
2.31
2.64
3.39
2013
1.00
3.39
7.17
1.00
2013
14.07
7.17
3.39
62.40
2013
14.07
1.00
(95.18)
3.39
62.40
7.17
0.39
1.00
(95.18)
14.07
(1.91)
7.17
0.39
62.40
14.07
(1.91)
(95.18)
62.40
0.39
(95.18)
(1.91)
0.39
(1.91)
3.11
(0.86)
2.31
(1.91)
Profits/Revenue
1.66
2.35
2012
2013
10.11
3.35
(%)
VN por Trabalhador
(103 Meticais)
VN por Trabalhador
Revenue
2012 per Employee
%13/12
(103 Meticais)
10,860
(11.67)
VN por Trabalhador
2012
%13/12
2,145 per Employee
(3.97)
Revenue
3
10,860
(11.67)
(10
Meticais)
VN
por
Trabalhador
4,329
(7.76)
Rent.
0.41 Net Asset
0.69
2012
2013
11.85
3.69
(%)
Current Liabilities
2,492(103 Meticais)
(117.98)
(448)
2013
5,523,623
2013
5,052,314
5,523,623
737,896
5,052,314
2013
195,677
737,896
5,523,623
157,329
2013
195,677
5,052,314
113,670
5,523,623
157,896
,329
737
131,567
5,052,314
113,670
195,677
22,073
737,896
131,567
157,329
195,677
22,073
113,670
157,329
131,567
113,670
22,073
Rent.
C. P.
131,567
S/hs Funds
22,073
(%)
Rent. C. P.
S/hs Funds
2012
(%)
13.74
Rent. C. P.
2012
1.48
S/hs Funds
13.74
(%)
Rent.70.91
C.
P.
S/hs Funds
1.48
2012
53.35
(%)
70.91
13.74
64.84
2012
53.35
1.48
13.87
13.74
64.84
70.91
49.25
1.48
13.87
53.35
7.14
70.91
49.25
64.84
53.35
7.14
13.87
64.84
49.25
13.87
7.14
49.25
7.14
Passivo Corrente
Current
2012 Liabilities
%13/12
(103 Meticais)
4,574,938
20.74
Passivo Corrente
2012 %13/12
3,459,724
46.03
Current Liabilities
4,574,938
20.74
(103 Corrente
Meticais)
Passivo
511,674
44.21
Current
3,459,724
46.03
2012 Liabilities
%13/12
175,496
11.50
(103 Meticais)
511,674
44.21
4,574,938
20.74
143,900
9.33
2012 %13/12
175,496
11.50
3,459,724
46.03
94,461
20.34
4,574,938
20.74
143,900
9.33
511,674
44.21
58,559
124.67
3,459,724
46.03
94,461
20.34
175,496
11.50
39,861
(44.63)
511,674
44.21
58,559
124.67
143,900
9.33
175,496
11.50
39,861
(44.63)
94,461
20.34
143,900
9.33
58,559
124.67
94,461
20.34
39,861
Liquidez(44.63)
Geral
58,559
124.67
Current Ratio
(44.63)
(%)
Liquidez Geral
Current Ratio
2013
2012
(%)
0.55
0.83
Liquidez Geral
2013
2012
0.89
1.01
Current Ratio
0.55
0.83
(%)
Liquidez Geral
0.18
0.23
39,861
Current
0.89
2013
0.90
0.18
0.55
2.88
2013
0.90
0.89
0.65
0.55
2.88
0.18
0.17
0.89
0.65
0.90
1.29
0.18
0.17
2.88
0.90
1.29
0.65
2.88
0.17
0.65
1.29
0.17
1.29
Ratio
1.01
2012
0.84
(%)
0.23
0.83
2.99
2012
0.84
1.01
0.52
0.83
2.99
0.23
1.31
1.01
0.52
0.84
1.20
0.23
1.31
2.99
0.84
1.20
0.52
2.99
1.31
0.52
1.20
1.31
1.20
O sector da construo em Moambique, que esteve

estagnado por vrias dcadas, registou nos ltimos anos
um desenvolvimento e tem sido um dos sectores mais
dinmicos com contribuies significativas para o PIB em
2013, impulsionado pelo aumento contnuo da procura de
projectos de larga escala respeitantes a habitao, conhecidos
igualmente como megaprojectos em Moambique. Esperase que o aumento progressivo da indstria extractiva,
juntamente com a implementao de megaprojectos e
expanso oramental mantenham o crescimento econmico
impulsionando o aumento do PIB para um valor estimado em
8.5% em 2014 e 8.2% em 2015 (Moambique 2014 - Panorama
Econmico Africano, pgina 2.), e coloquem Moambique
como um forte concorrente de investimento econmico em
paralelo com outras economias emergentes em frica.
Construo
Construction
Por/By: Naira Golam
Desenvolvimento de infra-estruturas
O sector da construo representa uma contribuio fundamental para a competitividade e prosperidade

da economia e realizao dos objectivos de desenvolvimento scio-econmico nacional, servindo como um
catalisador da produtividade, estimula o crescimento, aumenta os projectos das exportaes e cria postos
de trabalho (Jornal Internacional de Desenvolvimento e Estabilidade Econmica, Volume. 1, Nmero. 1,
Maro de 2013, pgina. 56).
The construction sector is a crutial contributor contribution to the competitiveness and prosperity of the economy and
the achievement of the national socio-economic development goals, serving as a catalyst of productivity, stimulating
growth, boosting project exports and generating employment (International Journal of Development and Economic
Stability, Vol. 1, No.1, March 2013, pg. 56).
O continente Africano est a ser moldado para desenvolver
as suas infra-estruturas como um mecanismo no sentido
de aumentar a auto-suficincia e competitividade
escala mundial. Em 2013, existiam mais de 322 diferentes
projectos de construo em curso no valor estimado de
USD 223 milhes (Deloitte, Relatrio sobre asTendncias
da rea de Construo em frica 2013, pgina. 2). A
frica Austral registou o maior nmero de projectos
liderando com 38%, seguida pela frica Oriental com uma
contribuio de 29% e 21% para a frica Ocidental. A frica
Austral possui igualmente um vasto e diversificado sector
na actividade de construo em relao as outras regies:
dos 123 principais projectos na frica Austral, 31% esto
relacionados ao sector de energia, 19% para a Minerao,
18% para o transporte e 17% para o Sector Imobilirio
Comercial (Deloitte, Relatrio sobre asTendncias da rea
de Construo em frica 2013, pgina. 2). Alm disso,
esto localizados na frica Austral os trs principais
projectos de infra-estruturas classificados por valor:
Power Station da Eskom Kusile com um investimento
acima dos USD 20.3 bilhes, mais de USD10,800
milhes esto a ser investidos na construo da Central
Elctrica de Medupi e do Projecto Mthombo, o projecto
da refinaria de petrleo bruto da Petro SA, com um
investimento estimado em USD 9 bilhes.
The African continent is being molded to develop its

infrastructure as a means of enhancing self-sufficiency
and global competitiveness. As at 2013, there were over
322 different construction projects underway worth an
estimated USD 223 million (Deloitte, African Construction
Trends Report 2013, pg. 2). Southern Africa had the highest
number of projects leading with 38%, followed by East
Africa with a contribution of 29% and West Africa with
21%. Southern Africa also boasts a diverse sector spread in
the construction activity compared to the other regions: of
the 123 large projects in Southern Africa, 31% are related
to the Energy and Power sector, 19% to Mining, 18% to
Transport and 17% to Commercial Real Estate (Deloitte,
African Construction Trends Report 2013, pg. 2). In addition,
the three leading infrastructure projects underway in
Africa, ranked by value, are also located in Southern Africa;
Eskoms Kusile Power Station is receiving an investment
of over USD 20.3 billion, over USD10.8 billion is being
invested in the construction of the Medupi Power Station
and Project Mthombo, Petro SAs crude oil refinery project,
received an investment estimated at USD 9 billion.
O sector da construo em Moambique apresenta uma das

perspectivas de crescimento mais elevada em toda a regio
da frica Sub-sahariana, com mais de USD 30 bilhes dos
projectos em desenvolvimento. (http://www.thebusinessyear.
com/publication/article/16/1906/mozambique_2013/astructured-approach) Os investimentos de grande
envergadura realizados nos sectores de petrleo e gs e de
minerao incitaram o desenvolvimento de infra-estruturas
e obras de construo. O sector da construo cresceu 15%
durante o ano, principalmente devido ao desenvolvimento de
31 projectos inter-relacionados com o sector de transporte e
de energia, tendo em considerao que a crescente demanda
da actividade industrial exige uma melhor infra-estrutura,
especialmente em reas mais remotas. Os projectos
relacionados com o sector de transporte, no valor estimado
de USD 20 bilhes, includos na reabilitao de 164 km de
estradas, manuteno de 20,003 km de estradas, melhorias
em 1,446 km de estradas, concluso da construo de cinco
pontes e manuteno de sete pontes (BDPES 2013). Os
projectos do sector de energia no valor de mais de USD 10
bilhes esto igualmente includos e, uma parte respeitante
aos programas de electrificao (IMC, BMI, Relatrio de infraestruturas de Moambique)
O desempenho deste sector continua abaixo do seu
potencial devido vrias limitaes que dizem respeito a
capacidade financeira do Governo para desenvolver a infraestrutura necessria para o pas, tendo em considerao
que depende exclusivamente do apoio que recebe por
parte dos investidores privados e dos seus principais
parceiros de IDE. (BPI, Estudos Econmicos e Financeiros
- Moambique 2012) Cerca de 70% do desenvolvimento
que ocorreu em cada provncia com pelo menos um
megaprojecto resultou do investimento de empresas
privadas que procuram maximizar sua produtividade.
Alm disso, os principais intervenientes neste sector em
2013 continuam a ser detidas por entidades estrangeiras
como frica do Sul, China e Portugal. Em projectos onde os
custos totais ascendem MZN 3.5 milhes, uma empresa de
construo em Moambique deve pagar um prmio de 1.5%
como seguro (International Growth Centre Mozambique,
The construction sector in Mozambique, which was

stagnant for many decades, has flourished in the
recent years and has been one of the most dynamic
sectors with significant contributions to GDP during
2013, propelled by the continuous increase in demand
from households and very large-scale projects, known
as megaprojects in Mozambique. The progressive
rise in the extractive industry, coupled with the
implementation of megaprojects and budgetary
expansion, are expected to sustain the economic
ascent, driving GDP growth to an estimated 8.5% in
2014 and 8.2% in 2015 (Mozambique 2014 African
Economic Outlook, pg. 2), and place Mozambique as
a strong economic investment contender parallel with
other emerging economies in Africa.
Infrastructure development
Mozambiques construction sector has one of the
strongest growth outlooks across the Sub-Saharan Africa
region, with more than USD 30 billion worth in projects in
pipeline (http://www.thebusinessyear.com/publication/
article/16/1906/mozambique_2013/a-structured-approach).
The huge investments pledged to the oil and gas and
mining sectors have incited infrastructure development
and heavy construction works. The construction
sector grew by 15% during the year, mainly due to the
development of 31 projects primarily interrelated to the
transport and power sector, as the growing industrial
activity demands better infrastructure, particularly in
more remote areas. Projects related to transport, worth
an estimated USD 20 billion, included the rehabilitation
of 164 km of roads, maintenance of 20,003 km of roads,
improvements in 1,446km of roads, completion of
the construction of five bridges and maintenance of 7
bridges (BDPES 2013). Power projects worth over USD
10 billion are also included and a part of the electrification
programmes (BMI, Mozambique infrastructure report).
The performance of this sector remains below its potential
due to various limitations surrounding the Governments
financial capacity to develop the necessary infrastructure
for the country, as it remains heavily dependent on the
support it receives from private investors and its main
FDI partners (BPI, Estudos Econmicos e Financeiros
Mozambique 2012). 70% of the development that has
occurred in each province with at least one megaproject
is due to the investment of private companies seeking to
maximize their productivity.
Furthermore, the predominant players in this sector in
2013 continue to be foreigner-owned corporations from
South Africa, China and Portugal. In projects where the
The Challenges andThe Way Forward for the Construction

Industry in Mozambique, pg. 22). Assim, apenas 5% das
270 empresas moambicanas de construo submeteram
as suas propostas para projectos que requerem
financiamentos elevados - um problema que inerente
ao mercado, devido falta de competncias e capacidade
financeira das empresas locais (An enterprise map of
Mozambique, John Sutton, pgina. 143).
Espera-se que o desenvolvimento de infra-estruturas
continue a crescer em paralelo com o investimento em
megaprojectos. (Deloitte, African ConstructionTrends
2013, pgina 8) O desenvolvimento deste sector, ser
essencialmente destinado a transpor as sinergias positivas
e conduzir o desenvolvimento de outras reas vitais, como
transporte, agricultura e servios em geral.
Sector Imobilirio
total costs surpass MZN 3.5 million, a construction company

in Mozambique must pay a premium of 1.5% as an insurance
(International Growth Centre Mozambique, The Challenges
and The Way Forward for the Construction Industry in
Mozambique, pg. 22). Thus, only 5% of the 270 Mozambican
construction companies bid for projects that require high
financing a problem that is inherent to the market due to
the lack of skills and financial capacity of local companies (An
enterprise map of Mozambique, John Sutton, pg. 143).
The development of the infrastructure is expected continue grow
in parallel with the investment in megaprojects (Deloitte, African
Construction Trends 2013, pg. 8). The further development of this
sector, will, in essence, transpose positive synergies and lead
to the development of other vital areas such as transportation,
agriculture and services in general.
Em Moambique, a descoberta da riqueza de recursos

naturais e a implementao de projectos de infraestruturas impulsionou igualmente as perspectivas do
mercado imobilirio. O fluxo de empresas estrangeiras
envolvidas nos megaprojectos e a crise econmica na
Europa trouxe muitos estrangeiros em busca de uma
economia em crescimento e com melhores perspectivas
de emprego. O desenvolvimento de actividades
econmicas do pas juntamente com o aumento do
poder de compra de uma classe mdia emergente, o
crescimento da populao local e migrao rural-urbana
estimulou a procura de habitao. (http://www.venturesafrica.com/2014/04/booming-business-a-look-at-realestate-in-mozambique/)
Real estate
Face ao cenrio actual e o surgimento de novas reas

geogrficas como resultado do desenvolvimento de infraestruturas, o mercado imobilirio Moambicano possui
um enorme potencial de crescimento com oportunidades
de investimento e de desenvolvimento da propriedade
em todos os segmentos, incluindo empreendimentos
residenciais e turismo. (http://www.ventures-africa.
com/2014/04/booming-business-a-look-at-real-estatein-mozambique/) Nos ltimos anos, essas mudanas
alargaram a dinmica do mercado, impulsionadas por
propriedades de elevada qualidade.
Given the current scenario and the surge of new geographic areas
as a result of the infrastructure development, the Mozambican real
estate market has a huge potential for growth with opportunities of
investment and property development in all segments, including
residential and tourism (http://www.ventures-africa.com/2014/04/
booming-business-a-look-at-real-estate-in-mozambique/).These
changes have augmented the dynamics of the market, which, in the
recent years, has hastily become fixated on high-end properties.
Um dos principais desafios pertinentes do mercado

imobilirio em Moambique o dfice de oferta e procura
de propriedades e habitao, inerente do investimento
desproporcional do mercado em propriedades de elevada
qualidade, custos elevados de construo e difcil acesso
ao mercado de crdito hipotecrio. Como forma de diluir
o mercado saturado e apoiar a populao em geral, o
Governo criou o Fundo para o Fomento da Habitao
(FFH) como uma entidade ad-hoc para satisfazer
os problemas de habitao no pas. O FFH, em
associao com promotores imobilirios privados,
comeou a mudar o foco do mercado de habitao
tornando-se mais acessvel e est actualmente a
trabalhar em 35 distritos e 14 municpios do pas
(http://www.housingfinanceafrica.org/country/mozambique/).
The discovery of Mozambiques wealth of natural resources and

the implementation of the infrastructure projects has also enlivened
the property markets outlook.The influx of foreign corporations
involved in the megaprojects and the economic slump in Europe
has brought many foreigners in search of a brisker economy and
better employment prospects.The developments of the economic
activities of the country coupled with the increased purchasing
power of an emerging middle class, the local population
growth and rural-urban migration have fuelled demand
for housing (http://www.ventures-africa.com/2014/04/
booming-business-a-look-at-real-estate-in-mozambique/).
One of the main challenges pertinent to the real estate market

in Mozambique is the demand-supply deficit of property and
housing, inherent from the disproportional investment of the
market in high-end properties, high construction costs and
difficult access to the mortgage market. As a means of diluting
the saturated market and supporting the wider population of
Mozambique, the Government has formed a Fundo para o
Fomento da Habitao (FFH) as an ad-hoc entity to adress the
housing issues in the country. The FFH, in association with
private real estate developers, has begun to shift the focus of
the market to more affordable housing and is currently working
in 35 districts and 14 municipalities in the country (http://www.
housingfinanceafrica.org/country/mozambique/).
The real estate market has witnessed the progress of
several affordable housing projects in 2013, including
O mercado imobilirio registou um crescimento notvel em

vrios projectos de habitao a preos acessveis em 2013,
incluindo o projecto Intaka, Vila Olmpica e Casa Jovem,
com o objectivo de fornecer solues de habitao para
o mercado. Alm disso, o Governo prestou igualmente
assistncia tcnica auto-construo de propriedades e
ajudou na construo de 43,226 propriedades localizadas
principalmente nas provncias de Gaza, Sofala, Zambzia e
Nampula (BDPES 2013).
Associado a este contexto favorvel, uma extenso de
instrumentos financeiros, como servios que promovam e
facilitem o acesso ao financiamento de crdito para habitao,
tm impulsionado de forma apropriada a promoo
desses projectos. O sector financeiro foi o segundo mais
dinmico, com um crescimento de 17.7% em 2013, apoiado
pelo aumento da renda familiar e expanso do crdito.
(Mozambique 2014, African Economic Outlook, Pgina 2)
Espera-se que nos prximos anos, o mercado imobilirio
continue relativamente desajustado, tendo em considerao
que a procura por habitao continua a aumentar apesar
dos elevados preos praticados no mercado imobilirio.
Alm disso, o surgimento de casas a preos acessveis ainda
no oferece solues pragmticas para a deficincia que o
mercado imobilirio apresenta, devido aos custos elevados
das propriedades e barreiras respeitantes aos emprstimos
financeiros, tais como custos elevados de transaco e
outros requisitos. Prev-se que a entrada de emigrantes e
estrangeiros que procuram habitao continue a registar
um crescimento elevado e que o interesse por espaos para
escritrios e propriedades de turismo aumente.
Na presente edio, o sector de Construo contou com
a participao de 10 empresas das quais 6 encontram-se
posicionadas entre as 100 Maiores Empresas de Moambique
e, quatro so novas entradas em relao a edio anterior.
No que diz respeito ao volume de negcios, as empresas
participantes totalizam cerca de MZN 16,490 milhes,
dos quais MZN 16,226 milhes (98.40%) esto alocados
as empresas que constam no ranking das 100 Maiores
Empresas.
No que concerne ao resultado lquido, o desempenho deste
sector foi no geral positivo, uma vez que a grande parte
das empresas que responderam ao questionrio obteve
lucros, a excepo da Servitrade, Lda que no disponibilizou
dados para esta rbrica e a C.M.C. frica Austral que obteve
prejuzos de cerca de MZN 58 milhes. O resultado lquido
obtido pelas empresas que constam do ranking das 100
Maiores totalizou MZN 676 milhes, destacando-se a MotaEngil Eng.Construo frica, S.A com lucros na ordem de
MZN 474 milhes e a CETA- Engenharia e Construes, S.A
com MZN 100 milhes. Realar tambm a empresa EMOCIL,
Lda que saiu de uma situao de prejuzos de MZN 49.6
milhes em 2012 para lucros de MZN 24.8 milhes em 2013.
O sector contou com 7,543 trabalhadores empregados dos
quais, 7,398 esto empregues nas empresas que constam no
ranking. As maiores empregadoras do sector so a C.M.C.
frica Austral, Lda e a CETA, SA que totalizam cerca de 4,588
trabalhadores empregues.
Intaka, Vila Olmpica and Casa Jovem, all of which aim to

provide housing solutions to the market. In addition, the
Government also provided technical assistance to selfconstructed property and assisted in the construction of
43,226 properties mainly concentrated in the provinces of
Gaza, Sofala, Zambezia and Nampula (BdPES 2013).
Associated with this favorable backdrop, an extension of
financial instruments, such as services that promote and
facilitate access to house finance, have propelled the promotion
of these projects.The financial sector was the second most
dynamic sector; it expanded by 17.7% in 2013, supported
by increased household income and credit expansion
(Mozambique 2014, African Economic Outlook, Page 2).
It is expected that, in the next years, the real estate market
will remain relatively maladjusted, as the demand for
housing continues to increase despite the sustained rise
in prices . Furthermore, the rise of affordable houses does
not yet provide pragmatic solutions to the deficiency of the
real estate market due to the high costs of the properties
and the barriers realted to financial loans, such as high
transaction costs and other requisits. It is predicted that
the entrance of expats and foreigners seeking housing will
remain high and that there will be an increase in interest
for office spaces and tourism properties.
In this edition, the Construction sector had the participation
of 10 companies of which 6 are positioned among the Top
100 Companies of Mozambique and 4 are represented by
new entries compared to the previous edition.
With regard to revenue, the participating companies
are represented by approximately MZN 16,490 million,
of which MZN 16,226 million (98.40%) are allocated to
companies listed in the Top 100 Companies ranking.
With regard to the net result, the performance of
this sector was generally positive, since most of the
companies that responded to the questionnaire obtained
profits, except Servitrade, Lda that did not provide data for
this heading and C.M.C. frica Austral that registered losses
of about MZN 58 million. The net result obtained by the
companies listed in the Top 100 Companies ranking represent
a total of MZN 676 million, prominence goes to Mota-Engil
Eng.Construo frica, S.A with net profits of approximately
MZN 474 million and CETA- Engenharia e Construes, S.A with
MZN 100 million. Prominence goes also to EMOCIL, Lda that
came out of a situation of losses of MZN 49.6 million in 2012 to
net profits of MZN 24.8 million in 2013.
The sector had 7,543 workers employed of which 7,398 are
employed in companies listed in the Top 100 Companies
ranking. The largest employers in the sector are C.M.C.
Southern Africa and the CETA, SA representing a total of
4,588 workers employed.
With regard to the revenue per employee prominence goes

to Mota-Engil Eng.Construo frica, S.A with a revenue per
employee of MZN 6,009 million per employee, followed by
Texeira Duarte Engenharia e Construes Moambique, Lda
with a revenue per employee of MZN 5,328 million and CAPA
Engenharia Moambique, Lda with MZN 2 million.
Na componente volume de negcios por trabalhador

destacam-se as empresas Mota-Engil Eng.Construo
frica, S.A com um volume de negcios por trabalhador
de MZN 6 milhes por trabalhador, seguida da empresa
Texeira Duarte Engenharia e Construes Moambique,
Lda com um volume de negcios por trabalhador de
MZN 5 milhes e CAPA Engenharia Moambique, Lda
com MZN 2 milhes.
Rank

(103 Meticais)
Empresa
Volume de Negcios
Rank
Volume
de Negcios
2012
2013
Rank
1 de
1
Volume
3
2013
2
4
1
3
2013
5
2
2012
2
1
n.a
2012
2
3
1
n.a
2012
4
2
7
4
9
6
8
5
10
7
8
3
n.a
n.a
11
4
n.a
8
2013
2
Rank
1
Gilctricas Construes,
Lda
CAPA
Lda
TracusEngenharia
Arquitectos,Moambique,
Lda
Cheater
Industrial
RoofingLda
(Moambique), Lda
Gilctricas
Construes,
11
n.a
8
10
Tracus Arquitectos,
n.a
9
Custos
e Rentabilidade
/ Lda
Operating Cost and Profit
n.a
10
Rank
Custos e
2013
2
Rank
1
3
2013
2
4
1
3
2013
5
2
4
1
6
3
5
2
7
4
6
3
8
5
2012
2
1
n.a
2012
2
3
1
n.a
2012
4
2
3
1
n.a
n.a
4
2
8
3
n.a
n.a
11
4
8
3
n.a
n.a
7
4
9
6
8
5
10
7
9
6
8
11
4
n.a
8
n.a
n.a
11
n.a
8
n.a
10
7
9
8
10
11
n.a
n.a/
9
Balano
n.a
10
Rank
Balano /
and Profit
2013 2012
Rank
Gilctricas Construes,
Lda
CAPA
Lda
TracusEngenharia
Lda
Cheater
Industrial
RoofingLda
(Moambique), Lda
Gilctricas
Construes,
Tracus Arquitectos,
Balance
Sheet Lda
Gilctricas Construes, Lda
Empresa
Balance
Sheet
Company
2013
2013 2012 C.M.C. Africa Austral, Lda

2
2
Mota Empresa
- Engil Eng. Construo frica, SA
- Engenharia e Construes, SA
3 2012
n.a CETA Company
2013
2
2
Teixeira
Duarte
Engenharia
e Construes
4
3
Mota - Engil
Eng.
Construo
frica, SA Moambique, Lda
1
1
3 2012
n.a CETA
2013
Servitrade
Servios
Investimentos
e Trading, Lda
5
4
C.M.C.
Africa
Austral,
Lda
2
2
Teixeira
Duarte
Engenharia
e Construes
Moambique, Lda
4
3
Mota -- Engil
Eng.
Construo
frica,
1
1
EMOCIL
, Lda
6
n.a
CETA
Engenharia
e Construes,
SASA
3
n.a
Servitrade
Servios
Investimentos
e Trading, Lda
5
4
C.M.C.
Africa
Austral,
Lda
2
2
CAPA
Engenharia
Moambique,
Lda
7
8
Teixeira Duarte Engenharia e Construes Moambique, Lda
4
3
EMOCIL
, Lda
6
n.a
CETA - Engenharia
eInvestimentos
Construes,
SA
3
n.a
Cheater
Industrial
Roofing
(Moambique),
Lda
8
11
Servitrade
Servios
e Trading,
Lda
5
4
CAPA
Moambique,
Lda
7
8
TeixeiraEngenharia
Duarte
e Construes
Moambique, Lda
4
3
Tracus
Arquitectos,
Lda
9
n.a
EMOCIL
,
Lda Engenharia
6
n.a
Cheater
Industrial
Roofing
(Moambique),
Lda
8
11
Servitrade
Servios
Investimentos
e Trading,
Lda
5
4
Gilctricas
Construes,
Lda
10
n.a
CAPA
Engenharia
Moambique,
Lda
7
8
Arquitectos,
Lda
9
n.a Tracus
EMOCIL
, Lda
6
n.a
Cheater
Industrial
Roofing (Moambique), Lda
8
11
Gilctricas
Construes, Lda
10
n.a
CAPA
Engenharia
Lda
7
8
Tracus
Lda
9
n.a
Cheater
Industrial
RoofingLda
(Moambique), Lda
8
11
Gilctricas
Construes,
10
n.a
Rank
1
1
9
10
Arquitectos,
Lda
n.a Tracus
Balano
/ Balance
Sheet
Capitais Prprios
Balano / Balance
Sheet
Shareholdersfunds
(103 Meticais)
Capitais
Prprios
Balano / Balance
Sheet
Shareholdersfunds
2013
2012
%13/12
(103 Meticais)
Capitais
Prprios
729,449 / Balance
255,259
Balano
Sheet 185.77
Shareholdersfunds
2013
20123
%13/12
996,831
1,054,818
(5.50)
(10 Meticais)
Capitais
729,449
255,259 Prprios
185.77
2972013
,069
252,321
17.73
2012
%13/12
Shareholdersfunds
3
996,831
1,054,818
(5.50)
(10 Meticais)
900,387
765,010
17.70
255,259
185.77
729,449
2972013
,069
n.d
996,831
900,387
729,449
46,278
297
,069
n.d
996,831
46,467
900,387
46,278
297
,069
7,785
n.d
46,467
900,387
4,076
46,278
7,785
n.d
n.d
46,467
4,076
46,278
7,785
n.d
46,467
4,076
7,785
n.d
252,321
2012
n.d
1,054,818
765,010
255,259
21,515
252,321
n.d
1,054,818
39,422
765,010
21,515
252,321
5,435
n.d
39,422
765,010
3,500
21,515
5,435
n.d
n.d
39,422
3,500
21,515
5,435
n.d
39,422
3,500
5,435
n.d
6,780,794
2013
21,636,432
6,780,794
3,079,429
2013
21,636,432
2,557,977
6,780,794
3,079,429
2013
2,682,190
21,636,432
2,557,977
6,780,794
860,097
3,079,429
2,682,190
21,636,432
174,909
2,557
,977
860,097
3,079,429
14,502
2,682,190
174,909
2,557
,977
9,545
860,097
14,502
2,682,190
n.d
174,909
9,545
860,097
14,502
n.d
174,909
9,545
14,502
n.d
9,545
n.a
17.73
%13/12
(5.50)17.70
185.77
115.10
17.73
(5.50)
17.70
.87
17
115.10
17.7343.24
17
17.87
.70
16.46
115.10
43.2417.8716.46
115.10
43.24
17.8716.46
43.24-
(0.68)
54.50
(8.01)
33.52
%13/12
10.48
(0.68)
54.50
(8.01)
164.04
33.52
10.48
(0.68)
(0.44)
54.50
47,074
1,153,647
1,202
171,457
32,053
257
47,420
,074
1,202
171,457
32,053
47
,074
1,202
(42.54)
164.04
56.13
0.00
(0.44)
(42.54)
56.13
0.00
n.d
32,053
(42.54)
53
25
12
1,202
0.00
25
67,398
n.d
n.d
159,617
16,241
(654,923)
67,398
n.d
159,617
16,241
67,398
n.d
(306,975)
(1,461,515)
45,615
n.d
162,224
1,073,354
27,646
(306,975)
45,615
n.d
n.d
162,224
27,646
(306,975)
45,615
n.d
162,224
27,646
45,615
n.d
16,241
27,646
33.76
%13/12
15.57
(5.41)
(4.52)
54.77
138.41
33.76
15.57
(5.41)
(10.13)
(4.52)
138.41
33.76
128.30
15.57
24,763
100,073
3,456
n.d
7,045
135,377
1,575
24,763
3,456
n.d
n.d
7,045
1,575
24,763
3,456
n.d
7,045
1,575
3,456
n.d
1,575
3,049
Activo
Correnten.d
Current Assets
(103 Meticais)
Activo Corrente
Current
Assets
2012 %13/12
(103 Corrente
Meticais)
Activo
4,249,698
51.50
Current Assets
2012
%13/12
8,890,507
(39.71)
(103 Meticais)
Activo Corrente
4,249,698
51.50
1,760,613
46.07
2012 %13/12
Current
Assets
3
8,890,507
(39.71)
(10
Meticais)
2,355,774
(13.57)
4,249,698
51.50
n.d
(41.25)
1,760,613
2012
1,303,037
8,890,507
2,355,774
4,249,698
294,327
1,760,613
46.07
%13/12
(27.77)
(39.71)
(13.57)
51.50
175.25
46.07
(27.77)
(39.71)
(10.78)
(13.57)
175.25
46.07
191.94
(27
.77)
(10.78)
(13.57)
155.14
175.25
191.94
(27.77)(10.78)
7,396
29.06
5,960
2,336
155.14
n.d
n.d
n.d
1,303,037
8,890,507
161,641
2,355,774
294,327
1,760,613
4,452
1,303,037
161,641
2,355,774
2,336
294,327
4,452
1,303,037
n.d
161,641
2,336
294,327
4,452
n.d
161,641
2,336
4,452
n.d
3
2013
5
2
4
1
6
3
5
2
7
4
6
3
8
5
7
4
9
6
8
5
10
7
9
6
8
10
7
9
Empresa
/Company
Ratios
n.a
2012
4
2
3
1
n.a
n.a

Servitrade
Servios
Investimentos
e Trading, Lda
C.M.C. Africa
Austral,
Lda
Teixeira
Duarte
Engenharia
e Construes
Moambique, Lda
Mota -- Engil
Eng.
Construo
frica,
EMOCIL
, Lda
CETA
Engenharia
e Construes,
SASA
5.01
2013
(1.60)
6.97
7.08
3.64
5.01
11
4
n.a
8
n.a
n.a
11
CAPA
Moambique,
Lda
TeixeiraEngenharia
Duarte
e Construes
Moambique, Lda
Tracus
Arquitectos,
Lda
EMOCIL
, Lda Engenharia
Cheater
Industrial
Roofing
(Moambique),
Lda
Servitrade
Servios
Investimentos
e Trading,
Lda
Gilctricas
Construes,
Lda
CAPA Engenharia Moambique, Lda
Tracus
Arquitectos,
Lda
EMOCIL
, Lda
Cheater
Industrial
4.13
6.97
8.55
3.64
4.704.138.55
3.64
4.70
4.138.55
4.70-
4
2
8
3
n.a
n.a
11
4
8
3
n.a
n.a
n.a
8
n.a
Servitrade
Servios Investimentos
e Trading, Lda
C.M.C.Engenharia
Africa
Lda e Construes
CAPA
Moambique,
Lda
Teixeira
DuarteAustral,
Engenharia
Moambique, Lda
EMOCIL
, Lda
CETA - Engenharia
eInvestimentos
Construes,
SA
Cheater
Industrial
Roofing
(Moambique),
Lda
Servitrade
Servios
e Trading,
Lda
Gilctricas
Construes, Lda
CAPA
Engenharia
Lda
Tracus
Lda
106 / A dcima sexta edio / The sixteenth

edition
Cheater Industrial Roofing (Moambique), Lda
8
11
4,076
3,500
16.46
10
9
n.a
n.a

Tracus Arquitectos, Lda
n.d
n.d
10
n.a
(1.60)
4.13
6.97
3.64
5.014.70
2013
6,051,345
2013
20,639,601
6,051,345
2,782,360
2013
20,639,601
1,657,591
6,051,345
2,782,360
2013
1,786,540
20,639,601
6,411
(73.88)
96
(50.00)
142,052
2013
n.d
(16,248)
229,027
685,098
24,763
142,052
n.d
(16,248)
10,489
229,027
322.88
%13/12
(78.18)(8.08)
218.00
149.97
322.88
(78.18)
(0.97)
(8.08)
(48.34)
149.97
138.33
(0.98)(48.34)
138.33-
24,763
142,052
3,456
n.d
10,489
229,027
1,575
24,763
3,456
n.d
n.d
10,489
1,575
24,763
3,456
n.d
10,489
1,575
3,456
n.d
33,592
2012
n.d
(9,119)
249,166
215,440
(49,555)
33,592
n.d
(9,119)
10,592
249,166
(49,555)
33,592
1,450
n.d
10,592
249,166
3,049
(49,555)
1,450
n.d
n.d
10,592
3,049
(49,555)
1,450
n.d
10,592
3,049
1,450
n.d
(48.34)
1,575
3,049
(48.34)
(318.47)
(0.98)
(15.20)
149.97
219.33138.33
(0.98)
(15.20)
(48.34)
149.97
138.33(0.98)-
Passivo
Total
Total Liabilities
(103 Meticais)
Passivo Total
Total Liabilities
2012
%13/12
3
(10
Meticais)
Passivo
Total
4,125,918
46.67
Total Liabilities
20123 %13/12
21,819,337
(5.41)
(10 Meticais)
Passivo46.67
Total
4,125,918
2,049,857
35.73
2012
%13/12
Total Liabilities
3
21,819,337
(5.41)
(10
Meticais)
1,914,148
(13.40)
4,125,918
46.67
2,049,857
2012
1,844,077
21,819,337
1,914,148
4,125,918
339,242
2,049,857
35.73
%13/12
(3.12)
(5.41)
(13.40)
46.67
139.89
35.73
(3.12)
(5.41)
(17
.24)
(13.40)
139.89
35.73
632.41
(3.12)
(17.24)
(13.40)
40.37
139.89
632.41
(3.12)
(17
.24)-
155.14
175.25
191.94
(10.78)
155.14
191.94-
5,469
3,896
40.37
n.d
n.d
Rent. A. Liq.
Rent. Net Asset
(%)
Rent. A. Liq.
Rent.
2013 Net Asset
2012
(%)
Rent. A. Liq.
6.99
4.34
Rent. Net Asset
2012
2013
(0.27)
0.12
(%)
Rent. A. 4.34
Liq.
6.99
3.25 Net Asset
1.36
2013
2012
Rent.
0.12
(0.27)
(%)
5.29
5.96
6.99
4.34
4.15
12.70
9.51
(19.25)
3.084.15-
(0.27)
4.03
5.29
2.88
3.2523.83
4.03
5.29
16.50
2.88
23.834.03-
8.55
9.51
9.51
(19.25)
3.08
4.159.51
3.08-
1.36
2012
0.125.96
4.34
(13.74)
1.36
0.123.66
5.96
(13.74)
1.3622.83
3.66
5.96
41.22
(13.74)
22.833.66-
40.37
139.89
632.41
(17
.24)40.37
632.41-
2013
96.31
2013
(5.65)
96.31
36.43
2013
(5.65)
16.26
96.31
36.43
2013(5.65)
16.26
96.31
73.05
36.43
(5.65)
16.40
16.26
73.05
36.4352.28
41.22
(13.74)
22.83
3.6641.22
22.83-
16.40
16.26
41.58
73.05
52.2816.4041.58
73.05
52.28
16.40
41.58
52.28-
16.50
41.22
16.50
2.88
23.83
4.0316.50
23.83-
(73.88)
24.06
42.36
(50.00)
5.52
(73.88)
42.36
(50.00)
48
128,442
1,657
,591
5,469
813,818
6,716
1,786,540
n.d
128,442
5,469
813,818
6,716
n.d
128,442
5,469
6,716
n.d
3.25
2013
(0.27)
5.29
6.99
2.88
3.25
24.06
(26.25)
42.365.52
40.94
(73.88)
24.06
42.36(50.00)
5.52
1,247
1,107
1,0122,765
3,781
6,411
1,247
1,01296
2,765
6,411
1,247
1,012
96
2,765
6,411
1,012
96

Income Before Taxes
(103 Meticais)
Income
Taxes
2012 Before%13/12
2013
(103 Impostos
Meticais)
218.00
215,440
685,098
Income Before Taxes
2013
2012
%13/12
(78.18)
(9,119)(103 Meticais)
(16,248)
Resultados 215,440
Antes dos Impostos
685,098
218.00
322.88
142,052
33,592
2013
2012 Before%13/12
Income
Taxes
(16,248)
(9,119)(103 Meticais)
(78.18)
(8.08)
249,166
229,027
685,098
215,440
218.00
1,844,077
21,819,337
155,204
1,914,148
339,242
2,049,857
917
1,844,077
155,204
1,914,148
3,896
339,242
917
1,844,077
n.d
155,204
3,896
339,242
917
n.d
155,204
3,896
917
n.d
2.10
2012
0.7312.70
2.61
(19.25)
2.10
0.73
4.15
12.70
(19.25)
2.103.08
(26.25)
%13/12
(3.13)40.94
(35.27)
24.06
(26.25)
(3.13)
5.52
40.94
1,107
20121,522
3,781
9,283
1,247
1,107
1,522
2,765
3,781
1,674
Resultados Lquidos
Net Profits
(103 Meticais)
Resultados Lquidos
Net%13/12
Profits
2012
(103 Lquidos
Meticais)
Resultados
149.67
189,930
Net Profits
2012
%13/12
(318.47)
Resultados
Lquidos
189,930
149.67
219.33
31,338
2012
Net%13/12
Profits
26,542 3 (318.47)
(15.20)
189,930
149.67
1,657,591
6,051,345
813,818
2,782,360
1,786,540
20,639,601
128,442
1,657
,591
813,818
2,782,360
6,716
1,786,540
Rent VN
Indicadores
Profits/Revenue
(%)
Rent VN
Rank
Indicadores
/Empresa
Ratios
Profits/Revenue
Company
2013
2012
2013
2012
Rent (%)
VN
Rank
Empresa
Mota
1
1
7.08
2.61
Indicadores
/Company
Ratios
Profits/Revenue
2013
2012
2012
2013
C.M.C.
Africa
Austral,
Lda
2
2
(1.60)
0.73
(%)
Rank
Empresa
VN
Mota
1
1
7.08 Rent2.61
CETA
3
n.a
5.01
2.10
2013
2012
2013
2012
Company
Profits/Revenue
C.M.C.
Africa
Austral,
Lda
2
2
0.73
(1.60)
(%)
Teixeira
Duarte
Engenharia
e
Construes
Moambique,
Lda
4
3
6.97
12.70
Mota
Engil
Eng.
Construo
frica,
SA
1
1
7.08
2.61
Rank
0.00
(11.29)
20.00
8.16
0.00
219.33
%13/12
(318.47)
(15.20)
149.67
149.97
219.33
135,377
474,190
24,763
100,073
n.d
(577,986)
,045
135,377
VN por Trabalhador
(103 Meticais)
VN por Trabalhador
Revenue
2012 per Employee
%13/12
3
(10
Meticais)
VN por
Trabalhador
9,283
(35.27)
2012
%13/12
1,522(103 Meticais)
(3.13)
VN
por
Trabalhador
9,283
(35.27)
1,107
(26.25)
2012 per Employee
%13/12
Revenue
1,522 3
(3.13)
3,781(10 Meticais)
40.94
9,283
(35.27)
1,546
8171,441
2,918
5,328
1,674
1,546
1,44148
2,918
1,674
1,546
1,441
48
2,918
1,674
1,441
48
8.16
0.00(11.29)
20.00
12.83
8.16
31,338
2012
n.d
26,542
159,634
189,930
(49,555)
31,338
n.d
26,542
7,115
159,634
(49,555)
31,338
1,450
n.d
7,115
159,634
3,049
(49,555)
1,450
n.d
n.d
7,115
3,049
(49,555)
1,450
n.d
7,115
3,049
1,450
n.d
2013
29.06
138.41
128.30
(10.13)
29.06
128.30-
(10.13)
(4.52)
29.06
138.41
128.30
15.57(10.13)
12.83
(18.96)
8.16(11.29)
13.16
20.00
12.83
0.00
2,036,158
6,438,454
810,144
2,571,678
941,208
5,360,117
144,217
2,036,158
810,144
2,571,678
12,997
941,208
144,217
2,036,158
5,960
810,144
12,997
941,208
n.d
144,217
5,960
810,144
12,997
n.d
144,217
5,960
12,997
n.d
2,320,801
22,874,155
194,627
2,679,158
360,757
2,302,178
6,352
2,320,801
194,627
2,679,158
7,396
360,757
6,352
2,320,801
n.d
194,627
7,396
360,757
6,352
n.d
194,627
7,396
6,352
n.d
413
2,700
49
n.d
62
342
10
413
49
n.d
25
62
10
413
49
25
62
10
49
25
20.00
474,190
2013
(57,986)
474,190
100,073
2013
(57,986)
135,377
474,190
100,073
2013
n.d
(57,986)
2013
6,009
2013
1,474
6,009
817
2013
1,474
5,328
6,009
817
2013
1,474
5,328
6,009
1,546
817
1,4742,918
5,328
2012
%13/12
2,530
(5.14)
N
29.19
973Trabalhadores
2,700
(18.96)
2012
%13/12
N of Employees
(5.14)
2,530
342
13.16
973
29.19
(18.96)
2,700
2012
%13/12
n.d
2,530
(5.14)13.16
342
973
29.19
413
12.83
2,700
(18.96)
n.d
2,530
(5.14)
62
(11.29)
342
13.16
10
(113.35)
(26.87)
47.75(1.61)
1,496.63
(41.25)
(113.35)
47.75
(1.61)-(41.25)
(113.35)
47.75
(1.61)(41.25)
47.75-
2,571,678
2013
941,208
5,360,117
N Trabalhadores
N of Employees
2012
%13/12
N Trabalhadores
973
29.19
N of Employees
25
(26.87)
%13/12
9.321,496.63
14.90
(113.35)
(26.87)
9.32(1.61)
1,496.63
n.d
Activo
Lquido n.d
Net Assets
(103 Meticais)
Activo Lquido
Net Assets
2012
%13/12
2013
(103 Meticais)
Activo
Lquido
4,381,177
54.77
6,438,454
Net Assets
2012
%13/12
2013
22,874,155 (103 (5.41)
Meticais)5,360,117
Lquido
4,381,177Activo
54.77
6,438,454
2,302,178
33.76
2,571,678
2012
%13/12
2013
Net
Assets
22,874,155 (103 (5.41)
5,360,117
Meticais)
2,679,158
(4.52)
2,036,158
4,381,177
54.77
6,438,454
2,302,178
2012
2,320,801
22,874,155
2,679,158
4,381,177
360,757
2,302,178
466
2,188
53
700
55
387
12
466
53
700
25
55
12
466
53
25
55
12
164.04
33.52
56.13
10.48
(0.44)
54.50
(42.54)
164.04
56.13
10.48
0.00
(0.44)
(1,461,515)
2012
n.d
3,678,563
1,073,354
(7
,067,288)
(306,975)
(1,461,515)
n.d
3,678,563
162,224
1,073,354
(654,923)
(1,854,258)
67,398
n.d
159,617
17
,137
,475
16,241
(654,923)
CAPA Engenharia
Moambique,
Lda
Teixeira
Duarte
e Construes
Moambique, Lda
Tracus
Arquitectos,
Lda
EMOCIL
, Lda Engenharia
Cheater Industrial
Roofing
(Moambique),
Lda
Servitrade
Servios
Investimentos
e Trading,
Lda
Gilctricas
Construes,
Lda
CAPA
Engenharia
Moambique,
Lda
Tracus Arquitectos,
Lda
EMOCIL
, Lda
Cheater Industrial
Company
Empresa
3,658,150
1,257
,087
7,282,728
1,495,107
2012
1,153,647
3,658,150
1,257
,087
7,282,728
257,420
1,495,107
1,153,647
3,658,150
171,457
1,257
,087
1,257
2013
2,400
1,257
2,188
2013
2,400
387
1,257
2,188
2013
700
2,400
387
1,257
466
2,188
700
2,400
55
387
Custos Operacionais
Operating Cost
(103 Meticais)
Custos Operacionais
Operating
Cost
%13/12
2012
3
Meticais)
Custos (10
Operacionais
14.90
(7,067,288)
Operating Cost
2012
%13/12
9.32
3,678,563(103 Meticais)
(7Custos
,067,288)Operacionais
14.90
(26.87)
(1,461,515)
2012
%13/12
Operating
Cost
3,678,563(103 Meticais)
9.32
1,496.63
1,073,354
(7
,067,288)
14.90
(6,014,587)
2013
4,021,343
(6,014,587)
(1,854,258)
2013
4,021,343
17,137,475
(6,014,587)
(1,854,258)
2013
n.d
4,021,343
17,137,475
(6,014,587)
(654,923)
(1,854,258)
n.d
4,021,343
159,617
17,137
,475

Empresa
Mota
CETA
Company
Teixeira
Duarte
Engenharia
e Construes
Mota - Engil
Eng.
Construo
Servitrade
Servios
Investimentos
e Trading, Lda
C.M.C. Africa
Austral,
Lda
Teixeira
Duarte
Engenharia
e Construes
Moambique, Lda
Mota
Eng.
Construo
frica,
EMOCIL
, Lda
CETA -- Engil
Engenharia
e Construes,
SASA
Servitrade
e Trading, Lda
C.M.C.
Africa
Lda e Construes
CAPA
Moambique,
Lda
TeixeiraEngenharia
DuarteAustral,
Engenharia
Moambique, Lda
EMOCIL
, Lda
CETA
- Engenharia
eInvestimentos
Construes,
SA
Cheater
Industrial
Roofing
(Moambique),
Lda
Servitrade
Servios
e Trading,
Lda

1
1
Balano
/Mota
Balance
Sheet
Company
%13/12
(0.68)
257,420
1,495,107
47,074
1,153,647
171,457
1,257
,087
32,053
257
,420
2013
and Profit
Rank
Empresa
Balano
/ Balance
Sheet
2012
3,658,150
2013
Vol.
de Neg. / Revenues
(8.01)
7,282,728
1,495,107
33.52
2012(103 Meticais)
%13/12
1,202
Empresa
e Rentabilidade
/ Operating Cost
Company
2012
2013
Rank
Empresa
Mota
Engil
Eng.
Construo
frica,Cost
SA
1e Rentabilidade / Operating
1
Custos
Company
Rank
Custos
6,699,685
2013
3,633,430
6,699,685
1,996,310
2013
3,633,430
1,942,184
6,699,685
1,996,310
2013
1,274,567
3,633,430
1,942,184
6,699,685
679,686
1,996,310
1,274,567
3,633,430
170,706
1,942,184
18,418
Empresa
Rentabilidade
Company

2012(103 Meticais)
%13/12
7,282,728 3
(8.01)
(10 Meticais)
2013
679,686
1,996,310
73,498
1,274,567
170,706
1,942,184
18,418
679,686
73,498
1,274,567
1,202
170,706
18,418
679,686
73,498
1,202
170,706
18,418
73,498
1,202
CAPA
Engenharia
Moambique,
Lda
Teixeira
Duarte
e Construes
Moambique, Lda
Tracus
Arquitectos,
Lda
EMOCIL
, Lda Engenharia
Cheater
Industrial
Roofing
(Moambique),
Lda
Servitrade
Servios
Investimentos
e Trading,
Lda
Gilctricas
Construes,
Lda
CAPA
Engenharia
Moambique,
Lda
Tracus
Arquitectos,
Lda
EMOCIL
, Lda
Cheater
Industrial
n.a
n.a
11
n.a
8
n.a
9
6
8
10
7
9
Revenue and Employees

Empresa
Mota
CETA
Company
Teixeira
Duarte
Engenharia
e Construes
Mota - Engil
Eng.
Construo
Servitrade
Servios
Investimentos
e Trading, Lda
C.M.C. Africa
Austral,
Lda
Teixeira
Duarte
Engenharia
e Construes
Moambique, Lda
Mota
Eng.
Construo
frica,
EMOCIL
, Lda
CETA -- Engil
Engenharia
e Construes,
SASA
Servitrade
e Trading, Lda
C.M.C.
Africa
Lda e Construes
CAPA
Moambique,
Lda
TeixeiraEngenharia
DuarteAustral,
Engenharia
Moambique, Lda
EMOCIL
, Lda
CETA - Engenharia
eInvestimentos
Construes,
SA
Cheater
Industrial
Roofing
(Moambique),
Lda
Servitrade
Servios
e Trading,
Lda
3
1
n.a
n.a
4
2
8
3
n.a
n.a
11
4
4
1
6
3
5
2
7
4
6
3
8
5
Company
Empresa
Mota
Negcios
Company e Trabalhadores /
N Trabalhadores
N of Employees
n.d
2013
5,965,281
2013
4,699,413
5,965,281
2,6572013
,586
4,699,413
1,657,591
5,965,281
2,6572013
,586
833,063
4,699,413
1,657,591
5,965,281
813,818
2,657
,586
833,063
4,699,413
75,480
1,657
,591
813,818
2,657
,586
6,716
833,063
75,480
1,657
,591
0
813,818
6,716
833,063
n.d
75,480
0
813,818
6,716
n.d
75,480
0
6,716
n.d
0
n.d
Rent. C. P.
S/hs Funds
(%)
Rent. C. P.
S/hs Funds
2012
(%)
Rent. C.
P.
134.90
S/hs Funds
2012
2.55
(%)
Rent.
C. P.
134.90
24.84
2012
S/hs Funds
2.55
(%)
23.30
134.90
24.84
2012
2.5523.30
134.90
(460.66)
24.84
2.5519.84
23.30
(460.66)
24.84
29.3519.84
23.30
174.23
(460.66)
29.3519.84-
149.97
322.88
138.33(0.97)
(8.08)
(48.34)
149.97
138.33(0.97)(48.34)
149.97
138.33
(0.97)(48.34)
138.33-
n.d
Passivo
CorrenteCurrent Liabilities
(103 Meticais)
Passivo Corrente
Current
2012 Liabilities
%13/12
(103 Corrente
Meticais)
Passivo
4,125,918
44.58
Current Liabilities
2012 %13/12
6,491,234
(27.60)
(103 Meticais)
Passivo Corrente
4,125,918
44.58
1,907
,748 Liabilities
39.30
2012
%13/12
Current
3
6,491,234
(27.60)
(10
Meticais)
1,913,088
(13.36)
4,125,918
44.58
1,9072012
,748
697,648
6,491,234
1,913,088
4,125,918
339,242
1,907
,748
39.30
%13/12
19.41
(27
.60)
(13.36)
44.58
139.89
39.30
697,648
6,491,234
155,204
1,913,088
339,242
1,907
,748
917
697,648
155,204
1,913,088
30
339,242
917
697,648
n.d
155,204
30
339,242
917
n.d
155,204
30
917
n.d
19.41
(27
.60)
(51.37)
(13.36)
139.89
39.30
632.41
19.41
(51.37)
(13.36)
(100.00)
139.89
632.41
19.41(51.37)
30
(100.00)
n.d
(100.00)
139.89
632.41
(51.37)(100.00)
632.41-
Liquidez Geral
Current Ratio
(%)
Liquidez Geral
Current Ratio
2013
2012
(%)
Liquidez Geral
1.08
1.03
Current Ratio
2013
2012
1.14
1.37
(%)
Liquidez Geral
1.08
1.03
0.97
0.92
2013
2012
Current Ratio
1.14
1.37
(%)
1.23
1.23
1.08
1.03
0.97
2013
1.13
1.14
1.23
1.08
1.00
0.97
1.13
1.14
1.91
1.23
1.00
0.97
1.94
1.13
1.91
1.231.00
0.92
2012
1.87
1.37
1.23
1.03
0.87
0.92
1.87
1.37
1.04
1.23
0.87
0.92
4.85
1.87
1.04
1.23
77
.87
0.87
174.23
(460.66)
29.35
19.84174.23
29.35-
1.94
1.131.91
1.00
1.94
1.91-1.94-
4.85
1.87
1.0477
.87
0.87
4.85
1.04
77.87
4.85-
41.58
174.23
77.87
aproximadamente USD 32.5 bilhes em 2014, relativamente

aos USD 31.9 bilhes registados em 2013. Global Economic
Prospects 2014 -The World Bank)
Indstria9
A nvel sub-regional, espera-se um forte crescimento no

Leste da frica, suportado pelos fluxos de IDE em recursos
de gs natural offshore naTanznia e Moambique, pelo
incio da produo de petrleo em Uganda e no Qunia e
agricultura na Etipia. (World Bank Report Global Economic
Prospects (Sub-Saharan Africa) June 2014)
Industry
Por/By: Phillip Mazengera &
Hlio Macie
Em 2013, a actividade global foi reforada, com um crescimento de 2.9%, segundo o IMF World Economic Outlook
2014. Espera-se que o desempenho da economia global continue a registar melhorias em 2014/15, em grande parte
devido recuperao das economias avanadas e, igualmente devido ao fortalecimento da presena dos BRICS
(Brasil, Rssia, ndia, China e frica do Sul) nos mercados emergentes. Deste modo, prev-se que o crescimento
global seja ligeiramente mais elevado em 2014, em cerca de 3.7%, subindo para 3.9% em 2015, no entanto,
tendo em considerao que passados 6 anos aps a crise financeira global, a recuperao econmica do mundo
continua frgil juntamente com a instabilidade poltica em diversas partes do mundo.
Global activity strengthened during the year 2013 with a growth of 2.9% according to the IMF World Economic
Outlook 2014. Activity is expected to improve further in 2014/15, largely on account of the recovery in the advanced
economies, also due to the BRICS (Brazil, Russia, India, China and South Africa) nations flexing their muscles in the
emerging market space. Global growth is now projected to be slightly higher in 2014, at around 3.7%, rising to 3.9%
in 2015, however, given we are only 6 years post the Global financial crisis, the Worlds economic recovery remains
fragile coupled with political instability in many parts of the World.
A actividade econmica foi robusta em grande parte da
frica Subsaariana e Maurcias em 2013. O crescimento do
PIB na regio foi de 4.7% em 2013, acima dos 3.7% em 2012,
suportado pelo forte investimento nos sectores de recursos
naturais e infra-estrutura pblica. No entanto, espera-se que
as restries domsticas e a contraco do ambiente global
venham a moderar o crescimento a mdio prazo. (Global
Economic Prospects 2014 -The World Bank)
Economic activity was robust in much of Sub-Saharan

Africa and Mauritius in 2013. GDP growth in the region
strengthened to 4.7% in 2013, up from 3.7% in 2012,
supported by robust investment in the resource sectors
and public infrastructure. However, it is expected that
domestic constraints and a tightening of the Global
environment will moderate growth in the medium term.
(Global Economic Prospects 2014 - The World Bank)
Apesar dos desafios emergentes, as perspectivas de

crescimento a mdio prazo para frica Subsaariana e
Maurcias continuam favorveis. O crescimento regional do
PIB dever manter-se estvel em 4.7% em 2014, crescendo
em 5.1% em 2015 e 2016 respectivamente, suportado pelo
fluxo do Investimento Directo Estrangeiro Lquido (IDE)
nos sectores de recursos naturais, o investimento pblico
em infra-estrutura e melhorias da produo agrcola.
Prev-se que os fluxos de IDE para a regio sejam de
Despite emerging challenges, medium-term growth

prospects for Sub-Saharan Africa and Mauritius remain
favourable. Regional GDP growth is projected to remain
stable at 4.7% in 2014, strengthening to 5.1% in each of
2015 and 2016, supported by net foreign direct investment
(FDI) flows in the natural resource sectors, public
investment in infrastructure and improved agricultural
production. FDI flows to the region is expected to be
approximately USD 32.5 billion in 2014, from USD 31.9
Moambique tem vindo a crescer de forma constante a uma

taxa mdia de 8%9 por ano, na ltima dcada. De acordo
com o relatrio do Banco Mundial Doing Business 2013,
Moambique est classificada na stima posio no que
diz respeito a regio da frica Subsaariana por proteger os
investidores e na dcima posio no que tange comear
um negcio. Estas so distines muito importantes para
o Pas, dada a percepo de que fazer negcios em frica
arriscado e dispendioso em termos de constituio de uma
empresa (excessiva burocracia). O produto interno bruto
(PIB) real foi de USD 15.42 bilhes para o ano de 2013, um
crescimento de 7.1% de 201210, embora menor do que o
esperado devido s cheias devastadoras registadas no
incio do ano. A taxa de crescimento do PIB est bem
acima do 4.7% para os pases em vias de desenvolvimento
da frica Subsaariana. Aps uma ligeira diminuio do
Rendimento Nacional Bruto (RNB) per capita em 2010,
este tende a aumentar e de acordo com fontes do Banco
Mundial esta de cerca de USD 593. (Global Economic
Prospects 2014 - The World Bank)
O aumento progressivo da produo de carvo e a
implementao de grandes projectos de infraestrutura,
associada a expanso oramental, dever continuar a
impulsionar o crescimento estimado em 8.5% em 2014 e
8.2%11 em 2015. O crescimento positivo acima mencionado
diz respeito ao aumento da dvida pblica de 43.3% do PIB12
devido principalmente a um programa de infraestrutura de
grande envergadura agressivo, associado igualmente com a
expanso das campanhas de segurana social necessrias.
O sector da indstria em Moambique est dividido em subsectores extractivo e transformadora, com o sector extractivo
a desempenhar um papel significativo na produo
mundial de alumnio, berlio e tntalo. De acordo com o
Banco Mundial, a indstria extractiva emergente poderia
fornecer os meios para Moambique alcanar o status de
um pas de renda mdia em 2025. O sucesso deste sector
depende principalmente das tendncias econmicas globais,
regionais, locais e polticas. A recuperao econmica foi
possvel graas a uma boa gesto econmica, reformas
polticas, reconstruo ps-guerra, uma extensa reduo
da dvida, os mega-projectos e um forte apoio dos parceiros
billion recorded in 2013. (Global Economic Prospects 2014 The World Bank)
At the sub-regional level, growth is expected to be strong in
East Africa, increasingly supported by FDI flows into offshore
natural gas resources in Tanzania and Mozambique, the onset
of oil production in Uganda and Kenya and agriculture in
Ethiopia. (World Bank Report Global Economic Prospects
(Sub-Saharan Africa) June 2014)
Mozambique has been growing steadily at the average
rate of 8%9, a year, in the last decade. According to the
World Banks report Doing Business 2013, Mozambique
is ranked seventh best in the Sub-Saharan Africa region for
protecting investors and tenth best for starting a business.
These are marvellous accolades for the Country, given the
perception that doing business in Africa is both risky and
costly in terms of setup and the associated red tape. The
real gross domestic product (GDP) was USD15.42 billion
for the year 2013 representing a 7.1% growth from 201210
although lower than expected due to the severe floods
early in the year. The GDP growth rate is well above the
4.7% for the Sub-Saharan Africa developing countries.
Gross National Income (GNI) per capita after a slight dip
in 2010 is steadily on the rise and now according to World
Bank sources stands at USD 593. (Global Economic
Prospects 2014 - The World Bank)
The progressive increase in coal production and the
implementation of large infrastructure projects, coupled
with budgetary expansion, are expected to continue to
drive growth, projected at 8.5% in 2014 and 8.2%11 in
2015. The aforementioned positivity comes on the back of
an increase in Government debt to 43.3% of GDP12 mainly
due to an huge infrastructure programme, coupled with
the expansion of necessary social safety campaigns.
The industry sector of Mozambique is divided into the
extractive and manufacturing sub-sectors with the
extractive sector playing a significant role in the Worlds
production of aluminium, beryllium and tantalum.
According to the World Bank, the emerging extractive
industry could provide the means for Mozambique to
reach the status of a middle-income country by 2025.
The success of this sector relies heavily on the back of
global, regional and local economic trends and policies.
Economic recovery was made possible by sound economic
management, policy reforms, post-war reconstruction,
extensive debt relief, mega projects and strong support
from development partners who provide the necessary
technical and financial support. During 2013, the industry
sector contribution to GDP was led by Mozal, Cervejas
de Moambique and Cahora Bassa Hydroelectric, with
de desenvolvimento que fornecem apoio tcnico e

financeiros necessrios. Durante 2013, a contribuio
do sector da indstria para o PIB foi liderada pela Mozal,
Cervejas de Moambique e Cahora Bassa, com uma
contribuio substancial para a balana de pagamentos,
atravs dos impostos gerados.
A indstria de minerao e hidrocarbonetos de Moambique
desempenha um papel fundamental no desenvolvimento
do Pas. A descoberta de enormes reservas de gs natural,
estimada para ser a quarta maior do Mundo e o carvo est
a impulsionar a modernizao da indstria de aviao em
Moambique, o que resultou em grandes melhorias nos
servios bsicos, bem como a construo do novo aeroporto
de Nacala. Esta evoluo representa um marco importante
no alinhamento da estratgia de desenvolvimento da aviao
civil, com as estratgias dos sectores de turismo, agricultura
e minerao culminando desta forma com o crescimento
econmico global. Estima-se que as reservas de gs natural
representem cerca de USD 350 bilhes e as previses so
de que a partir de 201813, Moambique poder produzir
100 milhes de toneladas14 por ano, colocando-o apenas
fora dos 10 melhores produtores do mundo. Alm
disso, projeces recentes da Africa Economic Outlook
indicam que o PIB pode triplicar em termos reais nos
prximos 15 anos ou menos com os recursos minerais
representando cerca de 40 a 50% do PIB resultando numa
rpida mudana para uma economia dominante do sector
extractivo. (http://www.africaneconomicoutlook.org/en/
countries/southern-africa/mozambique/)
Fundamentalmente, Moambique confrontado com
vrios desafios para transformar sua riqueza abundante
de recursos extractivos em desenvolvimento econmico
sustentado de longo prazo. Os principais desafios que
Moambique enfrenta hoje so o de fornecer a capacidade
de transporte satisfatria para transportar os recursos
naturais do Pas. Os operadores do sector extractivo esto
cada vez mais a apostar na melhoria do transporte e da
logstica de infraestruturas que tem como objectivo criar
uma cadeia de valor de logstica que seja transparente e
verdadeiramente integrada.
O Sector de Indstria contou com a participao de
vinte e seis (26) empresas, das quais sete (7) so
novas entradas e onze (11) constam do ranking das 100
Maiores Empresas de Moambique.
O volume de negcios das empresas participantes neste
sector totalizou cerca de MZN 83,956 milhes, dos quais MZN
________________________________________________________________________________
9 http://www.commonwealthofnations.org/country/Mozambique/
10 Standard Bank: Monthly Economic Newsletter July 2014
11 http://www.afdb.org/en/countries/southern-africa/mozambique/mozambique-economic-outlook/
12 World Bank Report Global Economic Prospects (Sub-Saharan Africa) June 2014
13 BBC article on Africa (BBC.com)
14 http://www.africaneconomicoutlook.org/en/countries/southern-africa/mozambique
substantial contribution to balance of payments through

taxes generated.
The mineral and hydrocarbon industry of Mozambique
plays a significant role in the development of the
Country. The discovery of enormous reserves of natural
gas, estimated to be the fourth largest in the World
and coal is driving modernisation in Mozambiques
aviation industry, resulting in vast improvement in basic
services, as well as the construction of the new Nacala
Airport. This development marks a major milestone
in the alignment of the development strategy for civil
aviation with the strategy for tourism, agriculture and
mining culminating to overall economic growth. The
natural gas reserves is thought to be worth an estimated
USD 350 billion and predictions are that from 2018 ,
Mozambique could produce 100 million tonnes per
year, putting it just outside the top 10 producers in the
World. Further, recent projections from Africa Economic
Outlook indicate that GDP could triple in real terms
in the next 15 years or less with mineral resources
representing about 40 to 50% of the GDP resulting
in a rapid shift towards an extractive sector dominant
economy. (http://www.africaneconomicoutlook.org/en/
countries/southern-africa/mozambique/)
Fundamentally, Mozambique is confronted with several
challenges to transform its abundant extractive resource
wealth into sustained long-term economic development.
The main challenges Mozambique faces today is
to provide optimum transport capacity to carry the
Countrys natural resources. Industry operators are
increasingly focussing on improving the transport and
logistics infra-structure as they rightly aim for a logistics
value chain that is seamless and truly integrated.
The participating companies in this sector registered a

volume of losses of MZN 6,152 million. Sasol Petroleum
Temane, Lda is the leader of this sector with a net income
of MZN 3,182 million, followed by Hidroelctrica de Cahora
Bassa, SARL with MZN 2,310 million and Cervejas de
Moambique, SARL with MZN 1,425 million.
As empresas participantes neste sector totalizaram um

volume de prejuzos na ordem de MZN 6,152 milhes.
A Sasol Petroleum Temane, Lda lder do sector para
esta rubrica com receitas lquidas na ordem de MZN
3,182 milhes, seguida pela Hidroelctrica de Cahora
Bassa, SARL com MZN 2,310 milhes e pelas Cervejas de
Moambique, SARL com MZN 1,425 milhes.
No que concerne aos trabalhadores empregues
pelas empresas participantes, estes totalizaram 8,243
trabalhadores empregues, um aumento de 4.81% em relao
a 2012. A Vale Moambique, SA lidera o ranking com maior
nmero de trabalhadores empregues na ordem de 2,324. No
que concerne ao volume de negcios por trabalhador esta
componente dominada pela Companhia Moambicana
de Hidrocarbonetos, SA com MZN 106.5 milhes, seguido
pela Sasol PetroleumTemane, Lda com cerca de MZN 41.1
milhes e pela MOZAL, SARL com MZN 25.6 milhes.
With regard to workers employed by the participating

companies, this was represented by 8,243 employed
workers, a rise of 4.81% compared to 2012. Vale
Moambique, SA leads the ranking with the highest
number of workers employed of 2,324. Regarding the
revenue per employee this component is dominated by
Companhia Moambicana de Hidrocarbonetos, SA with
MZN 106.5 million, followed by Sasol Petroleum Temane,
Lda with approximately MZN 41.1 million and MOZAL,
SARL with MZN 25.6 million.

Rank

(103 Meticais)
Empresa
Company
N Trabalhadores
N of Employees
VN por Trabalhador
(103 Meticais)
%13/12
2013
2012
%13/12
2013
2012
%13/12
2013
2012
Mozal, SARL
32,261,000
34,640,000
(6.87)
1,234
1,281
(3.67)
25,655
26,544
(3.35)
Vale Moambique, SA
11,460,892
8,068,955
42.04
2,324
1,933
20.23
5,384
8,349
(35.50)
9,851,983
9,062,322
8.71
1,110
1,274
(12.87)
8,265
7,651
8.03
9,110,774
8,629,212
5.58
712
659
27,650
13,084
111.32
7,714,506
5,769,993
33.70
193
182
6.04
41,144
31,703
29.78
4,506,316
4,050,438
11.26
438
405
8.15
10,691
9,915
7.82
4,320,590
3,895,490
10.91
1,014
914
10.94
4,482
4,442
0.90
2,237,464
1,968,365
13.67
22
20
10.00
106,546
100,942
5.55
846,819
544,575
55.50
67
59
13.56
13,442
10,085
33.29
Ferpinta Moambique, SA
534,663
437,543
22.20
102
129
(20.93)
4,629
3,740
23.78
Topack Moambique, SARL
303,065
257,793
17.56
168
156
7.69
1,871
1,713
9.22
11
S. E. Ginwala & Filhos, Lda
218,031
267,340
(18.44)
92
97
(5.15)
2,307
2,756
(16.29)
13
13
Aberdare Intelec Moambique, Lda
134,930
175,198
(22.98)
32
33
(3.03)
4,152
5,391
(22.98)
14
n.a
A Forjadora, SARL
101,729
79,181
28.48
95
80
18.75
1,163
1,980
(41.27)
15
19
Embalagens Mpact , Lda(ex. Embalagens Mondipak, Lda)
79,272
46,689
69.79
30
44
(31.82)
2,142
1,061
101.91
16
17
Crown Cork Company, Lda
63,340
56,104
12.90
22
22
0.00
2,879
2,609
10.33
17
18
MODET - Sociedade Moambicana de Detergentes, Lda
48,245
50,922
(5.26)
91
102
(10.78)
500
504
(0.84)
18
20
Edimetal, Lda
36,336
25,791
40.89
61
58
5.17
611
465
31.41
19
n.a
Levas Flor, Lda
27,592
23,710
16.37
130
143
(9.09)
202
332
(39.04)
20
22
Incala, Lda
22,707
18,592
22.13
74
65
13.85
327
293
11.59
21
21
PINTEX - Fbrica de Tintas, SARL
21,473
21,279
0.91
44
48
(8.33)
467
426
9.69
22
n.a
Industria de Construes Sotomane, Lda
14,132
10,940
29.18
50
40
25.00
314
547
(42.59)
23
24
Auto Rectificadora
12,600
13,091
(3.75)
38
38
0.00
332
345
(3.75)
24
23
Siesta - Fbrica de mveis, colchoaria, Lda
12,560
13,421
(6.41)
25
23
8.70
523
584
(10.31)
25
n.a
Autrase, Lda
8,670
4,953
75.05
35
28
25.00
275
354
(22.20)
26
n.a
Carpintaria Mutende
6,361
4,534
40.29
40
32
25.00
177
283
(37.65)
2013
2012
The Industry Sector had the participation of 26

companies, from which 7 represent new entries and 11
are listed in Top 100 Companies ranking.
n.a
Sasol Petroleum Temane, Lda
The revenue of the participating companies in this sector

amounted to approximately MZN 83,956 million, of
which MZN 83,148 million are related to the companies
listed in the Top 100 Companies ranking (99.04%).
As in the previous edition, Mozal, SARL and Cervejas
de Moambique, SARL occupy the same positions,
first and third respectively, with a total revenue of
approximately MZN 42,113 million. In this edition we have
Coca-Cola Sabco (Moambique), SA
CIMBETO - Cimpor Beto Moambique, SA
10
n.a
11
12
12
________________________________________________________________________________
9 http://www.commonwealthofnations.org/country/Mozambique/
10 Standard Bank: Monthly Economic Newsletter July 2014
11 http://www.afdb.org/en/countries/southern-africa/mozambique/mozambique-economic-outlook/
12 World Bank Report Global Economic Prospects (Sub-Saharan Africa) June 2014
13 BBC article on Africa (BBC.com)
14 http://www.africaneconomicoutlook.org/en/countries/southern-africa/mozambique
the participation of Vale Moambique, SA in the second

position with a revenue of MZN 11.461 million. These three
companies represent more than 63% of the total revenue
of the industry sector.
83,148 milhes pertencem as empresas que constam no

ranking das 100 Maiores Empresas (99.04%). A semelhana
da edio anterior, a Mozal, SARL e as Cervejas de
Moambique, SARL ocupam as mesmas posies, primeira
e terceira respectivamente, com um volume de negcios
total de cerca de MZN 42,113 milhes. A presente edio,
conta com a participao da empresa Vale Moambique, SA
que ocupa a segunda posio com um volume de negcios
de MZN 11,461 milhes. Estas trs empresas, perfazem mais
de 63% do total do volume de negcios do sector.
Rank
2013
Empresa
Company
2012
Custos Operacionais
Operating Cost
(103 Meticais)
2013
2012
%13/12
Resultadossexta
Antes dos
Impostos
The Resultados
sixteenthLquidos
edition / A dcima
edio
/ 111
Net Profits
(103 Meticais)
2013
2012
%13/12
Income Before Taxes

(103 Meticais)
2013
2012
%13/12
16
20
17
21
18
22
19
23
20
24
21
25
22
26
23
17
22
18
21
20
n.a
n.a
24
22
23
21
n.a
n.a
n.a
24

Incala, Lda
Edimetal, Lda
Levas Flor, Lda
Auto Rectificadora
Incala, Lda
Autrase, Lda
Carpintaria Mutende
Auto Rectificadora
63,340
22,707
48,245
21,473
36,336
14,132
27,592
12,600
22,707
12,560
21,473
8,670
14,132
6,361
12,600
56,104
18,592
50,922
21,279
25,791
10,940
23,710
13,091
18,592
13,421
21,279
4,953
10,940
4,534
13,091
24
23
12,560
8,670
Autrase, Lda
n.a
25
Custos
e Rentabilidade
26
Rank
Carpintaria Mutende
n.a
Custos
e Rentabilidade / Operating Cost and Profit
2012
2013
1
n.a
3
2013
4
1
5
2
6
3
7
4
8
5
9
6
10
7
11
8
12
9
13
10
14
11
15
12
16
13
17
14
18
15
19
16
20
17
21
18
22
19
23
20
24
21
25
22
26
23
2
2012
3
1
4
n.a
5
2
6
3
7
4
9
5
n.a
6
12
7
11
9
13
n.a
n.a
12
19
11
17
13
18
n.a
20
19
n.a
17
22
18
21
20
n.a
n.a
24
22
23
21
n.a
n.a
n.a
24
24
23
Company
Vale
Moambique, SA
19,967,120

Mozal, SARL
Vale Moambique, SA
A Forjadora, SARL
A Forjadora, SARL
Edimetal, Lda
Levas Flor, Lda
Incala, Lda
Edimetal, Lda
Levas Flor, Lda
Auto Rectificadora
Incala, Lda
Autrase, Lda
Carpintaria Mutende
Auto Rectificadora
26
Rank
Carpintaria Mutende
n.a
Empresa
Company
n.a
3
2013
4
1
5
2
6
3
7
4
8
5
9
6
10
7
11
8
12
9
13
10
14
11
15
12
16
13
17
14
18
15
19
16
20
17
21
18
22
19
23
20
24
21
25
22
26
23
2
2012
3
1
4
n.a
5
2
6
3
7
4
9
5
n.a
6
12
7
11
9
13
n.a
n.a
12
19
11
17
13
18
n.a
20
19
n.a
17
22
18
21
20
n.a
n.a
24
22
23
21
n.a
n.a
n.a
24
24
23
n.a
25.00
177
283
(37.65)
40
2012
%13/12
2013
3.58
33,836,000
Custos Operacionais
(3,312,000)
Operating Cost
37.98
14,471,261
(11,617,245)
(103 Meticais)
12,454
13,438
(7.32)
(138)
8,465
4,740
78.59
140
5,486
3,959
38.57
695
%13/12
2013
3.54
46,400,000
Activo Lquido
10,806,000
Activo Corrente
Current Assets
(103 Meticais)
Resultados Lquidos
Net Profits
(103 Meticais)
2012
5.21
1,098
785
39.81
10,271
30.99
4,236
3,413
24.11
4,227
3,693
3,444
30.99
2,338
1,990
17.49
701
Carpintaria Mutende
Capitais Prprios
Shareholdersfunds
(103 Meticais)
(1.88)
38,806,000
Capitais Prprios
Shareholdersfunds
(66.69)
,420,705)
(29,037,949) (17
(103 Meticais)
5,140,039
5,590,971
2012
2013
43,239,608 41,660,405
38,077,000 38,806,000
11,893,454 11,531,868
(29,037,949) (17,420,705)
2,508,693
2,815,250
5,140,039
5,590,971
1,592,828
2,012,190
43,239,608 41,660,405
4,254,432
4,966,981
11,893,454 11,531,868
95,977
132,758
2,508,693
2,815,250
55,656
4,539
8.77
%13/12
3.79
(1.88)
3.14
(66.69)
12.22
8.77
26.33
3.79
16.75
3.14
38.32
12.22
(91.85)
Rank
Empresa
Company
Indicadores
/ Ratios
2013 2012
1
Rank
n.a
3
2013
4
1
5
2
6
3
7
4
8
5
9
6
10
2
2012
3
1
4
n.a
5
2
6
3
7
4
9
5
n.a
Mozal,
SARL
Empresa
Company
Vale
Moambique, SA
Mozal, SARL
Vale Moambique, SA
2013
14.47
2013
25.36
(10.27)
41.24
(101.36)
8.98
14.47
12.32
25.36
39.30
41.24
4.34
8.98
(1.67)
16,585
4.91
1,680
1,644
2.19
1,680
1,644
2.19
26.96
24
23
2,660
2,528
5.21
1,098
785
39.81
10,271
10,277
(0.06)
8,872
6,988
25
n.a
Autrase, Lda
7,850
5,993
30.99
4,236
3,413
24.11
4,227
2,509
68.47
4,227
2,509
68.47
26
n.a
Carpintaria Mutende
3,693
3,444
30.99
2,338
1,990
17.49
701
1,148
(38.92)
701
1,148
(38.92)

Capitais Prprios
Shareholdersfunds
(103 Meticais)
Rank
Empresa
Company
12.22
2012
Rent. C. P.
S/hs Funds
(%)
Liquidez Geral
Current Ratio
(%)
2013
2012
2013
2012
2013
2012
2013
2012
(10.27)
(0.85)
(6.89)
(0.63)
(8.62)
(0.73)
1.10
1.71
(101.36)
(197.09)
(11.05)
(19.61)
50.01
182.58
3.62
1.91
14.47
16.82
15.32
19.65
26.56
32.24
0.67
0.90
25.36
38.50
4.08
5.72
5.44
8.21
2.47
3.90
41.24
43.02
13.02
11.62
27.16
23.29
3.48
3.76
8.98
8.74
5.13
5.53
15.20
15.13
0.86
0.88
Mozal, SARL
Vale Moambique, SA
2,012,190
1,592,828
26.33
12.32
12.49
14.52
18.06
29.53
32.87
0.71
0.76
4,966,981
4,254,432
16.75
39.30
41.13
8.43
9.40
19.07
21.82
6.61
10.33
132,758
95,977
38.32
4,539
55,656
(91.85)
10
n.a
11,566
11,058
4.59
11
12
8,531
13,190
(35.32)
12
98,653
98,848
(0.20)
24,803
21,543
15.13
46,584
43,987
16,056
3,482
4.34
2.49
7.46
3.99
32.16
13.68
1.03
0.94
(1.67)
(10.12)
(1.35)
(6.26)
(29.64)
(62.64)
0.83
0.93
0.17
0.19
0.14
0.13
4.49
4.47
1.08
1.03
11
(0.07)
0.31
(0.25)
1.71
(1.32)
6.54
0.92
0.98
13
13
(0.37)
3.01
(0.36)
3.97
(0.50)
5.30
3.65
3.39
14
n.a
A Forjadora, SARL
3.20
(17.07)
6.26
(34.11)
14.06
(125.45)
5.90
15
19
3.28
(10.52)
3.76
(7.60)
5.73
(10.58)
2.00
1.81
9,785
64.09
16
17
9.90
(3.17)
14.09
(4.11)
48.54
(16.64)
1.00
1.00
2,685
29.69
17
18
1.65
1.07
2.15
1.57
25.86
22.68
1.21
1.24
2,901
2,900
0.04
18
20
Edimetal, Lda
0.00
3.80
0.00
5.45
0.03
40.49
0.98
1.04
1,780
2,491
(28.56)
19
n.a
Levas Flor, Lda
(2.58)
(22.08)
(2.84)
(19.92)
(33.32)
(420.33)
28,993
27,833
4.17
20
22
Incala, Lda
5.11
5.15
3.96
3.40
4.08
3.50
58.13
45.34
0.87
(662)
(981)
32.52
21
21
1.49
(2.33)
3.04
(3.11)
(38.83)
(21.42)
0.78
4,915
1,228
300.24
22
n.a
4.01
3.72
7.58
10.73
18.46
66.29
17,029
16,365
4.06
23
24
Auto Rectificadora
9.41
14.50
6.34
10.54
7.10
12.05
10.36
10.09
(7,611)
(7,749)
1.78
24
23
(1.10)
(0.02)
(5.17)
(0.12)
1.79
0.04
0.12
0.11
3,622
3,485
3.93
25
n.a
Autrase, Lda
1.61
2.93
1.78
2.42
3.94
8.32
1.00
1.36
2,992
2,296
30.29
26
n.a
Carpintaria Mutende
10.93
5.36
18.83
7.05
26.30
21.16
3.33
1.73
%13/12
(0.06)
8,872
6,988
26.96
2,509
68.47
4,227
2,509
68.47
1,148
(38.92)
701
1,148
(38.92)
Rent. C. P.
S/hs Funds
(%)
2012
(0.73)
(8.62) Rent.
C. P.
Funds
50.01 S/hs182.58
26.56
2013
5.44
(8.62)
27.16
50.01
15.20
26.56
29.53
5.44
19.07
27.16
32.16
15.20
(29.64)
Rent. A. Liq.
Rent. Net Asset
(%)
56.61
6,271,000
Passivo Corrente
10,277
2013
Rent VN
Profits/Revenue
(%)
Passivo Corrente
Current Liabilities
(103 Meticais)
42.01
%13/12
46.53
56.61
46.25
(24.56)
36.38
42.01
43.89
46.53
99.09
46.25
52.83
36.38
1.96
43.89
(8.88)
99.09
33.00
52.83
(2.98)
1.96
(8.88)
9.07
33.00
(23.15)
(2.98)
11.52
18.48
9.07
(23.15)
(12.98)
11.52
(34.10)
18.48
2.19
(12.98)
26.96
(34.10)
68.47
(38.92)
2.19
(%)
17,399
2,508,693
2013
19.65
2012
5.72
(0.63)
11.62
(19.61)
5.53
19.65
18.06
5.72
9.40
11.62
3.99
5.53
(6.26)
3.89
Auto Rectificadora
2,815,250
2,614,414
2012
2,582,269
6,271,000
1,389,773
8,633,962
3,253,778
2,614,414
1,014,236
2,582,269
301,089
1,389,773
222,676
3,253,778
601,457
1,014,236
348,733
301,089
35,847
222,676
38,676
601,457
348,733
20,669
35,847
16,733
38,676
22,985
15,072
20,669
16,733
323
22,985
16,922
15,072
n.d
1,644
323
6,988
16,922
2,509
n.d
1,148
1,644
15.32
2013
4.08
(6.89)
13.02
(11.05)
5.13
15.32
14.52
4.08
8.43
13.02
7.46
5.13
(1.35)
18,008
24
9,821,000
Rent. Net (19.61)

Asset
(11.05)
18,709
23
Current Liabilities
(24.56)
8,633,962
16.82
2012
38.50
(0.85)
43.02
(197.09)
8.74
16.82
12.49
38.50
41.13
43.02
2.49
8.74
(10.12)
(34.10)
n.d
3.14
3,712,838
2013
3,783,922
9,821,000
2,032,592
6,513,722
4,437,628
3,712,838
1,459,396
3,783,922
599,454
2,032,592
340,321
4,437,628
613,266
1,459,396
317,770
599,454
47,678
340,321
37,522
613,266
317,770
22,544
47,678
12,860
37,522
25,632
17,857
22,544
12,860
281
25,632
11,151
17,857
n.d
1,680
281
8,872
11,151
4,227
n.d
701
1,680
Profits/Revenue
(197.09)
(101.36)
(%)
16,922
n.d
3.79
%13/12
2012
11,151
0.00
11,531,868
6,513,722
2013
(34.10)
2,566
41,660,405
7,594,000
Passivo31.24
Total
(6.89)
Rent. A.(0.63)
Liq.
16,922
2,566
11,893,454
42.01
%13/12
(18.47)
31.24
14.82
36.16
30.14
42.01
41.10
(18.47)
25.41
14.82
47.60
30.14
2.22
41.10
(0.97)
25.41
33.00
47.60
16.86
2.22
50.61
(0.97)
9.07
33.00
(14.82)
16.86
4.27
50.61
18.48
9.07
(2.06)
(14.82)
(12.98)
4.27
(34.10)
18.48
0.00
(2.06)
2.19
(12.98)
(0.06)
(34.10)
68.47
0.00
(38.92)
2.19
2012
11,151
43,239,608
(103 Meticais)
(10.27)Rent VN (0.85)
(40.73)
n.d
Passivo Total
Total Liabilities
(103 Meticais)
Rent. A. Liq.
Rent. Net Asset
(%)
14,646
n.d
Total Liabilities
36.16
134,144,579 98,522,704
Rent VN
Profits/Revenue
(%)
8,680
97.18
8.77
(3.29)
5,993
(34.20)
3,794
n.a
5,140,039
186.31
2,528
15,941
7,481
21
22
5,590,971
213
7,850
10,489
21
n.a
243
2,660

Mozal, SARL
Vale Moambique, SA
A Forjadora, SARL
A Forjadora, SARL
Edimetal, Lda
Levas Flor, Lda
Incala, Lda
Edimetal, Lda
Levas Flor, Lda
Auto Rectificadora
Incala, Lda
Autrase, Lda
Carpintaria Mutende
Auto Rectificadora
(12.98)
(103 Meticais)
695
3,712,838 2,614,414
2012
2013
13,358,327 16,384,223
7,594,000
9,966,000
11,289,734 9,832,318
134,144,579 98,522,704
5,068,638 3,894,645
3,712,838 2,614,414
1,101,739
1,554,591
13,358,327 16,384,223
4,357,851
5,465,042
11,289,734 9,832,318
360,322
244,128
5,068,638 3,894,645
665,592
651,109
1,101,739
1,554,591
346,762
350,141
4,357,851
5,465,042
47,678
35,847
244,128
360,322
39,503
33,805
651,109
665,592
27,224
18,076
350,141
346,762
20,669
22,544
35,847
47,678
33,398
28,447
33,805
39,503
32,241
33,617
18,076
27,224
15,072
17,857
20,669
22,544
23,797
23,307
33,398
28,447
323
281
33,617
32,241
16,922
11,151
17,857
15,072
2,566
2,566
23,307
23,797
1,644
1,680
281
323
10,277
10,271
11,151
16,922
2,509
4,227
2,566
2,566
1,148
701
1,644
1,680
323
(66.69)
Income Before Taxes

(17,061,145)
16.34
206
5.10
%13/12
(7.30)
0.98
35.22
43.13
32.94
5.10
34.74
(7.30)
27.44
35.22
68.18
32.94
(8.53)
34.74
(3.95)
27.44
25.50
68.18
4.42
(8.53)
(3.95)
20.51
25.50
(23.15)
4.42
8.94
11.29
20.51
(23.15)
11.56
8.94
(40.73)
11.29
4.91
11.56
39.81
(40.73)
24.11
17.49
4.91
(103 Meticais)
281
(29,037,949) (17,420,705)
(14,273,441)
(3.45)
2,364,943
2012
10,079,096
10,701,000
5,229,646
16,476,293
2,877,288
2,364,943
770,935
10,079,096
3,110,914
5,229,646
209,296
2,877,288
556,847
770,935
358,232
3,110,914
35,131
209,296
131,083
556,847
358,232
37,491
35,131
16,733
131,083
28,403
15,654
37,491
16,733
14,646
28,403
14,646
15,654
n.d
16,585
14,646
785
14,646
3,413
n.d
1,990
16,585
(12.98)
186.31
Current Assets
43.13
16,476,293
(2.06)
323
2012
145
2,485,442
2013
9,343,015
10,806,000
7,071,732
23,582,657
3,825,060
2,485,442
1,038,722
9,343,015
3,964,542
7,071,732
351,992
3,825,060
509,373
1,038,722
344,074
3,964,542
44,090
351,992
136,875
509,373
344,074
45,181
44,090
12,860
136,875
30,943
17,422
45,181
12,860
16,339
30,943
8,680
17,422
n.d
17,399
16,339
1,098
8,680
4,236
n.d
2,338
17,399
23,797
281
243
23,582,657
23,307
11.56
2013
254.08
19.98
%13/12
(2.49)
3.54
14.37
29.60
23.12
19.98
36.04
(2.49)
21.13
14.37
44.98
23.12
(6.47)
36.04
(0.79)
21.13
14.62
44.98
3.92
(6.47)
31.32
(0.79)
6.92
14.62
3.06
3.92
6.22
31.32
15.50
6.92
(4.57)
3.06
3.97
6.22
(34.20)
15.50
97.18
(4.57)
3.89
3.97
5.21
(34.20)
30.99
97.18
30.99
3.89
14,646
(1.88)
84
7,754,453
2012
58,044,628
46,400,000
21,364,186
81,101,999
6,403,338
7,754,453
2,694,567
58,044,628
8,612,283
21,364,186
340,105
6,403,338
706,764
2,694,567
361,199
8,612,283
49,038
340,105
132,652
706,764
39,619
361,199
64,656
49,038
43,183
132,652
34,925
39,619
17,972
64,656
26,288
43,183
28,156
34,925
15,941
17,972
3,794
26,288
18,008
28,156
2,528
15,941
5,993
3,794
3,444
18,008
16,339
%13/12
297
Net Assets
29.60
81,101,999
3.97
2012
(4,487.27)
9,303,810
2013
56,597,935
48,044,000
24,433,611
105,106,630
7,883,888
9,303,810
3,665,781
56,597,935
10,432,022
24,433,611
493,080
7,883,888
661,053
3,665,781
358,328
10,432,022
56,209
493,080
137,856
661,053
52,027
358,328
69,128
56,209
44,504
137,856
37,099
52,027
20,758
69,128
25,087
44,504
29,274
37,099
10,489
20,758
7,481
25,087
18,709
29,274
2,660
10,489
7,850
7,481
3,693
18,709
(4.57)
28,156
38,806,000
(3)
2012
26,288
29,274
2013
(2.61)
%13/12
120.51
(1,026.53)
28.12
16.34
38.23
(2.61)
4.83
120.51
10.45
28.12
91.97
38.23
(929.03)
4.83
5.18
10.45
(109.08)
91.97
(57.63)
(929.03)
135.84
5.18
203.35
(109.08)
518.93
(57.63)
32.41
135.84
(93.05)
203.35
86.41
518.93
21.08
32.41
164.31
(93.05)
29.30
86.41
(35.74)
21.08
254.08
164.31
(3.29)
29.30
186.31
(35.74)
2013
25,087
Incala, Lda
38,077,000
2,149,664
2012
1,581,579
(294,000)
3,654,348
(17,061,145)
492,721
2,149,664
620,335
1,581,579
1,182,554
3,654,348
26,324
492,721
5,478
620,335
483
1,182,554
1,575
26,324
8,059
5,478
(13,513)
483
(4,623)
1,575
(1,775)
8,059
1,096
(13,513)
1,559
(4,623)
(5,236)
(1,775)
1,024
1,096
(496)
1,559
645
(5,236)
1,914
1,024
84
(496)
213
645
243
1,914
9,966,000
Levas Flor, Lda
22
%13/12
2,093,551
2013
3,487,553
(3,312,000)
4,681,921
(14,273,441)
681,100
2,093,551
650,297
3,487,553
1,306,186
4,681,921
50,534
681,100
(45,410)
650,297
508
1,306,186
(143)
50,534
3,414
(45,410)
4,844
508
4,778
(143)
7,436
3,414
1,451
4,844
108
4,778
(711)
7,436
1,240
1,451
319
108
834
(711)
1,230
1,240
297
319
206
834
695
1,230
105,106,630
(103 Meticais)
2012
2013
(6.48)
%13/12
(30.46)
(1,026.53)
28.19
26.95
14.31
(6.48)
9.39
(30.46)
8.62
28.19
170.99
14.31
79.85
9.39
5.18
8.62
(117.08)
170.99
(109.39)
79.85
124.12
5.18
152.86
(117.08)
453.10
(109.39)
45.78
124.12
(99.91)
152.86
86.41
453.10
21.08
45.78
164.31
(99.91)
39.31
86.41
(37.51)
21.08
(4,487.27)
164.31
(3.45)
39.31
186.31
(37.51)
%13/12
2012
n.a
(1,026.53)
(3,312,000)
Resultados (294,000)
Antes dos Impostos
%13/12
1,523,848
2012
3,322,071
(294,000)
2,482,085
(15,903,465)
353,961
1,523,848
486,525
3,322,071
809,670
2,482,085
13,573
353,961
(44,259)
486,525
483
809,670
837
13,573
5,270
(44,259)
(13,513)
483
(4,913)
837
(1,776)
5,270
547
(13,513)
980
(4,913)
(5,236)
(1,776)
958
547
(496)
980
407
(5,236)
1,898
958
(3)
(496)
145
407
243
1,898
0.98
10,701,000
Activo Corrente
19
20

Income Before Taxes
(103 Meticais)
(1,026.53)
(294,000)
Resultados
Lquidos
26.95
(15,903,465) Net Profits
(103 Meticais)
Balano
/ Balance
Sheet
2012 %13/12
2013
38,077,000
32
40.29
1,425,094
2013
2,310,059
(3,312,000)
3,181,682
(11,617,245)
404,618
1,425,094
532,216
2,310,059
879,433
3,181,682
36,781
404,618
(8,920)
532,216
508
879,433
(143)
36,781
(495)
(8,920)
3,259
508
2,597
(143)
6,271
(495)
797
3,259
1
2,597
(711)
6,271
1,160
797
319
1
567
(711)
1,186
1,160
(138)
319
140
567
695
1,186
2012
(22.20)
Company
Vale
Moambique, SA
Autrase, Lda
n.a / Balance
25Balano
Sheet
26
48,044,000
(10.31)
354
4,534
10.41
%13/12
17.63
3.58
42.58
37.98
12.14
10.41
13.87
17.63
21.03
42.58
55.19
12.14
35.44
13.87
25.48
21.03
(14.29)
55.19
(16.31)
35.44
4.02
25.48
47.28
(14.29)
3.50
(16.31)
(4.63)
4.02
7.41
47.28
(1.77)
3.50
20.94
(4.63)
197.75
7.41
29.17
(1.77)
1.73
20.94
(7.32)
197.75
78.59
29.17
38.57
1.73
2013
Mozal,
SARL
Empresa
1
Rank
584
275
35
Activo Lquido
Net Assets
(103 Meticais)
Balano
2012/ Balance Sheet
2013
523
25.00
25
75.05
1,772,060
2012
5,850,304
33,836,000
1,985,004
14,471,261
3,126,815
1,772,060
3,224,033
5,850,304
627,104
1,985,004
496,673
3,126,815
378,673
3,224,033
257,310
627,104
253,332
496,673
162,822
378,673
96,582
257,310
52,577
253,332
60,425
162,822
51,964
96,582
54
52,577
19,629
60,425
17,542
51,964
(22,700)
54
10,295
19,629
11,177
17,542
13,438
(22,700)
4,740
10,295
3,959
11,177
Autrase, Sheet
Lda
n.a/ Balance
25
Balano
8.70
28
(6.41)
4,953
1,956,472
2013
6,881,845
35,046,000
2,830,309
19,967,120
3,506,301
1,956,472
3,671,201
6,881,845
758,990
2,830,309
770,792
3,506,301
512,861
3,671,201
322,885
758,990
217,124
770,792
136,268
512,861
100,464
322,885
77,434
217,124
62,539
136,268
49,557
100,464
58
77,434
19,282
62,539
21,215
49,557
22,189
58
13,298
19,282
11,370
21,215
12,454
22,189
8,465
13,298
5,486
11,370
23
13,421
Custos Operacionais
Operating Cost
(103 Meticais)
35,046,000
2,609
293
504
426
465
547
332
345
293
584
426
354
547
283
345
22
65
102
48
58
40
143
38
65
23
48
28
40
32
38
2013
Mozal,
SARL
Empresa
1
Rank
2,879
327
500
467
611
314
202
332
327
523
467
275
314
177
332
22
74
91
44
61
50
130
38
74
25
44
35
50
40
38
6,361
Empresa
Company
10.33
11.59
(0.84)
9.69
31.41
(42.59)
(39.04)
(3.75)
11.59
(10.31)
9.69
(22.20)
(42.59)
(37.65)
(3.75)
0.00
13.85
(10.78)
(8.33)
5.17
25.00
(9.09)
0.00
13.85
8.70
(8.33)
25.00
25.00
25.00
0.00
12.90
22.13
(5.26)
0.91
40.89
29.18
16.37
(3.75)
22.13
(6.41)
0.91
75.05
29.18
40.29
(3.75)
(%)
32.24
2012
8.21
(0.73)
23.29
182.58
15.13
32.24
32.87
8.21
21.82
23.29
13.68
15.13
(62.64)
(103 Meticais)
Liquidez Geral
Current Ratio
(%)
2013
2012
1.71
1.10
Liquidez
Geral
Current Ratio
1.91
3.62
(%)
0.67
2013
2.47
1.10
3.48
3.62
0.86
0.67
0.71
2.47
6.61
3.48
1.03
0.86
0.83
0.90
2012
3.90
1.71
3.76
1.91
0.88
0.90
0.76
3.90
10.33
3.76
0.94
0.88
0.93
Servios
Services
Por / By: Sonali Himatlal
O sector de Servios tem vindo a assumir cada vez mais um papel fundamental no crescimento da economia
Moambicana. Este sector teve uma contribuio directa de 45% no PIB do pas em 2013 (CIA World Factbook)15, atravs
do fornecimento de actividades de apoio, cruciais para a economia.
The service sector has increasingly a critical role in the growth of the Mozambican economy.This sector made a direct contribution of
45% of the countrys GDP in 2013 (CIA World Factbook)15 through the provision of support activities, crucial to the economy.
O sector tercirio, no geral, responde por uma parcela
significativa do PIB na maioria dos pases, incluindo os
pases de baixo rendimento, onde frequentemente contribui,
em mdia, com 50% do PIB (UNCTAD)16. No caso especfico
dos pases da SADC, em 2013, este sector contribuiu com
uma mdia de 54% do PIB da regio, o correspondente a
cerca de USD 39 bilhes (CIA World Factbook)17.
O crescimento recente deste sector em frica deve-se
em grande medida ao desenvolvimento da indstria de
explorao de recursos minerais. Para o crescimento da
indstria extractiva necessria a existncia e o bom
funcionamento de servios e actividades de apoio, como por
exemplo, disponibilidade e acesso a recursos energticos;
servios de telecomunicaes e transportes; servios
financeiros que facilitam as transaces e fornecem acesso
ao financiamento para investimento; servios de sade
e educao e servios jurdicos e de contabilidade que
fazem parte do quadro institucional necessrio para
sustentar uma economia de mercado saudvel.
Moambique uma das economias em frica que mais
atrai investimento directo estrangeiro, sendo que em 2013
foram autorizados 515 novos projectos, representando um
investimento total de USD 4,224 milhes. Destes projectos,
147 foram projectos direccionados para o sector de servios,
representando um valor de USD 542 milhes, entre os
quais, apenas um dcimo do investimento diz respeito
ao Investimento Directo Nacional (Centro de Promoo
de Investimentos)18. Comparativamente a 201219, houve
uma evoluo em cerca de 75% no nmero de projectos
aprovados. O incremento do comrcio internacional com
alguns pases Asiticos e do Mdio Oriente est a atrair
cada vez mais os investidores. Como tal, trata-se de uma
oportunidade adicional de crescimento e desenvolvimento
econmico, que a ser concretizada, permitir aumentar o
papel de Moambique como centro de logstica na regio,
o que inclui no s armazenagem e gesto de stocks,
mas tambm o desenvolvimento de outras actividades
econmicas complementares (indstria hoteleira,
comrcio, transportes pblicos, agricultura e pecuria) e
The tertiary sector accounts for a significant portion of the GDP

in most countries including low income countries where it often
contributes around 50% of GDP (UNCTAD)16. Specifically in
countries within the SADC region the service sector contributed
an average of 54% of the GDP in 2013 corresponding to around
USD 39 billion (CIA World Factbook)17.
The recent growth of this sector in Africa is largely due to
the development of the mineral exploration industry. For the
growth of the extractive industry the existence and proper
functioning of services and support activities is necessary.
These services include the availability and access to energy
resources, transport and telecommunications services,
financial services that facilitate transactions and provide access
to investment finance, health and education services and
legal and accounting services that form part of the institutional
framework necessary to sustain a healthy market economy.
Mozambique is one of the economies in Africa attracting foreign
direct investment. In 2013, 515 new projects were approved
representing a total investment of USD 4,224 million. Of these,
147 relate to the service sector representing a value of USD
542 million of which only a tenth resulted from national direct
investment (Investment Promotion Centre)18. Compared to
201219 there was an increase of around 75% in the number of
projects approved. The increase of international trade with some
Asian and Middle Eastern countries is attracting more and more
investors. As such it is an additional opportunity for growth and
economic development that, if achieved, will increase the role
of Mozambique as a logistic centre in the region. This would
include not only storage and stock management but also the
development of other complementary economic activities (hotel
industry, commerce, public transport, agriculture and livestock)
and the implementation of social responsibility projects with
communities (UNCTAD)20.
a implementao de projectos de responsabilidade social

junto das comunidades (UNCTAD)20.
No que concerne ao nmero de empregos criados, este
sector contribuiu com 8,982 postos de trabalho, contra 5,606
postos de trabalho registados no ano de 2012. o segundo
sector que mais emprego criou durante o perodo em anlise,
representando cerca de 25% da totalidade do emprego criado
(Centro de Promoo de Investimentos 2013)21.
O crescimento deste sector, e a consequente criao
de emprego, exigir um investimento significativo na
educao, formao e qualificao profissional, a fim de
fornecer uma fora de trabalho capaz de acompanhar o
desenvolvimento econmico do pas. O mesmo se poder
dizer dos servios de sade, o crescimento econmico e
o aumento do poder de compra ir induzir a procura por
mais e melhores servios de sade.
De modo a ter um sector de Servios mais robusto,
necessrio melhorar o ambiente de negcios e desenvolver
o sector privado, tornando-o mais forte e com capacidade
de intervir em projectos de grande dimenso. Relativamente
ao ambiente de negcios, importante adoptar uma
abordagem estratgica no que respeita prestao de
servios de suporte aos grandes projectos de investimento,
a fim de estar presente ao longo da cadeia de produo,
ao mesmo tempo assegurando custos de produo
competitivos como forma de atrair mais investimento.
O sector de Servios contou com a participao 46 empresas,
das quais, 15 constam do ranking das 100 maiores empresas e 14
empresas so novas participantes em relao a edio anterior.
O volume de negcios das empresas deste sector totaliza
cerca de MZN 35,668 milhes, dos quais cerca de 96.25 %
correspondem ao volume de negcios das empresas que
constam do ranking das 100 Maiores Empresas.
No que diz respeito ao resultado lquido, este sector registou
um agregado de cerca de MZN 885 milhes contra os MZN
884 milhes registados em 2012. A Intelec Holding, SA lidera
o sector nesta rubrica tendo registado resultados lquidos de
MZN 399.4 milhes, seguido pela Grindrod Mozambique,
Lda e pela MOTRACO, SARL com proveitos de cerca de MZN
247.6 e 242.7 milhes, respectivamente. Importa salientar as
empresas Cowi Moambique, Lda, VISAQUA, SA, IMOVISA,
Lda e MC Consulting, Lda que saram de uma situao de
prejuzos em 2012 para uma situao de lucros em 2013.
O sector registou custos operacionais na ordem de MZN
31,669, milhes, dos quais MZN 20,059 milhes pertencem
as empresas que constam do ranking das 100 maiores.
Quanto ao nmero de trabalhadores empregues, o sector
totalizou cerca de 24,585 dos quais, 89.72% pertencem as
empresas que fazem parte do ranking das 100 maiores
empresas de Moambique. A G4S, Lda continua a liderar o
sector com 13,911 trabalhadores empregues, seguido pela
Electricidade de Moambique, E.P com 3,493 trabalhadores e
pela ES Contact Center Moambique 1,619.
No que concerne ao volume de negcios por
trabalhador, destaque vai para a empresa SIGA Sistemas de Informao e Gesto de Atendimento,
S.A de seguida a MC Consulting, Lda com taxa de
crescimento de 823.63% e 559.27%, respectivamente.
Turning to the number of jobs created, the sector contributed

8,982 jobs compared to 5,606 jobs in 2012. The services sector,
with around 25% of all new jobs, was the second sector which
created the most employment during the period under review.
(Investment Promotion Centre 2013)21.
________________________________________________________________________________
15 https://www.cia.gov/library/publications/the-world-factbook/
16 UNCTAD (United Nations Conference on Trade and Development). 2013. Economic Development in
Africa Report 2013: Fostering Industrial Development in Africa in the New Global Environment. New
York and Geneva: United Nations.
18 Centro de Promoo de Investimentos - 2013
19 Balano do Plano Econmico e Social de 2012
20 UNCTAD (United Nations Conference on Trade and Development). 2013. Economic Development in
Africa Report 2013: Fostering Industrial Development in Africa in the New Global Environment. New
York and Geneva: United Nations
21 Centro de Promoo de Investimentos 2013
________________________________________________________________________________
16 UNCTAD (United Nations Conference on Trade and Development). 2013. Economic
Development in Africa Report 2013: Fostering Industrial Development in Africa in the New
Global Environment. New York and Geneva: United Nations.
18 Investment Promotion Center 2013
19 Review Economic and Social Plan 2012
20 UNCTAD (United Nations Conference on Trade and Development). 2013. Economic
Development in Africa Report 2013: Fostering Industrial Development in Africa in the New
Global Environment. New York and Geneva: United Nations
21 Investment Promotion Center 2013
The growth of this sector and the consequent job creation will
necessitate a significant investment in education, training and
professional qualifications in order to provide a workforce which
is able to keep up with the economic development of the country.
Health Services will be affected in the same way, economic
growth and the increase in purchasing power will drive the
demand for more and better health services.
In order to have a more robust service sector it is necessary
to improve the business environment and develop the private
sector making it stronger and able to support the large projects.
For the business environment it is important to adopt a strategic
approach with regard to the provision of support services for
large investment projects, in order to be involved throughout the
chain of production and at the same time secure competitive
production costs that will attract more investment.
The Services sector was represented by the participation of
46 companies, of which 15 listed inTop 100 companies and 14
companies represent new entries compared to the previous edition.
The revenue of the companies in this sector amounts to
approximately MZN 35,668 million, of which approximately
96.25% correspond to the revenue of the companies listed
in the Top 100 Companies ranking.
With regard to net income, this sector registered an aggregate of
approximately MZN 885 million against MZN 884 million recorded
in 2012. Intelec Holding, SA leads the sector with a revenue of MZN
399.4 million, followed by Grindrod Mozambique, Lda and MOTRACO,
SARL with a revenue of approximately MZN 247.6 and 242.7 million,
respectively. It should be noted the companies Cowi Moambique, Lda,
VISAQUA, SA, IMOVISA, Lda e MC Consulting, Lda leaving a situation of
loss in 2012 to a situation of net profits in 2013.
The sector registered operating costs of MZN 31,669 million,
of which MZN 20,059 million represent the companies listed in
the Top 100 Companies ranking.
With regard to workers employed the sector was
represented by 24,585 of which 89.72% companies are
listed in the Top 100 companies ranking. G4S, Lda continues
to lead the sector with 13,911 workers employed, followed
by Electricidade de Moambique, E.P with 3,493 employees
and ES Contact Center Moambique with 1,619.
With regard to revenue per employee, prominence goes to
the company SIGA - Sistemas de Informao e Gesto de
Atendimento, S.A, followed by MC Consulting, Lda with a growth
rate of 823.63% and 559.27%, respectively.
n.a
10
MC Consulting,
Tecnel
Service, Lda
4,564
503,838
260
353,156
1,658.04
42.67
5
6,260
3
12,154
66.67
(48.49)
1,141
12,133
173
28,801
44
10
n.a
8
Tecninfo, Lda Car Rental, Lda

Moambique
4,375
375,916
5,858
369,393
(25.32)
1.77
11
94,264
11
53,988
0.00
74.60
398
147,023
80,822-
81.91-
45
11
47
9
Lavandaria
Imperial
KPMG
Auditores
e Consultores, SA
4,348
497
,871
3,440
422,968
26.40
17.71
48
(2,263)
50
10,321
(4.00)
(121.93)
89
5,504
60
16,651
48.32
(66.94)
46
12
n.a
16
Limpers,
Lda
ES
Contact
Center Moambique (ex.Select Vedior Moambique)
2,434
297
,785
775
194,720
214.06
52.93
5
9,901
5
13,984
0.00
(29.20)
487
16,570
310
21,617
57.03
(23.35)
13
n.a
Business Connexion Mozambique, Lda
71,212
59,394
19.90
7,586
2,815
169.48
11,851
5,235
126.38
14
15
CONSULTEC - Consultores Associados, Lda
236,771
179,707
31.75
22,353
13,024
71.63
18,810
19,709
(4.56)
216,921
125,232
73.22
18,968
(22,403)
184.67
26,358
(21,271)
223.92
183,584
25.11
4,556
4,527
0.64
7,317
7,761
(5.72)
Cowi Moambique,
Lda
15
19
Custos
e Rentabilidade
/ Operating
Cost and Profit

Rank
43
9

(103 Meticais)
Empresa
Company
N Trabalhadores
N of Employees
VN por Trabalhador
(103 Meticais)
16
18
Royal Haskoning DHV, Lda
229,675
17
17
IMOVISA
- Imobiliria de Moambique, Lda
Company
166,528
DOMUS - Sociedade de Gesto Imobiliria, SA
Rank
18
21
2013
19
2012
23
12.93
1
20
2
27
1,315,003
(6.49)
2
21
6,703
7,538
(11.08)
7.60
105
97
15
53.33
61,592
690
4.35
1,619
23.33
2,867
Empresa
Custos Operacionais
204,982
Operating(18.76)
Cost
3
(18.12)
88,578
1,489
6,166
Resultados Lquidos
(4,304)
134.60
Net Profits
3
4,918(10 Meticais)
25.38
559.27
(57.87)

2,038
(6,014) Before133.89
Income
Taxes
3
9,068
7,232(10 Meticais)
25.39
2013
103,794
2012
98,061
%13/12
5.85
2013
(14,730)
2012
(9,111)
%13/12
(61.67)
2013
(14,730)
2012
(9,111)
%13/12
(61.67)
EDM
- Electricidade
de Moambique,
E.P.
Danmo
Services System,
Lda
9,836,686
79,512
8,356,614
62,520
17.71
27
.18
(68,180)
4,213
104,524
4,052
(165.23)
3.97
52,257
7,118
299,286
6,128
(82.54)
16.16
1
36
MOTRACO,
SARLdo Beluluane, SARL
Parque Industrial
8,178,624
45,853
8,475,710
13,079
(3.51)
250.58
242,655
29,648
233,555
18,005
3.90
64.67
283,677
39,684
272,119
18,005
4.25
120.41
3
22
3
25
Intelec
Holdings,
Clean Africa,
Lda SA
6,298,096
72,179
5,377
,881
66,934
17
.11
7.84
399,409
3,728
438,966
3,205
(9.01)
16.32
864,816
6,068
359,802
4,531
140.36
33.92
7.57
4
23
4
28
G4S
Secure Solutions,
Lda
Multiservios,
Lda
1,240,813
58,568
1,126,782
60,199
10.12
(2.71)
82,830
1,819
71,391
2,796
16.02
(34.94)
131,442
3,012
136,754
4,271
(3.88)
(29.48)
78,231
(21.27)
5
24
6
n.a
Grindrod
Mozambique,
Lda
Tcnica Industrial
Moambique,
Lda
793,334
266,662
617,648
150,131
28.44
77.62
247,572
(12,866)
179,180
(151,147)
38.17
91.49
378,465
113,857
269,015
(151,147)
40.69
175.33
1,688
(4.12)
6
25
5
32
guas
Regio deTurismo
Maputo,e SA
COTURda- Comrcio
Agncia de Viagens, Lda
13,351
39,777
1,358
38,000
883.50
4.68
(179,941)
1,568
(118,643
1,989
(51.67)
(21.17)
(1273,404
,439)
(144,941)
4,706
12.07
(27
.67)
2,361
21.46
7
26
7
35
Televisa
- Sociedade
Aries Consulting,
LdaTcnica de Obras e Projectos, Lda
931,439
32,535
696,208
31,655
33.79
2.78
18,970
2,188
18,650
3,795
1.72
(42.35)
41,368
3,308
30,065
5,694
37.60
(41.90)
8
27
n.a
48
Portos
do Norte,
VISAQUA,
SA SA
759,950
20,235
12,682-
59.56-
91,123
8,783
(7,130)-
223.18-
137
,326
12,863
(10,176)-
226.41-
6,535
35.75
9
28
10
33
Tecnel
Service,
Lda de Mercado, Lda
Intercampus
- Estudos
503,838
(668)
353,156
617
42.67
(208.27)
6,260
(2,571)
12,154
1,312
(48.49)
(295.96)
12,133
(2,434)
28,801
1,359
(57.87)
(279.10)
11,083
8.31
10
29
8
30
Moambique
Car Rental,
Dora Consultores,
Lda Lda
375,916
28,109
369,393
44,585
1.77
(36.95)
94,264
166
53,988
1,706
74.60
(90.27)
147,023
244
80,822
2,509
81.91
(90.28)
1,349
13.29
11
30
9
n.a
KPMG
e Consultores,
SA
TecnicolAuditores
Moambique,
Lda
497
,871
25,968
422,968
24,296
17
.71
6.88
(2,263)
749
10,321
839
(121.93)
(10.73)
5,504
1,102
16,651
1,234
(66.94)
(10.70)
263
330
(20.47)
12
31
16
n.a
ES
Contact
Center Moambique
(ex.Select Vedior Moambique)
Howard
JohnsonAssociates
Mozambique
297
,785
18,217
194,720
4,573
52.93
298.36
9,901
1,013
13,984
98
(29.20)
933.67
16,570
7,517
21,617
4,294
(23.35)
75.06
10.53
3,514
7,849
(55.22)
13
32
n.a
n.a
Business
Connexion
MC - Arquitetos,
Lda Mozambique, Lda
71,212
24,429
59,394
17,945
19.90
36.13
7(897)
,586
2,815
(5,795)
169.48
84.52
11,851
(897)
5,235
(5,795)
126.38
84.52
113
4,524
1,961
130.68
14
33
15
37
CONSULTEC
Somonav, Lda- Consultores Associados, Lda
236,771
37,615
179,707
28,831
31.75
30.47
22,353
(9,572)
13,024
1,359
71.63
(804.34)
18,810
(9,572)
19,709
1,359
(4.56)
(804.34)
74
68
8.82
3,345
2,878
16.24
15
34
19
41
Cowi
Moambique,
Lda
Euromoc.
Lda
216,921
19,526
125,232
9,043
73.22
115.92
18,968
(63)
(22,403)
662
184.67
(109.52)
26,358
(216)
(21,271)
662
223.92
(132.63)
115
112
2.68
2,088
1,716
21.67
16
35
18
44
Royal
PerfectHaskoning
Clean, E.I.DHV, Lda
229,675
11,702
183,584
5,000
25.11
134.04
4,556
298
4,527
288
0.64
3.47
7,317
439
7,761
423
(5.72)
3.78
513
(13.84)
360
407
(11.53)
17
36
17
n.a
IMOVISA
- Imobiliria
de Moambique, Lda
Ferro & Ferro,
Lda
166,528
11,808
204,982
16,673
(18.76)
(29.18)
1,489
14
(4,304)
1
134.60
1,300.00
2,038
26
(6,014)
44
133.89
(40.91)
116
117
(0.85)
851
1,027
(17.10)
18
37
21
n.a
DOMUS
Sociedade
de Gesto Imobiliria,
SA
OLOGA --Sistemas
Informticos,
Lda
140
133
5.26
682
659
3.43
19
38
23
42
DINAME,
E.E.
Linkup Recruitment
Services
95
96
(1.04)
929
708
31.14
20
39
27
n.a
15
14
7.14
5,352
2,079
157.43
21
40
36
43
6.15
1,000
740
35.14
89
114
(22.22)
22
41
25
n.a
(3.14)
57
61
(6.56)
1,056
1,159
(8.88)
23
42
28
n.a
128.83
40
36
11.11
1,462
1,349
8.39
24
43
n.a
n.a
Tcnica
IndustrialLda
Moambique, Lda
MC Consulting,
42,706
1.11
30
25
20.00
1,570
1,708
(8.08)
25
44
32
n.a
35,754
36,747
(2.70)
36
36
0.00
993
1,035
(4.05)
26
45
VISAQUA, SA
35,190
3,265
977.79
n.d
1,633
33
Intercampus - Estudos de Mercado, Lda
32,553
40,209
(19.04)
25
23
8.70
1,356
1,675
30
Dora Consultores, Lda
30,466
48,234
(36.84)
18
17
5.88
1,741
2,923
30
n.a
Tecnicol Moambique, Lda
27,070
25,530
6.03
28
46
(39.13)
732
1,110
(34.09)
31
n.a
Howard JohnsonAssociates Mozambique
25,733
8,866
190.24
85
85
0.00
303
209
45.12
32
n.a
MC - Arquitetos, Lda
23,532
12,150
93.68
14
12
16.67
1,810
2,025
(10.61)
33
37
Somonav, Lda
23,043
30,190
(23.67)
78
78
0.00
295
387
(23.67)
34
41
Euromoc. Lda
19,743
9,789
101.69
14
13
7.69
1,462
1,030
41.93
35
44
Perfect Clean, E.I.
12,141
5,423
123.88
30
17
76.47
517
350
47.67
35
1
44
2
Perfect
Clean, E.I. de Moambique, E.P.
EDM
- Electricidade
36
n.a
Ferro & Ferro, Lda
11,835
16,717
(29.20)
14
15
(6.67)
816
1,079
(24.32)
36
2
n.a
1
Ferro & Ferro,

Lda
MOTRACO,
SARL
37
n.a
OLOGA - Sistemas Informticos, Lda
8,005
7,391
8.31
50.00
1,067
2,464
(56.68)
37
3
n.a
3
38
42
Linkup Recruitment Services
7,449
6,666
11.75
0.00
1,490
1,333
11.75
38
4
42
4
39
n.a
SIGA - Sistemas de Informao e Gesto de Atendimento, S.A
6,168
371
1,562.53
10
(20.00)
685
74
823.63
39
5
n.a
6
SIGA - Sistemas
de Informao
e Gesto de Atendimento, S.A
Grindrod
Mozambique,
Lda
40
43
Neoqumica Moambique, Lda
5,816
6,123
(5.01)
22
27
(18.52)
237
223
6.62
40
6
43
5
Neoqumica
Moambique,
guas
da Regio
de Maputo,Lda
SA
41
n.a
F.M. Simes, SA
5,428
6,276
(13.51)
22
22
0.00
247
571
(56.76)
41
7
n.a
7
F.M. Simes,
SA Tcnica de Obras e Projectos, Lda
Televisa
- Sociedade
42
n.a
SOTEL - Sociedade Tcnica de Electricidade, Lda
5,266
4,407
19.49
60
147
42
8
n.a
SOTEL
Sociedade
Portos
do- Norte,
SA Tcnica de Electricidade, Lda
43
n.a
MC Consulting, Lda
4,564
260
1,658.04
66.67
1,141
173
559.27
43
9
n.a
10
44
n.a
Tecninfo, Lda
4,375
5,858
(25.32)
11
11
0.00
398
44
10
45
47
Lavandaria Imperial
4,348
3,440
26.40
48
50
(4.00)
89
60
48.32
45
11
46
n.a
Limpers, Lda
2,434
775
214.06
0.00
487
310
57.03
2013
2012
2013
2012
%13/12
2013
2012
%13/12
2013
2012
%13/12
10,205,956
8,723,552
16.99
3,493
3,476
0.49
2,929
2,594
MOTRACO, SARL
8,607,617
9,205,023
(6.49)
0.00
1,229,660
7,222,024
5,853,024
23.39
1,070
1,085
(1.38)
1,403,117
1,252,573
12.02
13,911
12,929
1,170,254
899,657
30.08
23
guas da Regio de Maputo, SA
1,141,140
1,124,317
1.50
720
Televisa - Sociedade Tcnica de Obras e Projectos, Lda
1,056,556
774,269
36.46
407
330
n.a
Portos do Norte, SA
898,924
220
10
Tecnel Service, Lda
523,411
385,580
35.75
59
59
0.00
8,871
10
Moambique Car Rental, Lda
510,157
465,470
9.60
43
42
2.38
12,004
11
KPMG Auditores e Consultores, SA
503,374
439,619
14.50
328
331
(0.91)
1,528
12
16
314,201
206,863
51.89
1,619
772
109.72
13
n.a
281,151
298,256
(5.74)
84
76
14
15
255,581
202,959
25.93
15
19
Cowi Moambique, Lda
237,520
169,807
39.88
16
18
236,992
191,345
23.86
17
17
IMOVISA - Imobiliria de Moambique, Lda
172,033
194,452
(11.53)
442
18
21
99,159
121,668
(18.50)
19
23
DINAME, E.E.
93,084
89,995
3.43
20
27
Danmo Services System, Lda
88,699
68,347
29.78
21
36
Parque Industrial do Beluluane, SARL
77,600
33,262
133.30
22
25
Clean Africa, Lda
77,404
72,920
23
28
Multiservios, Lda
62,310
64,329
24
n.a
Tcnica Industrial Moambique, Lda
55,549
24,275
25
32
COTUR - Comrcio Turismo e Agncia de Viagens, Lda
43,181
26
35
Aries Consulting, Lda
27
48
28
29
88,578
7,806
108,183
7,299
(18.12)
6.95
6,166
31
4,918
21
25.38
47.62
9,068
31
7,232
21
25.39
47.62
103,794
6,084
98,061
5,943
5.85
2.37
(14,730)
819
(9,111)
843
(61.67)
(2.85)
(14,730)
1,264
(9,111)
1,240
(61.67)
1.94
Danmo
Services de
System,
Lda e Gesto de Atendimento, S.A
SIGA - Sistemas
Informao
79,512
139
62,520
59
27.18
135.59
4,213
(4)
4,052
(1,220)
3.97
99.67
7,118
30
6,128
(1,220)
16.16
102.46
Parque
Industrial
do Beluluane,
Neoqumica
Moambique,
Lda SARL
45,853
5,950
13,079
6,597
250.58
(9.81)
29,648
(133,787)
18,005
(271)
64.67
(49,267
.90)
39,684
(133,787)
18,005
(271)
120.41
(49,267
.90)
Clean
Africa, Lda
F.M. Simes,
SA
72,179
6,037
66,934
4,914
7.84
22.85
3,728
162
3,205
348
16.32
(53.45)
6,068
239
4,531
515
33.92
(53.59)
Multiservios,
Lda Tcnica de Electricidade, Lda
SOTEL - Sociedade
58,568
1,185
60,199
814
(2.71)
45.58
1,819
58
2,796
31
(34.94)
87.10
3,012
62
4,271
52
(29.48)
19.23
266,662
(2,531)
150,131
(544)
77.62
(365.37)
(12,866)
220
(151,147)
(336)
91.49
165.29
113,857
541
(151,147)
(336)
175.33
260.99
COTUR
Turismo e Agncia de Viagens, Lda
Tecninfo,- Comrcio
Lda
39,777
4,069
38,000
4,704
4.68
(13.50)
1,568
183
1,989
782
(21.17)
(76.60)
3,404
269
4,706
1,150
(27.67)
(76.61)
35
47
Aries
Consulting,
Lda
Lavandaria
Imperial
32,535
4,311
31,655
3,255
2.78
32.44
2,188
32
3,795
168
(42.35)
(80.96)
3,308
37
5,694
185
(41.90)
(80.01)
27
46
48
n.a
VISAQUA,
SA
Limpers, Lda
20,235
2,672
12,682
662
59.56
303.63
8,783
(238)
(7,130)
82
223.18
(390.24)
12,863
(238)
(10,176)
113
226.41
(310.62)
(19.04)
28
33
Intercampus - Estudos de Mercado, Lda
(668)
617
(208.27)
(2,571)
1,312
(295.96)
(2,434)
1,359
(279.10)
(40.45)
29
30
Dora Consultores, Lda
28,109
44,585
(36.95)
166
1,706
(90.27)
244
2,509
(90.28)
30
n.a
Tecnicol Moambique, Lda
25,968
24,296
6.88
749
839
(10.73)
1,102
1,234
(10.70)
31
n.a
18,217
4,573
298.36
1,013
98
933.67
7,517
4,294
75.06
32
n.a
Empresa
Company
33
37
Somonav, Lda
34
2013
41
2012
Euromoc. Lda

Rank
DINAME, E.E.

Rank
Howard JohnsonAssociates Mozambique
Resultados Lquidos
Net Profits
(103 Meticais)
Custos Operacionais
Operating Cost
(103 Meticais)

Income Before Taxes
(103 Meticais)
2013
19,526 %13/12
2012
Activo Corrente
36.13
(897)
Current Assets
(103 Meticais)
30.47
(9,572)
9,043 2013
115.92
2012
%13/12(63)
(5,795)
1,359
662
2013
Passivo Total
84.52
(897)
Total Liabilities
(103 Meticais) (9,572)
(804.34)
(109.52)
2012
%13/12
(216) 2013
11,702
38,516,805
13.14
5,000
5,584,970
134.04
4,864,662
4,148,665
11,808
4,112,463
0.88
16,673
1,488,049
(29.18)
1,480,325
OLOGA
- Sistemas
Intelec
Holdings,
SA Informticos, Lda
8,669,116
7,806
7,163,468
21.02
72,627
,299 ,354
6.95
2,465,121
Linkup
Recruitment
G4S
Secure
Solutions,Services
Lda
1,000,211
6,084
896,411
11.58
5,943
844,175
2.37
323,355
729,458
139
509,629
43.14
59
668,818
135.59
462,005
1,195,044
5,950
1,048,667
13.96
6,597 n.d
(9.81)
n.d
1,099,061
6,037
1,067,023
3.00
4,914
949,137
22.85
956,506
348
(0.77)162 1,021,610
(53.45)
999,217
2.24
239
919,058
445,540
1,185
-
814
403,448
45.58 -
- 58
348,81831
87-.10
62
348,818
MC Consulting,
Lda
Tecnel
Service, Lda
304,713
(2,531)
160,616
89.72
(544)
282,253
(365.37)
146,730
92.36220
(336)
189,482
165.29
40,872
363.60
n.a
8
Tecninfo, LdaCar Rental, Lda

Moambique
668,028
4,069
705,848
(5.36)
4,704
164,796
(13.50)
94,384
74.60183
782
278,515
(76.60)
394,936
47
9
Lavandaria
Imperial
KPMG
Auditores
e Consultores, SA
219,186
4,311
196,770
11.39
3,255
202,589
32.44
181,709
11.49 32
168
178,752
(80.96)
154,073
46
12
n.a
16
Limpers,
ES
ContactLda
Center Moambique (ex.Select Vedior Moambique)
56,986
2,672
48,940
16.44
662
52,187
303.63
46,853
(238)
11.38
32,97882
(390.24)
29,604
13
n.a
203,395
204,295
(0.44)
194,021
195,115
(0.56)
94,015
102,500
14
15
202,727
169,841
19.36
184,399
147,358
25.14
147,158
122,294
66,287
47,718
38.91
52,402
33,222
57.73
28,627
47,718
(40.01)
13,845
165,284
158,726
4.13
147,712
143,151
3.19
132,037
130,035
1.54
130,335
288 20,122,269
3.47
14.81298 25,046,002
Passivo Corrente
(5,795)
84.52
Current Liabilities
1,359(103 Meticais)
(804.34)
43,578,153
Cowi Moambique,
19 / Balance
15
Balano
Sheet Lda
Empresa
Company
Activo Lquido
24,429
17,945
Net Assets
3
(10
Meticais) 28,831
37,615
24.47
0.52 14 1,900,080 1
1,300.00
2,002,195
(5.10)
6.58 31 3,341,06321
47.62
2,229,381
49.87
(2.85)
775,142
2.44
(19.38)
161.07819
843
794,019
44.76 (4)
(1,220)
184,706
99.67
229,106
(133,787)
(271)
1,944,693
(49,267.90)
1,618,375
30
184,706 (1,220)
183,186
102.46
0.83
(271)
.90)
512,281 (49,267
99.87
515
871,491
52
(53.59)
5.46
19.23-
(29.48)
269
188,972
1,150
159,061
(76.61)
18.80
16.02
37
173,702
185
145,136
(80.01)
19.68
11.40
(238)29,199
113
22,778
(310.62)
28.19
(8.28)
94,015
102,500
(8.28)
20.33
147,158
46,463
216.72
17
17
163,762
100,618
DINAME, E.E.
2013
150,614
2012
156,242
%13/12
(3.60)
2013
84,127
2012
91,087
%13/12
(7.64)
2013
123,779
2012
114,677
%13/12
7.94
43,578,153
80,618
38,516,805
61,980
13.14
30.07
5,584,970
24,179
4,864,662
16,204
14.81
49.22
25,046,002
53,816
20,122,269
39,301
24.47
36.93
4,148,665
149,853
4,112,463
107,961
0.88
38.80
1,488,049
75,988
1,480,325
38,568
0.52
97
.02
1,900,080
57,906
2,002,195
45,485
(5.10)
27.31
164,177
20,474
(32.38)
129,527
0.62
2012
81,712
%13/12
5.80
Passivo Corrente
257,348 Liabilities
(36.20)
Current
(103 Meticais)
66,051
9.94
18
21
2013
2012
%13/12
2013
2012
%13/12
2013
2012
%13/12
2013
19
2012
23
9,836,686
8,356,614
17.71
(68,180)
104,524
(165.23)
52,257
299,286
(82.54)
1
20
2
27
EDM
- Electricidade
de Moambique,
E.P.
Danmo
Services System,
Lda
MOTRACO, SARL
8,178,624
8,475,710
(3.51)
242,655
233,555
3.90
283,677
272,119
4.25
2
21
1
36
MOTRACO,
SARLdo Beluluane, SARL
Parque Industrial
6,298,096
5,377,881
17.11
399,409
438,966
(9.01)
864,816
359,802
140.36
3
22
3
25
Intelec
Holdings,
Clean Africa,
Lda SA
8,669,116
71,304
7,163,468
56,604
21.02
25.97
2,627
,354
43,368
2,465,121
34,682
6.58
25.04
3,341,063
58,448
2,229,381
48,176
49.87
21.32
1,240,813
1,126,782
10.12
82,830
71,391
16.02
131,442
136,754
(3.88)
4
23
4
28
G4S
Secure Solutions,
Lda
Multiservios,
Lda
1,000,211
61,675
896,411
52,803
11.58
16.80
844,175
46,779
323,355
38,905
161.07
20.24
794,019
50,308
775,142
43,255
2.44
16.31
793,334
617,648
28.44
247,572
179,180
38.17
378,465
269,015
40.69
5
24
6
n.a
Grindrod
Mozambique,
Lda
Tcnica Industrial
Moambique,
Lda
729,458
525,594
509,629
169,695
43.14
209.73
668,818
92,252
462,005
52,677
44.76
75.13
184,706
351,493
229,106
402,599
(19.38)
(12.69)
guas da Regio de Maputo, SA
13,351
1,358
883.50
(179,941)
(118,643
(51.67)
(127,439)
(144,941)
12.07
6
25
5
32
guas
Regio deTurismo
Maputo,e SA
COTURda- Comrcio
Agncia de Viagens, Lda
1,195,044
16,143
1,048,667
15,166
13.96
6.44
n.d
13,425
n.d
11,001
22.03-
1,944,693
6,310
1,618,375
6,398
20.16
(1.38)
Televisa - Sociedade Tcnica de Obras e Projectos, Lda
931,439
696,208
33.79
18,970
18,650
1.72
41,368
30,065
37.60
7
26
7
35
Televisa
- Sociedade
Aries Consulting,
LdaTcnica de Obras e Projectos, Lda
1,099,061
22,028
1,067
,023
25,339
3.00
(13.07)
949,137
18,307
956,506
21,537
(0.77)
(15.00)
1,021,610
7,931
999,217
13,429
2.24
(40.94)
919,058
7,930
n.a
Portos do Norte, SA
759,950
91,123
137,326
8
27
n.a
48
Portos
do Norte,
VISAQUA,
SA SA
445,540
39,893
17,256-
131.18-
403,448
21,735
3,003-
623.78-
348,818
36,497
22,642-
61.19-
348,818
32,849
21,885-
50.10-
10
Tecnel Service, Lda
503,838
353,156
42.67
6,260
12,154
(48.49)
12,133
28,801
(57.87)
9
28
10
33
Tecnel
Service,
Lda de Mercado, Lda
Intercampus
- Estudos
304,713
13,439
160,616
12,793
89.72
5.05
282,253
7,161
146,730
6,572
92.36
8.96
189,482
20,319
40,872
17,102
363.60
18.81
189,482
21,403
40,872
18,716
363.60
14.36
10
375,916
369,393
1.77
94,264
53,988
74.60
147,023
80,822
81.91
10
29
8
30
Moambique
Car Rental,
Dora Consultores,
Lda Lda
668,028
33,114
705,848
38,635
(5.36)
(14.29)
164,796
23,124
94,384
32,165
74.60
(28.11)
278,515
26,708
394,936
32,472
(29.48)
(17.75)
188,972
22,588
159,061
29,765
18.80
(24.11)
11
497,871
422,968
17.71
(2,263)
10,321
(121.93)
5,504
16,651
(66.94)
11
30
9
n.a
KPMG
e Consultores,
SA
TecnicolAuditores
Moambique,
Lda
219,186
5,116
196,770
2,380
11.39
114.96
202,589
2,642
181,709
476
11.49
455.04
178,752
1,058
154,073
(577)
16.02
283.36
173,702
283
145,136
(577)
19.68
149.05
12
16
297,785
194,720
52.93
9,901
13,984
(29.20)
16,570
21,617
(23.35)
12
31
16
n.a
ES
Contact
Center Moambique
(ex.Select Vedior Moambique)
Howard
JohnsonAssociates
Mozambique
56,986
9,819
48,940
6,457
16.44
52.07
52,187
6,361
46,853
2,462
11.38
158.37
32,978
10,506
29,604
7,833
11.40
34.12
29,199
25,206
22,778
28,626
28.19
(11.95)
13
n.a
71,212
59,394
19.90
7,586
2,815
169.48
11,851
5,235
126.38
13
32
n.a
n.a
Business
Connexion
MC - Arquitetos,
Lda Mozambique, Lda
203,395
11,503
204,295
6,260
(0.44)
83.75
194,021
4,910
195,115
(528
(0.56)
1,029.92
94,015
16,571
102,500
10,432
(8.28)
58.85
94,015
16,571
102,500
(4,172)
(8.28)
497
.20
14
15
236,771
179,707
31.75
22,353
13,024
71.63
18,810
19,709
(4.56)
14
33
15
37
CONSULTEC
Somonav, Lda- Consultores Associados, Lda
202,727
39,094
169,841
49,546
19.36
(21.10)
184,399
37,851
147
,358
19,750
25.14
91.65
147
,158
40,504
122,294
41,384
20.33
(2.13)
147
,158
2,670
46,463
9,190
216.72
(70.95)
15
19
Cowi Moambique, Lda
216,921
125,232
73.22
18,968
(22,403)
184.67
26,358
(21,271)
223.92
15
34
19
41
Cowi
Moambique,
Lda
Euromoc.
Lda
66,287
2,879
47
,718
1,422
38.91
102.46
52,402
1,928
33,222
1,144
57.73
68.53
28,627
3,157
47
,718
1,764
(40.01)
78.97
13,845
523
20,474
594
(32.38)
(11.95)
16
18
229,675
183,584
25.11
4,556
4,527
0.64
7,317
7,761
(5.72)
16
35
18
44
Royal
PerfectHaskoning
Clean, E.I.DHV, Lda
165,284-
158,726-
4.13-
147,712-
143,151-
3.19-
132,037-
130,035-
1.54-
130,335-
129,527-
0.62-
17
17
166,528
204,982
(18.76)
1,489
(4,304)
134.60
2,038
(6,014)
133.89
17
36
17
n.a
IMOVISA
- Imobiliria
de Moambique, Lda
Ferro & Ferro,
Lda
207
,944
9,076
299,050
12,167
(30.47)
(25.40)
115,451
8,205
204,123
11,285
(43.44)
(27.29)
167
,613
6,587
260,209
9,664
(35.59)
(31.84)
164,177
5,797
257
,348
9,664
(36.20)
(40.01)
18
21
19
23
DINAME, E.E.
20
27
21
36
22
25
Clean Africa, Lda
2013
2012
85,263
1.94
248.44
260.99
363.60
Passivo Total
260,209
(35.59)
Total Liabilities
3
(10
101,343 Meticais)
(0.72)
167,613
47.62
39.41
1,240
210,814
(336)
40,872
Activo Lquido
299,050
(30.47)
Net Assets
(103 Meticais)
159,796
2.48
115,451
31 ,366 2,178,757
21
3,037
1,264
734,570
3.78
25.47
(40.91)
253.98
541
189,482
Empresa
IMOVISA
- Imobiliria de Moambique, Lda
Company
207,944
44
250,117
(132.63)
%13/12
18
Activo Corrente
204,123
(43.44)
Current Assets
(103 Meticais)
86,397
(1.31)
26
885,353
20.16(133,787)
1,023,917
16
Rank
6622012
439
423
5,446,350
4,340,882
72,616
2013
86,451
5,446,350
44,116 4,340,882
35,412
885,353
10,465
250,117
174
3,037
,366 2,178,757
54,415
42,807
734,570
27,927
25.47
24.58
253.98
5,914.37
39.41
27.12
210,814
40,804
248.44
(31.56)
184,706
32,576
183,186
11,059
0.83
194.57
1,023,917
6,310
512,281
6,398
99.87
(1.38)
871,491
12,327
5.46
(35.67)
88,578
108,183
(18.12)
6,166
4,918
25.38
9,068
7,232
25.39
18
37
21
n.a
DOMUS
Sociedade
SA
OLOGA --Sistemas
Informticos,
Lda
163,762
1,710
159,796
1,315
2.48
30.04
85,263
1,593
86,397
1,179
(1.31)
35.11
100,618
1,809
101,343
1,445
(0.72)
25.19
72,616
1,809
66,051
1,445
9.94
25.19
103,794
98,061
5.85
(14,730)
(9,111)
(61.67)
(14,730)
(9,111)
(61.67)
19
38
23
42
DINAME,
E.E.
Linkup Recruitment
Services
150,614
2,855
156,242
2,081
(3.60)
37.19
84,127
2,706
91,087
1,956
(7.64)
38.34
123,779
220,719
114,677
265,793
7.94
(16.96)
86,451
220,719
81,712
265,793
5.80
(16.96)
79,512
62,520
27.18
4,213
4,052
3.97
7,118
6,128
16.16
20
39
27
n.a
Danmo
Services de
System,
Lda e Gesto de Atendimento, S.A
SIGA - Sistemas
Informao
45,853
13,079
250.58
29,648
18,005
64.67
39,684
18,005
120.41
21
40
36
43
Parque
Industrial
do Beluluane,
Neoqumica
Moambique,
Lda SARL
11623/ A dcima
sexta edio / The sixteenth edition
Multiservios, Lda
28
24
n.a
25
32
80,618
1,059
61,980
655
30.07
61.68
24,179
560
16,204
367
49.22
52.59
53,816
2,577
39,301
2,169
36.93
18.81
44,116
154
35,412
1,735
24.58
(91.12)
149,853
8,741
107
,961
9,088
38.80
(3.82)
75,988
125
38,568
100
97.02
25.00
57
,906
8,557
45,485
9,088
27.31
(5.84)
10,465
8,557
174
8,771
5,914.37
(2.44)
58,448
712
48,176
1,210
21.32
(41.16)
54,415
712
42,807
1,210
27.12
(41.16)
72,179
66,934
7.84
3,728
3,205
16.32
6,068
4,531
33.92
22
41
25
n.a
Clean
Africa, Lda
F.M. Simes,
SA
71,304
1,992
56,604
1,902
25.97
4.73
43,368
1,992
34,682
1,902
25.04
4.73
58,568
60,199
(2.71)
1,819
2,796
(34.94)
3,012
4,271
(29.48)
23
42
28
n.a
Multiservios,
Lda Tcnica de Electricidade, Lda
SOTEL - Sociedade
61,675-
52,803-
16.80-
46,779-
38,905-
20.24-
266,662
150,131
77.62
(12,866)
(151,147)
91.49
113,857
(151,147)
175.33
24
43
n.a
n.a
Tcnica
IndustrialLda
Moambique, Lda
MC Consulting,
525,594
1,841
169,695
460
209.73
300.45
92,252
1,452
52,677
460
75.13
215.96
351,493
1,948
402,599
786
(12.69)
147.79
32,576
1,948
11,059
786
194.57
147.79
39,777
38,000
4.68
1,568
1,989
(21.17)
3,404
4,706
(27.67)
25
44
32
n.a
COTUR
Turismo e Agncia de Viagens, Lda
Tecninfo,- Comrcio
Lda
16,143
3,032
15,166
2,843
6.44
6.65
13,425
2,744
11,001
2,888
22.03
(4.99)
6,310
412
6,398
491
(1.38)
(16.09)
6,310
412
6,398
491
(1.38)
(16.09)
The 50,308
sixteenth43,255
edition /16.31
A dcima
sexta
edio
/ 117
27,927
40,804
(31.56)
28
43
33
n.a
Intercampus
- Estudos
MC Consulting,
Lda de Mercado, Lda
13,439
12,793
(2,531)
5.05
(544)7,161
6,572
(365.37)
8.96220
20,319
(336)
17,102
165.29
18.81
54121,403
18,716
(336)
29
44
30
n.a
Dora
Consultores,
Lda
Tecninfo,
Lda
33,114
38,635
4,069 (14.29)
23,124
4,704
32,165
(13.50)
(28.11)183
26,708
782
32,472
(76.60)
(17.75)
26922,588
29,765
1,150
(24.11)
(76.61)
30
45
n.a
47
Tecnicol
Moambique,
Lavandaria
Imperial Lda
455.04 32
1,058
168
(577)
(80.96)
283.36
37 283
185(577)
149.05
(80.01)
31
46
n.a
Howard
JohnsonAssociates
Mozambique
Limpers,
Lda
(11.95)
(310.62)
32
n.a
11,503
33
37
Somonav, Lda
14.36
260.99
5,116
2,380
4,311
114.96
3,2552,642
476
32.44
9,819
6,457
2,672
52.07
6626,361
2,462
303.63
34.12
(238)25,206
28,626
113
6,260
83.75
4,910
(528
1,029.92
16,571
10,432
58.85
16,571
(4,172)
497.20
39,094
49,546
(21.10)
37,851
19,750
91.65
40,504
41,384
(2.13)
2,670
9,190
(70.95)
Euromoc. Lda
34
41 / Balance
Balano
Sheet
158.37
(238)
10,50682
7,833
(390.24)
2,879
1,422
102.46
1,928
1,144
68.53
3,157
1,764
78.97
523
594
(11.95)
35
44
Perfect Clean, E.I.
36
n.a
Ferro
& Ferro, Lda
Company
9,076
12,167
(25.40)
Net Assets
8,205
5,797
1,710
(103 Meticais)
1,315
30.04
9,664
(31.84)
Total Liabilities
1,593
Linkup Recruitment Services
2013
2,855
2012
2,081
%13/12
37.19
2013
2,706
2012
1,956
%13/12
38.34
2013
220,719
2012
265,793
%13/12
(16.96)
2012
265,793
%13/12
(16.96)
43,578,153
1,059
38,516,805
655
13.14
61.68
5,584,970
560
4,864,662
367
14.81
52.59
25,046,002
2,577
20,122,269
2,169
24.47
18.81
4,148,665
8,741
4,112,463
9,088
0.88
(3.82)
1,488,049
125
1,480,325
100
0.52
25.00
1,900,080
8,557
2,002,195
9,088
(5.10)
(5.84)
Rank
Empresa
Activo Lquido
Activo Corrente
11,285
(27.29)
Current Assets
(103 Meticais)
1,179
35.11
Passivo Total
6,587
(103 Meticais)
1,445
25.19
Passivo Corrente
9,664 Liabilities
(40.01)
Current
(103 Meticais)
1,445
25.19
37
n.a
2013
38
2012
42
1
39
2
n.a
EDM
Electricidade
de Moambique,
E.P. de Atendimento, S.A
SIGA -- Sistemas
de Informao
e Gesto
2
40
1
43
MOTRACO,
Neoqumica SARL
Moambique, Lda
3
41
3
n.a
Intelec
Holdings,
F.M. Simes,
SA SA
8,669,116
1,992
7,163,468
1,902
21.02
4.73
2,627
,354
1,992
2,465,121
1,902
6.58
4.73
3,341,063
712
2,229,381
1,210
49.87
(41.16)
4
42
4
n.a
G4S
Secure
Solutions,
Lda de Electricidade, Lda
SOTEL
- Sociedade
Tcnica
1,000,211-
896,411-
11.58-
844,175-
323,355-
161.07-
794,019-
775,142-
2.44-
5
43
6
n.a
Grindrod
Mozambique,
Lda
MC Consulting,
Lda
729,458
1,841
509,629
460
43.14
300.45
668,818
1,452
462,005
460
44.76
215.96
184,706
1,948
229,106
786
(19.38)
147.79
184,706
1,948
183,186
786
0.83
147
.79
6
44
5
n.a
guas
da Lda
Regio de Maputo, SA
Tecninfo,
1,195,044
3,032
1,048,667
2,843
13.96
6.65
n.d
2,744
n.d
2,888
(4.99)-
1,944,693
412
1,618,375
491
20.16
(16.09)
1,023,917
412
512,281
491
99.87
(16.09)
7
45
7
47
Televisa
- Sociedade
Lavandaria
Imperial Tcnica de Obras e Projectos, Lda
1,099,061
4,828
1,067
,023
2,202
3.00
119.26
949,137
1,099
956,506
1,015
(0.77)
8.24
1,021,610
3,107
999,217
496
2.24
526.39
919,058
286
871,491
496
5.46
(42.30)
8
46
n.a
n.a
Portos
doLda
Norte, SA
Limpers,
445,540
2,916
2,613-
11.60-
403,448
1,534
2,607-
(41.16)-
348,818
2,807
2,266-
23.87-
348,818
2,807
2,266-
23.87-
10
Tecnel Service, Lda
304,713
160,616
89.72
282,253
146,730
92.36
189,482
40,872
363.60
189,482
40,872
363.60
10
668,028
705,848
(5.36)
164,796
94,384
74.60
278,515
394,936
(29.48)
188,972
159,061
18.80
219,186
196,770
11.39
202,589
181,709
11.49
178,752
154,073
16.02
173,702
145,136
19.68
56,986
48,940
16.44
52,187
46,853
11.38
32,978
29,604
11.40
29,199
22,778
28.19
203,395
204,295
(0.44)
194,021
195,115
(0.56)
Profits/Revenue
94,015
102,500
Rent. Net
Asset
(8.28)
202,727
169,841
19.36
184,399
147,358
(%)
25.14
66,287
47,718
38.91
52,402
33,2222013
57.73
KPMG Auditores
11Balano
9 / Balance
Sheete Consultores, SAIndicadores
12
16
13

n.a Shareholdersfunds
(103 Meticais)
CONSULTEC
- Consultores Associados, Lda
15
14
/ Ratios
Capitais Prprios
Rank
Empresa
Company
2013
2012
EDM - Electricidade165,284
de Moambique,
E.P.
158,726
MOTRACO, SARL 207,944
299,050
3
5,328,052
7.98 de Gesto Imobiliria,
DOMUS - Sociedade
SA3
18
21 4,934,087
15 201319
2012
%13/12 Lda
Cowi
Moambique,
18,532,151
0.75
Royal Haskoning
DHV, Lda
16
18 18,394,536
2 Lda
2,248,586
6.55 de Moambique,
IMOVISA - Imobiliria
17
17 2,110,268
1,809
Rent VN
Rent. A. Liq.
(%)
122,294
147,158
2012 28,6272013
2012
47,718
1,809
2013
220,719
5,446,350
154 4,340,882
1,735
885,353
8,557
250,117
8,771
3,037,366
712 2,178,757
1,210
734,570-
Rent. C. P.
S/hs 94,015
Funds
(%)
147,158
210,814-
25.47
(91.12)
253.98
(2.44)
39.41
(41.16)
248.44-
Liquidez Geral
102,500
Current(8.28)
Ratio
46,463
(%)
216.72
2013
(40.01)
2012
13,845
2013
20,474
2012
(32.38)
20.33
4.13
147,712
(0.67)
143,151
3.19
(0.16)
1.20 132,037
0.27
130,035
(0.37)
1.54
0.69
130,335
1.03
129,527
1.12
0.62
(30.47)
115,451
204,1232.82 (43.44)
2.54 167,6135.85
5.68
260,209
11.13
(35.59)
11.75
164,177
2571.68
,348
5.92
(36.20)
1.13
9.94
163,762
159,796
2.48
85,263
86,3975.53
(1.31)
7.50 100,6184.61
6.13
101,343
7.78
(0.72)
10.15
72,616
0.87
66,051
206,19223
19
121,268
DINAME, E.E.70.03
G4S Secure Solutions,

Lda
150,614
156,242
(3.60)
84,127
91,0875.90
(7.64)
5.70 123,7798.28
7.96
114,677
50.59
7
.94
71.34
86,451
1.15
81,712
1.53
5.80
544,75227
20
280,523
94.19
Danmo Services
System, Lda
Grindrod Mozambique,
Lda
80,618
61,980
30.07
24,179
33.94
21.16 49.22 19.92 53,816
16,204
35.16
39,301
60.00
36.93
103.96
44,116
3.62
35,412
2.52
24.58
(569,709)
(31.58)
Parque Industrial
do Beluluane, SARL 6
38.80
5,914.37 -
guas da Regio de149,853

Maputo, SA 107,961
75,988
(15.77)
38,568
(15.06)
97.02 (10.55) 57,906
(11.31)
45,485
.28
2727
.31
23.25
10,465
174-
2277,45125
67,805
14.23
Clean
Africa, Lda
Televisa - Sociedade71,304
Tcnica de Obras
e Projectos,
Lda
56,604
25.97
43,368
34,6821.80 25.04
2.41 58,4481.73
1.75
48,176
26.12
21.32
28.47
54,415
1.03
42,807
1.10
27.12
2396,72328
Multiservios,
Lda -
n.a
Portos do Norte, SA61,675
52,803
16.80
46,779
10.14 20.24
38,905
20.45
- 50,308
43,255-
16.31 -
27,927-
1.16
40,804
(31.56) -
115,231n.a
24
119,744Industrial
(3.77)
Tcnica
Moambique, Lda 9
10
Tecnel Service, Lda

525,594
169,695
209.73
92,252
52,6771.20 75.13
3.15351,4932.05
7.57
402,599
5.33
(12.69)
11.47
32,576
1.49
11,059
3.59
194.57
316,00132
25
Moambique Car Rental,

Lda
8
310,911
1.64 Turismo e Agncia10de Viagens,
COTUR - Comrcio
Lda
16,143
15,166
6.44
13,425
18.48 22.03 11.60

11,001
14.11
6,310
7.65
6,398
30.07
(1.38)
19.02
6,310
0.87
6,398
0.59
(1.38)
2640,43435
42,697
(5.30)
Aries
Consulting,
Lda
11
KPMG Auditores e Consultores,

SA
22,028
25,339
(13.07)
18,307
(0.45) (15.00)
21,537
(1.03)
7,931
5.25
13,429
(5.44)
(40.94)
27
.50
7,930
1.17
12,327
1.25
(35.67)
24,00848
27
19,335 SA24.17
VISAQUA,
12
16
ES Contact Center Moambique

(ex.Select
Moambique)
39,893
17,256 Vedior
131.18
21,735
3,0033.15 623.78
17.37
6.76 36,497
28.57
22,642
45.69
61.19
113.29
32,849
1.79
21,885
2.06
50.10
109,38133
28
13
101,795
7.45
Intercampus - Estudos
de Mercado, Lda
n.a
Business Connexion13,439
Mozambique,12,793
Lda
5.05
7,161
6,5722.70
8.96
0.94 20,3193.73
1.38
17,102
7.18
18.81
5.53
21,403
2.06
18,716
1.90
14.36
2955,56930
47,547
16.87Lda
Dora
Consultores,
14
15
CONSULTEC - Consultores
33,114 Associados,
38,635Lda (14.29)
23,124
32,1658.75 (28.11)
11.03
6.42 26,708
7.67
32,472
(1743.36
.75)
30.21
22,588
1.25
29,765
3.17
(24.11)
3037,660n.a
(1,183) Moambique,
3,283.43
Tecnicol
Lda
15
19
Cowi Moambique, Lda

5,116
2,380
114.96
2,642
28.61
1,058
(46.95)
(577)
104.00
283.36
(230.89)
283
3.78
(577)
1.62
149.05
3133,247n.a
16
28,691 JohnsonAssociates
15.88
Howard
Mozambique
18
Royal Haskoning DHV,9,819

Lda
6,457
52.07
6,361
3240,331n.a
38,841
3.84
MC
- Arquitetos,
Lda
17
17
IMOVISA - Imobiliria11,503
de Moambique,
Lda
6,260
83.75
4,910
3363,14437
58,453 Lda 8.03

Somonav,
18
21
DOMUS - Sociedade39,094
49,546 SA(21.10)
37,851
3426,83541
41,566 Lda
(35.44)
Euromoc.
19
23
DINAME, E.E.
3526,80244
22,589Clean,18.65
Perfect
E.I.
20
27

-
3691,947n.a
62,476
.17
Ferro
& Ferro, 47
Lda
21
3712,856n.a
3811,36742
9,548Recruitment
19.05 Services
Linkup
(749,650)
21
36
2,879
2.35
476 7.99 455.04 (13.19)
2.37 10,5062.76
2.85
7,833
14.71
34.12
17.13
25,206
1.13
28,626
1.11
(11.95)
(5280.87
1,029.92 (2.21) 16,5710.72
(1.44)
10,432
3.76
58.85
(13.98)
16,571
0.70
(4,172)
4970.79
.20
4.04 40,5043.77
3.08
41,384
10.14
(2.13)
8.55
2,670
1.17
9,190
1.31
(70.95)
2,4621.92 158.37
19,7506.22
91.65
(9.78)
3,157
(5.83)
1,764
(43.07)
78.97
(19.75)
523
0.97
594
1.11
(11.95)
5.93
5.23
-
6.54-
17.06
-
17.96-
0.55-
0.46
-
38.21 (27.29) 54.13

11,285
19.78
6,587
16.68
9,664
38.40
(31.84)
33.67
5,797
7.26
9,664
221.66
(40.01)
(15.82) 68.53 (10.12)

1,144
1,422
102.46
1,928
36
Parque Industrial do Beluluane,

SARL
9,076
12,167
(25.40)
8,205
8,428 - Sistemas
52.54 Informticos, Lda22
OLOGA
25
Clean Africa, Lda
1,710
1,315
30.04
1,593
1,1794.82 35.11
4.40
1,8095.23
5.66
1,445
35.03
25.19
46.96
1,809
0.80
1,445
0.81
25.19
23
28
Multiservios, Lda
2,855
2,081
37.19
2,706
1,9562.92 38.34
4.35 220,7192.95
5.30
265,793
17.39
(16.96)
34.31
220,719
1.68
265,793
0.95
(16.96)
Tcnica Industrial
Moambique,
Lda 655
24 de n.a
174,102n.a (232,722)
174.81
SIGA - Sistemas
de Informao e Gesto
Atendimento,
S.A
39
1,059
61.68
560
(23.16) 52.59(622.64)
367
(2.45)
2,577
(89.07)
2,169
43.90
18.81
129.89
154
2.83
1,735
4.76
(91.12)
125
1003.63 25.00
4.66
8,5579.71
13.11
9,088
16.86
(5.84)
24.58
8,557
2.13
8,771
1.72
(2.44)
1,9026.12
4.73 10.33
7129.93
14.98
1,210
16.83
(41.16)
37712
.91
2.31
1,210
1.75
(41.16)
24.96
-
(218.38)
-
22.02
-
(41.32)-
(882.27)
-
391.44-
0.66-
0.14
-
(19.13)
1,948
10.26
786
45.96
147
.79
(26.42)
1,948
0.33
786
1470.35
.79
40 9,83443
8,768
12.16
Neoqumica
Moambique,
Lda
25
32
COTUR - Comrcio Turismo

de Viagens,
Lda
8,741 e Agncia
9,088
(3.82)
4114,098n.a
11,909
F.M.
Simes, 18.38
SA
26
35
Aries Consulting, Lda1,992
42 3,396n.a
27
48
(5,387)- Sociedade
163.04 Tcnica de Electricidade,
SOTEL
Lda
43(6,880)n.a
(4,309)
(59.67)
MC
Consulting,
Lda
28
44 6,407n.a
6,163 Lda 3.96

Tecninfo,
45 4,05947
2,957 Imperial
37.27
Lavandaria
46 (687)n.a
(1,376) Lda 50.07

Limpers,
VISAQUA, SA
1,902
Intercampus - Estudos
de Mercado, Lda
1,841
460
300.45
1,452
460(7.90) 215.96
3.26
29
30
Dora Consultores, Lda3,032
2,843
6.65
2,744
2,8880.54 (4.99)
3.54
4120.50
4.42
491
2.64
(16.09)
32.13
412
1.02
491
1.08
(16.09)
30
n.a
Tecnicol Moambique,
Lda
4,828
2,202
119.26
1,099
1,0152.77
3.29
14.64
3,107
35.25
496
21.35
526.39
56.75
286
9.34
496
(0.82)
(42.30)
11.60
1,534
2,6073.94 (41.16)
31
n.a
Howard JohnsonAssociates
2,916 Mozambique
2,613
(4,171)
(21.53)
32
n.a
(1,410)
8,162
(117.28)
33
37
2,487
(99)
Capitais Prprios
2,504
(0.68)
Shareholdersfunds
(103 Meticais)
(131)
24.43
1,992
8.24
1.11
10.32
2,807
1.52
2,266
(98.21)
23.87
(14.24)
2,807
0.25
2,266
0.09
23.87
(3.81)
(47.70)
(7.80)
(92.57)
19.42
277.87
0.30
0.13
Somonav, Lda
(41.54)
4.50
(24.48)
2.74
(283.53)
17.76
14.18
2.15
Lda
34
41 Euromoc.
Indicadores
/ Ratios
(0.32)
6.76
(2.19)
46.55
20.32
(98.39)
3.69
1.93
2.45
5.31
35
44
Perfect Clean, E.I.
36
n.a
Ferro
& Ferro, Lda
Company
n.a
Rank
37
2013
38
Empresa
2012
42 Linkup Recruitment Services
Rent VN
0.12
0.01
Profits/Revenue
(%) 0.28
0.39
Rent. A. Liq.
0.15 Net Asset
0.01
Rent.
(%)
1.81
1.60
2013
10.99
2012
12.65
2013
28.69
2012
40.51
(0.67)
(0.06)
1.20
(328.84)
2013
2,634
2012
1,815
18,532,151
(1,519)
18,394,536
(1,514)
0.75
(0.33)
1
39
2
n.a
EDM
Electricidade
de Moambique,
E.P. de Atendimento, S.A
SIGA -- Sistemas
de Informao
e Gesto
2,248,586
184
2,110,268
318
6.55
(42.14)
2
40
1
43
MOTRACO,
Neoqumica SARL
Moambique, Lda
5,328,052
50,641
4,934,087
7.98
1,309 3,768.68
3
41
3
n.a
Intelec
Holdings,
F.M. Simes,
SA SA
5.53
2.98
%13/12
45.12
33
(5,069)
(278)
(342) Sheet
18.71
Balano
/ Balance
4.73
-4.75
Rent. C. P.
0.04
0.56 S/hs Funds
(26.96)
(%)
(32.06)
0.88
(%)
0.82
2013
36.82
2012
70.54
2013
0.01
2012
0.01
(0.16)
(0.38)
0.27
(186.26)
(0.37)
0.26
0.69
161.16
1.03
3.64
1.12
0.21
5.68
(2.98)
11.13
(53,301.59)
11.75
(56.28)
1.68
0.01
5.92
0.01
7.50
5.54
4.61
8.13
6.13
18.30
7.78
0.62
10.15
53.17
0.87
2.80
1.13
1.57
5.90
1.10
5.70
0.70
8.28-
7.96-
50.59-
71.34-
1.15-
1.53-
21.16
4.81
19.92
(129.54)
33.94
11.93
35.16
(73.15)
60.00
(101.41)
103.96
206.13
3.62
0.75
2.52
0.58
(15.77)
4.18
(10.55)
13.35
(15.06)
6.04
(11.31)
27.51
27
.28
7.36
23.25
44.01
6.66-
5.88-
1.80
0.74
2.41
4.88
1.73
0.66
1.75
7.63
26.12
1.87
28.47
10.41
1.03
3.84
1.10
2.05
121,268-
70.03-
4
42
4
n.a
G4S
Secure
Solutions,
Lda de Electricidade, Lda
SOTEL
- Sociedade
Tcnica
544,752
(107)
280,523
(326)
94.19
67.29
5
43
6
n.a
Grindrod
Mozambique,
Lda
MC Consulting,
Lda
(749,650)
2,621
(569,709)
2,352
(31.58)
11.44
6
44
5
n.a
guas
da Lda
Regio de Maputo, SA
Tecninfo,
77
,451
1,721
67
,805
1,706
14.23
0.89
7
45
7
47
Televisa
- Sociedade
Lavandaria
Imperial Tcnica de Obras e Projectos, Lda
96,723
109
347-
(68.59)-
8
46
n.a
n.a
Portos
doLda
Norte, SA
Limpers,
10.14
(9.78)
10.58-
20.45
(8.16)
3.14-
(104.39)-
47.26-
1.16
0.55
1.15-
115,231
119,744
(3.77)
10
Tecnel Service, Lda
1.20
3.15
2.05
7.57
5.33
11.47
1.49
3.59
316,001
310,911
1.64
10
18.48
11.60
14.11
7.65
30.07
19.02
0.87
0.59
40,434
42,697
(5.30)
11
(0.45)
2.35
(1.03)
5.25
(5.44)
27.50
1.17
1.25
24,008
19,335
24.17
12
16
3.15
6.76
17.37
28.57
45.69
113.29
1.79
2.06
109,381
101,795
7.45
13
n.a
2.70
0.94
3.73
1.38
7.18
5.53
2.06
1.90
55,569
47,547
16.87
14
15
8.75
6.42
11.03
7.67
43.36
30.21
1.25
3.17
1.62
37,660
(1,183) 3,283.43
15
19
Cowi Moambique, Lda
7.99
(13.19)
28.61
(46.95)
104.00
(230.89)
3.78
33,247
28,691
15.88
16
18
1.92
2.37
2.76
2.85
14.71
17.13
1.13
1.11
40,331
38,841
3.84
17
17
0.87
(2.21)
0.72
(1.44)
3.76
(13.98)
0.70
0.79
1.31
63,144
58,453
8.03
18
21
41,566
(35.44)
19
23
DINAME, E.E.
26,802
22,589
18.65
20
27
91,947
62,476
47.17
21
36
12,856
8,428
52.54
22
25
Clean Africa, Lda
28 Multiservios,
9,548sexta
19.05
118 11,367
/ A dcima
edio / The23sixteenth
editionLda
174,102
(232,722)
174.81
24
n.a
9,834
8,768
12.16
25
32
CM
MY
CY
CMY
Liquidez Geral
206,192-
26,835
1.17
1.42
Current Ratio
5.85
2.54 (1,530.57)
(4.43)
2.82
(2,300.33)
6.22
4.04
3.77
3.08
10.14
8.55
1.17
(15.82)
(10.12)
(9.78)
(5.83)
(43.07)
(19.75)
0.97
1.11
4.75
5.93
5.23
6.54
17.06
17.96
0.55
0.46
38.21
54.13
19.78
16.68
38.40
33.67
7.26
221.66
4.82
4.40
5.23
5.66
35.03
46.96
0.80
0.81
2.92
4.35
2.95
5.30
17.39
34.31
1.68
0.95
(23.16)
(622.64)
(2.45)
(89.07)
43.90
129.89
2.83
4.76
3.63
4.66
9.71
13.11
16.86
24.58
2.13
1.72
de Inhambane, Niassa e Zambzia. (Dados do Centro de

Promoo de Investimentos, 2013)
Dados do Balano do PES 2013 indicam que, o sector de
transportes e comunicaes registou um crescimento de
12.2% abaixo do planificado para o ano de 2013 (14.6%),
tendo se notabilizado o ramo dos transportes ferrovirios
que cresceu cerca de 13% como resultado do aumento
de transporte de carvo e de mercadorias em trnsito em
consequncia do aumento da capacidade de manuseamento
do Porto da Beira, que passou a receber navios 24 horas por
dia e melhorada a sua capacidade de manuseamento de
carga de 6.8 para 9.6 milhes de toneladas mtricas por ano.
Transporte e
Armazenagem
Transport and
Storage
Por / By: Drcio Maumana,
Judy Jamine and Wendy
Massavanhane
O sector de transportes tem a capacidade de proporcionar uma vasta disponibilidade de bens ao permitirem o
acesso a produtos que de outra maneira no estariam disponveis para as sociedades, contribuindo deste modo
para melhorar a vida da populao e, reduzindo a distncia entre a zona rural e urbana.
The transport sector is able to provide a wide availability of goods and allow companies access to products that would
not otherwise be available to them, thereby contributing to improving the lives of the population and bridging the gap
between rural and urban area.
A nvel regional, a SADC criou programas com vista o
desenvolvimento do sector de transportes que consistem
em tornar possvel o ambiente poltico/regulador,
construo de novos postos fronteirios, construo de
novas infraestruturas rodovirias e ferrovirias, melhorar
as existentes, desenvolver novos projectos de aviao e
projectos de portos e transporte martimo e fluvial.
As maiores preocupaes de infraestrutura que so
transversais a todos os ramos dos transportes ao nvel
da SADC destacam-se: (i) as condies inadequadas e a
falta de manuteno das vias rodovirias; (ii) os atrasos
nos centros urbanos que se devem ao facto de no
terem sido ainda concludas as construes das vias
alternativas; (ii) as altas taxas de acidentes de viao;
(iv) necessidade de modernizao; (v) inconsistncia de
servios, e; (vi) atrasos na facilitao dos transportes.
De modo a ultrapassar estas preocupaes, a SADC
traou um plano de desenvolvimento modal para
o sector de transportes com total de 208 projectos
para serem implementados at o ano de 2027, que
constitudo pelo seguinte: (i) 18 Projectos de postos
fronteirios; (ii) 72 Projectos rodovirios; (iii) 31
Projectos ferrovirios; (iv) 23 Projectos da aviao, e; (v)
64 Projectos martimos e de portos. (Plano Director de
Desenvolvimento de Infra-estrutura Regional Plano do
Sector de Transportes 2012)
Para o ano em anlise, 2013, foram aprovados cerca de 73
projectos para o sector de transportes que criaram 1,593
novos postos de trabalho. Os projectos abrangeram quase
todas as provncias do pas exceptuando as provncias
At regional level SADC has created programs aimed at

the development of the transport sector. Those consist on
facilitating the political/regulatory environment, construction
of new border posts, construction of new road and rail
infrastructures, improvement of existing infrastructures
and development of new aviation projects and ports and
sea and river transport projects.
The greatest concerns in relation to infrastructures,
affecting all transport sectors at the SADC level are: (i)
inadequate road conditions and a lack of road maintenance;
(ii) delays in developments in urban centres due to the
fact bypass constructions have not been completed; (iii)
high rates of traffic accidents; (iv) need for modernisation;
(v) inconsistency in services, and; (vi) delays in transport
facilitation. In order to overcome these concerns, SADC
outlined a plan for the modal development of the transport
sector with a total of 208 projects to be implemented by the
year 2027 as follows: (i) 18 frontier post projects; (ii) 72 road
projects; (iii) 31 rail projects; (iv) 23 aviation projects; and (v)
64 ports and maritime projects. (Master plan for Regional
Infrastructure Development Transport Sector Plan 2012).
In 2013, the year under review, around 73 projects were
approved for the transport sector creating 1.593 new
employments. The projects covered almost all the countrys
provinces except Inhambane, Zambzia and Niassa. (Data
from the Investment Promotion Centre, 2013)
O subsector do transporte rodovirio que cresceu

cerca de 1.2% contra os 10.6% do planificado. O
nvel de crescimento deste sector foi afectado pelo
congestionamento cada vez mais crescente nas rodovias
que, contribuem para a reduo da frequncia de veculos
tanto de transporte de carga como de passageiros. Um
outro factor que influenciou o modesto crescimento deste
subsector prendeu-se com a intransitabilidade que se
registou na Estrada N1. (Balano do PES, 2013)
Os servios relacionados com o transporte obtiveram um
desempenho positivo de 12.8%, onde foram manuseadas
nos portos nacionais cerca de 30.1 milhes de toneladas
mtricas contra 25.7 milhes manuseadas em 2012.
Por seu turno, o transporte Ferro Porturio registou um
crescimento de 13% devido a abundncia do carvo de
Tete. O crescimento registado resultou da logstica das
exportaes de carvo, magnetite, ferro, crmio, acar e
carga contentorizada. (Balano do PES 2013)
Dados da tabela abaixo ilustram melhor o desempenho do
sector deTransportes e Comunicaes e a previso para o
seu crescimento em 2014.
No ano de 2013 o ramo dos transportes areos registou
um crescimento de 11.2%, este crescimento deveu-se
essencialmente a implementao do Plano Estratgico
da LAM, que prev a expanso de frequncias nas rotas
regionais assim como o estabelecimento de parcerias de code
share com todos os operadores que voam para Moambique.
A introduo da frota dos Embraer 145 possibilitou o
aumento de frequncias nas rotas tradicionais, assim como
a realizao de voos dedicados para alguns mercados
que anteriormente eram efectuados em combinao com
outros destinos e, adicionalmente, foram incrementadas as
frequncias de voos na rotaTete/Johannesburg de modo a
responder a grande demanda registada e foram tambm
iniciados voos directos entre Nampula/Joanesburgo e
Nampula Nairobi. (Balano do PES, 2013).
No ramo de Transportes de Oleodutos (PIPELINE),
verificou-se um crescimento de cerca de 0.5%, o
que se afigura ptimo, se considerando as paragens
tcnicas obrigatrias, os trabalhos de substituio
da tubagem e, em alguns casos, a falta de produto
na Beira. Por outro lado, o transporte Martimo
registou um crescimento de 67.6% como resultado
da revitalizao da cabotagem nacional em parceria
com o sector privado, que culminou com a entrada
The review of the 2013 PES indicates that the transport and
communications sector recorded a growth of 12.2%, though
below the 14.6% planned for the year. The rail transportation
grew around 13% as a result of increases in the transport
of coal and goods in transit made possible through the
increased handling capacity of the port of Beira which now
receives ships 24 hours a day and improved its handling
capacity from 6.8 to 9.6 million metric tons per year.
The road transport sub-sector grew by 1.2% compared to
the 10.6% planned. The level of growth in this sector was
affected by the increasingly growing congestion on the roads
which contributed to the reduction in the numbers of trips
by both cargo transport and passenger transport vehicles.
Another factor that influenced the modest growth in this
subsector was the difficulties in use of the N1 Road. (Review
of the Economic and Social Plan 2013)
Transport related services achieved a positive growth of
12.8%, with the national ports handling about 30.1 million
metric tons compared to the 25.7 million handled in 2012.
For its part, Port railway transport registered growth of
13% due mainly to the abundance of coal from Tete. The
growth also resulted from the export logistics relating to
coal, magnetite, iron, chromium, sugar and container cargo.
(Review of the Economic and Social Plan 2013)
Data from the table below illustrates more clearly the
performance of the transport and communications sector
and the forecast for growth in 2014.
In 2013 the air transport industry recorded growth of
11.2%, this growth was mainly due to the implementation
of LAMs strategic plan which envisaged the increase
in frequency of flights on regional routes as well as
the establishment of code share partnerships with all
operators who fly to Mozambique. The introduction of the
Embraer 145 fleet enabled an increase in frequency of
flights on traditional routes, new direct flights dedicated
to particular markets which were previously served via
other destinations, an increase in the frequency of flights
on the Tete /Johannesburg route in response to the
strong demand registered and the introduction of direct
flights between Nampula/Johannesburg and Nampula/
Nairobi. (Review of the Economic and Social Plan 2013)
Pipeline Transport saw a growth of about 0.5%, which
is good when taking into account compulsory technical
stoppages, pipe replacement works and some product
shortages in Beira. In contrast shipping recorded growth
of 67.6% as a result of the revitalisation of national
cabotage (shipping on coastal routes) in partnership with
the private sector, this culminated with the establishment
em funcionamento de uma nova empresa em Agosto

de 2013, com uma frota composta por trs unidades.
(Balano do PES, 2013)
of a new company which started operations in August

2013 with a fleet of 3 ships. (Review of the Economic
and Social Plan 2013)
Dados da tabela abaixo ilustram melhor o desempenho do

sector deTransportes e Comunicaes e a previso para o seu
crescimento em 2014.
Data from the table below illustrates more clearly the

performance of the transport and communications
sector and the forecast for growth in 2014.
Taxa de Crescimento / Growth rate (%)
Designao / Designation
Ferrovirio / Railwayy
Plano / Plan 2013

65.2
Balano / Balance 2013

13.0
Rodovirio / Road transport
10.6
1.2
Oleodutos e Gasedutos / Oil and gase pipelines
48.6
0.5
210.1
67.6
Transportes Martimos / Maritime transport

Transportes Areos / Air transport
6.9
11.2
22.6
12.0
3.9
28.5
Total da Produo / Total Production
7.8
6.2
Servios Anexos e Auxiliares de Transportes / Supporting and Auxiliary
Em termos de emprego, o destaque vai para o CFM,

E.P., que teve um aumento dos seus efectivos na
ordem de 54.96%, tendo empregado um total de
5,656 trabalhadores, seguido pela Empresa Municipal
de Transportes Pblicos de Maputo, E.P (ex. TPM)
com 1,443 trabalhadores e pelos Aeroportos de
Moambique, E.P. com 806 trabalhadores empregados.
As empresas que constam do ranking das 100 Maiores
Empresas, foram responsveis pelo emprego de 12,806
trabalhadores (97.67%)
Em termos de rentabilidade de volume de negcios por
trabalhador, destacam-se a STEMA, SA, com a maior taxa de
crescimento de 30.37%, a MPDC, S.A com 26.90% e a MEX Moambique Expresso, SARL, com 25.05%.
For the year 2014, a growth for the transport sector in the
order of 13.6% is predicted as a result of the dynamics of coal
transportation from Tete, the expected increase in the flow of
goods in transit, imports and exports to/from countries in the
hinterland, the commissioning of 12 passenger carriages for
the Northern Corridor rail system and the full year effect of the
acquisition and introduction into operation of 70 passenger
carriages in the Southern rail system during the last quarter of
2013. (Economic and Social Plan 2014)
Na presente edio, o sector deTransportes contou com a

participao de 23 empresas, das quais 17 empresas constam
do ranking das 100 Maiores Empresas de Moambique.
In this edition, the transport sector had the participation

of 23 companies, of which 17 companies are listed in the
top 100 Companies of Mozambique.
O total do volume de negcios das empresas

participantes foi de MZN 34,057 milhes, contra os
MZN 29,761 milhes registados em 2012. A Maputo Car
Terminal, Lda registou a maior taxa de crescimento de
volume de negcio com 78% (passando de MZN 222
milhes em 2012 para MZN 396 milhes em 2013).
The total revenue of the participating companies was

MZN 34.057 million, compared to MZN 29.761 million
recorded in 2012. Maputo Car Terminal, Lda recorded the
highest growth rate of revenue with 78% (from MZN 222
million in 2012 to 396 million in 2013).

lucros de cerca de MZN 3,966 milhes, o que representa
um aumento de 25.06% em relao a 2012. Os CFM, E.P
lidera o sector com um lucro aproximado de MZN 1,672
milhes, seguido pela Cornelder de Moambique, SA com
um lucro aproximado de MZN 1,317 Milhes e pela MPDC,
SA com um lucro de MZN 639.6 milhes.
In terms of net profits, the sector registered a profit

of approximately MZN 3,966 million, representing an
increase of 25.06% compared to 2012. CFM, E.P leads
the sector with an approximate profit of MZN 1,672
million, followed by Cornelder de Moambique, SA
with an approximate profit of MZN 1.317 million and the
MPDC, SA with a profit of MZN 639.6 million.
In terms revenue per employee, prominence goes to

STEMA, SA with the highest growth rate of 30.37%,
MPDC, SA with 26.90% and MEX - Moambique
Expresso, SARL with 25.05%.
Volume
Volumede
deNegcios
NegcioseeTrabalhadores
Trabalhadores//Revenue
Revenueand
andEmployees
Employees
Rank
Rank
2013
2013
1
1
2
2
3
3
4
4
5
5
6
6
7
7
8
8
9
9
10
10
11
11
12
12
13
13
14
14
15
15
16
16
17
17
18
18
19
19
20
20
21
21
22
22
23
23

Vol. de Neg.3/ Revenues
(10 3 Meticais)
(10 Meticais)
Empresa
Empresa
Company
Company
Fonte / Source: Balanco do PES 2013
Para o ano de 2014, prev-se um crescimento para o sector de

Transportes na ordem de 13.6%, como resultado da dinmica
do transporte do carvo deTete e pelo incremento do fluxo
de mercadorias em trnsito, das importaes e exportaes
dos pases do interland, bem como pela entrada em
funcionamento de 12 carruagens de passageiros no Sistema
Ferrovirio do Corredor do Norte, a aquisio e entrada em
funcionamento no ltimo trimestre de 2013 de 70 carruagens
de passageiros no Sistema Ferrovirio Sul. (PES, 2014)
With regard to employment, prominence goes to CFM,

E.P., with an increase in its workforce of approximately
54.96%, having employed a total of 5,656 employees,
followed by Empresa Municipal de Transportes Pblicos
de Maputo, E.P (former TPM) with 1,443 employees
and Aeroportos de Moambique, E.P. with 806 workers
employed. The companies listed in the Top 100
Companies ranking, were responsible of employing
12,806 employees (97.67%)
2012
2012
1
1
2
2
3
3
4
4
5
5
6
6
10
10
8
8
7
7
12
12
9
9
14
14
11
11
17
17
13
13
15
15
16
16
20
20
19
19
n.a
n.a
22
22
21
21
n.a
n.a

LAM - Linhas Areas de Moambique, SA
Manica Freight Services (Mo), SA
Transportes Lalgy, Lda
Aeroportos de Moambique, E.P.
MEX - Moambique Expresso, SARL
DHL Moambique, Lda
DHL Moambique, Lda
Empresa Municipal de Transportes Pblicos de Maputo, E.P.
Maputo Car Terminal, Lda
Transportes Carlos Mesquita, Lda
Matola Cargo Terminal, SARL
MAHS - Mozambique Airport Handling Services, Lda
STEMA - Silos e Terminal Graneleiro da Matola, SA
SERMOZ, Lda
SERMOZ, Lda
Indico Logistis, Lda
TTI - Tait Transportes Ibrica, Lda
CrossRoads Distribution, Lda
PERMAR-Peritagens e Conferncias Martimas, SARL
2013
2013
8,272,802
8,272,802
5,297,078
5,297,078
4,171,989
4,171,989
3,393,796
3,393,796
2,764,549
2,764,549
1,755,563
1,755,563
1,346,020
1,346,020
1,235,604
1,235,604
1,060,638
1,060,638
818,864
818,864
754,490
754,490
500,078
500,078
490,743
490,743
395,736
395,736
385,525
385,525
377,694
377,694
296,799
296,799
195,130
195,130
176,138
176,138
111,919
111,919
104,033
104,033
93,678
93,678
58,176
58,176
2012
2012
6,649,948
6,649,948
4,678,313
4,678,313
3,266,935
3,266,935
2,835,826
2,835,826
2,308,068
2,308,068
1,541,742
1,541,742
1,045,097
1,045,097
1,228,988
1,228,988
1,400,970
1,400,970
565,552
565,552
1,186,642
1,186,642
361,906
361,906
951,703
951,703
221,910
221,910
386,788
386,788
310,309
310,309
232,258
232,258
139,470
139,470
141,977
141,977
82,440
82,440
81,254
81,254
88,444
88,444
54,768
54,768
%13/12
%13/12
24.40
24.40
13.23
13.23
27.70
27.70
19.68
19.68
19.78
19.78
13.87
13.87
28.79
28.79
0.54
0.54
(24.29)
(24.29)
44.79
44.79
(36.42)
(36.42)
38.18
38.18
(48.44)
(48.44)
78.33
78.33
(0.33)
(0.33)
21.72
21.72
27.79
27.79
39.91
39.91
24.06
24.06
35.76
35.76
28.03
28.03
5.92
5.92
6.22
6.22
N Trabalhadores
N Trabalhadores
N of Employees
N of Employees
2013
2013
5,656
5,656
735
735
611
611
476
476
517
517
642
642
806
806
283
283
68
68
148
148
516
516
120
120
1,443
1,443
40
40
233
233
189
189
323
323
68
68
231
231
17
17
88
88
69
69
49
49
2012
2012
3,650
3,650
711
711
577
577
329
329
475
475
850
850
776
776
270
270
63
63
116
116
518
518
100
100
1,455
1,455
27
27
258
258
185
185
281
281
64
64
231
231
16
16
82
82
68
68
55
55
VN por Trabalhador
VN por Trabalhador
Revenue per
Employee
(103 3 Meticais)
(10 Meticais)
2013
2013
1,778
1,778
7,327
7,327
7,024
7,024
8,432
8,432
5,574
5,574
2,353
2,353
1,702
1,702
4,469
4,469
16,193
16,193
6,204
6,204
1,459
1,459
4,546
4,546
339
339
11,813
11,813
1,570
1,570
2,020
2,020
983
983
2,957
2,957
763
763
6,783
6,783
1,224
1,224
1,368
1,368
1,119
1,119
%13/12
%13/12
54.96
54.96
3.38
3.38
5.89
5.89
44.68
44.68
8.84
8.84
(24.47)
(24.47)
3.87
3.87
4.81
4.81
7.94
7.94
27.59
27.59
(0.39)
(0.39)
20.00
20.00
(0.82)
(0.82)
48.15
48.15
(9.69)
(9.69)
2.16
2.16
14.95
14.95
6.25
6.25
0.00
0.00
6.25
6.25
7.32
7.32
1.47
1.47
(10.91)
(10.91)
2012
2012
1,917
1,917
6,641
6,641
6,055
6,055
7,125
7,125
4,392
4,392
2,058
2,058
1,412
1,412
5,219
5,219
22,238
22,238
4,961
4,961
1,953
1,953
4,360
4,360
728
728
9,863
9,863
1,511
1,511
1,682
1,682
863
863
2,268
2,268
747
747
10,305
10,305
1,178
1,178
1,330
1,330
1,992
1,992
%13/12
%13/12
(7.24)
(7.24)
10.33
10.33
15.99
15.99
18.34
18.34
26.90
26.90
14.33
14.33
20.49
20.49
(14.37)
(14.37)
(27.18)
(27.18)
25.05
25.05
(25.29)
(25.29)
4.26
4.26
(53.45)
(53.45)
19.78
19.78
3.94
3.94
20.09
20.09
13.82
13.82
30.37
30.37
2.04
2.04
(34.18)
(34.18)
3.93
3.93
2.83
2.83
(43.82)
(43.82)
Custos
CustoseeRentabilidade
Rentabilidade//Operating
OperatingCost
Costand
andProfit
Profit
Rank
Rank
2013
2013
1
1
2
2
3
3
4
4
5
5
6
6
7
7
8
8
9
9
10
10
11
11
12
12
13
13
14
14
15
15
16
16
17
17
18
18
19
19
20
20
21
21
22
22
23
23
Empresa
Empresa
Company
Company
2012
2012
1
1
2
2
3
3
4
4
5
5
6
6
10
10
8
8
7
7
12
12
9
9
14
14
11
11
17
17
13
13
15
15
16
16
20
20
19
19
n.a
n.a
22
22
21
21
n.a
n.a

DHL Moambique, Lda
DHL Moambique, Lda
SERMOZ, Lda
SERMOZ, Lda
Resultados Lquidos
Resultados Lquidos
Net Profits
Net Profits
(103 3 Meticais)
(10 Meticais)
Custos Operacionais
Custos Operacionais
Operating Cost
Operating
Cost
(103 3 Meticais)
(10 Meticais)
2013
2013
6,396,850
6,396,850
5,020,543
5,020,543
2,749,804
2,749,804
732,571
732,571
1,936,574
1,936,574
1,569,870
1,569,870
1,339,439
1,339,439
383,459
383,459
131,847
131,847
797,710
797,710
1,061,823
1,061,823
472,134
472,134
666,841
666,841
156,649
156,649
356,957
356,957
209,802
209,802
242,358
242,358
157,352
157,352
171,654
171,654
104,807
104,807
102,013
102,013
71,016
71,016
55,112
55,112
2012
2012
5,560,228
5,560,228
4,239,686
4,239,686
2,083,799
2,083,799
672,089
672,089
1,565,556
1,565,556
1,181,836
1,181,836
1,174,907
1,174,907
756,299
756,299
110,316
110,316
562,256
562,256
1,517,755
1,517,755
372,696
372,696
758,838
758,838
97,950
97,950
355,502
355,502
155,830
155,830
197,721
197,721
126,372
126,372
136,698
136,698
77,920
77,920
79,617
79,617
71,556
71,556
54,849
54,849
%13/12
%13/12
15.05
15.05
18.42
18.42
31.96
31.96
9.00
9.00
23.70
23.70
32.83
32.83
14.00
14.00
(49.30)
(49.30)
19.52
19.52
41.88
41.88
(30.04)
(30.04)
26.68
26.68
(12.12)
(12.12)
59.93
59.93
0.41
0.41
34.64
34.64
22.58
22.58
24.51
24.51
25.57
25.57
34.51
34.51
28.13
28.13
(0.75)
(0.75)
0.48
0.48
2013
2013
1,672,227
1,672,227
30,725
30,725
1,317,379
1,317,379
10,201
10,201
639,587
639,587
16,452
16,452
(167,560)
(167,560)
605,427
605,427
31,274
31,274
2,906
2,906
(430,031)
(430,031)
27,944
27,944
(174,174)
(174,174)
165,821
165,821
4,994
4,994
131,043
131,043
24,056
24,056
36,149
36,149
3,208
3,208
3,460
3,460
1,393
1,393
15,749
15,749
(1,941)
(1,941)
2012
2012
1,387,804
1,387,804
130,475
130,475
843,526
843,526
(7,741)
(7,741)
591,246
591,246
14,843
14,843
(183,739)
(183,739)
315,713
315,713
62,042
62,042
5,782
5,782
(328,688)
(328,688)
(10,790)
(10,790)
98,071
98,071
78,402
78,402
3,695
3,695
116,289
116,289
16,269
16,269
16,495
16,495
3,081
3,081
2,270
2,270
1,113
1,113
17,064
17,064
(1,671)
(1,671)
%13/12
%13/12
20.49
20.49
(76.45)
(76.45)
56.18
56.18
231.78
231.78
8.18
8.18
10.84
10.84
8.81
8.81
91.76
91.76
(49.59)
(49.59)
(49.74)
(49.74)
(30.83)
(30.83)
358.98
358.98
(277.60)
(277.60)
111.50
111.50
35.16
35.16
12.69
12.69
47.86
47.86
119.15
119.15
4.12
4.12
52.42
52.42
25.16
25.16
(7.71)
(7.71)
(16.16)
(16.16)

Income Before Taxes
Income Before
Taxes
(103 3 Meticais)
(10 Meticais)
2013
2013
2,481,946
2,481,946
9,343
9,343
1,428,993
1,428,993
32,810
32,810
922,015
922,015
23,134
23,134
524,699
524,699
821,783
821,783
53,998
53,998
7,248
7,248
(307,333)
(307,333)
27,944
27,944
(176,098)
(176,098)
231,904
231,904
4,238
4,238
192,940
192,940
54,441
54,441
44,616
44,616
5,934
5,934
5,436
5,436
2,048
2,048
22,662
22,662
(1,941)
(1,941)
2012
2012
1,913,005
1,913,005
99,533
99,533
1,204,924
1,204,924
3,202
3,202
708,578
708,578
21,123
21,123
301,725
301,725
443,010
443,010
95,378
95,378
7,895
7,895
(331,113)
(331,113)
(10,790)
(10,790)
192,865
192,865
111,585
111,585
7,924
7,924
173,783
173,783
25,139
25,139
16,495
16,495
4,809
4,809
3,508
3,508
1,636
1,636
17,064
17,064
(1,671)
(1,671)
%13/12
%13/12
29.74
29.74
(90.61)
(90.61)
18.60
18.60
924.67
924.67
30.12
30.12
9.52
9.52
73.90
73.90
85.50
85.50
(43.39)
(43.39)
(8.20)
(8.20)
7.18
7.18
358.98
358.98
(191.31)
(191.31)
107.83
107.83
(46.52)
(46.52)
11.02
11.02
116.56
116.56
170.48
170.48
23.39
23.39
54.96
54.96
25.18
25.18
32.81
32.81
(16.16)
(16.16)

Balano
Balano//Balance
BalanceSheet
Sheet
Rank
Empresa
Activo Lquido
Activo Corrente
Passivo Total
Passivo Corrente
10
14
11
15
12
16
13
17
14
18
15
19
16
20
17
21
18
22
19
23
20
12
17
9
13
14
15
11
16
17
20
13
19
15
n.a
16
22
20
21
19
n.a
n.a

DHL Moambique, Lda
SERMOZ, Lda
SERMOZ, Lda
21
22
22
21
797,710
156,649
1,061,823
356,957
472,134
209,802
666,841
242,358
156,649
157,352
356,957
171,654
209,802
104,807
242,358
102,013
157,352
71,016
171,654
55,112
104,807
PERMAR-Peritagens
n.a/ Balance
23
Balano
Sheet e Conferncias Martimas, SARL
Rank
Empresa
Company
3
2013
4
1
5
2
6
3
7
4
8
5
9
6
10
7
11
8
12
9
13
10
14
11
15
12
16
13
17
14
18
15
19
16
20
17
21
18
22
19
23
20
1,393
1,113
25.16
2,048
1,636
25.18
15,749
17,064
(7.71)
22,662
17,064
32.81
55,112
54,849
0.48
(1,941)
(1,671)
(16.16)
(1,941)
(1,671)
(16.16)
5.33
25,627
,244 Prprios
Capitais
Shareholdersfunds
3.51
874,895
(103 Meticais)
47.11
1,543,034
2012 %13/12
19.27
154,696
5.33
25,627,244
85.05
752,011
3.51
874,895
9.45
174,107
47.11
1,543,034
(18.78)
953,413
19.27
154,696
103.13
595,408
85.05
752,011
(43.26)
66,396
9.45
174,107
7.04
72,936
(18.78)
953,413
0.00
(577,736)
103.13
595,408
55.79
50,074
(43.26)
66,396
38,318 1,097.10
7.04
72,936
27.81
182,749
0.00
(577,736)
16.33
50,010
55.79
50,074
46.53
281,612
38,318 1,097.10
7.11
117,316
27.81
182,749
15.79
228,995
16.33
50,010
11,032
32.89
46.53
281,612
7,438
46.52
7.11
117,316
4,995
2.66
15.79
228,995
33,869
22.95
32.89
11,032
50,906
3.81
46.52
7,438
2013
10,453,569
2012
26.71
%13/12
(27.85)
(10.08)
12.47
4.81
17.15
26.71
25.99
(27.85)
69.57
12.47
3.95
17.15
20.95
25.99
228.49
69.57
68.85
3.95
2.96
20.95
26.21
228.49
(22.87)
68.85
39.13
2.96
(64.58)
26.21
70.88
(22.87)
55.86
39.13
36.39
(64.58)
(50.95)
70.88
48.93
55.86
(2.29)
36.39
21,023
29,852
(29.58)
2,059
4,198
(50.95)
15,897
54,833
42,669
28.51
42,372
28,451
48.93
54,855
56,139
(2.29)
54,855
56,139
(2.29)
Balano
%13/12
2012Sheet
2013 / Balance
%13/12
(10.08)
8,542,352
Activo Corrente
Current Assets
4.81
1,192,282
21
Rank
Passivo Total
Total Liabilities
(103 Meticais)
Activo Corrente
Current Assets
(103 Meticais)
1,599,653
2012
1,231,846
8,542,352
1,271,356
1,192,282
491,907
1,599,653
1,250,566
1,231,846
448,886
1,271,356
407,345
491,907
97,395
1,250,566
464,918
448,886
170,428
407,345
98,607
97,395
207,554
464,918
163,092
170,428
243,638
98,607
126,555
207,554
99,436
163,092
31,749
243,638
24,465
126,555
4,198
99,436
28,451
31,749
56,139
24,465
22
2,269,913
2013
184,503
26,992,028
1,391,598
905,620
190,560
2,269,913
774,332
184,503
1,209,423
1,391,598
37,670
190,560
78,071
774,332
(577,736)
1,209,423
78,008
37,670
458,706
78,071
233,568
(577,736)
58,176
78,008
412,654
458,706
125,654
233,568
265,144
58,176
14,660
412,654
10,898
125,654
5,128
265,144
41,643
14,660
52,847
10,898
28.13
(0.75)
2,026,942
2013
888,732
7,681,048
1,429,892
1,249,671
576,270
2,026,942
1,575,558
888,732
761,170
1,429,892
423,437
576,270
117,799
1,575,558
1,527,231
761,170
287,770
423,437
101,527
117,799
261,962
1,527,231
125,800
287,770
338,968
101,527
44,827
261,962
169,913
125,800
49,483
338,968
33,369
44,827
2,059
169,913
42,372
49,483
54,855
33,369
905,620
79,617
1,249,671
22
(8.20)
107.83
7.18
(46.52)
358.98
11.02
(191.31)
116.56
107.83
170.48
(46.52)
23.39
11.02
54.96
116.56
25.18
170.48
32.81
23.39
(16.16)
54.96
71,556
28.63
%13/12
(0.98)
7.42
22.33
2.06
12.15
28.63
10.47
(0.98)
34.68
22.33
4.10
12.15
361.75
10.47
373.81
34.68
70.93
4.10
(19.19)
361.75
71.85
373.81
(12.96)
70.93
37.02
(19.19)
(19.85)
71.85
23.83
(12.96)
138.82
37.02
75.55
(19.85)
(29.58)
23.83
28.51
138.82
(2.29)
75.55
21
7,895
111,585
(331,113)
7,924
(10,790)
173,783
192,865
25,139
111,585
16,495
7,924
4,809
173,783
3,508
25,139
1,636
16,495
17,064
4,809
(1,671)
3,508
71,016
2,561,332
2012
1,578,077
37,947,610
2,144,856
4,273,113
1,199,755
2,561,332
11,717,338
1,578,077
2,370,365
2,144,856
418,964
1,199,755
102,143
11,717,338
1,174,528
2,370,365
188,734
418,964
928,227
102,143
308,328
1,174,528
430,775
188,734
332,143
928,227
244,471
308,328
241,348
430,775
83,775
332,143
24,882
244,471
29,852
241,348
42,669
83,775
56,139
24,882
3,294,694
2013
1,562,662
40,764,353
2,623,742
4,361,038
1,345,569
3,294,694
12,944,202
1,562,662
3,192,371
2,623,742
436,137
1,345,569
471,644
12,944,202
5,565,059
3,192,371
322,605
436,137
750,073
471,644
529,848
5,565,059
374,950
322,605
455,104
750,073
195,955
529,848
298,852
374,950
200,069
455,104
43,680
195,955
21,023
298,852
54,833
200,069
54,855
43,680
4,361,038
7,248
231,904
(307,333)
4,238
27,944
192,940
(176,098)
54,441
231,904
44,616
4,238
5,934
192,940
5,436
54,441
2,048
44,616
22,662
5,934
(1,941)
5,436
102,013
2013
Capitais Prprios
Shareholdersfunds
(103 Meticais)
(49.74)
111.50
(30.83)
35.16
358.98
12.69
(277.60)
47.86
111.50
119.15
35.16
4.12
12.69
52.42
47.86
25.16
119.15
(7.71)
4.12
(16.16)
52.42
7,681,048
3
2012
4
1
5
2
6
3
10
4
8
5
7
6
12
10
9
8
14
7
11
12
17
9
13
14
15
11
16
17
20
13
19
15
n.a
16
22
20
21
19
n.a
n.a
Balano
Sheet e Conferncias Martimas,
Indicadores
PERMAR-Peritagens
SARL / Ratios
n.a/ Balance
23
5,782
78,402
(328,688)
3,695
(10,790)
116,289
98,071
16,269
78,402
16,495
3,695
3,081
116,289
2,270
16,269
1,113
16,495
17,064
3,081
(1,671)
2,270
%13/12
40,764,353

DHL Moambique, Lda
DHL Moambique, Lda
SERMOZ, Lda
SERMOZ, Lda
2,906
165,821
(430,031)
4,994
27,944
131,043
(174,174)
24,056
165,821
36,149
4,994
3,208
131,043
3,460
24,056
1,393
36,149
15,749
3,208
(1,941)
3,460
7.42
37,947
,610 Lquido
Activo
2.06
4,273,113Net Assets
2013
Empresa
Company
LAM
- Linhas Areas de Moambique, SA
26,992,028
41.88
59.93
(30.04)
0.41
26.68
34.64
(12.12)
22.58
59.93
24.51
0.41
25.57
34.64
34.51
22.58
28.13
24.51
(0.75)
25.57
0.48
34.51
Activo Lquido
Net Assets
(103 Meticais)
2013 2012/ Balance Sheet

Balano
1
Rank
562,256
97,950
1,517,755
355,502
372,696
155,830
758,838
197,721
97,950
126,372
355,502
136,698
155,830
77,920
197,721
79,617
126,372
71,556
136,698
54,849
77,920
2012
(103 Meticais)
Empresa
Company
Indicadores
/ Ratios
2013 2012
1
Rank
Company
LAM
- Linhas Areas de Moambique, SA
3
2013
4
1
5
2
6
3
7
4
8
5
9
6
10
7
11
8
12
9
13
10
14
11
15
12
16
13
17
14
18
15
19
16
20
17
21
18
22
19
23
20
3
2012
4
1
5
2
6
3
10
4
8
5
7
6
12
10
9
8
14
7
11
12
17
9
13
14
15
11
16
17
20
13
19
15
n.a
16
22
20
21
19
n.a
n.a
Empresa

DHL Moambique, Lda
DHL Moambique, Lda
SERMOZ, Lda
SERMOZ, Lda
(103 Meticais)
2013
3,318,756
2012
2012
%13/12
Total Liabilities
1.68
3,398,217
1,448,038
0.64
1,018,297
1,024,781
2012 %13/12
2013
(3.18)
1,378,160 1,423,381
8.41
10,453,569 9,642,651
(11.54)
1,232,144 1,392,845
1.68
3,398,217
3,455,417
12.61
1,155,009 1,025,647
0.64
1,018,297
1,024,781
13.06
12,169,870 10,763,925
(3.18)
1,378,160 1,423,381
11.72
1,774,956
1,982,948
(11.54)
1,232,144 1,392,845
13.02
352,568
398,467
12.61
1,155,009 1,025,647
29,207 1,247.53
393,573
13.06
12,169,870 10,763,925
275.10
6,572,825 1,752,263
11.72
1,774,956
1,982,948
76.40
138,660
244,598
13.02
352,568
398,467
(67.26)
889,912
291,367
29,207 1,247.53
393,573
135.93
125,578
296,280
275.10
6,572,825 1,752,263
(16.81)
380,765
316,774
76.40
138,660
244,598
(15.99)
50,532
42,450
(67.26)
889,912
291,367
127,155
(44.71)
70,301
135.93
125,578
296,280
172.86
12,353
33,707
(16.81)
380,765
316,774
154.88
72,743
185,409
(15.99)
50,532
42,450
87.93
17,444
32,782
(44.71)
127,155
70,301
(36.05)
24,857
15,897
172.86
12,353
33,707
(85.01)
88,001
13,190
154.88
72,743
185,409
(61.61)
5,233
2,009
87.93
17,444
32,782
689,578
2013
821,101
3,318,756
1,161,192
1,448,038
934,152
689,578
1,013,577
821,101
1,680,951
1,161,192
398,467
934,152
23,898
1,013,577
1,293,216
1,680,951
206,321
398,467
166,784
23,898
60,588
1,293,216
234,152
206,321
42,450
166,784
64,501
60,588
33,586
234,152
81,253
42,450
28,175
64,501
15,897
33,586
13,190
81,253
2,009
28,175
711,336
2012
1,252,878
2,677,715
1,318,612
1,367,413
856,331
711,336
743,488
1,252,878
1,396,001
1,318,612
352,568
856,331
29,207
743,488
843,623
1,396,001
102,956
352,568
488,024
29,207
125,578
843,623
282,908
102,956
50,532
488,024
126,120
125,578
12,310
282,908
27,359
50,532
17,444
126,120
8,094
12,310
88,001
27,359
5,233
17,444
(3.06)
%13/12
(34.46)
23.94
(11.94)
5.90
9.09
(3.06)
36.33
(34.46)
20.41
(11.94)
13.02
9.09
(18.18)
36.33
53.29
20.41
100.40
13.02
(65.82)
(18.18)
(51.75)
53.29
(17.23)
100.40
(15.99)
(65.82)
(48.86)
(51.75)
172.84
(17.23)
196.99
(15.99)
61.52
(48.86)
96.40
172.84
(85.01)
196.99
(61.61)
61.52
24,857
(36.05)
15,897
8,094
96.40
13,190
88,001
(85.01)
13,190
88,001
(85.01)
2,009
5,233
(61.61)
2,009
5,233
(61.61)
3,455,417
(103 Meticais)
Rent. A. Liq.
Rent. Net Asset
(%)
2012
20.21Rent VN20.87
Profits/Revenue
2.79
0.58
(%)
31.58
2013
0.30
20.21
23.14
0.58
0.94
31.58
(12.45)
0.30
49.00
23.14
2.95
0.94
0.35
(12.45)
(57.00)
49.00
5.59
2.95
(35.49)
0.35
41.90
(57.00)
1.30
5.59
34.70
(35.49)
8.11
41.90
18.53
1.30
1.82
34.70
3.09
8.11
1.34
18.53
16.81
1.82
(3.34)
3.09
%13/12
8.41
9,642,651
Passivo Total
23.94
2,677
,715 Corrente
Passivo
Current
5.90
1,367
,413 Liabilities
Rent VN
Profits/Revenue
(%)
2013
Passivo Corrente
Current Liabilities
(103 Meticais)
25.82
2012
(0.27)
20.87
25.62
2.79
0.96
25.82
(17.58)
(0.27)
25.69
25.62
4.43
0.96
1.02
(17.58)
(27.70)
25.69
(2.98)
4.43
10.30
1.02
35.33
(27.70)
0.96
(2.98)
37.48
10.30
7.00
35.33
11.83
0.96
2.17
37.48
2.75
7.00
1.37
11.83
19.29
2.17
(3.05)
2.75
2013
2012
4.10
Rent. A. 3.66
Liq.
Rent.
0.70 Net Asset
3.05
(%)
39.98
2013
0.65
4.10
24.38
0.70
1.22
39.98
(1.29)
0.65
18.96
24.38
7.17
1.22
0.62
(1.29)
(7.73)
18.96
8.66
7.17
(23.22)
0.62
31.30
(7.73)
1.33
8.66
28.79
(23.22)
12.28
31.30
12.10
1.33
1.60
28.79
7.92
12.28
6.63
12.10
28.72
1.60
(3.54)
7.92
32.93
2012
(0.49)
3.66
27.57
3.05
1.24
32.93
(1.57)
(0.49)
13.32
27.57
14.81
1.24
5.66
(1.57)
(27.98)
13.32
(5.72)
14.81
10.57
5.66
25.43
(27.98)
0.86
(5.72)
35.01
10.57
6.65
25.43
6.83
0.86
3.68
35.01
9.12
6.65
3.73
6.83
39.99
3.68
(2.98)
9.12
Rent. C. P.
S/hs Funds
(%)
2013
2012
6.36 Rent. 5.55

C. P.
16.11
3.45 S/hs Funds
69.10
2013
6.01
6.36
59.67
3.45
9.02
69.10
(19.40)
6.01
67.09
59.67
60.10
9.02
3.85
(19.40)
74.43
67.09
43.63
60.10
(70.09)
3.85
79.66
74.43
9.23
43.63
37.75
(70.09)
19.80
79.66
14.63
9.23
24.97
37.75
37.74
19.80
27.52
14.63
41.71
24.97
(3.74)
37.74
(%)
60.89
2012
(7.47)
5.55
132.23
16.11
8.90
60.89
(17.49)
(7.47)
64.32
132.23
118.34
8.90
8.30
(17.49)
72.54
64.32
(18.47)
118.34
(914.88)
8.30
65.91
72.54
7.67
(18.47)
45.88
(914.88)
14.82
65.91
7.47
7.67
36.50
45.88
61.04
14.82
31.84
7.47
58.15
36.50
(6.57)
61.04
(103 Meticais)
Liquidez Geral
Current Ratio
(%)
2013
2012
3.19
2.31
Liquidez Geral
Current Ratio
0.87
0.86
(%)
2.94
2013
1.08
2.31
1.23
0.86
0.62
2.94
1.55
1.08
0.45
1.23
1.06
0.62
4.93
1.55
1.18
0.45
1.39
1.06
0.61
4.93
4.32
1.18
0.54
1.39
7.99
0.61
0.69
4.32
5.06
0.54
0.61
7.99
1.18
0.69
0.13
5.06
3.21
0.61
27.30
1.18
2.25
2012
0.98
3.19
0.96
0.87
0.57
2.25
1.68
0.98
0.32
0.96
1.16
0.57
3.33
1.68
0.55
0.32
1.66
1.16
0.20
3.33
1.65
0.55
0.58
1.66
4.82
0.20
1.00
1.65
8.08
0.58
1.16
4.82
1.40
1.00
0.52
8.08
0.32
1.16
10.73
1.40
0.52
5,128
4,995
2.66
21
22
1.34
1.37
6.63
3.73
27.52
31.84
0.13
41,643
33,869
22.95
22
21
16.81
19.29
28.72
39.99
41.71
58.15
3.21
0.32
52,847
50,906
3.81
23
n.a
(3.34)
(3.05)
(3.54)
(2.98)
(3.74)
(6.57)
27.30
10.73
CM
MY
CY
CMY
Perl dos Scios da KPMG em Moambique /

Partners proles, KPMG in Mozambique
Filipe Mandlate
Director Geral / Country Managing Partner
Filipe jurista de profisso e especializado em legislao civil e comercial, com larga experincia com
o sistema jurdico moambicano e administrao pblica.Filipe prestou servios a entidades lderes
do mercado, agncias nacionais e internacionais na negociao e elaborao de contratos, acordos e
na elaborao de projectos e programas. Filipe participou igualmente em programas de mudanas e
processos de reformas e a restruturao de instituies pblicas assim como privadas.
Filipe is a lawyer by profession and specialises in civil and commercial law with extensive experience in the Mozambican
legal system and public administration. Felipe has advised leading businesses, national and international agencies on the
negotiation and drafting of contracts, agreements, and the design of projects and programmes.He has also participated in
legal reform processes and in the restructuring of both private and public institutions.
Email:fmandlate@kpmg.com
Quintino Coto
Hendrik van Heerden
Scio Gerente de Auditoria / Audit Managing Partner

Hendrik um Revisor Oficial de Contas com 40 anos de experincia em consultoria e auditoria.
Hendrik possui larga experincia internacional em vrios pases africanos e especializado em
auditoria, gesto do capital circulante, contabilidade e sistemas de controlo interno, elaborao
e implementao, oramento e controlo de custos. Hendrik prestou servios para principais
clientes da KPMG no governo e indstria e possui um vasto conhecimento dos mercados de
energia e recursos naturais tendo sido o scio gerente de auditoria para muitos dos clientes da
KPMG neste sector. Antes de ingressar na KPMG em Moambique, Hendrik foi scio da KPMG na frica do Sul.
Hendrikis a Chartered Accountant with 40 years audit and consulting experience. He has wide ranging international
experience across many African countries and specializes in auditing, working capital management, accounting and
internal control systems, design and implementation, budgeting and cost control. Hendrik has served many major
KPMG clients in Government and industry and has extensive knowledge of the energy and natural resources markets
having been the lead audit partner for many of KPMGs clients in this sector. Prior to joining KPMG in Mozambique,
Hendrik was a partner with KPMG in South Africa.
Email:hendrikvanheerden@kpmg.com
Scio Gerente da rea Fiscal e Legal / Tax Managing Partner

Quintino licenciado em Gesto de Empresas com mais de 24 anos de experincia com a KPMG. Ele
responsvel por liderar a tempo inteiro, uma equipa de 60 consultores nacionais e estrangeiros com
experincia na rea de impostos e legal. Ele especialista na prestao de servios de consultoria e
tramitao fiscal para clientes de vrios sectores de actividade, incluindo, minerao, petrleo e gs,
transporte, logstica, servios financeiros e agricultura.
Quintino possui excelente conhecimento das Normas Internacionais de Relato Financeiro (IFRS), Prticas Contabilsticas
Geralmente Aceites em Moambique e o Sistema Fiscal Moambicano. Antes de fazer parte da KPMG Moambique,
Quintino trabalhou para a KPMG Portugal.
Quintino has an Honours Degree in Business Management and more than 24 years of experience with KPMG. He
is responsible for leading a team of 60 full time experienced national and international tax and legal consultants. He
specialises in providing tax advice and compliance services to clients from several business sectors including, mining, oil &
gas, transport, logistics, financial services and agriculture. He has excellent knowledge of International Financial Reporting
Standards (IFRS), Mozambican Generally Accepted Accounting Practise and the Mozambican Tax System.Before joining
KPMG in Mozambique, Quintino worked for KPMG in Portugal.
E-mail:qcotao@kpmg.com
Miguel Alvim
Scio Gerente da rea de Consultoria / Advisory Managing Partner
Miguel detentor de grau de Mestrado e Gesto de Negcios e Licenciatura em Economia e lidera uma
equipa de 30 consultores experientes nacionais e internacionais. As suas reas de especializao incluem
servios de auditoria interna, sistemas de controlo interno, servios de gesto financeira e contabilidade,
assessoria em TI, servios de RH incluindo capacitao, avaliao situacional e avaliao de necessidades.
Miguel um consultor de vrias das principais entidades de Moambique no que diz respeito s suas
operaes em frica, dada a sua vasta experincia de fazer negcios no continente Africano.
Miguel has an MBA and Honours Degree in Economics and leads our advisory practise comprising a team of 40 experienced
national and international consultants. His areas of expertise includesinternal audit services, internal control systems, financial
management, accounting services, IT advisory, HR services including capacity building, situational assessments and needs
assessment. Miguel is an advisor to many of Mozambiques leading Companies in respect to their Africa operations, given his
extensive experience of doing business on the African continent.
Abel Guaiaguaia
Scio de Auditoria / Audit Partner

Abel um Revisor Oficial de Contas qualificado com mais de 15 anos de experincia na
prestao de servios profissionais. A sua experincia em auditoria engloba sectores tais
como a banca, seguros, mercados industriais, mercados consumidores assim como projectos
financiados pelo governo e por doadores. Ele formador acreditado ao nvel da KPMG frica
tendo formado extensivamente em Moambique e Angola, inclundo ministrar formao sobre
o IFRS a clientes como parte de projectos de implementao destas normas em Moambique.
Abel tem tambm publicados artigos semanais sobre contabilidade, num dos jornais dirios de Maputo, sob a coluna
com ttulo Desmistificando o IFRS e trabalhou em Angola como scio de auditoria. Em termos da sua contribuio
para a academia, Abel leccionou cursos de contabilidade e auditoria nalgumas universitades locais e tambm
participou de vrias teses, tanto como supervisor e como membro do jri.
Abel is a qualified Chartered Accountant with over 15 years of experience in providing professional services. His
audit experience covers sectors such as banking, insurance, industrial markets, consumer markets as well as
Government and donor funded projects. He is an accredited trainer within KPMG Africa and has trained extensively in
Mozambique and Angola, including providing IFRS training to clients as part of projects to implement those standards
in Mozambique. Abel has also published weekly accounting articles under the column heading Demystifying IFRS
in one of the daily newspapers in Maputo as well as worked in Angola as audit partner. In terms of his academic
contribution, Abel lectured accounting and audit courses in local universities as well as participated in various theses
either as supervisor or as a member of the jury.
Email:aguaiaguaia@kpmg.com
Email:malvim@kpmg.com
Miesh-Al Gasant
Scio de Auditoria / Audit Partner
Miesh-al possui 18 anos de experincia em auditoria e consultoria adquiridas na frica do Sul,

Estados Unidos da Amrica, Austrlia, Nova Zelndia, Emirados rabes Unidos (UAE)e recentemente
em Moambique. Miesh-al detentor de grau de Licenciatura em Cincias de Contabilidade e
igualmente Revisor Oficial de Contas qualificado pelos Institutos de Contabilistas Certificados da
frica do Sul e da Nova Zelndia. A sua experincia em auditoria e consultoria diversificada, mas,
as principais reas de especializao so as reas de Aviao Comercial, Sector de Sade, Entidades
de Servios Financeiros, Mercados de Consumo e de consultoria em matria de Ofertas Pblicas Iniciais (IPOs). No que
diz respeito formao, Miesh-al presidiu vrios cursos sobre auditoria na Austrlia, Nova Zelndia e os Emirados rabes
Unidos. Miesh-al possui igualmente um grande interesse nas melhores prticas do Governo das Sociedades e tambm o
principal scio responsvel pela Responsabilidade Social da Entidade KPMG em Moambique.
Miesh-al has more than 18 years of audit and consulting experience gained in South Africa, Australia, New Zealand, the
United Arab Emirates (UAE) and now Mozambique. Miesh-al is the holder of a Bachelor of Accounting Science degree and
is also a qualified Chartered Accountant from both the South African and New Zealand Institutes of Chartered Accountants.
His audit and consulting experience is varied but, key areas of specialisation would be in the areas of Commercial Aviation,
Healthcare Industry, Financial Services entities, consumer markets and consulting in respect of Initial Public Offerings (IPOs)
readiness.
In respect to training, Miesh-al has presented various courses on auditing in Australia, New Zealand and the UAE.
Miesh-al also has a keen interest in Corporate Governance best practise and is also the lead partner responsible for KPMGs
Corporate Social Responsibility in Mozambique.
Email:miesh-algasant@Kpmg.com
Yussuf Mahomed
Scio da rea de Fiscalidade / Tax Partner
O Yussuf licenciado em Fiscalidade e bacharel em Contabilidade pelo Instituto Superior de
Contabilidade e Administrao de Lisboa. igualmente Tcnico Oficial de Contas, inscrito na Ordem
dos Tcnicos Oficiais de Contas em Portugal. Antes de ingressar na KPMG Moambique em 2010,
Yussuf trabalhou para a KPMG Portugal onde se especializou em Corporate Tax.
Neste perodo na KPMG, o Yussuf teve a oportunidade de estar envolvido em diversas matrias de
consultoria fiscal e regulatria, com enfoque para estruturaes de investimentos em Moambique, benefcios fiscais,
aplicao dos Acordos para evitar a Dupla Tributao, transaces na rea dos recursos naturais (Minas e Petrleos & Gs),
tributao de expatriados (IES), aplicao da Lei Cambial nas transaces com entidade no residentes.
Yussuf um formador acreditado pela KPMG e em vrias ocasies participou como orador em diversas conferncias
internacionais, particularmente na temtica de implicaes fiscais dos investimentos em Moambique.
Yussuf has an Honours Degree in Tax and a Bachelor in Accounting and Administration from Instituto Superior de
Contabilidade e Administrao de Lisboa and is also a Technical Chartered Accountant registered with the Ordem dos
TcnicosOficiais de Contas in Portugal. Prior to joining KPMG in Mozambique in 2010, Yussuf worked for KPMG in Portugal
where he specialised in Corporate Tax.
Yussuf specialises in tax structuring of investments in Mozambique, Double Tax Treaty analysis, tax due diligence assistance,
transactions on interests in Mining and Oil & Gas, expatriates taxation (GMS) and the application of exchange controls in
transactions with non-resident entities.
Yussuf is a KPMG accredited trainer and has on many occasions participated in international conferences as a speaker with
regards to the tax implications of investing in Mozambique.
Email:yussufmahomed@kpmg.com
Andr Olivena
Scio da rea de Consultoria / Advisory Partner

Andr licenciado em Economia pela Universidade Nova de Lisboa e tem um Mestrado em Finanas
pela Universidade Catlica Portuguesa. Andr ingressou na KPMG Portugal em 2004 e por vrios
anos fez parte da equipa de Global Infrastructure, inserida no departamento de Corporate Finance da
KPMG.
Depois de nos ltimos 3 anos ter integrado a KPMG frica do Sul, perodo no qual teve a
oportunidade de trabalhar em vrios pases da SADC (Southern Africa Development Community),
Andr est agora associado a nossa prtica de consultoria em Moambique com foco para as transaces e reestruturao.
Durante este perodo o Andr teve a oportunidade de estar envolvido em vrias transaces, nomeadamente nas areas
de transportes e energia, onde desenvolveu conhecimentos na rea financeira e no financiamento de diversas entidades
e projectos. Conta tambm com experincia significativa em consultoria estratgica e financeira, tendo liderado vrias
transaces e assessorando vrios projectos desde a sua concepo at fase de implementao final. Actualmente,
Andr o Consultor Financeiro Lder em vrios projectos de longo prazo financiados significativamente em USD e Euro em
Moambique. Tem sido convidado a participar como orador em diversas conferncias internacionais, particularmente em
temticas como as PPP e a contratao pblica, mas tambm analisando diferentes formas de financiar o desenvolvimento
de programas de infraestrutura.
Andr has an Honours Degree in Economics from Universidade Nova de Lisboa and a Master in Finance from Universidade
Catlica Portuguesa. He joined KPMG Portugal in 2004 and has for many years been part of KPMGs Global Infrastructure
team within KPMG Corporate Finance.
After spending the last 3 years working for KPMG South Africa, in which time he performed engagements in various SADC
countries, Andre has now joined our Mozambican practise with a focus on transactions and restructuring.
Andr has been involved with several transport and power related transactions where he developed project finance and
other corporate financing skills. He has extensive experience in providing transaction advice and leading large scale projects
to successful implementation. He is currently the Lead Financial Advisor to various long term projects in Mozambique with
significant US dollar and Euro based funding. Given his experience of working across several sectors and jurisdictions,
Andre has on numerous occasions spoken on policy and innovative ways of financing infrastructure delivery.
Email: andreolivenca@Kpmg.com
CM
www.kpmg.co.mz
Rua 1.233, n 72C
Maputo - Moambique
Telefone: 00258 21 355 200
Cel: 00258 82 317 6340
Fax: 00258 21 313 358
mz-fminformation@kpmg.com
MY
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2014 KPMG Auditores e Consultores SA, uma empresa Moambicana e rma-membro da rede KPMG de rmas independentes
aliadas KPMG Internacional, uma cooperativa Sua.
2014 KPMG Auditores e Consultores SA, is a Mozambican company and a member rm of the KPMG network of independent
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KPMG's Top 100 Companies in Mozambique Survey

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The sixteenth edition / A dcima sexta edio / 1

2 / A dcima sexta edio / The sixteenth edition

The sixteenth edition / A dcima sexta edio / 3

ndice / Table of contents

Anlise Agregada ............................................................................................................ 44

4 / A dcima sexta edio / The sixteenth edition

The sixteenth edition / A dcima sexta edio / 5

Por ocasio do lanamento da XVI Edio da Pesquisa

A presente Edio analisa o comportamento das principais

This edition analyses the behaviour of the main companies

Nesta pesquisa esto reflectidos os esforos dos

This study reflects the efforts of the main economic

The sixteenth edition / A dcima sexta edio / 7

A KPMG auditou e continua a auditar as principais empresas

Talking about the first 25 years at KPMG, is talking about 25

Quando iniciamos as nossas actividades em 1990, a linha

KPMG has audited and continues to audit the leading

The sixteenth edition / A dcima sexta edio / 9

Pesquisa da KPMG sobre as

10 / A dcima sexta edio / The sixteenth edition

The sixteenth edition / A dcima sexta edio / 11

Activo Corrente um activo classificado

classificao das empresas prescrito no

Current Asset an asset is classified as

the classification of businesses as

guardado primariamente com

It is held primarily for the purposes of

Small Enterprise: from 5 to 49

Espera-se que seja realizado num

Mdia Empresa: de 50 a 100

Trata-se de caixa e equivalentes de caixa

Rentabilidade dos Activos Lquidos o

ActivoTotal Lquido total do valor do

Rentabilidade do Volume de Negcio

Capitais Prprios Mdios constituem os

Resultado Lquido corresponde ao lucro

Custos Operacionais incluem toda

12 / A dcima sexta edio / The sixteenth edition

Rentabilidade dos Capitais Prprios

Resultado antes de Impostos

It is expected to be realised within a

Medium Enterprises: from 50 to

Average Equity Capital is the sum of

Net results corresponds to the profit

Operational Costs includes all

Results beforeTax corresponds to the

Shareholders capital constitutes the

Exchange Rates as has been

The sixteenth edition / A dcima sexta edio / 13

A KPMG continua a oferecer

14 / A dcima sexta edio / The sixteenth edition

iniciado a sua actividade a pouco

Porque a KPMG est empenhada em

A semelhana das edies

A presente edio analisa os resultados

Em termos de tiragem, esta edio

KPMG continues to aim to provide the

started their activity recently, they

It is with great pride that we recall

The current document contains ten

This year KPMG presents the XVI

(ii) Interview with His Excellency,