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2016 ANNUAL REPORT
REFINADORA COSTARRICENSE DE PETRÓLEO, S.A.
STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015
(EXPRESSED IN UNITED STATES DOLLARS)
2016
2015
SALES
US$ 2,157,175,841
US$ 2,314,487,304
COST OF SALES
(1,954,482,531)
(2,104,114,062)
GROSS PROFIT
202,693,310
210,373,242
OPERATING EXPENSES
(191,711,871)
(210,584,984)
OPERATING PROFIT (LOSS)
10,981,439
(211,742)
OTHER INCOME (EXPENSES):
Sale of services
102,841
215,667
Financial expenses
(4,333,869)
(2,907,656)
Financial income
1,048,332
1,242,907
Penalties and interest for assessment notices
-
(1,098,674)
Other expenses - net
(28,696,305)
(16,039,256)
LOSS BEFORE INCOME TAX
(20,897,562)
(18,798,754)
DEFERRED INCOME TAX
5,027,924
7,603,054
NET LOSS
(15,869,638)
(11,195,700)
OTHER COMPREHENSIVE (LOSS) INCOME:
Foreign currency translation adjustment
(36,369,324)
4,157,178
Increase of assets’ revaluation
509,105,718
Deferred tax effect related to items that will not be
subsequently reclassified to profits or loss
(110,708,073)
COMPREHENSIVE (LOSS) PROFIT OF THE YEAR
US$ (52,238,962)
US$ 391,359,123
Audited financial statements 2016 / Deloitte & Touche
