1q14 - webcast
TRANSCRIPT
Apresentação Usiminas
2T11 - APIMEC1Q14 Results
Webcast
1Q14 Results – Consolidated Figures
Highlights
Steel Sales – thousand tons
2
Iron Ore Sales – thousand tons
Adjusted EBITDA – R$ million Net Profit – R$ million
514
655
4Q13 1Q14
+27%
47
222
4Q13 1Q14
+372%
2,044
1,256
168
509
2,212
1,765
4Q13 1Q14
Exports
Domestic
Market
-20%
1,431 1,414
6123
1,492 1,437
4Q13 1Q14
Flat
Products
Slabs
-4%
Sales Volume - Steel
Thousand tons
3
1,226
1,428 1,453
1,299 1,268
365
144 112
193169
1,591 1,572 1,565
1,4921,437
1Q13 2Q13 3Q13 4Q13 1Q14
Domestic Market Exports Total
R$ Million
Adjusted EBITDA /Adjusted EBITDA Margin - Steel
4
The highest EBITDA and EBITDA margin since the 3Q10.
514
108 117
189
83 74100
201
5720
178
289
376
308
477
18%
4% 4%
7%
3% 3%4%
7%
2%1%
7%
10%
13%
11%
17%
3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14
Adjusted EBITDA Adjusted EBITDA Margin
Sales Volume – Mining
Thousand tons
5
168
509+203%
4Q13 1Q14
Exports
996
298
4Q13 1Q14
-70%
Sales to 3rd parties
– Domestic Market
-20%
1,133994 1,043 1,048
957
48206
787
996
298
165 166
0
168
5091,346 1,366
1,830
2,212
1,765
1Q13 2Q13 3Q13 4Q13 1Q14
Sales to Usiminas Sales to 3rd parties - Domestic Market Exports Total
Adjusted EBITDA / Adjusted EBITDA Margin - Mining
R$ Million
6
EBITDA margin remains at a high level.
144119
139
181 175
58%
53%
49%47%
51%
1Q13 2Q13 3Q13 4Q13 1Q14
Adjusted EBITDA Adjusted EBITDA Margin
Adjusted EBITDA / Adjusted EBITDA Margin - Consolidated
R$ Million
7
The highest EBITDA and EBITDA margin since the 3Q10.
735
332 337365 343
218190
232
150
226
313
441
538 514
655
23%
11% 11%12% 12%
8%7% 7%
4%7%
10%
14%
17% 16%
21%
-30%
-20%
-10%
0%
10%
20%
100
200
300
400
500
600
700
800
3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14
Adjusted EBITDA Adjusted EBITDA Margin
+27%
Gross Profit, EBIT and Net Income - Consolidated
8
R$ Million
163
207
376
455437
520
-44
-16
142
226
168
336
-283
-123
-22
115
47
222
4Q12 1Q13 2Q13 3Q13 4Q13 1Q14
Gross Profit EBIT Net Income
Cash and Indebtedness – Consolidated
R$ Million
9
4,2394,736
3,9903,469
2,914
7,851 8,016
7,499
6,9036,658
4.4
3.22.5
1.9 1.7
1Q13 2Q13 3Q13 4Q13 1Q14
Cash Gross Debt Net debt / Adjusted EBITDA (x)
Working Capital – Consolidated
R$ Billion
2.62.7
2.2
2.8
2.5
3.0
4Q12 1Q13 2Q13 3Q13 4Q13 1Q14
10
1,031
903 916
1,0281,072 1,059
4Q12 1Q13 2Q13 3Q13 4Q13 1Q14
Inventory
Days54 51 52 59 65 66
Steel Inventories – Steel
Thousand tons
11
Capex – Consolidated
45
142125
158
198112
104 14595
29
17
15
25
22
10
175
261
435
275
238
1Q13 2Q13 3Q13 4Q13 1Q14
Others
Mining
Steel
Total
2013 = R$981 million
R$ Million
12
2012 – 2013
• Costs
• CAPEX
• Working Capital
2013 – 2015
• Productivity and operational efficiency
• Development of labor force
• Focus on the domestic market: greater integration with customers and development of new products
• Leverage reduction
• Focus on the core business
Continuous Process of Development
Final Message
13
www.usiminas.com/ri
ADR
Level I
Declarations relative to business perspectives of the Company, operating and
financial results and projections, and references to the growth of the
Company, constitute mere forecasts and were based on Management’s
expectations in relation to future performance. These expectations are highly
dependent on market behavior, on Brazil’s economic situation, on the
industry and on international markets, and are therefore subject to change.
Cristina Morgan C. DrumondHead of IR
Phone: 55-31-3499.8772
Fax: 55-31-3499.9357
Leonardo Karam RosaInvestor Relations Manager
Phone: 55-31-3499.8550
Diogo Dias GonçalvesInvestor Relations Manager
Phone: 55-31-3499.8710
Renata Costa CoutoInvestor Relations Analyst
Phone: 55-31-3499.8619