teleconferencia 3 q12
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- 1. 3Q 2012 ResultsNovember 08th, 2012
2. SCHEDULEProvidncia USAHIGHLIGHTSRESULTSOUTLOOKProvidncia USA2 3. HIGHLIGHTS 3Q 2012Sales Volume 14.6% higher than 3Q11 reaching 26.1 thousand tons. This increase is due to the start of sales from our 2nd production line in Pouso Alegre and also the full capacity reached by our 1st production in the United States; Adjusted EBITDA reported a record R$ 36.1 million in 3Q12, a growth of 14.0% in relationto the same period in 2011; Net Income was also a record at R$ 18.9 million in 3Q12, 23.1% higher than 3Q11, with a Margin of 11.4%. For the YTD12, we posted a net income of R$ 33.8 million, 36.2% morethan for the same period 2011; Operating Cash generation amounted to R$ 118.9 million in the first nine months of the year, a 108.2% increase over the same period for 2011;The expansion project in Statesville (NC) in the United States is progressing according to plan. It will add another 20 thousand tons/year to production capacity in that country.3 4. SCHEDULEHIGHLIGHTSRESULTSOUTLOOK4 5. SALES VOLUME (in thousands of tons) The growth of 14.6% in 3Q12 compared with 3Q11 reflects both the full capacity at which our 1st US line of production is operating as well as the initial sales from the 2nd production line at the Pouso Alegre plant, inaugurated in June/12. 73.7 64.8 5.122.724.66.518.104.22.168.521.122.32Q123Q1267.223.63Q1159.7YTD 11NonwovensOthersYTD 12 5 6. NET REVENUE (in millions of Reais) The amount of R$ 166.7 million in Net Revenue in 3Q12 is the result of 16.8% growth in relation to 3Q11, in turn reflecting the increase in sales volume, improvement in the product mix, price realignment and the foreign460,0 exchange translation effect.142.7151.0166.73Q112Q123Q12440,0 420,0 400,0 380,0 360,0 340,0 320,0 300,0 280,0 260,0 240,0 220,0 200,0 180,0 160,0 140,0 120,0 100,0 80,0 60,0 40,0 20,0 -457.2 384.6YTD 11YTD 126 7. COGS (Cost of Goods Sold) (in millions of Reais) COGS totaled R$ 114.3 million in 3Q12, an increase of 19.5% in relation to 3Q11. This result is mainly a reflection of the higher sales volume, given that unit COGS posted a year-on-year rise of only 4.2%.R$ 4.33360,0 340,00,0320,00,0300,00,0280,00,0260,00,0240,00,0220,00,0R$ 4.400,0R$ 4.390,00,0R$ 4.16200,0R$180,0319.0160,0R$ 4.21140,00,0120,00,0100,00,0269.380,00,00,095.7108.1114.360,0 40,0 20,00,0R$3,70 --3Q112Q123Q12R$YTD 11YTD 12 7 8. EBITDA (in millions of Reais) and EBITDA MARGIN (%) Adjusted EBITDA reached R$ 36.1 million, a year-on-year growth of14.0%. EBITDA was a record for a single quarter; 80,0 60,020.4% 22,2%21,7% 60,018,7%18.1%40,093.2 40,069.6 20,031.736.120,028.2-0,0%3Q112Q123Q12-0YTD 11YTD 12For the YTD12, the company reported a total of R$ 93.2 million, 33.9% more than the 8 same period in 2011. 9. 25,0NET INCOME (in millons of Reais) and NET MARGIN(%) 11.4%10.8%The calculation base for adjusted Dividends in 3Q12, considering the deemed cost, reached R$ 21.5 million,5.2% 18.9and R$ 40.7 million in YTD12.15.4 7.87.4% 0,0%3Q112Q126.5%3Q1220,033.8Net Income totaled R$ 18.9 million in 3Q12, an 24.8increase of 23.1% comparing to 3Q11. For the YTD12, the company reported a total of R$ 33.8 million, 36.2% more than the same period in 2011; -9YTD 11YTD 120 10. NET DEBT (in millions of Reais) Net Debt increased 47.8% when compared with 3Q11 due to new investments coming on line during the course of the year. The majority of the financing for new lines is already in place and the debt balance is expected to begin a downward trend;403.1450.0304.5The foreign currency named debt was mainly borrowed in the USA with a natural hedge in the form of Providncias revenue flows and assets in that country.30.5% 1Q112Q113Q11Foreign Currency69.5%Local Currency10 11. DEBT / CASH (in millions of Reais) Consolidated Net Debt R$ (MM)09/30/2011 09/30/2012Ch. 3Q12 / 3Q11Total Debt Short Term Long Term Total312.8 314.7 627.5127.0 428.5 555.5-59.% 36.2% -11.5%Cash323.0105.5-67.3%Net Debt304.5450.047.8%Shareholders' Equity698.9697.8-0.2%22.214.171.124%2.82.3-18.1% 11Net Debt / Adjusted EBITDA Net Debt / Adjusted EBITDA without the lines that startup in 2012 12. 25,0DIVIDENDS (in millions of Reais) The Company announced the distribution of Dividends at 100% of the calculation base for the adjusted net profit in the period ending June 30, 2012 in the amount of R$ 19.2 million, in excess of R$ 0.24 per share. Payout will take place on 11/26/2012, the share trading exdividends from 11/14/2012. R$0,2422,0R$0,18 17,00,250,20R$0,14 0,1512,00,1019,2 0,0514,17,011,1 0,00 2,0 -0,05-3,01st Half 20101st Half 2011Dividends Paid (R$ million)1st Half 2012 Dividend/Share-0,1012 13. 25,0MARKET VALUE RATIOS Dividend Yield * 3,83% 2,95% 2,33%1st Half 20101,401st Half 20111st Half1,20 20121,00 * Dividend per Share / Share price at the end of the period.Share Price / Book Value per Share 0,800,600,400,660,740,792Q1213 3Q120,20-3Q11 14. SCHEDULEHIGHLIGHTSRESULTSOUTLOOK 15. OUTLOOK Dividend payout was 100% of the adjusted Net Income in the period ending June 30 2012, amounting to R$ 19.2 million, in excess of R$ 0.24 per share. The value will be paid out onNovember 26, 2012, the shares trading ex-dividends in November 14, 2012; The goal is for the 2nd production line in Pouso Alegre (MG) the Companys 12nd unveiled in June/12 and with 20 thousand tons/year of capacity, to reach full capacity by theend of this year; According to the expected schedule, we shall be concluding the 13th production line - the second in Statesville (NC) at the end of 2012, increasing the production capacity in the United States from 20 to 40 thousand tons/year; Providncia will end 2012 with a capacity of 140 thousand tons/year, underscoring its position as one of the largest and most modern players in the world nonwovens industry. 15 16. CEO: Hermnio V. S. de Freitas CFO: Eduardo Feldmann Costa IR : Gabriela Las Casas Beatriz Tokarski Tel: +55 (41) 3381-8673 Fax: +55 (41) 3283-5909 So Jos dos Pinhais PR www.providencia.com.br/ir www.twitter.com/providencia_riThe words believe, anticipate, expect, estimate, will, plan, may, intend, foresee, project and other similar expressions indicate forward-looking statements. These forward-looking statements involve uncertainties, risks and assumptions, since they include information related to our potential or assumed future operating results, business strategy, financing plans, competitive position in the market, industry environment, potential growth opportunities and the effects of future regulations and competition. In addition, forward-looking statements refer only to the date on which they were made and should not be taken as a guarantee of future performance. Providncia is under no obligation to update this presentation with new information and/or future events .