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Ppt 3 q15 en vfinal
- 1. Earnings Call –3Q15 November 13th, 2015 LTM = “Last Twelve Months”
- 2. The consolidated financialstatements presented here are consistent with the criteria of international accounting standards - IFRS issued by the International Accounting Standards Board – IASB, based on audited financial information. Non-financial information contained herein, as well as other operational information, were not audited by independent auditors and may include forward-looking statements and reflects the current views and perspectives of the management on the evolution of macro-economic environment, conditions of the mining and refractories industries, company performance and financial results. Any statements, projections, expectations, estimates and plans contained in this document that do not describe historical facts, and the factors or trends affecting financial condition, liquidity or results of operations, are forward-looking statements and involve several risks and uncertainties. This presentation should not be construed as legal, tax, investment or other advice. This presentation does not constitute an offer, or invitation, or solicitation of an offer, to subscribe for or purchase any securities, and neither any part of this presentation nor any information or statement contained herein shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. Under no circumstances, neither the Company nor its subsidiaries, directors, officers, agents or employees be liable to third parties (including investors) for any investment decision based on information and statements in this presentation, or for any damages resulting therefrom, corresponding or specific. The information presented or contained in this presentation is current as of the date hereof and is subject to change without notice. Magnesita has no obligation to update it or revise it in light of new information and / or in face of future events, safeguard the current regulations which we are submitted to. This presentation and its contents are proprietary information of the Company and may not be reproduced or circulated, partially or completely, without the prior written consent of the Company. Disclosure 2
- 3. 3 Crude Steel Production*(million tons) - Established Markets Volume (‘000 tons) Sales to Steel Segment Revenues (R$ million) Refractory Solutions Sales - Steel Sales by region (in R$) -1% -6% 3Q15 208 2Q15 209 3Q14 220 -5% LTM 3Q15 843 LTM 3Q14 885-6% 9M15 627 9M14 666 +12% +28% 3Q15 669 2Q15 598 3Q14 524 LTM 3Q15 2.382 LTM 3Q14 2.124 +12% +15% 1.837 1.594 9M159M14 9M159M14 30% 21% 9% 37% 3%3% 39% 26% 23% 9% North America South America Europe Asia + Oceania CIS + MEA
- 4. 4 Sales to IndustrialSegment Refractory Solutions Sales – Industrial Segment Volume (‘000 tons) Revenues (R$ million) 35 30 42 3Q152Q153Q14 +20% -15% 108100 111 +9% -3% 3Q152Q153Q14 -5% 9M15 111 9M14 117 +8% 9M15 350 9M14 325 -9% LTM 3Q15 145 LTM 3Q14 159 +1% LTM 3Q15 448 LTM 3Q14 445 9M14 11%4% 13% 20% 52% 9M15 24% 13% 6% 10% 47% CIS + MEA Asia + Oceania Europe North America South America
- 5. Volumes (thousand tonnes) Revenues(R$ mln) Gross profit and margin (R$ million; %) 243239262 +2% -7% 3Q152Q153Q14 252220206 3Q15 32,3% 2Q15 31,5% 3Q14 32,4% 778698635 +22% +11% 3Q152Q153Q14 897820 LTM 3Q15 31,7% LTM 3Q14 31,9% +10% LTM 3Q15 2.830 LTM 3Q14 2.570 5 Refractories Consolidated – Sales & Margin Per region (R$) Per segment (R$) 3Q153Q14 17,5% 82,5% 13,9% 86,1% Steel Industrial CONFIDENTIAL 989 -5% LTM 3Q15LTM 3Q14 1.044 5 738783 -6% 9M159M14 +14% 9M15 2.187 9M14 1.919 713 617 9M15 32,6% 9M14 32,2% 9M159M14 83,1% 16,9% 84,0% 16,0%
- 6. 6 Revenues (R$ million)Gross Profit and Margin (R$ million; %) Revenues (R$ million) Gross Profit and Margin (R$ million; %) Minerals and Services Sales and Margin Minerals Services 59 4539 +52% +31% 3Q152Q153Q14 +8% LTM 3Q15 181 LTM 3Q14 167 +32% 9M15 148 9M14 113 26 1813 89% 43% 3Q15 43.4% 2Q15 39.4% 3Q14 34.8% 68 56 +21% LTM 3Q15 37.7% LTM 3Q14 33.7% 57 38 52% 9M15 38.7% 9M14 33.6% 4948 41 +21% 3% 3Q152Q153Q14 24% LTM 3Q15 191 LTM 3Q14 154 21% 9M15 147 9M14 122 7810 -15% -34% 3Q15 13.9% 2Q15 16.9% 3Q14 25.6% 31 34 +10% LTM 3Q15 18.0% LTM 3Q14 20.1% 2726 4% 9M15 18.4% 9M14 21.3%
- 7. 7 Consolidated Sales andGross Profit Por Segmento 886791715 +12% +24% 3Q152Q153Q14 Gross Profit (R$ million; %) Consolidated Sales (R$ million) +11% LTM 3Q15 3.201 LTM 3Q14 2.890 284245230 +16%23% 3Q15 32.1% 2Q15 31.0% 3Q14 32.2% 798 681 17% 9M15 32.1% 9M14 31.6% +15% 9M15 2.483 9M14 2.154 999 908 10% LTM 3Q15 31.2% LTM 3Q14 31.4% 5% 89% 6% 6%6% 88% ServiceMineralsRefractories 9M159M14
- 8. 8 SG&A G&A and %of sales (R$ million; %) +5% +22% 3Q15 73 8.3% 2Q15 70 8.8% 3Q14 60 8.4% +6% +5% 3Q15 47 5,3% 2Q15 44 5,6% 3Q14 45 6,2% Freight Fixed Selling expenses +4% +25% 3Q15 70 7.9% 2Q15 68 8.5% 3Q14 56 7.8% +17% 9M15 204 8.2% 9M14 174 8.1% -1% 9M15 136 5.5% 9M14 137 6.4% +18% 9M15 199 8.0% 9M14 169 7.9% +11% LTM 3Q15 265 8.3% LTM 3Q14 239 8.3% +5% +16% 3Q15 117 13.2% 2Q15 112 14.1% 3Q14 101 14.1% +9% 9M15 335 13.5% 9M14 306 14.2% +8% LTM 3Q15 437 13.7% LTM 3Q14 405 14.0% LTM 3Q15 +25% 257 8.0% LTM 3Q14 206 7.1% 6.9% -9% 5.6% 199 LTM 3Q15LTM 3Q14 180 Selling Expenses and % of sales (R$ million; %)
- 9. 9 EBITDA and NetResult (R$ million) 3Q15 -903 2Q15 12 3Q14 -18 +35% +34% 3Q15 141 15.9% 2Q15 105 13.2% 3Q14 105 14.7% +16% LTM 3Q15 468 14.6% LTM 3Q14 404 14.0% LTM 3Q15 -994 LTM 3Q14 10 Adjusted EBITDA* (R$ million; %) *EBITDA excluding other operating revenues / expenses +27% 9M15 387 15.6% 9M14 306 14.2% -917 -21 9M159M14 Net Result (R$ million; %)
- 10. 10 CAPEX and WorkingCapital Working Capital (R$ million; %) CAPEX (R$ million) +36% +78% 3Q15 70 2Q15 51 3Q14 39 +50% 9M15 155 9M14 103 +22% LTM 3Q15 229 LTM 3Q14 187 3Q15 1.148 32,4% 2Q15 975 30,8% 1Q15 961 29,8% 4Q14 878 30,6% 3Q14 1.002 35,1% 33,9% 28,7% 26,1% 28,4% 27,3% Working Capital Working Capital as % of sales ¹ Adjusted working capital as % of sales ² ¹Quarterly sales multiplied by 4 ²WK adjusted by same FX as sales
- 11. *EBITDA excluding otherrevenues/expenses Total Excluding Perpetual Bond *EBITDA excluding other revenues/expenses Capital Structure Leverage ratio Leverage ratio ex-perpetual 2.135 1.7091.7061.5961.537 468432425387404 3Q15 3.7x 4.6x 2Q15 3.7x 4.0x 1Q15 3.5x 4.0x 4Q14 3.9x 4.1x 3Q14 3.7x 3.8x Net Debt / EBITDA Adj by fx Net Debt / EBITDA¹ EBITDA Net Debt 1.120917887931911 468431425387404 3Q15 2.1x 2.4x 2Q15 2.1x 2.1x 1Q15 2.0x 2.1x 4Q14 2.4x 2.4x 3Q14 2.3x 2.3x Net Debt / EBITDA Adj by fx Net Debt / EBITDA¹ EBITDA Net Debt 8,2 Net Debt per currency (as of Sep 2015) EUR 32% 49%USD BRL 20% 11
- 12. Octavio Pereira Lopes CEO EduardoGotilla CFO e IRO Daniel Domiciano IR Manager Phone: +55 11 3152-3237/3241/3202 ri@magnesita.com www.magnesita.com/ri 12 Investor Relations