Eternit – Increasing Net Consolidated Revenue of R$ 213 Million and EBITDA Margin of 20% in 3Q11
SAO PAULO, Nov. 8, 2011 /PRNewswire/ — Eternit S.A. (BM&FBOVESPA: ETER3; OTC: ETNTY), a company with 71 years of activity and the market leader in roof coverings, panels and cement slabs, today announces its results for the 3rd quarter 2011.
Eternit’s 3Q11 performance exceeded the results for the sector as a whole, the Company operating its chrysotile mining business at full capacity and the fiber cement and concrete tiles lines at about 90%.
Sales volume of fiber cement products, including components for construction systems, amounted to 231.7 thousand tons, a growth of 12.9%, while sales of concrete tiles increased 9.2% over 3Q10, due to greater use of productive capacity through the capture of synergies between Tegula and Eternit. During the same period, the sales volume of chrysotile mineral fell due to delays in export shipments.
In 3Q11, the Company’s net consolidated revenue was R$ 213 million, an increase of 6.6% in relation to the same period in 2010. This was made possible due to higher volumes in fiber cement sales, concrete tiles and bathroom chinaware, together with an increase in mineral prices, and the recovery of business in the products comprising the remaining lines. An additional boost came from the appreciation in the US dollar against the Real at the end of 3Q11.
EBITDA amounted to R$ 42.3 million in the third quarter of 2011, equivalent to an EBITDA margin of 20%. In spite of the proportionally greater increase in the consolidated cost of products sold in relation to net consolidated revenue, the efforts made to contain expenses and adjust prices is already showing results: the EBITDA margin improved by 2 percentage points in 2Q11 in relation to 1Q11 and 4 percentage points in 3Q11 relative to 2Q11.
In 2011, total distributed profits amounted to R$ 80.5 million, a dividend yield of 7.5%. Eternit continues to rank among the top listed companies in Brazil in terms of shareholder rate of return.
In line with the initiatives for diversification and growth, the Company ramped up production capacity by 60% at Tegula and will begin building its 12th plant in the state of Ceara, this first unit to be dedicated to the manufacture of bathroom chinaware.
Conference Call with Webcast (in Portuguese – simultaneous translation into English)
Presentation: Elio A. Martins – Chairman and Investor Relations Officer
Date: Wednesday, November 9, 2011
Time: 2:00 p.m. Brasilia time; 11:00 a.m. in New York and 4:00 p.m. in London
The presentation together with slides may be viewed on the website by registering through the site www.ccall.com.br/eternit/3t11.htm or through the Company’s Investor Relations website: www.eternit.com.br/ir.
To listen to the presentation by telephone: (55-11) 4688-6361 to Brazil and (1 786) 924-6977 to other countries – Password for participants: Eternit.
Eternit S.A. – Relacoes com Investidores
Rodrigo Lopes da Luz – email@example.com
Frederico Gomes Amaral – firstname.lastname@example.org
Phone: (55-11) 3038-3818 – (55-11) 31943872
SOURCE Eternit S.A.