Eternit reports net revenues of R$ 211 million while Net Income jumps 29% in 2Q12
SAO PAULO, Aug. 9, 2012 /PRNewswire/ — Eternit S.A. (BM&FBOVESPA: ETER3; OTC: ETNTY), a company with 72 years of activity, the market leader in roof coverings with operations in the bathroom chinaware, metallic bathroom fittings segments and components for construction systems, today announces its results for the 2nd quarter 2012 (2Q12).
Despite the second quarter being a traditionally weaker period in demand for its products, the Company reported a slightly better 2Q12 performance than the construction materials sector as a whole. During the period, Eternit operated at full capacity in its chrysotile mining business, above 80% for the fiber cement product lines and at about 60% of its concrete tiles capacity.
Sales volume posted a decline of 6.6% in 2Q12 when compared with 2Q11 in the chrysotile mining business, principally due to weaker demand for construction materials. There was similar decline of 15.0% in fiber cement and 7.8% in concrete tiles, due to deceleration in the demand of these markets.
Despite a fall in sales volume, consolidated net revenues saw a growth of 5.0%, reaching R$ 211.0 million in 2Q12 due to price repositioning across the entire product portfolio and the appreciation of the US dollar against the Real, which had a positive impact on export revenues.
As a consequence of the increase in revenues and the control of cost of products sold, the Company reported an EBITDA of 39.3 million, 24.4% higher than 2Q11 with a margin of 19%. In comparison to the same period, net income improved 28.7% and reached R$ 27.0 million with a net margin of 13% relative to 2Q11.
In the light of a request made by the National Confederation of Workers in Industry – CNTI, the Federal Supreme Court – STF has arranged a public hearing between August 24 and 31, 2012 to debate the use of chrysotile asbestos. With this request, the CNTI is seeking to involve society on the issue of asbestos in the light of its importance to Brazil. Representatives of government bodies, medical doctors and scientists of various nationalities, technicians and sector employees will all take part in the hearing. Subsequently, the Minister-rapporteur, Marco Aurelio de Mello, will have the necessary time to decide his vote, after which the Direct Actions of Unconstitutionality – ADIs (4066 and 3937) can by submitted for judgment on merit by a plenary session of the court before the end of the year. Greater details can be found by accessing www.stf.jus.br. (in Portuguese).
Conference Call with Webcast (in Portuguese – simultaneous translation into English)
Presentation: Elio A. Martins – CEO and Investor Relations Officer
Date: Friday, August 10, 2012
Time: 10:00 a.m. in New York, 3:00 p.m. in London
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
Contacts – Eternit S.A. – Investor Relations
Rodrigo Lopes da Luz – email@example.com – Phone: (55-11) 3038-3818
Paula Dell Agnolo Barhum – firstname.lastname@example.org – Phone: (55-11) 3194-3881
Frederico Gomes Amaral – email@example.com – Phone: (55-11) 3194-3872
SOURCE Eternit S.A.