From the Wires
Eternit reports 3Q12 net revenue of R$ 230 million and 7% EBITDA growth
By: PR Newswire
Nov. 7, 2012 06:08 AM
SAO PAULO, Nov. 7, 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 3rd quarter 2012 (3Q12).
The Brazilian Construction Materials Industry Association (ABRAMAT) data reported weakness in demand for construction materials during the third quarter, more notably in September.
Chrysotile mineral sales volume posted an increase in 3Q12 of 6.1% largely driven by exports when compared with 3Q11. In the same period, volumes fell by 12.8% for fiber cement products and by 2.7% for the concrete tiles line due to slower market conditions.
Despite reduced fiber cement and concrete tiles sales, net consolidated revenues recorded growth of 7.9% to reach R$ 229.8 million in 3Q12 due to the increased volumes generated by the chrysotile mining business, price repositioning across the entire portfolio and the appreciation of the US dollar in relation to the Real, which had a positive impact on exports.
With proportionally faster growth in net consolidated revenue in relation to the increase in the consolidated cost of products sold, EBITDA reached R$ 45.3 million, 6.9% stronger than in 3Q11. This was achieved in spite of the rise of 19.2% in operating expenses, principally in function of higher expenditures with mining rights (royalties) due to expanded sales at the SAMA subsidiary and with the Company's defense of its chrysotile asbestos business.
Net income for 3Q12 reached R$ 27.1 million, 0.8% less than reported in 3Q11, principally a function of the initial expenses with Companhia Sulamericana de Ceramica, a joint-venture between Eternit and Organizacoes Corona, in addition to a lower financial result.
In line with the Company's Structured Expansion and Diversification Plan, investments in 3Q12 reached R$ 23.5 million, 53.5% more than in 3Q11, principally expended on the modernization of the fiber cement plants, the acquisition of equipment and trucks for SAMA and the initial construction work of the new bathroom chinaware plant.
The presentation together with slides may be viewed on the website by registering through the site www.ccall.com.br/eternit/3q12.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 for Brazil and (1 786) 924-6977 for other countries - Password for participants: Eternit
Playback: the recording will be available from November 8, 2012 until November 14, 2012
Telephone: (55-11) 4688-6312 Password for participants: 3638898#
Contacts - Eternit S.A. – Investor Relations
SOURCE Eternit S.A.
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