Apresentao
Usiminas
4Q14
and 2014
Results
2T11 - APIMEC
Webcast
4Q14 Results Consolidated Figures
Main Indicators
Steel Sales thousand tons
1,401
-11%
Iron Ore Sales thousand tons
1,238
-6%
1,161
1,247
3Q14
4Q14
Adjusted EBITDA R$ million
357
-15%
3Q14
Net (loss) Profit R$ million
302
(24)
3Q14
4Q14
4Q14
3Q14
380%
(117)
4Q14
2
2014 Results Consolidated Figures
Main Indicators
Steel Sales thousand tons
6,220
-11%
2013
5,541
2014
Adjusted EBITDA R$ million
1,806
+3%
Iron Ore Sales thousand tons
6,754
-17%
5,623
2013
2014
Net (loss) Profit R$ million
208
1,863
+1,142%
17
2013
2014
2013
2014
Sales Volume - Steel
Thousand tons
1,492
13%
1,437
1,456
12%
15%
1,401
24%
1,247
19%
87%
4Q13
88%
1Q14
85%
2Q14
Domestic Market
76%
81%
3Q14
4Q14
Exports
4
Sales Volume - Steel
Thousand tons
6,881
5,916
6,220
27%
18%
13%
5,541
17%
82%
73%
87%
2011
2012
2013
Exports
83%
2014
Domestic Market
5
Adjusted EBITDA /Adjusted EBITDA Margin - Steel
R$ Million
17%
16%
13%
11%
11%
477
457
343
308
4Q13
1Q14
Adjusted EBITDA
2Q14
3Q14
268
4Q14
Adjusted EBITDA Margin
6
Adjusted EBITDA /Adjusted EBITDA Margin - Steel
R$ Million
14%
Sales of electrical energy surplus
10%
1,546
323
1,151
35
4%
3%
463
2011
378
2012
Ajusted EBITDA
2013
2014
Ajusted EBITDA Margin
7
Sales Volume Mining
Thousand tons
2,212
168
1,767
996
509
1,457
171
298
297
1,238
199
1,048
960
989
1,039
1,122
4Q13
1Q14
2Q14
3Q14
4Q14
Sales to Usiminas
Sales to 3rd parties - Domestic Market
Exports
1,161
39
Sales Volume Mining
Thousand tons
6,754
6,115
499
5,564
1,338
785
457
2,036
446
5,623
680
883
4,322
4,331
4,219
4,110
2011
2012
2013
2014
Exports
Sales to 3rd parties-Domestic Market
Sales to Usiminas
9
Adjusted EBITDA / Adjusted EBITDA Margin - Mining
R$ Million
47%
51%
33%
27%
181
175
11%
67
11
4Q13
1Q14
Ajusted EBITDA
2Q14
3Q14
24
4Q14
Ajusted EBITDA Margin
10
Adjusted EBITDA / Adjusted EBITDA Margin - Mining
R$ Million
Sales of electric energy surplus
62%
49%
604
51%
582
37%
439
277
56
2011
2012
Ajusted EBITDA
2013
2014
Ajusted EBITDA Margin
11
Adjusted EBITDA / Adjusted EBITDA Margin - Consolidated
R$ Million
21%
18%
16%
12%
12%
655
549
514
357
4Q13
1Q14
Ajusted EBITDA
2Q14
3Q14
Ajusted EBITDA Margin
302
4Q14
12
Adjusted EBITDA / Adjusted EBITDA Margin - Consolidated
R$ Million
16%
Sales of electrical energy surplus
14%
11%
1,806
35
1,863
2013
2014
379
1,264
5%
697
2011
2012
Ajusted EBITDA
Ajusted EBITDA Margin
13
Working Capital Consolidated
R$ Billion
3.0
3.1
2.5
4Q13
2.8
2.4
1Q14
2Q14
3Q14
4Q14
14
Steel Inventories Steel Business Unit
Thousand tons
Days in
Inventory
1,072
1,060
995
883
886
65
66
61
57
64
4Q13
1Q14
2Q14
3Q14
4Q14
15
Cash and Indebtedness Consolidated
R$ Million
6,903
6,708
6,658
6,835
6,702
2.1
1.9
3,469
4Q13
1.8
1.7
1.7
2,914
2,894
3,057
2,852
1Q14
2Q14
3Q14
4Q14
Cash
Gross Debt
Net Debt / Ajusted EBITDA (x)
16
G&A Evolution Consolidated
R$ Million
4.4%
4.3%
4.3%
3.8%
568
510
488
2011
2012
General and Administrative Expenses
2013
502
2014
G&A/Net Revenue
17
CAPEX Consolidated
R$ Million
2,490
276
365
1,643
112
555
1,110
52
94
981
1,849
64
317
976
964
600
2011
2012
Others
2013
Mining
2014
Steel
18
ADR
Level I
Cristina Morgan C. Drumond
Head of IR
cristina.drumond@usiminas.com
Phone: 55 31 3499-8772
Fax: +55 31 3499-9357
Leonardo Karam Rosa
Diogo Dias Gonalves
Investor Relations Manager
leonardo.rosa@usiminas.com
Phone: +55 31 3499-8550
Investor Relations Manager
diogo.goncalves@usiminas.com
Phone: +55 31 3499-8710
www.usiminas.com/ri
Declarations relative to business perspectives of the Company, operating and
financial results and projections, and references to the growth of the
Company, constitute mere forecasts and were based on Managements
expectations in relation to future performance. These expectations are highly
dependent on market behavior, on Brazils economic situation, on the
industry and on international markets, and are therefore subject to change.
Renata Costa Couto
Investor Relations Analyst
r.couto@usiminas.com
Phone: +55 31 3499-8619
