Eternit adjusted EBITDA grows 14% to R$50.4 million in 3Q15
SAO PAULO, Nov. 5, 2015 /PRNewswire/ -- Eternit S.A. (BM&FBOVESPA:ETER3) announces its results for the 3Q15.
Construction materials registered weak sales in the domestic market in the third quarter of 2015, according to the Brazilian Construction Materials Industry Association (ABRAMAT). During the period, despite the economic deceleration and contraction in the segment, Eternit outperformed the industry.
Chrysotile asbestos sales in 3Q15 totaled 57,700 tons, decreasing 19.4% from 3Q14 due to lower demand in the construction materials industry. In the same period, fiber-cement sales reached 202,300 tons, down 13.1% from 3Q14, whereas concrete roofing tiles sales decreased 20.3%, mainly due to the industry slowdown, higher unemployment, lower household income and credit restrictions.
Consolidated net revenue in 3Q15 amounted to R$245.0 million, down 2.1% from 3Q14, due to the decrease in volume sold, which was partially offset by the increase in the net revenue from exports by the subsidiary SAMA.
Adjusted EBITDA in 3Q15 reached R$50.4 million, 14.2% higher than in 3Q14, due to the 5.1% increase in gross profit and the reduction in operating expenses. Net income decreased by 76.7% from 3Q14 to reach R$4.7 million in 3Q15, mainly due to net foreign exchange loss on the Company's debt in foreign currency amounting to R$11.3 million.
In line with the Company's strategy to consolidate the investments which had been made in recent years, investments in 3Q15 totaled R$1.5 million and were allocated to maintenance and modernization of the Group's industrial facilities.
A notable event subsequent to the reporting period was the election of Eternit in October 2015 as one of the 150 Best Companies to Work For by the 2015 Guide of the Voce S/A magazine. This achievement is recognition of the Company's constant pursuit of excellence in corporate governance, with the focus on employee development, good management practices and maintenance of a safe and pleasant work environment.
Conference call/Webcast
Date: 11/06/15
Time: 02.00 p.m. Brazilian Local Time – 11.00 a.m. New York – 04.00 p.m. London
Presentation can be followed on the website link http://www.ccall.com.br/eternit/3q15.htm or by telephone, dial the following telephone number (1-786) 924-6977 - Password:Eternit
IR Team Contact - +55 (11) 3194-3881/3194-3872 [email protected]
SOURCE Eternit S.A.
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