Eternit Reports Net Income of R$ 30 Million and EBITDA Increases 75% in 1Q12
SAO PAULO, May 8, 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 and metallic bathroom fittings segments and components for construction systems, today announces its results for the 1st quarter 2012 (1Q12).
Eternit, the largest and the most diversified roof coverings industry in Brazil, reported a superior performance to the construction material sector as a whole during the first quarter 2012. The Company worked its chrysotile mining business at full capacity and the fiber cement and concrete roofing tiles at over 80% of installed capacity.
The sales volume of chrysotile mineral in 1Q12 was 72.9 thousand tons, a growth of 6.0% when compared to the first quarter of 2011 due to an increase in demand and the regular flow of exports.
Sales of fiber cement items reported a year-on-year reduction of 7.5%, largely a reflection of price recovery. On the other hand, concrete tiles volume posted a growth of 6.8% compared with the same period in 2011, totaling 1,397 thousand square meters, mainly the result of the unveiling of the new plant in Sao Jose do Rio Preto (SP).
Net consolidated revenue in 1Q12 amounted to R$ 210.2 million, a 12.9% improvement in relation to 1Q11 driven by growth in volume of concrete tiles and bathroom chinaware and increased prices for all lines in the Company's portfolio in addition to favorable currency rates.
Consequently, EBITDA was 46.2 million, 75.1% greater than the same period in 2011 with a 22% margin. Net income was R$ 29.9 million, a growth of 77.5% over 1Q11.
In line with the Expansion and Diversification Program, Eternit made its debut in the metallic bathroom fittings segment during the course of the fist quarter 2012. Using third party capacity, the Company is pursuing the same strategy as was the case of bathroom chinaware products, launching a standard to luxury product range.
Invitation
Conference Call with Webcast (in Portuguese – simultaneous translation into English)
Presentation: Elio A. Martins – CEO and Investor Relations Officer
Date: Wednesday, May 9, 2012
Time: 11:00 a.m. Brasilia time; 10:00 a.m. in New York and 3:00 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/1q12.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
Playback: the recording will be available from May 9, 2012 until May 15, 2012
Telephone: (55-11) 4688-6312 Password for participants: 9571595
Contacts - Eternit S.A. – Investor Relations - Web Site: www.eternit.com.br/ir
Rodrigo Lopes da Luz - [email protected] - Phone: (55-11) 3038-3818
Paula Dell Agnolo Barhum - [email protected] - Phone: (55-11) 3194-3881
Frederico Gomes Amaral - [email protected] - Phone: (55-11) 3194-3872
SOURCE Eternit S.A.
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