Mills Reaches Record Revenue and EBITDA Levels

RIO DE JANEIRO, Aug. 8, 2011 /PRNewswire/ -- Mills Estruturas e Servicos de Engenharia S.A. (Mills - BM&FBOVESPA: MILS3) presented in the second quarter of 2011 (2Q11) record net revenues and EBITDA, 13.1% and 9.8% higher, respectively, than the previous quarter.

Main highlights of Mills 2Q11 performance:

• Record net revenues of R$ 164.0 million, 24.9% higher than the second quarter of 2010 (2Q10).
• Record EBITDA of R$ 58.0 million, 15.0% above 2Q10.
• EBITDA margin of 35.4%, versus 38.4% in 2Q10.
• Net earnings of R$ 22.6 million, 13.4% lower than 2Q10, since the latter was positively affected by the better financial result caused by the net cash position after the IPO held in April, 2010. Excluding the effect of financial result, operational earnings totaled R$ 40.8 million, against R$ 39.9 million in 2Q10.
• Capex reached R$ 105.2 million, of which R$ 99.7 million were invested in organic growth and R$ 5.5 million in the acquisition of GP Sul.
• Mills' organic growth investment budget for 2011 was revised upward to R$ 432.7 million from R$ 337.2 million, or 28.3%, due to strong market demand and the successful implementation of the new branches of the Jahu and Rental divisions.
• Issuance of non-convertible debentures amounting to R$ 270 million, which should be sufficient to finance Mills' expected investments for 2011 when added to the cash generated by our operations.
• Annualized return on invested capital (ROIC) of 12.7%, being impacted by the high level of investment in the last twelve months - R$ 489.7 million, which are in their maturation stage.
• Mills is the world's 48th largest company in the rental equipment market, according to the 2010 ranking of the International Rental News magazine, and for the second time, we had the highest growth of any company in the world in this market.

For the complete press release, please click here.

Conference Call and Webcast
Date: August 9th, 2011, Tuesday
Time: 10:00 (New York time)
Teleconference: 1 866 866 2673 (toll free) or + 1 516 300 1066, code: Mills Engenharia
Webcast: www.mills.com.br/ri

For the conference call and webcast details, please click here.

For further information, contact:
+55-21-2123-3700
[email protected]
Alessandra Gadelha - IR Officer
[email protected]
Camila Conrado - Investor Relations
[email protected]
Carolina Goncalves - Investor Relations
[email protected]

SOURCE Mills Estruturas e Servicos de Engenharia S.A.