Eternit maintains investment plan and announces installation of 13th unit in the city of Manaus
SAO PAULO, May 6, 2013 /PRNewswire/ -- Eternit S.A. today announces its results for the 1st quarter of 2013.
Demand for construction material was low in the first quarter of 2013, according to figures from the Brazilian Construction Materials Industry Association (ABRAMAT). Despite this timid performance by the sector, the Company operated at full capacity in its chrysotile mining operation, and maintained production at the level of demand for fiber cement and concrete tiles.
Sales volume of chrysotile mineral saw a reduction of 17.4% in 1Q13, when compared to 1Q12, due to a reduction in the volume shipped to the export market, as a consequence of temporary logistics problems restricting access to Brazilian ports, which incidentally also impacted other segments of the national economy. Over the same period, fiber cement sales volume amounted to 200,500 tons, 6.9% higher than in 1Q12, while the volume of concrete tiles dropped by 13.4% due to the slowdown in this segment.
In 1Q13, consolidated net revenue totaled R$ 211.3 million, practically unchanged compared to 1Q12 (up by 0.5%), due principally to a satisfactory sales policy, and exchange-rate valuation which compensated for the reduction in the sales volumes of concrete tiles and chrysotile mineral.
EBITDA totaled R$ 38.8 million, 16.0% less than in 1Q12, as a result of a proportional increase in the cost of goods sold and lower export volume, due to the bottlenecks at the ports. Consequently, net income in 1Q13 was 28.2% less than in 1Q12, amounting to R$ 21.5 million.
In 1Q13, investments totaled R$ 17.8 million, 264.2% more than in 1Q12, principally allocated to construction of the bathroom chinaware plant in the state of Ceara. In line with its Structured Plan for Expansion and Diversification, on April 15, 2013 Eternit announced the setting up of unit, over the short and medium term, for research, development and production of inputs and construction materials in the city of Manaus, with planned investment of approximately R$ 40 million.
Conference call with Webcast (in Portuguese - with simultaneous translation into English)
Presentation: Elio A. Martins - President and Investor Relations Director
Date: May 07, 2013.
Time: 11.00 a.m. Brazilian Local Time – 10.00 a.m. New York – 3.00 p.m. London
In order to follow the presentation by telephone, please dial the following telephone numbers: (55-11) 4688-6361 for Brazil and (1 786) 924-6977 for other countries - Password : Eternit
Tel.: (55-11) 3038-3818
Tel.: (55-11) 3194-3881
Tel.: (55-11) 3194-3872
SOURCE Eternit S.A.