Mills: EBITDA margin reaches 51.7% in 1Q14
RIO DE JANEIRO, May 6, 2014 /PRNewswire/ -- Mills Estruturas e Servicos de Engenharia S.A. (Mills) presented in the first quarter of 2014 (1Q14) record net revenues, showing the highest gross and EBITDA margins in the last eighteen months. Main highlights of Mills 1Q14 performance:
- Net revenue of R$ 207.8 million, 10.3% higher than the first quarter of 2013 (1Q13).
- Record rental revenue of R$ 176.7 million, a 10.4% increase over 1Q13.
- EBITDA of R$ 107.5 million, 12.4% above 1Q13.
- EBITDA margin of 51.7%, versus 50.8% in 1Q13.
- Net earnings of R$ 33.9 million, a decrease of 10.0% compared to earnings from continuing operations of 1Q13.
- Return on invested capital (ROIC) of 11.5%, against 14.9% in 1Q13.
- Capex of R$ 102.3 million, of which R$ 92.8 million in rental equipment.
- Better performance of the Real Estate business unit, with EBITDA margin of 39.4%.
- Conclusion of the successful implementation of SAP in February, 2014.
- Winner of the "IPAF Training Center of the Year" award, in the IAPA awards.
- Approval of shareholder remuneration, at the General Shareholders Meeting, totaling R$ 46.5 million (gross amount), in the form of interest on equity and dividends.
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This press release may include declarations about Mills' expectations regarding future events or results. All declarations based upon future expectations, rather than historical facts, are subject to various risks and uncertainties. Mills cannot guarantee that such declarations will prove to be correct. These risks and uncertainties include factors related to the following: the Brazilian economy, capital markets, infrastructure, real estate and oil & gas sectors, among others, and governmental rules that are subject to change without previous notice. To obtain further information on factors that may give rise to results different from those forecasted by Mills, please consult the reports filed with the Brazilian Comissao de Valores Mobiliarios (CVM).
SOURCE Mills Estruturas e Servicos de Engenharia S.A.