Mills: Revenue Growth of 23.2% in 2011, with Record EBITDA

RIO DE JANEIRO, Feb. 13, 2012 /PRNewswire/ -- Mills Estruturas e Servicos de Engenharia S.A. (Mills) (BM&FBovespa: MILS3) presented in 2011 record net revenue and EBITDA, 23.2% and 22.4% higher, respectively, than in 2010. In the fourth quarter of 2011 (4Q11), there were record quarterly revenue, EBITDA and operational earnings, as well as a significant increase in the EBITDA margin, which reached 39.5%, being the highest quarterly EBITDA margin in the last two years, positively affected by the recovery of the Heavy Construction division and maturation of the branches of the Jahu and Rental divisions opened in 2010.

"In 2011 Mills maintained its strong annual growth trend with rates above 20%, showing the strength of the sectors that it operates. The solid basis of investments already built encourages us to seek, in 2012, the improvement of profitability in our businesses," stated Ramon Vazquez, Mills' president and CEO.

Main highlights of Mills 2011 performance:

• Record net revenue of R$ 677.6 million, 23.2% higher than 2010.
• Record EBITDA of R$ 238.1 million, 22.4% above 2010.
• EBITDA margin of 35.1%, versus 35.4% in 2010.
• Record operational earnings of R$ 162.0 million, 9.8% above 2010.
• Net earnings of R$ 92.2 million, against R$ 103.3 million in 2010, influenced by the increase in financial expenses to enable our investment plan.
• Capex reached R$ 525.9 million in 2011, of which R$ 430.4 million in organic growth and R$ 95.5 million in acquisitions.
• Annualized return on invested capital (ROIC) of 12.3%, against 21.0% in 2010, which was negatively impacted by the weakening of heavy construction demand from the end 2010 until mid 2011 and by the high level of investments made since the IPO, which, on the other hand, allowed Mills to be very well positioned to benefit from the strong demand in its markets in the subsequent years.
• Proposal for shareholder remuneration totaling R$ 25.3 million (gross amount), to be paid as interest on equity (R$ 24.4 million) and dividends (R$ 0.9 million), subject to approval at Mills' Shareholders Meeting.

For the complete press release, please click here. 

Teleconference and Webcast
Date: February 14th, 2012, Tuesday
Time: 09:00 (New York time), 12:00 (Rio de Janeiro time) and 14:00 (London time)
Teleconference: +1 516 300 1066 or +1 866 866 2673 (toll free), code: Mills Engenharia
Replay: +55 11 3127 4999 / code: 78117369 (Available until April 14th, 2012)
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.