2018 and 4Q18 RESULTS WEBCAST

Transcription

1 2018 and 4Q18 RESULTS WEBCAST

2 2018 RESULTS - CONSOLIDATED Highlights Steel Unit Sales thousand tons Iron Ore Sales thousand tons 4, % 4, Exports +76% 6, % 3,274 Exports 3,676 3,441 +6% 3,650 Domestic rd Parties (Domestic) 2,492 2,441 Usiminas Adjusted EBITDA R$ million Net Profit R$ million 20% +23% 20% 2, % 829 2,

3 Results - Consolidated Adjusted EBITDA and Margin R$ Million 20.4% 19.6% 7.8% 2, Porto Sudeste Agreement 2, Non recurring Effects (R$ Million) Tax Credits PIS/COFINS 418 Credits receivable from Eletrobras 186 Provision for loss of legal deposits (56) Expenses - ICMS RS (47) Provision for Doubtful Accounts (42) Tax Credit Provision of ICMS MUSA (38) Advocacy Expenses (21) 1,985 2,

4 Results Steel Unit Adjusted EBITDA and Margin R$ Million 18.1% 19.3% 8.2% 2,421 1,

5 Results Mineração Usiminas Adjusted EBITDA and Margin R$ Million 65.8% % 12.4% 201 Porto Sudeste Agreement

6 Results Soluções Usiminas Adjusted EBITDA and Margin R$ Million 4.0% 3.6% 2.6% Best EBITDA

7 Results Usiminas Mecânica Adjusted EBITDA and Margin R$ Million 2.1% 12 (33) (21) -6.1% -11.6%

8 4Q18 Results

9 4Q18 RESULTS - CONSOLIDATED Highlights Steel Unit Sales thousand tons Iron Ore Sales thousand tons 1, % 1, Exports 1, % -20% 1, Exports -9% Domestic rd Parties (Domestic) Usiminas 3Q18 3T18 4T18 4Q18 3T18 3Q18 4Q18 4T18 Adjusted EBITDA R$ million Net Profit R$ million 18% % 24% % 401 3T18 3Q18 4Q18 4T18 3Q18 3T18 4Q18 4T18 9

10 Results - Consolidated Adjusted EBITDA and Margin R$ Million 24.2% 14.6% 19.8% 16.2% 581 (62) Expenses ICMS RS 18.2% Non recurring Effects (R$ Million) Tax Credits PIS/COFINS 418 Credits receivable from Eletrobras 186 Amnesty - ICMS RS 15 Provision for loss of legal deposits (56) Provision for Doubtful Accounts (38) Provision due ICMS MUSA (38) Advocacy Expenses (21) Q17 4T17 1T18 1Q18 2Q18 2T18 3Q18 3T18 4Q18 4T18 10

11 Steel Sales Steel Unit Thousand Tons 1,090 1,089 1,107-7% , Exports % 919-9% % 992-9% 905 Domestic Market 4T17 4Q17 1T18 1Q18 2Q18 2T18 3Q18 3T18 4T18 4Q18 11

12 Results Steel Unit Adjusted EBITDA and Margin R$ Million 25.1% % 18.9% 16.1% 533 (62) Expenses - ICMS RS 16.8% 503 Non recurring Effects (R$ Million) Tax Credits PIS/COFINS 418 Credits receivable from Eletrobras 186 Amnesty - ICMS RS 15 Provision for loss of legal deposits (56) Provision for Doubtful Accounts (38) Provision due ICMS - MUSA (38) Advocacy Expenses - Eletrobras/PIS COFINS (21) Q17 4T17 1T18 1Q18 2T18 2Q18 3T18 3Q18 4T18 4Q18 12

13 Iron Ore Sales Mineração Usiminas Thousand Tons 1,806 1,768-14% 1,500 1,514 1,386 1, % Exports % rd Parties (Domestic) -14% Usiminas 4Q17 4T17 1T18 1Q18 2T18 2Q18 3T18 3Q18 4Q18 4T18 13

14 Results Mineração Usiminas Adjusted EBITDA and Margin R$ Million 26.3% 20.1% 19.5% 16.5% 12.0% 75.6 (37,5) Provision for nonrecovery of ICMS Q17 4T17 1Q18 1T18 2T18 2Q18 3T18 3Q18 4T18 4Q18 14

15 Results Soluções Usiminas Adjusted EBITDA and Margin R$ Million 4.8% 4.1% 4.3% 2.8% 1.4% Q17 4T17 1T18 1Q18 2Q18 2T18 3Q18 3T18 4T18 4Q18 15

16 Results Usiminas Mecânica Adjusted EBITDA and Margin R$ Million 28.9% 32.7 (2,2) -4.3% (19,9) (19,6) (14,6) 7,8 (22,4) Tax Credits PIS/COFINS -19.6% -21.8% -27.6% 4Q17 4T17 1T18 1Q18 2T18 2Q18 3T18 3Q18 4T18 4Q18 16

17 Other Financial Indicators

18 Working Capital - Consolidated R$ billion % 0.4 Tax Credits (PIS/COFINS and IRPJ/CSLL) Q17 1Q18 2Q18 3Q18 4Q18 18

19 Working Capital: Steel Inventories Thousand tons % Finisehd Products Products in Progress Slabs Inventory turnover (days) 4Q17 1Q18 2Q18 3Q18 4Q

20 Cash Postion and Indebtedness (with interest) Consolidated R$ million Duration : R$: 40 months US$: 44 months 6,656 5,680 5,843 5,893 5,854 4,342 4,117 4,740 4,211 4,161 2,314 1,563 1,104 1,682 1,693 4Q17 1Q18 2Q18 3Q18 4Q18 Net Debt Cash Gross Debt 20

21 CAPEX - Consolidated R$ Million Q17 1Q18 2Q18 3Q18 4Q Steel Capital Goods Steel Transformation Mining Total 21

22 B3 ADR Nível I Leonardo Karam Rosa Head of IR leonardo.rosa@usiminas.com Tel: Danielle Ap. Maia IR Analyst danielle.aparecida@usiminas.com Tel: Felipe Gabriel P. Rodrigues IR Analyst f.gabriel@usiminas.com Tel: Declarations relative to business perspectives of the Company, operating and financial results and projections, and references to the growth of the Company, constitute mere forecasts and were based on Management s expectations in relation to future performance. These expectations are highly dependent on market behavior, on Brazil s economic situation, on the industry and on international markets, and are therefore subject to change.