Presentation of 1Q13 Results

Transcription

1 Presentation of 1Q13 Results

2 Disclaimer This presentation 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 prior notice. To obtain further information on factors that may give rise to results different from those forecast by Mills, please consult the reports filed with the Brazilian Comissão de Valores Mobiliários (CVM). 2

3 Agenda 1Q13 Results Growth plan 3

4 1Q13 Highlights In R$ million % % % 34.2% % % % % 40.7% % 42.5% 50% 45% 40% 35% 30% 25% New Record % 12.7% % % % 15.1% 15.8% 14.5% 14.9% 13.6% 14.5% % 15% 10% 5% 0.0 1Q11 2Q11 3Q11 3Q11* 4Q11 1Q12 2Q12 3Q12 3Q12* 4Q12 1Q13 Net Revenues EBITDA Net Income EBITDA Margin ROIC¹ 0% 1Q13/1Q % % % - 80 bps - 20 bps 1Q13/4Q12-2.8% % - 5.7% bps + 40 bps * Excluding the negative impact of R$ 9.1 million of Allowance for Doubtful Debts (ADD) in 3Q11 and the positive impact of the provisions reversal in the amount of R$ 6.8 million in 3Q12 1 ROIC: Return on Invested Capital 4

5 Net revenues reached R$ million in 1Q13 Rental 32% Per business segment Heavy Construction 19% Technical Support Services 18% Per type of service Sales 8% Others 3% Industrial Services 21% Jahu - Residential and Commercial 27% Rental 71% 5

6 Heavy Construction Financial performance In R$ million % % % % % % % 50.2% % 42.7% 60% 50% 40% % % 26.0% % % % 16.6% % % % % % 30% 20% 10% - 1Q13/1TQ2 1Q11 2Q11 3Q11 3Q11* 4Q11 1Q12 2Q12 3Q12 3Q12* 4Q12 1Q13 Net Revenues EBITDA EBITDA Margin ROIC¹ % % bps bps 0% 1Q13/4Q % % bps bps * Excluding the negative impact of R$ 5.8 million of Allowance for Doubtful Debts (ADD) in 3Q11 and the positive impact of the provisions reversal in the amount of R$ 1.5 million in 3Q12 1 ROIC: Return on Invested Capital 6

7 Revenue Index (Basis 100= Maximum monthly revenue in the life of construction) Important contracts per stage in the evolution of monthly revenue from the heavy construction projects New contracts* Source: Mills New contracts* Contracts with growing volume of equipment Belo Monte hydroelectric powerplant Norte-Sul railway Monorail line Gold Subway lines 4 RJ and 5 SP Guarulhos airport Brasília airport BRT Fortaleza Light rail Cuiabá East Ring road SP Açu port Porto Maravilha Surroundings of the Maracanã stadium Surroundings of the Corinthians Arena New phases of Belo Monte hydroeletric powerplant Oeste Leste railway New stretches of Subway lines 4 and 5 - SP New stretches of Monorail lines 2 and Silver New stretches of Fortaleza BRT and airport BRT Belo Horizonte BRT Sul Distrito Federal Contracts with high volume of equipment Jirau, Colíder and Teles Pires hydroelectric powerplants Abreu e Lima refinery Comperj refinery Monorail line Silver - SP Viracopos airport Manaus airport BR-448 BRT Transcarioca Metropolitan arch RJ Paranaenses arena Beira-Rio stadium New stretches of Norte-Sul railway Expansion of the Atlântico Sul shipyard Navy base shipyard Paraguaçu shipyard Duplication of the BR-101 Northeast region Vale s mine and railway Companhia Siderúrgica de Pecém steel mill Contracts in the demobilization process Subway line 2 - SP CSN steel plant Transordestina railway BRT Belém Serra Leste mine Time 7

8 8 Heavy Construction - Construction works in progress Paranaenses Arena Curitiba, PR BRT Transcarioca Rio de Janeiro, RJ Main products: Alumills and Millstour Main products: SM Mills, Self-climbing formwork, Aluma formwork and Ladder scaffolding

9 The construction work related to World Cup and Olympic events represented 25% of the Heavy Construction business segment s 1Q13 revenue Investments in Infrastructure for the 2014 World Cup Total: R$ 23.6 billion 1Q13 Revenue R$ 47.5 million Others 9% World Cup and Olympics 25% In progess 2.9 Concluded Infrastructure 34% Industry 31% Stadiums Urban mobility Airports¹ Ports Source: 4th 2014 World Cup Report and Mills 1 7 of the 30 airport projects were concluded, however there is no information about their investments 9

10 Jahu Residential and Commercial Financial performance In R$ million % % % 38.8% % % 41.6% % 50.1% % 45.5% % 15.6% 14.8% % % 16.9% 42.8% 39.6% % 12.8% 50% 40% 30% 20% 10% - 1Q13/1Q12 1Q13/4Q12 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 3Q12* 4Q12 1Q13 Net Revenues EBITDA EBITDA Margin ROIC¹ % + 5.5% bps bps - 1.8% + 6.1% bps + 20 bps 0% * Excluding the positive effect of R$ 5.3 million of tax contingency reversal in 3Q12 1 ROIC: Return on Invested Capital 10

11 Commercial projects contributed 37% of 1Q13 equipment rental revenues In R$ million % 6% 3% 11% 13% 12% 9% 2% 1% 1% Others Industrial 32% 34% 34% 36% 37% Commercial Residential - others Residential - listed companies Residential 51 % 32% 45% 36% Residential 57 % Residential 53 % Residential 50% 43% Residential 50% 32% 19% 12% 17% 7% 18% 1Q12 2Q12 3Q12 4Q12 1Q13 11

12 Jahu - Commercial works in progress Hotel Mercure and Ibis Rio de Janeiro, RJ Port Corporate Tower Rio de Janeiro, RJ Torre Matarazzo Paulista São Paulo, SP Boulevard Londrina Shopping Londrina, PR 12

13 Industrial Services Financial performance In R$ million % % % % 12.1% 13.3% 12.2% 9.6% 8.5% 8.9% 7.2% 7.5% 4.7% 3.2% 3.9% 0.2% -1.2% % Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Net Revenues EBITDA EBITDA Margin ROIC¹ 20% 15% 10% 5% 0% -5% -10% 1Q13/1Q % + 2.0% + 10 bps bps 1Q13/4Q % % bps bps 1 ROIC: Return On Invested Capital 13

14 Oil and Gas contracts represented 31% of net revenue in 1Q13 1Q13 Revenue R$ 51.5 million Per type Per industry New plants 43% Maintenance 57% Others 35% Oil and Gas on-shore 22% Oil and Gas off-shore 9% Steel and Mining 4% Pulp and Paper 3% Petrochemical 28% 14

15 Rental Financial Performance In R$ million % 54.1% 54.8% 56.0% 61.8% 56.6% % 70% 60% % % % 17.1% 12.9% % % 49.8% % 16.3% 16.3% 16.9% % 50% 40% 30% 20% 10% - 1Q11 2Q11 3Q11 3Q11* 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Net Revenues EBITDA EBITDA Margin ROIC¹ 0% 1Q13/1Q12 1Q13/4Q % % bps bps + 2.6% % bps bps * Excluding the negative effect of R$ 3.3 million of Allowance for Doubtful Debt (ADD) in 3Q11 1 ROIC: Return on Invested Capital 15

16 Rental Recognition Award IDF Award (Índice de Desempenho Fornecedor - Supplier Performance Index) from Vale: best material supplier for Vale in Brazil. 16

17 Agenda 1Q13 Results Growth plan 17

18 Evolution of the number of branches Rental Industrial Services Jahu - Residential and Commercial Heavy Construction Colunas1 1Q13 18

19 We invested R$ 120 million in rental equipment in 1Q13, equivalent to 41% of our 2013 budget 450 Capex in R$ million Capex (%) Rental 68% Industrial Services 3% Jahu - Residential and Commercial 22% Heavy Construction 40% Q Budget 19

20 Presentation of 1Q13 Results Mills Investor Relations Tel.: +55 (21)