3Q13 ResultsUsiminas

Apresentao
2T11 - APIMEC
Webcast
3Q13 Results
Consolidated highlights

Steel Sales thousand tons Iron Ore Sales thousand tons

1,572 -0.4% 1,565 1,830
+34%

1,366

2Q13 3Q13 2Q13 3Q13

Adjusted EBITDA R$ million Net profit R$ million

115
538
+22%
441
+137

-22
2Q13 3Q13 2Q13 3Q13

2
Sales Volume
Steel Business - Thousand tons

The operational stability, integration with customers and better product mix take Usiminas
to a new level of steel sales in the domestic market - the highest volume in 5 years

1,888
1,749 1,731
1,588 1,583 1,591 1,572 1,565
1,512 561
1,406 487 144 112
240 1,340 522
358 266 365
243 204

1,428 1,453
1,343 1,246 1,327 1,262
1,230 1,162 1,136 1,209 1,226

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13

Domestic market Exports Total

3
Adjusted EBITDA/ Adjusted EBITDA Margin
Steel Business - R$ Million

The highest EBITDA and EBITDA margin in the Steel Business in the last 3 years
13%

10%

7% 7% 7%

4% 4%
3% 3%
2%
1%
376
289

189 201 178

117 100
83 74 57 20

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13

Adjusted EBITDA Adjusted EBITDA Margin

4
Sales volume
Mining Business Thousand tons

The Mining sales volume presented a strong growth

due to the increase in the domestic sales - Historical record

1,830
1,729 1,747 +34%
156 1,497
493 1,346 1,366
322 787
365 166
1,142 17 165
48
60 206
324
47
1,251 1,237
1,072 1,133 1,043
994
771

1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13

Sales to Usiminas Sales to 3rd parties - DM Exports Total

5
Adjusted EBITDA / Adjusted EBITDA Margin
Mining Business - R$ Million

The Mining EBITDA margin remained at a high level

even with the higher sales volume in the domestic market

68%
65%
61%
59% 58%
54% 53%
49%
46% 47%

36%

180 173
156 144 139
139 129
111 119
100
56

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13

Adjusted EBITDA Adjusted EBITDA Margin 6

 Adjusted EBITDA/ Adjusted EBITDA Margin
Consolidated - R$ Million

The highest EBITDA and EBITDA margin in the last 3 years 18%
610 17%
16%

14%
510 14%

12% +22%
11% 12% 12%

410 10%
10%
8%
7% 7% 7% 538 8%
310

4% 441 6%

365 343
337 4%
210 313

218 232 226 2%

190
150
110 0%

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13

Adjusted EBITDA Adjusted EBITDA Margin

7
Gross Profit, EBIT and Net Income
Consolidated - R$ Million

In the 3Q13, the net profit reached R$115 million

+R$79 Mi 455

376

+R$84 Mi Gross Profit

226
EBIT
Net Income
142
+R$137 Mi 115

-22

2Q13 3Q13
8
Working Capital
Consolidated - R$ Billion

4.8

Average
2.6

2.7 2.8
2.6 2.2

Dec/11 Dec/12 Mar/13 Jun/13 Sep/13

9
Capex
Consolidated - R$ Million

Strict CAPEX control

673

Total
272
Capital Goods
Steel Processing
Mining
261 Steel
435
175 56
104 359

112 172
142
45

1Q13 2Q13 3Q13 9M13

10
Net Debt
Consolidated - R$ Million

The strong financial position allowed a better cash

management through voluntary debt prepayment

4.4
4.0
2.9
2.3

3,611
3,509
3,410
3,280

4Q12 1Q13 2Q13 3Q13

Net debt Net debt / Adjusted EBITDA (x)

11
 ADR
Level I

Cristina Morgan C. Drumond

Head of IR
cristina.drumond@usiminas.com
Phone: 55-31-3499.8772
Fax: 55-31-3499.9357

Leonardo Karam Rosa Diogo Dias Gonalves Renata Moura Terra

leonardo.rosa@usiminas.com diogo.goncalves@usiminas.com renata.terra@usiminas.com
Phone: 55-31-3499.8550 Phone: 55-31-3499.8710 Phone: 55-31-3499.8619

www.usiminas.com/ri

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 Managements
expectations in relation to future performance. These expectations are highly
dependent on market behavior, on Brazils economic situation, on the
industry and on international markets, and are therefore subject to change.