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4Q12 / 2012Usiminas

Apresentao Results
2T11 - APIMEC
Webcast
4Q12 Results
Highlights

Steel Sales thousand tons Iron Ore Sales thousand tons

1,749 -1% 1,731 1,747


+53%
1,142

3Q12 4Q12 3Q12 4Q12

EBITDA R$ million
Net Revenue R$ million
7%
6%
3,390 -5% 3,208 +7% 226
212
Non-recurring
effects
62

3Q12 4Q12 3Q12 4Q12


EBITDA EBITDA Margin
2
2012 Results
Highlights

Steel Sales thousand tons Iron Ore Sales thousand tons


6,881
5,916 +16% 6,115
5,564 +10%

2011 2012 2011 2012

Net Revenue R$ million EBITDA R$ million


11%
+7% 12,709
11,902
1,264
6%

-37%
798

2011 2012 2011 2012


EBITDA EBITDA Margin
3
Sales Volume Steel Business
Thousand tons

2012 Average : 1,720


2011 Average : 1,479 Domestic Market: 73%
Domestic Market: 82% 1,888 Exports: 27%
Exports: 18%
1,749 1,731
+16%
1,588 1,583
1,512
561 522
240 1,406 487
358 266
1,340
243 204

1,230 1,343 1,246 1,327 1,262


1,163 1,136 1,209

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


Domestic Market Exports
4
Sales Volume Mining
Thousand tons

Average 2011: 1,391 Average 2012: 1,529


Domestic Market: 86% Domestic Market: 78%
Exports: 14% Exports: 22%

1,730 1,747
+10%
1,495 1,434 1,497
1,388 478 510
1,248 326 425
327 1,142
374
213
371

1,169 1,252 1,237


1,035 1,107 1,014 1,072
771

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

Sales to Third Parties Sales to Usiminas


5
Working Capital - Consolidated
R$ billion

R$ 2.2 billion Reduction


5.4 5.3
5.2
5.0
4.7
4.3
3.8

3.3

2.6

-21%

4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12

6
Working Capital
Steel Business - Thousand tons

Reduction of 482 thousand tons in inventories

1,513 1,491

1,281
1,126
1,031

90 80 62 55 51

4Q11 1Q12 2Q12 3Q12 4Q12

Inventories Inventories in days

7
Capex Evolution - Consolidated
R$ million

3,192
81
41 - 22%

2,490
276 - 34%

365
1,652
3,070 112

555
1,849

985

2010 2011 2012


Steel Mining Others
8
Cash Position - Consolidated
R$ million

Stable cash position throughout 2012

4,834 4,844 4,775 4,718

1Q12 2Q12 3Q12 4Q12


9
Indebtedness - Consolidated
R$ million

Net debt reduced by 5% in 2012

5.2
4.7
4.3

3.6

3.1

4,183 4,130
3,927 3,941
3,728

2011 1Q12 2Q12 3Q12 4Q12

Net Debt Net Debt / Ebitda (X) 10


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 Luciana Valadares dos Santos
leonardo.rosa@usiminas.com diogo.goncalves@usiminas.com luciana.santos@usiminas.com
Phone: 55-31-3499.8056 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.

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