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Menu
Main Indicators
Revenue
COGS G&A
EBITDA
Financial Indicators per Business Unit
Income Statement
Balance Sheet
Cash flow
Capex per Business Unit
Menu
Mills - Main financial figures
in R$ millions
Net revenue
EBITDA
EBITDA margin (%)
Profit from continued operations
3Q12
(A)
173.4
3Q12
(B)
173.4
2Q13
(C)
3Q13
(D)
(D)/(C)
%
(D)/(A)
%
(D)/(B)
%
211.8
222.0
4.8%
28.0%
28.0%
7.3%
10.6%
17.5%
-4.3%
11.2%
95.9
90.3
98.9
106.1
55.3%
52.1%
46.7%
47.8%
40.4
34.8
44.6
38.6
-13.3%
(2.4)
(2.4)
3.5
1.0
-71.4%
Net earnings
38.0
32.3
48.1
39.6
-17.5%
4.4%
22.6%
15.8%
14.5%
14.2%
13.9%
ROIC (%)
Capex
Invested Capital
79.4
79.4
150.7
129.7
-14.0%
63.3%
63.3%
1,218.0
1,218.0
1,447.6
1,517.3
4.8%
24.6%
24.6%
Mills - Main financial figures of the pro forma results, considering the Industrial Services business unit
in R$ millions
Net revenue
EBITDA
EBITDA margin (%)
3Q12
3Q12
2Q13
3Q13
(D)/(C)
(D)/(A)
(D)/(B)
(A)
(B)
(C)
(D)
222.2
222.2
271.5
279.2
2.8%
25.6%
25.6%
96.1
90.4
107.5
109.4
1.8%
13.8%
21.0%
43.3%
40.7%
39.6%
39.2%
Menu
Mills - Net revenue per type
in R$ millions
3Q12
(A)
2Q13
(B)
3Q13
(C)
(C)/(B)
%
(C)/(A)
%
143.2
166.9
170.5
2.2%
19.1%
5.4
8.0
4.3
-46.4%
-19.8%
Sales
18.9
26.6
35.1
32.0%
85.9%
Others
6.0
10.3
12.1
17.7%
102.1%
173.4
211.8
222.0
4.8%
28.0%
Rental
Technical support services
Heavy Construction
3Q12
2Q13
3Q13
26.2%
55.1
26.0%
55.7
25.1%
34.9%
66.5
31.4%
72.4
32.6%
Rental
38.8%
90.1
42.6%
93.9
42.3%
45.5
67.4
173.4
100.0%
211.8
100.0%
222.0
100.0%
Mills - Cost of goods and services sold (COGS) and the general, administrative and operating expenses (G&A)
in R$ millions
3Q12
3Q12
2Q13
3Q13
16.6
21.4%
16.6
20.0%
24.5
21.7%
25.2
10.9
14.1%
10.9
13.2%
20.9
18.5%
22.1
1.7
2.1%
1.7
2.0%
2.3
2.0%
3.4
8.7
11.3%
8.7
10.5%
10.3
9.1%
11.3
COGS, ex-depreciation
37.9
48.9%
37.9
45.6%
57.9
51.3%
62.0
G&A
39.5
51.1%
45.2
77.5
100.0%
83.1
54.4%
100.0%
54.9
112.9
48.7%
100.0%
53.9
115.9
Menu
%
21.7%
19.1%
3.0%
9.8%
53.5%
46.5%
100.0%
3Q12
3Q12
2Q13
Heavy Construction
24.1
25.1%
22.8
25.3%
25.1
33.8
35.2%
29.4
32.6%
24.6
Rental
38.0
39.6%
38.0
42.1%
49.3
95.9
100.0%
90.3
100.0%
98.9
Total EBITDA
EBITDA margin (%)
55.3%
52.1%
46.7%
Menu
3Q13
25.3%
29.4
27.7%
24.8%
24.4
23.0%
49.8%
52.3
49.3%
100.0%
106.1
100.0%
47.8%
Realized
3Q12
2Q13
3Q13
in R$ millions
9M13
2013
(A)
(B)
Heavy Construction
11.3
28.8
26.5
77.0
89
22.8
44.8
16.1
85.9
112
0.2
0.3
2.0
2.4
40.3
69.3
74.2
216.8
274
Industrial Services
Rental
Corporate
Organic growth
Acquisition
Total Capex
4.9
7.6
10.9
26.2
49
79.4
150.7
129.7
408.2
530
150.7
129.7
408.2
79.4
530
Menu
Revised Budget
(A)/(B)
%
86.5%
76.7%
40.6%
79.1%
54.0%
77.1%
77.1%
in R$ millions
3Q12
3Q12
2Q13
3Q13
3Q13
(D)/(C)
(A)
(B)
(C)
(D)
(E)
Net revenue
Rental
37.0
37.0
41.0
42.2
42.2
2.8%
8.5
8.5
14.1
13.5
13.5
-4.2%
45.5
45.5
55.1
55.7
55.7
1.0%
EBITDA
24.1
22.8
25.1
29.4
28.2
17.4%
52.9%
50.2%
45.5%
52.8%
50.6%
ROIC (%)
19.7%
18.3%
17.8%
20.9%
19.7%
11.3
11.3
28.8
26.5
26.5
-8.1%
247.7
247.7
281.5
291.0
291.0
3.4%
6.6
6.6
7.2
7.7
7.7
6.7%
Capex
Invested capital
Depreciation
in R$ millions
3Q12
3Q12
2Q13
3Q13
(D)/(C)
(D)/(A)
(A)
(B)
(C)
(D)
Net revenue
Rental
49.2
49.2
52.0
47.8
-8.1%
-2.7%
11.4
11.4
14.5
24.5
69.7%
115.8%
60.5
60.5
66.5
72.4
8.8%
19.6%
EBITDA
33.8
29.4
24.6
24.4
-0.8%
-27.9%
55.9%
48.6%
37.0%
33.7%
ROIC (%)
20.2%
16.9%
9.3%
8.2%
22.8
22.8
44.8
16.1
-64.0%
-29.2%
365.8
365.8
448.2
482.1
7.5%
31.8%
7.4
7.4
9.6
10.2
5.9%
38.3%
Capex
Invested capital
Depreciation
in R$ millions
3Q12
2Q13
3Q13
(C)/(B)
(C)/(A)
(A)
(B)
(C)
Net revenue
Maintenance
30.3
36.7
32.6
-11.1%
7.5%
New plants
18.5
23.1
24.6
6.5%
33.0%
48.8
59.8
57.2
-4.3%
17.2%
0.1
8.5
3.3
-61.9%
2748.5%
0.2%
14.3%
5.7%
-6.2%
16.4%
9.5%
0.2
0.3
2.0
604.8%
895.0%
123.7
99.3
89.6
-9.7%
-27.6%
Depreciation
2.9
2.7
0.2
-92.3%
-92.7%
in R$ millions
3Q12
2Q13
3Q13
(C)/(B)
(C)/(A)
(A)
(B)
(C)
Net revenue
Rental
57.0
73.8
80.5
9.0%
41.2%
10.4
16.3
13.4
-17.7%
29.5%
67.4
90.1
93.9
4.2%
39.4%
EBITDA
38.0
49.3
52.3
6.2%
37.5%
56.5%
54.7%
55.7%
ROIC (%)
19.8%
18.5%
18.1%
40.3
69.3
74.2
7.1%
84.2%
389.7
528.1
564.4
6.9%
44.8%
10.6
14.4
15.8
9.5%
49.9%
Capex
Invested capital
Depreciation
Excluding the positive effect of reversal of allowance for doubtful debts and tax contingency in the amount of R$ 6.8 million.
Excluding the positive effect of tax reversal in the amount of R$ 1.5 million.
Menu
(D)/(A)
(E)/(C)
(E)/(B)
13.9%
2.8%
13.9%
59.4%
-4.2%
59.4%
22.4%
1.0%
22.4%
22.2%
12.4%
23.4%
135.3%
-8.1%
135.3%
17.5%
3.4%
17.5%
15.4%
6.7%
15.4%
(D)/(B)
%
-2.7%
115.8%
19.6%
-17.2%
-29.2%
31.8%
38.3%
Menu
Mills - Income Statement
em R$ milhes
3Q12
2Q13
3Q13
173.4
211.8
222.0
(61.7)
(87.3)
(93.5)
Gross profit
111.8
124.5
128.5
(40.3)
(56.8)
(56.0)
Operating profit
71.5
67.7
72.4
Financial expense
(9.8)
(16.8)
(14.8)
Financial income
1.0
5.0
2.5
Financial result
(8.8)
(11.8)
(12.3)
62.6
55.9
60.1
(21.8)
(11.3)
(21.5)
40.9
44.6
38.6
(2.9)
3.5
1.0
Net income
38.0
48.1
39.6
126,314
127,120
127,314
0.30
0.38
0.31
Menu
Mills - Balance Sheet
em R$ milhes
3Q12
2Q13
3Q13
Assets
Current Assets
Cash and cash equivalents
299.4
47.3
45.7
Trade receivables
168.1
165.1
174.1
Inventories
21.3
30.9
30.9
Recoverable taxes
27.8
35.8
31.3
Advances to suppliers
6.9
0.7
0.3
0.0
4.0
0.4
106.7
95.2
4.6
8.6
9.4
528.0
399.1
387.4
Trade receivables
2.5
2.1
2.1
Recoverable taxes
29.5
34.8
42.3
Deferred taxes
Deposits in court
2.8
11.5
11.7
9.7
46.3
48.6
54.0
87.4
87.4
87.4
978.6
1,124.1
1,189.4
51.6
59.9
64.2
1,117.6
1,271.4
1,341.0
1,163.9
1,319.9
1,395.0
Total Assets
1,691.9
1,719.0
1,782.5
Investment
Property, plant and equipment
Intangible assets
in R$ millions
3Q12
2Q13
3Q13
Liabilities
Current Liabilities
Suppliers
46.1
70.1
61.1
109.1
15.7
14.5
Debentures
13.2
110.6
110.0
37.2
23.8
25.9
4.7
0.8
9.8
0.9
0.9
0.9
Taxes payable
9.9
10.7
7.1
11.8
10.8
15.0
18.8
20.4
20.4
12.7
25.2
14.6
6.3
3.1
3.1
258.0
279.7
307.7
40.4
23.5
20.8
537.3
447.8
448.0
11.0
Non-Current Liabilities
Borrowings and financings
Debentures
Provision for tax, civil and labor risks
10.6
10.4
Deferred taxes
5.5
1.0
9.9
9.6
9.5
Other Liabilities
0.6
0.2
0.0
599.2
497.3
489.8
Total Liabilities
857.2
776.9
797.6
Capital
536.2
548.8
551.9
Earnings reserves
210.9
321.0
321.0
4.7
7.2
Stockholders' Equity
Capital reserves
Valuation adjustments to equity
Retained earnings
Total Stockholders' Equity
Total Liabilities and Stockholders' Equity
(1.9)
0.3
2.9
0.5
89.2
64.6
104.3
834.7
942.1
984.9
1,691.9
1,719.0
1,782.5
Not including the pro-forma adjustments regarding the Industrial Services business unit.
Menu
Mills - Cash flow
in R$ millions
3Q12
2Q13
3Q13
58.6
60.5
61.8
27.4
34.0
33.9
(4.8)
0.5
0.3
1.9
2.5
2.4
3.9
6.8
4.2
(8.8)
(11.5)
(16.5)
Interest, monetary and exchange rate variation on loans, contingencies and deposits in court
12.1
14.5
13.4
2.0
2.7
5.2
33.7
49.4
42.9
(13.6)
(21.1)
(1.0)
(6.3)
(0.9)
(0.1)
5.6
(1.4)
14.1
(0.0)
0.1
2.0
1.5
(0.7)
3.1
(2.4)
(2.5)
(0.2)
5.1
3.3
4.0
Taxes payable
2.5
3.0
(3.6)
Adjustments
Other liabilities
1.8
(7.6)
(0.1)
(6.0)
(27.8)
18.2
86.4
82.2
122.9
Interest paid
(3.1)
(12.8)
(14.4)
(8.4)
(17.7)
(9.6)
(0.1)
(0.2)
(0.5)
51.4
98.5
Lawsuits settled
Net cash generated by operating activities
74.9
138.0
25.2
(78.1)
(136.7)
(139.6)
8.5
25.3
17.4
(69.6)
26.7
(96.9)
2.6
9.3
3.1
(36.2)
(3.0)
(9.7)
(28.6)
(3.2)
Repayment of borrowings
Borrowings raised
272.0
0.1
264.8
(55.4)
(3.1)
270.1
22.8
(1.6)
29.3
24.5
47.3
299.4
47.3
45.7
Not including the pro-forma adjustments regarding the Industrial Services business unit.