Apresentao

1Q15
ResultsUsiminas
2T11 - APIMEC
Webcast

1Q15 Results Consolidated Figures

Main Indicators

Steel Sales thousand tons

1,247

+1%

4Q14

1,256

1,161

-2%
1,139

1Q15

Adjusted EBITDA R$ million

+26%

Iron Ore Sales thousand tons

4Q14

1Q15

Net (loss) Profit R$ million

380

302
(117)

+101%

4Q14

1Q15

4Q14

(235)

1Q15
2

Sales Volume - Steel

Thousand tons

1,437

1,456

12%

15%

1,401
24%

1,256

1,247

12%

19%

88%

1Q14

85%

2Q14
Exports

76%

81%

3Q14

4Q14

+10%

88%

1Q15

Domestic Market
3

Adjusted EBITDA and EBITDA Margin - Steel

R$ Million

Sales of electrical energy surplus

17%
16%
477
59

457
13%

81

13%

343

11%

115

268

337
19

68

1Q14

2Q14
Adjusted EBITDA

3Q14

4Q14

1Q15

Adjusted EBITDA Margin

4

Sales Volume Mining

Thousand tons

1,767
1,457

509

171

1,238

1,161

1,139

39

91

298

297

199

960

989

1,039

1,122

1,048

1Q14

2Q14

3Q14

4Q14

1Q15

Exports

Sales to 3rd parties - Domestic Market

Sales to Usiminas
5

Adjusted EBITDA and EBITDA Margin - Mining

R$ Million

Sales of electrical energy surplus

51%

175
16

36%

33%
27%

67
8

11%

43
24

1Q14

2Q14
Adjusted EBITDA

11
9

22

3Q14

4Q14

1Q15

Adjusted EBITDA Margin

6

Adjusted EBITDA and EBITDA Margin - Consolidated

R$ Million

Sales of electrical energy surplus

21%
18%
655

12%

75

12%

14%

549
89
380

357
302
124

1Q14

2Q14
Adjusted EBITDA

3Q14

28

90

4Q14

1Q15

Adjusted EBITDA Margin

7

G&A Evolution Consolidated

R$ Million

5.2%
4.6%
4.1%

4.1%

128

128

1Q14

2Q14

3.8%

112

3Q14

General and Administrative Expenses

134

4Q14

122

1Q15

G&A/Net Revenue
8

Working Capital Consolidated

R$ Billion

3.0

3.1

2.8
2.4

1Q14

2Q14

3Q14

4Q14

2.7

1Q15
9

Steel Inventories Steel Business Unit

Thousand tons

Inventory
turnover
(days)

1,060

995
883

886

933

66

61

57

64

67

1Q14

2Q14

3Q14

4Q14

1Q15
10

Cash Position and Indebtedness Consolidated

R$ Million

6,658

6,835

6,708

7,149
6,702

2.9
2.1

1.7

1.7

1.8

2,914

2,894

3,057

2,852

2,621

1Q14

2Q14

3Q14

4Q14

1Q15

Cash

Gross Debt

Net Debt/Adjusted EBITDA

11

CAPEX Consolidated
R$ Million

2,490
276
365
1,643
112
555

1,110
52
94

981
1,849

64
317
976

964
600

2011

2012

2013
Others

Mining

2014

232
25
198

1Q15

Steel
12

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

Investor Relations Manager

leonardo.rosa@usiminas.com
Phone: +55 31 3499-8550

Investor Relations Manager

diogo.goncalves@usiminas.com
Phone: +55 31 3499-8710

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.

Renata Costa Couto

Investor Relations Analyst
r.couto@usiminas.com
Phone: +55 31 3499-8619