Apresentao

3Q15
ResultsUsiminas
2T11 - APIMEC
Webcast
Classification of the information: Public

3Q15 Results Consolidated

Main Indicators

Steel Sales thousand tons

1,275

Iron Ore Sales thousand tons

1,206

-8%

-36%

1,179

2Q15

3Q15

Adjusted EBITDA R$ million

227

775

2Q15

3Q15

Net (loss) Profit R$ million

-R$293

+33%
(65)

2Q15

3Q15

(781)
2Q15

(1,042)

3Q15

Sales Volume - Steel

Thousand tons

1,401
24%

1,256

1,247

1,275
1,179

12%

19%

33%
36%

76%

3Q14

88%

81%

67%

4Q14

1Q15
Exports

2Q15

64%

3Q15

Domestic Market
3

Adjusted EBITDA and EBITDA Margin - Steel

R$ Million

13%

13%
11%

9%

343
115

268

337
19
206
31

68

3Q14

4Q14

1Q15

Sales of Electric Energy Surplus

2Q15

(6)
(82) -4%
3Q15

Adjusted EBITDA Margin

4

Sales Volume Mining

Thousand tons

1,238
199

1,161
39

1,139
91

1,206
135

775
41
1,039

1,122

1,048

1,071

734

3Q14

4Q14

1Q15

Sales to 3rd parties - Domestic Market

2Q15

3Q15

Sales to Usiminas
5

Adjusted EBITDA and EBITDA Margin - Mining

R$ Million

36%
27%
43
11%
11

9
24

22

10

-5%
(6)
(24)

3Q14

4Q14

1Q15

Sales of Electric Energy Surplus

2Q15

-27%
3Q15

Adjusted EBITDA Margin

6

Adjusted EBITDA and EBITDA Margin - Consolidated

R$ Million

14%
12%

12%
8%

357

124

3Q14

302

380
28
227
41

90

4Q14

1Q15

Sales of Electric Energy Surplus

2Q15

(2)
(65) -3%
3Q15

Adjusted EBITDA Margin

7

G&A Evolution - Consolidated

R$ Million

5.2%
4.6%
4.2%

4.0%

3.8%

-6%

112

3Q14

134

122

4Q14

1Q15

G&A

108

101

2Q15

3Q15

G&A/Receita Lquida
8

Working Capital Consolidated

R$ Billion

-10%

2.8
2.7

2.7

2.4

2.4

3Q14

4Q14

1Q15

2Q15

3Q15

Steel Inventories Steel Business Unit

Thousand tons

Inventory
turnover
(days)

883

886

933

911

-18%

747

57

64

67

64

57

3Q14

4Q14

1Q15

2Q15

3Q15
10

Cash Position and Indebtedness Consolidated

R$ Million

6,835

7,149

6,702

7,605

8,111

5,714
4,528

4,716

3,778

3,850

3,057

2,852

2,621

2,889

3Q14

4Q14

1Q15

2Q15

Cash

Gross Debt

2,397

3Q15

Net Debt
11

CAPEX Consolidated
R$ Million
2,490
276
365
1,643
112
555

1,110
52 94

981
64

1,849

317
976

964
600

2011

2012

514

2013
Others

Mining

615
35
67

2014

9M15

Steel
12

Industrial Reconfiguration

TEMPORARILY INTERRUPTION OF THE

PRIMARY AREAS OF CUBATO PLANT

13

Industrial Reconfiguration
Outlook

Flat steel consumption in

the domestic market: fall of
18% in 9M15 x 9M14, with no
expectation of recovery
Excess of global production
capacity: 735 million tons
Continually decrease of
international prices
High tax burden
Unfair competition with
steel imports
High energy costs

USIMINAS STRATEGY

Low demand and

low
competitiveness
require structural
adjustments in
scale and
productivity

Temporarily interruption of the

primary areas of Cubato plant (Sinter
and Coke plants, Blast Furnaces and
Steelworks), remaining in operations
its hot and cold rolling lines and port
terminal

Scale adjustment and increase on

competitiveness

FX Rate devaluation,
increasing raw materials costs

14

ADR
Level I

Cristina Morgan C. Drumond

Head of IR
cristina.drumond@usiminas.com
Phone: +55 31 3499-8772

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