Apresentao

1Q16
ResultsUsiminas
2T11 - APIMEC
Webcast
Classification of the information: Public

1Q16 Results Consolidated

Main Indicators

Steel Sales thousand tons

1,205

4Q15

Iron Ore Sales thousand tons

974

-25%

+45%

903

670

1Q16

4Q15

Adjusted EBITDA R$ million

1Q16

Net (loss) Profit R$ million

52

(151)

+R$1,475
+R$301
(1,627)

(250)
4Q15

1Q16

4Q15

1Q16

Sales Volume - Steel

Thousand tons

1,256

1,275
1,179

12%

1,205

33%

27%
36%

903

16%

88%
67%

1Q15

2Q15

73%
64%

3Q15
Domestic Market

4Q15

84%

1Q16

Exports
3

Adjusted EBITDA and EBITDA Margin - Steel

R$ Million

13%
337
19

9%

206
31
6

3%
46
1
(6)
(82)
-4%

72
(37)
(52)
(2)
(179)
-8%

1Q15
Assets Sale/
Write-off

2Q15
Sales of Surplus
Electric Energy

3Q15

4Q15
Adjusted EBITDA

1Q16
Adjusted EBITDA
Margin

Sales Volume Mining

Thousand tons

1,206
1,139
91

135
974

775
41

1,048

670
12

16

658

614

4Q15

1Q16

1,071
734

1Q15

344

2Q15
Sales to Usiminas

3Q15

Sales to 3rd parties - Domestic Market

Exports

Adjusted EBITDA and EBITDA Margin - Mining

R$ Million

43
9
36%

10

(6)
-5%

(24)

(4)
(12)
-11%

-27%

(102)

-119%
1Q15

2Q15

Sales of Surplus Electric Energy

3Q15

Adjusted EBITDA

4Q15

1Q16

Adjusted EBITDA Margin

6

Adjusted EBITDA and EBITDA Margin - Consolidated

R$ Million
380
28
14%
227
41
4
8%
52 3%

(2)
(11)
-3%

(1)
(50)

72
(41)

(65)
-10%

(250)

1Q15
Assets Sale/
Write-off

2Q15
Sales of Surplus
Electric Energy

3Q15

4Q15
Adjusted EBITDA

1Q16
Adjusted EBITDA
Margin

G&A Evolution - Consolidated

R$ Million

4.6%

4.5%

4.4%

4.2%

4.0%

-17%

122
108

1Q15

101

2Q15

3Q15
G&A

109
90

4Q15

1Q16

G&A/Net Revenues
8

Working Capital Consolidated

R$ Billion

-6%

2.7

1Q15

2.7

2Q15

2.4

2.3

3Q15

4Q15

2.2

1Q16
9

Steel Inventories Steel Business Unit

Thousand tons

Inventory
turnover
(days)

933

911

747
639
-24%
485

67

64

57

48

48

1Q15

2Q15

3Q15

4Q15

1Q16
10

Cash Position and Indebtedness Consolidated

R$ Million

7,023

7,974

7,473

5,577
4,528

2,621

1Q15

7,705

5,681

7,282

5,546

4,716

2,889

2,397

2Q15

3Q15

Cash

Gross Debt

2,024

4Q15

1,736

1Q16

Net Debt
11

CAPEX Consolidated
R$ Million
1,643
112

555
981
64

1,110
52
94
784
50
112

317

976

964

622

600

2
2012

2013
Others

2014
Mining

2015

70
64 4

1Q16

Steel
12

Financial Reconfiguration

Standstill agreement with the main creditors signed in March/16 for

120 days;
Capital increase duly approved for R$1 billion;
Access to Usiminas Mining cash (Intercompany Loan / capital reduction);
Debt renegotiation for a new principal profile;
Assets sale.

13

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