4Q12 Presentation of Results
Transcript of 4Q12 Presentation of Results
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Presentation of 4Q12 Results
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Disclaimer
This presentation may include declarations about Mills expectations regarding future
events or results. All declarations based upon future expectations, rather than
historical facts, are subject to various risks and uncertainties. Mills cannot guarantee
that such declarations will prove to be correct. These risks and uncertainties includefactors related to the following: the Brazilian economy, capital markets, infrastructure,
real estate and oil & gas sectors, among others, and governmental rules, that are
subject to change without prior notice. To obtain further information on factors that
may give rise to results different from those forecast by Mills, please consult the
reports filed with the Brazilian Comisso de Valores Mobilirios (CVM).
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Agenda
4Q12 and 2012 Results
Growth plan
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4Q12 Highlights
41 ROIC: Return on Invested Capital
4Q12/4Q11 +27.5% +20.0% - 234 bps
154.2145.0
164.0175.1 175.1
193.5 199.1211.1
222.2 222.2
246.8
45.4 52.858.0 50.8
59.976.4
86.2 84.496.1 90.4 91.7
30.1 22.2 22.6 17.8 23.829.5 32.7
39.2 38.0 34.7 41.6
29.4%
36.4% 35.4%
29.0%34.2%
39.5%
43.3%40.0%
43.2%40.7%
37.1%
18.8% 13.8% 12.7%
8.6%11.1%
14.2% 15.1% 13.6%15.8% 14.5%
14.5%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
-
50.0
100.0
150.0
200.0
250.0
300.0
4Q10 1Q11 2Q11 3Q11 3Q11* 4Q11 1Q12 2Q12 3Q12 3Q12* 4Q12
Net Revenues EBITDA Net Income EBIDA Margin ROIC
+27 bps+41.0%
4Q12/3Q12* +11.1% +1.4% - 354 bps + 3 bps+19.9%
In R$ million
* Excluding the negative impact of R$ 9.1 million of Allowance for Doubtful Debts (ADD) in 3Q11 and the positive impact of the provisions reversal in theamount of R$ 6.8 million in 3Q12
NewRecords
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Despite the weak performance of the Brazilian economy in 2012, we achieved strong growth
as shown in our key financial indicators
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2012
Expected
2012
ActualBrazil GDP 3.84% 1 0.90%
Civil ConstructionGDP 5.00% 1.40%
Industrial GDP 3.70% 3 -0.80%
PAC Investments R$ 74 biR$ 39 bi(-47%)
Residentiallaunches 4 -22.7% -49.6%
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1 Focus Report, January 4, 2013.2 IBGE 3 Bacen, Inflation Report, December 2012.4 8 listed companies: PDG, Cyrela, Rossi, Brookfield, Eztec, Tecnisa, Trisul, Gafisa.5 For the first nine months of 2012, compared to the first nine months of 2011
29.8%
50.5%
64.4%
0%
10%
20%
30%
40%
50%
60%
70%
Revenue EBITDA Net earnings
2012/2011 Growth (%)
Economic indexes Mills Financial Indicators
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Net revenues reached R$ 246.8 million in 4Q12
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34.231.8
30.6
33.2 33.236.1
39.341.9
45.5 45.547.3
13.315.6
14.1
8.6
14.4
19.5 18.921.2
24.1 22.820.2
38.8%
48.9%46.2%
26.0%
43.5%
54.0%
48.0%50.6%
52.9%50.2% 42.7%
18.8%
14.4%12.1%
4.5%
12.0%
17.5% 16.6% 17.8%19.7% 18.3%
14.8%
0%
10%
20%
30%
40%
50%
60%
-
5.0
10.0
15.0
20.0
25.0
30.0
35.0
40.0
45.0
50.0
4Q10 1Q11 2Q11 3Q11 3Q11* 4Q11 1Q12 2Q12 3Q12 3Q12* 4Q12
Net Revenue EBITDA EBITDA Margin ROIC
Heavy Construction Financial performance
1 ROIC: Return on Invested Capital7
+31.2% +3.6% - 1,130 bps - 270 bps
+3.9% - 11.6% - 750 bps - 350 bps
In R$ million
4Q12/4Q11
4Q12/3Q12*
* Excluding the negative impact of R$ 5.8 million of Allowance for Doubtful Debts (ADD) in 3Q11 and the positive impact of the provisions reversal in the amount of R$1.5 million in 3Q12
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8
Heavy Construction 2012 Highlights
Source: Mills
32.2%
45.9%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%50%
Revenue EBITDA
2012/2011 Growth (%)
Financial Indicators Heavy Construction
Alumills
Modular System
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Belo Monte hydroelectricpowerplant Monorail line Gold Subway line 5 SP Subway line 4 RJ Au port Verdo stadium Light rail Cuiab Norte-Sul railway New phases of Ponta da Madeiraport
Jirau, Colder and Teles Pireshydroelectric powerplants Abreu e Lima refinery Paranaenses arena Monorail line Silver - SP
Transordestina railway BR-448 Comperj refinery Manaus airport BRT Transcarioca Porto Maravilha Aratu Port Metropolitan arch RJ Carajs railway BRT Belm
Subway line 2 - SP Maracan stadium Man Garrincha stadium Sudeste port Ponta da Madeira port
Serra Leste mine
Viracopos airport Braslia airport Surroundings of the Maracan stadium Surroundings of the Corinthians Arena
Bridge over the Araguaia River Expansion of Carajs mine Paraguau shipyard
New phases of Belo Monte hydroeletric powerplant New stretches of subway lines 4 and 5 New stretches of Monorail line Gold BRT Fortaleza
Guarulhos airport Fortaleza airport Natal airport
Important contracts per stage in the evolution of monthly revenue from the heavy
construction projectsNew
contracts*Contracts with
growing volume of equipment
Contracts with highvolume of equipment
Contracts in thedemobilization process
Source: Mills
Time
R e v e n u e
I n d e x
( B a s
i s 1 0 0 =
M a x
i m u m
m o n
t h l y r e v e n u e
i n
t h e
l i f e o
f c o n s
t r u c
t i o n
)
Newcontracts*
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The construction work related to World Cup and Olympic events represented 22%
of Heavy Construction 4Q12 revenue
10Source: Mills
4Q12 RevenueR$ 47.3 million
World Cupand Olympics
22%
Industry25%
Infrastructure39%
Others14%
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32.829.2
34.7
39.4
52.46 52.5
58.9 60.5 60.5
66.0
11.6 12.3 13.516.4
23.926.3 27.2
33.829.4
26.1
35.5%
42.0%38.8%
41.6%
45.5%50.1% 46.1%
55.9%
48.6%
39.6%
22.3%
15.2%
13.0% 12.5%
16.3%15.6% 14.8%
20.2%
16.9%
12.6%
0%
10%
20%
30%
40%
50%
60%
-
10.0
20.0
30.0
40.0
50.0
60.0
70.0
4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 3Q12* 4Q12
Net Revenue EBITDA EBITDA Margin ROIC
Jahu Residential and Commercial Construction Financial performance
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+25.9% +9.5% - 590 bps -370 bps
+9.1% - 11.2% - 900 bps - 430 bps
In R$ million
4Q12/4Q11
4Q12/3Q12*
* Excluding the positive effect of R$ 5.3 million of tax contingency reversal in 3Q121 ROIC: Return on Invested Capital
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Jahu 2012 Highlights
52.8%
71.9%
0%
10%
20%
30%
40%
50%
60%
70%
80%
Revenue EBITDA
2012/2011 Growth (%)
Financial Indicators - Jahu
Mills Deck Light Alumills
Mast climbing platformSL-2000
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Great penetration of concrete wall for the Minha Casa, Minha Vida program
Use of concrete wall should reach 40% of the properties of the Minha Casa, Minha Vida program in2014/15
3%
97%
2010/11
15%
85%
2012/13
40%
60%
2014/15
30,000 HU 150,000 HU 400,000 HU
Concrete wall construction Construction using other systems
Source: Criative
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Industrial Services Financial performance
141 ROIC: Return On Invested Capital
+18.2% +259.6% +950 bps +1,450 bps
+21.5% +7,268.7% +1,400 bps +1,950 bps
In R$ million
4Q12/4Q11
4Q12/3Q12
56.4
50.2
57.5 56.9
50.2 50.954.8
48.8
59.3
5.8 6.18.1
4.12.3
6.2 4.7
0.1
8.4
10.3%
12.2% 14.2%
7.2%4.7%
12.1%
8.5%
0.2%
14.2%14.8%
9.6%
14.2%
3.2%
-1.2%
7.5%
3.9%
-6.2%
13.3%
-10%
-5%
0%
5%
10%
15%
20%
-
10.0
20.0
30.0
40.0
50.0
60.0
70.0
4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12
Net Revenue EBITDA EBITDA Margin ROIC
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Industrial Services 2012 Highlights
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-0.5%-6.4%
-40%
-30%
-20%
-10%
0%Revenue EBITDA
2012/2011 Growth (%)Financial Indicators Industrial Services
Congratulations to all Mills employees for 1,000 (one thousand) days without accidents aboard the platform P-23. Suchan accomplishment would never have beenachieved without the experience and commitment to safety of professionals onboard.
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Oil and Gas contracts represented 33% of net revenue in 4Q12
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Per type Per industry
4Q12 RevenueR$ 59.3 million
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30.8 33.7
41.2
45.6 45.6
54.9 56.5 55.4
67.4
74.2
14.718.9
22.3 21.725.0
30.734.9
31.4
38.0 36.9
47.6%
56.0%54.1%
47.6%
54.8% 56.0%
61.8%
56.6%
56.5% 49.8%
18.7%
17.3% 17.1%
12.9%
16.0%18.6% 20.3%
16.3% 16.3% 16.9%
0%
10%
20%
30%
40%
50%
60%
70%
-
10.0
20.0
30.0
40.0
50.0
60.0
70.0
80.0
4Q10 1Q11 2Q11 3Q11 3Q11* 4Q11 1Q12 2Q12 3Q12 4Q12
Net Revenue EBITDA EBITDA Margin ROIC
Rental Financial Performance
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+35.3% +20.2% - 620 bps - 170 bps
+ 10.2% -2.9% - 670 bps + 60 bps
In R$ million
4Q12/4Q11
4Q12/3Q12
* Excluding the negative effect of R$ 3.3 million of Allowance for Doubtful Debt (ADD) in 3Q111 ROIC: Return on Invested Capital
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Rental 2012 Highlights
44.5%
50.8%
41%
42%
43%
44%
45%
46%
47%
48%
49%
50%
51%52%
Revenue EBITDA
2012/2011 Growth (%)
Financial Indicators - Rental Best Access Company of the Year at IAPA Awards
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Agenda
4Q12 and 2012 Results
Growth plan
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Presentation of 4Q12 Results
Mills Investor RelationsTel.: +55 (21) 2123-3700E-mail: [email protected]
www.mills.com.br/ri
mailto:[email protected]:[email protected]