Mills 3Q15 Result - xls

8/20/2019 Mills 3Q15 Result - xls

1/21

Mills Results

Index

Main Indicators

Revenue

COGS G&A

EBITDA

Capex per Business Unit

Financial Indicators per Business Unit

Incoe Stateent

Balance S!eet

Cas! "o#

ROIC

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2/21

Mills - Key financial indicators

in R$ million3Q14 2Q15 3Q15 (C)/(A) (C)/()

(A) () (C) ! !

Net revenue 191.5 147.9 136.5 -28.7% -7.7%

EBITDA 66.7 52.1 35.1 -47.4% -32.8%

EBITDA margin (% 34.8% 35.3% 25.7%

Net earning! ("#!! 3.2 -8.2 -17.2 -634.2% 11$.2%

&I' (% 2.1% -7.6% -7.5%

'ae) 19.5 9.7 9.5 -51.3% -1.6%

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3/21

Mills - "et re#ene %er ty%e

in R$ million 3Q14 2Q15 3Q15 (C)/(A) (C)/()

(A) () (C) ! !

enta* 161.4 125.9 116.$ -28.1% -7.9%

Te+,ni+a* !u#rt !ervi+e! 1.3 1.8 2.6 1$4.6% 43.2%

a*e! 19.1 12.3 1$.2 -46.7% -17.5%

&t,er! 9.8 7.8 7.7 -21.1% -1.8%

&otal net re#ene 1'15 14' 13*5 -2+! -!

Mills- "et re#ene %er ,siness nit

in R$ million 3Q14 ! 2Q15 ! 3Q15

eav/ +#n!tru+ti#n 51.9 27.1% 41.8 28.3% 41.2

ea* e!tate 48.6 25.4% 31.6 21.3% 26.5

enta* 91.$ 47.5% 74.5 5$.4% 68.7

&otal net re#ene 1'15 1! 14' 1! 13*5


4/21

!

3$.2%

19.4%

5$.4%

1!

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5/21

Mills - Cost of .oods and ser#ices sold (C0) and .eneral administrati#e and o%eratin. e%enses (0A) e

in R$ million 3Q14 ! 2Q15 ! 3Q15 !

23.3 18.6% 23.$ 23.9% 24.5 24.1%

'#!t! #0 !a*e #0 euiment 19.1 15.2% 8.2 8.6% 6.8 6.7%

'#!t! #0 a!!et rite-#00! 6.4 5.1% 3.2 3.3% 3.$ 3.$%

14.9 11.8% 14.2 14.8% 14.9 14.7%

'& 63.6 5$.7% 48.5 5$.6% 49.2 48.4%

A e) ADD 53.2 42.4% 45.5 47.5% 44.5 43.7%

ADD 8.7 6.9% 1.8 1.9% 8.$ 7.9%

&otal C0 0A 1255 1! '5' 1! 11 1!

A66

em R$ mil78es

3Q14 2Q15 3Q15 (C)/(A) (C)/()

(A) () (C) ! !

eav/ '#n!tru+ti#n 2.3 2.9 2.9 27.35% -2.65%

% Net evenue 4.34% 7.$4% 6.96%

ea* E!tate 2.2 $.8 -$.3 -116.$9% -146.23%

% Net evenue 4.46% 2.39% -1.32%

enta* 4.3 -1.8 5.4 26.41% -398.68%

% Net evenue 4.7$% -2.43% 7.87%

&otal A66 + 1+ + -+*! 343*2!

% Net Revenue 454! 122! 5+*!

em R$ mil78es

3Q14 2Q15 3Q15 (C)/(A) (C)/()

(A) () (C) ! !

'#n!tru+ti#n 22.4 22.2 22.2 -1.18% -$.39%

% A T#ta* '& 21.11% 26.82% 27.29%

enta* 2$.9 2$.8 2$.1 -3.58% -3.17%

% A T#ta* '& 33.71% 37.22% 32.19%

6e%reciation 43.3 43.$ 42.3 -2.34% -1.74%

% G&A + Total COGS 25.64% 3$.97% 29.36%

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'#!t! #0 # e)e+uti#n (g

Euiment !t#rage (,


6/21

-de%reciation


7/21

Mills - 9:&6A %er ,siness nit and 9:&6A mar.in

in R$ million 3Q14 ! 2Q15 ! 3Q15

'#n!tru+ti#n 16.7 25.1% 12.7 24.4% 8.7

enta* 5$.$ 74.9% 39.4 75.6% 26.4

&otal 9:&6A ** 1! 521 1! 351

9:&6A mar.in (!) 313! 31+! 23!

Mills - Reconciliation of 9:&6A


(A) () (C) ! !

Reslts of continin. o%erations 32 -+2 -12 -*342! 112!

inan+ia* re!u*t -17.8 -16.1 -15.2 -14.5% -5.2%

In+#me ta) an: !#+ia* +#ntriuti#n e)en!e! -1.7 -1.1 5.5 -433.7% -588.7%

%erational Reslts ,efore ;inancial Reslt 22 ' -5 -1331! -1+34!

Dere+iati#n 43.3 43.$ 42.3 -2.3% -1.7%

E)en!e! (revenue! re*ate: t# t,e In:u!tria* !ervi+e! 0#rmer u!ine!! unit $.7 $.1 $.3 -59.8% 123.4%

9:&6A ** 521 351 -44! -32+!

em R$ mil78es

3Q14 2Q15 3Q15 (C)/(A) (C)/()

(A) () (C) ! !

inan+ia* In+#me 1$.4 6.9 8.9 -14.6% 28.2%

inan+ia* E)en!e -28.2 -23.$ -24.1 -14.5% 4.9%

;inancial Reslt -1+ -1*1 -152 -14.5% -5.2%


8/21

!

24.8%

75.2%

1!

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9/21

Mills - :n#estment %er ,siness nit

in R$ million

Actal d.et

3Q14 2Q15 3Q15 'M15 215

(A) ()

enta* euiment

'#n!tru+ti#n 1$.8 5.1 4.2 1$.5 1$.$

enta* 3.$ $.$ $.$ $.$ $.$

Rental e


10/21

(A)/()

!

4.7%

n.a.

4+!

-38.$%

-254!

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11/21

Constrction


(A) () (C) ! !

Net revenue

enta* 81.7 6$.6 56.2 -31.2% -7.2%

Te+,ni+a* !u#rt !ervi+e! !a*e! an: #t,er! 18.8 12.7 11.5 -38.9% -1$.1%

&otal net re#ene 15 34 * -32*! -!

'& e)-:ere+iati#n 4$.1 28.$ 27.1 -32.5% -3.1%

A e)-:ere+iati#n an: ADD 39.2 29.$ 29.4 -25.$% 1.3%

ADD 4.4 3.7 2.5 -43.$% -31.9%

EBITDA 16.7 12.7 8.7 -48.1% -31.7%

EBITDA margin (% 16.6% 17.3% 12.8%

&I' (% 6.7% -2.2% -3.1%

'ae) 11.7 5.1 5.8 -5$.3% 13.2%

Inve!te: 'aita* 82$.3 774.6 743.9 -9.3% -4.$%

enta* net ;;E 577.9 539.7 521.3 -9.8% -3.4%

&t,er! 242.4 234.9 222.5 -8.2% -5.3%

Dere+iati#n 22.4 22.2 22.2 -1.2% -$.4%

Rental financial indicators


(A) () (C) ! !

Net revenue

enta* 79.7 65.3 59.8 -25.$% -8.4%

Te+,ni+a* !u#rt !ervi+e! !a*e! an: #t,er! 11.3 9.2 9.$ -2$.8% -2.6%

&otal net re#ene '1 45 *+ -245! -!

'& e)-:ere+iati#n 23.5 2$.5 22.1 -5.9% 7.6%

A e)-:ere+iati#n an: ADD 13.3 16.3 14.9 12.1% -8.9%

ADD 4.3 -1.8 5.4 26.4% -398.7%

EBITDA 5$.$ 39.4 26.4 -47.2% -33.1%

EBITDA margin (% 54.9% 53.$% 38.4%

&I' (% 1$.4% 1.2% -2.2%

'ae) 3.6 $.4 $.2 -94.8% -48.1%

Inve!te: 'aita* 485.5 425.5 4$1.6 -17.3% -5.6%

enta* net ;;E $.$ $.$ $.$ n.:. n.:.

&t,er! 485.5 425.5 4$1.6 -17.3% -5.6%

Dere+iati#n 2$.9 2$.8 2$.1 -3.6% -3.2%

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12/21

Mills - :ncome statement

in R$ million 3Q14 2Q15 3Q15

"et re#ene from sales and ser#ices 1'15 14' 13*5

'#!t #0 r#:u+t! !#*: an: !ervi+e! ren:ere: (1$2.7 (87.1 (87.$

0ross %rofit ++ *+ 4'5

&t,er #erati#na* revenue! - - -

enera* an: a:mini!trative e)en!e! (66.1 (51.8 (57.$

%eratin. %rofit 22 ' (5)

inan+ia* e)en!e (28.2 (23.$ (24.1

inan+ia* in+#me 1$.4 6.9 8.9

;inancial reslt (1+) (1*1) (152)

=rofit ,efore taation 4' (1) (22)

In+#me ta) an: !#+ia* +#ntriuti#n e)en!e! (1.7 (1.1 5.5

"et income (>oss) 32 (+2) (12)

Numer #0 !,are! at t,e en: #0 t,e eri#: (in t,#u!an:! 128$58 128$58 128$58

Net in+#me (< er !,are! $.$3 ($.$6 ($.14

= e+*a!!i0i+a:# e)+*uin:# uni:a:e :e neg>+i# ervi?#! In:u!triai! ara e0eit# :e +#mara?@#

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13/21

Mills - alance s7eet

in R$ million 3Q14 2Q15

Assets

'urrent A!!et!

'a!, an: +a!, euiva*ent! 161.1 138.$

Tra:e re+eiva*e! 177.9 121.1Invent#rie! 32.$ 21.4e+#vera*e ta)e! 29.8 29.8 A:van+e! t# !u*ier! $.2 $.2Derivative 0inan+ia* in!trument! $.1 -&t,er re+eiva*e!- a*e #0 inve!tee 17.$ 18.5&t,er +urrent a!!et! 4.7 7.5'urrent A!!et! ,e*: 0#r !a*e - -

T#ta* 'urrent A!!et! 422.7 336.6

N#n-'urrent A!!et!

Tra:e re+eiva*e! $.9 -e+#vera*e ta)e! 36.4 22.1De0erre: ta)e!

2$.$ 23.7De#!it! in +#urt 1$.5 11.4&t,er tra:e re+eiva*e! 34.$ 37.$&t,er a!!et! - 1.1

1$1.7 95.2

Inve!tment 87.4 87.4;r#ert/ *ant an: euiment 123$.9 1113.3Intangi*e a!!et! 76.$ 76.3

1394.3 1277.$

T#ta* N#n-'urrent A!!et! 1496.$ 1372.3

&otal Assets 1'1+ 1+'


>ia,ilities

'urrent "iai*itie!

u*ier! 18.6 11.1B#rr#ing! an: 0inan+ing! 46.4 3.2Deenture! 1$9.6 1$7.8a*arie! an: a/r#** +,arge! 25.3 21.7In+#me ta) an: !#+ia* +#ntriuti#n 2.9 -Ta) re0inan+ing r#gram (EI 1.$ 1.1Ta)e! a/a*e 4.7 2.9;r#0it !,aring a/a*e - -Divi:en:! an: intere!t #n euit/ a/a*e

21.8 $.$Derivative 0inan+ia* in!trument! 1.2 $.$&t,er +urrent *iai*itie! 2.1 $.2

T#ta* 'urrent "iai*itie! 233.6 148.1

N#n-'urrent "iai*itie!

B#rr#ing! an: 0inan+ing! 15.7 13.5Derivative 0inan+ia* in!trument! - -Deenture! 573.3 493.7;r#vi!i#n 0#r ta) +ivi* an: *a#r ri!! 12.8 12.$De0erre: ta)e! - -


14/21

Ta) re0inan+ing r#gram (EI 9.2 8.9

T#ta* N#n-'urrent "iai*itie! 611.$ 528.1

T#ta* "iai*itie! 844.6 676.2

toc?7olders@ 9ia,ilities and toc?7olders@ 9


15/21

3Q15

192.5

114.82$.5

28.8

$.2

-

19.1

7.6

22.$

4$5.5

-

17.6

29.211.7

19.1

-

77.7

87.4

1$49.2

78.2

1214.7

1292.4

1*''

3Q15

11.4

3.2

189.2

23.2

-

1.2

2.1

-

$.$-

$.6

23$.9

12.7

-

415.4

12.8

-

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16/21

9.3

45$.3

681.2

563.3

487.$

6.$

$.2

(39.9

1$16.7

1*''


17/21

Mills - Cas7flo


Cas7 flo from o%eratin. acti#ities

"et income ,efore taation 4' (1)

A:u!tment!

Dere+iati#n an: am#rtiati#n 43.3 43.$

;r#vi!i#n 0#r ta) +ivi* an: *a#r ri!! 1.5 ($.$

A++rue: e)en!e! #n !t#+ #ti#n! 2.4 2.2

;r#0it !,aring a/a*e (1.7 -

e!i:ua* va*ue #0 0i)e: an: intangi*e a!!et! - -

Ta) re0inan+ing r#gram (EI - -

ain #n !a*e #0 r#ert/ *ant an: euiment an: intangi*e a!!et! (12.$ ($.2

'aita* gain #n :i!#!a* #0 inve!tment - -

areta*e !e+uritie! in+#me - -

Intere!t m#netar/ an: e)+,ange rate variati#n #n *#an! +#ntingen+ie! an: :e#!it! in +#urt 18.9 19.7

A**#an+e 0#r :#ut0u* :et! 8.7 1.8

*# turn#ver invent#r/ r#vi!i#n! - -

&t,er! 12.3 $.8

33 *3

C7an.es in assets and lia,ilities

Tra:e re+eiva*e! 12.9 2.1

Invent#rie! (2.$ (2.3

e+#vera*e ta)e! 8.6 6.2

De#!it! in +#urt ($.1 ($.6&t,er a!!et! 3.4 ($.$

u*ier! 1.$ (3.7

a*arie! an: a/r#** +,arge! 1.$ 1.7

Ta)e! a/a*e ($.6 $.$

&t,er *iai*itie! (3.2 (1.1

211 22

Cas7 from o%erations ''3 *24

"a!uit! !ett*e: ($.2 ($.8

Intere!t ai: (16.8 (24.5

In+#me ta) an: !#+ia* +#ntriuti#n ai: (1$.7 -;r#0it !,aring ai: - -

"et cas7 .enerated ,y o%eratin. acti#ities 1* 32

Cas7 flo from in#estment acti#ities

;ur+,a!e! #0 r#ert/ *ant an: euiment an: intangi*e a!!et! (31.$ (6.4

;r#+ee:! 0r#m !a*e #0 r#ert/ *ant an: euiment an: intangi*e a!!et! 16.8 5.8

;r#+ee:! 0r#m !a*e #0 I u!ine!! unit 16.6 -

"et cas7 %roceeded from (a%%lied on) in#estment acti#ities 244 (**)

Cas7 flo from financin. acti#ities'aita* +#ntriuti#n! $.3 -

,are! in trea!ur/ - $.$

Divi:en:! an: intere!t #n +aita* inve!te: ai: (3.3 (21.8

ea/ment #0 #rr#ing! (3.6 (9$.8

"et cas7 .enerated ,y (sed in) financin. acti#ities (**) (1125)


18/21

:ncrease (decrease) in cas7 and cas7 e


19/21

3Q15

(22)

42.3

$.4

1.2

-

-

-

(7.1

-

-

2$.5

8.$

2.7

(3.3

*4

(5.2

$.9

5.9

($.5 $.5

1.6

1.5

($.9

$.8

4*

4*5

-

(18.6

--

2+

(9.5

18.2

18.6

233

-

-

($.$

($.8

(+)

enu


20/21

545

13+

1'25


21/21

Constrction Rental Mills

R:C #ariation (

Documents

Mills 3Q15 Result - xls