2Q15 RESULTS

2015: Focus on adjustments and attention to opportunities

• Net Revenues: R$171.5 million, down by 24.3% against the same period of the previous year (R$226.7 million), primarily as a result of the slower pace of conversion of the order portfolio into net revenues

• Gross Profit: R$18.8 million, down by 66.7%, particularly due to lower portfolio conversion rates, and assembly and idleness costs due to the Company's structure.

• Net Income: R$0.6 million as a result of decrease in lower revenues, of idleness costs and lower rates of conversion of the order portfolio.

• EBITDA: R$3.5 million, with a margin of 2.0%.

• Net Debt: R$7.6 million at the end of the quarter (negative by R$72.2 million at the end of 2014).

2

Sales – R$ Thousand

3

23,962

245,766

-60,020 (-20%)

2Q15

233,618

27,955 10,996

15,575

179,092

2Q14

293,638

16,610

7,299

Exports -35% Bulk Handling +68%

Parts and Services +51% Storage -27%

1H14

601,221

45,095

15,687 47,388

493,051

-132,328 (-22%)

1H15

468,893

106,804

19,777 32,017

310,295

Exports -32% Bulk Handling +137%

Parts and Services +26% Storage -37%

4

PRODUCTION –TONS. OUTPUT –TONS.

BACK LOG – R$ Thousand NET REVENUE – R$ Thousand

38,900

2Q15

26,200

-12,700 (-33%)

1H14

-7,198 (-31%)

1H15

16,000

2Q14

23,198 18,700

2Q15 2Q14

25,394 29,800

-15,300 (-34%)

1H15

-6,694 (-26%)

1H14

45,100

+119,394 (+53%)

JUN/15

344,942

DEC/14

225,548 279,429

1H14

399,953

-55,163 (-24%)

-120,524 (-30%)

1H15 2Q15

171,520

2Q14

226,683

5

GROSS PROFIT (R$ Thousand)

GROSS MARGIN (%)

1H14

99,665

1H15

-77,914 (-78%)

-37,603 (-67%)

21,751

8% 25%

2Q15

18,759

11%

2Q14

56,362

25%

EBITDA (R$ Thousand)

EBITDA MARGIN (%)

EBITDA

6

1H15

-41,219 (-92%)

-7,507

-86,948 (-109%)

-3%

1H14

79,441

20%

2Q15

3,450

2%

2Q14

44,669

20%

Net Income (R$ thousands) 2Q15 2Q14 Δ% 1H15 1H14 Δ%

Income (Loss) for the Period 648 25.067 -97,4% (13.633) 48.841 -127,9%

(+) Provision for Income and Social Contribution Taxes - Current and Deferred (2.353) 13.711 -117,2% (8.307) 20.307 -140,9%

(- ) Financial Revenues (4.521) (4.789) -5,6% (11.594) (12.243) -5,3%

(+) Financial Expenses 4.060 6.573 -38,2% 14.930 14.380 +3,8%

(+) Depreciation and Amortization 5.616 4.107 +36,7% 11.097 8.156 36,1%

EBITDA 3.450 44.669 -92,3% (7.507) 79.441 n/a

7

INDEBTEDNESS

2Q15

7,592

Cash

88,714

Long Term

-16,212

Short Term

7,306

2014

-72,216

2014

+79,808 (-111%)

7,592

-72,216

2Q15

Debt (R$ thousands) 2Q15 2014 Var (%)

EXIM Pre-Shipment 29.782 25.284 +17,8%

FINAME PSI 1.212 1.102 +10,0%

FINIMP 10.545 7.874 +33,9%

FINEP 3.536 3.509 +0,8%

Short Term 45.075 37.769 +19,3%

Provisions 25.767 39.885 -35,4%

FINAME PSI 9.938 10.241 -3,0%

FINEP 16.709 18.500 -9,7%

Long Term 52.414 68.626 -23,6%

Total Debt 97.489 106.395 -8,4%

Cash and Cash Equivalents (Current and Non-Current)(89.897) (178.611) -49,7%

Net Debt 7.592 (72.216) n/a

8

NET PROFIT IN THE PERIOD (R$ Thousand)

% OF NET REVENUE EARNINGS BEFORE INCOME TAX AND SOCIAL

CONTRIBUTION ON NET INCOME (R$ Thousand)

% OF NET REVENUE

1H15 1H14

-21,940

-8%

69,148

17%

2Q15

-1,705

-91,088 (-131.7%)

-40,483 (-104%)

-1%

2Q14

38,778

17% 648

-24,419 (-97%)

-62,474 (-127.9%)

1H15

-13,633

-5%

1H14

48,841

12%

2Q15

0%

2Q14

25,067

11%

9

Ownership Breakdown

06/30/2014

06/30/2015

Geração Futuro Corretora de Valores

Victoire Brasil Investimentos Adm. Recursos

9.45%

8.00%

9.94% Fernando Francisco Brochado Heller

13.00%

Banco do Brasil Investimentos 17.45%

Previ

17.48%

Banco Clássico

Other Minority

24.68%

17.54%

Previ

17.56%

Banco do Brasil Investimentos

Sul America Expertise FIA

4.92%

Banco Clássico

9.99% Fernando Francisco Brochado Heller

12.11%

Other Minority

37.88%

10

Appendix

11

RESULTS

CONSOLIDATED STATEMENTS OF INCOME 2Q15

Vertical

Analysis

2Q15

2Q14

Vertical

Analysis

2Q15

Horizontal

Analysis

2Q15x2Q14

(In thousands of Reais, except pergentages)

NET OPERATING REVENUES 171.520 100,00% 226.683 100,00% -24,33%

COST OF PRODUCTS SOLD (152.761) -89,06% (170.321) -75,14% -10,31%

GROSS PROFIT 18.759 10,94% 56.362 24,86% -66,72%

Selling expenses (9.860) -5,75% (9.037) -3,99% 9,11%

General and administrative expenses (14.256) -8,31% (10.709) -4,72% 33,12%

Other operating revenues 5.203 3,03% 8.005 3,53% -35,00%

Other operating expenses (2.012) -1,17% (4.059) -1,78% -50,43%

OPERATING INCOME (2.166) -1,26% 40.562 17,89% -105,34%

Financial expenses (4.060) -2,37% (6.573) -2,90% -38,23%

Financial revenues 4.521 2,64% 4.789 2,12% -5,60%

INCOME BEFORE INCOME AND SOCIAL CONTRIBUTION TAXES (1.705) -0,99% 38.778 17,11% -104,40%-

Current income and social contribution taxes 307 0,18% (9.707) -4,28% -103,16%

Deferred income and social contribution taxes 2.046 1,19% (4.004) -1,77% -151,10%

INCOME AND SOCIAL CONTRIBUTION TAXES 2.353 1,37% (13.711) -6,05% -117,16%

NET INCOME FOR THE PERIOD 648 0,38% 25.067 11,06% -97,41%- -

12

RESULTS - ACCUMULATED

CONSOLIDATED STATEMENTS OF INCOME -

ACCUMULATED1H15

Vertical

Analysis

1H15

1H14

Vertical

Analysis

1H14

Horizontal

Analysis

1H15 vs

1H14

(In thousands of Reais, except percentages)

NET OPERATING REVENUES 279.429 100,00% 399.953 100,00% -30,13%

COST OF PRODUCTS SOLD (257.678) -92,22% (300.288) -75,08% -14,19%

GROSS PROFIT 21.751 7,78% 99.665 24,92% -78,18%

Selling expenses (18.952) -6,78% (17.207) -4,30% 10,14%

General and administrative expenses (25.726) -9,21% (20.241) -5,06% 27,10%

Other operating revenues 7.470 2,67% 14.637 3,66% -48,96%

Other operating expenses (3.147) -1,13% (5.569) -1,39% -43,49%

OPERATING INCOME (18.604) -6,66% 71.285 17,82% -126,10%

Financial expenses (14.930) -5,34% (14.380) -3,60% 3,82%

Financial revenues 11.594 4,15% 12.243 3,06% -5,30%

INCOME BEFORE INCOME AND SOCIAL CONTRIBUTION TAXES (21.940) -7,85% 69.148 17,28% -131,73%-

Current income and social contribution taxes (57) -0,02% (14.127) -3,53% -99,60%

Deferred income and social contribution taxes 8.364 2,99% (6.180) -1,55% -235,34%

INCOME AND SOCIAL CONTRIBUTION TAXES 8.307 2,97% (20.307) -5,08% -140,91%

NET INCOME FOR THE PERIOD (13.633) -4,88% 48.841 12,20% -127,91%19.476 -

13

Balance sheet - Assets

14

Balance sheet - Liabilities

Olivier Michel Colas Felipe Fontes

Vice-President Executive Officer IR Analyst

THANK YOU !

Tel.: +55 (11) 4873-0302

E-mail: ri.kepler@kepler.com.br

Website: www.kepler.com.br/ri

Investor Relations