SAO PAULO, May 8, 2014 /PRNewswire/ -- Eternit S.A.
(BM&FBOVESPA:ETER3;OTC:ETNTY) announces its results for the
1Q14.
The construction materials industry ended 1Q14 with growth well
below the forecast made by the Brazilian Construction Materials
Industry Association (ABRAMAT) for the period. Eternit ended the
period outperforming the industry, with its chrysotile mining
operations functioning at full capacity, while its fiber-cement and
concrete tile operations functioning at approximately 80% and 60%
capacity, respectively.
In 1Q14, chrysotile asbestos sales reached 74,900 tons,
increasing 24.4% from 1Q13 due to the higher demand for
fiber-cement roofing in the domestic market and the regular flow of
exports in the last quarters. During the same period, fiber-cement
sales, including construction solutions, totaled 213,000 tons,
increasing 6.2% from 1Q13, while concrete tiles grew 5.4% due to
higher demand in this market and to Tegula's strategy of selling
its products through construction material stores as well.
In 1Q14, consolidated net revenue amounted to R$ 243.7 million, up 15.3% from 1Q13, due to an
appropriate sales policy and the higher sales across its
portfolio.
In 1Q14, EBITDA reached R$ 42.4
million, up 9.1% from 1Q13, primarily due to the higher
sales volume of chrysotile asbestos, fiber-cement and concrete
tiles, an appropriate sales policy and higher exchange variation,
which partially offset the increase in the cost of goods sold,
which was higher than consolidated net revenue, and the increase in
operating expenses. As a result, net income increased 9.4% from
1Q13 to R$ 23.5 million in 1Q14.
In line with the Expansion and Diversification Plan, investments
in 1Q14 totaled R$ 29.2 million,
64.3% more than in 1Q13, and mainly went towards the installation
of a research, development and production unit for construction
material inputs in the state of Amazonas and the maintenance and
modernization of the Group's industrial facilities.
Eternit continues to be one of the publicly held corporations in
Brazil delivering the highest
returns to shareholders. In 2014, its dividend yield was 4.6% and
earnings distributed to shareholders totaled R$ 35.8 million.
Conference call/Webcasting
Date: 05/09/14
Time: 11.00 a.m. Brazilian
Local Time – 10.00 a.m. New York – 3.00
p.m. London
Presentation can be followed on the website link
www.ccall.com.br/eternit/1q14.htm or by telephone, dial
the following telephone number (1-786) 924-6977 -
Password:Eternit
IR Team Contact - +55 (11) 31914-3881/3194-3872
ri@eternit.com.br
SOURCE Eternit S.A.