SAO PAULO, Aug. 7, 2014 /PRNewswire/ -- Eternit S.A.
(BM&FBOVESPA: ETER3; OTC: ETNTY) announces its results for the
2Q14.
The performance of the construction materials sector in 2Q14 was
well below the growth expected for the period by the Brazilian
Association of Construction Material Industry (ABRAMAT), mainly due
to the reduction in the number of working days because of the World
Cup. However, the Company outperformed the sector despite the fact
that the second quarter is seasonally a period of lower demand for
Eternit.
The volume of chrysotile mineral sold in 2Q14 was 70,500 tons,
decreasing 11.0% from 2Q13 due to the lower demand for construction
materials in the domestic market and the non-recurring slowdown of
the economies in Asia. In the same
period, fiber-cement sales, including construction solutions,
reached 190,000 tons, down 2.2% from 2Q13, whereas concrete roofing
tiles sales decreased 20.0%, mainly due to the slowdown of the
construction materials sector and a change in the behavior of
consumers, who reduced the pace of renovations and retail
purchases.
Consolidated net revenue in 2Q14 came to R$ 220.6 million, down 8.6% from 2Q13, mainly due
to the lower sales volume of its portfolio, which was partially
offset by the price increase in the fiber-cement and concrete
roofing tiles segments, as well as the appreciation of the U.S.
dollar against the Brazilian real.
In 2Q14, EBITDA reached R$ 35.3
million, decreasing 25.7% from 2Q13, chiefly due to the
lower sales volume of chrysotile asbestos, fiber-cement and
concrete roofing tiles, and the non-recurring increase in operating
expenses resulting from the administrative and commercial
restructuring of the subsidiary Tegula. As a result, net income
decreased 33.2% from 2Q13 to R$ 18.1
million in 2Q14.
Investments in 1H14 totaled R$ 44.0
million, primarily allocated to the installation of a unit
for the research, development and production of construction
material inputs and the maintenance and modernization of the
Group's industrial facilities.
In 2014, Eternit's dividend yield is already at 6.9%, with
earnings distributed to shareholders amounting to R$ 53.7 million.
Conference call/Webcast
Date: 08/08/14
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/2q14.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