Mills 4Q12 Result

Mills' 4Q12 Result
Menu
Main Indicators
Revenue
COGS G&A
EBITDA
Financial Indicators per Business Segment
Income Statement
Balance Sheet
Cash flow
Capex per Business Segment
Mills - Main financial figures
in R$ millions
Net revenue
EBITDA
EBITDA margin (%)
Net earnings
4Q11
(A)
193.5
3Q12
(B)
222.2
3Q12
(C)
222.2
4Q12
(D)
(D)/(A)
%
(D)/(B)
%
(D)/(C)
%
2011
(E)
246.8
27.5%
11.1%
11.1%
677.6
20.0%
-4.6%
1.4%
238.1
76.4
96.1
90.4
91.7
39.5%
43.2%
40.7%
37.1%
29.5
38.0
34.7
41.6
ROIC (%)
14.2%
15.8%
14.5%
14.5%
Capex
114.4
79.4
79.4
76.3
35.1%
41.0%
9.6%
19.9%
92.2
12.3%
-33.3%
-4.0%
-4.0%
525.9
Menu
2012
(F)
(F)/(E)
%
879.3
29.8%
358.4
50.5%
40.8%
151.5
64.4%
14.7%
297.6
-43.4%
Mills - Net revenue per type
in R$ millions
4Q11
(A)
3Q12
(B)
4Q12
(C)
(C)/(A)
%
(C)/(B)
%
2011
(D)
2012
(E)
132.4
155.8
166.7
25.9%
7.0%
453.9
608.2
Technical support services
37.6
41.4
45.9
22.0%
10.8%
159.8
174.1
Sales
19.2
19.0
28.6
49.3%
50.6%
40.6
74.1
Others
4.3
6.0
5.6
30.3%
-6.9%
23.3
22.8
193.5
222.2
246.8
27.5%
11.1%
677.6
879.3
4Q12
Rental
Total net revenue
Mills - Net revenue per business segment

in R$ millions
Heavy Construction
4Q11
36.1
52.5
Jahu - Residential and Commercial Construction
Industrial Services
Rental
Total net revenue
50.2
3Q12
2011
18.6%
45.5
20.5%
47.3
19.2%
131.6
27.1%
60.5
27.2%
66.0
26.7%
155.8
25.9%
48.8
22.0%
59.3
24.0%
214.8
54.9
28.3%
67.4
30.3%
74.2
30.1%
175.4
193.5
100.0%
222.2
100.0%
246.8
100.0%
677.6
Menu
(E)/(D)
%
34.0%
8.9%
82.7%
-2.2%
29.8%
2012
19.4%
174.1
19.8%
23.0%
238.0
27.1%
31.7%
213.8
24.3%
25.9%
253.5
28.8%
100.0%
879.3
100.0%
Mills - EBITDA per division

in R$ millions
Heavy Construction
4Q11
19.5
Rental
Total EBITDA
EBITDA margin (%)
3Q12
3Q12
4Q12
25.5%
24.1
25.1%
22.8
24.1%
20.2
22.0%
31.2%
33.8
35.2%
33.8
35.7%
26.1
28.5%
2.3
3.1%
0.1
0.1%
0.1
0.1%
8.4
9.2%
30.7
40.2%
38.0
39.6%
38.0
40.1%
36.9
40.3%
76.4
100.0%
96.1
100.0%
94.8
100.0%
91.7
100.0%
23.9
Industrial Services
39.5%
43.2%
40.7%
37.1%
Menu
2011
2012
57.8
24.3%
84.3
23.5%
66.0
27.7%
113.4
31.7%
20.7
8.7%
19.4
5.4%
93.6
39.3%
141.2
39.4%
238.1
100.0%
358.4
100.0%
35.1%
40.8%
Mills - Cost of goods and services sold (COGS) and the general, administrative and operating expenses (G&A)
in R$ millions
4Q11
3Q12
3Q12
4Q12
Costs of job execution
53.3
45.5%
56.5
44.8%
56.5
42.9%
64.2
Costs of sale of equipment
11.8
10.1%
11.0
8.7%
11.0
8.4%
16.5
1.4
1.2%
1.9
1.5%
1.9
1.5%
0.2
Costs of asset write-offs

Equipment storage
7.1
6.1%
9.4
7.5%
9.4
7.2%
10.5
COGS, ex-depreciation
73.7
63.0%
78.9
62.5%
78.9
59.8%
91.4
G&A
Total COGS, ex-depreciation + G&A
43.4
117.1
37.0%
100.0%
47.3
126.2
37.5%
100.0%
52.9
131.8
40.2%
100.0%
63.8
155.1
Menu
2011
2012
41.4%
210.0
47.8%
225.2
43.2%
10.6%
25.5
5.8%
41.0
7.9%
0.1%
4.6
1.0%
4.9
0.9%
6.8%
27.3
6.2%
35.5
6.8%
58.9%
267.4
60.8%
306.7
58.9%
41.1%
172.1
39.2%
214.2
100.0%
439.5
100.0%
520.9
41.1%
100.0%
Menu
Mills - Capex per segment
Realized
in R$ millions
Heavy Construction
4Q11
3Q12
4Q12
2011
2012
16.9
11.3
6.3
47.3
50.5

56.6
22.8
9.1
185.0
59.8
Industrial Services
Rental
Corporate
Organic Growth
4.1
0.2
0.4
17.3
4.9
33.4
40.3
53.7
162.8
160.9
3.4
4.9
6.7
18.0
21.5
114.4
79.4
76.3
430.4
297.6
Acquisition
Total Capex
114.4
79.4
76.3
95.5
525.9
297.6
Heavy Construction Segment - financial indicators
in R$ millions
4Q11
3Q12
3Q12
4Q12
(D)/(A)
(D)/(B)
(D)/(C)
2011
(A)
(B)
(C)
(D)
(E)
Net revenue
Rental
32.5
37.0
37.0
39.1
20.2%
5.6%
5.6%
109.2
3.5
8.5
8.5
8.2
132.2%
-3.1%
-3.1%
116.2
Total net revenue
36.1
45.5
45.5
47.3
31.2%
3.9%
3.9%
131.6
EBITDA
19.5
24.1
22.8
20.2
3.6%
-16.2%
-11.6%
57.8
EBITDA margin (%)
54.0%
52.9%
50.2%
42.7%
43.9%
ROIC (%)
17.5%
19.7%
18.3%
14.8%
12.1%
16.9
11.3
11.3
6.3
-62.8%
-44.2%
-44.2%
47.3
222.0
247.7
247.7
254.7
14.7%
2.8%
2.8%
213.3
5.6
6.6
6.6
6.7
20.6%
1.2%
1.2%
20.9
Technical support services, sales and others
Capex
Invested Capital
Depreciation
Jahu - Residential and Commercial Construction Segment - financial indicators
in R$ millions
4Q11
3Q12
3Q12
4Q12
(D)/(A)
(D)/(B)
(D)/(C)
2011
(A)
(B)
(C)
(D)
(E)
Net revenue
Rental
40.3
49.2
49.2
49.9
23.8%
1.6%
1.6%
132.2
12.1
11.4
11.4
16.1
32.8%
41.5%
41.5%
23.6
Total net revenue
52.5
60.5
60.5
66.0
25.9%
9.1%
9.1%
155.8
EBITDA
23.9
33.8
29.4
26.1
9.5%
-22.7%
-11.2%
66.0
EBITDA margin (%)
45.5%
55.9%
48.6%
39.6%
ROIC (%)
16.3%
20.2%
16.9%
12.6%
56.6
22.8
22.8
9.1
-83.8%
310.8
365.8
365.8
388.2
24.9%
5.8
7.4
7.4
8.7
50.0%
Capex
Invested Capital
Depreciation
42.4%
14.3%
-59.9%
-59.9%
190.5
6.1%
6.1%
241.4
18.4%
18.4%
16.5
Industrial Services Segment - financial indicators
in R$ millions
4Q11
3Q12
4Q12
(C)/(A)
(C)/(B)
2011
2012
(E)/(D)
(A)
(B)
(C)
(D)
(E)
158.3
135.8
-14.2%
Net revenue
Maintenance
39.5
30.3
32.8
-16.8%
8.2%
New plants
10.7
18.5
26.5
147.7%
43.2%
56.5
78.0
38.1%
50.2
48.8
59.3
18.2%
21.5%
214.8
213.8
-0.5%
2.3
0.1
8.4
259.6% 7268.7%
20.7
19.4
-6.4%
Total net revenue

EBITDA
EBITDA margin (%)
ROIC (%)
Capex
4.7%
0.2%
14.2%
9.7%
9.1%
-1.2%
-6.2%
13.3%
5.9%
4.6%
4.1
0.2
17.3
4.9
0.4
-89.2%
120.7%
-71.7%
Invested Capital
Depreciation
133.3
123.7
117.6
-11.8%
-4.9%
119.7
123.3
3.0%
2.9
2.9
2.8
-2.9%
-0.7%
10.5
11.4
7.9%
Rental Segment - financial indicators
in R$ millions
4Q11
3Q12
4Q12
(C)/(A)
(C)/(B)
2011
2012
(E)/(D)
(A)
(B)
(C)
(D)
(E)
Net revenue
Rental
Total net revenue
EBITDA
47.2
57.0
64.3
36.4%
12.9%
157.0
222.5
41.7%
7.7
10.4
9.9
28.3%
-4.8%
18.4
31.0
68.5%
54.9
67.4
74.2
35.3%
10.2%
175.4
253.5
44.5%
20.2%
-2.9%
50.8%
30.7
38.0
36.9
93.6
141.2
EBITDA margin (%)
56.0%
56.5%
49.8%
53.4%
55.7%
ROIC (%)
18.6%
16.3%
16.9%
16.5%
18.2%
Capex
Invested Capital
Depreciation
33.4
40.3
53.7
60.9%
33.4%
162.8
160.9
-1.2%
334.8
389.7
417.1
24.6%
7.0%
277.8
383.1
37.9%
8.5
10.6
11.8
39.6%
11.9%
28.2
41.4
46.6%
Menu
2012
(F)/(E)
(F)
146.1
33.8%
28.0
-75.9%
174.1
32.2%
84.3
45.9%
48.5%
17.2%
50.5
6.9%
241.8
13.4%
24.8
18.7%
2012
(F)/(E)
(F)
192.9
45.9%
45.1
91.0%
238.0
52.8%
113.4
71.9%
47.7%
15.7%
59.8
-68.6%
366.7
51.9%
31.0
88.1%
Menu
Mills - Income Statement
in R$ millions
4Q11
3Q12
4Q12
2011
2012
Net revenue from sales and services
193.5
222.2
246.8
677.6
879.3
Cost of products sold and services rendered
(95.6)
(105.2)
(120.2)
(340.4)
(410.9)
97.9
117.0
126.6
337.2
468.3
(44.2)
(48.3)
(65.1)
(175.2)
(218.5)
53.7
68.7
61.6
162.0
249.9
Financial expense
(12.5)
(11.2)
(16.2)
(46.6)
(51.2)
Financial income
2.7
1.1
8.6
14.7
12.1
Financial result
(9.9)
(10.1)
(7.6)
(31.8)
(39.2)
Profit before taxation
43.8
58.6
54.0
130.1
210.7
(14.3)
(20.6)
(12.4)
(38.0)
(59.2)
29.5
38.0
41.6
92.2
151.5
125,657
126,314
126,399
125,657
126,399
0.24
0.30
0.33
0.73
1.20
Gross profit
General and administrative expenses
Operating profit before financial result
Income tax and social contribution expenses

Net income
Number of shares at the end of the period (in thousands)
Net income per thousand shares at the end of the period - R$
Menu
Mills - Balance Sheet
in R$ millions
4Q11
3Q12
4Q12
Assets
Current Assets
Cash and cash equivalents
Marketable securities
Trade receivables
35.2
299.4
44.2
159.6
139.1
168.1
194.8
Inventories
11.2
21.3
26.9
Recoverable taxes
22.1
27.8
35.0
Advances to suppliers
11.5
6.9
6.7
Derivative financial instruments
2.8
0.0
Other current assets
3.0
4.6
6.5
224.9
528.0
473.7
Total Current Assets

Non-Current Assets
Trade receivables
2.6
2.5
2.5
Recoverable taxes
31.6
29.5
30.7
4.9
2.8
10.9
11.5
11.9
50.0
46.3
45.1
87.4
87.4
87.4
872.9
978.6
1,003.3
Deferred taxes
Deposits in court
Investment
Property, plant and equipment
Intangible assets
45.5
51.6
54.5
1,005.8
1,117.6
1,145.3
Total Non-Current Assets
1,055.8
1,163.9
1,190.4
Total Assets
1,280.6
1,691.9
1,664.1
in R$ millions
4Q11
3Q12
4Q12
Liabilities
Current Liabilities
Suppliers
35.9
46.1
47.8
Borrowings and financings
65.3
109.1
41.8
6.1
13.2
13.0
25.0
37.2
27.6
Income tax and social contribution
2.7
4.7
Tax refinancing program (REFIS)
0.4
0.9
0.9
Taxes payable
8.1
9.9
18.6
7.9
11.8
20.1
21.9
18.8
36.2
Debentures
Salaries and payroll charges
Profit sharing payable

Dividends payable
Derivative financial instruments
0.8
Other current liabilities
4.4
6.3
7.8
177.7
258.0
214.5
Total Current Liabilities
Non-Current Liabilities
Borrowings and financings
Debentures
Provision for tax, civil and labor risks
Deferred taxes
71.1
40.4
30.2
268.4
537.3
537.5
16.1
11.0
9.9
2.4
10.5
9.9
9.8
0.6
0.6
0.4
Total Non-Current Liabilities
366.7
599.2
590.2
Total Liabilities
544.5
857.2
804.7
Capital
527.6
536.2
537.6
Earnings reserves
212.0
210.9
321.8
Tax refinancing program (REFIS)

Other non-current liabilities
Stockholders' Equity
Capital reserves
(5.6)
(1.9)
0.2
Valuation adjustments to equity
2.1
0.3
(0.3)
Retained earnings
89.2
736.1
834.7
859.3
1,280.6
1,691.9
1,664.1
Total Stockholders' Equity

Total Liabilities and Stockholders' Equity
Mills - Cash flow

in R$ millions
4Q11
4Q12
2011
Cash flow from operating activities

Net income before taxation
43.8
54.0
130.1
Adjustments
22.8
30.1
76.2
Provision for tax, civil and labor risks
0.2
(1.1)
1.7
Expense on stock options
0.9
2.1
3.1
Profit sharing payable
3.2
8.4
7.9
Gain on sale of fixed and intangible assets
(4.3)
(3.7)
(19.3)
Marketable securities income
(1.5)
0.1
(1.5)
9.9
14.4
38.9
(0.3)
3.9
11.4
0.9
(0.1)
31.7
54.0
119.6
Depreciation and amortization
Interest, monetary and exchange rate variation on loans, contingencies and deposits in court
Allowance for doubtful debts
Others
1.2
Changes in assets and liabilities

Trade receivables
(11.8)
(30.7)
(27.2)
Inventories
0.6
(5.7)
(5.6)
Recoverable taxes
4.2
0.6
(6.0)
Deposits in court
0.1
(0.4)
(0.3)
(3.7)
(1.6)
(5.7)
6.0
(0.1)
1.1
Salaries and payroll charges
(8.3)
(9.6)
3.7
Taxes payable
(5.3)
8.6
(2.9)
Other assets
Suppliers
Other liabilities
Cash from operations
(0.5)
1.4
3.7
(18.5)
(37.5)
(39.2)
57.0
70.5
210.6
(22.2)
(22.5)
(32.2)
Income tax and social contribution paid
(2.7)
(15.3)
(20.3)
Profit sharing paid
(0.0)
Lawsuits settled
Interest paid
Net cash provided by operating activities
(17.5)
-
32.1
32.6
140.6
Marketable securities
1.5
(159.6)
137.7
Acquisitions of investments
0.6
Cash flow from investment activities
Acquisitions of fixed and intangible assets

Revenue from sale of non current and intangible assets
Cash used in investing activities
(102.1)
(74.5)
(92.9)
(430.3)
6.6
14.6
26.1
(93.4)
(219.6)
(359.4)
Cash flow from financing activities

Capital subscription
0.8
1.4
Shares in treasury
(0.0)
Costs of issues of shares
Dividends and interest on capital invested paid
3.6
Amortization of borrowings
(8.0)
New borrowings / debentures
27.8
(69.6)
-
2.5
(0.5)
(24.5)
(86.3)
356.7
Net cash provided by (used in) financing activities
24.2
(68.2)
247.8
Increase (decrease) in cash and cash equivalents
(37.1)
(255.2)
29.0
Cash and cash equivalents at the beginning of the period
72.2
299.4
6.2
Cash and cash equivalents at the end of the period
35.2
44.2
35.2
Menu
2012
210.7
108.6
(4.0)
5.8
20.1
(26.0)
46.9
16.1
(0.1)
167.4
(71.6)
(15.7)
13.5
(0.9)
4.2
(6.1)
2.6
7.9
3.1
(63.1)
315.0
(47.1)
(55.1)
(7.9)
(2.6)
202.3
(159.6)
(279.6)
46.1
(393.1)
10.0
(0.0)
(21.9)
(95.2)
306.9
199.8
9.0
35.2
44.2

Mills 4Q12 Result

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Mills 4Q12 Result

Uploaded by

Copyright:

Available Formats

Mills' 4Q12 Result

Mills - Main financial figures

Mills - Net revenue per type

Technical support services

Total net revenue

Mills - Net revenue per business segment

Mills - EBITDA per division

Costs of job execution

Costs of sale of equipment

Costs of asset write-offs

Jahu - Residential and Commercial Construction

Heavy Construction Segment - financial indicators

Total net revenue

EBITDA margin (%)

Technical support services, sales and others

Jahu - Residential and Commercial Construction Segment - financial indicators

Technical support services, sales and others

Total net revenue

EBITDA margin (%)

Industrial Services Segment - financial indicators

Total net revenue

Rental Segment - financial indicators

EBITDA margin (%)

Net revenue from sales and services

Cost of products sold and services rendered

Profit before taxation

Income tax and social contribution expenses

Derivative financial instruments

Other current assets

Total Current Assets

Total Non-Current Assets

Borrowings and financings

Income tax and social contribution

Tax refinancing program (REFIS)

Profit sharing payable

Other current liabilities

Total Current Liabilities

Total Non-Current Liabilities

Tax refinancing program (REFIS)

Valuation adjustments to equity

Total Stockholders' Equity

Mills - Cash flow

Cash flow from operating activities

Provision for tax, civil and labor risks

Expense on stock options

Profit sharing payable

Gain on sale of fixed and intangible assets

Marketable securities income

Depreciation and amortization

Changes in assets and liabilities

Salaries and payroll charges

Cash from operations

Income tax and social contribution paid

Profit sharing paid

Net cash provided by operating activities

Cash flow from investment activities

Acquisitions of fixed and intangible assets

Cash flow from financing activities

Costs of issues of shares

Dividends and interest on capital invested paid

New borrowings / debentures

Net cash provided by (used in) financing activities

Increase (decrease) in cash and cash equivalents