Apresentao

2Q16
ResultsUsiminas
2T11 - APIMEC
Webcast
Classification of the information: Public

2Q16 Results Consolidated

Main Indicators

Steel Sales thousand tons

903

-0.4%

899

Iron Ore Sales thousand tons

974

-19%
787

1Q16

2Q16

Adjusted EBITDA R$ million

+31%

1Q16

2Q16

Net (loss) Profit R$ million

68

52

(123)
(151)
1Q16

2Q16

1Q16

+19%
2Q16

Sales Volume - Steel

Thousand tons

1,275
1,179
33%

1,205

27%
36%

67%

2Q15

903

899

16%

13%

84%

87%

1Q16

2Q16

73%
64%

3Q15

4Q15
Domestic Market

Exports

Adjusted EBITDA and EBITDA Margin - Steel

R$ Million
9%
206
31
6
46
3%
72
1

50
3%

(37)

1
(42)

1Q16

2Q16

(6)
(82)
-4%

(52)
(2)
(179)
-8%

2Q15
Assets Sale /
Write-off

3Q15
Sale of Surplus
Electric Energy

4Q15

Adjusted EBITDA

Adjusted EBITDA
Margin

Adjusted EBITDA and EBITDA Margin - Steel

R$ Million Without asset sale and energy

7%
5%
169
1%

91

11
(77)
(125)
-4%
-6%

2Q15

3Q15
Adjusted EBITDA

4Q15

1Q16

2Q16

Adjusted EBITDA Margin

5

Sales Volume Mining

Thousand tons

1,206
135
974

775
41

787

344

670
12

177
16

17

658

614

593

4Q15

1Q16

2Q16

1,071
734

2Q15

3Q15
Sales to Usiminas

Sales to 3rd parties - Domestic Market

Exports
6

Adjusted EBITDA and EBITDA Margin - Mining

R$ Million

21
21%

10

-5%

(6)
(24)

(4)
(12)
-11%

(3)

-27%

(102)

-119%
2Q15

3Q15

Sale of Surplus Electric Energy

4Q15
Adjusted EBITDA

1Q16

2Q16

Adjusted EBITDA Margin

Adjusted EBITDA and EBITDA Margin - Consolidated

R$ Million

8%

227
41
4
52
3%
(2)
(11)
-3%

(1)
(50)

72

68
3%

(41)

1
(44)

1Q16

2Q16

(65)

(250)

2Q15
Assets Sale /
Write-off

3Q15
Sale of Surplus
Electric Energy

-10%
4Q15

Adjusted EBITDA

Adjusted EBITDA
Margin

Adjusted EBITDA and EBITDA Margin - Consolidated

R$ Million Without asset sale and energy

8%
5%

182
1%

111

20
(52)
-2%
(199)

-9%
2Q15

3Q15
Adjusted EBITDA

4Q15

1Q16

Adjusted EBITDA Margin

2Q16
9

G&A Expenses - Consolidated

R$ Million

4.5%
4.0%

4.2%

4.4%

4.2%

-4%

108

2Q15

109

101

3Q15

4Q15
G&A

90

86

1Q16

2Q16

G&A/Net Revenues
10

Working Capital Consolidated

R$ Billion

-3%

2.7
2.4

2Q15

3Q15

2.3

4Q15

2.2

2.1

1Q16

2Q16
11

Steel Inventories Steel Business Unit

Thousand tons

Inventory
turnover
(days)

911

747
639

484

-9%

439

64

57

48

48

44

2Q15

3Q15

4Q15

1Q16

2Q16
12

Cash Position and Indebtedness Consolidated

R$ Million

7,473

7,974

5,577

7,705

7,282

5,681

7,073

5,546

4,716

4,360
2,713

871*
2,889

2Q15

2,397

3Q15
Capital Increase

2,024

4Q15
Cash

Gross Debt

1,736

1,842

1Q16

2Q16
Net Debt

* This amount doesnt include R$181.2 million of CSN's subscription in the Capital Increase, which were held by Court until the end of
the 2Q16. On July 19th, this amount was credited into the Usiminas account, totalizing RS1.050 billion of capital increase (ON and PN).

13

CAPEX Consolidated
R$ Million

1,643
112

555
981
64

1,110
52
94
784
50
112

317

976

964
622

600

120
5 10
106
2012

2013

2014

2015

Others

Mining

Steel

1H16

14

Positive Agenda

Financial
Standstill agreement with the main creditors extended until September 12th;
Approximately 75% of total debt renegotiation concluded;
Capital Increase duly approved for R$1 billion;
CAPEX and Working Capital under control.
Industrial and Commercial
Cubato Reconfiguration and workforce restructuring;
Increases in prices in domestic market;
Increases in sales volume in domestic markets and exports.
Strategic
Goals for 2016;
Long term plans.

15

ADR
Level I

Cristina Morgan Cavalcanti

Head of IR
cristina.morgan@usiminas.com
Phone: +55 31 3499-8772

Leonardo Karam Rosa

Diogo Dias Gonalves

Investor Relations Manager

leonardo.rosa@usiminas.com
Phone: +55 31 3499-8550

Investor Relations Manager

diogo.goncalves@usiminas.com
Phone: +55 31 3499-8710

www.usiminas.com/ri

Declarations relative to business perspectives of the Company, operating and

financial results and projections, and references to the growth of the
Company, constitute mere forecasts and were based on Managements
expectations in relation to future performance. These expectations are highly
dependent on market behavior, on Brazils economic situation, on the
industry and on international markets, and are therefore subject to change.

Renata Costa Couto

Investor Relations Analyst
r.couto@usiminas.com
Phone: +55 31 3499-8619