Apresentao

3Q16
ResultsUsiminas
2T11 - APIMEC
Webcast
Classification of the information: Public

3Q16 Results Consolidated

Main Indicators

Steel Sales thousand tons

959
+7%
899

2Q16

3Q16

Adjusted EBITDA R$ million

Iron Ore Sales thousand tons

787

+0.3%

2Q16

789

3Q16

Net Income (Loss) R$ million

307
+353%
(107)

68
-13%
(123)
2Q16

3Q16

2Q16

3Q16

Sales Volume - Steel

Thousand tons

1,179

1,205

27%
36%

899

16%

13%

84%

87%

85%

1Q16

2Q16

3Q16

73%

64%

3Q15

4Q15
Exports

959

903

Domestic Market

15%

Adjusted EBITDA and EBITDA Margin - Steel

R$ Million

14%
295

46
72

(37)

(6)
(82)
-4%

50
3%

3%

1
(42)

(1)
(35)

2T16

3T16

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

3T15
Assets Sale /
Write-off

4T15
Sale of Surplus
Electric Energy

1T16

Adjusted EBITDA

Adjusted EBITDA
Margin

Adjusted EBITDA and EBITDA Margin - Steel

R$ Million Excluding extraordinary effects

16%

332

5%

11
(77)

1%

91

(125)

-4%
-6%
3Q15

4Q15

Adjusted EBITDA

1Q16

2Q16

3Q16

Adjusted EBITDA Margin

5

Sales Volume Mining

Thousand tons

974

775
41

734

3Q15

344
670
12

786

789

171

181

16

23

658

614

592

608

4Q15

1Q16

2Q16

3Q16

Sales to Usiminas

Sales to 3rd parties - Domestic Market

Exports
6

Adjusted EBITDA and EBITDA Margin - Mining

R$ Million

21%
21

1
-27%

-11%
(4)

16%
13

(3)

(1)

2Q16

3Q16

(12)

(24)

(102)

-119%

3Q15

4Q15
Sale of Surplus Electric Energy

1Q16
Adjusted EBITDA

Adjusted EBITDA Margin

Adjusted EBITDA and EBITDA Margin - Consolidated

R$ Million
14%

307

52

(2)
(11)

(1)
(50)

3%

68

72
(41)

1
(44)

1T16

2T16

(65)
-3%

3%

(35)
(2)

(250)

3T15
Assets Sale /
Write-off

-10%
4T15
Sale of Surplus
Electric Energy

Adjusted EBITDA

3T16
Adjusted EBITDA
Margin

Adjusted EBITDA and EBITDA Margin - Consolidated

R$ Million Excluding extraordinary effects
15%

5%

1%
21

344

111

(52)
-2%

(199)

-8%

3Q15

4Q15

Adjusted EBITDA

1Q16

2Q16

Adjusted EBITDA Margin

3Q16

G&A Expenses - Consolidated

R$ Million

4.5%

4.4%

4.2%

4.2%
3.9%

101

3Q15

109

4Q15
G&A

90

86

87

1Q16

2Q16

3Q16

G&A/Net Revenues
10

Working Capital Consolidated

R$ Billion

2.4

3T15

2.3

4T15

2.4

2.2

2.1

1T16

2T16

3T16
11

Steel Inventories Steel Business Unit

Thousand tons

Inventory
turnover
(days)

747
639

484
439

432

57

48

48

44

41

3T15

4T15

1T16

2T16

3T16
12

Cash Position and Indebtedness Consolidated

R$ Million

7,974

7,705
5,681

5,577

2,397

2,024

3Q15

4Q15
Cash

7,282

7,073

6,870

4,361

4,530

2,713

2,340

2Q16

3Q16

5,546

1,736

1Q16
Gross Debt

Net Debt

The capital increase was concluded and the company received R$871 million in the 2Q16 and R$181 million in the 3Q16, summing
R$1.052 billion of capital increase of ON and PN.

13

Debt Profile (Principal) - Consolidated

R$ million

2,340
186

Debt average tenor: R$ 65 months

US$ 59 months

2,154

558

Cash

9
(0)
9

7
(1)
8

2016

2017

559

403
79

323

(1)

86
16
69

2018

2019

2020

Local Currency

1,070

1,068

1,068

1,067

201

201

201

201

744

790

141

150
870

868

868

866
640

603

2021

2022

2023

2024

2025

2026

Foreign Currency
14

CAPEX Consolidated
R$ Million

1,643
112

555
981
64

1,110
52
94
784
50
112

317
976

964
622

600

2012

2013
Others

2014
Mining

2015

158
20
131

9M16

Steel
15

ADR
Level I

Cristina Morgan Cavalcanti

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

Diogo Dias Gonalves

Leonardo Karam Rosa

Investor Relations Manager

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

Investor Relations Manager

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

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.