0% found this document useful (0 votes)

26 views

Presentation of 2Q12 Results

Mills reported strong financial results for the second quarter of 2012. Net revenue increased 28.7% year-over-year to R$211.1 million, with growth across all divisions. EBITDA rose 45.5% to R$84.4 million and net income increased 73.5% to R$39.2 million. Mills invested R$83.5 million in organic growth initiatives during the quarter, with capex focused on expanding the rental, industrial services, residential construction, and heavy construction divisions. New contracts and the contribution of projects related to the World Cup and Olympics represented 20% of heavy construction revenue. Mills is well positioned for continued growth with its diversified business model and investments in expanding

Uploaded by

MillsRI

We take content rights seriously. If you suspect this is your content, claim it here.

Available Formats

Download as PDF, TXT or read online on Scribd

0% found this document useful (0 votes)

26 views

Presentation of 2Q12 Results

Uploaded by

MillsRI

We take content rights seriously. If you suspect this is your content, claim it here.

Available Formats

Download as PDF, TXT or read online on Scribd

You are on page 1/ 20

Presentation of 2Q12 Results

Disclaimer This presentation may include declarations about Mills expectations regarding future events or results. All declarations based upon future expectations, rather than

historical facts, are subject to various risks and uncertainties. Mills cannot guarantee
that such declarations will prove to be correct. These risks and uncertainties include factors related to the following: the Brazilian economy, capital markets, infrastructure, real estate and oil & gas sectors, among others, and governmental rules, that are subject to change without prior notice. To obtain further information on factors that may give rise to results different from those forecast by Mills, please consult the reports filed with the Brazilian Comisso de Valores Mobilirios (CVM).

Agenda

2Q12 Results

Growth plan

2Q12 Highlights

250.0

In R$ millions

50%

200.0

38.4%

37.6% 148.9 154.2 29.4% 36.4% 145.0

193.5 35.4% 164.0

199.1 43.3%
39.5%

211.1 40.0%

45% 40% 35% 30% 25%

175.1 29.0%

150.0

131.3

New Records

100.0

23.0%
20.3% 50.5 55.9

18.8% 76.4 45.4 30.1 13.8% 52.8 22.2 12.7% 58.0 50.8 8.6% 22.6 17.8 14.2% 29.5

86.2

84.4

20% 15% 13.60%

50.0 26.1 2Q10

15.1% 32.7

28.5

39.2

10% 5% 0%

3Q10

4Q10 EBITDA

1Q11

2Q11 Net Income

3Q11

4Q11 EBITDA Margin

1Q12

2Q12 ROIC

Net Revenue

2Q12/2Q11 2Q12/1Q12

+28.7% +6.0%

+45.5% -2.1%

+73.5% +20.1%

+460 bps -330 bps

+90 bps -150 bps

ROIC: Return on Invested Capital

Net revenues reached R$ 211.1 million in 2Q12

Per division
Rental 26% Heavy Construction 20% Technical Support 21%

Per type of service

Sales Others 3% 6%

Industrial Services 26%

Jahu Residential and Commercial 28%

Rental 70%

Heavy Construction Division

45.0 40.0 35.0 30.0 25.0 20.0 15.0 10.0 5.0 2Q10 3Q10 4Q10 1Q11 EBITDA 2Q11 3Q11 4Q11 1Q12 ROIC 2Q12 25.5% 18.8% 13.3 15.6 14.1 12.1% 8.6 4.5% 10% 28.5% 21.6 22.3 26.0% 19.5 17.5% 18.9 16.6% 17.8% 20%
In R$ millions

41.7 51.9%

42.7 52.2% 34.2 31.8 38.8% 48.9%

54.0%

41.9 39.3 48.0% 50.6%

60%

46.2%
33.2 30.6

36.1

50%

40%

21.2

30%

14.4%

Net Revenue

EBITDA Margin

2Q12/2Q11 2Q12/1Q12

+37.3% +6.7%

+50.1% +12.3%

+440 bps +260 bps

+ 570 bps +120 bps

ROIC: Return on Invested Capital

The construction work related to World Cup and Olympic events represented 20% of Mills 2Q12 revenue

2Q12 Revenue
R$ 41.9 million

Others 24%

World Cup and Olympics 20%

Industry 24%
Infrastructure 32%

Source: Mills

Important contracts per stage in the evolution of monthly revenue from the heavy construction projects
(Basis 100= Maximum monthly revenue in the life of construction)

New contracts*

Contracts with growing equipment volumes

Metropolitan Beltway RJ BR-060 Bridge over the Araguaia River BRT Transcarioca Porto Maravilha Subway line 5 So Paulo Beltway Eastern Section Natal Arena Porto Alegre Stadium Subway Line 4 RJ

Contracts with high volume of equipment

Hydroelectric Powerplant Jirau Hydroelectric Powerplant Colder Abreu e Lima Refinery Comperj Refinery Monorail line 2 - SP EMBRAPORT

Contracts in the demobilization process

Man Garrincha Stadium Mineiro Stadium Datacenter of Banco Santander Ponta da Madeira Transnordestina Railway BRT Transoeste

Revenue Index

Fonte Nova Arena Maracan Stadium Recife Stadium

Time

New contracts*
Source: Mills

Hydroelectric Powerplant Belo Monte Hydroelectric Powerplant Teles Pires Manaus Airport Curitiba Stadium New phases of the Comperj refinery

New stretches of subway lines 4 and 5 Monorail Line Gold - SP New stretches of BRT Transcarioca New stretches of the Eastern Section of So Paulo Beltway

Use of new technologies focused on productivity gains

Fonte Nova Arena Salvador, BA

58% lighter 50-65% less labor

Jahu Residential and Commercial Construction Division

In R$ millions

70.0 60.0 46.0% 50.0 40.0 32.8 30.0 20.0 10.0 10.0 2Q10 3Q10 4Q10 1Q11 EBITDA 2Q11 3Q11 4Q11 1Q12 ROIC 2Q12 11.9 11.6 23.6% 21.8 15.2% 12.3 13.0% 13.5 12.5% 16.4 27.9 21.3% 22.3% 29.2 23.9 16.3% 26.3 15.6% 42.8% 35.5% 34.7 27.2 14.8% 42.0% 38.8% 39.4 41.6% 58.9 46.1%

60%

45.5% 52.5

50.1% 52.5

50%

40%

30%

20%

10%

Net Revenue

EBITDA Margin

2Q12/2Q11 2Q12/1Q12

+69.7% +12.3%

+101.8% +3.3%

+730 bps -400 bps

+180 bps -80 bps

ROIC: Return on Invested Capital

The listed real estate companies contributed 12% of 2Q12 equipment rental revenues

1Q12 Equipment rental revenues R$ 45.3 million

2Q12 Equipment rental revenues R$ 48.5 million

Others 8% Industrial 9%

Residential listed companies 19%

Others 6% Industrial 3%

Residential listed companies 12%

Residential 51%

Residential 57%

Commercial 32% Residential others 32%

Commercial 34%

Residential others 45%

New contracts
7th Avenue Building Curitiba, PR Tishman Speyer Corporate Building Rio de Janeiro, RJ Convention Center Joo Pessoa, PB

New contracts

BarraShoppingSul Porto Alegre, RS Rio Poty Shopping Teresina, PI

Metropolitano Shopping Rio de Janeiro, RJ

Industrial Services Division

70.0 60.0 50.0 40.0 30.0 20.0 10.0 2Q10 3Q10 4Q10 1Q11 EBITDA 2Q11 3Q11 4Q11 1Q12 ROIC 2Q12
In R$ millions

20%

17.3%
14.9% 46.5 14.9% 52.5 13.4% 56.4 14.8% 50.2 57.5 14.2% 14.2% 50.2 56.9 50.9 12.1% 8.5% 7.5% 7.2% 3.2% 4.7%
5% 10%

54.8

15%

10.3%

12.2% 9.6%

3.9%

6.9

7.0

5.8

6.1

8.1 4.1

-1.2% 2.3

6.2

4.7
-5%

Net Revenue

EBITDA Margin

2Q12/2Q11 2Q12/1Q12

- 4.7% +7.7%

- 42.5% - 24.2%

- 570 bps - 360 bps

- 1030 bps - 360 bps

ROIC: Return on Invested Capital

Maintenance contracts represented 69% of net revenue

2Q12 Revenue
R$ 54.8 million

Per type Others 23%

Per industry

New plants 31%

Oil & Gas 35% Steel and Mining 2% Pulp & Paper 7% Maintenance 69%

Petrochemical 33%

Rental Division
In R$ millions

60.0

54.9
50.0

56.5 61.8%

55.4

70% 60% 50%

55.8%

56.6%
47.6%

56.0%

54.1% 41.2

56.0%

56.6%

45.6 47.6%
34.9 30.7 31.4

40.0

33.7
30.0

30.8 21.3 25.8 22.3 17.3% 14.6 18.9 14.7 18.7% 17.1% 12.9% 17.3% 21.7

40%
30%

20.0

19.6% 11.9

18.6%

20.3% 16.3%
20% 10% 0%

10.0

2Q10 3Q10 4Q10 1Q11 EBITDA 2Q11 3Q11 4Q11 1Q12 ROIC 2Q12

Net Revenue

EBITDA Margin

2Q12/2Q11 2Q12/1Q12

+34.6% -1.8%

+40.7%

+250 bps

-80 bps

-10.1%

-520 bps

-400 bps

ROIC: Return on Invested Capital

The new branches represented 63% of 2Q12 revenue

2Q12 revenue
R$ 55.4 million

Established Branches 37%

New Branches 63%

Branches opened prior to 2010 Branches opened after January 2010

Agenda

2Q12 Results

Growth plan

We invested R$ 83.5 million in organic growth in 2Q12

Capex
in R$ million

300
256

Realized / 2012 Budget (%)

250

Rental

49%

200
136

Industrial Services

61%

150

142 10

100
58

84 5 41 1 12 24 2Q12

7 44

Jahu - Residential and Commercial

63%

5 26

4 28 52 33 1H12 Revised 2012 Budget

3 15 9
1Q12

Heavy Construction

64%