Microsoft power point magnesita-apres_tele_eng_1t10

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Microsoft power point magnesita-apres_tele_eng_1t10

  1. 1. 1Q10 Results Conference Call
  2. 2. Industry environment − Steel Production Quarterly Crude Steel Production EvolutionCrude Steel Production million tonnes 2Q09 3Q09 4Q09 1Q10 L12M Asia 8.9% 10.9% -0.9% 5.8% 26.6% EU-27 2.2% 11.4% 15.0% 4.5% 36.9% 35.0 40.3 42.1 12.5 16.4 17.6 19.4 5.0 5.6 7.9 8.1 8.0 265.5 284.6 319.2 327.5 342.0 2 EU-27 2.2% 11.4% 15.0% 4.5% 36.9% US 4.1% 31.2% 7.3% 10.2% 61.5% Brazil 11.3% 41.8% 2.1% (1.2%) 60.5% World 7.2% 12.2% 2.6% 4.4% 28.8% World Stainless Steel Production million tonnes • The world crude steel production increased 4.4% in the 1Q10, accumulating an increase of L12M = Last 12 months 172.7 188.1 208.5 206.7 218.6 30.8 31.4 35.0 40.3 12.0 12.55.0 1Q09 2Q09 3Q09 4Q09 1Q10 Asia EU-27 USA Brazil RoW Source: World Steel Association and International Stainless Steel 1Q10, accumulating an increase of 28.8% in the last 12 months; • Highlight for the recovery of the U.S. market with a high of 10.2% in 1Q10. 2
  3. 3. Industry environment − Cement Production Cement Production – Brazil million tonnes 11.709 12.328 13.697 13.746 Cement Production – World million tonnes 2,923 2,971 3,021 1,563 1,571 1,551 Cement production remains strong in Brazil;Cement production remains strong in Brazil; 4.248 1Q09 2Q09 3Q09 4Q09 Jan-10 1,360 1,400 1,470 2007 2008 2009E China RoW Source: SNIC – Sindicato Nacional da Indústria do Cimento Cement production remains strong in Brazil; Increase in capacity is expected; China accounted for about 50% of the world production. Cement production remains strong in Brazil; Increase in capacity is expected; China accounted for about 50% of the world production. 3
  4. 4. Cost per Performance Excellent opportunity for growth % of the net revenues from steel industry 2009 1Q10 Contracts by volumeCPP Contracts Successful actions 12 new contracts: 4 – Brazil 6 – US 1 – Chile 1 – UK 2009 2 new contracts: 1 – Ecuador 1 – US 1Q10 Successful actions to reply the CPP model worldwide 4
  5. 5. Sales Volume and Revenues Revenue by Product – 1Q10 (%) Refractories Sales Volume (thousand tonnes) Basic Magnesia 31.8% Non Basic 23.6% Others 11.3% 127.9 133.2 150.1 161.1 178.1 52.9 57.8 69.8 77.6 80.1180.8 191.0 219.9 238.7 258.2 Revenue by Operating Location x Costumer Location – 1Q10 (%) Refractory Revenue by Industry - 1Q10 (%) Basic Dolomitic 33.4% 23.6% 53.5 52.1 127.9 133.2 150.1 161.1 178.1 1Q09 2Q09 3Q09 4Q09 1Q10 OverseasMarket Domestic Market 5 Steel 84.0% Cement and Lime 11.7% Others 4.3% 17.9 24.2 4.4 16.0 19.8 10.0 2.1 South America North America Europa Asia Others Operating Location Customer Location
  6. 6. Financial Performance – 1Q10 Gross ProfitNet Revenue (R$ million) EBITDA Adjusted EBITDA 6
  7. 7. 691,7 Debt Funding: US$ 400.0 million (Reg. 144 A/S) Rate: 7.875% p.a. Funding: US$ 400.0 million (Reg. 144 A/S) Rate: 7.875% p.a. Bonds Issue Amortization Schedule * 41,4 3,6 15,1 322,1 315,2 318,1 2010 2011 2012 2013 2014 2015 2020 Bradesco: R$ 133.5 millionBradesco: R$ 133.5 million Renegotiation Maturity date: 2020 (callable in 2015) Use: US$ 300.0 million to pay the debt with JP Morgan (senior export notes) in its entirety Maturity date: 2020 (callable in 2015) Use: US$ 300.0 million to pay the debt with JP Morgan (senior export notes) in its entirety * Pro-forma amortizations calculated after the debt renegotiation with Itau in April 2010 and not including the debts from advances for foreign exchange contracts Net Debt (R$ million) Bradesco: R$ 133.5 million Itaú-Unibanco: R$ 800.0 million Costs: from CDI + 4% to CDI + 2.75% Amortization: 2013, 2014 and 2015 + grace period extension for two more years Bradesco: R$ 133.5 million Itaú-Unibanco: R$ 800.0 million Costs: from CDI + 4% to CDI + 2.75% Amortization: 2013, 2014 and 2015 + grace period extension for two more years Average debt cost: 10% p.a. 7
  8. 8. Joint Venture with Krosaki - Profile • One of the world leaders in refractory production for flow control (continuous casting). A Japanese company founded in 1918 whose core business is producing and marketing refractory products • Gross Revenue = US$ 548.9 million • EBITDA = US$ 41.7 million • Net Income = US$ 15 million • Market Cap. = US$ 438 million (05/11/2010) Listed on the Tokyo Stock Exchange, and its shareholders’ equity amounts to US$ 325.6 million KEY FIGURES IN 2009: • No relevant investment will be required. The Company will be able to expand the CPP model in North America. The joint venture will make use of a Magnesita unit in Pennsylvania (USA) 8
  9. 9. Capital Markets Share Performance (From 3/31/2009 to 3/31/2010) 200,000 250,000 250.00 300.00 350.00 AverageTradingVolume(R$thousand) SharePriceEvolution(basis100) - 50,000 100,000 150,000 0.00 50.00 100.00 150.00 200.00 AverageTradingVolume(R$thousand) SharePriceEvolution(basis100) 1.4% depreciation in 1Q10. IBOVESPA Index: +2.6%; in the L12M increase of 188.5% x 72.0% of Ibovespa Average daily volume of R$ 10.6 million; Coverage of major banks: Itaú, Credit Suisse, BTG Pactual, Merrill Lynch, Santander and Barclays. 1.4% depreciation in 1Q10. IBOVESPA Index: +2.6%; in the L12M increase of 188.5% x 72.0% of Ibovespa Average daily volume of R$ 10.6 million; Coverage of major banks: Itaú, Credit Suisse, BTG Pactual, Merrill Lynch, Santander and Barclays. 9 Volume MAGG3 Ibovespa
  10. 10. Flávio Rezende Barbosa Chief Financial and Investor Relations Officer Adriana Fernandes Lana Investor Relations Manager Phone: (+55 31) 3368-1069 Lucas Lima Ferreira Investor Relations Analyst Phone: (+55 31) 3368-1068Phone: (+55 31) 3368-1068 ri@magnesita.com.br www.magnesita.com.br 10

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