2. The consolidated financial statements presented here are consistent with the criteria of international accounting standards - IFRS issued by the
International Accounting Standards Board – IASB, based on audited financial information. Non-financial information contained herein, as well
as other operational information, were not audited by independent auditors and may include forward-looking statements and reflects the
current views and perspectives of the management on the evolution of macro-economic environment, conditions of the mining and
refractories industries, company performance and financial results. Any statements, projections, expectations, estimates and plans contained
in this document that do not describe historical facts, and the factors or trends affecting financial condition, liquidity or results of operations,
are forward-looking statements and involve several risks and uncertainties.
This presentation should not be construed as legal, tax, investment or other advice. This presentation does not constitute an offer, or invitation,
or solicitation of an offer, to subscribe for or purchase any securities, and neither any part of this presentation nor any information or
statement contained herein shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. Under no
circumstances, neither the Company nor its subsidiaries, directors, officers, agents or employees be liable to third parties (including investors)
for any investment decision based on information and statements in this presentation, or for any damages resulting therefrom, corresponding
or specific.
The information presented or contained in this presentation is current as of the date hereof and is subject to change without notice. Magnesita
has no obligation to update it or revise it in light of new information and / or in face of future events, safeguard the current regulations which
we are submitted to. This presentation and its contents are proprietary information of the Company and may not be reproduced or circulated,
partially or completely, without the prior written consent of the Company.
Disclosure
2
3. 3
Crude Steel Production* (million tons) - Established Markets
Volume (‘000 tons)
Sales to Steel Segment
Revenues (R$ million)
Refractory Solutions Sales - Steel
Sales by region (in R$)
-1%
-6%
3Q15
208
2Q15
209
3Q14
220
-5%
LTM
3Q15
843
LTM
3Q14
885-6%
9M15
627
9M14
666
+12%
+28%
3Q15
669
2Q15
598
3Q14
524
LTM
3Q15
2.382
LTM
3Q14
2.124
+12%
+15%
1.837
1.594
9M159M14
9M159M14
30%
21%
9%
37%
3%3%
39%
26%
23%
9%
North America
South America
Europe
Asia + Oceania
CIS + MEA
4. 4
Sales to Industrial Segment
Refractory Solutions Sales – Industrial Segment
Volume (‘000 tons) Revenues (R$ million)
35
30
42
3Q152Q153Q14
+20%
-15%
108100
111
+9%
-3%
3Q152Q153Q14
-5%
9M15
111
9M14
117
+8%
9M15
350
9M14
325
-9%
LTM
3Q15
145
LTM
3Q14
159
+1%
LTM
3Q15
448
LTM
3Q14
445
9M14
11%4%
13%
20%
52%
9M15
24%
13%
6%
10% 47%
CIS + MEA
Asia + Oceania
Europe
North America
South America
10. 10
CAPEX and Working Capital
Working Capital (R$ million; %)
CAPEX (R$ million)
+36%
+78%
3Q15
70
2Q15
51
3Q14
39
+50%
9M15
155
9M14
103
+22%
LTM 3Q15
229
LTM 3Q14
187
3Q15
1.148
32,4%
2Q15
975
30,8%
1Q15
961
29,8%
4Q14
878
30,6%
3Q14
1.002
35,1%
33,9%
28,7%
26,1%
28,4% 27,3%
Working Capital
Working Capital as % of sales ¹
Adjusted working capital as % of sales ²
¹Quarterly sales multiplied by 4
²WK adjusted by same FX as sales
11. *EBITDA excluding other revenues/expenses
Total Excluding Perpetual Bond
*EBITDA excluding other revenues/expenses
Capital Structure
Leverage ratio Leverage ratio ex-perpetual
2.135
1.7091.7061.5961.537
468432425387404
3Q15
3.7x
4.6x
2Q15
3.7x
4.0x
1Q15
3.5x
4.0x
4Q14
3.9x
4.1x
3Q14
3.7x
3.8x
Net Debt / EBITDA Adj by fx
Net Debt / EBITDA¹
EBITDA
Net Debt
1.120917887931911
468431425387404
3Q15
2.1x
2.4x
2Q15
2.1x
2.1x
1Q15
2.0x
2.1x
4Q14
2.4x
2.4x
3Q14
2.3x
2.3x
Net Debt / EBITDA Adj by fx
Net Debt / EBITDA¹
EBITDA
Net Debt
8,2
Net Debt per currency (as of Sep 2015)
EUR
32%
49%USD
BRL
20%
11
12. Octavio Pereira Lopes
CEO
Eduardo Gotilla
CFO e IRO
Daniel Domiciano
IR Manager
Phone: +55 11 3152-3237/3241/3202
ri@magnesita.com
www.magnesita.com/ri
12
Investor Relations