SAO PAULO, Aug. 6, 2015 /PRNewswire/ -- Eternit S.A. (BM&FBOVESPA:ETER3) announces its results for the 2Q15.
Construction materials registered weak sales in the second quarter of 2015, ending the period below the forecast made by the Brazilian Construction Materials Industry Association (ABRAMAT) for 2015. Though 2Q15 is a period of seasonally lower demand for the Company, Eternit outperformed the industry, registering consolidated gross revenue growth of 2.9% according to the comparison basis used by ABRAMAT.
Chrysotile asbestos sales in 2Q15 totaled 66,800 tons, decreasing 5.3% from 2Q14 due to the slowdown in the construction materials industry. In the same period, fiber-cement sales reached 186,700 tons, down 1.8% from 2Q14, whereas concrete roofing tiles sales decreased 27.0%, mainly due to consumer behavior, which represented a decline in the pace of renovations and acquisitions of new housing units.
Consolidated net revenue in 2Q15 amounted to R$236.4 million, up 7.2% from 2Q14, due to price repositioning and the appreciation of the U.S. dollar against the Brazilian real, which offset the drop in sales volume.
Adjusted EBITDA in 2Q15 reached R$43.3 million, 15.5% higher than in 2Q14, due to the 4.4% increase in gross profit and the reduction in operating expenses. Net income decreased 7.4% in the same comparison period to reach R$16.8 million in 2Q15, mainly due to lower net financial income and equity pickup.
Investments in 2Q15 totaled R$12.8 million, of which (i) R$1.8 million went to the establishment of a unit in the state of Amazonas for the research, development and production of construction material inputs and (ii) R$11.0 million went to the maintenance and modernization of the Group's industrial facilities.
Time: 11.00 a.m. Brazilian Local Time – 10.00 a.m. New York – 03.00 p.m. London
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SOURCE Eternit S.A.