SAO PAULO, March 17, 2014 /PRNewswire/ -- Eternit S.A. (BM&FBOVESPA: ETER3; OTC: ETNTY) announces its results for the 4Q13 and for fiscal year 2013.
Growth in the construction materials industry in the fourth quarter and whole of 2013 fell short of the initial expectations formulated for both periods. Eternit's performance in the 4Q13 exceeded the industry average, with its chrysotile mining business operating at full capacity, its fiber-cement operations at approximately 80% capacity and its concrete roofing tile business at around 60% capacity.
Chrysotile asbestos sales volume in 4Q13 amounted to 74,700 tons, decreasing 9.5% from 4Q12, which is explained by the failure to ship a portion of the volume sold in exports markets in December due to the complexity of the logistics involved. In the same period, fiber-cement sales volume amounted to 217,000 tons, virtually stable from the year-ago period, while concrete roofing tile sales volume contracted 2.2% due to weaker demand in the high-end roofing segment.
Consolidated net sales in the quarter amounted to R$ 253.2 million, virtually stable in relation to 4Q12, supported by the effective sales policy and the appreciation in the U.S. dollar against the Brazilian real, which offset the reduction in sales volume.
EBITDA in 4Q13 amounted to R$ 42.3 million, 21.0% lower than in 4Q12, due to lower sales volume of chrysotile and concrete roofing tiles, coupled with the increase in cost of products sold, which outpaced the growth in consolidated net sales. As a result, net income decreased by 12.8% from 4Q12 to R$ 25.3 million in the period.
Investments continued under the Expansion and Diversification Plan and amounted to R$ 93.6 million in 2013, 34.9% more than in 2012, which was allocated primarily to the construction of the bathroom chinaware plant in the state of Ceara, the installation of a research, development and production unit for construction material inputs in the state of Amazonas and the maintenance and modernization of the Group's industrial facilities.
In 2013, its dividend yield was 9.9%, with shareholder payments in the period amounting to R$ 71.6 million.
Time: 11.00 a.m. Brazilian Local Time – 10.00 a.m. New York – 2.00 p.m. London
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SOURCE Eternit S.A.