SÃO PAULO, May 14, 2015 /PRNewswire/ -- Eternit S.A. (BM&FBOVESPA:ETER3) announces its results for the 1Q15.
The construction materials industry ended the first quarter of 2015 well below the forecast for the year 2015, according to the Brazilian Construction Materials Industry Association (ABRAMAT), due to the 8.8% drop in sales of construction materials in the period. By contrast, Eternit outperformed the industry, ending 1Q15 with consolidated gross revenue growth of 4.1% using the same comparison basis of ABRAMAT.
Chrysotile asbestos sales in 1Q15 totaled 70,000 tons, decreasing 6.5% from 1Q14 due to lower domestic sales. In the same period, fiber-cement sales totaled 214,900 tons, virtually stable compared to 1Q14, while concrete roofing tiles decreased 28.3% due to the drop in demand across the industry, especially in this segment, which seasonally occurs every first quarter, which is the rainy season.
Consolidated net revenue in 1Q15 amounted to R$252.7 million, up 3.7% from 1Q14, mainly due to the increase in prices and the appreciation of the U.S. dollar against the Brazilian real, which partially offset the reduction in sales of concrete roofing tiles and chrysotile asbestos.
Adjusted EBITDA in 1Q15 reached R$49.6 million, 15.8% higher than in 1Q14, mainly due to the 3.5% increase in gross profit and the reduction in operating expenses. Net income decreased 14.2% from 1Q14 to reach R$20.2 million in 1Q15, mainly due to lower net financial income and negative equity pickup.
Investments in 1Q15 totaled R$14.1 million, of which (i) R$4.7 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$9.4 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
Presentation can be followed on the website link www.ccall.com.br/eternit/1q15.htm or by telephone, dial the following telephone number (1-786) 924-6977 - Password:Eternit
IR Team Contact - +55 (11) 31914-3881/3194-3872 email@example.com
SOURCE Eternit S.A.