SAO PAULO, Aug. 8, 2013 /PRNewswire/ -- Eternit S.A. (BM&FBOVESPA:ETER3; OTC:ETNTY) today announces its results for the 2Q13.
Demand for construction materials showed a slightly increase during the 2Q13, according to the Brazilian Construction Materials Industry Association. However, Eternit outperformed the construction materials sector, despite the fact that the second quarter of the year is seasonally the period of lowest demand for the Company.
Chrysotile mineral sales volumes saw an increase of 6.7% in 2Q13, compared to 2Q12, due to increased demand for roofing materials in the domestic market and the recovery in the inventory levels of its clients. Over the same period, fiber-cement sales volume were up 8.6%, while concrete tile sales showed an increase of 6.8%, as a result of as a result of Tegula's new strategy of also making its products available through construction materials stores.
Consolidated net revenue in 2Q13, amounted to R$ 241.5 million, up 14.4% compared to 2Q12, due to a satisfactory sales policy, and consequently higher sales volumes. Despite the fact that the Cost of Goods Sold increased more than net revenue, EBITDA came to a total of R$ 47.6 million, an increase of 21.3% compared to 2Q12, as consequence of better control over operational expenses.
Net earnings amounted to R$ 27.1 million in 2Q13, up 0.5% compared to 2Q12, as a result of the negative net financial result and expenses associated with setting up the bathroom chinaware plant in the state of Ceara.
Total investment amounted to R$ 30.5 million, 94.5% more than that in 2Q12, which were allocated, in the main, to construction of the bathroom chinaware plant, the setting up of the unit for research, development and production of construction material inputs in the state of Amazonas and the updating of the Group's industrial park.
In 2013, Eternit's dividend yield amounted to 7.4%, with R$ 53.7 million being distributed to shareholders and a payout of 74%.
Conference call with Webcast (in Portuguese-simultaneous translation to English)
Presentation: Elio Martins - CEO and IR Director
Date: August 09, 2013
Time: 11.00 A.M. Brazilian Local Time – 10.00 A.M. New York – 3.00 P.M. London
To follow the presentation by telephone, please dial the following telephone numbers: +55-11-4688-6361 for Brazil and (1-786) 924-6977 for other countries - Password:Eternit
SOURCE Eternit S.A.