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SOURCE Eternit S.A.
SAO PAULO, March 15, 2013 /PRNewswire/ -- Eternit S.A. today announces its results for the 4th quarter of 2012.
Demand for construction materials was low in the fourth quarter, particularly in the month of December, according to figures from ABRAMAT, while the Company's performance showed an improvement compared to the construction material sector and to the 4Q11.
Chrysotile mineral sales volume was up by 4.6% in 4Q12, compared to 4Q11, due to a good performance in the foreign market. In the same period, fiber cement sales volume amounted to 217.8 thousand tons, slightly higher over the period, while concrete tile sales were down by 17.4%, as a result of the slowdown in this market.
Consolidated net revenue, despite the drop in the sales volume of concrete tiles, showed an increase of 16.0%, reaching a record level of R$ 255.3 million in 4Q12, as a consequence of price repositioning throughout the product portfolio, as well as the appreciation of the US Dollar against the Brazilian Real, which had a positive impact on exports.
With the growth in consolidated net revenue proportionally higher than the increase in the cost of goods sold, EBITDA amounted to R$ 53.6 million, up 34.6% on 4Q11, despite the 22.0% increase in operational expenses, principally due to the higher expenditure on royalties for the use of soil - the consequence of increased sales by subsidiary SAMA, as well as higher expenditure on defending the chrysotile mineral industry.
Net income in 4Q12 amounted to R$ 29.0 million, down 9.6% compared to 4Q11, principally due to the lower financial result, and the first expenses associated with the implementation of the bathroom chinaware production plant.
Investment as part of Eternit's Structured Plan for Expansion and Diversification came to a total of R$ 25.3 million in 4Q12, 106.3% more than in 4Q11 due to the start of construction of the bathroom chinaware plant in the state of Ceara.
Conference call with Webcast (in Portuguese - with simultaneous translation into English) Presentation: Elio A. Martins - President and Investor Relations Director Date: March 18, 2013. Time: 11:00 a.m. Brazilian Local Time – 10:00 a.m.New York – 2:00 p.m.London