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Apresentação Usiminas

2T11 - APIMEC

3Q15 ResultsWebcast

Classification of the information: Public

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3Q15 Results – ConsolidatedMain Indicators

Steel Sales – thousand tons

2

Iron Ore Sales – thousand tons

Adjusted EBITDA – R$ million Net (loss) Profit – R$ million

1,275

1,179

2Q15 3Q15

1,206

775

2Q15 3Q15

227

(65)

2Q15 3Q15 (781)(1,042)

2Q15 3Q15

-8%

+33%

-36%

-R$293

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Sales Volume - SteelThousand tons

3

76% 81%88%

67%64%

24%

19%12%

33%

36%

1,401

1,247 1,256 1,275

1,179

3Q14 4Q14 1Q15 2Q15 3Q15

Exports Domestic Market

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R$ Million

Adjusted EBITDA and EBITDA Margin - Steel

4

115

68

19

31

(6)

343

268

337

206

(82)

13%

11%

13%

9%

-4%3Q14 4Q14 1Q15 2Q15 3Q15

Sales of Electric Energy Surplus Adjusted EBITDA Margin

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Sales Volume – MiningThousand tons

5

1,0391,122

1,048 1,071

734

199 3991

135

41

1,2381,161 1,139

1,206

775

3Q14 4Q14 1Q15 2Q15 3Q15

Sales to 3rd parties - Domestic Market Sales to Usiminas

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Adjusted EBITDA and EBITDA Margin - MiningR$ Million

6

922

9

10 4

11

24

43

(6)

(24)

11%

27%

36%

-5%

-27%3Q14 4Q14 1Q15 2Q15 3Q15


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Adjusted EBITDA and EBITDA Margin - ConsolidatedR$ Million

7

12490

28

41

(2)

357 302

380

227

(65)

12%12%

14%

8%

-3%

3Q14 4Q14 1Q15 2Q15 3Q15


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R$ Million

G&A Evolution - Consolidated

8

112134

122108 101

3.8%

5.2%

4.6%

4.0%4.2%

3Q14 4Q14 1Q15 2Q15 3Q15

G&A G&A/Receita Líquida

-6%

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Working Capital – ConsolidatedR$ Billion

9

2.8

2.4

2.7 2.7

2.4

3Q14 4Q14 1Q15 2Q15 3Q15

-10%

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Steel Inventories – Steel Business Unit Thousand tons

Inventoryturnover(days)

883 886933

911

747

3Q14 4Q14 1Q15 2Q15 3Q15

57 64 67 64 57

-18%

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Cash Position and Indebtedness – ConsolidatedR$ Million

11

3,057 2,852 2,621 2,889 2,397

6,835 6,7027,149

7,605 8,111

3,778 3,8504,528 4,716

5,714

3Q14 4Q14 1Q15 2Q15 3Q15

Cash Gross Debt Net Debt

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CAPEX – ConsolidatedR$ Million

12

1,849

976600

964514

365

555

317

94

67

276

112

6452

35

2,490

1,643

9811,110

615

2011 2012 2013 2014 9M15

Others Mining Steel

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Industrial Reconfiguration

TEMPORARILY INTERRUPTION OF THEPRIMARY AREAS OF CUBATÃO PLANT

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• Flat steel consumption inthe domestic market: fall of18% in 9M15 x 9M14, with noexpectation of recovery

• Excess of global production

capacity: 735 million tons

• Continually decrease ofinternational prices

• High tax burden

• Unfair competition with

steel imports

• High energy costs

• FX Rate devaluation,increasing raw materials costs

Low demand andlowcompetitiveness

require structuraladjustments in

scale andproductivity

USIMINAS STRATEGY

Temporarily interruption of the

primary areas of Cubatão plant (Sinterand Coke plants, Blast Furnaces andSteelworks), remaining in operationsits hot and cold rolling lines and port

terminal

Scale adjustment and increase oncompetitiveness

Industrial ReconfigurationOutlook

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www.usiminas.com/ri

ADR

Level I

Declarations relative to business perspectives of the Company, operating and

financial results and projections, and references to the growth of the

Company, constitute mere forecasts and were based on Management’s

expectations in relation to future performance. These expectations are highly

dependent on market behavior, on Brazil’s economic situation, on the

industry and on international markets, and are therefore subject to change.

Cristina Morgan C. DrumondHead of IR

[email protected]: +55 31 3499-8772

Leonardo Karam RosaInvestor Relations Manager


Diogo Dias GonçalvesInvestor Relations Manager


Renata Costa CoutoInvestor Relations Analyst


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