presentations 1 q08
Post on 05-Dec-2014
246 Views
Preview:
DESCRIPTION
TRANSCRIPT
Novo Mercado – On April 2, 2008 shareholders of Magnesita S.A. had their sharessubstituted for by those of Magnesita Refratários S.A., grouped and traded under the Novo Mercado rules
Incorporation – Magnesita S.A. and Partimag are merged into the Parent Company Magnesita Refratários S.A.
Change in Control – GP and Gávea acquire control of Magnesita S.A., conduct two 2 IPOs and buy shares directly on the market.
End of Family-run Management – Since its creation until this date, Magnesita was managed by the Pentagna Guimaraes Family.
Bovespa – In 1969, Magnesita S.A. is listed on the São Paulo Stock Market
Foundation – After discovery of a large quantity of magnesite in Brumado/BA mines, Magnesita Ltda. is founded. Industrial activities initiated in 1944.
1969
Sep/07
Dec-07 ajan/08
Feb/08
Apr/08
1939
Previous Shareholding Structure
RISAREFRATÁRIOS
RISA MATERIALSCERÂMICOS
CERÂMICA SÃO
CAETANOFRUTMAG CEPALI Refratec
RASA(Argentina)
REFRATECPARTICIPAÇÕES
MAGNESITASERVICE SÀO JOSÉ MSA INFOR
PARAÍSODERBYILIAMA
(Portugal)BERNHANDT
(Portugal)
MSA SERVICE
MSAAGROPECUÁRIA
BERNHANDT(Spain) IKERA
REMSA(Argentina)
ILIAMA(Spain)
MAGNESITAS.A.
MINORITY SHAREHOLDERS
Partimag
GP Gávea
RPAR Holding S.A.
100% 95% 100% 100% 100% 100% 100% 100% 100% 100%
34%66% 100% 100% 100% 100% 98% 100%
100% 100% 99.9755% 97.9769%
1.9653%0.0122%
Total = 24 companies
RISAREFRATÁRIOS
RISAREFRATÁRIOS
RISA MATERIALSCERÂMICOS
RISA MATERIALSCERÂMICOS
CERÂMICA SÃO
CAETANO
CERÂMICA SÃO
CAETANOFRUTMAGFRUTMAG CEPALICEPALI RefratecRefratec RASA
(Argentina)
RASA(Argentina)
REFRATECPARTICIPAÇÕES
REFRATECPARTICIPAÇÕES
MAGNESITASERVICE
MAGNESITASERVICE SÀO JOSÉSÀO JOSÉ MSA INFORMSA INFOR
PARAÍSOPARAÍSODERBYDERBYILIAMA(Portugal)
ILIAMA(Portugal)BERNHANDT
(Portugal)BERNHANDT
(Portugal)
MSA SERVICE
MSA SERVICE
MSAAGROPECUÁRIA
MSAAGROPECUÁRIA
BERNHANDT(Spain)
BERNHANDT(Spain) IKERAIKERA REMSA
(Argentina)
REMSA(Argentina)
ILIAMA(Spain)
ILIAMA(Spain)
MAGNESITAS.A.
MAGNESITAS.A. MINORITÁRIOSMINORITÁRIOS
PartimagPartimag
GPGP GáveaGávea
RPAR Holding S.A.
RPAR Holding S.A.
100% 95% 100% 100% 100% 100% 100% 100% 100% 100%
34%66% 100% 100% 100% 100% 98% 100%
100% 100% 99,9755% 97,9769%
1,9653%0,0122%
Initial Changes
MSA Service
Other Shareholdersand
Treasury
100% 100% 100% 100% 100%
100% 98%
47.0% 12.5% 40.5%
GáveaGP
Magnesita Refratários S.A.
Cerâmica São Caetano
Mag-SéRasa
(Argentina)Iliama
(Espanha)MSA Infor
Iliama(Portugal)
Current Shareholding Structure
Total = 8 companies
Extraction of Minerals
Production of Refractories
Service Supplier
Products Capacity (*)
� 320
� 60
� 48
� 590
Applications
� Refractory Masses and Bricks
� Fertilizers, steelmaking, abrasives, magnesium salts, animal feed
� Plastics, cosmetics, pharmaceuticals, paper/pulp, chemical industry, rubber
� Steel industry, cement, non-ferrous metals, iron alloys and others.
Produos e Aplicações
(*) ktpy
� Sinter
� Caustic Magnesite(magn esia oxide)
� Talc
� Basics
� Aluminum products
� Monolithics and cast products
� Valves
� Refractory solutions that contribute to potentializ e and optimize the client’s output capacity.
� Supplementary services to the steel making process – electro-mechanical maintenance of equipment, assembly and disassembly of refractories , among others.
We create high value-added solutions to costumers
7
Market leader in Brazil andSouth America
Vertically integratedbusiness model
Long-lasting and high qualitymineral reserves
Solutions-based business model
11
33
44
55Attractive domestic
industrial dynamic with highpotential abroad
66
Leading-edge technology
77
Consolidated andexperienced management
88
Stable and long-term commercialrelationships based on top-tier
customers
22
Accomplishments
� Incorporation of subsidiaries
� Selloff of non core assets
� Acquisition of Insider
� Partnership with Krosaki
� Renegotiation of the debt
Results
� Administrative efficiency
� Tax benefits
� Cost reductions
� Increase of margins
� Moody´s Rating Aa2.br
9
395
97 90 10431 21 2967
30 34
175
2007 1Q07 4Q07 1Q08
Refractories Sínter Others Minerals
570
195167
Refractories
1Q08x1Q07 = + 7.2%
1Q08x4T07 = + 15.5%
Sinter
1Q08x1Q07 = - 6.4%
1Q08x4T07 = + 38.1%
Total
1Q08x1Q07 = - 14.4%
1Q08x4T07 = + 18.4%
141
Note: In 2007, revenues from sinter and other mineralsare added.
1Q07 2Q07 3Q07 4Q07 1Q08
ME
MI
302 306323
Heated up demand in the steel and cement sectors in 1Q08 raised sales by R$ 17.0 million
Net Revenues – R$ million
1Q08
Net Revenues per Product
312
278
11
348.6
1Q08 vs. 1Q07 = +15.3%
EBITIDA – R$ million EBITIDA Margin – %
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
+45,3%
217.7
Raw Materials31%
Labor28%
Fuels13%
Depreciation6%
Industrial Maintenance
4%
Freighting4%
Energy5%
Others9%
COGS - 1Q08 Operating Expenses
1Q07 2Q07 3Q07 4Q07 1Q08
Administratives
Commercial
Magnesite benefits from its vertical structure, with 80% own resources, of which 100% in magnesite sinter and dolomite.
31 31 31 30 25
35 33 33
63
31
- 50,8%
Gross Debt - R$ million Net debt / EBITDA
157.5
894.4
Obs.: 03.31.08 – annualized EBITDA was considered
413
680
249 220
375
-7603/31/07 12/31/07 03/31/08
Net Debt Ebitda
Base 100 - 12 months Price and Volume - Novo Mercado
Mission
To provide our clients with integrated solutions in services, refractories and raw materials, which maximize their results, developing long term relationships and business models which are replicable in other geographies.VisionTo be the largest and most profitable company, providing solutions in services refractories and raw materials in the world until 2012.Values
Organizational Identity
� Clients – The essence of our company is to provide high value added solutions to our clients.
� People – Excellent people teaming-up and thinking as shareholders and owners constitute our most valuable “competitive advantage”. Our executives day to day agenda includes the formation of our people.
� Meritocracy – We reward and recognize success and offer opened opportunities for our people to seek develop in the extent of each one´s talent, speed and results.
� Management model – Hard working, creativity, discipline and optimism are inherent to our management model and are crucial to reach and excel challenging objectives and high performance standards.
� Profit – Maximizing our results is the sole route to perpetuate our existence and future growth.
� Ethics – We will never give up our ethics and integrity in pursuing results. We will not tolerate any faults in this regard.
� Agility and transparence – we are simple and fast in executing and communicate on a transparent and objective manner.
� Environment and Community – we operate respecting the environment and we help developing the communities around us.
top related