Historical Data

Mills' Results
Menu
Main Indicators
Revenue
COGS G&A
EBITDA
Financial Indicators per Business Segment
Income Statement
Balance Sheet
Cash flow
Capex per Business Segment
Mills - Main financial figures

1Q09
2Q09
3Q09
4Q09
1Q10
2Q10
3Q10
4Q10
in R$ millions
Net revenue
EBITDA
EBITDA margin (%)
Net earnings
ROIC (%)
Capex
82.4
104.6
102.7
114.6
115.5
131.3
148.9
154.2
31.6
42.8
37.7
45.6
42.8
50.5
55.9
45.4
38.4%
40.9%
36.7%
39.8%
37.0%
38.4%
37.6%
29.4%
12.0
20.1
16.6
19.8
18.7
26.1
28.5
30.1
21.6%
29.4%
23.3%
26.0%
23.1%
23.0%
20.3%
18.8%
14.2
30.5
22.7
58.7
90.0
121.0
78.8
9.0
Menu
1Q11
145.0
2Q11
164.0
3Q11
175.1
4Q11
193.5
1Q12
199.1
2Q12
211.1
3Q12
222.2
4Q12
2009
2010
2011
246.8
404.2
549.9
677.6
52.8
58.0
50.8
76.4
86.2
84.4
96.1
91.7
157.6
194.5
238.1
36.4%
35.4%
29.0%
39.5%
43.3%
40.0%
43.2%
37.1%
39.0%
35.4%
35.1%
22.2
22.6
17.8
29.5
32.7
39.2
38.0
41.6
68.4
103.3
92.2
13.8%
12.7%
8.6%
14.2%
15.1%
13.6%
15.8%
14.5%
25.0%
21.0%
12.3%
184.6
105.2
114.4
58.4
83.5
79.4
76.3
76.3
348.5
525.9
121.6
2012
879.3
358.4
40.8%
151.5
14.7%
297.6
Mills - Net revenue per type
1Q09
2Q09
3Q09
4Q09
1Q10
2Q10
3Q10
4Q10
in R$ millions
Rental
63.8
68.5
70.5
80.0
74.6
84.6
91.8
91.1
Technical support services
16.0
32.2
27.1
28.6
29.6
35.6
42.6
43.6
Sales
0.6
2.5
4.0
5.5
9.6
6.0
8.7
12.7
Others
1.9
1.4
1.1
0.4
1.7
5.0
5.9
6.8
82.4
104.6
102.7
114.6
115.5
131.3
148.9
154.2
Total net revenue
Mills - Net revenue per segment

in R$ millions
Heavy Construction
1Q09
32.8
14.1
Jahu - Residential and Commercial Construction
Industrial Services
23.4
Rental
12.0
Total net revenue
82.4
2Q09
3Q09
4Q09
39.9%
37.1
35.4%
36.9
36.0%
39.4
34.4%
17.2%
14.7
14.0%
15.1
14.7%
18.3
15.9%
28.4%
40.8
39.0%
36.1
35.1%
41.2
36.0%
14.6%
12.1
11.6%
14.6
14.2%
15.7
13.7%
100.0%
104.6
100.0%
102.7
100.0%
114.6
100.0%
Menu
1Q11
2Q11
3Q11
4Q11
1Q12
2Q12
3Q12
4Q12
2009
2010
2011
96.8
105.4
119.3
132.4
137.9
147.9
155.8
166.7
282.9
342.1
453.9
37.6
43.3
41.3
37.6
42.3
44.5
41.4
45.9
103.9
151.4
159.8
5.6
7.3
8.5
19.2
13.0
13.5
19.0
28.6
12.6
37.0
40.6
5.0
8.0
6.0
4.3
6.0
5.2
6.0
5.6
4.8
19.4
23.3
145.0
164.0
175.1
193.5
199.1
211.1
222.2
246.8
404.2
549.9
677.6
1Q10
2Q10
3Q10
4Q10
1Q11
2Q11
35.7
30.9%
41.7
31.8%
42.7
28.7%
34.2
22.2%
31.8
22.0%
30.6
18.6%
22.7
19.6%
21.8
16.6%
27.9
18.7%
32.8
21.3%
29.2
20.1%
34.7
21.2%
40.0
34.6%
46.5
35.4%
52.5
35.2%
56.4
36.6%
50.2
34.6%
57.5
35.1%
17.2
14.9%
21.3
16.2%
25.8
17.4%
30.8
20.0%
33.7
23.3%
41.2
25.1%
115.5
100.0%
131.3
100.0%
148.9
100.0%
154.2
100.0%
145.0
100.0%
164.0
100.0%
2012
608.2
174.1
74.1
22.8
879.3
3Q11
4Q11
1Q12
2Q12
3Q12
4Q12
33.2
19.0%
36.1
18.6%
39.3
19.7%
41.9
19.9%
45.5
20.5%
47.3
19.2%
39.4
22.5%
52.5
27.1%
52.5
26.4%
58.9
27.9%
60.5
27.2%
66.0
26.7%
56.9
32.5%
50.2
25.9%
50.9
25.5%
54.8
26.0%
48.8
22.0%
59.3
24.0%
45.6
26.1%
54.9
28.3%
56.5
28.4%
55.4
26.3%
67.4
30.3%
74.2
30.1%
175.1
100.0%
193.5
100.0%
199.1
100.0%
211.1
100.0%
222.2
100.0%
246.8
100.0%
2009
2010
2011
2012
146.2
36.2%
154.3
28.1%
131.6
19.4%
174.1
19.8%
62.2
15.4%
105.1
19.1%
155.8
23.0%
238.0
27.1%
141.4
35.0%
195.4
35.5%
214.8
31.7%
213.8
24.3%
175.4
25.9%
253.5
54.4
13.5%
95.1
17.3%
404.2
100.0%
549.9
100.0%
677.6
100.0%
879.3
28.8%
100.0%
Mills - Cost of goods and services sold (COGS) and the general, administrative and operating expenses (G&A)
in R$ millions
Costs of job execution
1Q09
2Q09
3Q09
4Q09
1Q10
25.9
51.0%
34.1
55.2%
33.8
52.0%
37.7
54.7%
35.7
Costs of sale of equipment
0.3
0.6%
1.5
2.4%
2.3
3.5%
3.4
5.0%
5.4
Costs of asset write-offs
0.1
0.2%
0.1
0.1%
0.1
0.1%
0.1
0.1%
0.1
Equipment storage
COGS, ex-depreciation
26.3
51.8%
35.7
57.7%
36.1
55.6%
41.2
59.7%
41.1
G&A
24.5
48.2%
26.2
42.3%
28.9
44.4%
27.8
40.3%
31.6
Total COGS, ex-depreciation + G&A
50.7 100.0%
69.0 100.0%
72.7
61.8 100.0%
65.0 100.0%
2Q10
3Q10
4Q10
1Q11
2Q11
3Q11
4Q11
49.1%
44.1
54.6%
50.9
54.7%
51.9
47.7%
45.9
49.8%
52.2
49.3%
58.5
47.1%
53.3
7.4%
3.6
4.5%
6.2
6.7%
8.0
7.4%
3.5
3.8%
4.5
4.3%
5.6
4.5%
11.8
0.1%
0.4
0.4%
1.0
1.0%
2.6
2.4%
1.2
1.4%
1.3
1.2%
0.6
0.5%
1.4
56.6%
48.1
59.5%
58.1
62.5%
43.4%
32.7
40.5%
34.9
37.5%
100.0%
80.8 100.0%
93.0 100.0%
5.4
5.8%
6.7
6.3%
8.1
6.6%
7.1
62.6
57.5%
56.0
60.8%
64.7
61.1%
72.9
58.7%
73.7
46.3
42.5%
36.1
39.2%
41.2
38.9%
51.3
41.3%
43.4
124.2 100.0%
117.1
108.8 100.0%
92.1 100.0%
106.0 100.0%
Menu
1Q12
2Q12
3Q12
4Q12
2009
2010
45.5%
48.6
43.0%
56.0
44.2%
56.5
44.8%
64.2
41.4%
131.5
53.3%
182.6
10.1%
6.2
5.5%
7.2
5.7%
11.0
8.7%
16.5
10.6%
7.5
3.0%
23.2
1.2%
1.2
1.1%
1.6
1.2%
1.9
1.5%
0.2
0.1%
0.3
0.1%
4.0
6.1%
7.6
6.7%
8.1
6.4%
9.4
7.5%
10.5
6.8%
0.0%
63.0%
63.6
56.4%
72.8
57.5%
78.9
62.5%
91.4
58.9%
139.3
56.5%
209.9
49.3
43.6%
53.9
42.5%
47.3
37.5%
63.8
41.1%
107.3
43.5%
145.5
155.1 100.0%
246.5
37.0%
100.0%
112.9 100.0%
126.7 100.0%
126.2 100.0%
100.0%
355.4
2011
2012
51.4%
210.0
47.8%
225.2
43.2%
6.5%
25.5
5.8%
41.0
7.9%
1.1%
4.6
1.0%
4.9
0.9%
0.0%
27.3
6.2%
35.5
6.8%
59.1%
267.4
60.8%
306.7
58.9%
40.9%
172.1
39.2%
214.2
100.0%
439.5
100.0%
520.9
41.1%
100.0%
Mills - EBITDA per segment

in R$ millions
1Q09
2Q09
3Q09
4Q09
1Q10
54.0%
19.1
44.7%
17.2
45.5%
20.3
44.6%
16.4
7.1 22.6%
7.7
18.0%
7.3
19.4%
9.7
21.3%
10.3
Heavy Construction
17.1
Industrial Services
0.2
0.6%
9.0
21.1%
5.3
14.1%
6.3
13.8%
6.3
Rental
7.3
22.9%
7.0
16.3%
7.9
21.0%
9.2
20.2%
9.8
Total EBITDA
EBITDA margin (%)
31.6 100.0%
38.4%
42.8 100.0%
40.9%
37.7 100.0%
36.7%
45.6 100.0%
39.8%
42.8
37.0%
2Q10
3Q10
4Q10
1Q11
2Q11
3Q11
38.3%
21.6
42.9%
22.3
39.9%
13.3
29.2%
15.6
29.4%
14.1
24.3%
8.6
17.0%
24.0%
10.0
19.8%
11.9
21.4%
11.6
25.6%
12.3
23.2%
13.5
23.2%
16.4
32.2%
14.8%
6.9
13.8%
7.0
12.6%
5.8
12.8%
6.1
11.6%
8.1
14.0%
4.1
8.1%
22.9%
11.9
23.5%
14.6
26.2%
14.7
32.3%
18.9
35.8%
22.3
38.4%
21.7
42.7%
100.0%
50.5 100.0%
38.4%
55.9 100.0%
37.6%
45.4 100.0%
29.4%
52.8 100.0%
36.4%
58.0 100.0%
35.4%
50.8 100.0%
29.0%
Menu
4Q11
1Q12
2Q12
3Q12
4Q12
19.5
25.5%
18.9
21.9%
21.2
25.1%
24.1
25.1%
20.2
22.0%
23.9
31.2%
26.3
30.5%
27.2
32.2%
33.8
35.2%
26.1
28.5%
2.3
3.1%
6.2
7.2%
4.7
5.5%
0.1
0.1%
8.4
9.2%
30.7
40.2%
34.9
40.4%
31.4
37.2%
38.0
39.6%
36.9
40.3%
86.2
100.0%
84.4
100.0%
96.1
100.0%
91.7
100.0%
76.4 100.0%
39.5%
43.3%
40.0%
43.2%
37.1%
2009
2010
2011
2012
73.7
46.7%
73.6
37.8%
57.8
24.3%
84.3
23.5%
31.8
20.2%
43.9
22.6%
66.0
27.7%
113.4
31.7%
20.8
13.2%
26.1
13.4%
20.7
8.7%
19.4
5.4%
31.3
19.9%
51.0
26.2%
93.6
39.3%
141.2
39.4%
157.6
100.0%
194.5
100.0%
238.1
100.0%
358.4
100.0%
39.0%
35.4%
35.1%
40.8%
Mills - Capex per segment
in R$ millions
1Q09
2Q09
3Q09
4Q09
1Q10
Heavy Construction
2.6
1.4
9.3
8.9
21.6
0.3
1.8
6.6
7.1
11.2
Industrial Services
1.5
0.5
1.5
2.0
7.3
Rental
3.8
10.1
12.8
3.4
18.1
Corporate
0.8
0.5
0.3
1.3
0.5
Organic growth
9.0
14.2
30.5
22.7
58.7
Acquisition
Total capex
9.0
14.2
30.5
22.7
58.7
Realized
2Q10
3Q10
4Q10
1Q11
2Q11
3Q11
4Q11
1Q12
2Q12
3Q12
19.2
25.0
8.5
8.4
8.2
13.8
16.9
9.0
24.0
11.3
24.7
33.6
34.5
37.0
40.8
50.6
56.6
15.4
12.5
22.8
7.3
6.8
3.6
2.2
4.1
6.9
4.1
3.2
1.1
0.2
35.1
52.5
25.0
42.4
43.1
43.9
33.4
26.0
40.9
40.3
3.8
3.1
7.3
4.7
3.5
6.4
3.4
4.8
5.1
4.9
90.0
121.0
78.8
94.6
99.7
121.6
114.4
58.4
83.5
79.4
90.0
5.5
184.6
105.2
121.6
114.4
90.0
121.0
78.8
58.4
83.5
79.4
Menu
4Q12
2009
2010
2011
2012
6.3
22.1
74.3
47.3
50.5
9.1
15.8
104.0
185.0
59.8
0.4
5.4
25.0
17.3
4.9
53.7
30.1
130.6
162.8
160.9
6.7
2.9
14.6
18.0
21.5
76.3
76.3
348.5
430.4
297.6
95.5
348.5
525.9
297.6
76.3
76.3
Heavy Construction - financial indicators

1Q09
2Q09
3Q09
4Q09
1Q10
2Q10
3Q10
4Q10
in R$ millions
Net revenue
Rental
28.9
31.5
31.4
33.5
29.8
32.4
32.7
26.8
4.0
5.6
5.5
5.9
5.8
9.3
10.0
7.4
Total net revenue
32.8
37.1
36.9
39.4
35.7
41.7
42.7
34.2
EBITDA
17.1
19.1
17.2
20.3
16.4
21.6
22.3
13.3
EBITDA margin (%)
52.0%
51.5%
46.5%
51.6%
45.9%
51.9%
52.2%
38.8%
ROIC (%)
33.0%
35.6%
29.5%
32.5%
24.4%
28.5%
25.5%
18.8%
Technical support services, sales and others
Capex
Invested Capital
Depreciation
2.6
1.4
9.3
8.9
21.6
19.2
25.0
8.5
113.2
119.2
126.5
130.7
138.4
162.2
184.4
200.6
2.9
3.0
3.2
4.3
3.6
3.9
4.5
4.8
Jahu - Residential and Commercial Construction - financial indicators

1Q09
2Q09
3Q09
4Q09
1Q10
2Q10
3Q10
4Q10
in R$ millions
Net revenue
Rental
Total net revenue
EBITDA
14.0
14.2
14.6
15.3
16.5
19.6
21.9
23.6
0.2
0.5
0.5
2.9
6.2
2.2
6.0
9.2
14.1
14.7
15.1
18.3
22.7
21.8
27.9
32.8
7.1
7.7
7.3
9.7
10.3
10.0
11.9
11.6
EBITDA margin (%)
50.5%
52.4%
48.4%
53.3%
45.3%
46.0%
42.8%
35.5%
ROIC (%)
27.4%
28.7%
25.6%
30.4%
Capex
Invested Capital
Depreciation
29.2%
23.6%
21.3%
22.3%
0.3
1.8
6.6
7.1
11.2
24.7
33.6
34.5
61.9
64.0
68.5
75.0
83.2
97.8
123.7
154.1
0.7
0.7
0.7
1.1
1.1
1.4
1.9
2.5
Industrial Services - financial indicators

1Q09
2Q09
3Q09
4Q09
1Q10
2Q10
3Q10
4Q10
in R$ millions
Net revenue
Maintenance
13.3
25.7
23.7
28.7
27.6
31.9
36.3
42.8
New plants
10.1
15.0
12.3
12.5
12.4
14.7
16.2
13.6
23.4
40.8
36.1
41.2
40.0
46.5
52.5
56.4
0.2
9.0
5.3
6.3
6.3
6.9
7.0
5.8
Total net revenue

EBITDA
EBITDA margin (%)
ROIC (%)
Capex
0.8%
22.1%
14.7%
15.3%
15.8%
14.9%
13.4%
10.3%
-6.5%
32.7%
16.4%
18.4%
17.7%
17.3%
14.9%
14.8%
1.5
0.5
1.5
2.0
7.3
7.3
6.8
3.6
Invested Capital
Depreciation
57.8
60.3
61.0
62.2
69.3
78.3
88.3
97.3
1.6
1.6
1.6
2.0
1.7
1.8
2.1
2.2
Rental - financial indicators

1Q09
2Q09
3Q09
4Q09
1Q10
2Q10
3Q10
4Q10
in R$ millions
Net revenue
Rental
Total net revenue
EBITDA
11.7
11.2
13.1
15.1
16.0
19.3
23.9
25.7
0.3
0.9
1.5
0.6
1.2
2.0
1.9
5.1
12.0
12.1
14.6
15.7
17.2
21.3
25.8
30.8
11.9
14.6
14.7
EBITDA margin (%)
60.4%
57.7%
54.2%
58.6%
57.0%
55.8%
56.6%
47.6%
ROIC (%)
22.9%
19.8%
18.6%
20.5%
23.5%
19.6%
17.3%
18.7%
Capex
Invested Capital
Depreciation
7.3
7.0
7.9
9.2
9.8
3.8
10.1
12.8
3.4
18.1
35.1
52.5
25.0
64.0
67.8
81.5
82.8
80.6
114.0
154.5
187.8
1.7
1.9
2.2
2.8
2.6
3.4
4.5
5.0
1Q11
2Q11
3Q11
4Q11
1Q12
2Q12
3Q12
4Q12
2009
2010
2011
25.0
24.3
27.3
32.5
33.1
36.9
37.0
39.1
125.3
121.8
109.2
6.8
6.2
5.9
3.5
6.3
5.0
8.5
8.2
20.9
32.4
22.5
31.8
30.6
33.2
36.1
39.3
41.9
45.5
47.3
146.2
154.3
131.6
15.6
14.1
8.6
19.5
18.9
21.2
24.1
20.2
73.7
73.6
57.8
48.9%
46.2%
26.0%
54.0%
48.0%
50.6%
52.9%
42.7%
50.4%
47.7%
43.9%
14.4%
12.1%
4.5%
17.5%
16.6%
17.8%
19.7%
14.8%
32.9%
24.1%
12.1%
8.4
8.2
13.8
16.9
9.0
24.0
11.3
6.3
22.1
74.3
47.3
203.9
209.7
215.8
222.0
226.1
239.4
247.7
254.7
121.1
171.1
213.3
5.1
5.1
5.2
5.6
5.5
6.0
6.6
6.7
13.3
16.8
20.9
1Q11
2Q11
3Q11
4Q11
1Q12
2Q12
3Q12
4Q12
2009
2010
2011
26.0
30.9
34.9
40.3
45.3
48.5
49.2
49.9
58.1
81.6
132.2
3.2
3.8
4.4
12.1
7.2
10.4
11.4
16.1
4.0
23.5
23.6
29.2
34.7
39.4
52.5
52.5
58.9
60.5
66.0
62.2
105.1
155.8
12.3
13.5
16.4
23.9
26.3
27.2
33.8
26.1
31.8
43.9
66.0
42.0%
38.8%
41.6%
45.5%
50.1%
46.1%
55.9%
39.6%
51.2%
41.7%
42.4%
15.2%
13.0%
12.5%
16.3%
15.6%
14.8%
20.2%
12.6%
26.9%
23.5%
14.3%
37.0
46.3
50.6
56.6
15.4
12.5
22.8
9.1
15.8
104.0
190.5
175.4
216.9
262.0
310.8
345.4
365.9
365.8
388.2
70.1
114.7
241.4
2.7
3.2
4.7
5.8
7.1
7.8
7.4
8.7
3.3
6.8
16.5
1Q11
2Q11
3Q11
4Q11
1Q12
2Q12
3Q12
4Q12
2009
91.5
2010
138.5
2011
37.9
39.9
41.1
39.5
35.0
37.6
30.3
32.8
158.3
12.3
17.6
15.8
10.7
15.9
17.2
18.5
26.5
49.9
56.9
56.5
50.2
57.5
56.9
50.2
50.9
54.8
48.8
59.3
141.4
195.4
214.8
6.1
8.1
4.1
2.3
6.2
4.7
0.1
8.4
20.8
26.1
20.7
12.2%
14.2%
7.2%
4.7%
12.1%
8.5%
0.2%
14.2%
14.7%
13.4%
9.7%
9.6%
14.2%
3.2%
-1.2%
7.5%
3.9%
-6.2%
13.3%
15.0%
16.0%
5.9%
6.9
4.1
3.2
1.1
0.2
25.0
17.3
2.2
4.1
0.4
5.4
108.4
111.3
123.2
133.3
127.4
127.3
123.7
117.6
62.0
83.3
119.7
2.4
2.5
2.7
2.9
2.8
2.9
2.9
2.8
6.7
7.8
10.5
1Q11
2Q11
3Q11
4Q11
1Q12
2Q12
3Q12
4Q12
2009
2010
2011
30.8
36.7
42.3
47.2
50.5
50.6
57.0
64.3
51.1
84.9
157.0
2.9
4.5
3.3
7.7
6.0
4.8
10.4
9.9
3.3
10.1
18.4
33.7
41.2
45.6
54.9
56.5
55.4
67.4
74.2
54.4
95.1
175.4
18.9
22.3
21.7
30.7
34.9
31.4
38.0
36.9
31.3
51.0
93.6
56.0%
54.1%
47.6%
56.0%
61.8%
56.6%
56.5%
49.8%
57.6%
53.6%
53.4%
17.3%
17.1%
12.9%
18.6%
20.3%
16.3%
16.3%
16.9%
21.4%
19.2%
16.5%
42.4
43.1
43.9
33.4
26.0
40.9
40.3
53.7
30.1
130.6
162.8
212.4
260.3
306.3
334.8
353.2
371.2
389.7
417.1
70.3
134.1
277.8
5.8
6.4
7.6
8.5
9.3
9.7
10.6
11.8
8.6
15.6
28.2
Menu
2012
146.1
28.0
174.1
84.3
48.5%
17.2%
50.5
241.8
24.8
2012
192.9
45.1
238.0
113.4
47.7%
15.7%
59.8
366.7
31.0
2012
135.8
78.0
213.8
19.4
9.1%
4.6%
4.9
123.3
11.4
2012
222.5
31.0
253.5
141.2
55.7%
18.2%
160.9
383.1
41.4
Mills - Income Statement

in R$ millions
Net revenue from sales and services
1Q09
2Q09
3Q09
4Q09
82.4
104.6
102.7
114.6
(32.8)
(42.4)
(43.4)
(51.0)
49.5
62.1
59.3
63.6
(24.8)
(26.5)
(29.3)
(28.2)
Operating profit before financial result
24.7
35.6
30.0
35.4
Financial expense
(7.0)
(6.1)
(5.7)
(6.5)
Financial income
0.2
0.3
0.2
0.3
Financial result
(6.8)
(5.9)
(5.5)
(6.2)
Profit before taxation
17.9
29.7
24.5
29.2
Income tax and social contribution expenses
(6.0)
(9.7)
(8.0)
(9.5)
Net income
12.0
20.1
16.6
19.8
87,220
87,220
87,220
87,421
0.14
0.23
0.19
0.23
Cost of products sold and services rendered

Gross profit
General and administrative expenses
Number of shares at the end of the period (in thousands)

Net income per share at the end of the period - R$
1Q10
2Q10
3Q10
4Q10
1Q11
2Q11
3Q11
4Q11
1Q12
115.5
131.3
148.9
154.2
145.0
164.0
175.1
193.5
199.1
(49.6)
(58.2)
(70.5)
(76.5)
(71.3)
(81.2)
(92.3)
(95.6)
(87.4)
65.9
73.1
78.4
77.7
73.7
82.8
82.8
97.9
111.8
(32.1)
(33.2)
(35.5)
(46.9)
(36.8)
(42.0)
(52.1)
(44.2)
(50.2)
33.8
39.9
42.9
30.8
36.8
40.7
30.7
53.7
61.6
(6.2)
(6.6)
(7.2)
(4.4)
(5.1)
(12.3)
(16.6)
(12.5)
(12.6)
0.5
6.3
7.1
4.8
2.1
5.4
4.6
2.7
1.4
(5.8)
(0.3)
(0.1)
0.5
(3.1)
(7.0)
(12.0)
(9.9)
(11.3)
28.1
39.6
42.8
31.3
33.8
33.8
18.8
43.8
50.3
(9.4)
(13.5)
(14.4)
(1.2)
(11.6)
(11.2)
(0.9)
(14.3)
(17.6)
18.7
26.1
28.5
30.1
22.2
22.6
17.9
29.5
32.7
87,421
124,611
124,611
125,495
125,495
125,495
125,591
125,657
125,690
0.21
0.21
0.23
0.24
0.18
0.18
0.14
0.24
0.26
Menu
2Q12
3Q12
4Q12
211.1
222.2
246.8
(98.2)
(105.2)
(120.2)
112.9
117.0
126.6
(54.9)
(48.3)
(65.1)
58.0
68.7
61.6
(11.3)
(11.2)
(16.2)
1.0
1.1
8.6
(10.2)
(10.1)
(7.6)
47.8
58.6
54.0
(8.5)
(20.6)
(12.4)
39.2
38.0
41.6
126,149
126,314
126,399
0.31
0.30
0.33
Mills - Balance Sheet

in R$ millions
1Q09
2Q09
3Q09
4Q09
1Q10
Assets
Current Assets
Cash and cash equivalents
Marketable securities
Trade receivables
Inventories
Recoverable taxes
13.0
-
2.6
8.3
1.6
1.8
45.1
62.3
70.7
71.5
84.6
0.7
1.3
1.3
1.4
2.0
20.0
20.5
20.9
25.7
14.8
Advances to suppliers
2.8
Derivative financial instruments
Other current assets
3.3
3.1
4.4
4.3
3.4
82.1
89.8
105.6
104.5
109.4
Contas a receber
5.2
5.0
4.7
4.4
4.3
Tributos a recuperar
0.1
0.2
0.2
0.2
0.2
17.0
16.5
16.6
10.0
9.5
Total Current Assets

Non-Current Assets
Tributos diferidos
Depsitos judiciais
Investment
Property, plant and equipment
Intangible assets
6.5
6.6
6.0
6.0
6.1
28.8
28.3
27.5
20.6
20.1
234.4
241.4
262.7
276.0
322.3
39.1
39.1
39.1
39.3
39.3
273.5
280.5
301.8
315.3
361.6
Total Non-Current Assets
302.3
308.8
329.3
335.8
381.7
Total Assets
384.4
398.6
434.9
440.3
491.1
in R$ millions
1Q09
2Q09
3Q09
4Q09
1Q10
Liabilities
Current Liabilities
Suppliers
Borrowings, financing and finance leases
Debentures
Salaries and payroll charges
5.6
12.2
12.6
11.7
23.3
49.0
50.6
56.6
56.8
59.0
12.6
15.6
18.0
14.7
20.2
Income tax and social contribution
2.3
4.3
4.5
0.1
3.3
Tax refinancing program (REFIS)
0.8
0.8
Taxes payable
2.7
4.1
4.6
4.0
2.7
Profit sharing payable
6.6
9.2
13.8
3.7
Dividends payable
7.5
16.2
15.5
Derivative financial instruments
Other current liabilities
0.3
0.2
0.9
1.3
1.3
92.0
93.6
106.4
119.4
129.8
Total Current Liabilities
12.0
Non-Current Liabilities
Borrowings, financing and finance leases
Debentures
Provision for tax, civil and labor risks
139.4
22.6
130.4
22.9
135.3
127.1
147.2
8.5
8.8
24.0
Taxes payable
0.6
0.6
2.7
0.4
0.3
Deferred taxes
(2.1)
11.0
11.2
Accounts payable - stock option plan
0.5
0.5
0.5
0.6
0.6
Other non-current liabilities
0.6
1.0
Total Non-Current Liabilities
163.1
154.4
160.4
148.2
169.2
Total Liabilities
255.1
248.0
266.8
267.7
299.0
Capital
80.5
80.6
80.6
80.7
97.5
Earnings reserves
34.1
34.1
34.1
86.2
70.0
Stockholders' Equity
Capital reserves
Valuation adjustments to equity
2.7
3.8
4.8
12.0
32.1
48.6
18.7
Total Stockholders' Equity
129.3
150.6
168.1
172.6
192.1
Total Liabilities and Stockholders' Equity
384.4
398.6
434.9
440.3
491.1
Retained earnings
5.7
5.8
2Q10
3.1
3Q10
196.9
4Q10
1Q11
2Q11
3Q11
72.2
4Q11
35.2
1Q12
30.3
2Q12
29.3
3Q12
6.2
4.3
179.0
298.9
136.1
11.0
299.4
-
96.7
107.1
122.1
122.6
127.5
126.5
139.1
140.1
156.5
168.1
2.4
3.9
5.6
6.7
10.1
11.8
11.2
15.1
15.0
21.3
15.6
20.3
26.2
19.0
22.2
21.2
22.1
22.8
27.5
27.8
8.3
7.3
9.1
9.0
9.6
11.5
3.8
7.0
6.9
2.8
1.3
0.0
7.8
3.4
4.4
3.6
5.2
4.1
3.0
4.2
4.7
4.6
424.5
339.9
307.9
176.5
352.9
245.4
224.9
216.3
241.2
528.0
4.1
4.0
3.8
3.4
3.1
3.2
2.6
2.4
2.5
2.5
0.2
4.4
3.9
3.9
3.0
28.5
31.6
30.9
30.4
29.5
8.9
13.2
8.1
8.4
8.5
22.0
4.9
6.8
7.0
2.8
6.4
6.4
7.3
7.3
7.5
7.8
10.9
11.0
11.4
11.5
19.5
28.0
23.1
23.1
22.1
61.4
50.0
51.2
51.4
46.3
90.0
88.0
88.0
87.4
87.4
87.4
87.4
394.7
495.8
551.2
621.2
698.4
788.6
872.9
897.2
943.0
978.6
39.3
39.6
41.9
41.8
42.0
44.7
45.5
47.2
49.1
51.6
434.0
535.4
593.1
753.0
828.4
921.2
1,005.8
1,031.7
1,079.5
1,117.6
453.5
563.4
616.2
776.0
850.4
982.7
1,055.8
1,082.9
1,130.9
1,163.9
878.1
903.3
924.1
952.5
1,203.3
1,228.1
1,280.6
1,299.2
1,372.1
1,691.9
2Q11
3Q11
4Q11
1Q12
2Q12
3Q12
2Q10
3Q10
4Q10
4Q11
21.0
28.6
32.7
24.3
32.3
12.1
35.9
19.8
47.3
46.1
47.4
46.0
46.7
78.2
40.6
41.0
65.3
64.1
114.9
109.1
6.4
15.8
6.1
13.8
4.6
13.2
26.9
28.7
33.3
25.0
26.3
32.1
37.2
21.3
21.2
26.2
1.7
3.2
3.3
2.9
0.0
2.7
5.3
4.7
0.8
0.7
0.7
0.9
0.9
0.7
0.4
0.1
0.9
0.9
4.1
4.4
7.9
3.4
3.8
9.9
8.1
8.1
10.5
9.9
7.7
10.9
17.5
1.4
3.5
4.7
7.9
3.6
7.9
11.8
24.5
24.5
0.4
18.9
21.9
21.9
18.8
18.8
7.0
11.3
5.0
0.1
2.2
7.4
2.4
12.0
2.2
5.1
4.4
5.2
4.9
6.3
106.2
127.3
160.8
175.0
133.0
146.5
177.7
168.2
241.7
258.0
120.2
96.5
85.9
77.1
71.1
68.2
42.0
40.4
268.2
268.3
268.4
268.5
268.6
537.3
11.7
12.7
16.1
14.7
16.0
11.0
9.6
9.1
0.3
0.3
5.0
9.4
9.8
11.1
10.0
81.6
11.5
78.7
11.3
10.5
10.7
10.4
10.5
10.7
10.0
9.9
1.0
0.9
1.0
0.8
0.6
0.6
0.6
0.5
0.7
0.6
142.6
121.6
108.2
101.3
372.9
378.6
366.7
362.7
337.3
599.2
248.7
248.9
268.9
276.3
505.9
525.1
544.5
531.0
579.0
857.2
523.5
523.5
525.1
525.1
525.1
526.8
527.6
528.0
533.6
536.2
70.0
70.0
145.2
144.8
144.4
144.1
212.0
211.7
211.3
210.9
(8.4)
(8.1)
(8.2)
(7.7)
(6.9)
(6.5)
(5.6)
(4.7)
(3.8)
(1.9)
(0.5)
(4.2)
(7.0)
(8.6)
(10.7)
(3.1)
2.1
0.2
1.1
0.3
44.8
73.2
22.6
45.5
41.8
33.0
50.9
89.2
629.3
654.4
655.2
676.2
697.5
703.1
736.1
768.2
793.1
834.7
878.1
903.3
924.1
952.5
1,203.3
1,228.1
1,280.6
1,299.2
1,372.1
1,691.9
Menu
4Q12
44.2
159.6
194.8
26.9
35.0
6.7
6.5
473.7
2.5
30.7
11.9
45.1
87.4
1,003.3
54.5
1,145.3
1,190.4
1,664.1
4Q12
47.8
41.8
13.0
27.6
0.9
18.6
20.1
36.2
0.8
7.8
214.5
30.2
537.5
9.9
2.4
9.8
0.4
590.2
804.7
537.6
321.8
0.2
(0.3)
859.3
1,664.1
Mills - Cash flow

in R$ millions
1Q09
2Q09
3Q09
Cash flow from operating activities

Net income before taxation
12.0
20.1
16.6
Adjustments
Depreciation and amortization
6.9
7.1
9.0
Provision for tax, civil and labor risks
Expense on stock options
1.0
1.0
1.7
Residual value of fixed and intangible assets
0.4
0.1
0.3
Gain on sale of fixed and intangible assets
Marketable securities income
Interest, monetary and exchange rate variation on loans, contingencies and deposits in court
6.8
5.8
5.5
Allowance for doubtful debts
Deffered Income tax and social contribution
0.2
0.4
0.4
Present value adjustment
15.3
14.5
16.8
(8.2)
Changes in assets and liabilities

Trade receivables
6.5
(17.0)
(0.3)
(0.6)
0.1
Recoverable taxes
1.9
(0.4)
(0.4)
Deposits in court
0.0
(0.0)
0.6
Prepaid expenses
0.1
0.2
0.3
Prepaid suppliers
0.2
0.1
(1.3)
Other assets
(0.8)
(0.1)
(0.3)
Suppliers
(7.9)
6.6
0.4
Salaries and payroll charges
(0.5)
2.9
2.4
Income tax and social contribution
(0.3)
2.0
Inventories
Tax recovery program - Law 11,941/2009

Taxes payable
0.2
(2.2)
(0.9)
1.4
2.6
3.4
(5.4)
2.7
Provision for contingencies
0.3
0.3
1.1
Other liabilities
0.2
(0.0)
0.1
1.9
(10.1)
(1.8)
Cash from operations
29.1
24.5
31.6
Interest paid
(3.3)
(6.2)
(2.9)
Income tax and social contribution paid
Profit sharing paid
Lawsuits settled
Net cash provided by operating activities
25.8
18.2
28.6
Cash flow from investment activities

Marketable securities
Acquisitions of investments
Acquisitions of fixed and intangible assets
(9.0)
(14.2)
(30.5)
Revenue from sale of non current and intangible assets
PIS and COFINS tax credits from acquisition of rental equipment
(1.0)
(0.1)
(0.3)
Asset write-off
Cash used in investing activities
(10.0)
0.0
(14.2)
(30.8)
Cash flow from financing activities

Capital subscription
0.1
Shares in treasury
Costs of issues of shares
Dividends and interest on capital invested paid
(7.5)
Amortization of borrowings
(8.4)
(11.8)
(9.6)
3.8
4.8
17.5
Net cash provided by (used in) financing activities
(4.6)
(14.4)
7.9
Increase in cash and cash equivalents
11.2
(10.3)
5.7
1.8
13.0
2.6
13.0
2.6
8.3
New borrowings / debentures
Cash and cash equivalents at the beginning of the period

Cash and cash equivalents at the end of the period
4Q09
1Q10
29.2
10.1
2Q10
3Q10
4Q10
1Q11
2Q11
3Q11
4Q11
1Q12
28.1
39.6
42.8
31.3
33.8
33.8
18.8
43.8
50.3
8.9
10.6
13.0
14.5
16.0
17.2
20.2
22.8
24.7
0.2
0.6
0.8
0.2
0.4
1.0
0.2
1.0
1.1
0.1
(0.4)
0.5
0.3
0.4
0.8
0.9
0.9
0.9
6.1
3.8
4.0
3.2
6.6
1.4
2.1
1.2
3.2
3.6
(0.1)
0.1
0.0
(0.9)
(1.5)
(4.2)
(4.3)
(3.8)
(2.9)
(6.3)
(5.8)
(4.3)
(7.4)
(6.2)
(6.6)
8.0
(1.6)
1.6
(1.5)
2.9
6.0
4.8
5.3
5.9
4.3
11.3
13.5
(1.3)
0.3
0.9
0.8
0.5
1.9
(0.0)
9.9
11.5
(0.6)
0.9
0.0
9.2
(0.3)
6.4
(0.1)
0.1
19.6
17.3
8.7
10.2
33.4
18.3
29.8
39.8
31.7
40.8
(0.2)
(13.0)
(11.9)
(10.3)
(15.6)
(0.6)
(6.1)
(8.7)
(11.8)
(7.2)
(0.1)
(0.7)
(0.4)
(1.5)
(1.7)
(1.1)
(3.3)
(1.8)
0.6
(3.9)
(9.0)
14.4
5.8
(13.6)
4.1
4.2
7.2
(21.6)
4.2
3.4
(0.7)
0.0
(0.4)
0.0
(1.0)
0.0
(0.2)
(0.3)
0.1
(0.1)
(0.0)
(0.9)
(1.9)
(1.6)
(3.9)
(0.0)
(0.7)
(1.7)
0.5
(3.7)
9.3
(0.9)
11.6
(2.3)
7.6
4.1
(8.4)
4.2
(0.7)
6.0
(1.5)
(3.3)
5.5
1.0
4.9
(4.9)
5.6
1.8
4.6
(8.3)
1.3
(2.1)
(1.8)
3.2
(1.9)
(0.3)
(1.0)
0.3
3.0
(5.3)
(0.0)
6.8
0.5
1.3
0.2
(0.5)
5.1
(5.1)
4.2
(0.5)
(1.0)
(10.5)
14.6
(5.3)
(18.5)
(15.7)
3.0
(2.9)
(20.8)
(18.5)
0.3
38.3
60.0
43.1
34.6
49.0
55.1
60.7
37.8
57.0
91.4
(6.8)
(3.8)
(7.4)
(2.5)
(5.5)
(4.3)
(2.8)
(2.9)
(22.2)
(2.5)
(7.3)
(5.7)
(16.1)
(1.5)
(8.7)
(2.2)
(8.5)
(7.0)
(2.7)
(15.1)
(0.0)
(13.9)
(0.0)
0.0
(0.0)
(7.9)
24.2
36.6
30.6
34.8
31.1
48.0
126.7
9.4
1.5
(90.0)
(3.4)
(0.0)
0.6
(94.6)
(96.0)
(137.6)
(292.7)
113.4
(58.7)
19.5
(22.7)
(17.5)
(89.9)
(119.9)
(80.0)
49.4
27.9
32.1
(102.1)
(2.6)
63.3
(73.0)
1.0
1.6
4.5
5.4
6.5
4.2
8.1
7.3
6.6
9.7
(21.7)
(57.2)
(378.1)
0.1
(13.8)
425.9
(1.1)
(25.5)
1.7
(53.8)
(81.9)
(130.3)
1.7
(93.4)
(63.3)
0.8
0.4
14.5
-
(0.5)
(0.0)
(14.5)
(0.2)
(0.4)
(15.5)
(3.6)
(24.1)
(0.4)
3.6
(15.1)
(10.9)
(46.8)
(31.0)
(10.7)
(6.3)
(63.8)
(8.2)
(8.0)
(8.7)
5.8
31.0
10.8
3.3
1.5
30.7
295.1
3.0
27.8
3.4
(9.2)
20.7
359.9
(27.9)
(7.9)
20.8
207.3
(4.4)
24.2
(4.9)
(6.8)
0.2
1.3
1.7
1.4
(1.9)
174.7
(106.8)
(37.1)
(4.9)
8.3
1.6
1.8
3.1
4.8
6.2
4.3
179.0
72.2
35.2
1.6
1.8
3.1
4.8
6.2
4.3
179.0
72.2
35.2
30.3
Menu
2Q12
3Q12
4Q12
47.8
58.6
54.0
26.4
27.4
30.1
1.0
(4.8)
(1.1)
0.9
1.9
2.1
4.3
3.9
8.4
(6.1)
(8.8)
(3.7)
(0.1)
8.9
12.1
14.4
(0.0)
(0.0)
(0.1)
3.8
2.0
3.9
(0.1)
(0.0)
39.0
33.6
53.9
(20.2)
(13.6)
(30.7)
0.1
(6.3)
(5.7)
3.9
5.6
0.6
(0.5)
(0.0)
(0.4)
(4.9)
1.4
(1.6)
(2.0)
(2.4)
(0.1)
5.8
5.1
(9.6)
(0.6)
2.5
6.0
1.0
1.8
1.4
(17.4)
(6.0)
(40.1)
69.4
86.2
67.8
(19.0)
(3.1)
(22.5)
(16.2)
(8.4)
(15.3)
34.2
74.8
(53.9)
29.9
(159.6)
-
(78.1)
(74.5)
18.4
9.5
8.5
(44.5)
(69.6)
5.6
2.6
(215.7)
1.4
(0.0)
(21.9)
(7.1)
(9.7)
(69.6)
32.7
272.0
(1.2)
9.3
264.8
(69.4)
(1.0)
270.0
(255.3)
30.3
29.3
299.5
29.3
299.2
44.2

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Mills' Results

Mills - Main financial figures

Mills - Net revenue per type

Technical support services

Total net revenue

Mills - Net revenue per segment

Total net revenue

Costs of job execution

Costs of sale of equipment

Costs of asset write-offs

Total COGS, ex-depreciation + G&A

Mills - EBITDA per segment

Mills - Capex per segment

Jahu - Residential and Commercial Construction

Heavy Construction - financial indicators

Total net revenue

EBITDA margin (%)

Technical support services, sales and others

Jahu - Residential and Commercial Construction - financial indicators

EBITDA margin (%)

Industrial Services - financial indicators

Total net revenue

Rental - financial indicators

EBITDA margin (%)

Mills - Income Statement

Net revenue from sales and services

Operating profit before financial result

Profit before taxation

Income tax and social contribution expenses

Cost of products sold and services rendered

Number of shares at the end of the period (in thousands)

Mills - Balance Sheet

Derivative financial instruments

Other current assets

Total Current Assets

Total Non-Current Assets

Income tax and social contribution

Tax refinancing program (REFIS)

Profit sharing payable

Derivative financial instruments

Other current liabilities

Total Current Liabilities

Tax refinancing program (REFIS)

Accounts payable - stock option plan

Other non-current liabilities

Total Non-Current Liabilities

Total Stockholders' Equity

Total Liabilities and Stockholders' Equity

Mills - Cash flow

Cash flow from operating activities

Provision for tax, civil and labor risks

Expense on stock options

Profit sharing payable

Residual value of fixed and intangible assets

Gain on sale of fixed and intangible assets

Marketable securities income

Tax refinancing program (REFIS)

Allowance for doubtful debts

Deffered Income tax and social contribution

Present value adjustment

Changes in assets and liabilities

Salaries and payroll charges

Income tax and social contribution