CIA DE FERRO LIGAS DA BAHIA S.A. - FERBASA BM&FBovespa: FESA3/FESA4 www.ferbasa.com.br
Net revenues(in R$ '000)
CARLOS H. TEMPORAL Investor Relations
+55 (71) 3404-3016 | 3404-3023 dri@ferbasa.com.br
Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14
The USA crude steel demand continues to be driven by a better performance in the construction and automotive industry sectors. This led steelmakers to maintain steady and underlying demand for ferroalloys
Net revenues and sales volumes reached R$ 69.8 million and 19,382 tonnes, respectively. Main aspects include a 56.2% growth in the revenue of FeSi75 and the export of chrome ore.
(in tonnes)
28,279
production.
Despite the reduction in the ferrochrome reference price for the
4Q14, the appreciation of the exchange rate has contributed to minimize this effect on our results.
25.000
20.000
15.000
10.000
5.000
23,317
20,077
22,028
17,799
23,630 23,832
20,820
19,478 19,397
19,009
16,906
19,382
INSTITUTIONAL-
Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14
HC FeCr FeSi 75 LC FeCr
TOTAL*
Ferbasa was a major sponsor of the
47th Brazilian Congress of Geology, held in Salvador between September
21-26. This congress gathered some
3,000 visitors including practitioners, researchers, teachers, students and executives.
Volumes sold were 11,448 tonnes (HCFeCr), 888 tonnes (LCFeCr) and 7,046 tonnes (FeSi 75), representing a decrease over the same period of 2013. Despite the increase in sales of FeSi 75, we have continued to follow our strategy of reducing exports with lower margins to focus on the domestic market and accumulate finished products inventories for the 2H' 2015.
Due to recent volatility in the foreign exchange rate the Board of Directors approved the sell of US dollar forward at notional amount (NDF) as a hedging instrument. The
characteristics are:
USD milhões | Exchange rate | Settlement |
7,0 | 2,49 | November 18, 2014 |
10,5 | 2,51 | December 16, 2014 |
10,5 | 2,52 | January 16, 2015 |
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