Earnings Release 1Q17 1Q17 Highlights R$ million 1Q17 1Q17 vs. 1Q16 1Q16 1Q17 vs. 4Q16 4Q16 LTM LTM vs. 2016 2016 Net revenues 5,845 6,239 -6% 6,622 -12% 26,344 26,738 -1% Adjusted EBITDA 625 869 -28% 561 11% 4,041 4,285 -6% EBITDA margin 11% 14% -3 p.p. 8% 2 p.p. 15% 16% -1 p.p. Net income (546) 144 N.M. (1,860) -71% (1,940) (1,250) 55% Net debt/Adj. EBITDA LTM 3.92 x 2.87 x1 1.05 x 3.43 x 0.49 x 3.92 x 3.43 x 0.49 x CAPEX 570 647 -12% 899 -37% 2,954 3,031 -3% Considers only the Industrial Segment Includes the Brazilian long steel business results Consolidated Net revenues amounted to R$5.8 billion, 6% lower than 1Q16, mainly affected by lower prices and sales volume from the Brazilian...
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