EARNINGS
4th QUARTER OF 2019RELEASE
Sustainable House(Ouro Branco, MG)
Free
Cash
Flow
Working Capital and
Cash Conversion Cycle
FCF
Longer debt maturity profi le
Debt amortization schedule
Average debtcost 5.5%
Average debtterm 7.4 anos
INDEBTEDNESS
Debt Leverage and RatioR$ billion
EBITDA
Properties launches - SP
-13.4%
-38.6%
-13.2%
33.2%
18.4%
29.2%
4.1%
2014 2015 2016 2017 2018 2019 2020 e
Properties sales- SP
-31.0%
-13.6%-8.9%
20.0%
8.6%
22.5%
9%
2014 2015 2016 2017 2018 2019 2020 e
Source: Tendências
BRAZIL b u s i n e s s d i v i s i o n
3,4183,403
3,713
3,146
2,429
2,156
2,6992,881
2,944 3,158
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 e
Annual production of
heavy vehicles
Annual production of
light vehicles
SPECIAL STEEL BRAZIL
b u s i n e s s d i v i s i o n
Vehicles Productionthousand
3,633
3,8023,767
3,498
2,569
2,0512,240
2,566
2,787 3,050
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 e
Vehicles Salesthousand
Annual sale of
heavy vehicles
Annual sale of
light vehiclesSource:
Anfavea
m e t a l s p r e a d
NORTH AMERICAl o n g s t e e l
344351
502
443407
US$ per short ton
b u s i n e s s d i v i s i o n
17,500
17,800
17,100
17,000
16,800
16,400
16,600
16,900
17,00017,200
2015 2016 2017 2018 2019 2020 e 2021e 2022 e 2023 e 2024 e 2025 e 2026 e
Annual production
of light vehicles
SPECIAL STEEL NORTH AMERICA
b u s i n e s s d i v i s i o n
Light vehicle productionthousand
Source: IHS
Market
17,20017,300
Steel consumption should
accompany economic
growth
43.9 43.8
45.5
2018 2019 e 2020 e
SOUTH AMERICA
b u s i n e s s
d i v i s i o n
+3.8%Peru
+3.6%Colombia
-1.3%Argentina
South and Central America
PIB outlook
for 2020
Steel demand
(million of tonnes)
Source: Banco Central do Peru, FMI e Worldsteel
CAPEXR$ 7 billion
in 3 years
(R$ million)
*Estimated
Information
797
1,163 1,132
424
562 593 525
874 912 1,746
2,599 2,637
General
Maintenance
Ouro Branco
Maintenance
Technological
expansion and
update
Capacity Increase Location Value(R$ million)
Additional Capacity (1.000 tonnes)
Start-up date
Beams and Merchant Bar North America 456 530 2021
SBQ Pindamonhangaba-SP 532 400 2021
SBQ Monroe-Michigan 266 160 2020
2019 2020e 2021e
Mainly investments
on going
Sustainability
Creating value forcostumers
Operationalprofitability
Free Cash Flow
Digital Transformation
F U T U R E
SAVE THE DATE | MAY, 6EARNINGS
1st QUARTER OF 2020RELEASE
Sustainable house(Ouro Branco, MG)