2. Content
I. Main highlights in the semester
II. Consolidated net income
III. Consolidated outcomes
IV. Consolidated financial status
V. Capital market
VI. Guindance 3T11
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3. I. Main highlights in the semester
► Consolidated net income of R$ 318,4 million in 1S11. 2,7% growth in comparison with 1S10.
Local market reached R$ 145,1 million, +11,6% over 1S10 and, the international market recorded
R$ 173,3 million, -3,8% over 1S10.
► Helmets for motorcycle riders segment reached net income 29,4% higher in 1S11 than in 1S10.
The segment represented 17,8% of the consolidated net income total.
► Gross profit recorded R$ 119,8 million in 1S11 compared to R$ 137,2 million in 1S10.
Reduction influenced by the real currency appreciation and by the increases in production
costs and raw-materials in the guns and helmets for motorcycle riders segments, respectively.
► Reduction of 2,6% in the net operational expenses.
In 1S11, the net operational expenses represented 26,3% of the consolidated net income, 1,7
pp below the 27,7% recorded in 1S10.
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4. II. Consolidated net income – Em millions of R$ - share %
By market By product (1S11)
+2,7% Machines
Others R$ 14,6 4,6% Helmets
310,1 318,4 R$ 56,8 17,8%
R$ 23,2 7,3%
58%
54%
164,6 162,8 153,9
147,3
55% 59%
57% 54%
46%
42%
45% 41% 46%
43%
1Q10 1Q11 2Q10 2Q11 1S10 1S11 Guns
R$ 223,8 70,3%
Local market Foreing market Total net income: R$ 318,4
By country (1S11) Exports – In millions of US$
Brazil 212,7
R$ 145,1 46%
185,7
109,2 107,0
99,3
54,0 52,9
44,2
Others
R$ 23,2
7,3% Filipines United States
R$ 2,8 0,9% Argentina R$ 144,8 45% 2009 2010 1Q09 1Q10 1Q11 1S09 1S10 1S11
R$ 2,5 0,8%
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7. III. Consolidated outcomes – In millions of R$
Outcomes per business segment
Semester Net income Gross earmings Gross margin Earnings before taxes
1S10 1S11 Var. 1S10 1S11 Var. 1S10 1S11 Var. 1S10 1S11 Var.
Guns 208,8 223,8 7,1% 111,2 94,4 -15,1% 53,2% 42,2% -11,0 p.p. 39,7 19,5 -50,9%
Helmets 43,9 56,8 29,4% 19,2 23,9 24,8% 43,7% 42,1% -1,5 p.p. 12,5 19,8 58,4%
Machines 28,8 14,6 -49,2% 1,9 (1,4) 6,9% -9,4% (5,0) (11,9)
Others 28,6 23,2 -18,6% 4,9 2,9 -41,1% 17,2% 12,5% -4,7 p.p. 1,6 (5,1)
Total 310,1 318,4 2,7% 137,2 119,8 -12,7% 44,2% 37,6% -6,7 p.p. 48,8 22,1 -54,6%
Quarter Net income Gross earnings Gross margin Earnings before taxes
2Q10 2Q11 Var. 2Q10 2Q11 Var. 2Q10 2Q11 Var. 2Q10 2Q11 Var.
Guns 105,6 108,1 2,3% 48,4 50,9 5,2% 45,9% 47,1% +1,2 p.p. 15,1 9,7 -35,8%
Helmets 23,2 28,8 24,4% 10,0 12,4 24,7% 43,0% 43,1% +0,1 p.p. 9,4 12,1 28,6%
Machines 18,7 6,0 -67,9% 1,6 -1,9 8,8% -31,8% (1,4) (6,7)
Others 15,3 11,0 -28,4% 1,2 -1,7 7,7% -15,7% 0,4 (8,9)
Total 162,8 153,9 -5,5% 61,2 59,7 -2,5% 37,6% 38,6% +0,9 p.p. 23,5 6,3 -73,2%
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8. IV. Consolidated financial status
Amounts in millions of R$
31-12-2010 30-06-2011 Variation
Short-term indebtedness 123,3 37,4% 139,5 42,3% 13,1%
Long-term indebtedness 206,7 62,6% 190,4 57,7% -7,9%
Gross indebtedness 330,0 329,9 -
(-) Availabilities and financial investments 188,7 187,0 -0,9%
Netindebtedness 141,3 142,9 +1,1%
EBITDA 137,9 119,8 (1) -13,1%
Netindebtedness / EBITDA 1,02 x 1,19 x +0,17 x
EBITDA/Financial expenses, net 18,1 x 9,2 x (1) -8,9 x
(1) Amount referent to EBITDA 12 months in the period ended 30-06-2011
Indebtedness composition – In millions of R$
105,3
90,3
76,8
68,2
51,2 55,9 61,1
44,1
22,3 19,0 16,8
14,5 11,4 10,7
4,5 7,8
FINAME FINEP BNDES W. capital R$ W. capital Currency FNE Debêntures
US$ withdrawals
31/12/2010 30/06/2011
9. V. Capital market
Performance of the Forjas Taurus S.A. shares – BM&FBovespa
30-06-10 30-12-10 30-06-11
(i) Shares price - R$ History
ON (FJTA3) 5,30 5,50 3,36
PN (FJTA4) 5,00 4,10 3,40
(ii) Quantity of shares
ON 42.744.720 42.744.720 47.019.192
PN 85.489.440 85.489.440 94.038.384
128.234.160 128.234.160 141.057.576
(iii) Market value – In millions of R$
ON 226.547 235.096 157.984
PN 427.447 350.507 319.731
Total 653.994 585.603 477.715
10. VI. Guindance 3T11
Consolidated net income R$ 197 million
Consolidated EBITDA R$ 30 million
Consolidated investments R$ 10 million
11. • This reporting contains, or proposes to contain, forecasts and estimations, which reflect the
goals and expectations of Forjas Taurus S.A.’ Board of Directors (“Forjas Taurus” – FJT, FJTA3).
• Such information are subjected to several events which realization cannot be assured by
Taurus, including, but not limited to, the maintenance of the macroeconomic scenario and
of the economic and financial indicators. Such information is not merely basead on historical
facts, but also reflect objectives and expectations. The words “anticipate”, “desire”,
“expectation”, “forecast”, “intend”, “plan”, “predict”, “prognosis”, “assistance”, and similar
vocabulary, written or spoken, intend to identify the affirmations that necessarily involve
know and unknown risks.
• This reporting is based on events that took place until 30-06-2011, given that Forjas Taurus S.A.
is not under obligation to update such data and highlights that the investors must consult the
public documents available on the following websites: www.cvm.gov.br,
www.bovespa.com.br and www.taurusri.com.br (annual reports, quarter results, accounting
statements and others).
• Forjas Taurus S.A is not responsible for transactions or investment decisions based on the
information presented herein.
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12. CONTACT INFORMATION:
Dennis Braz Gonçalves
Director of Investors’ Relations
Edair Deconto
Executive Director of Investors’ Relations
T: (51) 3021-3000
E-mail: ri@taurus.com.br
www.taurusri.com.br
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