Economic and operating performance

In 2013, the global economic environment was marked by uncertainty, with slower growth rates and risks to financial stability. However, no extreme events occurred in global financial markets. In Brazil, Gross Domestic Product (GDP) grew 2.3% in the year, with the economy growing more robustly in the in the first half and contracting in the second half, despite the growth in consumer spending.

		5.2% increase in consolidated gross revenue

		39.4% higher investments in 2013

828,000
metric tons – fiber-
cement sales in 2013

With growth in consolidated gross revenue of 5.2%, Eternit outperformed the industry average during the period. Construction GDP grew by 1.9% in the period. Domestic sales of construction materials grew 3.0%, according to the Brazilian Association of Construction Materials Industry (ABRAMAT). Sales in the period, which were initially estimated to grow by 4.0%, were mainly impacted by the lower sales in December, which contracted by 6.1% from the year-ago period to reverse the upward trend observed since the second quarter of the year.

Based on a survey conducted by the National Association of Construction Material Dealers (ANAMACO), retail sales in the country grew by 4.4% compared to 2012, or by 0.1 percentage point below the forecast revised by ANAMACO in September 2013 of 4.5%.

Brazilian GDP vs. Construction GDP vs. Eternit’s Consolidated Gross Revenue (%)

Source: Central Bank of Brazil and IBGE. Growth in Eternit’s gross revenue compares fiscal year 2013 with fiscal year 2012 already deflated by the IGP-M index.