Net Revenue: R$755.2 mn in 2011 (-3.6% vs. 2010)
Adjusted EBITDA: R$50.9 mn in 2011, with a margin of 6.7%
Operational Cash Flow1 of R$105.0 mn in 2011 (R$34.2 mn at 4Q11)

São Paulo, Brazil, February 15, 2012 - Metalfrio Solutions S.A. (FRIO3) (“Metalfrio”), one of the world’s largest manufacturers of plug-in commercial refrigeration equipment, announces its results for the fourth quarter of 2011 (“4Q11”). Financial and operational information given is in accord with international accounting standards (IFRS), in Reais (R$). Comparisons are with the fourth quarter of 2010 (“4Q10”) or as indicated.


  • Net revenue: R$755.2 mn in 2011 (-3.6% vs. 2010). Americas: R$516.0 mn (-7.6% vs. 2010). Europe: R$239.2 mn (+6.4% vs. 2010)
  • Gross profit of R$124.0 mn in 2011 (gross margin of 16.4%)
  • Adjusted EBITDA of R$50.9 mn in 2011, margin of 6.7%
  • Operating cash flow of R$34.2 mn in 4Q11 (generation of R$18.7 mn in 4Q10), and generation of R$105.0 mn in 2011, compared with a generation of R$15.0 mn in 2010

To access the Earnings Release, please click here.