Net revenue: R$162.7 mn in 1Q12 (-15.8% vs. 1Q11)
Adjusted EBITDA: R$5.3 mn in 1Q12, with margin of 3.3%
Net profit: R$17.5 mn in 1Q12 (+47.2% vs. 1Q11), with net margin of 10.7%

São Paulo, Brazil, April 30, 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 first quarter of 2012 (“1Q12”). Financial and operational information given is in accord with international accounting standards (IFRS), in Reais (R$). Comparisons are with the first quarter of 2011 (“1Q11”) or as indicated.


  • Net revenue: R$162.7 mn in 1Q12 (-15,8% vs. 1Q11). America: R$117.1 mn (-1.4% vs. 1Q11). Europe: R$45.5 mn (38.9% vs. 1Q11)
  • Gross profit of R$19.4 mn in 1Q12 (gross margin of 11.9%), compared with a gross profit of R$33.1 mn in 1Q11 (gross margin of 17.7%)
  • Adjusted EBITDA of R$5.3 mn in 1Q12 (-69.1% vs. 1Q11), margin of 3.3% (9.0% in 1Q11)
  • Net profit of R$17.5 mn in 1Q12 (+47.2% vs. 1Q11), net margin of 10.7% (6.1% in 1Q11)
  • Net debt of R$147.3 mn in 1Q12, equivalent to 3.78 times the adjusted EBITDA accumulated for the last 12 months (net debt of R$107.6 mn in 1Q11)

To access the Earnings Release, please click here.