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FORJAS TAURUS S.A.FORJAS TAURUS S.A.MARCH, 2010MARCH, 2010
SHAREHOLDING STRUCTURESHAREHOLDING STRUCTUREPOLIMETAL PARTICIPAÇÕES S.A. is the controlling shareholder of TaurusPOLIMETAL PARTICIPAÇÕES S.A. is the controlling shareholder of Taurus
Legend:Forjas
Taurus S.A.
Polimetal *94,1%
Ações Ordinárias Ações Preferenciais
Outros5,9%
Geração Futuro40,3%
PREVI29,4%
Outros30,3%
31,4% 26,7% 19,6% 20,3%2,0%
Capital Stock: R$ 201.000.000,00Number of shares:
ON: 42.744.720 PN: 85.489.440
X.X% = Current Percentage of Total Capital* In Consolidation
Taurus InternationalManufacturing, Inc.
Taurus Holdings, Inc.
Taurus Máquinas-Ferramenta Ltda.
Taurus Blindagens Ltda.
Taurus Properties, Inc.
Famastil TaurusFerramentas S.A.
Taurus Helmets Ind.Plástica Ltda.
Taurus BlindagensNordeste Ltda.
100% 100%
35% 24,2% 99,86%100%
99,99% 99,99%
Taurus Invest.Imobiliários Ltda.
75,8% 30,6%
69,4%
BraztechInternational, L.C.
100%
Polimetal Participações S.A.
Invespar72%
LFCE28%
Pentágono0,00011%
X.X% = Current Percentage of Common Capital
ORGANIZATIONAL CHARTORGANIZATIONAL CHARTThe Company has implemented Corporate GovernanceThe Company has implemented Corporate Governance
Chairman of the Board / CEOLuis F. C. Estima
Strategic Committee Fiscal Counsel
Board of Directors
Senior Vice-PresidentRuy F. V. Soares
Human Resources DirectorMuciano N. Dias
Executive Vice-PresidentJorge Py Velloso
Source:Company reports
COMPANY´S FACILITIES COMPANY´S FACILITIES The group is comprised by five business units in Brazil, The group is comprised by five business units in Brazil,
one in the USA and has approximately 4,601 employessone in the USA and has approximately 4,601 employess1
Forjas Taurus I• Firearms
Taurus Blindagens and Taurus Helmets•Helmets• Bulletproof vests• Anti-riot shields• Plastic containers
Famastil• Hand tools• Garden accessories
Forjas Taurus II• Forged products• Products heat treatment• Metal Injection Molding – M.I.M.
Taurus Wotan•Machine tools
TIMI (USA)• Firearms• Metal Injection Molding – M.I.M.
1As of March, 2010
FIREARMS – FORJAS TAURUS and TIMITaurus is one of the world´s largest handgun manufacturer
Overview
For over 70 years, operates in local and foreign markets Market share: 90% in Brazil and 15% EUA
In 1st Quart. 10, 54,5% of revenues was generated by exports, mainly from the U.S. market
Public security market has a positive growth perspective
Exports also have positive growth perspectives due to the increase of U.S. demand, and growth indications in other export markets
Products: Revolvers, pistols, carbines, air guns and police weapons
Products
Overview Products
FORGED PRODUCTS – FORJAS TAURUSHigh technology in forged and machined products
The Company manufactures forged products up to 25kg, using materials such as carbon steel, alloy steel, stainless steel, titanium, aluminum and other non-ferrous metals
Main consumers are the Automotive, Energy, Oil, Motorcycle and Agriculture industries
There are good perspectives for the company´s revenues growth, due to (i) the increase in machined production, (ii) the addition of new forging machinery and (iii) the growth of M.I.M. – Metal Injection Molding sales
Overview Products
HELMETS AND BULLET-PROOF VESTS - TAURUS BLINDAGENS and HELMETSTaurus Blindagens and Helmets lead the segments of bullet-proof vests
and motorcycle helmets, respectively
Pioneer in manufacturing helmets in Brazil
Local market leader of bullets-proof vests and motorcycle helmets
Quality, design and reliability. Products are certified by INMETRO (Brazilian Institute of Metrology, Standards and Industrial Quality)
Products
- Bullet proof and tactical vests and anti-riot shields
- Motorcycle helmets, rain gear and leather clothing
- Plastic bins and containers
Overview Products
MACHINE TOOLS – TAURUS MÁQUINAS-FERRAMENTATaurus Máquinas-Ferramenta leads Latin American manufacturing of horizontal and vertical boring and milling machines, vertical turning lathes and machining centers
The only manufacturer of large machine tools in Latin American
More than 3,000 machines installed in over 40 countries
Main customers are aeronautics and space industry, automotive, steel, construction, power generation, defense, nuclear, oil, among others
Service Portfolio– Manufacturing of welding components,
job shop, heat treatment, and finishing of structural components
– Machine tool retrofitting
Overview Products
HAND TOOLS AND GARDEN ACCESSORIES - FAMASTIL TAURUSFamastil manufacturers tools for engineering, construction and gardening
Exports to the five continents, selling its products to wholesalers, dealers and department stores
The merger of Famastil Ferramentas and Taurus occurred in 2004
Products
Mechanic hand tools Household tools Construction tools Gardening tools
THE COMPANYTHE COMPANY
Growth Strategy Corporate Governance
Technology
Cost efficiency through a vertical integrated production
Economies of scale Products with high added value Slightly moving from regulated to
unregulated markets
Assembly of Shareholders Board of Directors
Strategic Planning Committee Code of Conduct Legal Counsel 2010: New Market and
intensification of the best practices of Corporate Governance
North American owned subsidiary in the USA
Visibility in Brazil and abroad Market leader in Brazil in
different segments
Markets State of the Art production facilities
Use of cutting-edge technology Products with quality and
exclusive design
Net RevenuesR$ MM
Net ProfitR$ MM
Net Revenues Breakdown per Product – Acumulated until march - % R$ MM
2009 2010
TAURUS COMPANY´STAURUS COMPANY´SFINANCIAL HIGHLIGHTSFINANCIAL HIGHLIGHTS
Local Market Exports
61%
2004 2005 2006 2007 2008 2009 1Q10
39%
CAGR +22%
61%
54%
46%
49%
51%
39%
61%
47%
53%
59%
41%
54,5%
45,5%
250,4
333,2
408,9 429,3
599,2
679,4
153,9
2004 2005 2006 2007 2008 2009 1Q10
30,4
43,6
55,1
23,3
CAGR + 16,8%
18,2
50,8
14,9
GunsR$ 158,3 76,2%
Forged products
R$ 5,3 2,6%
Others productsR$ 3,5 2,0%
HelmetsR$ 15,5 7,5%
Machines toolsR$ 19,5 9,4%
Hand toolsR$ 5,5 2,6%
GunsR$ 105,8 68,6%
Forged productsR$ 7,5 4,9%
Others productsR$ 2,9 2,0%
HelmetsR$ 21,4 13,9%
Machines toolsR$ 9,7 6,3%
Hand toolsR$ 6,6 4,3%
TAURUS COMPANY´S TAURUS COMPANY´S INFORMATION PER BUSINESS SEGMENT INFORMATION PER BUSINESS SEGMENT
Consolidated amounts in thousand of reaisConsolidated amounts in thousand of reais
Selected items1Q09 1Q10 Var. 1Q09 1Q10 Var. 1Q09 1Q10 Var. 1Q09 1Q10 Var. 1Q09 1Q10
Net revenue 158,3 105,8 -33,2% 15,5 21,4 38,1% 19,5 9,7 -50,3% 14,3 17,0 18,9% 207,6 153,9% age net revenue 76,2% 68,6% -7,6 p.p 7,5% 13,9% +6,4 p.p 9,4% 6,3% -3,1 p.p 7,0% 11,0% +4,0 p.p 100% 100%Gross results 80,2 65,4 -18,5% 7,5 10,2 36,0% 0,0 0,8 4,1 3,6 -12,2% 91,8 80,0Gross margin 50,7% 61,8% +12,1 p.p. 48,4% 47,7% -0,7 p.p. 0,0% 8,2% +8,2 p.p. 28,7% 21,2% -7,5 p.p. 44,2% 52,0%Net results 11,6 13,0 12,1% 5,2 5,5 5,8% -4,1 -3,6 -12,2% -0,1 0,0 0,0% 12,6 14,9Net margin 7,3% 12,3% +5,0 p.p 33,5% 25,7% -7,8 p.p -21,0% -37,1% -16,1 p.p -0,7% 0,0% -0,7 p.p 6,1% 9,7%
Guns Motorcycle helmets Machine tools Others Total
TAURUS COMPANY´S TAURUS COMPANY´S EBITDA AND % MARGIN – R$ MMEBITDA AND % MARGIN – R$ MM
R$ 38,0R$ 43,2
R$ 56,2
R$ 88,6
R$ 128,6R$ 136,7
R$ 38,2
15% 13%14%
21% 21% 20%
25%
2004 2005 2006 2007 2008 2009 1T10