SH foresees growing 40% in 2010 and increases investment
Valor Econômico
The signs of resumption of civil engineering still in the second half of last year lead SH, a company specialized in the supply of frames and scaffolding for the sector, foresees growth of 40% in earnings for this year. In order to sustain the growth, the group decided to invest R$ 60 million (US$ 32.4 million) until December, using own resources only. The cash will be used mainly in the purchase of equipment that is rented to builders. In 2009 R$ 22 million (US$ 11.2 million) was invested, less than 2008's R$ 40 million (US$ 22 million).
The crisis that started in the second half of 2008 was seen felt in 2009 and stopped a sequence of two-digit growth that was taking place since 2003. Nevertheless, the earnings amounted to R$ 130 million (US$ 66 million) last year, compared to the R$ 124 million (US$ 67.8 million) in 2008, a 5% high. The lease of equipment generated 76% of the income, followed by the area of mounting and industrial maintenance (14%) and by the SHI (10%). SHI is a manufacturer of frames, scaffolding and metal supports and it sells to the very SH and to third parties.
Marcelo Milech, Planning Officer of the group, highlights it is possible to see a bright side in the crisis. Milech evaluates civil engineering would not be able to keep the pace seen in 2008. The suppliers were not being able to keep up with the speed of the sector anymore. "There was no equipment surplus. Such stop allowed performing some adjustments in the supply and demand for products and services".
The crisis hit the several segments of construction very differently, says the Officer of SH. Since the company caters to all segments, it is possible to have a good view of the level of resumption of the sector. Milech tells that in the building segment the residential area has already recovered its pace, whereas the commercial area is still crawling. The infrastructure segment also begins giving signs of recovery. But the worst one is still the industrial segment, basically the building of plants and warehouses that is still waiting for orders. Milech evaluates that at least until the end of 2011 there will be no offer problems to cater to civil engineering.
The company opened the 12th unit yesterday, in Palmas (TO), where the pieces of equipment that are leased to the building companies are stored. SH is present in nine States besides the Federal District, and will open two other units - Fortaleza (CE) and Porto Alegre (RS) - later this year. Rio de Janeiro is responsible for 16% of the group's earnings, followed by Brasília (14%) and São Paulo (13%). It currently has 758 employees and foresees hiring another 80 this year.