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Apimec – 4 q07 results

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  • 1. 4Q07 Results
  • 2. Forward Looking Statement This presentation contains certain statements that are neither reported financial results or other historical information. They are forward-looking statements. Because these forward-looking statements are subject to risks and uncertainties, actual future results may differ materially from those expressed in or implied by the statements. Many of these risks and uncertainties relate to factors that are beyond CCR’s ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of governmental regulators, the Company's ability to continue to obtain sufficient financing to meet its liquidity needs; and changes in the political, social and regulatory framework in which the Company operates or in economic or technological trends or conditions, inflation and consumer confidence, on a global, regional or national basis. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this document. CCR does not undertake any obligation to publicly release any revisions to these forward looking statements to reflect events or circumstances after the date of this presentation. 2
  • 3. Agenda Highlights Results Outlook Social Responsibility 3
  • 4. Highlights Operating • 6.9% traffic increase in the 4Q07 and 6.2% in 2007. • Net Revenue totaled R$ 633.8 million (+11.7%) in the 4Q07 and R$ 2,353.0 million (+9.7%) in 2007. • 33.9% increase in AVI users in the year, compared to Dec/06, totaling 908,000. • The consortium formed by CCR and Brisa, with respective stakes of 10% and 90%, concluded the Financial Closing on November 21, and from that date, the consortium started operating the concession. 4
  • 5. Highlights Corporate • On November 23, 2007, CCR held the 3rd CCR Day. • On November 29, 2007, the Extraordinary Shareholders’ Meeting authorized the Board of Directors to approve possible share buyback programs proposed by the Company’s management. • On December 1, 2007, CCR was included in the ISE, the Bovespa's Corporate Sustainability Index, for the third consecutive year. 5
  • 6. Highlights Upcoming Events • On January 29, 2008, CCR announced the execution of a binding and irrevocable Purchase and Sale Commitment for the acquisition of 40% of the equity in Concessionária Renovias S/A. CCR’s investment, subject to conditions precedent and adjustments set forth in said Commitment, will be R$ 265,000,000.00. • CCR’s management proposes the distribution of additional dividends referring to the fiscal year 2007 in the amount of R$ 0.50 per share, totaling R$ 201.5 million, which will be subject to the approval of the Annual Shareholders’ Meeting. This payment will complement the dividend prepayment in the amount of R$0.82 per share on August 9, 2007, resulting in a payout of 91.2% relative to the fiscal year 2007. 6
  • 7. Results The results reflect a combination of factors... R$ Million Financial Highlights 4Q06 4Q07 Chg. % 2006 2007 Chg. % Net Revenue 567.5 633.8 11.7% 2,145.0 2,353.0 9.7% Total Costs (1) (334.4) (339.2) 1.4% (1,289.3) (1,225.6) -4.9% EBIT 233.1 294.6 26.4% 855.7 1,127.4 31.8% EBIT Margin 41.1% 46.5% +5.4 p.p. 39.9% 47.9% +8.0 p.p. Depreciation and Amortization (2) 89.5 82.0 -8.4% 350.6 362.9 -6.8% EBITDA 322.7 376.6 16.7% 1,206.3 1,454.3 20.6% EBITDA Margin 56.9% 59.4% +2.5 p.p. 56.2% 61.8% +5.6 p.p. Net Financial Result (50.6) (77.5) 53.2% (193.6) (232.2) 20.0% Net Income 232.7 136.0 -41.6% 547.3 583.6 6.6% (1) Total Costs + Administrative Expenses (2) Includes prepaid expenses ...higher traffic and reduction of operating costs. 7
  • 8. Results R$ Million Financial Indicators Pro-forma 4Q06 4TQ7 4Q07 Chg. % Chg. % 2006 2007 Chg.% Net Revenue 567.5 633.8 633.8 11.7% 11.7% 2,145.0 2,353.0 9.7% (1) (1) Total Costs (334.4) (339.2) (317.3) 1.4% -5.1% (1,289.3) (1,289.3) (1,225.6) (1,203.7) -4.9% -6.6% EBIT 233.1 294.6 316.5 26.4% 35.8% 855.7 1,127.4 1,149.3 31.8% 34.3% EBIT Margin 41.1% 46.5% 49.9% +5.4 p.p. +8.8 p.p. 39.9% 47.9% 48.8% +8.0 p.p. +8.9 (2) (2) Depreciacion and Amortization Depreciation and Amortization 89.5 82.0 82.0 -8.4% -8.4% 350.5 326.9 -6.7% EBITDA 322.6 376.6 398.5 16.7% 23.5% 1,206.3 1,454.3 1,476.2 20.6% 22.4% EBITDA Margin 56.9% 59.4% 62.9% +2.5 p.p. +6.0 p.p. 56.2% 61.8% 62.7% +5.6 p.p. +6.5 Net Financial Result (50.6) (77.5) (77.5) 53.2% 53.2% (193.6) (232.2) 20.0% Net Income 232.7 120.3 136.0 154.8 -41.6% 28.6% 547.3 434.9 583.6 602.4 38,5% 6.6% (1) Total Costs + Administrative Expenses (2) Includes prepaid expenses 8
  • 9. Operating Margins Evolution (R$ million) EBITDA x EBITDA Margin 411 377 341 322 323 326 310 309 299 259 263 216 218 224 170 174 67% 161 151 130 128 62% 122 119 60% 59% 108 107 58% 59% 59% 56% 57% 55% 55% 54% 55% 53% 52% 51% 51% 49% 48% 46% 47% 47% 46% 44% 1Q02 2Q02 3Q02 4Q02 1Q03 2Q03 3Q03 4Q03 1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 3Q05 4Q05 1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1T02 2T02 3T02 4T02 1T03 2T03 3T03 4T03 1T04 2T04 3T04 4T04 1T05 2T05 3T05 4T05 1T06 2T06 3T06 4T06 1T07 2T07 3T07 4T07 9
  • 10. Revenues Toll Payment Method 34% 41% 46% 49% Electronic Meios Eletrônicos Cash À Vista 66% 59% 54% 51% 2004 2005 2006 2007 Concession Breakdown Revenues Breakdown - 2007 ViaLagos Ponte Other STP 1.7% Other 2.1% 2% 4% Rodonorte 11% 2% AutoBAn 38% ViaOeste 17% 96.2% 96,2% 26% Toll NovaDutra 10
  • 11. Traffic (Equivalent Vehicles – million) Quarterly Historical Evolution 4Q07 x 4Q06 – Concession Breakdown 12.1% 145 11.1% 130 136 103 7.2% 7.2% 5.5% 3.3% 4Q04 4Q05 4Q06 4Q07 AutoBAn NovaDutra Rodonorte Ponte Via Lagos ViaOeste Annnual Historical Evolution 2007 x 2006 – Concession Breakdown 9.3% 552 493 520 7.3% 6.8% 397 5.4% 4.5% 2.5% 2004 2005 2006 2007 AutoBAn NovaDutra Rodonorte Ponte Via Lagos ViaOeste 11
  • 12. Net Revenue & Total Costs Operating Efficiency is Key to... 2,353 2,145 1,954 1,463 1,289 1,226 1,155 16% Receita Líquida Net Revenue 932 14% 17% 13% 14% Outros Other 13% 19% R$ (million) 10% Pessoal Payroll 21% 68% 21% 22% 14% Outorga Concession Fee 60% 59% 23% 27% 52% 32% 23% Serv. Terceiros Third-Party 26% 26% D&A 24% 25% 2004 2005 2006 2007 Other: insurance, rent, marketing, travel, electronic payment and routine maintenance Third-Party Services: auditing, consulting and shared services. ... the success of our business. 12
  • 13. Indebtdness The current low leverage allows... Gross Debt Net Debt 1,997 1,227 1,756 1,161 1,139 1,483 97% 100% 1,136 R$ (million) R$ (million) 622 84% 1.05 73% 0.94 0.82 0.84 2004 2005 2006 2007 2004 2005 2006 2007 Short Term Long Term In R$ Net Debt Net Debt/ EBITDA ...great flexibility to participate in new bids. 13
  • 14. Indebtedness Releveraging may become an important… Distribution Long Term Debt Amortization Other Foreign 104.5% - 107.3% CDI BNDES Currency 6% TJLP + (4.5% - 5.5%) 448 6% 3% 424 10% 331 289 39% 39% 178 42% 41% 130 108 90 Debentures 103.3% - 105% CDI Debentures IGP-M + 7.6%-11% 2008 2009 2010 2011 2012 2013 2014 2015 …instrument for anticipating future results. 14
  • 15. Capital Expenditures CAPEX Schedule Capex (R$ MM) 4Q07 2007 2008(E) 2009 (E) AutoBAn 52.7 201.8 199.1 149.8 NovaDutra 38.7 99.0 88.9 56.0 ViaOeste 9.0 119.1 103.2 4.2 Rodonorte 30.2 50.8 90.7 74.8 Ponte 8.3 22.6 4.4 3.5 Via Lagos 0.7 4.5 0.3 0.5 ViaQuatro (0.0) 0.3 185.6 252.7 Other 1 6.8 13.7 10.9 8.7 Consolidated 146.5 511.9 683.0 550.2 (1) Includes CCR, CCR México, Actua, Engelog, Parques and STP 15
  • 16. New Businessess • State of São Paulo Concessions • Federal Concessions • Secondary Market • PPP’s • Logistics • Mexico and United States Brazil is still the main growth driver. 16
  • 17. Renovias INCOME STATEMENT Renovias CCR R$ million 2006 2007 2008E 2008E Net Revenue 174.2 188.9 213.3 213.3 EBITDA 116.8 124.7 158.1 139.3 EBITDA Margin 67.0% 66.0% 74.1% 65.3% Net Income (Loss) 46.5 41.2 55.3 51.1 17
  • 18. Social Responsibility and Cultural Policy 18
  • 19. CCR in the Market • Contracting of the advertising agency MPM Propaganda to increase the exposure of the group and its companies; • The first project was a campaign to raise driver awareness during the Carnaval holiday, seeking to reduce accident rates; • The main reason for the campaign was the increase in the accident and death rates on Brazilian highways, especially during longer holidays. 19
  • 20. Social and Cultural Responsibility Policy Tela Brasil Cinema Approximately 300,000 people Roda Brasil Circus Over 90,000 people Culture Road to Citizenship 4,200 educators and 550,000 children I Use de Pedestrian Crossing Over 2,500 children, youngsters and adults Ways to Life Institute Over 1,000 students Education Road to Health Approximately 50,000 truckers Humanized Childbirth Over 4,000 people RodoPac 20,000 drivers Life Volunteers 600 blood donators I am “Sangue Bom” 200 blood donators Health Back Home 1.5 million of receipts issued per month Quality Competition Received more than 30 tones of food Grael Project Helped 4,500 students of public schools Sports’ Caravan Benefited over 35,000 children Social 20
  • 21. COMPANHIA DE CONCESSÕES RODOVIÁRIAS 21
  • 22. Investor Relations invest@ccrnet.com.br Phone: 55 (11) 3048-5955/6353

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