2Q13 and 1H13 Earnings Presentation
Forward-Looking Statements
This presentationcontains forward-lookingstatementsrelating totheprospectsof thebusiness, estim...
2Q13 and 1H13 Highlights
•Consolidated traffic volume increased5.4% to reach 19.9 million vehicle equivalent units in 2Q13...
191.4
236.5
2Q12 2Q13
393.4
496.7
1H12 1H13
23.5%
Adjusted Net Revenue
Breakdown Net Revenue 2Q13 - (%)
Excluding construc...
Toll Roads Segment
2Q13 and 1H13 Results
104.7
112.6
2Q12 2Q13
222.2
242.4
1H12 1H13
18.9
19.9
2Q12 2Q13
40.2
41.9
1H12 1H13
5.4%
7.6%
Toll Roads Segment – 2Q13 an...
Port Segment
2Q13 and 1H13 Results
43.4
57.8
2Q12 2Q13
92.0
115.6
1H12 1H13
280.5
333.3
1H12 1H13
140.8
181.3
2Q12 2Q13
28.8%
33.2%
Port Segment – 2Q13 and 1...
Energy Generation
2Q13 and 1H13 Results
52.7
62.6
1H12 1H13
27.4
25.3
2Q12 2Q13
296.2 294.6
1H12 1H13
148.1 148.1
2Q12 2Q13
-0.5%
-7.7%
Energy Generation – 2Q13 a...
Cabotage
2Q13 and 1H13 Results
10.0
12.2
2Q12 2Q13
16.2
21.4
1H12 1H13
21.7% 31.2%
Cabotage – 2Q13 and 1H13
Container Handling - TEUs (‘000)
Corresponds ...
Airport Segment
2Q13 and 1H13 Results
24.3 19.5
46.1
35.3
40.6 44.1
79.2
83.2
1.8 1.6
4.0
3.6
2Q12 2Q13 1H12 1H13
Other
Import.
Exp.
1,326 1,304
2,608 2,62816.0...
Consolidated Performance
2Q13 and 1H13 Results
88.8
103.0
2Q12 2Q13
198.7
252.2
1H12 1H13
16.0%
Adjusted EBITDA
EBITDA per Segment (1) 2Q13 - (R$ million)Adjusted EBITDA...
Financial Income
17
(R$ million ) 2Q13 2Q12 D 1H13 1H12 D
Financial Income -65,0 -46,0 41,2% -132,8 -80,2 65,7%
· Financia...
Net Debt
Leverage: Net Debt(1)/EBITDA of the segments with positive EBITDA
18
(1) NetDebtin 06/30/13.
(2) LTM Adjusted EBI...
Capex
19
ViracoposConstruction
Fillingof the Rio Canoas Reservoir
ViracoposConstruction
2Q13 Capex
1H13 Capex 5.6%
Concer
...
IR Team
Sandro Lima – Investor Relations Officer and CFO
Marcos Pereira
Luana Mota
Melina Rodrigues
Contact: ri@ triunfo.c...
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Apresentacao resultados 2_t13_eng

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Apresentacao resultados 2_t13_eng

  1. 1. 2Q13 and 1H13 Earnings Presentation
  2. 2. Forward-Looking Statements This presentationcontains forward-lookingstatementsrelating totheprospectsof thebusiness, estimatesforoperating and financial results, and thoserelatedtogrowthprospectsof TPI – TriunfoParticipações e InvestimentosS.A. Thesearemerelyprojectionsand, as such, arebased exclusively on theexpectations of theCompany’s managementconcerning the futureof thebusiness. Such forward- looking statementsdepend substantially on changesin marketconditions, theperformanceof theBrazilian economy, thesector and the international markets, and are, therefore, subjecttochangeswithoutprevious notice. The consolidated financial information is presented in proportion to the participation of Triunfo in each subsidiary. The operational numbers correspond to 100% of the business. The information includes the performance of the subsidiaries Rio Verde and Rio Canoas. Since January1, 2013, with thecompulsoryapplication of IFRS 10 and 11, theCompany ceased toproportionally consolidate its subsidiaries controlled jointly (Concer, Maestra, Portonave and AeroportosBrasil Viracopos) in thefinancial statements. Concer and Maestrahave since been consolidated 100% and theresultsof Portonave and AeroportosBrasil Viracopos were recordedunder theitem “equityincome”. This changedid notaffecttheconsolidated netincome of theCompany, butaltereda fewitemsin thebalance sheet, income statementand thecash flowstatement, as well as financial indicators such asEBITDA and EBITDA Margin. 2
  3. 3. 2Q13 and 1H13 Highlights •Consolidated traffic volume increased5.4% to reach 19.9 million vehicle equivalent units in 2Q13 and 4.3%in 1H13. •Adjusted net revenue was R$236.5 million (+23.5%) in 2Q13 and R$496.7million (+26.3%) in 1H13. •ContainerhandlingatPortonave reached181,300 TEUs in 2Q13, up 28.8% in the quarter and 18.8%in 1H13. •Assured energy sold totaled148.1 GWh in 2Q13 and294.6GWh in1H13. •Cabotage volume totaled12,200 TEUs in 2Q13 and 21,400TEUs in 1H13. •Viracopos Airport handled2.3 million passengers and 65,200 tons of cargo. •Adjusted EBITDA totaledR$103.0 million (+16.0%) in the quarter, with margin of 43.6%.AdjustedEBITDAin 1H13was R$252.2million (+27.0%), with margin of 50.8%. 3
  4. 4. 191.4 236.5 2Q12 2Q13 393.4 496.7 1H12 1H13 23.5% Adjusted Net Revenue Breakdown Net Revenue 2Q13 - (%) Excluding construction revenue Adjusted Net Revenue - (R$ million) Excluding construction revenue 4 26.3% 48% 24% 11% 9% 8% TollRoads Port Energy Cabotage Airport
  5. 5. Toll Roads Segment 2Q13 and 1H13 Results
  6. 6. 104.7 112.6 2Q12 2Q13 222.2 242.4 1H12 1H13 18.9 19.9 2Q12 2Q13 40.2 41.9 1H12 1H13 5.4% 7.6% Toll Roads Segment – 2Q13 and 1H13 Traffic of Equivalent Vehicles - (million) Corresponds to 100% of the business Net Revenue (1) – (R$ million) Corresponds to the Triunfo Stake in the business (1) Excluding ConstructionRevenue. 6 4.3% 9.1%
  7. 7. Port Segment 2Q13 and 1H13 Results
  8. 8. 43.4 57.8 2Q12 2Q13 92.0 115.6 1H12 1H13 280.5 333.3 1H12 1H13 140.8 181.3 2Q12 2Q13 28.8% 33.2% Port Segment – 2Q13 and 1H13 Container Handling - TEUs (‘000) Corresponds to 100% of the business Net Revenue - (R$ million) Corresponds to the Triunfo Stake in the business 8 18.8% 25.6%
  9. 9. Energy Generation 2Q13 and 1H13 Results
  10. 10. 52.7 62.6 1H12 1H13 27.4 25.3 2Q12 2Q13 296.2 294.6 1H12 1H13 148.1 148.1 2Q12 2Q13 -0.5% -7.7% Energy Generation – 2Q13 and 1H13 Assured Energy Sold - (‘000 Mwh) Net Revenue - (R$ million) 18.9% 10
  11. 11. Cabotage 2Q13 and 1H13 Results
  12. 12. 10.0 12.2 2Q12 2Q13 16.2 21.4 1H12 1H13 21.7% 31.2% Cabotage – 2Q13 and 1H13 Container Handling - TEUs (‘000) Corresponds to 100% of the business. Net Revenue - (R$ million) Corresponds to the Triunfo Stake in the business. 12 32.1% 42.1% 15.9 20.9 2Q12 2Q13 26.5 37.6 1H12 1H13
  13. 13. Airport Segment 2Q13 and 1H13 Results
  14. 14. 24.3 19.5 46.1 35.3 40.6 44.1 79.2 83.2 1.8 1.6 4.0 3.6 2Q12 2Q13 1H12 1H13 Other Import. Exp. 1,326 1,304 2,608 2,62816.0 9.0 40.0 21.0 802 959 1,629 1,892 2Q12 2Q13 1H12 1H13 Connection International Domestic Passengers - (million) Corresponds to 100% of the business. 6.2% -2.3% Cargo - (million) Corresponds to 100% of the business. Airport Segment – 2Q13 and 1H13 66.7 Net Revenue - (R$ million) Excluding construction revenue 5.9% 14 65.2 129.3 122.2 -5.6% 6.0% 2.144 2.272 4.277 4.541 18.7 19.8 38.5 2Q12 2Q13 1H13 24% 66% 10% Passageiros Carga Comercial 2Q13 Breakdown Gross Revenue
  15. 15. Consolidated Performance 2Q13 and 1H13 Results
  16. 16. 88.8 103.0 2Q12 2Q13 198.7 252.2 1H12 1H13 16.0% Adjusted EBITDA EBITDA per Segment (1) 2Q13 - (R$ million)Adjusted EBITDA (1) - (R$ million) Adjusted EBITDA refers to earnings before interest, taxes, depreciation and amortization, adjusted for the Provision for Maintenance – IAS 37 (a non-cash item included in Operating Costs), non-recurring expenses, minority interestand equity income. To calculate EBITDA margin, we used Adjusted Net Revenue (excluding construction revenue, which is an accountingeffectwith no cashimpact) as the denominator. 16 74.8 26.6 18.2 6.6 -13.4 -4.1 103.0 TollRoad Port Energy Airport Cabotage Holding EBITDA 2Q13 27.0%
  17. 17. Financial Income 17 (R$ million ) 2Q13 2Q12 D 1H13 1H12 D Financial Income -65,0 -46,0 41,2% -132,8 -80,2 65,7% · FinancialRevenue 4,9 9,0 -45,8% 8,2 11,6 -29,8% · FinancialExpenses -68,4 -43,4 57,5% -140,1 -83,5 67,7% · ExchangeRateVariation -1,5 -11,6 -87,1% -0,9 -8,3 -88,9%
  18. 18. Net Debt Leverage: Net Debt(1)/EBITDA of the segments with positive EBITDA 18 (1) NetDebtin 06/30/13. (2) LTM Adjusted EBITDA (R$ million) ENERGY TOLL ROAD PORT AIRPORT PARENT COMPANY CABOTAGE TOTAL 2013 11 129 23 - 17 58 239 2014 49 49 24 - 4 34 160 2015 52 71 34 - 77 29 263 2016 44 102 32 10 293 24 505 2017 49 28 22 10 274 24 406 After 2018 558 38 - 143 50 6 795 Gross Debt 763 417 135 163 716 174 2.368 Net Debt 741 392 118 50 604 172 2.078 9.7 x 1.1 x 1.2 x 4.3 x Energy TollRoads Port Airport
  19. 19. Capex 19 ViracoposConstruction Fillingof the Rio Canoas Reservoir ViracoposConstruction 2Q13 Capex 1H13 Capex 5.6% Concer 4.6% Concepa 3.8% Econorte 3.8% Portonave 1.1% Portonaus 0.1% Cabotagem 53.0% Rio Canoas 0.0% Rio Verde 25.8% Aeroportos Brasil Viracopos 2.1% Holding 5.6% Concer 4.4% Concepa 4.2% Econorte 6.1% Portonave 1.1% Portonaus 0.0% Cabotagem 43.0% Rio Canoas 0.1% Rio Verde 32.7% Aeroportos Brasil Viracopos 2.8% Parent Company
  20. 20. IR Team Sandro Lima – Investor Relations Officer and CFO Marcos Pereira Luana Mota Melina Rodrigues Contact: ri@ triunfo.com +55 11 2169 3999 Rua Olimpíadas, 205 - Conjunto142/143 Vila Olímpia- São Paulo - CEP 04551-000 20

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