Disclaimer This presentation contains certain statements that are neither reported financial results or other historical i...
São Paulo, October 21, 2011 Infrastructrure: It’s from here that Brazil will arrive there......
Agenda Introduction and Welcome  | Renato Vale Opportunities in Rio de Janeiro  | Luiz Fernando de Souza Pezão - Vice-Gove...
Introduction and Welcome . Renato Vale 1
With Simple Assumptions… Looking back... * Without SPVias and ViaQuatro EBITDA 2010EFY Market Consensus R$ 2,350 mi EBITDA...
* Without SPVias and ViaQuatro R$ 3.0  bi EBITDA 2011E With Simple Assumptions… Looking back... EBITDA 2011E Market Consen...
...  and what’s more, with new opportunities... With Simple Assumptions… Looking back... Urban Mobility Highway concession...
Aeroportos Qualified growth bass People  Sustainability + R$ 350 M  ViaQuatro + R$ 150 M  ...  and what’s more, with new o...
People Leadership Development Program (PDL) Received award as largest international association of highway concessionaires...
Reconhecimento IBTTA AWARDS 2011 Professional Training Program – Trainees Program 2011-2012 More than 6,500 registrations ...
Sustainability Insertion of the Sustainability subject into the company’s strategy <ul><li>Strategy and Sustainability sub...
CCR Investment  with all the Laws of Incentive . CCR Investment per year  2003 970 R$ (million) R$ Thousand 2004 1.695 200...
CCR Private Social Investment  without Incentive Laws . CCR Investment per year (without incentive)  Investments reached m...
CCR Private Social Investment Consolidated – with and without Incentive Laws CCR Investment per year (Consolidated) Compan...
Opportunities in Rio de Janeiro. Luiz Fernando de Souza Pezão –  Vice-Governor of RJ 2
Ground Transport Infrastructure in Brazil. Bernardo Figueiredo – ANTT General Manager 3
Questions and Answers
Coffee Break 4
History of  Traffic and Trends Marcus Vinícius 4
Comparable Monthly Traffic Growth YoY  - % Jan/10 Fev/10 Mar/10 Abr/10 Mai/10 Jun/10 Jul/10 Ago/10 Set/10 Out/10 Nov/10 De...
Comparable Monthly Traffic 1.5 X GDP
Amounts in % Comparable Monthly Traffic
Accomplishments and Opportunities Italo Roppa 5
CCR AutoBAn Anhanguera Complex
AutoBAn Anhanguera Complex CCR AutoBAn <ul><li>Marginal Tietê Incorporation </li></ul><ul><li>Total investment : R$ 209 mi...
AutoBAn Anhanguera Complex
AutoBAn Anhanguera Complex
AutoBAn Anhanguera Complex Merge of km 12+000 - Av. do Anastácio
AutoBAn Anhanguera Complex Improvements of Banks of the Tietê under the Atílio Fontana Bridge
AutoBAn Anhanguera Complex Phase 1 Anhangüera Complex – Finished Construction
CCR ViaOeste CLOVERLEAF PROJECT - JANDIRA CLOVERLEAF
CCR ViaOeste Accomplishments CCR ViaOeste <ul><li>New investments seeking improvements in traffic flow, with addition of s...
CCR ViaOeste Cloverleaf Project Jandira Cloverleaf – Approved Plan
CCR ViaOeste Cloverleaf Project
CCR ViaOeste Cloverleaf Project
New investments added Investments Appended to Contract  (base July/2009) R$ 125 million Total investment – R$  185 million...
CCR ViaOeste Project Cloverleaf
Rebalancing compensated by retaining concession award. CCR ViaOeste Project Cloverleaf
Opportunities under Consideration
CCR ViaOeste Projects under Consideration Detail of Arrival from Raposo Tavares into the City of São Paulo Today Rodovia C...
CCR ViaOeste Projects under Consideration. Raposo Project Video
CCR AutoBAn Projects under Consideration Phase 1 Phase 2 Phase 3 R$ 185 million  R$ 155 million  R$ 170 million  Total Inv...
 
ViaQuatro Projects under Consideration – Taboão da Serra Operation of 6 Stations between Butantã and Luz – in service Oper...
Building YELLOW LINE 4 - Line 4 Extension  Taboão da Serra
Line 4 Extension  Taboão da Serra <ul><li>3.0 km of Connecting Tunnel to Taboão da Serra </li></ul><ul><li>02 additional s...
ViaQuatro Projects under Consideration - Taboão da Serra
Transportation Network Map Metropolitanos de São Paulo.
Line 4 – Yellow Phase 3 Characteristics of project. Taboão da Serra Jardim Jussara Vila Sônia São Paulo- Morumbi Butantã P...
Accomplishment s and Opportunities José Bráz 5
CCR NovaDutra
Current Portfolio Accomplishments. CCR NovaDutra <ul><li>250 million for aproximately 20 km of service roads in São Paulo ...
Ser Service road construction work/Work underway S. João do Meriti/Nova Iguaçu Accomplishments CCR NovaDutra
s Pindamonhanghaba Cloverleaf CCR NovaDutra Accomplishments
Baixada Fluminense Service Roads CCR NovaDutra Accomplishments
Rio de Janeiro Service Roads CCR NovaDutra Accomplishments
São José dos Campos Service Roads CCR NovaDutra Accomplishments
 
 
Current Status Current Portfolio Opportunities under Consideration. <ul><li>Contracting of Executive Projects balanced in ...
BR 101 / ES / BA  Key Data. Purpose <ul><li>BR 101 / ES / BA Concession, Divisa ES / RJ Segment – Junction BA-698; </li></...
Multiple Opportunities for Investment. Consolidation (Secondary Market) Urban Mobility Highway Concessions in various Stat...
Múltiplas Oportunidades de Investimento. Alguns Projetos em Negociação  Consolidation (Secondary Market)
Multiple Opportunities for Investment. Consolidation (Secondary Market) Urban Mobility Highway Concessions in various Stat...
Multiple Opportunities for Investment. BR 101 – Bidding in Nov/11 BR-116/BR-040/BR-381(MG) in 2012 Federal Concession Prog...
Multiple Opportunities for Investment. VLT – Porto Maravilha Subways in State Capitals | World Cup Urban Mobility
BR 101 / ES / BA  Key Data. Purpose <ul><li>BR 101 / ES / BA Concession, Divisa ES / RJ Segment – Junction BA-698; </li></...
BR 101 / ES / BA  Key Data. Procedure Data from ANTT viability study (base Jan / 2009) <ul><li>BOVESPA  Auction, with inve...
BR 101 / ES / BA  Key Data. BR- 040 (DF/GO/MG) Juiz de Fora - Brasília  BR- 116 (MG) - Além Paraíba - Divisa MG / BA BR- 1...
Multiple Opportunities for Investment. Consolidation (Secondary Market) Urban Mobility Highway Concessions in various Stat...
Multiple Opportunities for Investment. VLT – Porto Maravilha Subways in State Capitals | World Cup Urban Mobility
VLT Network Rio de Janeiro.
VLT Network  Rio de Janeiro. Network at a Glance Extension Single Line  28 km Nº de Stations and  Stops 42 Fleet 32 Averag...
VLT Network  Rio de Janeiro. VLT Video
Transolimpica
Segment between Avenida Brasil and Avenida Salvador Allende, in city of RJ Transolimpica Key Data. Investment <ul><li>Bidd...
Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) ...
Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) ...
Multiple Opportunities for Investment.
Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) ...
Multiple Opportunities for Investment. Line 06 - Orange
Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) ...
Multiple Opportunities for Investment. Line 17 – Gold – Jabaquara - Morumbi
Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) ...
Multiple Opportunities for Investment. Line 02 – Green – Vila Prudente – Cidade Tiradentes
Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) ...
Multiple Opportunities for Investment.
Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) ...
Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) ...
Multiple Opportunities for Investment.
Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) ...
Multiple Opportunities for Investment.
Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) ...
Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) ...
Multiple Opportunities for Investment.
Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) ...
Jundiaí Train - São Paulo - Jundiaí  Multiple Opportunities for Investment.
Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) ...
Multiple Opportunities for Investment. ABC - Express
Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) ...
Multiple Opportunities for Investment.
PAC Urban Mobility. Federal Government announces start of October investments of R$ 30 billion within Big Cities Urban Mob...
Multiple Opportunities for Investment. Consolidation (Secondary Market) Urban Mobility Highway Concessions in various Stat...
Multiple Opportunities for Investment. Program for: São Paulo/Minas Gerais/Goiás/ Santa Catarina/R.G.Sul/etc. Highway Conc...
Historical Overview of Results Projection Oct-Dec/11 Base de Tags (#Thousand) CAGR 01-11 43.6% Net Revenues (R$ Thousand) ...
Busca de Parceria
STP contracted advisor to set up process. Seeking partnerships Objective: seek partner to add value and chiefly to bring e...
 
Multiple Opportunities for Investment. Considering only some of the expected opportunities,  the pipeline for the next few...
Airports Leonardo Vianna 6
CCR Material Fact
Studies and Acquisitions
Quito Airport  <ul><li>Overview of Mariscal Sucre International Airport, “MSIA,” currently the  airport of Quito (2010 dat...
San Jose Airport <ul><li>The International Airport of San José (Juan Santamaría) is located in the capital of Costa Rica, ...
Curaçao Airport <ul><li>Overview of airport: </li></ul><ul><li>1.6 million passengers per year; </li></ul><ul><li>25,900 a...
New Airport  of São Paulo - NASP <ul><li>It will be located between the Anhanguera and Bandeirantes highways, 16km from th...
Bidding for Airports in Brazil Airports of Cumbica, Viracopos, Brasília
About the Auction Purpose <ul><li>It is only possible to win one of the three airports; </li></ul><ul><li>Infraero will ha...
Key Characteristics: About the Auction Source: Presentation by Civil Aviation Secretariat Airports Total Passengers Estima...
Overview of New Business and Qualified Growth. Financial Strategy .  Arthur Piotto 6
Investment Capacity Financial Strategy Maximum Indebtedness of 3.0x Net Debt / EBITDA Commitment to pay at least 50% of Ne...
Indebtedness
Gross Indebtedness 2Q11  R$MM The leveraging indexes incorporate investments in portfolio expansion ViaQuatro, RodoAnel, C...
 
Gross Indebtedness 2Q11  R$MM Debt by Index - 2Q11 Evolution of Average Consolidated Cost per Year * Em R$ nominais
Estimated impact of fall in interest rates in DRE Reduction of Selic (CDI)  Simulation Selic (CDI) by year Savings in Fina...
Investment Capacity
Investment Capacity Source: Industry analysis The generation of cash in the current portfolio offers sufficient financial ...
Dividends
Dividends We reiterate our commitment to pay out at least 50% of net profits in dividends. Dividends Received  <ul><li>To ...
Indebtedness Adequate investment capacity Agressive dividend payment practice
Closing  7
CCR  In the Global Context
CCR  In  Brazil Bloomberg: 19/10/2011 CCR price quote: R$ 47.90 Local currency change Local exchange rate change against t...
<ul><li>Clear strategy, defined and public, profitability first, after expansion of business; </li></ul><ul><li>Base scena...
Questions and Answers 8
Lunch 9
São Paulo, October 21, 2011 Infrastructure: It’s from here that Brazil will arrive there......
Upcoming SlideShare
Loading in …5
×

Disclaimer 1

542 views

Published on

Published in: Business, Economy & Finance
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
542
On SlideShare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
4
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide
  • Aguardo de atualizations de números CCR
  • Disclaimer 1

    1. 1. Disclaimer 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
    2. 2. São Paulo, October 21, 2011 Infrastructrure: It’s from here that Brazil will arrive there......
    3. 3. Agenda Introduction and Welcome | Renato Vale Opportunities in Rio de Janeiro | Luiz Fernando de Souza Pezão - Vice-Governor of RJ Registration and Breakfast 8:00 8:30 1 8:45 2 9:45 3 10:40 4 Ground Transport Infrastructure in Brazil | Bernardo Figueiredo - Diretor Geral of the ANTT Coffee Break 11:10 5 Opportunities and Accomplishents of Current Business | Italo Roppa and José Bráz Overview of New Business and Qualified Growth - New opportunities | Leonardo Vianna -Financial Strategy | Arthur Piotto 11:55 6 13:25 7 13:35 8 Conclusions and Closing Message Questions and Answers Lunch 13:50 9
    4. 4. Introduction and Welcome . Renato Vale 1
    5. 5. With Simple Assumptions… Looking back... * Without SPVias and ViaQuatro EBITDA 2010EFY Market Consensus R$ 2,350 mi EBITDA 2009 R$ 1,960 mi +20% Ebitda 1.5x PIB de 5% = +7.5% Traffic per year Growth of Traffic 5% per year Expected Inflation Growth  40% 2% Gain of Margin Operational Leveraging EBITDA 2013 E* R$ 3,3 bi R$ 3.5 bi
    6. 6. * Without SPVias and ViaQuatro R$ 3.0 bi EBITDA 2011E With Simple Assumptions… Looking back... EBITDA 2011E Market Consensus R$ 2,350 mi EBITDA 2009 R$ 1,960 mi +20% Ebitda We have the potential to add up to 60% EBITDA by 2013 without any new project or acquisition + R$ 350 M SPVias + R$ 150 M ViaQuatro EBITDA 2013E R$ 3.8 bi EBITDA 2013 E* R$ 3.3 bi R$ 3.5 bi
    7. 7. ... and what’s more, with new opportunities... With Simple Assumptions… Looking back... Urban Mobility Highway concessions World Cup / Olympics EBITDA 201E Market Consensus R$ 2,350 mi EBITDA 2009 R$ 1,960 mi +20% Ebitda We have the potential to add up to 60% EBITDA by 2013 without any new project or acquisition + R$ 350 M SPVias + R$ 150 M ViaQuatro EBITDA 2013 FY R$ 3.8 bi EBITDA 2013 FY* R$ 3,3 bi R$ 3.5 bi EBITDA 2013E* R$ 3.0 bi
    8. 8. Aeroportos Qualified growth bass People Sustainability + R$ 350 M ViaQuatro + R$ 150 M ... and what’s more, with new opportunities... With Simple Assumptions… Looking back... EBITDA 201E Market Consensus R$ 2,350 mi EBITDA 2009 R$ 1,960 mi +20% Ebitda We have the potential to add up to 60% EBITDA by 2013 without any new project or acquisition SPVias EBITDA 2013 FY R$ 3.8 bi EBITDA 2013 FY* R$ 3,3 bi R$ 3.5 bi EBITDA 2013E* R$ 3.0 bi Urban Mobility Highway concessions World Cup / Olympics
    9. 9. People Leadership Development Program (PDL) Received award as largest international association of highway concessionaires. Its main objective is to develop leaders for the competencies of the CCR Group, preparing them for the challenges of qualified growth, ensuring a balance of interests and agreed upon results, preserving business security. 215 participants With a large presence of more than 95% of the audience. More than 320 hours of training Workshops on Corporate Governance, Organization and People, Corporate Management: Finance, Business Administration: Planning and Oversight.
    10. 10. Reconhecimento IBTTA AWARDS 2011 Professional Training Program – Trainees Program 2011-2012 More than 6,500 registrations to hire 22 new employees. Areas of training: Business Administration, Accounting Sciences, Computing Economics, Engineering and Systems Analysis. <ul><li>Objective : </li></ul><ul><li>Identify young recent graduates with high development potential to work in the company’s business units; </li></ul><ul><li>5 editions of the program completed since 2006; </li></ul><ul><li>More than 15 thousand applications; </li></ul><ul><li>65 professionals already taken on as staff members </li></ul>
    11. 11. Sustainability Insertion of the Sustainability subject into the company’s strategy <ul><li>Strategy and Sustainability subject; </li></ul><ul><li>Detailed inventory of emissions 2010; </li></ul><ul><li>Mapping and waste management; </li></ul><ul><li>Target: accident reduction; </li></ul><ul><li>Target: return to the Business Sustainability Index </li></ul>Implementation, dissemination and promotion of the 10 principles of the Global Compact Joining the Global Compact 2010 Annual and Sustainability Report <ul><li>In Portuguese and English, published June 30; </li></ul><ul><li>Following GRI guidelines; </li></ul><ul><li>Reporting the IBASE social balance sheet </li></ul><ul><li>Simplfied format for employees, opinionmakers, fleet owners, etc. </li></ul>
    12. 12. CCR Investment with all the Laws of Incentive . CCR Investment per year 2003 970 R$ (million) R$ Thousand 2004 1.695 2005 3.771 2006 +ISS 3.654 2007 + Law of sport 5.166 2008 + FUMCAD 7.519 2009 9.491 2010 14.181 CAGR 46.7% a.a.
    13. 13. CCR Private Social Investment without Incentive Laws . CCR Investment per year (without incentive) Investments reached more than R$ 17 million in 4 years R$ (thousand) 2007 + 2.420 2008 4.676 2009 5.144 2010 5.658
    14. 14. CCR Private Social Investment Consolidated – with and without Incentive Laws CCR Investment per year (Consolidated) Company’s social investment reachedc more than R$ 64 million in 8 years
    15. 15. Opportunities in Rio de Janeiro. Luiz Fernando de Souza Pezão – Vice-Governor of RJ 2
    16. 16. Ground Transport Infrastructure in Brazil. Bernardo Figueiredo – ANTT General Manager 3
    17. 17. Questions and Answers
    18. 18. Coffee Break 4
    19. 19. History of Traffic and Trends Marcus Vinícius 4
    20. 20. Comparable Monthly Traffic Growth YoY - % Jan/10 Fev/10 Mar/10 Abr/10 Mai/10 Jun/10 Jul/10 Ago/10 Set/10 Out/10 Nov/10 Dez/10 Jan/11 Fev/11 Mar/11 Abr/11 Mai/11 Jun/11 Jul/11 Ago/11 Set/11 Jan/09 Fev/09 Mar/09 Abr/09 Mai/09 Jun/09 Jul/09 Ago/09 Set/09 Out/09 Nov/09 Dez/09 13.2% 15.2% 20,5% 19.6% 11.2% 16.0% 19.4% 22.0% 17.3% 13.9% 23.5% 24.5% 27.2% 30,6% 28.3% 18.4% 11.7% 10,5% 14.0% 10,8% 9.1% 14.6% 16.3% 21.6% 24.5% 26.1% 12.1% 12.4% 22.4% 23.3% 22.2% 20,1% 20,0%
    21. 21. Comparable Monthly Traffic 1.5 X GDP
    22. 22. Amounts in % Comparable Monthly Traffic
    23. 23. Accomplishments and Opportunities Italo Roppa 5
    24. 24. CCR AutoBAn Anhanguera Complex
    25. 25. AutoBAn Anhanguera Complex CCR AutoBAn <ul><li>Marginal Tietê Incorporation </li></ul><ul><li>Total investment : R$ 209 million; </li></ul><ul><li>Set of construction projects that reorganized traffic, improving flow and safety of movement, reducing travel time; </li></ul>At the request of ARTESP, the 1st Phase of the Anhanguera Complex was supplemented with additional investments to the contract in the amount of R$ 99 million (base July/2010). The Rebalancing was carried out through retention of the fixed and variable grant, which was started in September /2010.
    26. 26. AutoBAn Anhanguera Complex
    27. 27. AutoBAn Anhanguera Complex
    28. 28. AutoBAn Anhanguera Complex Merge of km 12+000 - Av. do Anastácio
    29. 29. AutoBAn Anhanguera Complex Improvements of Banks of the Tietê under the Atílio Fontana Bridge
    30. 30. AutoBAn Anhanguera Complex Phase 1 Anhangüera Complex – Finished Construction
    31. 31. CCR ViaOeste CLOVERLEAF PROJECT - JANDIRA CLOVERLEAF
    32. 32. CCR ViaOeste Accomplishments CCR ViaOeste <ul><li>New investments seeking improvements in traffic flow, with addition of segment, balanced by Internal Rate of Return (TIR) of contract. </li></ul><ul><li>Expansion of Capacity at arrival of Castello at Marginal Tietê and Marginal Pinheiros, with incorporation of initial segments; </li></ul><ul><li>Expansion of Capacity at Jandira/Itapevi Cloverleaf </li></ul><ul><li>Reordering of flows between express route and marginal route </li></ul>A total of R$ 185 million (base July/2009) in additional investments to the contract were made. The Rebalancing was carried out through retention of fixed and variable grant, which started in December/2010. Cloverleaf and Marg. Tietê Approved Plan
    33. 33. CCR ViaOeste Cloverleaf Project Jandira Cloverleaf – Approved Plan
    34. 34. CCR ViaOeste Cloverleaf Project
    35. 35. CCR ViaOeste Cloverleaf Project
    36. 36. New investments added Investments Appended to Contract (base July/2009) R$ 125 million Total investment – R$ 185 million R$ 48 million R$ 12 million Reconfiguration of Cloverleaf Complex (Stage 1): Cloverleaf for Access to Jandira and Itapevi Improvements in Marginal do Tietê
    37. 37. CCR ViaOeste Project Cloverleaf
    38. 38. Rebalancing compensated by retaining concession award. CCR ViaOeste Project Cloverleaf
    39. 39. Opportunities under Consideration
    40. 40. CCR ViaOeste Projects under Consideration Detail of Arrival from Raposo Tavares into the City of São Paulo Today Rodovia Castello Branco Rodovia Raposo Tavares
    41. 41. CCR ViaOeste Projects under Consideration. Raposo Project Video
    42. 42. CCR AutoBAn Projects under Consideration Phase 1 Phase 2 Phase 3 R$ 185 million R$ 155 million R$ 170 million Total Investment – R$ 510 million Jundiai Project Nova Jundiaí SP-330 km 56 to 62
    43. 44. ViaQuatro Projects under Consideration – Taboão da Serra Operation of 6 Stations between Butantã and Luz – in service Operation of 11 Stations between Vila Sonia and Luz – start of implementation – scheduled 2014 Operation of extension from Vila Sonia to Taboão da Serra: by bus or rail (extension of tunnel with two stations) – development of conceptual plan 480,000 Passengers per business day October 20 Implementation of YELLOW LINE 4
    44. 45. Building YELLOW LINE 4 - Line 4 Extension Taboão da Serra
    45. 46. Line 4 Extension Taboão da Serra <ul><li>3.0 km of Connecting Tunnel to Taboão da Serra </li></ul><ul><li>02 additional stations: Jardim Jussara and Taboão da Serra </li></ul><ul><li>Purchase of Rolling Stock + additional Systems adicionais </li></ul><ul><li>Civil Construction </li></ul><ul><li>Fixed Systems </li></ul><ul><li>Rolling Stock </li></ul><ul><li>Signal Systems </li></ul><ul><li>Via Financial Offering of Concession Contract </li></ul><ul><ul><li>R$ 1.635 million </li></ul></ul>Extension by rail from Vila Sonia to Taboão da Serra
    46. 47. ViaQuatro Projects under Consideration - Taboão da Serra
    47. 48. Transportation Network Map Metropolitanos de São Paulo.
    48. 49. Line 4 – Yellow Phase 3 Characteristics of project. Taboão da Serra Jardim Jussara Vila Sônia São Paulo- Morumbi Butantã Pinheiros Faria Lima Fradique Coutinho Oscar Freire Paulista Higienópolis- Mackenzie República Luz Pátio Vila Sônia
    49. 50. Accomplishment s and Opportunities José Bráz 5
    50. 51. CCR NovaDutra
    51. 52. Current Portfolio Accomplishments. CCR NovaDutra <ul><li>250 million for aproximately 20 km of service roads in São Paulo and Rio de Janeiro balanced in the contract flow through Bidirectionals, among others; </li></ul><ul><li>110 million for aproximately 10 km of service roads in São José dos Campos, balanced in the the contract’s cash flow, among others. </li></ul>Contractual Amendments Signed by the Concessionaire in 2010 and 2011:
    52. 53. Ser Service road construction work/Work underway S. João do Meriti/Nova Iguaçu Accomplishments CCR NovaDutra
    53. 54. s Pindamonhanghaba Cloverleaf CCR NovaDutra Accomplishments
    54. 55. Baixada Fluminense Service Roads CCR NovaDutra Accomplishments
    55. 56. Rio de Janeiro Service Roads CCR NovaDutra Accomplishments
    56. 57. São José dos Campos Service Roads CCR NovaDutra Accomplishments
    57. 60. Current Status Current Portfolio Opportunities under Consideration. <ul><li>Contracting of Executive Projects balanced in the Contract Flow; </li></ul><ul><li>ANTT Resolution nº 3651 of April 7, 2011 – Marginal Cash Flow; </li></ul><ul><li>Recommendation of SEFID – TCU. </li></ul><ul><li>Public Hearing to determine Internal Rate of Return (TIR) of Marginal Cash Flow; </li></ul>R$ 1.5 bi CCR NovaDutra New ascent of the Serra das Araras and Service Roads in São Paulo, Rio and São José. R$ 205M CCR Ponte Direct link of Bridge with the Red Line, with extension of approximately 2.3 Km.
    58. 61. BR 101 / ES / BA Key Data. Purpose <ul><li>BR 101 / ES / BA Concession, Divisa ES / RJ Segment – Junction BA-698; </li></ul><ul><li>Extension of 475.9 km - Period of 25 years. </li></ul>
    59. 62. Multiple Opportunities for Investment. Consolidation (Secondary Market) Urban Mobility Highway Concessions in various States Federal Concession Program Related Business
    60. 63. Múltiplas Oportunidades de Investimento. Alguns Projetos em Negociação Consolidation (Secondary Market)
    61. 64. Multiple Opportunities for Investment. Consolidation (Secondary Market) Urban Mobility Highway Concessions in various States Federal Concession Program Related Business
    62. 65. Multiple Opportunities for Investment. BR 101 – Bidding in Nov/11 BR-116/BR-040/BR-381(MG) in 2012 Federal Concession Program
    63. 66. Multiple Opportunities for Investment. VLT – Porto Maravilha Subways in State Capitals | World Cup Urban Mobility
    64. 67. BR 101 / ES / BA Key Data. Purpose <ul><li>BR 101 / ES / BA Concession, Divisa ES / RJ Segment – Junction BA-698; </li></ul><ul><li>Extension of 475.9 km - Period of 25 years. </li></ul>
    65. 68. BR 101 / ES / BA Key Data. Procedure Data from ANTT viability study (base Jan / 2009) <ul><li>BOVESPA Auction, with inversion of phases – Projected Date: 17/11/2011; </li></ul><ul><li>Judgment Criterion: lowest rate per kilometer; </li></ul><ul><li>Maximum rate per kilometer = R$ 0.06237 (base January / 2009). </li></ul><ul><li>Estimated value of Contract: R$ 6,928,359,033.92; </li></ul><ul><li>Investment: R$ 2.293.000.000,00; </li></ul><ul><li>Toll Plazas : 7 units.; </li></ul><ul><li>Duplications: the segment will be completely duplicated by the 23rd year of the concession. </li></ul>
    66. 69. BR 101 / ES / BA Key Data. BR- 040 (DF/GO/MG) Juiz de Fora - Brasília BR- 116 (MG) - Além Paraíba - Divisa MG / BA BR- 101 (ES) / Mucuri (BA) Extension (km) Total Investment 936.8 R$ 3.3 bi Extension (km) Total Investment 817.0 R$ 4.2 bi Extension (km) Total Investment 301.0 R$ 2.5 bi
    67. 70. Multiple Opportunities for Investment. Consolidation (Secondary Market) Urban Mobility Highway Concessions in various States Federal Concession Program Related Business
    68. 71. Multiple Opportunities for Investment. VLT – Porto Maravilha Subways in State Capitals | World Cup Urban Mobility
    69. 72. VLT Network Rio de Janeiro.
    70. 73. VLT Network Rio de Janeiro. Network at a Glance Extension Single Line 28 km Nº de Stations and Stops 42 Fleet 32 Average Distance between Stations 400 m Data in 2016 Average daily demand 150,000 Average annual revenue R$ 150 million Total Investment Investment R$1,200 million
    71. 74. VLT Network Rio de Janeiro. VLT Video
    72. 75. Transolimpica
    73. 76. Segment between Avenida Brasil and Avenida Salvador Allende, in city of RJ Transolimpica Key Data. Investment <ul><li>Bidding projection of R$ 1,598,802,304.58 with Subsidies from the PMRJ of R$ 1,177,534,518.12. </li></ul>35-year concession with 4 years at start for implementation of the Route (start projected for 1st half of 2012) Date of Bidding: 09/11/2011 Key Data of Route <ul><li>13 km in length; </li></ul><ul><li>3 lanes for travel in each direction 3.5 m wide, with: </li></ul><ul><li>1 lane reserved for BRT (Bus Rapid Transit) and breakdown lane of 0.60 m </li></ul><ul><li>14 overpasses; </li></ul><ul><li>14 Bridges; </li></ul><ul><li>2 Tunnels: </li></ul><ul><li>Engenho Velho – length 1,318.50 meters; </li></ul><ul><li>Boiúna – length 266.26 meters. </li></ul>
    74. 77. Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) Jabaquara - Morumbi Gold Line 02 (Monorail) Vila Prudente - Cidade Tiradentes Green Line 15 (Monorail) Vila Prudente - Ticoatira Line 20 (Monorail) Lapa - Agua Espraiada Line 06 Orange Jundiaí Train São Paulo - Jundiaí Express ABC Line 14 (Airport Express) Estação Luz - Cumbica Line 13 (Guarulhos Train) Estação Braz –Cecap Bandeirantes Express Campinas - São Paulo -SJC Line 05 Purple
    75. 78. Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) Jabaquara - Morumbi Gold Line 02 (Monorail) Vila Prudente - Cidade Tiradentes Green Line 15 (Monorail) Vila Prudente - Ticoatira Line 20 (Monorail) Lapa - Agua Espraiada Line 06 Orange Jundiaí Train São Paulo - Jundiaí Express ABC Line 14 (Airport Express) Estação Luz - Cumbica Line 13 (Guarulhos Train) Braz –Cecap Station Bandeirantes Express Campinas - São Paulo -SJC Line 05 Purple
    76. 79. Multiple Opportunities for Investment.
    77. 80. Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) Jabaquara - Morumbi Gold Line 02 (Monorail) Vila Prudente - Cidade Tiradentes Green Line 15 (Monorail) Vila Prudente - Ticoatira Line 20 (Monorail) Lapa - Agua Espraiada Line 06 Orange Jundiaí Train São Paulo - Jundiaí Express ABC Line 14 (Airport Express) Estação Luz - Cumbica Line 13 (Guarulhos Train) Estação Braz -Cecap Bandeirantes Express Campinas - São Paulo -SJC Line 05 Purple
    78. 81. Multiple Opportunities for Investment. Line 06 - Orange
    79. 82. Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) Jabaquara - Morumbi Gold Line 02 (Monorail) Vila Prudente - Cidade Tiradentes Green Line 15 (Monorail) Vila Prudente - Ticoatira Line 20 (Monorail) Lapa - Agua Espraiada Line 06 Orange Jundiaí Train São Paulo - Jundiaí Express ABC Line 14 (Airport Express) Estação Luz - Cumbica Line 13 (Guarulhos Train) Estação Braz -Cecap Bandeirantes Express Campinas - São Paulo -SJC Line 05 Purple
    80. 83. Multiple Opportunities for Investment. Line 17 – Gold – Jabaquara - Morumbi
    81. 84. Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) Jabaquara - Morumbi Gold Line 02 (Monorail) Vila Prudente - Cidade Tiradentes Green Line 15 (Monorail) Vila Prudente - Ticoatira Line 20 (Monorail) Lapa - Agua Espraiada Line 06 Orange Jundiaí Train São Paulo - Jundiaí Express ABC Line 14 (Airport Express) Estação Luz - Cumbica Line 13 (Guarulhos Train) Estação Braz -Cecap Bandeirantes Express Campinas - São Paulo -SJC Line 05 Purple
    82. 85. Multiple Opportunities for Investment. Line 02 – Green – Vila Prudente – Cidade Tiradentes
    83. 86. Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) Jabaquara - Morumbi Gold Line 02 (Monorail) Vila Prudente - Cidade Tiradentes Green Line 15 (Monorail) Vila Prudente - Ticoatira Line 20 (Monorail) Lapa - Agua Espraiada Line 06 Orange Jundiaí Train São Paulo - Jundiaí Express ABC Line 14 (Airport Express) Estação Luz - Cumbica Line 13 (Guarulhos Train) Estação Braz -Cecap Bandeirantes Express Campinas - São Paulo -SJC Line 05 Purple
    84. 87. Multiple Opportunities for Investment.
    85. 88. Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) Jabaquara - Morumbi Gold Line 02 (Monorail) Vila Prudente - Cidade Tiradentes Green Line 15 (Monorail) Vila Prudente - Ticoatira Line 06 Orange Jundiaí Train São Paulo - Jundiaí Express ABC Line 14 (Airport Express) Estação Luz - Cumbica Line 13 (Guarulhos Train) Estação Braz -Cecap Bandeirantes Express Campinas - São Paulo -SJC Line 05 Purple
    86. 89. Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) Jabaquara - Morumbi Gold Line 02 (Monorail) Vila Prudente - Cidade Tiradentes Green Line 15 (Monorail) Vila Prudente - Ticoatira Line 20 (Monorail) Lapa - Agua Espraiada Line 06 Orange Jundiaí Train São Paulo - Jundiaí Express ABC Line 14 (Airport Express) Estação Luz - Cumbica Line 13 (Guarulhos Train) Estação Braz -Cecap Bandeirantes Express Campinas - São Paulo -SJC Line 05 Purple
    87. 90. Multiple Opportunities for Investment.
    88. 91. Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) Jabaquara - Morumbi Gold Line 02 (Monorail) Vila Prudente - Cidade Tiradentes Green Line 15 (Monorail) Vila Prudente - Ticoatira Line 20 (Monorail) Lapa - Agua Espraiada Line 06 Orange Jundiaí Train São Paulo - Jundiaí Express ABC Line 14 (Airport Express) Estação Luz - Cumbica Line 13 (Guarulhos Train) Estação Braz -Cecap Bandeirantes Express Campinas - São Paulo -SJC Line 05 Purple
    89. 92. Multiple Opportunities for Investment.
    90. 93. Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) Jabaquara - Morumbi Gold Line 02 (Monorail) Vila Prudente - Cidade Tiradentes Green Line 15 (Monorail) Vila Prudente - Ticoatira Line 06 Orange Jundiaí Train São Paulo - Jundiaí Express ABC Line 14 (Airport Express) Estação Luz - Cumbica Line 13 (Guarulhos Train) Estação Braz -Cecap Bandeirantes Express Campinas - São Paulo -SJC Line 05 Purple
    91. 94. Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) Jabaquara - Morumbi Gold Line 02 (Monorail) Vila Prudente - Cidade Tiradentes Green Line 15 (Monorail) Vila Prudente - Ticoatira Line 20 (Monorail) Lapa - Agua Espraiada Line 06 Orange Jundiaí Train São Paulo - Jundiaí Express ABC Line 14 (Airport Express) Estação Luz - Cumbica Line 13 (Guarulhos Train) Estação Braz -Cecap Bandeirantes Express Campinas - São Paulo -SJC Line 05 Purple
    92. 95. Multiple Opportunities for Investment.
    93. 96. Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) Jabaquara - Morumbi Gold Line 02 (Monorail) Vila Prudente - Cidade Tiradentes Green Line 15 (Monorail) Vila Prudente - Ticoatira Line 20 (Monorail) Lapa - Agua Espraiada Line 06 Orange Express ABC Line 14 (Airport Express) Estação Luz - Cumbica Line 13 (Guarulhos Train) Estação Braz -Cecap Bandeirantes Express Campinas - São Paulo -SJC Line 05 Purple
    94. 97. Jundiaí Train - São Paulo - Jundiaí Multiple Opportunities for Investment.
    95. 98. Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) Jabaquara - Morumbi Gold Line 02 (Monorail) Vila Prudente - Cidade Tiradentes Green Line 15 (Monorail) Vila Prudente - Ticoatira Line 20 (Monorail) Lapa - Agua Espraiada Line 06 Orange Express ABC Line 14 (Airport Express) Estação Luz - Cumbica Line 13 (Guarulhos Train) Estação Braz -Cecap Bandeirantes Express Campinas - São Paulo -SJC Line 05 Purple
    96. 99. Multiple Opportunities for Investment. ABC - Express
    97. 100. Multiple Opportunities for Investment. Other urban transit projects in São Paulo São Paulo Subway CPTM Line 17 (Monorail) Jabaquara - Morumbi Gold Line 02 (Monorail) Vila Prudente - Cidade Tiradentes Green Line 15 (Monorail) Vila Prudente - Ticoatira Line 20 (Monorail) Lapa - Agua Espraiada Line 06 Orange Jundiaí Train São Paulo - Jundiaí Express ABC Line 14 (Airport Express) Estação Luz - Cumbica Line 13 (Guarulhos Train) Estação Braz -Cecap Bandeirantes Express Campinas - São Paulo -SJC Line 05 Purple
    98. 101. Multiple Opportunities for Investment.
    99. 102. PAC Urban Mobility. Federal Government announces start of October investments of R$ 30 billion within Big Cities Urban Mobility PAC. The program will improve urban mobility in the big Brazilian cities via integrated investments in mass transit systems. The main focus of the investments should be on subways, but also included in the package are exclusive bus lanes and VLTs. Investments have already been announced in Belo Horizonte, Curitiba and Porto Alegre. In the coming weeks, other cities will announce their projects, such as Salvador and Brasília.
    100. 103. Multiple Opportunities for Investment. Consolidation (Secondary Market) Urban Mobility Highway Concessions in various States Federal Concession Program Related Business
    101. 104. Multiple Opportunities for Investment. Program for: São Paulo/Minas Gerais/Goiás/ Santa Catarina/R.G.Sul/etc. Highway Concessions in various States
    102. 105. Historical Overview of Results Projection Oct-Dec/11 Base de Tags (#Thousand) CAGR 01-11 43.6% Net Revenues (R$ Thousand) CAGR 01-11 56.1% EBTDA (R$ thousand) 80.1 %
    103. 106. Busca de Parceria
    104. 107. STP contracted advisor to set up process. Seeking partnerships Objective: seek partner to add value and chiefly to bring expertise in administration of credit. Open the possibility of giving a minority share to the new partner. Various proposals were received. The process is still under way. 1 2 3 4
    105. 109. Multiple Opportunities for Investment. Considering only some of the expected opportunities, the pipeline for the next few years is as follows : Urban Transportation Concessions in São Paulo Concessions in Minas Gerais Federal Concession Program Projects for Investment estimated at R$ 5 bi . Projects for Investment estimated at R$ 20 bi . Projects for Investment estimated at R$ 10 bi . Projects for Investment estimated at R$ 9.5 bi . <ul><li>Expected projects we are pursuing that should require more than R$ 50 billion reais in coming years. </li></ul>
    106. 110. Airports Leonardo Vianna 6
    107. 111. CCR Material Fact
    108. 112. Studies and Acquisitions
    109. 113. Quito Airport <ul><li>Overview of Mariscal Sucre International Airport, “MSIA,” currently the airport of Quito (2010 data): </li></ul><ul><li>5.2 million passengers per year; </li></ul><ul><li>83,800 aircraft movements annually (ATMs); </li></ul><ul><li>77% domestic traffic; </li></ul><ul><li>24 airlines in operation; </li></ul><ul><li>Concession ends on January 31, 2041: </li></ul><ul><li>A period of 30 years, with start scheduled for October 2012; </li></ul><ul><li>AGC participation: 45.5%; </li></ul><ul><li>Estimated revenues for 2011: US$ 84.3 million. </li></ul>2009A 4.8 40E 14.0 10A 5.2 11E 5.4 12E 5.7 13E 6.1 14E 6.4 15E 6.6 20E 7.9 30E 10.5 25E 9.1 35E 12.1 CAGR 09-40:3.5% Total Volume of PAX (million)
    110. 114. San Jose Airport <ul><li>The International Airport of San José (Juan Santamaría) is located in the capital of Costa Rica, San José. </li></ul><ul><li>Overview of airport Juan Santamaría (2010 data): </li></ul><ul><li>3.5 million passengers per year; </li></ul><ul><li>32,400 aircraft movements annually (ATMs); </li></ul><ul><li>Traffic nearly 100% International; </li></ul><ul><li>11 airlines in operation. </li></ul><ul><li>Concession ends on May 5, 2026: </li></ul><ul><li>A period of 25 years (Start in May 2001); </li></ul><ul><li>AGC participation: 48.75%; </li></ul><ul><li>Estimated revenues for 2011: US$ 78 million. </li></ul>2009A 3.3 40E 8.7 12E 3.5 13E 3.6 14E 4.4 15E 5.1 20E 5.8 30E 7.2 25E 6.5 35E 8.0 CAGR 09-25:6.2% Total Volume of PAX (million)
    111. 115. Curaçao Airport <ul><li>Overview of airport: </li></ul><ul><li>1.6 million passengers per year; </li></ul><ul><li>25,900 aircraft movements annually (ATMs); </li></ul><ul><li>70% international traffic (domestic traffic to islands of Aruba, Bonairee St. Martin). </li></ul><ul><li>28 airlines in operation </li></ul><ul><li>Concession ends on July 31, 2033: </li></ul><ul><li>A period of 30 years (Start in August of 2003). </li></ul><ul><li>A-port participation: 40.8%; </li></ul><ul><li>Estimated revenues for 2011: US$ 30.1 million. </li></ul>Total Volume of PAX (million) 2009A 1.6 2032E 2.9 10E 1.6 11E 1.7 13E 1.7 14E 1.8 15E 1.9 25E 2.5 20E 2.2 30E 2.8 12E 1.7 CAGR 09-32:2.7%
    112. 116. New Airport of São Paulo - NASP <ul><li>It will be located between the Anhanguera and Bandeirantes highways, 16km from the Tietê and Pinheiros highways, in the municipalities of Caieiras and Cajamar; </li></ul><ul><li>Overview of airport: </li></ul><ul><li>Initial capacity 16 million PAX (2017); </li></ul><ul><li>146,000 aircraft movements (ATMs); </li></ul><ul><li>Solution for growth in demand for Brazilian airports in coming years; </li></ul><ul><li>Studies indicate that NASP would capture 30% of the demand of the Metropolitan Region of São Paulo (not including Viracopos). </li></ul>2017E 10.5 5.8 2046E 28.1 11.2 39.4 39.4 39.4 34.0 27.9 24.6 19.3 18.1 17.4 16.3 2018E 11.2 6.2 2019E 11.6 6.6 2020E 12.5 6.8 2025E 16.8 7.9 2030E 19.1 8.8 2040E 28.9 10.5 2035E 24.4 9.7 2045E 28.2 11.1 CAGR 17-46:3.1% Total Volume of PAX (million) International Domestic
    113. 117. Bidding for Airports in Brazil Airports of Cumbica, Viracopos, Brasília
    114. 118. About the Auction Purpose <ul><li>It is only possible to win one of the three airports; </li></ul><ul><li>Infraero will have a 49% share in the stock of SPE; </li></ul><ul><li>Auction Date: December 22, 2011; </li></ul><ul><li>Judgment Criterion: Greatest overall value of the Concession; </li></ul><ul><li>Initial timetable of Investments for 18 months, considering the World Cup in 2014. </li></ul><ul><li>Concession of Public Services for Expansion, Maintenance and Operation of the Airport Infrastructrure at the Airport Complex of Guarulhos, Brasília and Viracopos Airports. </li></ul>
    115. 119. Key Characteristics: About the Auction Source: Presentation by Civil Aviation Secretariat Airports Total Passengers Estimate for 2011 Amount of Fixed Grant Amount of Variable Grant % Gross Revenues Duration of Concession Total Investment (in duration of concession) 30.8 million 5.4 million 16.2 million R$ 2,293 Million R$ 521 million R$ 75 Million 10 % 5 % 2 % 20 years 30 years 25 years R$ 6,241 million R$ 11,489 million R$ 3,535 million Guarulhos Viracopos Brasília Investment until 2014 R$ 2,074 million R$ 2,131 million R$ 876 million
    116. 120. Overview of New Business and Qualified Growth. Financial Strategy . Arthur Piotto 6
    117. 121. Investment Capacity Financial Strategy Maximum Indebtedness of 3.0x Net Debt / EBITDA Commitment to pay at least 50% of Net Profits as Dividends Growth of Company will be financed by Leveraging
    118. 122. Indebtedness
    119. 123. Gross Indebtedness 2Q11 R$MM The leveraging indexes incorporate investments in portfolio expansion ViaQuatro, RodoAnel, Controlar, SPVias... Gross Indebtedness (R$ bi) Net Indebtedness (R$ bi) ...but still do not fully consider the additional generation of cash
    120. 125. Gross Indebtedness 2Q11 R$MM Debt by Index - 2Q11 Evolution of Average Consolidated Cost per Year * Em R$ nominais
    121. 126. Estimated impact of fall in interest rates in DRE Reduction of Selic (CDI) Simulation Selic (CDI) by year Savings in Financial Income) 12.0% 11.5% 11.0% 10.5% 10.0% 19.4 38.9 58.3 77.8 97.2 In 2Q11. consolidated debt, expressed in CDI, came to R$ 5.2 billion, while available cash showed R$ 1.2 billion, invested in CDI.
    122. 127. Investment Capacity
    123. 128. Investment Capacity Source: Industry analysis The generation of cash in the current portfolio offers sufficient financial autonomy to CCR to develop multiple projects Market Consensus 2011 2012 2013 EBITDA 2,870 3,473 4,019 (-) Investments 1,169 920 805 (-) Taxes 444 578 756 (+) Funds captured - Amortizations 200 88 -20 Shareholder Cash Flow 1,457 2,063 2,438 (-) Dividends 800 828 1.047 Surplus Cash 657 1,234 1,391 Net Debt / Ebitda 2.0 1.6 1.2 Investment Capacithy at 3.0x Net Debt / Ebitda 2.774 4.978 7.234
    124. 129. Dividends
    125. 130. Dividends We reiterate our commitment to pay out at least 50% of net profits in dividends. Dividends Received <ul><li>To Sept/11: R$ 455 million </li></ul><ul><li>Projected for 2011: R$ 1.522 million </li></ul>Dividend Yield* Payout (Caixa) * Considerando dividendo caixa
    126. 131. Indebtedness Adequate investment capacity Agressive dividend payment practice
    127. 132. Closing 7
    128. 133. CCR In the Global Context
    129. 134. CCR In Brazil Bloomberg: 19/10/2011 CCR price quote: R$ 47.90 Local currency change Local exchange rate change against the Real for the year USD: 1,7761
    130. 135. <ul><li>Clear strategy, defined and public, profitability first, after expansion of business; </li></ul><ul><li>Base scenario indictes possibility of significant potential for up-side, and reduced down-side; </li></ul><ul><li>Cash generation of current portfolio allows for strong dividend policy and qualified growth; </li></ul><ul><li>Efforts geared towards development of new markets and opportunities; </li></ul><ul><li>Differentiated access to capital markets; </li></ul><ul><li>Solid financial situation allows for growth; </li></ul><ul><li>Consolidated regulatory framework makes possible constractual adjustments to realities of the concessionaires. </li></ul><ul><li>WITHCAPITAL DISCIPLINE </li></ul><ul><li>It’s from here that we get there! </li></ul>Why CCRO3 ? Reflection
    131. 136. Questions and Answers 8
    132. 137. Lunch 9
    133. 138. São Paulo, October 21, 2011 Infrastructure: It’s from here that Brazil will arrive there......

    ×