2. 2
Disclaimer
This presentation may contain certain forward-looking projections and trends that neither
represent realized financial results nor historical information.
These forward-looking projections and trends are subject to risk and uncertainty, and
future results may differ materially from the projections. Many of these risks and
uncertainties are related to factors that are beyond CCR’s ability to control or to estimate,
such as market conditions, currency swings, the behavior of other market participants, the
actions of regulatory agencies, the ability of the company to continue to obtain financing,
changes in the political and social context in which CCR operates or economic trends or
conditions, including changes in the rate of inflation and changes in consumer confidence
on a global, national or regional scale.
Readers are advised not to fully trust these projections and trends. CCR is not obliged to
publish any revision of these projections and trends that should reflect new events or
circumstances after the realization of this presentation.
3. TRAFFIC:
Consolidated proforma traffic¹, excluding Ponte and MSVia, decreased 3.7% in 2Q16.
ADJUSTED EBITDA:
Proforma adjusted EBITDA in the same basis2 increased 5.9%, with margin of 63.3% (+1.9 p.p.).
NET PROFIT:
Net profit in the same basis2 reached R$ 147.8 million, a 36.8% decrease in 2Q16.
INDEBTNESS:
Issuances totalizing R$ 4.0 billion with extension of debt profile.
CORPORATIVE HIGHLIGHT:
Signature of the Private Instrument of Agreement of Purchase and Sale for the purchase of
additional participation in ViaRio and binding proposal for the increase of participation in ViaQuatro,
according to the Material Facts of 06/30/16.
3
2Q16 Highlights
1 Including the proportional traffic of Renovias.
2 Same-basis figures exclude: (ii) new businesses, either non-operating, under assisted operation, or which were not included in the portfolio during at least one of the
comparison periods: Metrô Bahia, MSVia and TAS; (ii) Ponte, whose agreement ended on May 31, 2015; and (iii) additionally, in profit in the same comparison basis
and in same-basis pro-forma comparisons, it excludes Controlar, ViaRio and VLT.
4. 1- Net revenue excludes construction revenue.
2- Same-basis figures exclude: (ii) new businesses, either non-operating, under assisted operation, or which were not included in the portfolio during at least one of
the comparison periods: Metrô Bahia, MSVia and TAS; (ii) Ponte, whose agreement ended on May 31, 2015; and (iii) additionally, in profit in the same comparison
basis and in same-basis pro-forma comparisons, it excludes Controlar, ViaRio and VLT.
3- Calculated by adding net revenue, construction revenue, costs of services and administrative expenses
4- The adjusted EBIT and EBITDA margins were calculated by dividing EBIT and EBITDA by net revenue, excluding construction revenue, as required by IFRS.
5- Calculated excluding non-cash expenses: depreciation and amortization, the provision for maintenance and the recognition of prepaid concession expenses.
4
Financial Highlights – 2Q16
Net Revenues1 1,424.4 1,599.6 12.3% 1,657.3 1,865.8 12.6%
Adjusted Net Revenues on the same basis2 1,389.6 1,414.8 1.8% 1,620.3 1,665.2 2.8%
Adjusted EBIT3 583.0 634.7 8.9% 682.1 738.5 8.3%
Adjusted EBIT Mg.4
40.9% 39.7% -1.2 p.p. 41.2% 39.6% -1.6 p.p.
EBIT on the same basis2 602.1 591.8 -1.7% 701.5 694.0 -1.1%
EBIT Mg. on the same basis2
43.3% 41.8% -.,5 p.p. 43.3% 41.7% -1.6 p.p.
Adjusted EBITDA5 845.2 960.2 13.6% 980.9 1,106.7 12.8%
Adjusted EBITDA Mg.4 59.3% 60.0% +0.7 p.p. 59.2% 59.3% +0.1 p.p.
Adjusted EBITDA on the same basis2 858.7 908.4 5.8% 994.7 1,053.3 5.9%
Adjusted EBITDA Mg. on the same basis2
61.8% 64.2% +2.4 p.p. 61.4% 63.3% +1.9 p.p
Net Income 183.7 145.7 -20.7% 183.7 145.7 -20.7%
Net Income on the same basis2 234.0 147.8 -36.8% 234.0 147.8 -36.8%
2Q15 2Q16 Chg %Financial Indicators (R$ MM) 2Q15 2Q16 Chg %
IFRS Proforma
5. 5
Traffic – Quarter Change (Proforma*)
Consolidated – MM Equivalent Vehicle
Revenue and traffic 2Q16 X 2Q15 (%)
* Information including Renovias which is contemplated in the proforma method.
Excluding Ponte
and MSVia
234,478 (-3.7%)
253,194
211,840 237,859
238,811
253,634
263,465
2Q11 2Q12 2Q13 2Q14 2Q15 2Q16
-3.5
-6.4
2.7
-7.5
-5.4
-1.9 -2.4
-4.3
-0.7
5.9
7.8
-2.7 -1.8
1.7
8.9
0.1
AutoBAn NovaDutra RodoNorte ViaLagos ViaOeste Renovias RodoAnel SPVias
Traffic Toll Revenues
7. 1,475.7
1,906.0
1400.4
36 13 1 25
310 27 18 506
2Q15 Depreciation
and
Amortization
Third-party
Services
Granting
Power and
Advanced
Expenses
Personnel
Costs
Construction
Costs
Maintenance
Provision
Other
Costs
2Q16 New
Projects
2Q16
Same
Basis
7
IFRS Costs Evolution
Total Costs (R$ MM)
Conclusion of
civil works in
NovaDutra
and
Rodonorte
New
business and
Ponte
New
business
Capex (New
business)
Same-basis
Cash Cost: R$
528 MM (-4.0%)
Update of
estimates and
technichal
specification
7% 12% 49% 29%18% 0.6%
Same-basis
Cash Cost: R$
550 MM
ProformaSame-
basis Cash
Cost: R$ 633
MM (-2.1%)
65% 18%
8. 981
1,106 1,053
(53)
2Q15
Proforma
EBITDA
2Q16
Proforma
EBITDA
New
Projects
and Ponte
2Q16
Proforma
EBITDA
Same
Basis
8
Proforma EBITDA*
59.2%
of Mg.
59.3%
of Mg.
63.3%
of Mg.
* Same-basis figures exclude: (i) new businesses, either non-operating, under assisted operation, or which were not included in the portfolio during at least one of the
comparison periods: Metrô Bahia, MSVia and TAS; (ii) Ponte, whose agreement ended on May 31, 2015; and (iii) additionally, it excludes Controlar, ViaRio and VLT.
*
2Q15 Same basis
R$ MM 994.7
61.4% of Mg.
2Q16 Same basis
R$ MM 1,053.3
(+5.9%)
R$ MM
9. 389.2
501.7142.0 1.5 15.8
141.8
2.9
66.2 6.9
37.1
13.4
2Q15 Net
Financial Result
Income from
Hedge
Operation
Monetary
variation on
loans, financ.
and debentures
Monetary
Variation on
Liabilities related
to the Granting
Power
Exchange Rate
Variation on
Loans and
Financing
Present Value
Adjustment of
Maintenance
Prov. and
Liabilities related
to the Granting
Power
Interest on
Loans,
Financing and
Debentures
Investment
Income and
Other Income
Fair Value of
Hedge
Operation
Others 2Q16 Net
Financial Result
9
IFRS Financial Results
• Chg. of average CDI 2Q16 X 2Q15 = +1.0 p.p.
• Gross Debt = R$ 14.7 B (+20.0%)
28%
R$ MM
10. 10
Net Income
R$ MM
Same basis
R$ 246 MM
* Same-basis amounts exclude: (i) new businesses, either non-operating, under assisted operation, or which were not included in the portfolio during at least one of the
comparison periods: Metrô Bahia, MSVia and TAS; (ii) Ponte, whose agreement ended on May 31, 2015; and (iii) additionally, it excludes Controlar, ViaRio and VLT.
*
Same basis
R$ 147.8 MM
(-36.8%)183.7
145.7
2 147.8
2Q15
Net
Income
2Q16
Net
Income
New
Projects
and Ponte
2Q16
Net Income
Same
Basis
11. Gross hedged debt by indexer
11
Debt in June 30, 2016
Amortization Schedule (R$ MM) Indebtedness and leverage position
• Total Gross Debt: R$ 14.7 Bn
(R$16.0 Bn proforma)
• Net Debt / EBITDA: 3.3 x
(3.1 x proforma)
Gross debt by indexer
Not hedged Hedged
CDI
78.4%
TJLP
15.1%
IPCA
4.7%
USD
1.7%
CDI
53.1%
IPCA
18.9%
TJLP
15.1%
USD
12.9%
Hedged
1,084
2,591
1,816
1,756
624
105
1,304
350
151
157
452
797 1,182
2,462
2016 2017 2018 2019 From
2020
CDI USD Others
3,0923,0892,963
4,347
1,346
12. 12
Debt Structure and Amortization
Amortization 2016 - 2017 Amortization schedule
Amortization (R$ MM) 2016 2017
AutoBan 283 549
Metrô Bahia 236 610
Barcas 199 0
ViaOeste 154 275
CCR 118 879
CPC 89 417
NovaDutra 85 346
CAP 58 0
RodoAnel Oeste 49 835
CCR USA Airpot 41 40
SPVias 21 155
BHAirport 1 80
CCR Espanha 0 96
Outras 13 64
TOTAL 1,346 4,347
TOTAL AMORTIZATION 1,346 4,347
In R$ billion
Extension of debt
profile
4,8
4,0
6,1
1,3
4,3
9,1
2016 2017 From 2018
Mar-16 Jun-16