3rd Quarter 2008 Presentation

1. EARNINGS RELEASE – 3Q08
EARNINGS RELEASE – 3Q08
October, 2008

2. 3Q08
October, 2008
DISCLAIMER
The material contained in this presentation is general background information about Iochpe-Maxion S.A. (Iochpe)
as of the date of the presentation. It is information in summary form and does not purport to be complete. It is
not intended to be relied upon as advice to potential investors. No representation or warranty, express or
implied, is made concerning, and no reliance should be placed on, the accuracy, fairness, or completeness of the
information presented herein.
This presentation contains statements that are forward-looking within the meaning of Section 27A of the U.S.
Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. Such forward-looking
statements are only predictions and are not guarantees of future performance. Investors are cautioned that any
such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and
factors relating to the operations and business environments of Iochpe and its subsidiaries that may cause the
actual results of the companies to be materially different from any future results expressed or implied in such
forward-looking statements.
Although Iochpe believes that the expectations and assumptions reflected in the forward-looking statements are
reasonably based on information currently available to Iochpe management, Iochpe cannot guarantee future
results or events. Iochpe expressly disclaims a duty to update any of the forward-looking statement.
This presentation does not constitute an offer, or invitation, or solicitation of an offer, to subscribe for or
purchase any securities. Neither this presentation nor anything contained herein shall form the basis of any
contract or commitment whatsoever.
2

3. 3Q08
October, 2008
SIMPLIFIED CORPORATE STRUCTURE
Iochpe-Maxion S.A.
Iochpe-
50% 100% 100%
R$ 130.3 million1 (25%) R$ 357.4 million1 (68%) R$ 35.3 milhões1 (7%)
Amsted-Maxion Fundição e
Amsted- Automotive Components
Wheels and Chassis Division
Equipamentos Ferroviários S.A. Division
Wheels: R$ 152.4 million1 (29%)
Railway Freight Cars: R$ 87.6 million1 (17%)
Hand Brake Leaver and Pedal Sets:
R$ 12.8 million1 (2%)
Structural Stamped Parts: R$ 6.3
million1 (1%)
Castings: R$ 33.7 million1 (6%)
Chassis: R$ 205.0 million1 (39%)
Wheels: R$ 9.0 million1 (2%)
1Consolidated net operating revenue in the
third quarter of 2008 3

4. 3Q08
October, 2008
HIGHLIGHTS – 3Q08
Consolidated net operating revenue of R$ 523.0 million, an increase of 47.0% over the same period
of last year
EBITDA(*) of R$ 92.2 million, an increase of 60.4% when compared to the same period of last year
Net income of R$ 130.9 million, an increase of 277.9% over the same period of last year
Not considering the non-recurring gain of R$ 76 million, net income would be R$ 54.9 million, an
increase of 82,4% over the same period of last year
Net bank debt of R$ 230.6 million (R$ 173.6 million on Sep/07), or 0,9x EBITDA(*) LTM (1.1x on
Sep/07).
(*) EBITDA, throughout this presentation means: net income plus income tax and social contribution, plus non-operating result, plus
net financial expenses, plus depreciation and amortization, plus goodwill amortization.
4

5. 3Q08
October, 2008
3Q08 – MAIN DRIVERS
Growth of the Brazilian production of vehicles and agricultural machinery
Recovery of domestic demand for railway freight cars
Impact of the real appreciation (1.7051 – 3Q08 x 1.8928 – 3Q07) on net revenue of exports
(reduction of R$ 6.7 million)
Participation of exports: US$ 39.1 million on 3Q08 x US$ 30.8 million on 3Q07 (13% of net
revenue on 3Q08 x 16% no 3Q07)
Non-recurring gain of R$ 76 million, related to the merger of Maxion Sistemas Automotivos into
Iochpe-Maxion on July, 2008
5

6. Industry Performance

7. 3Q08
October, 2008
LIGHT COMMERCIALS – BRAZIL (‘000 units)
Production Export
408
156 153
379
366 144
355
318
296
114
109
98
216
72
130
112
41
34
2003 2004 2005 2006 2007 9M07 9M08 3Q07 3Q08 2003 2004 2005 2006 2007 9M07 9M08 3Q07 3Q08
3Q08 – 07 = 15.7% 3Q08 – 07 = (17.0%)
9M08 – 07 = (10.6%)
9M08 – 07 = 19.9%
CAGR 2003 – 07 = 18.9%
CAGR 2003 – 07 = 17.2%
Source: Anfavea 7

8. 3Q08
October, 2008
TRUCKS – BRAZIL (‘000 units)
Production Export
41
137 38 39
128
117
107 106 30 30
100
25
79
49 13
38 11 11
2003 2004 2005 2006 2007 9M07 9M08 3Q07 3Q08 2003 2004 2005 2006 2007 9M07 9M08 3Q07 3Q08
3Q08 – 07 = 28.3% 3Q08 – 07 = 3.2%
9M08 – 07 = 1.1%
9M08 – 07 = 27.8%
CAGR 2003 – 07 = 33.3%
CAGR 2003 – 07 = 14.8%
Source: Anfavea 8

9. 3Q08
October, 2008
BUSES – BRAZIL (‘000 units)
Production Export
19
39
35 36 16
34 15
30 13
29
27
12
11
9
12
11
4 4
2003 2004 2005 2006 2007 9M07 9M08 3Q07 3Q08 2003 2004 2005 2006 2007 9M07 9M08 3Q07 3Q08
3Q08 – 07 = 15.9% 3Q08 – 07 = 1.9%
9M08 – 07 = 8.8%
9M08 – 07 = 18.7%
CAGR 2003 – 07 = 13.6%
CAGR 2003 – 07 = 9.6%
Source: Anfavea 9

10. 3Q08
October, 2008
AGRICULTURAL MACHINERY – BRAZIL (‘000 units)
Production Export
31 31
69
65
63 27
59
53 23
22
48 21
46 20
24
19 8 8
2003 2004 2005 2006 2007 9M07 9M08 3Q07 3Q08 2003 2004 2005 2006 2007 9M07 9M08 3Q07 3Q08
3Q08 – 07 = 23.5% 3Q08 – 07 = 2.2%
9M08 – 07 = 16.8%
9M08 – 07 = 32.7%
CAGR 2003 – 07 = 6.5%
CAGR 2003 – 07 = 2.5%
Source: Anfavea 10

11. 3Q08
October, 2008
PASSENGER CARS – BRAZIL (‘000 units)
Production Export
684
2,389 635
586
2,092 2,101
2,009
497
1,757 1,756
440 445
427
1,505
737
637
160
136
2003 2004 2005 2006 2007 9M07 9M08 3Q07 3Q08 2003 2004 2005 2006 2007 9M07 9M08 3Q07 3Q08
3Q08 – 07 = 15.7% 3Q08 – 07 = (15.2%)
9M08 – 07 = (3.9%)
9M08 – 07 = 19.7%
CAGR 2003 – 07 = 7.4%
CAGR 2003 – 07 = 12.2%
Source: Anfavea 11

12. 3Q08
October, 2008
RAILWAY FREIGHT CARS – BRAZIL (units)
7,270
Sales
3Q08 – 07 = 325.3%
5,642 9M08 – 07 = 544.8%
CAGR 2003 – 07 = (15.6%)
3,668 3,669
2,459
1,249 1,195
569
281
2003 2004 2005 2006 2007 9M07 9M08 3Q07 3Q08
Sales
Source: Amsted Maxion estimate 12

13. 3Q08
October, 2008
MARKET SHARE – BRAZIL (9M08)
Commercial Vehicles Railway Freight Railway
Chassis
Wheels Cars Castings
Maxion Maxion
Maxion Maxion 97% 80%
65% 63%
Dana
20% Borlem
32%
Others Others Others Cruzaço
15% 5% 3% 20%
Maxion: 67% on 9M07 Maxion: 62% on 9M07 Maxion: 79% on 9M07 Maxion: 80% on 9M07
Source: Maxion estimate
13

14. Financial and Operating
Performance

15. 3Q08
October, 2008
NET OPERATING REVENUE (R$ million)
1,494
Net Operating Revenue
1,366
1,289 3Q08 – 07 = 47.0%
1,248
9M08 – 07 = 42.1%
1,099
CAGR 2003 – 07 = 17.5%
961
676
523
356
2003 2004 2005 2006 2007 9M07 9M08 3Q07 3Q08
15

16. 3Q08
October, 2008
NET OPERATING REVENUE (R$ million)
Revenue by Market Revenue by Division / Business
523
523 130
356 35
67
74
356
31 206
58
456 147
298
152
104
3Q07 3Q08 3Q07 3Q08
Domestic Export Wheels Chassis Automotive Comp. Amsted Maxion
Domestic: 3Q08 – 07 = 53.2% Wheels: 3Q08 – 07 = 44.8%
Chassis: 3Q08 – 07 = 39.5%
Export: 3Q08 – 07 = 15.4% Automotive Comp.: 3Q08 – 07 = 14.0%
Amsted Maxion: 3Q08 – 07 = 76.7%
16

17. 3Q08
October, 2008
NET OPERATING REVENUE
Revenue by Customer – 3Q07 Revenue by Customer – 3Q08
Caterpillar Caterpillar
2% 2%
VW ALL VW
Daim ler ALL Daim ler
14% 2% 14%
12% 1% 10%
Volvo
2% Volvo
Vale 2%
2%
Agricultural Export
Machinery 14%
6% Vale
14%
Scania
Export
4%
22%
Fiat
After Market 3%
3% Agricultural Ford
Machinery 4%
Others
9% 6% Scania GMB
Fiat 4% 4%
Ford 3% MRS
MRS GMB 4% After Market 10%
10% 5%
2% Others
10%
17

18. 3Q08
October, 2008
EXPORTS (USD million)
119 120
Exports
3Q08 – 07 = 27.1%
102
96 94
9M08 – 07 = 7.9%
CAGR 2003 – 07 = 38.1%
47
39
33 31
2003 2004 2005 2006 2007 9M07 9M08 3Q07 3Q08
18

19. 3Q08
October, 2008
EXPORTS BY DIVISION / BUSINESS
R$ thousand US$ thousand
67
58 39
29 31
17
34
1
14 18 0
0 9
8 0
4
23 13
16 9
3Q07 3Q08 3Q07 3Q08
Wheels Chassis Automotive Comp. Amsted Maxion Wheels Chassis Automotive Comp. Amsted Maxion
Variation 3Q8 - 07 = 15.4% Variation 3Q8 - 07 = 27.1%
Wheels = 30.0% Wheels = 44.0%
Chassis = 84.2% Chassis = 106.3%
Automotive Comp. = 86.7% Automotive Comp. = 105.8%
Amsted Maxion: = (13.3%) Amsted Maxion: = (5.1%) 19

20. 3Q08
October, 2008
GROSS PROFIT (R$ million)
Gross Profit
3Q08 – 07 = 57.5%
9M08 – 07 = 53.9%
CAGR 2003 – 07 = 14.6%
21% 21% 22%
20% 20%
19% 18% 19%
18%
289 283
228 236
219
184
137
114
72
2003 2004 2005 2006 2007 9M07 9M08 3Q07 3Q08
Gross Profit % NOR
20

21. 3Q08
October, 2008
OPERATING INCOME – EBIT (R$ million)
Operating Income
3Q08 – 07 = 68.6%
9M08 – 07 = 86.2%
CAGR 2003 – 07 = 23.5%
200
178
136
127 135
107
16%
15% 14%
12% 12% 11% 11%
10% 83
9%
49
58
2003 2004 2005 2006 2007 9M07 9M08 3Q07 3Q08
EBIT % NOR
21

22. 3Q08
October, 2008
EBITDA* (R$ million)
EBITDA
3Q08 – 07 = 60.4%
9M08 – 07 = 72.9%
CAGR 2003 – 07 = 16.7%
225
205
156 163 165 17% 18%
130 16%
14% 14% 14%
13% 13% 13%
89 92
57
2003 2004 2005 2006 2007 9M07 9M08 3Q07 3Q08
EBITDA % NOR
(*) EBITDA, throughout this presentation means: net income plus income tax and social contribution, plus non-operating result, plus net
financial expenses, plus depreciation and amortization, plus goodwill amortization. 22

23. 3Q08
October, 2008
NET FINANCIAL EXPENSES (R$ million)
Net Financial Expenses
3Q08 – 07 = 517.6%
9M08 – 07 = (51.8%)
CAGR 2003 – 07 = (28.4)%
6%
3%
2% 2% 2%
38 1%
1% 1%
37 0%
33
21
13
10 10
5
2
2003 2004 2005 2006 2007 9M07 9M08 3Q07 3Q08
Financial Exp. % NOR
23

24. 3Q08
October, 2008
IMPACT OF THE FX RATE VARIATION
Impact of the FX rate variation on Finacial Expense (Revenue)
3Q08
Value FX Rate Var.
Balance
US$ Million R$ million
NDF (expired) 35.8 1.5
ACC 14.6 (4.7)
Loans 30.2 (9.1)
Financial Exp./ Rev. (12.3)
Impact of the FX rate variation on Temporary Equity Reserve
3Q08
Balance Balance Variation
R$ MM
Foreign Investments 6.6 7.4
NDF (to expire) (8.5) (16.4)
Total Effect on Equity (1.9) (8.9)
24

25. 3Q08
October, 2008
NET INCOME (R$ million)
Net Income
3Q08 – 07 = 335.7%
Non-recurring gain generated by 209 25% 9M08 – 07 = 277.9%
the merger of Maxion Sistemas
Automotivos into Iochpe-Maxion CAGR 2003 – 07 * = 196.2%
76
15%
131
Non-recurring gain generated by
76 the merger of Maxion Sistemas
Automotivos into Iochpe-Maxion
6% 6% 133 9%
5% 5% 5%
72 72
51 58 55
55
-1% 30
Net Income w/ Non-
-5
recurring Effect
2003 2004 2005 2006 2007 9M07 9M08 3Q07 3Q08
3Q08 – 07 = 82.4%
9M08 – 07 = 140.5%
Net Income % NOR
* Consider the absolute variation in the period 25

26. 3Q08
October, 2008
NET BANK DEBT (R$ million)
1.3
1.1
0.9
0.8 0.8
174 231
0.6 0.6
132 128
115 125
102
2003 2004 2005 2006 2007 9M07 9M08
Net Debt x EBITDA*
(*) EBITDA, throughout this presentation means: net income plus income tax and social contribution, plus non-operating result, plus net
financial expenses, plus depreciation and amortization, plus goodwill amortization
EBITDA LTM 26

27. 3Q08
October, 2008
INDEBTEDNESS – SEP/08 (R$ million)
Debt by Lines
68
121
BNDES-EXIM
299 61%
231 Import
16%
178
ACC
9%
- - Working
Capital
Short Term Long Term Total Debt Cash Net Debt 6% Others
8%
Debt Indexation
TJLP
62%
Indexation Average Cost
Indexed in R$ 79% CDI
Dollar Indexed in US$ 5,5% per year
27%
CDI
YUAN 5%
6% 27

28. 3Q08
October, 2008
OPERATIONS RELATED TO FIXING THE FUTURE VALUE OF THE DOLLAR (NDFs)
At the end of Sep/08, the company had contracted US$ 82.1 million in operations related to selling future dollar at R$
1.8701 per USD FX rate, for the period of Oct/08 to Sep/09
At the end of Sep/08, the company had contracted US$ 5.2 million in operations related to buying future dollar at R$
1.6630 per USD FX rate, for the period of Oct/08 to Jan/09
If the operations would expire on 09/30/2008, it would represented a negative result of R$ 8.5 million, which was
accounted as a negative temporary equity reserve
Contracted Value Average FX Gain/Loss*
Period Operations
US$ Rate R$ thousand
NDFs (Buying) 82,100 1.8701 (9,817)
At the end
NDFs (Selling) 5,212 1.6630 1,335
of 3Q08
Total NDFs (8,482)
* Amount accounted as a negative temporary equity reserve 28

29. 3Q08
October, 2008
CAPEX (R$ million)
84
73 68 67
68
54
47
20 20
2003 2004 2005 2006 2007 9M07 9M08 3Q07 3Q08
29

30. Capital Market

31. 3Q08
October, 2008
SHARES PERFORMANCE - LTM
20.00%
10.00%
0.00%
Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08
-10.00%
-20.00%
-30.00%
-40.00% -39.47%
-39.62%
-50.00%
-60.00%
-58.18%
MYPK3 IBOV IBX-100
Oct/08 – closing price of the 20th (R$ 14.95)
Due to the low liquidity of MYPK3 before the conversion of the shares, was considered the price of MYPK4 before
the conversion (02/26/08) 31

32. 3Q08
October, 2008
AVERAGE DAILY TRADE VOLUME – R$ thousand
Average Daily Trade Volume LTM - R$ thousand
86
81
74 75 77
56 55
43 43
37 37 3,370
2,952 2,978
2,598 38
2,294
1,747 1,987
1,671 1,793
1,413 1,377
1,164
Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08
Volume Trades
Oct/08 – volume and trades until the 20th
Due to the low liquidity of MYPK3 before the conversion of the shares, was considered the volume and trade of
MYPK4 before the conversion (02/26/08) 32

33. 3Q08
October, 2008
OUTLOOK
Extension of the impacts of the financial crisis still to be seen
33

34. 3Q08
October, 2008
RESTRUCTURING
An Extraordinary Shareholders Meeting held on July 1, 2008, approved the merger of the subsidiary Maxion
Sistemas Automotivos into Iochpe-Maxion, based on its book value
This restructuring aimed to simplify the company’s operational and corporate structure, by concentrating all
its main Brazilian operations, except for the subsidiary Amsted Maxion Equipamentos Ferroviarios S.A., in a
single company
34

35. Additional Information

36. 3Q08
October, 2008
INCOME STATEMENT (R$ thousand)
Consolidated Income Statement R$
3Q08 N.O.R 3Q07 N.O.R 9M08 N.O.R 9M07 N.O.R
thousand
Net Operating Revenue 522,983 100.0% 355,705 100.0% 1,365,713 100.0% 960,822 100.0%
Cost of Goods Sold
Raw Material (261,560) 50.0% (164,250) 46.2% (664,569) 48.7% (445,223) 46.3%
Labor / Others (147,529) 28.2% (119,154) 33.5% (417,744) 30.6% (331,489) 34.5%
(409,089) 78.2% (283,404) 79.7% (1,082,313) 79.2% (776,711) 80.8%
Gross Profit 113,894 21.8% 72,301 20.3% 283,400 20.8% 184,111 19.2%
Operating Expenses
General and Administrative (14,178) 2.7% (11,678) 3.3% (38,080) 2.8% (34,934) 3.6%
Commercial (19,666) 3.8% (13,815) 3.9% (50,077) 3.7% (42,914) 4.5%
Others 3,380 0.6% 2,676 0.8% 4,759 0.3% 1,139 0.1%
(30,464) 5.8% (22,817) 6.4% (83,398) 6.1% (76,709) 8.0%
Operating Income (EBIT) 83,430 16.0% 49,484 13.9% 200,002 14.6% 107,402 11.2%
Financial Results
Financial Revenue (25) 0.0% 5,272 1.5% 31,412 2.3% 17,286 1.8%
Financial Expenses (12,724) 2.4% (7,336) 2.1% (36,392) 2.7% (27,611) 2.9%
(12,749) 2.4% (2,064) 0.6% (4,983) 0.4% (10,325) 1.1%
Earnings After Financial Income 70,681 13.5% 47,420 13.3% 195,019 14.3% 97,077 10.1%
Non Operating Results (1,199) 0.2% (830) 0.2% (3,229) 0.2% (7,703) 0.8%
Earnings Before Taxes 69,482 13.3% 46,590 13.1% 191,790 14.0% 89,374 9.3%
Income Taxes 61,501 11.8% (16,530) -4.6% 17,416 1.3% (34,013) -3.5%
Net Income 130,983 25.0% 30,060 8.5% 209,206 15.3% 55,361 5.8%
EBITDA 92,157 17.6% 57,455 16.2% 225,266 16.5% 130,262 13.6%
(*) EBITDA, throughout this presentation means: net income plus income tax and social contribution, plus non-operating
result, plus net financial expenses, plus depreciation and amortization, plus goodwill amortization.
36

37. 3Q08
October, 2008
BALANCE SHEET (R$ thousand)
ASSETS LIABILITIES
Sep-08 Sep-07 Sep-08 Sep-07
CURRENT CURRENT
Cash 28,177 25,821 Loans 177,715 100,528
Financial Investments 40,076 19,842 Payables 101,750 75,160
Receivables 291,554 176,473 Customers Advance 12,061 11,323
Inventory 237,566 162,080 Taxes 15,020 8,757
Wage, Charges and
Supliers Advanced 5,481 9,271 60,542 45,301
others
Recoverable Taxes 13,548 22,937 Others Provision 14,952 6,823
Deferred Taxes 23,376 - Others 20,145 14,713
Others 1,140 5,818 402,185 262,605
640,918 422,242
LONG TERM LONG TERM
Receivable 609 1,524 Loans 121,171 118,786
Obligatory deposits and
12,695 9,186
judicial Provisions 55,854 56,814
Recoverable Taxes 11,010 7,761 Others 6,481 9,243
Deferred Taxes 76,100 34,785 183,506 184,843
Others 1,718 (5,510)
102,132 47,746
MINORITY - -
PERMANENT EQUITY
Investments 441 125 Capital 261,463 161,463
Plants, Property and Temporaty Equity
350,533 296,952 (1,891) -
Equipment Reserve
Intangible 4,894 - Capital Reserves 49,078 103,472
Deferred Items 4,629 679 Retained Earnings 209,206 55,361
360,497 297,756 517,856 320,296
37
TOTAL ASSETS 1,103,547 767,744 TOTAL LIABILITIES 1,103,547 767,744

38. 3Q08
October, 2008
SHAREHOLDERS STRUCTURE
Shareholders Structure on 9/30/2008
Shareholders Shares %
Ioschpe Family 13,534,057 28.53%
BNDESPAR 11,593,401 24.44%
Controlling Shareholders 25,127,458 52.98%
Others 22,304,228 47.02%
Total Iochpe-Maxion 47,431,686 100.00%
38

39. EARNINGS RELEASE – 3Q08
EARNINGS RELEASE – 3Q08
October, 2008