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2Q18 Presentation

- Consolidated traffic fell 5.5% in 2Q18 compared to 2Q17. Adjusted EBITDA on a same-basis increased 1.0% to R$1,091.7 million, with a margin of 58.3% (-0.4 p.p.). Net income on a same-basis totaled R$300.9 million, down 5.2%. - Leonardo Couto Vianna took over as CEO of CCR on August 1, 2018. ViaMobilidade's commercial operations began on August 4, 2018. - Gross debt totaled R$16.6 billion as of June 30, 2018, with an average cost of debt of C

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EARNINGS RESULTS 2Q18 August, 2018
Disclaimer 2 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.
 TRAFFIC: Consolidated traffic fell 5.5%. Proforma traffic (including Renovias and ViaRio proportionally) fell 5.1%.  ADJUSTED EBITDA: Same-basis1 adjusted EBITDA increased by 1.0%, with an adjusted margin of 58.3% (-0.4 p.p.). Adjusted EBITDA decreased by 34.3%, with a margin of 57.2% (-31.2 p.p.).  NET PROFIT: Same-basis1 net income totaled R$300.9 million, 5.2% down. Net income totaled R$277.7 million, 58.4% down. 2Q18 Highlights 3 1 Same-basis figures exclude: (i) ViaMobilidade, which concession agreement was executed in April 2018; (ii) non-recurring expenses related to the Independent Committee of R$17.6 million in EBITDA and R$11.6 million in net income; (iii) non-recurring effect of the acquisition of stakes in ViaQuatro and ViaRio in 2Q17 of R$548.1 million on EBITDA and R$361.8 million on net income; and (iv) additionally, net income and proforma comparisons exclude ViaRio, in which CCR’s stake has increased from 33.33% to 66.66% since May 2017.
 Pursuant to the restructuring process started in 2014 with the “Strategic Leadership Development and Identification Program”, Leonardo Couto Vianna took over as the CEO of CCR on August 1st, as announced through the Material Fact of July 20.  ViaMobilidade’s commercial operations began on August 4th, with twelve Line 5 subway stations. Subsequent Event
Financial Highlights 5 ¹ Net revenue excludes construction revenue. ² Same-basis figures exclude: (i) ViaMobilidade, which concession agreement was executed in April 2018; (ii) non-recurring expenses related to the Independent Committee of R$17.6 million in EBITDA and R$11.6 million in net income; (iii) non-recurring effect of the acquisition of stakes in ViaQuatro and ViaRio in 2Q17 of R$548.1 million on EBITDA and R$361.8 million on net income; and (iv) additionally, net income and proforma comparisons exclude ViaRio, in which CCR’s stake has increased from 33.33% to 66.66% since May 2017. 3 Calculated by adding net revenue, construction revenue, cost of services and administrative expenses. 4 The adjusted EBIT and EBITDA margins were calculated by dividing EBIT and EBITDA by net revenue, excluding construction revenue, as required by IFRS. 5 Calculated excluding non-cash expenses: depreciation and amortization, provision for maintenance and the recognition of prepaid concession expenses. Financial Indicators (R$ MM) 2Q17 2Q18 Chg % 2Q17 2Q18 Chg % Net Revenues1 1,842.1 1,872.8 1.7% 1,985.0 2,044.7 3.0% Adjusted Net Revenues on the same basis2 1,842.1 1,872.8 1.7% 1,970.9 2,024.8 2.7% Adjusted EBIT3 1,268.3 615.0 -51.5% 1,327.4 693.3 -47.8% Adjusted EBIT Mg.4 68.8% 32.8% -36.0 p.p. 66.9% 33.9% -33.0 p.p. EBIT on the same basis2 720.1 636.5 -11.6% 775.1 706.3 -8.9% EBIT Mg. on the same basis2 39.1% 34.0% -5,1 p.p. 39.3% 34.9% -4,4p.p. Adjusted EBITDA5 1,629.3 1,070.3 -34.3% 1,721.3 1,187.0 -31.0% Adjusted EBITDA Mg.4 88.4% 57.2% -31.2 p.p. 86.7% 58.1% -28.6 p.p. Adjusted EBITDA on the same basis2 1,081.1 1,091.7 1.0% 1,165.3 1,195.1 2.6% Adjusted EBITDA Mg. on the same basis2 58.7% 58.3% -0.4 p.p. 59.1% 59.0% -0.1 p.p. Net Income 667.1 277.7 -58.4% 667.1 277.7 -58.4% Net Income on the same basis2 317.3 300.9 -5.2% 317.3 300.9 -5.2% IFRS Proforma
253,634 263,465 253,194 246,625 246,790 234,216 2Q13 2Q14 2Q15 2Q16 2Q17 2Q18 Traffic – Quarter Change (Proforma*) 6 Consolidated – MM Equivalent Vehicle Toll Revenue and Traffic 2Q18 X 2Q17 (%) * Information including proportional traffic of Renovias and ViaRio. -4.7 -5.0 -7.9 -4.4 -6.7 -5.5 -5.8 -6.0 1.2 -2.8 -1.3 -5.1 -0.7 -7.7 -4.2 -0.6 -3.5 8.0 AutoBAn NovaDutra Rodonorte ViaLagos ViaOeste Renovias RodoAnel Oeste SPVias MSVia Traffic Toll Revenues
7 Revenue and EBITDA Analysis (Proforma*) * Including the proportional results of jointly-owned subsidiaries. Gross Operating Revenues (excluding Construction Revenue) EBITDA Breakdown Payment Means AutoBAn 23.3% NovaDutra 13.9% ViaOeste 10.8% Airports 8.3% RodoNorte 7.8% SPVias 6.7% ViaQuatro 6.3% Metrô Bahia 5.4% TAS 3.4% MSVia 3.0% RodoAnel Oeste 2.8% Renovias 1.9% Barcas 1.5% Others 4.9% 89% 87% 86% 83% 1% 5% 8% 11% 7% 5% 5% 5% 3% 3% 1% 1% 2Q15 2Q16 2Q17 2Q18 Highways Urban Mobility Airports Services 70% 70% 68% 69% 30% 30% 32% 31% 2Q15 2Q16 2Q17 2Q18 Electronic Cash
1,064 1,729 1,706 60 44 40 40 39 19 5 2 548 22 2Q17 Depreciation and Amortization Third-party Services Granting Power Advanced Expenses Personnel Costs Construction Costs Maintenance Provision Other Costs Effect ViaQuatro and ViaRio 2Q18 One-off Independent Committee and ViaMobilidade 2Q18 Same Basis 8 Conclusion of civil works in NovaDutra, RodoNorte, Metrô Bahia and ViaOeste Collective bargaining agreement, new employees in TAS, Metrô Bahia and variable compensation IFRS Costs Evolution Independent Committee and AutoBAn’s direct cost 1 Materials, insurance, rent, marketing, trips, electronic means of payment, fuel and other general expenses. 2 Same-basis costs exclude: (i) ViaMobilidade, whose concession agreement was executed in April 2018; and (ii) costs of R$17.6 million related to the Independent Committee. IFRS same-basis cash costs: R$ 781 MM (+2.6%) Total Costs (R$ MM) 56% 194% 10%21% 4%20% 13% 1% 63% AutoBAn and ViaOeste excluding one-off effects ViaQuatro and ViaRio R$ 1,612 MM 1 2
Proforma EBITDA* 9 86,7% Mg. * Same-basis figures exclude: (i) ViaMobilidade, which concession agreement was executed in April 2018; (ii) non-recurring expenses related to the Independent Committee of R$17.6 million in EBITDA and R$11.6 million in net income; (iii) non-recurring effect of the acquisition of stakes in ViaQuatro and ViaRio in 2Q17 of R$548.1 million on EBITDA and R$361.8 million on net income; and (iv) additionally, net income and proforma comparisons exclude ViaRio, in which CCR’s stake has increased from 33.33% to 66.66% since May 2017. Same basis 2Q17 R$ 1,165 MM 59.1% Mg. R$ MM 58.1% Mg. Same basis +2.6% 59.0% Mg. (-0.1 p.p.) 1,721 1,187 1,195 (9) 18 2Q17 Proforma EBITDA 2Q18 Proforma EBITDA New Projects One-off Independent Committee 2Q18 Proforma EBITDA Same Basis*
271.1 240.0 ( 27.2 ) ( 11.0 ) ( 0.3 ) 58.4 0.8 43.9 ( 51.3 ) 14.8 3.0 2Q17 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, Financing, Debentures, Derivatives and Suppliers 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 2Q18 Net Financial Result 10 R$ MM IFRS Financial Results 12% Average cash balance 2Q18 x 2Q17 = -7.1% Chg. of average CDI 2Q18 X 2Q17= - 4.5 p.p. Gross Debt = R$ 16.6 bn (+13.1%)
2Q18 2Q17 11 • Total Gross Debt: R$ 16.6 bi (R$17.7 Bn proforma) • Net Debt / EBITDA: 2.7 x (2.6 x proforma) Not hedged Hedged 2Q18 Debt in June 30, 2018 Hedged Indebtedness and leverage position Gross debt by indexer Hedged gross debt by indexer CDI 44.2% IPCA 27.0% TJLP 26.1% USD 2.7% CDI 68.3% IPCA 6.3% TJLP 23.1% USD 2.3% CDI 52.0% IPCA 15.6% TJLP 26.1% USD 2.7% Others 3.6%
Debt Structure and Amortization Amortization 2018 - 2019 Amortization Schedule/ Not hedged (R$ MM) 12 389 1,048 2,468 1,472 1,988 474 36 86 90 3,658 754 1,200 574 608 1,368 3 46 25 218 166 3 2018 2019 2020 2021 From 2022 CDI TJLP IPCA USD Others 7,180 3,153 2,333 1,621 2,288 Amortization (R$ MM) 2018 2019 AutoBAn 650 681 BH Airport 421 0 Metrô Bahia 280 767 SPVias 133 242 NovaDutra 86 161 CCR S.A. 16 0 RodoAnel Oeste 10 0 ViaOeste 7 187 ViaLagos 6 0 RodoNorte 5 163 CCR Espanha S.L.U. 3 0 MSVia 3 0 Others 1 133 TOTAL 1,621 2,333
13 2Q18 Fundraising Company Issuance Amount (R$ MM) Debt Cost Maturity ViaMobilidade Apr-18 600.0 Promissory Note CDI + 1.75% p.a. Jun-18 ViaLagos Apr-18 41.0 Debentures 113% of CDI Jul-20 SAMM Apr-18 54.0 Promissory Note 114% of CDI Apr-19 Metrô Bahia May-18 400.0 Debentures CDI + 1.50% p.a. Nov-19 Metrô Bahia May-18 40.4 BNDES TJLP + 4% p.a. Oct-42 VLT Carioca May-18 12.4 BNDES TJLP + 3.4% p.a. Nov-35 VLT Carioca May-18 6.2 BNDES 6.14% p.a. Nov-35 ViaMobilidade May-18 600.0 Debentures CDI + 1.75% p.a. Apr-21 Total 1,754.0
10,413 10,734 12,423 12,971 13,945 13,261 14,443 10,759 11,961 11,801 12,703 12,719 13,780 11,851 12,925 2.5 2.5 3.0 3.0 3.1 2.2 2.4 1.8 1.8 2.2 2.3 2.2 2.6 2.2 2.7 -5.5 -4.5 -3.5 -2.5 -1.5 -0.5 0.5 1.5 2.5 3.5 5,000 7,000 9,000 11,000 13,000 15,000 17,000 19,000 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 1Q18 2Q18 Net Debt (R$ MM) Net Debt/EBITDA* (x) 14 R$ MM Proforma Data IFRS Debt Net Debt / EBITDA LTM *Between 2Q17 and 1Q18, LTM adjusted EBITDA includes non-recurring effects of the acquisition of stakes in ViaQuatro and ViaRio, in the amount of R$548.1 million. Between 3Q16 and 2Q17, this indicator was positively impacted by the non-recurring effect of the sale of STP, in the amount of R$1,307.7 million.
667 317 301278 12 (12) 2Q17 Net Income 2Q17 Same Basis* Net Income 2Q18 Net Income One-off Independent Committee New Projects 2Q18 Same Basis* Net Income 15 R$ MM Net Income Same basis (-5.2%) *Same-basis figures exclude: (i) ViaRio, in which CCR’s stake has increased from 33.33% to 66.66% since May 2018; (ii) ViaMobilidade which concession agreement was executed in April 2018; and (iii) non-recurring expenses related to the Independent Committee of R$11.6 million; and (iv) non-recurring effects of the acquisition of stakes in ViaQuatro and ViaRio, in the amount of R$361.8 million in 2Q17.
16 1 - The investments made by the Company, which will be reimbursed by the Granting Authority as monetary consideration or contribution, compose the financial assets. 2 - Includes CCR, CPC and eliminations. 3 - Payments related to the acquisition of sites in the municipalities of Cajamar and Caieiras, as announced through the Material Fact of February 5, 2016, totaling R$32.9 million in 2Q18. Investments and Maintenance 1Q18 2Q18 1H18 2Q18 1H18 2Q18 1H18 2Q18 1H18 2Q18 1H18 2Q18 1H18 NovaDutra 33.9 52.6 7.8 9.8 41.7 62.4 40.6 60.5 0.0 0.0 82.3 122.9 ViaLagos 0.4 0.6 0.5 1.0 0.9 1.6 0.3 0.3 0.0 0.0 1.2 1.8 RodoNorte 99.1 192.3 1.7 2.7 100.8 195.0 18.8 44.1 0.0 0.0 119.6 239.1 AutoBAn 18.3 47.0 3.2 5.6 21.5 52.6 1.8 3.6 0.0 0.0 23.4 56.3 ViaOeste 11.6 17.5 2.4 4.9 14.0 22.4 7.0 25.8 0.0 0.0 20.9 48.2 ViaQuatro 30.1 73.0 2.4 4.2 32.5 77.2 0.0 0.0 0.0 0.0 32.5 77.2 RodoAnel Oeste 6.0 10.8 1.2 3.5 7.2 14.3 0.0 0.0 0.0 0.0 7.2 14.3 Samm 2.0 2.0 1.7 3.0 3.7 5.0 0.0 0.0 0.0 0.0 3.7 5.0 SPVias 0.6 13.0 1.7 2.7 2.3 15.7 8.6 9.2 0.0 0.0 10.9 24.8 CAP 16.2 26.6 0.0 0.0 16.2 26.6 0.0 0.0 0.0 0.0 16.2 26.6 Barcas (0.0) 0.0 0.0 0.1 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.1 Metrô Bahia 80.9 217.5 1.1 2.1 82.0 219.6 0.0 0.0 54.9 120.2 136.9 339.8 BH Airport 9.6 20.0 2.5 3.0 12.1 23.0 0.0 0.0 0.0 0.0 12.1 23.0 MSVia 55.7 108.9 1.6 2.5 57.3 111.4 0.0 0.0 0.0 0.0 57.3 111.4 TAS 0.1 0.2 7.9 10.1 8.0 10.3 0.0 0.0 0.0 0.0 8.0 10.3 Renovias (40%) (0.1) (0.1) 0.8 1.1 0.7 1.0 0.0 3.0 0.0 0.0 0.7 4.0 ViaRio (66.66%) 0.1 0.4 0.5 0.6 0.6 1.0 0.0 0.0 0.0 0.0 0.6 1.0 VLT (24.93%) 1.6 1.9 0.0 0.1 1.6 2.0 0.0 0.0 3.3 9.1 4.9 11.1 Quito - Quiport (50%) 10.0 21.2 0.0 0.0 10.0 21.2 0.0 0.0 0.0 0.0 10.0 21.2 San José - Aeris (48.75%) 16.2 31.4 0.2 0.2 16.4 31.6 0.0 0.0 0.0 0.0 16.4 31.6 ViaMobilidade 12.5 15.3 2.3 2.3 14.8 17.6 0.0 0.0 0.0 0.0 14.8 17.6 Others2 (3.6) (4.5) 3.9 8.1 0.4 3.6 (1.9) (3.3) 0.0 0.0 (1.6) 0.3 Total 401.3 847.6 43.3 67.5 444.7 915.2 75.1 143.2 58.2 129.3 578.0 1,187.7 SPCP3 0.0 0.0 32.9 65.2 32.9 65.2 0.0 0.0 0.0 0.0 32.9 65.2 Total Intangible Assets Performad Maintenance R$ MM Improvements Performa Financial Asset1 Equipments and Others Total Maintenance Cost
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2Q18 Presentation

  • 1.
  • 2.
    Disclaimer 2 This presentation maycontain 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 trafficfell 5.5%. Proforma traffic (including Renovias and ViaRio proportionally) fell 5.1%.  ADJUSTED EBITDA: Same-basis1 adjusted EBITDA increased by 1.0%, with an adjusted margin of 58.3% (-0.4 p.p.). Adjusted EBITDA decreased by 34.3%, with a margin of 57.2% (-31.2 p.p.).  NET PROFIT: Same-basis1 net income totaled R$300.9 million, 5.2% down. Net income totaled R$277.7 million, 58.4% down. 2Q18 Highlights 3 1 Same-basis figures exclude: (i) ViaMobilidade, which concession agreement was executed in April 2018; (ii) non-recurring expenses related to the Independent Committee of R$17.6 million in EBITDA and R$11.6 million in net income; (iii) non-recurring effect of the acquisition of stakes in ViaQuatro and ViaRio in 2Q17 of R$548.1 million on EBITDA and R$361.8 million on net income; and (iv) additionally, net income and proforma comparisons exclude ViaRio, in which CCR’s stake has increased from 33.33% to 66.66% since May 2017.
  • 4.
     Pursuant tothe restructuring process started in 2014 with the “Strategic Leadership Development and Identification Program”, Leonardo Couto Vianna took over as the CEO of CCR on August 1st, as announced through the Material Fact of July 20.  ViaMobilidade’s commercial operations began on August 4th, with twelve Line 5 subway stations. Subsequent Event
  • 5.
    Financial Highlights 5 ¹ Netrevenue excludes construction revenue. ² Same-basis figures exclude: (i) ViaMobilidade, which concession agreement was executed in April 2018; (ii) non-recurring expenses related to the Independent Committee of R$17.6 million in EBITDA and R$11.6 million in net income; (iii) non-recurring effect of the acquisition of stakes in ViaQuatro and ViaRio in 2Q17 of R$548.1 million on EBITDA and R$361.8 million on net income; and (iv) additionally, net income and proforma comparisons exclude ViaRio, in which CCR’s stake has increased from 33.33% to 66.66% since May 2017. 3 Calculated by adding net revenue, construction revenue, cost of services and administrative expenses. 4 The adjusted EBIT and EBITDA margins were calculated by dividing EBIT and EBITDA by net revenue, excluding construction revenue, as required by IFRS. 5 Calculated excluding non-cash expenses: depreciation and amortization, provision for maintenance and the recognition of prepaid concession expenses. Financial Indicators (R$ MM) 2Q17 2Q18 Chg % 2Q17 2Q18 Chg % Net Revenues1 1,842.1 1,872.8 1.7% 1,985.0 2,044.7 3.0% Adjusted Net Revenues on the same basis2 1,842.1 1,872.8 1.7% 1,970.9 2,024.8 2.7% Adjusted EBIT3 1,268.3 615.0 -51.5% 1,327.4 693.3 -47.8% Adjusted EBIT Mg.4 68.8% 32.8% -36.0 p.p. 66.9% 33.9% -33.0 p.p. EBIT on the same basis2 720.1 636.5 -11.6% 775.1 706.3 -8.9% EBIT Mg. on the same basis2 39.1% 34.0% -5,1 p.p. 39.3% 34.9% -4,4p.p. Adjusted EBITDA5 1,629.3 1,070.3 -34.3% 1,721.3 1,187.0 -31.0% Adjusted EBITDA Mg.4 88.4% 57.2% -31.2 p.p. 86.7% 58.1% -28.6 p.p. Adjusted EBITDA on the same basis2 1,081.1 1,091.7 1.0% 1,165.3 1,195.1 2.6% Adjusted EBITDA Mg. on the same basis2 58.7% 58.3% -0.4 p.p. 59.1% 59.0% -0.1 p.p. Net Income 667.1 277.7 -58.4% 667.1 277.7 -58.4% Net Income on the same basis2 317.3 300.9 -5.2% 317.3 300.9 -5.2% IFRS Proforma
  • 6.
    253,634 263,465 253,194 246,625 246,790 234,216 2Q13 2Q142Q15 2Q16 2Q17 2Q18 Traffic – Quarter Change (Proforma*) 6 Consolidated – MM Equivalent Vehicle Toll Revenue and Traffic 2Q18 X 2Q17 (%) * Information including proportional traffic of Renovias and ViaRio. -4.7 -5.0 -7.9 -4.4 -6.7 -5.5 -5.8 -6.0 1.2 -2.8 -1.3 -5.1 -0.7 -7.7 -4.2 -0.6 -3.5 8.0 AutoBAn NovaDutra Rodonorte ViaLagos ViaOeste Renovias RodoAnel Oeste SPVias MSVia Traffic Toll Revenues
  • 7.
    7 Revenue and EBITDAAnalysis (Proforma*) * Including the proportional results of jointly-owned subsidiaries. Gross Operating Revenues (excluding Construction Revenue) EBITDA Breakdown Payment Means AutoBAn 23.3% NovaDutra 13.9% ViaOeste 10.8% Airports 8.3% RodoNorte 7.8% SPVias 6.7% ViaQuatro 6.3% Metrô Bahia 5.4% TAS 3.4% MSVia 3.0% RodoAnel Oeste 2.8% Renovias 1.9% Barcas 1.5% Others 4.9% 89% 87% 86% 83% 1% 5% 8% 11% 7% 5% 5% 5% 3% 3% 1% 1% 2Q15 2Q16 2Q17 2Q18 Highways Urban Mobility Airports Services 70% 70% 68% 69% 30% 30% 32% 31% 2Q15 2Q16 2Q17 2Q18 Electronic Cash
  • 8.
    1,064 1,729 1,706 60 44 4040 39 19 5 2 548 22 2Q17 Depreciation and Amortization Third-party Services Granting Power Advanced Expenses Personnel Costs Construction Costs Maintenance Provision Other Costs Effect ViaQuatro and ViaRio 2Q18 One-off Independent Committee and ViaMobilidade 2Q18 Same Basis 8 Conclusion of civil works in NovaDutra, RodoNorte, Metrô Bahia and ViaOeste Collective bargaining agreement, new employees in TAS, Metrô Bahia and variable compensation IFRS Costs Evolution Independent Committee and AutoBAn’s direct cost 1 Materials, insurance, rent, marketing, trips, electronic means of payment, fuel and other general expenses. 2 Same-basis costs exclude: (i) ViaMobilidade, whose concession agreement was executed in April 2018; and (ii) costs of R$17.6 million related to the Independent Committee. IFRS same-basis cash costs: R$ 781 MM (+2.6%) Total Costs (R$ MM) 56% 194% 10%21% 4%20% 13% 1% 63% AutoBAn and ViaOeste excluding one-off effects ViaQuatro and ViaRio R$ 1,612 MM 1 2
  • 9.
    Proforma EBITDA* 9 86,7% Mg. * Same-basisfigures exclude: (i) ViaMobilidade, which concession agreement was executed in April 2018; (ii) non-recurring expenses related to the Independent Committee of R$17.6 million in EBITDA and R$11.6 million in net income; (iii) non-recurring effect of the acquisition of stakes in ViaQuatro and ViaRio in 2Q17 of R$548.1 million on EBITDA and R$361.8 million on net income; and (iv) additionally, net income and proforma comparisons exclude ViaRio, in which CCR’s stake has increased from 33.33% to 66.66% since May 2017. Same basis 2Q17 R$ 1,165 MM 59.1% Mg. R$ MM 58.1% Mg. Same basis +2.6% 59.0% Mg. (-0.1 p.p.) 1,721 1,187 1,195 (9) 18 2Q17 Proforma EBITDA 2Q18 Proforma EBITDA New Projects One-off Independent Committee 2Q18 Proforma EBITDA Same Basis*
  • 10.
    271.1 240.0 ( 27.2 )( 11.0 ) ( 0.3 ) 58.4 0.8 43.9 ( 51.3 ) 14.8 3.0 2Q17 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, Financing, Debentures, Derivatives and Suppliers 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 2Q18 Net Financial Result 10 R$ MM IFRS Financial Results 12% Average cash balance 2Q18 x 2Q17 = -7.1% Chg. of average CDI 2Q18 X 2Q17= - 4.5 p.p. Gross Debt = R$ 16.6 bn (+13.1%)
  • 11.
    2Q18 2Q17 11 • TotalGross Debt: R$ 16.6 bi (R$17.7 Bn proforma) • Net Debt / EBITDA: 2.7 x (2.6 x proforma) Not hedged Hedged 2Q18 Debt in June 30, 2018 Hedged Indebtedness and leverage position Gross debt by indexer Hedged gross debt by indexer CDI 44.2% IPCA 27.0% TJLP 26.1% USD 2.7% CDI 68.3% IPCA 6.3% TJLP 23.1% USD 2.3% CDI 52.0% IPCA 15.6% TJLP 26.1% USD 2.7% Others 3.6%
  • 12.
    Debt Structure andAmortization Amortization 2018 - 2019 Amortization Schedule/ Not hedged (R$ MM) 12 389 1,048 2,468 1,472 1,988 474 36 86 90 3,658 754 1,200 574 608 1,368 3 46 25 218 166 3 2018 2019 2020 2021 From 2022 CDI TJLP IPCA USD Others 7,180 3,153 2,333 1,621 2,288 Amortization (R$ MM) 2018 2019 AutoBAn 650 681 BH Airport 421 0 Metrô Bahia 280 767 SPVias 133 242 NovaDutra 86 161 CCR S.A. 16 0 RodoAnel Oeste 10 0 ViaOeste 7 187 ViaLagos 6 0 RodoNorte 5 163 CCR Espanha S.L.U. 3 0 MSVia 3 0 Others 1 133 TOTAL 1,621 2,333
  • 13.
    13 2Q18 Fundraising Company IssuanceAmount (R$ MM) Debt Cost Maturity ViaMobilidade Apr-18 600.0 Promissory Note CDI + 1.75% p.a. Jun-18 ViaLagos Apr-18 41.0 Debentures 113% of CDI Jul-20 SAMM Apr-18 54.0 Promissory Note 114% of CDI Apr-19 Metrô Bahia May-18 400.0 Debentures CDI + 1.50% p.a. Nov-19 Metrô Bahia May-18 40.4 BNDES TJLP + 4% p.a. Oct-42 VLT Carioca May-18 12.4 BNDES TJLP + 3.4% p.a. Nov-35 VLT Carioca May-18 6.2 BNDES 6.14% p.a. Nov-35 ViaMobilidade May-18 600.0 Debentures CDI + 1.75% p.a. Apr-21 Total 1,754.0
  • 14.
    10,413 10,734 12,423 12,971 13,945 13,261 14,443 10,759 11,961 11,801 12,70312,719 13,780 11,851 12,925 2.5 2.5 3.0 3.0 3.1 2.2 2.4 1.8 1.8 2.2 2.3 2.2 2.6 2.2 2.7 -5.5 -4.5 -3.5 -2.5 -1.5 -0.5 0.5 1.5 2.5 3.5 5,000 7,000 9,000 11,000 13,000 15,000 17,000 19,000 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 1Q18 2Q18 Net Debt (R$ MM) Net Debt/EBITDA* (x) 14 R$ MM Proforma Data IFRS Debt Net Debt / EBITDA LTM *Between 2Q17 and 1Q18, LTM adjusted EBITDA includes non-recurring effects of the acquisition of stakes in ViaQuatro and ViaRio, in the amount of R$548.1 million. Between 3Q16 and 2Q17, this indicator was positively impacted by the non-recurring effect of the sale of STP, in the amount of R$1,307.7 million.
  • 15.
    667 317 301278 12(12) 2Q17 Net Income 2Q17 Same Basis* Net Income 2Q18 Net Income One-off Independent Committee New Projects 2Q18 Same Basis* Net Income 15 R$ MM Net Income Same basis (-5.2%) *Same-basis figures exclude: (i) ViaRio, in which CCR’s stake has increased from 33.33% to 66.66% since May 2018; (ii) ViaMobilidade which concession agreement was executed in April 2018; and (iii) non-recurring expenses related to the Independent Committee of R$11.6 million; and (iv) non-recurring effects of the acquisition of stakes in ViaQuatro and ViaRio, in the amount of R$361.8 million in 2Q17.
  • 16.
    16 1 - Theinvestments made by the Company, which will be reimbursed by the Granting Authority as monetary consideration or contribution, compose the financial assets. 2 - Includes CCR, CPC and eliminations. 3 - Payments related to the acquisition of sites in the municipalities of Cajamar and Caieiras, as announced through the Material Fact of February 5, 2016, totaling R$32.9 million in 2Q18. Investments and Maintenance 1Q18 2Q18 1H18 2Q18 1H18 2Q18 1H18 2Q18 1H18 2Q18 1H18 2Q18 1H18 NovaDutra 33.9 52.6 7.8 9.8 41.7 62.4 40.6 60.5 0.0 0.0 82.3 122.9 ViaLagos 0.4 0.6 0.5 1.0 0.9 1.6 0.3 0.3 0.0 0.0 1.2 1.8 RodoNorte 99.1 192.3 1.7 2.7 100.8 195.0 18.8 44.1 0.0 0.0 119.6 239.1 AutoBAn 18.3 47.0 3.2 5.6 21.5 52.6 1.8 3.6 0.0 0.0 23.4 56.3 ViaOeste 11.6 17.5 2.4 4.9 14.0 22.4 7.0 25.8 0.0 0.0 20.9 48.2 ViaQuatro 30.1 73.0 2.4 4.2 32.5 77.2 0.0 0.0 0.0 0.0 32.5 77.2 RodoAnel Oeste 6.0 10.8 1.2 3.5 7.2 14.3 0.0 0.0 0.0 0.0 7.2 14.3 Samm 2.0 2.0 1.7 3.0 3.7 5.0 0.0 0.0 0.0 0.0 3.7 5.0 SPVias 0.6 13.0 1.7 2.7 2.3 15.7 8.6 9.2 0.0 0.0 10.9 24.8 CAP 16.2 26.6 0.0 0.0 16.2 26.6 0.0 0.0 0.0 0.0 16.2 26.6 Barcas (0.0) 0.0 0.0 0.1 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.1 Metrô Bahia 80.9 217.5 1.1 2.1 82.0 219.6 0.0 0.0 54.9 120.2 136.9 339.8 BH Airport 9.6 20.0 2.5 3.0 12.1 23.0 0.0 0.0 0.0 0.0 12.1 23.0 MSVia 55.7 108.9 1.6 2.5 57.3 111.4 0.0 0.0 0.0 0.0 57.3 111.4 TAS 0.1 0.2 7.9 10.1 8.0 10.3 0.0 0.0 0.0 0.0 8.0 10.3 Renovias (40%) (0.1) (0.1) 0.8 1.1 0.7 1.0 0.0 3.0 0.0 0.0 0.7 4.0 ViaRio (66.66%) 0.1 0.4 0.5 0.6 0.6 1.0 0.0 0.0 0.0 0.0 0.6 1.0 VLT (24.93%) 1.6 1.9 0.0 0.1 1.6 2.0 0.0 0.0 3.3 9.1 4.9 11.1 Quito - Quiport (50%) 10.0 21.2 0.0 0.0 10.0 21.2 0.0 0.0 0.0 0.0 10.0 21.2 San José - Aeris (48.75%) 16.2 31.4 0.2 0.2 16.4 31.6 0.0 0.0 0.0 0.0 16.4 31.6 ViaMobilidade 12.5 15.3 2.3 2.3 14.8 17.6 0.0 0.0 0.0 0.0 14.8 17.6 Others2 (3.6) (4.5) 3.9 8.1 0.4 3.6 (1.9) (3.3) 0.0 0.0 (1.6) 0.3 Total 401.3 847.6 43.3 67.5 444.7 915.2 75.1 143.2 58.2 129.3 578.0 1,187.7 SPCP3 0.0 0.0 32.9 65.2 32.9 65.2 0.0 0.0 0.0 0.0 32.9 65.2 Total Intangible Assets Performad Maintenance R$ MM Improvements Performa Financial Asset1 Equipments and Others Total Maintenance Cost