3Q07 Results Presentation

1. 3Q07 R lt3Q07 Results
Presentation

2. Agenda
• Recent Events
• Strategic Highlights
• Financial Highlights• Financial Highlights
• Financial Results
• 2007 Guidance
• 2008 Guidance
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3. 3Q073Q07
RESULTSRESULTS
3Q073Q07
RESULTSRESULTS
Results from the 3Q06, 9M06 and 1Q07, unless otherwise indicated, are presented on a pro
forma basis, combining Tegma, Bonifácio Logística e Transportes Ltda (Boni), Coimex
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g g g p ( )
Logística Integrada S.A (C.L.I.) and P.D.I Comércio Indústria e Serviços Ltda (P.D.I) as
if the acquisitions of Boni, C.L.I, and P.D.I had taken place on January 1, 2006.

4. 4
Recent Events
• Tegma Venezuela: This quarter marks the first step in our globalization strategy,
with the start-up of Tegma Venezuela, targeted at the new vehicle transportation
market in that country. The Venezuela operation is initially targeted at serving
General Motors, but we expect to expand the operations to other automakers
operating in that country.
•Shell Operation: We started Shell’s fuel and jet fuel transportation operations with a
total investment of approximately R$18 million, and forecasted annual net revenue of
R$19 million.
3Q07 Recent Events

5. 3Q07 Strategic Highlights
Strategic Highlights
Th h f h f h bil i d d 34 7%•The hefty pace growth of the automobile industry represented a 34.7%
increase in automobile sales in the domestic market in the 3Q07 compared
to the 3Q06. This performance has been boosted by the drop in the
Brazilian interbank interest rate, longer repayment periods and a stableBrazilian interbank interest rate, longer repayment periods and a stable
economy.
I t t f R$20 7 illi t th i iti f 127 i t• Investment of R$20.7 million to the acquisition of 127 equipments,
among them 29 tractors and 98 trailers for new operations and
replacement of existing equipment.
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6. 3Q07 Financial Highlights
Financial Highlights
•Consolidated net revenue in the 3Q07 totaled R$199.7 million, 35.6% up on the third
quarter of 2006.
•Adjusted EBITDAR had a 26.9% upturn and moved from R$ 26.0 million to R$ 32.9
million in the 3Q07.
•The Net Profit, excluding the non-recurring expenses, grew 27.3%, going from
R$13.0 million in the 3Q06 to R$16.6 million in the 3Q07.
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7. Automotive Division
Net Revenue grew by 40.4% year-
on-year:
118 4
166.2
• the volume of transported
automobiles increased by 31.1%;
i i th k b
118.4
40.4%
35.3%
• increase in the average km by
6.6%;
• new autopart transportation
operations and increase of the
20.9
28.2
operations and increase of the
existing ones. NET REVENUE Adjusted EBITDAR
3Q06 3Q07
Adjusted EBITDAR grew by 35.0% year-on-year. In relation to the net revenue, EBITDAR margin
had a slight decrease of 0.7pp when compared to the 3Q06, chiefly due to:
•strong growth in CATLOG operations auto parts transportation and yards
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strong growth in CATLOG operations, auto parts transportation and yards
management, which generate lower margins
•rise in administrative expenses (publications, auditing and consultancy services).

8. Other Sectors Division
Net Revenue grew by 16.0% in the
3Q07 year-on-year due to:
28.9
33.5
• Revenue from transportation of
pulp and paper from the contract
signed with VCP as of in the 4Q06;
and
16.0%
-6 7%and
• Increase in the storage and
inventory management revenue,
chiefly due to the new contract with
5.0
4.7
6.7%
y
Claro, established in the 2Q07. NET REVENUE Adjusted EBITDAR
3Q06 3Q07
Adjusted EBITDAR of the Other Sector moved down by 6.7% from the 3Q06 to
3Q07 mainly due to:
• the delay in the conclusion of the productivity project of HPC; and
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• the delay in the conclusion of the productivity project of HPC; and
• start-up of the Shell operations, with smaller volumes than expected.

9. Consolidated Net Revenue
554.6
310.1
374.8
520.5
35.6%
32.2%
147 2
199.7
393.6
35.6%
147.2
2004 2005 2006 3Q06 3Q07 9M06 9M07
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Consolidated Net Revenue grew by 35.6% year-on-year. The Automotive Division
increased by 40.4% and the Other Sectors Division, 16.0%.

10. Consolidated Adjusted EBITDAR
89.6
59 2
36.9%
53.1
59.2
83.6
26.9%
26.0
32.9
61.1
2004 2005 2006 3Q06 3Q07 9M06 9M07
Adjusted EBITDAR grew by 26 9% year on year The Automotive Division increased
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Adjusted EBITDAR, grew by 26.9% year-on-year. The Automotive Division increased
by 35.0% and the Other Sectors Division moved down by 6.7%.

11. Consolidated Net Income
30.7
33.6
27.4
33.7
27.5%
27 3%
13 0
16.6
26.4
33.727.3%
13.0
2004 2005 2006 3Q06 3Q07 9M06 9M07
Net Income grew 27.3% in the 3Q07 compared to the 3Q06, representing 8.3% of
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g Q p Q , p g
Net Revenue. Considering non-recurring expenses in the period, our net income
would amount to R$15.6 million.

12. Cash Balance and Indebtness
.
. .
.
.
.
BALANCE
dec - 06
. .
INDEBTNESS (INCLUDES LEASE FINANCING)
mar - 07 jun - 07 sep - 07dec - 06 mar - 07 jun - 07 sep - 07
Indebtness / Adjusted EBITDAR (12 months)
Note 1: Amounts in Dec-06 and Mar-07 not include Boni CLI and P D I
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Note 1: Amounts in Dec 06 and Mar 07 not include Boni, CLI and P.D.I.
Note 2: Amounts of indebtness include debit balance of the lease financing, brought to present value

13. 2007 Guidance
MaximumMinimum
730
17 0%
Net Revenue (R$ million)
Adj t d EBITDAR M i
MaximumMinimum
710
16 0%
60
17.0%
CAPEX (R$ million)
Adjusted EBITDAR Margin 16.0%
50
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14. 2008 Guidance
MaximumMinimum
1,000
19 0%
Net Revenue (R$ million)
Adj t d EBITDAR M i
MaximumMinimum
850
17 0%
70
19.0%
CAPEX (R$ million)
Adjusted EBITDAR Margin 17.0%
50
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15. Disclaimer
The forward-looking statements contained in this report are subject to risks and uncertainties.
They are based on the Management’s beliefs and assumptions and information currently available
to the Company Such statements include information about our current plans beliefs orto the Company. Such statements include information about our current plans, beliefs or
expectations, as well as those of the Board of Directors and Board of Executive Officers.
These reservations concerning forward-looking statements also apply to information on our
possible or presumed operating results, as well as declarations preceded by, including or followed
b h dby such words as
"believe", "may", "will", "continue", "expect", "foresee", "intend", "plan", "estimate" and other
similar expressions.
Forward-looking statements do not constitute a guarantee of performance. Since they refer to theg g p y
future, they depend on circumstances that may or may not occur and are therefore subject to
risks, uncertainties and assumptions. Future results and the creation of value for shareholders
may differ substantially from those expressed or suggested by the forward-looking statements.
These results and values depend on many factors beyond TEGMA’s control or expectations.
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