3Q12 Results Presentation

1. November 6, 2012
Presentation of Results
3º Quarter of 2012

2. Agenda
• Recent Highlights
• Financial Results
• Q&A
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3. Recent Events
Tegma starts new operations for Toyota and Hyundai
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• Tegma began in September carrying two new car models, the Toyota Etios and
the Hyundai HB20, to about 100 dealerships in the country;
• Both operations make collections in the factories of Sorocaba (Toyota) and
Piracicaba (Hyundai);

4. 55.3
57.8
3Q11 3Q12
145.0
146.9
9M11 9M12
Consolidated Results
Net Revenue and EBITDA - R$ million
397.6
496.6
3Q11 3Q12
24.9%
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GROWTH DRIVEN BY CONSUMPTION GOODS
SEGMENTS AND BY THE UPWARD IN VEHICLES
SALES.
Adjusted EBITDA Margin
Net Revenue
EBITDA-A
Adjusted EBITDA
DECLINE IN MARGINS DUE TO THE REVENUE
MIX AND THE INCREASE OF STRUCTURE IN
ORDER TO SUPPORT THE GROWTH
1.071
1.303
9M11 9M12
21.7%
13.9%
11.8%
13.5%
11.3%
5.7%
1.3%

5. 46.3
55.7
3Q11 3Q12
122.6 129.1
9M11 9M12
836.5
952.3
9M11 9M12
302.1
365.1
3Q11 3Q12
Segments Highlights
Automotive Logistics – R$ million
Net Revenue of R$ 365.1 million (+20.8 vs 3Q11).
 Growth of 10.6% year on year in the number of
vehicles transported in domestic market;
 Increase of 22.8% in gross revenue of vehicle
logistics;
20.8%
20.4%
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EBITDA of R$ 55.7 million (20.4% vs 3Q11), with margin of
15.3% (stable vs 3Q11).
GROWTH SUPPORTED BY THE RECOVERY IN VEHICLES SALES
13.8%
5.4%
Net Revenue of R$ 952.3 million (+13.8% vs 9M11).
 Growth of 7.7% year on year in the number of
vehicles transported in the nine months of 2012;
 Increase of 15.2% in gross revenue of vehicle
logistics;
EBITDA of R$ 129.2 million (5.4% vs 3Q11), with margin of
13.6% (-1.1p.p vs 3Q11).
3Q12
9M12
Net Revenue Adjusted EBITDA

6. 9.0
2.7
3Q11 3Q12
22.5
17.8
9M11 9M12
234.6
351.1
9M11 9M12
95.5
131.5
3Q11 3Q12
Segments Highlights
Integrated Logistics – R$ million
37.7%
-70.0%
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STRONG GROWTH IN CONSUMPTION GOODS
49.7%
-20.7%
3Q12
9M12
Net Revenue of R$ 131.5 million (37.7% vs 3Q11).
• Increase of 177.2% in the logistics for the
E-commerce segment;
• Growth of 32.2% in the telecommunications
gross revenue;
EBITDA of R$ 2.7 million (-70% vs 3Q11), with margin of
1.6% (-7.4 p.p vs 3Q11).
Net Revenue of R$ 351.1 million (49.7% vs 9M11).
• Increase of 178.7% in the logistics for the E-
commerce segment.
• Growth of 39.0% in the telecommunications
gross revenue;
EBITDA of R$ 17.8 million (-20.7% vs 9M11), with margin
of 5.1% (-4.5 p.p vs 9M11).
Net Revenue Adjusted EBITDA

7. 71.5 72.4
9M11 9M12
28.9
31.6
3Q11 3Q12
Consolidated Results
Net Income - R$ million
NET INCOME IMPACTED BY FINANCIAL AND OPERATIONAL ITEMS.
7
28.9
30.2
3Q11 3Q12
4.8%
2Q12
69.2
63.5
9M11 9M12
-8.2%
9M12
9.4%
-0.2%
Non Recurring Non Recurring

8. 156
192
202
226
213
0.8 X 0.9 X 1.0 X 1.1 X 1.0 X
-10,000.00
-8,000.00
-6,000.00
-4,000.00
-2,000.00
0.00
0
50
100
150
200
250
3T11 4T11 1T12 2T12 3T12
Consolidated Results
Cash and Equivalents – R$ million
Net Debt/EBITDA
/EBITDA 12 months
Debt Profile
58%
42%
CP LP
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9. IR Contacts
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Alexandre Brandão
+55 (11) 4346-2532
alexandre.brandao@tegma.com.br
Ian Nunes
+55 (11) 4397-9423
ian.nunes@tegma.com.br

10. The forward-looking statements contained in this report are subject to risks and uncertainties.
Such forward-looking statements 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 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 by such words as "believe," "may," "will," "continue," "expect," "foresee," "intend,"
"plan," "estimate" and other similar expressions.
Forward-looking statements are not guarantees of performance; Since they refer to the future,
they depend on circumstances that may or may not occur and are therefore subject to risks,
uncertainties and assumptions. Future results may differ materially from those expressed or
suggested by said forward-looking statements. These results and amounts depend on many
factors beyond TEGMA’s control or expectations.
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Disclaimer