CCR reported strong financial results for 3Q05, with net revenues increasing 32.1% and EBITDA growing 43.7% compared to 3Q04. Traffic across CCR's concessions increased 19.6% overall despite high interest rates. Total costs remained well controlled, demonstrating continued operating efficiency. The company also benefited from a reversal of a fiscal provision. CCR remains focused on cost control and has diversified sources of long-term funding to support new growth opportunities.
2. Disclaimer
This presentation contains certain statements that are neither reported financial results
or other historical information. They are forward-looking statements.
Because these forward-looking statements are subject to risks and uncertainties,
actual future results may differ materially from those expressed in or implied by the
statements. Many of these risks and uncertainties relate to factors that are beyond
CCR’s ability to control or estimate precisely, such as future market conditions,
currency fluctuations, the behavior of other market participants, the actions of
governmental regulators, the Company's ability to continue to obtain sufficient
financing to meet its liquidity needs; and changes in the political, social and regulatory
framework in which the Company operates or in economic or technological trends or
conditions, inflation and consumer confidence, on a global, regional or national basis.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this document. CCR does not
undertake any obligation to publicly release any revisions to these forward looking
statements to reflect events or circumstances after the date of these
2
12. Traffic
Quarterly Evolution 3Q05 x 3Q04 – Evolution by Each Concession
(Vehicle Equivalents – million)
CCR: +19.6%
E/VO: - 0.6%
77
65
60 60 64
55
5.1%
4.1%
3.8%
NovaDutra RodoNorte Ponte
3T01 3T02 3T03 3T04 3T05 AutoBAn ViaLagos -0.5% ViaOeste
-1.5%
-7.0%
Despite a high interest rates scenario, the business
remained strong and solid.
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13. Traffic
Nine Months Historical Evolution 9M05 x 9M04 – Evolution by Each Concession
(Vehicle Equivalents – million)
220 CCR: +18,2%
E/VO: +2,0%
186 190
169 171
159 8.1% 8.1%
0.5% Rodonorte Ponte
AutoBAn NovaDutra ViaLagos
-1.5%
9M01 9M02 9M03 9M04 9M05
-4.0%
Despite a high interest rates scenario, the business
remained strong and solid.
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14. Total Costs
Total Costs as a % of Net Revenues Evolution
59,8% 55,9% 65,2% 59,2%
13% 16% 12% 15%
10% 11%
12% 13%
21% 21%
23% 22%
33% 23% 33% 24%
24% 27% 24% 26%
3Q04 3Q05 9M04 9M05
D&A Concession Costs Third Party services Payroll Other
Total Costs = Cost of Services plus Administrative Expenses
Operating efficiency will be focused by the Company
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15. Indebtedness
Gross Net
1,467.4
1,268.7
1,184.1 1,213.6
80.5%
873.7
R$ (million)
R$ (million)
69.3%
678.5
56.6%
1,62
1,05 1,20
3Q03 3Q04 3Q05 3Q03 3Q04 3Q05
Short Term Long Term In R$ Net Debt Net Debt / EBITDA
Low leverage gives flexibility for a new growth step
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16. Indebtedness
Source of Funding Long Term Debt Amortization
Other
(102.8% CDI) 415.6
BID / IFC
(Libor + 4.5%)
Debentures 13%
19% 254.7
(105% CDI) 209.1
10% 181.2
R$ (million)
88.1
22% 48.9
36%
Debêntures
(IGP-M + 9.5% - 11%) 2006 2007 2008 2009 2010 After 2010
BNDES (3 months)
(TJLP + 5.0%)
Diversified sources, long term and no maturity
concentration.
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17. Capital Expenditures
CAPEX (R$ MM) 1Q05 2Q05 3Q05 2005 (E) 2006(E)
AutoBAn 6.9 18.0 33.1 168.6 178.6
NovaDutra 16.4 17.8 22.1 110.1 83.7
Rodonorte 3,7 9,9 23,9 53,5 10,3
Ponte 0.7 2.0 1.8 22.8 11.0
Via Lagos 0.1 0.3 1.7 10.6 2.8
ViaOeste 3.3 21.2 27.3 90.0 90.0
1
Other 0.7 1.2 0.9 16.9 17.5
Consolidated 31.9 70.4 110.8 472.5 393.9
Note: Fiscal Year 2005 (E) and 2006 (E) includes inflation adjustment of 8.0% and 7.0% respectively
1- Includes CCR, Actua, Engelog and STP.
Foreseeability, a business distinguishing mark. Capital
expenditures are clearly defined in contract.
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19. New Businesses
New Federal Concessions
New Concessions in the State of São Paulo
Porto Alegre Metropolitan Pole
Mexico
Chile
Brazil continues the main growth driver. However, CCR
will look for other markets
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