The document outlines an agenda and presentations for a conference on choosing new paths and winning new challenges in the toll road concession industry in Brazil. It provides an overview of CCR's current portfolio of toll road concessions in Brazil, the performance of its engineering and administrative subsidiaries, and its strategic focus on growing its business in Brazil through new toll road concessions and related opportunities. CCR aims to maintain its leadership in the industry while pursuing qualified new contracts and related businesses to create additional value.
Here are the key points about the PMI - Greater Florianópolis urban mobility project:
- It involves connecting the city of Florianópolis with the continental region of Santa Catarina through an integrated public transportation system.
- The project includes bus rapid transit (BRT) lines, expansion of the Florianópolis subway, integration of various modes of transportation, and infrastructure works.
- The concession model involves investments, operation and maintenance by the private sector for 30 years.
- Total estimated investments are R$4.5 billion, to be sourced from the private partner, BNDES, national and state governments.
- The project aims to improve mobility in Greater Florian
The presentation outlines CCR's evolution from its founding through the present, and discusses its future potential. It describes how CCR overcame past challenges to consolidate its structure and governance, generating strong returns. It highlights CCR's favorable position given competitive and macroeconomic environments. Going forward, CCR aims to strengthen strategic planning, develop its people, increase contract lengths, maximize new investment profits, and maintain dividend distributions, to achieve a higher level.
This document provides highlights and results from CCR's 4Q07 earnings.
Key highlights include a 6.9% increase in traffic in 4Q07 and 6.2% for 2007. Net revenue increased 11.7% in 4Q07 and 9.7% for 2007. EBITDA grew 16.7% in 4Q07.
Results reflect higher traffic and lower operating costs. Net income decreased 41.6% in 4Q07 due to higher financial expenses. CCR is proposing additional dividends of R$0.50 per share for 2007. Upcoming events include an acquisition of a stake in Renovias.
CCR reported strong financial results for 1Q06, with net income growing 70.5% over 1Q05. Traffic increased slightly by 0.9% overall, except for one concession. CCR continues to pursue growth opportunities through existing concessions, bids for new concessions in Brazil and abroad, and potential acquisitions in the secondary market. Management expects cost efficiencies and margin expansion to continue.
1) CCR reported strong financial results in 2004 with increased traffic, revenues and margins across its concessions.
2) Looking forward, CCR sees growth opportunities from bidding on additional federal highway concessions and the large São Paulo state highway privatization program.
3) CCR maintains a conservative capital structure and dividend policy to support continued growth through new concessions.
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.
The document contains CCR's 2Q07 earnings presentation. It summarizes that CCR saw an 8.4% increase in net revenue and 56.1% increase in net income in 2Q07. Traffic increased 6.3% in 2Q07 and operating costs decreased 7.2%, contributing to improved margins. CCR also provided details on its results by concession and an outlook for continued growth through investments in its existing concessions and pursuing new opportunities.
The document provides an overview of a company's 2Q10 results and outlook. Key highlights include traffic growth of 22.8% in 2Q10 and operating revenue increasing 22.1% to R$899.7 million. EBITDA grew 18.9% to R$554.8 million. While results were solid, costs were temporarily higher due to ramping up maintenance projects. The company has a proven track record and its current leverage provides comfort for the future.
Here are the key points about the PMI - Greater Florianópolis urban mobility project:
- It involves connecting the city of Florianópolis with the continental region of Santa Catarina through an integrated public transportation system.
- The project includes bus rapid transit (BRT) lines, expansion of the Florianópolis subway, integration of various modes of transportation, and infrastructure works.
- The concession model involves investments, operation and maintenance by the private sector for 30 years.
- Total estimated investments are R$4.5 billion, to be sourced from the private partner, BNDES, national and state governments.
- The project aims to improve mobility in Greater Florian
The presentation outlines CCR's evolution from its founding through the present, and discusses its future potential. It describes how CCR overcame past challenges to consolidate its structure and governance, generating strong returns. It highlights CCR's favorable position given competitive and macroeconomic environments. Going forward, CCR aims to strengthen strategic planning, develop its people, increase contract lengths, maximize new investment profits, and maintain dividend distributions, to achieve a higher level.
This document provides highlights and results from CCR's 4Q07 earnings.
Key highlights include a 6.9% increase in traffic in 4Q07 and 6.2% for 2007. Net revenue increased 11.7% in 4Q07 and 9.7% for 2007. EBITDA grew 16.7% in 4Q07.
Results reflect higher traffic and lower operating costs. Net income decreased 41.6% in 4Q07 due to higher financial expenses. CCR is proposing additional dividends of R$0.50 per share for 2007. Upcoming events include an acquisition of a stake in Renovias.
CCR reported strong financial results for 1Q06, with net income growing 70.5% over 1Q05. Traffic increased slightly by 0.9% overall, except for one concession. CCR continues to pursue growth opportunities through existing concessions, bids for new concessions in Brazil and abroad, and potential acquisitions in the secondary market. Management expects cost efficiencies and margin expansion to continue.
1) CCR reported strong financial results in 2004 with increased traffic, revenues and margins across its concessions.
2) Looking forward, CCR sees growth opportunities from bidding on additional federal highway concessions and the large São Paulo state highway privatization program.
3) CCR maintains a conservative capital structure and dividend policy to support continued growth through new concessions.
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.
The document contains CCR's 2Q07 earnings presentation. It summarizes that CCR saw an 8.4% increase in net revenue and 56.1% increase in net income in 2Q07. Traffic increased 6.3% in 2Q07 and operating costs decreased 7.2%, contributing to improved margins. CCR also provided details on its results by concession and an outlook for continued growth through investments in its existing concessions and pursuing new opportunities.
The document provides an overview of a company's 2Q10 results and outlook. Key highlights include traffic growth of 22.8% in 2Q10 and operating revenue increasing 22.1% to R$899.7 million. EBITDA grew 18.9% to R$554.8 million. While results were solid, costs were temporarily higher due to ramping up maintenance projects. The company has a proven track record and its current leverage provides comfort for the future.
CCR is a leader in the Brazilian toll road industry with a 35% market share. It has a proven track record and strong cash flow generation from its toll road concessions. CCR is well positioned for further industry consolidation and has low capex requirements for its existing concessions. It aims to grow through acquiring new concessions and expanding its existing toll road network.
This document summarizes details of a proposed concession for the Mário Covas Ring Road - West Segment in São Paulo, Brazil. The 29.4 km segment would be granted to CCR as an onerous concession over 30 years. Key terms include a fixed grant of R$2 billion to CCR and a variable 3% of gross revenues. CCR estimates the project will generate R$14.3 billion in gross revenue over the concession. Financing would include a R$650 million bridge loan and approximately US$950 million in long-term financing. The proposal aims to improve traffic flow and safety along this segment of the ring road.
CCR is a leader in the Brazilian toll road industry with a 35% market share. It has a proven track record and strong cash flow generation from its toll road concessions. CCR is well positioned for further industry consolidation and has low capex requirements for its existing concessions. It aims to grow through acquiring new concessions and expanding its existing toll road network.
The document outlines the agenda and presentations for a planning, transparency and credibility event held in São Paulo, Brazil. The agenda included opening remarks, presentations on transport infrastructure demands in Bahia by Governor Jaques Wagner, regulatory benchmarks in Brazil's infrastructure by Professor Paulo Resende, and current business highlights from executives at CCR Group. There was also an overview of high-quality growth for CCR Group by Leonardo Vianna and Arthur Piotto, followed by concluding remarks.
CCR's 2Q06 results showed an 8.8% increase in net operating income compared to 2Q05, reaching R$512.8 million, with the number of electronic toll collection users increasing 25.3% to 599 thousand. Total costs increased 17.5% compared to 2Q05. EBIT decreased 4.8% to R$174.7 million due to factors including traffic, operating costs and financial results. CCR's entrance to the IBOVESPA stock index in March 2006 and prepayment of foreign currency debt were highlighted as subsequent positive events.
- CCR reported financial results for the fourth quarter and full year of 2012, with net revenue growth of 15.2% and 13.5% respectively compared to the same periods of 2011.
- Adjusted EBITDA increased 12.0% in 4Q12 versus 4Q11, reaching R$881.8 million, despite a contraction in the EBITDA margin. For the full year, adjusted EBITDA grew 11.5%.
- Net income increased 17.9% in 4Q12 and 30.9% for the full year 2012 due to higher cash generation and lower financial expenses despite a temporary increase in leverage ratios from new business additions.
This document summarizes CCR's 2Q13 earnings results. It reports that consolidated traffic increased 6.2% compared to 2Q12. Toll collection by electronic means grew 14.5% compared to June 2012. Adjusted EBITDA on a same-basis increased 16.8% to 67.0% margin. Subsequent events include the sale of a 10% stake in STP and a proposed interim dividend of R$0.57 per share. Key financial indicators show expansion in EBITDA margin and net income. The company has low leverage with a net debt to EBITDA ratio of 2.0x. Realized investments and maintenance expenditures are presented for main concessions.
The document summarizes the financing strategy and expansion plans for São Paulo's subway-railway system over the next 12 years. It plans to invest $18.3 billion to modernize 22% of the existing train network and increase the subway network by 30%. This will develop a 330km subway-railroad network and increase average daily ridership from 4.6 million to 8.2 million by 2022. Key projects include expanding various subway lines, upgrading existing train lines, and developing new rail connections including an airport express train and Bandeirantes Express Train. The investment is 124% higher than the previous 12 years and expected to reduce travel times and pollution while boosting economic productivity and tax revenue.
The document provides the company's 3Q09 results. It highlights that traffic grew 14.5% in 3Q09 and 16.3% in 9M09. Net revenue increased 6.9% in 3Q09 and 12.4% in 9M09. EBITDA grew 7.5% in 3Q09 to R$518.7 million with an EBITDA margin of 65.2%. The company also paid a dividend of R$1.26 per share totaling R$507.9 million in September 2009 and completed a capital increase of R$1,098.9 million through the issue of new shares.
CCR reported strong financial results for 2Q05, with net revenues up 38.2% and net income up 372%. Traffic increased 23.3% across concessions. Total costs grew at a slower rate than revenues, leading to a 10.9 percentage point increase in EBIT margin to 38.9%. Indebtedness declined with net debt to EBITDA falling to 1.03x. The company also outlined plans to evaluate new concession opportunities in Brazil, Mexico, and Chile while continuing social responsibility programs.
CCR reported its 1Q13 earnings results. Some key highlights included:
- Traffic increased 2.0% compared to 1Q12. Electronic toll collection reached 3,875 thousand active tags, up 14.9% over March 2012.
- Net income increased 16.6% to R$336.7 million due to improved operational and financial performance.
- Adjusted EBITDA was R$783.6 million, up 7.4% over 1Q12, though the adjusted EBITDA margin declined slightly to 65.0% due to the addition of Barcas, which is still in the initial phase.
- The financial results improved, reflecting lower interest rates and active liability management, reducing
O documento apresenta os resultados financeiros da CCR no 4T15. O tráfego consolidado excluindo a Ponte e MSVia teve queda de 2,8%. O EBITDA ajustado na mesma base apresentou crescimento de 0,4% com margem de 59,8%. O lucro líquido na mesma base atingiu R$249,9 milhões, queda de 19,1% no 4T15.
Funding Innovation in the Nordics - Erik Olsson - Swedish Energy Agency - Apr...Burton Lee
The Swedish Energy Agency was established in 1998 to implement Sweden's energy policies and facilitate its transition to a sustainable energy system. It promotes new energy technologies, administers energy research programs, and disseminates knowledge. The agency has 250 employees and a budget of 2.5 billion Swedish krona (approximately $350 million). Three major challenges in Sweden are the "Swedish Paradox" of high R&D investment not leading to more innovation, a lack of venture capital for early-stage energy companies, and the need for larger amounts of funding in early stages beyond $1 million for lab verification. The agency addresses these challenges by providing financing support through loans and networking opportunities to startups.
This presentation gives an overview of the company I proudly joined a little over half a year ago. Our Vision is to Create Value for our customers, Make a profit for our sustainable growth and help society build a better world, this all based on ethical principles and a long-term vision. We are not listed and purely employee owned.
The document provides an overview of Emerson's strategic imperatives and actions to strengthen its business platforms, pursue technology leadership, globalize assets, and drive business efficiency. It discusses operating performance targets, regional sales and employment figures, and initiatives to improve supply chain management through digitization and optimized transportation programs.
2015 Sustainable Development Performance: Investor PresentationAnglo American
The document provides an overview of Anglo American's 2015 sustainable development performance and strategy. Key points include:
- Anglo American achieved its best ever safety performance in 2015 but regrets six fatalities. It aims to achieve zero harm.
- Environmental incidents continued to decline due to improved operations planning and oversight.
- The company's materiality process ensures comprehensive identification of sustainability risks.
- Sustainable development is integrated into Anglo American's strategy and critical to its objective of being a responsible partner.
- In 2016, Anglo American will focus on transforming its business by focusing its portfolio, improving delivery, enhancing processes and fostering a high performance culture.
The document provides an overview of the state of various departments in a local association. It summarizes achievements, inferences, and closing thoughts for each department. Key points include:
- Departments achieved raises, matches and realizations. Inferences note the need to improve quality, client relations, and partnerships. Closing thoughts emphasize increased focus on quality experience delivery.
- Departments achieved their visions through activities like raises, matches and realizations. Inferences identify areas for improvement like better CRM, tapping new markets. Closing thoughts recommend focusing on conversions.
- Finances overview expenses and income, with a net loss. Inferences note need to boost income from certain departments and improve deliveries.
SCA creates value by fulfilling the needs of customers and consumers in a spirit of innovation, through continuous efficiency enhancements and with a clear desire to contribute to sustainable development. The Group develops, produces and markets personal care products, tissue, packaging, publication papers and solid-wood products, and has sales in more than 100 countries. In 2010, SCA had annual sales of SEK 109bn and about 45,000 employees.
http://www.sca.com
Dave Rowland is an executive with over 15 years of experience in Fortune 500 companies seeking a new leadership opportunity. He provides extensive P&L and operations experience, including successful turnarounds. Rowland utilizes lean six sigma and other process improvement tools to drive results and has a track record of improving metrics like costs, quality, and on-time delivery. He is seeking to apply his strategic and leadership skills in a manufacturing or manufacturing services company.
The annual report summarizes ExxonMobil's strong financial results in 2006, with record net income across its Upstream, Downstream, and Chemical businesses. The company continued growing shareholder value through high dividends and share buybacks totaling $32.6 billion in returns to shareholders. ExxonMobil invested $20 billion in capital projects and advanced its portfolio of major projects, starting up seven new upstream projects. It focuses on long-term profitable growth through disciplined capital investments and a rigorous business model.
CCR is a leader in the Brazilian toll road industry with a 35% market share. It has a proven track record and strong cash flow generation from its toll road concessions. CCR is well positioned for further industry consolidation and has low capex requirements for its existing concessions. It aims to grow through acquiring new concessions and expanding its existing toll road network.
This document summarizes details of a proposed concession for the Mário Covas Ring Road - West Segment in São Paulo, Brazil. The 29.4 km segment would be granted to CCR as an onerous concession over 30 years. Key terms include a fixed grant of R$2 billion to CCR and a variable 3% of gross revenues. CCR estimates the project will generate R$14.3 billion in gross revenue over the concession. Financing would include a R$650 million bridge loan and approximately US$950 million in long-term financing. The proposal aims to improve traffic flow and safety along this segment of the ring road.
CCR is a leader in the Brazilian toll road industry with a 35% market share. It has a proven track record and strong cash flow generation from its toll road concessions. CCR is well positioned for further industry consolidation and has low capex requirements for its existing concessions. It aims to grow through acquiring new concessions and expanding its existing toll road network.
The document outlines the agenda and presentations for a planning, transparency and credibility event held in São Paulo, Brazil. The agenda included opening remarks, presentations on transport infrastructure demands in Bahia by Governor Jaques Wagner, regulatory benchmarks in Brazil's infrastructure by Professor Paulo Resende, and current business highlights from executives at CCR Group. There was also an overview of high-quality growth for CCR Group by Leonardo Vianna and Arthur Piotto, followed by concluding remarks.
CCR's 2Q06 results showed an 8.8% increase in net operating income compared to 2Q05, reaching R$512.8 million, with the number of electronic toll collection users increasing 25.3% to 599 thousand. Total costs increased 17.5% compared to 2Q05. EBIT decreased 4.8% to R$174.7 million due to factors including traffic, operating costs and financial results. CCR's entrance to the IBOVESPA stock index in March 2006 and prepayment of foreign currency debt were highlighted as subsequent positive events.
- CCR reported financial results for the fourth quarter and full year of 2012, with net revenue growth of 15.2% and 13.5% respectively compared to the same periods of 2011.
- Adjusted EBITDA increased 12.0% in 4Q12 versus 4Q11, reaching R$881.8 million, despite a contraction in the EBITDA margin. For the full year, adjusted EBITDA grew 11.5%.
- Net income increased 17.9% in 4Q12 and 30.9% for the full year 2012 due to higher cash generation and lower financial expenses despite a temporary increase in leverage ratios from new business additions.
This document summarizes CCR's 2Q13 earnings results. It reports that consolidated traffic increased 6.2% compared to 2Q12. Toll collection by electronic means grew 14.5% compared to June 2012. Adjusted EBITDA on a same-basis increased 16.8% to 67.0% margin. Subsequent events include the sale of a 10% stake in STP and a proposed interim dividend of R$0.57 per share. Key financial indicators show expansion in EBITDA margin and net income. The company has low leverage with a net debt to EBITDA ratio of 2.0x. Realized investments and maintenance expenditures are presented for main concessions.
The document summarizes the financing strategy and expansion plans for São Paulo's subway-railway system over the next 12 years. It plans to invest $18.3 billion to modernize 22% of the existing train network and increase the subway network by 30%. This will develop a 330km subway-railroad network and increase average daily ridership from 4.6 million to 8.2 million by 2022. Key projects include expanding various subway lines, upgrading existing train lines, and developing new rail connections including an airport express train and Bandeirantes Express Train. The investment is 124% higher than the previous 12 years and expected to reduce travel times and pollution while boosting economic productivity and tax revenue.
The document provides the company's 3Q09 results. It highlights that traffic grew 14.5% in 3Q09 and 16.3% in 9M09. Net revenue increased 6.9% in 3Q09 and 12.4% in 9M09. EBITDA grew 7.5% in 3Q09 to R$518.7 million with an EBITDA margin of 65.2%. The company also paid a dividend of R$1.26 per share totaling R$507.9 million in September 2009 and completed a capital increase of R$1,098.9 million through the issue of new shares.
CCR reported strong financial results for 2Q05, with net revenues up 38.2% and net income up 372%. Traffic increased 23.3% across concessions. Total costs grew at a slower rate than revenues, leading to a 10.9 percentage point increase in EBIT margin to 38.9%. Indebtedness declined with net debt to EBITDA falling to 1.03x. The company also outlined plans to evaluate new concession opportunities in Brazil, Mexico, and Chile while continuing social responsibility programs.
CCR reported its 1Q13 earnings results. Some key highlights included:
- Traffic increased 2.0% compared to 1Q12. Electronic toll collection reached 3,875 thousand active tags, up 14.9% over March 2012.
- Net income increased 16.6% to R$336.7 million due to improved operational and financial performance.
- Adjusted EBITDA was R$783.6 million, up 7.4% over 1Q12, though the adjusted EBITDA margin declined slightly to 65.0% due to the addition of Barcas, which is still in the initial phase.
- The financial results improved, reflecting lower interest rates and active liability management, reducing
O documento apresenta os resultados financeiros da CCR no 4T15. O tráfego consolidado excluindo a Ponte e MSVia teve queda de 2,8%. O EBITDA ajustado na mesma base apresentou crescimento de 0,4% com margem de 59,8%. O lucro líquido na mesma base atingiu R$249,9 milhões, queda de 19,1% no 4T15.
Funding Innovation in the Nordics - Erik Olsson - Swedish Energy Agency - Apr...Burton Lee
The Swedish Energy Agency was established in 1998 to implement Sweden's energy policies and facilitate its transition to a sustainable energy system. It promotes new energy technologies, administers energy research programs, and disseminates knowledge. The agency has 250 employees and a budget of 2.5 billion Swedish krona (approximately $350 million). Three major challenges in Sweden are the "Swedish Paradox" of high R&D investment not leading to more innovation, a lack of venture capital for early-stage energy companies, and the need for larger amounts of funding in early stages beyond $1 million for lab verification. The agency addresses these challenges by providing financing support through loans and networking opportunities to startups.
This presentation gives an overview of the company I proudly joined a little over half a year ago. Our Vision is to Create Value for our customers, Make a profit for our sustainable growth and help society build a better world, this all based on ethical principles and a long-term vision. We are not listed and purely employee owned.
The document provides an overview of Emerson's strategic imperatives and actions to strengthen its business platforms, pursue technology leadership, globalize assets, and drive business efficiency. It discusses operating performance targets, regional sales and employment figures, and initiatives to improve supply chain management through digitization and optimized transportation programs.
2015 Sustainable Development Performance: Investor PresentationAnglo American
The document provides an overview of Anglo American's 2015 sustainable development performance and strategy. Key points include:
- Anglo American achieved its best ever safety performance in 2015 but regrets six fatalities. It aims to achieve zero harm.
- Environmental incidents continued to decline due to improved operations planning and oversight.
- The company's materiality process ensures comprehensive identification of sustainability risks.
- Sustainable development is integrated into Anglo American's strategy and critical to its objective of being a responsible partner.
- In 2016, Anglo American will focus on transforming its business by focusing its portfolio, improving delivery, enhancing processes and fostering a high performance culture.
The document provides an overview of the state of various departments in a local association. It summarizes achievements, inferences, and closing thoughts for each department. Key points include:
- Departments achieved raises, matches and realizations. Inferences note the need to improve quality, client relations, and partnerships. Closing thoughts emphasize increased focus on quality experience delivery.
- Departments achieved their visions through activities like raises, matches and realizations. Inferences identify areas for improvement like better CRM, tapping new markets. Closing thoughts recommend focusing on conversions.
- Finances overview expenses and income, with a net loss. Inferences note need to boost income from certain departments and improve deliveries.
SCA creates value by fulfilling the needs of customers and consumers in a spirit of innovation, through continuous efficiency enhancements and with a clear desire to contribute to sustainable development. The Group develops, produces and markets personal care products, tissue, packaging, publication papers and solid-wood products, and has sales in more than 100 countries. In 2010, SCA had annual sales of SEK 109bn and about 45,000 employees.
http://www.sca.com
Dave Rowland is an executive with over 15 years of experience in Fortune 500 companies seeking a new leadership opportunity. He provides extensive P&L and operations experience, including successful turnarounds. Rowland utilizes lean six sigma and other process improvement tools to drive results and has a track record of improving metrics like costs, quality, and on-time delivery. He is seeking to apply his strategic and leadership skills in a manufacturing or manufacturing services company.
The annual report summarizes ExxonMobil's strong financial results in 2006, with record net income across its Upstream, Downstream, and Chemical businesses. The company continued growing shareholder value through high dividends and share buybacks totaling $32.6 billion in returns to shareholders. ExxonMobil invested $20 billion in capital projects and advanced its portfolio of major projects, starting up seven new upstream projects. It focuses on long-term profitable growth through disciplined capital investments and a rigorous business model.
The document provides information about the Ferndale Downtown Development Authority (DDA) including its budget, goals, and impact. It summarizes that in 2011, the DDA facilitated $1.9 million in reinvestment and 86 new jobs, and its goals for 2013 include refining how it promotes downtown Ferndale, empowering stakeholders, and making the downtown accessible for all. Over its history, the DDA has increased occupancy rates by over 25% and supported over $59 million in reinvestment.
The 18th Annual Awards for Excellence in BPM & Workflow recognize outstanding implementations from around the world that demonstrate innovation, successful implementation methodology, and business impact. A panel of expert judges will evaluate finalists across categories including Europe, North America, Middle East/Africa, Pacific Rim, and South and Central America. Winners will be announced at the awards ceremony.
Value-Driven BPM and SOA - Lessons LearnedJimmy Chou
This document summarizes a presentation about a company's efforts to transform its business processes and technology through a value-driven business process management and service-oriented architecture project. The project aimed to address issues with the company's legacy systems and processes that were inhibiting growth. Key lessons learned included the importance of focusing on business value, aligning business and IT strategies, and ensuring buy-in from stakeholders through effective communication. While success would be a long road, the presentation emphasized that great leadership and execution would be required to fully realize the benefits of the project.
This presentation provides an overview of the change management work completed in support of United Business Transformmation Office. I served as the BTO\'s change communications lead for all operational changes.
Implementing Copyright Collective Management: A Comparison of Malaysia and Th...supatchara
This document compares the implementation of copyright collective management organizations (CMOs) in Malaysia and Thailand. It finds that the Malaysian CMO (MACP) has been more successful than the Thai CMO (MCT) in collecting royalties for composers. To improve, Thailand needs to better align stakeholders like the government, recording companies, CMO, and composers. The success of a CMO is indicated by representing most domestic and international repertoire, collecting reasonable royalties at low costs, and transparently distributing royalties quickly. Thailand can learn from Malaysia's example to strengthen rights protection, increase awareness, and ensure CMOs operate as non-profit organizations.
John Pratt has over 30 years of experience in accounting, financial control, and commercial management roles. He has worked in various industries including mining, construction, sugar milling, and power generation. His experience includes budgeting and financial reporting, contract administration, ensuring statutory compliance, and providing commercial and strategic advice to management. He holds a Bachelor of Business in Accounting, Bachelor of Science in Geology, and is a Certified Practicing Accountant.
Graham Walker- SMART Transformation Compilationeventwithme
This document summarizes an upcoming smart transformation seminar. The seminar will discuss whether transformation works, where it is happening successfully, and the secrets to successful transformation. There will be four presentations: an introduction from Chair Graham Walker; Karen Bridges discussing Birmingham City Council's transformation journey; Matt Jenkins on "Managing for Delivery" at Welsh Assembly Government; and Andrew Fearn on making transformation a reality in the NHS. The seminar will conclude with a Q&A plenary session.
Lear Corporation reported first quarter 2007 financial results with improved operating performance and an updated outlook for 2007, while continuing global restructuring initiatives and expanding their presence in Asia. First quarter results were positively impacted by new global business wins and cost performance, but negatively impacted by lower North American production volumes. Reported results included various one-time costs and gains related to restructuring actions, divestitures, and the proposed merger transaction.
This document summarizes a presentation given by Viren Lall, Secretary of the APM Benefits SIG and Head of Business Transformation at BT, on keeping business management (BM) simple, workable and alive during business transformation (BT) efforts. Some key challenges discussed include BM being seen as a separate task by consultants, analysts and architects rather than an integrated process. The presentation outlines efforts by BT to address these challenges, such as simplifying BM training, providing clear direction on mapping benefits, and motivating transformation professionals to find more benefits. Keeping BM ownership clear and ensuring maps are 80% correct but fully owned is emphasized as more important than striving for 100% accuracy.
This document provides an overview of Camargo Corrêa Desenvolvimento Imobiliário (CCDI), a Brazilian real estate development company. CCDI operates in multiple market segments, including low-income, traditional, and luxury ("Triple A") projects. In 2010, CCDI accelerated its growth, launching 27 projects with over 8,000 units and R$1.5 billion in potential sales value. CCDI also expanded regionally, with new offices launching projects in Rio de Janeiro, Espírito Santo, Minas Gerais, and Paraná. Going forward, CCDI aims to continue growing its operations while maintaining a focus on costs, innovation, and client satisfaction.
- Traffic fell 3.9% in 4Q18 compared to 4Q17, excluding suspended axle exemptions traffic increased 0.4%
- Adjusted EBITDA increased 3.6% in 4Q18 on a same-basis compared to 4Q17, with an adjusted margin of 61.7% (+0.4 percentage points)
- Same-basis net income in 4Q18 totaled R$356.9 million, down 21.1% from 4Q17
Este documento apresenta os resultados financeiros da CCR no quarto trimestre de 2018. Os principais pontos são:
1) O tráfego consolidado apresentou redução de 3,9%, enquanto o EBITDA ajustado cresceu 3,6% em relação ao mesmo período do ano anterior.
2) O lucro líquido atingiu R$356,9 milhões na mesma base de comparação, representando uma queda de 21,1%.
3) Eventos subsequentes incluem a assinatura do contrato de concessão da ViaSul e
O documento apresenta os resultados financeiros da CCR no 2T18. O tráfego consolidado teve redução de 5,5% em relação ao ano anterior. O EBITDA ajustado cresceu 1% na mesma base de comparação, com margem de 58,3%, enquanto o lucro líquido reduziu 5,2%. Novos negócios e eventos subsequentes são destacados.
- 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$16.6 billion as of June 30, 2018, with an average cost of debt of C
- Traffic grew 2.3% consolidated and 3.1% proforma including recent acquisitions
- Adjusted EBITDA increased 9.3% on a same-basis and 17.0% reported, with margins of 62.0% and 62.2% respectively
- Net income grew 32.3% on a same-basis and 35.8% as reported
Este documento apresenta os resultados financeiros da CCR no primeiro trimestre de 2018, destacando:
1) O tráfego consolidado cresceu 2,3% e o EBITDA ajustado aumentou 9,3%;
2) O lucro líquido atingiu R$ 446,8 milhões, um crescimento de 35,8%;
3) A dívida bruta total é de R$ 17,3 bilhões, com alavancagem de 2,2x medida pelo índice Dívida Líquida/EBITDA.
- Traffic grew 4.4% in 4Q17 compared to 4Q16. Adjusted EBITDA increased 17.9% on a same-basis compared to 4Q16, with a margin of 61.3% (+2.9 percentage points).
- Net income totaled R$329.1 million, up 94.2% compared to 4Q16. The company's board proposed additional dividends of approximately R$0.20 per share.
- In January 2018, the company was selected as the best bidder to operate subway lines 5 and 17 in São Paulo through 2038.
O relatório apresenta os resultados financeiros da CCR no 4T17, destacando:
1) Crescimento de 4,4% no tráfego consolidado e de 17,9% no EBITDA ajustado na mesma base em relação ao 4T16;
2) Lucro líquido de R$329,1 milhões no 4T17, aumento de 94,2% em relação ao 4T16;
3) Proposta de distribuição de dividendos complementares de R$0,20 por ação.
This document summarizes the key points from a presentation on organization, focus, and governance for perpetuating success at CCR Group. It discusses CCR's expansion from 5 companies in 2005 to over 20 companies in 2017 across roads, urban mobility, airports, and services in Brazil and internationally. The presentation outlines CCR's organizational structure and roles, as well as business opportunities in roads, urban mobility projects, and other markets in Brazil, Chile, and Argentina. Traffic trends, economic indicators, and specific projects are also mentioned.
O documento discute estratégias para perpetuar o sucesso da organização no futuro, abordando tópicos como organização, foco e governança. Apresenta o histórico de crescimento da empresa e oportunidades em contratos atuais e novos negócios no Brasil e no exterior.
- Traffic grew 4.1% in 3Q17 compared to 3Q16. Adjusted EBITDA on a same-basis grew 5.7% with margins of 63.8% (+0.6 p.p.). Net income on a same-basis grew 63.1%.
- Cash costs were up 2.0% on a same-basis to R$731 million due to inflation adjustments. Adjusted EBITDA was up 5% on a same-basis to R$1.28 billion.
- Gross debt was R$14.7 billion, with net debt/EBITDA of 2.2x. The company raised R$1.295 billion in new debt in 3
O documento apresenta os resultados financeiros da CCR no 3T17, com destaque para:
1) Crescimento de 4,1% no tráfego consolidado e de 5,7% no EBITDA ajustado na mesma base em comparação com o 3T16.
2) Lucro líquido de R$ 472,3 milhões no trimestre, queda de 59% devido a efeitos não recorrentes no 3T16.
3) Endividamento bruto de R$ 14,7 bilhões, com alavancagem de 2,2x medida pelo í
- Traffic fell 0.8% while adjusted EBITDA increased 69.7% and net profit increased 357.9%
- The company acquired control of ViaQuatro and an additional stake in ViaRio
- Adjusted EBITDA on a same-basis increased 4.8% due to cost optimization efforts despite lower traffic
- Net debt to EBITDA was 1.8x due to strong earnings growth and debt refinancing at lower interest rates
O documento apresenta os resultados financeiros da CCR no 2T17. O tráfego consolidado teve queda de 0,8%, enquanto o EBITDA ajustado cresceu 69,7% e o lucro líquido aumentou 357,9%. Na mesma base, o EBITDA subiu 4,8% e o lucro líquido cresceu 195,8%. A dívida líquida total é de R$14,7 bilhões.
- Traffic fell 0.8% while adjusted EBITDA increased 69.7% and net profit increased 357.9%
- Key corporate events included acquiring control of ViaQuatro and increasing stake in ViaRio
- Financial highlights showed increases in revenues, adjusted EBITDA, and net income, while margins expanded significantly
- Costs grew due to variable compensation, collective bargaining agreements, and one-off acquisition effects
- Fundraising efforts in the quarter raised over R$1.3 billion, while debt metrics like net debt/EBITDA remained stable
O documento apresenta os resultados financeiros da CCR no 2T17. O tráfego consolidado teve queda de 0,8%, enquanto o EBITDA ajustado cresceu 69,7% e o lucro líquido aumentou 357,9%. Na mesma base, o EBITDA subiu 4,8% e o lucro líquido cresceu 195,8%. A dívida líquida total é de R$14,7 bilhões.
- Traffic fell 2.8% in 1Q17 compared to 1Q16. Adjusted EBITDA increased 3.9% to R$1.03 billion with a margin of 61.0%.
- Net income was R$329.0 million, down 32.9%. Excluding new businesses, net income was R$338.5 million, down 46.6%.
- Gross debt was R$14.9 billion, up 1.1%. Net debt to EBITDA was 1.8x. The Company raised R$362 million in local debt and USD$8 million in international loans.
Este documento fornece um resumo dos resultados financeiros da CCR no primeiro trimestre de 2017, destacando:
1) O tráfego consolidado apresentou queda de 2,8%, enquanto o EBITDA ajustado cresceu 3,9% e a margem EBITDA foi de 61%;
2) O lucro líquido alcançou R$ 329 milhões, aumento de 32,9%;
3) As principais captações no trimestre somaram R$ 362,3 milhões.
- Traffic fell 7.0% in 4Q16 compared to 4Q15. Adjusted EBITDA increased 0.4% with a margin of 58.4% (+0.2 p.p.).
- Net income totaled R$169.5 million, down 30.8%. Same-basis net income was R$214.4 million, down 12.9%.
- In February 2017, the Company announced the completion of a primary share offering that raised R$4.07 billion through the issue of 254 million new shares.
O documento apresenta os resultados financeiros da CCR no 4T16, com ênfase nos seguintes pontos:
1) O tráfego consolidado apresentou queda de 7%, enquanto o EBITDA ajustado cresceu 0,4% e a margem foi de 58,4%;
2) O lucro líquido atingiu R$169,5 milhões, queda de 30,8%;
3) Em evento subsequente, foi realizada uma oferta de ações que levantou R$4,07 bilhões.
2. Agenda
Registration and Breakfast 08:30-09:00 am
Welcome and Agenda Presentation 09:00-09:10 am
Renato Vale – CEO
Scenario of the Toll Road Concession Industry 09:10-09:50 am
Dario Rais Lopes – Secretary of Transportation for the State of São Paulo
José Alexandre N. Resende – General Director of the National Agency for
Land Transportation
Corporate Positioning 09:50-10:20 am
Renato Vale – CEO
Coffee break 10:20-10:40 am
3. Agenda (cont.)
View on Current Businesses 10:40-11:10 am
Italo Roppa – Management Vice-President
New Businesses 11:10-11:40 am
Marcio Batista – Executive Vice-President
Financial Strategy 11:40 am-12:20 pm
Ricardo Froes – CFO and IR Officer
Questions and Answers 12:20-1:00 pm
Closing Lunch 1:00 pm
4. Scenario of the Toll Road Concession Sector
Dario Rais Lopes and José Alexandre N. Resende
8. Corporate Convergence
• Partners share objectives and views;
• There is not an exclusive controlling shareholder;
• Shared management;
• Board members are extremely dedicated and have profound knowledge
of the business;
• The company’s interests are above those of its controlling shareholders;
• Permanent guidance towards building capacity and improving results;
• Participative style – intense dialogue;
9. Transparency
• Because it is a public service concessionaire, CCR is bound to provide
all relevant information to the Regulatory Agencies, which publicly
disseminate it;
• Because its long term debt is funded by multilateral institutions (IFC and
BID) and BNDES, in the Project Finance model, the concessionaires are
constantly under auditing from these institutions
• All information will are treated with great transparency:
Financial Statements reconciled to meet US GAAP requirements;
10. Novo Mercado
• CCR made its IPO as a Novo Mercado company:
Respect for minority shareholders’ rights
All shares are common;
Tag Along.
Information transparency;
Responsible accountability;
Transparency towards stakeholders.
11. Novo Mercado (cont.)
• Direct disclosure of all relevant facts;
Open Conference Calls;
Publications;
Providing requested information:
to Minority Shareholders;
to Market Analysts;
to the Press;
Periodic non-deal road shows in Brazil and abroad;
Personalized visits to the main minority shareholders;
Site on the internet with updated information.
12. Corporate Governance
• Creation of CCR Center for Corporate Governance with Fundação Dom
Cabral
• Discussion of CCR Governance Case in the academic environment
13. Governance Components
• Board of Directors
Defines strategic guidelines and general objectives;
Follows the Company’s performance and results;
Sends issues to the Committees;
Makes decisions requested by the Executive Officers;
Proposes initiatives to Executive Officers.
14. Governance Components (cont.)
• Committees
Each committee has a specific scope;
They do not take executive actions;
They make a profound study of the matters within
their scope;
They issue opinions for the decisions of the Board
of Directors.
• Executive Officers
Manages the Company;
Proposes decisions to the Board of Directors;
Maintains the Board of Directors informed.
16. Social Responsibility
EDUCATION
Instituto Caminhos para Vida
• “Road of Life Institute”
Estrada para a Cidadania
• “Road to Citizenship”
Sou 10 no Trânsito
•“ I am a “A” grade driver”
Health
VidaBAn – “BAnLife”
SorrisoBAn “BAnSmile”
Rodopac
ENVIRONMENT
Saúde do Caminhoneiro -
“Truckers Health” Environment
Parto Humanizado protection projects
“Humanized Delivery”
17. Main Highlights
• First company to be listed at Novo Mercado
• Gross Revenues (LTM) ~ R$ 2 billion
• Market value (11/16/2005): ~R$ 6.3 billion
• Roads extension: 1,452 km
• Total daily users: > 1.5 million
• Capital expenditures + conservation expenses since the beginning of the
concession:
R$ 7.9 billion (base value 2005)
18. CCR System Business
To make possible investment solutions and services in
Roads Infrastructure, contributing for the social-economic
development
19. Corporate Strategy
Focus: Growth, profitability and liquidity
• To be a key player in the toll roads concession market in Latin America,
extending this role to the whole continent
• To emphasize correlated businesses that brings advantages and
significantly contributes for the CCR’s MVA, without compromising its focus
on its core business: toll roads concessions.
• To make CCR shares known in the Brazilian and international capital
markets through its solid and wide track record of growth, profitability,
dividends payment and to be recognized by the quality of managing and
services rendered.
20. Business Strategy
Focus: Quality Relationship
• To be distinguished among the main audiences by the
competence of our institutional relationship.
21. Phase 1 Phase 2 Phase 3
2005…
CCR Historical
2004 / 2005
Evolution 2003
•New
2002 Aprimora-
New Public Chalenges
Novos
mento
2001 Offering and Desafios
Permanente
New
Novo ViaOeste
2000 Management
Posicionamento Acquisition
• to effect
growth
IPO de Gestão
Positioning • Oferta • Efetivar
1999 IPO and
e Pública • New
Crescimento
1998 Re-
Reorganiza-
Reorganiza --
Reorganiza- Planej.
strategic
Sócio
Sócio
Strategic organization integrated plan • Imp. Modelo • Iniciar Novo
positioning
Seeking for estratégico ção Integrado Gestão Ciclo de
Busca sócio estratégico
Busca sócio partner Planejamento
strategic Growth Project • Consolidação
estratégico
estratégico Proj. Crescer
Início das
Início das partner Crescer -
Startup Ousar
Def. inicial
Def.. inicial atividades
atividades PDE
Startup
operações
operações
Definition “Venture”
Proj. Ousar
Project
Evolução natural na estrutura organizacional e na governança structure
Natural evolution of corporate governance and organizational
Source: CCR
22. New Strategic Positioning
• New CCR evolution phase imposes growth
challenges towards 4 strategic paths:
value creation in the current portfolio;
value creation from new concessions in Brazil and
new opportunities in existing contracts;
value creation in operations abroad
value creation from related businesses
23. Renato Vale
Strategic Management CEO
Vice – President
Officer (*)
Marcio Batista
Marketing and Institutional
Communication Relations
Vice-Presidentefor
Vice-President de Vice-President
Marcio Batista Desenvolvimento
Business Business Ítalo Roppa
de Negócios
Development (**) Management
New Business CFO and IRO Planning and Corporate
Legal
Officer Officer Controlling Development
Officer Officer
Leonardo Vianna
.. Massami Uyeda Ricardo Froes Francisco Mendes Antonio Linhares
Other Businesses STP Engelog Concessionaires Actua
CEO CEO and Officer CEO
Same officer with a double role
(*) working as a co-manager in the business strategic management
Business Unit
(**) Works with focus and responsibility in the development and conquering of businesses
24. Corporate Positioning: Focus on Growth
• Leader in the toll road concessions industry in Latin America
• Well positioned for a consolidation in the industry
• Organizational structure is prepared for quality growth
• Resilient to economic fluctuations
• Strong cash flow generation
• Committed controlling shareholders
• Strong commitment to corporate governance standards
• Well known in the market
26. CEO
CCR
Business Management Process
Organizational
Leadership
Marketing and Structure
Institutional
Communication Relations
Vice-President
Process
Support Vice-President of Business
Business Management
Development
New CFO and Planning and Corporate
Legal Investor
Businesses Controlling Development
Officer Relations Officer
Officer Officer Officer
Other Businesses STP Engelog Concessionaires Actua
Conquered CEO CEO CEO
Officer
27. Concessionaires
Role in the Business:
• To integrate the many audiences involved in the business, becoming
known by the clients and by all related audiences as the best option
for transportation of people, assets and benefits generated.
Strategy:
• To provide security, comfort, fluidity and orientation by means of
rendering standardized services to our users, as well as additional
services to segments that are sufficiently wide and homogeneous,
guaranteeing a favorable cost/benefit relation
28. CCR Concessionaires
Limeira
Campinas Buzios
Apucarana Sorocaba S. José dos
Campos
Ponta
Grossa
Current Concessions
29. CCR System
Toll Revenues
Concessionaires
3Q05
AutoBAn - 317 km
40.4%
(Apr / 2018)
NovaDutra - 402 km 26.0%
(Feb / 2021)
ViaOeste - 162 km 17.3%
(Apr / 2018)
Rodonorte - 488 km
10.8%
(Dec / 2021)
Current Concessions
Ponte - 23 km
3.8%
(May / 2015)
Via Lagos - 60 km
1.7%
(Nov / 2021)
30. Concessionaires – Relevant Information
• Roads Extension: 1,452 km
• Toll payer vehicles volume: 743,910 vehicle equivalents/day
• Number of users assisted
Medical assistance: 108 assistances/day
Mechanical assistance: 1.150 assistances/day
• Death toll reduction: 50% (1st year x 2004)
• Accidents reductions: 10% (1st year x 2004)
• User satisfaction index (DATAFOLHA): 86% average approval
• Job generation (direct + indirect): 10,440 jobs
• Taxes paid: R$ 81.8 million / year
• Number of bordering cities: 95 cities
• Population in the bordering cities 36.4 million people
• Region GDP (SP, RJ and PR states) 50% of Brazil’s GDP
33. Concessionaires – Increasing value of current contracts
• Reduction of escaping routes
Identify and reduce the number of escaping routes from the toll
plazas
• Increase collecting toll base
Broaden coverage areas, with more toll charging justice
• Incorporation of adjacent sections
Include in contract, sections/closer roads, which if isolated are not
economically viable
34. Concessionaires – Increasing value of current contracts
• Maximize other revenues
Develop and broaden other revenues generation and/or related
projects (e.g. weight control, advertisement spaces in domain
areas)
• To promote traffic
Attract and ease the implementation of traffic generating poles in
strategic position to the concessionaires
• Migration to close/mixed system
Reformulate roads to a closed/mixed toll collecting system,
reducing escapes and maximizing the toll base
35. Engelog and Actua
Business Role
• ENGELOG: Add value to business, creating distinguished road
engineering solutions
• ACTUA: Add value to business, by creating distinguished
administrative services.
36. Engelog and Actua
Strategy
• ENGELOG: Guarantee that services are rendered with standardized quality
and with the best cost/benefit relation for CCR companies
• ACTUA: Guarantee that services are rendered with patronized quality and
with the best cost/benefit relation for CCR companies
37. Engelog and Actua – Growth Drivers
• Management Quality Improvement:
Results optimization
Dissemination of best practices
Concessionaires are able to focus in their own businesses
• Allows more competitiveness
• Ready for growth
38. ENGELOG – Operating Performance
450,000 Contracts 2004 x 2005 – up to 30/September 402,958
(R$ x 1.000 current)
400,000
350,000
300,000
250,000 216,568
2004
200,000 172,672
2005
150,000
89,380 95,186
78,622 85,451
100,000
35,855 37,481
50,000 12,711 12,168
-
-
AutoBan NovaDutra Rodonorte Viaoeste Ponte/Lagos Total
AutoBan Rodonorte Ponte/Lagos
40. Summary – Current Businesses Overview
• Current Porfolio
Great investments made
Track record of good results
Rigorously following all contractual obligations
High user satisfaction levels
Recognition from different audiences
• Potential contract growth
• Potential increase in operation regions
• Growth opportunities in related business (e.g. Advertisement)
42. CCR System
Development and President Process Leadership Organizational
Business Growth Structure
Communication Institutional
and Relations
Marketing
Business Development
Operations Vice- Process
Vice-President President
Support
New CFO and Control and Business
Legal Officer Investor
Businesses Planning Development
Relations Officer
Officer Officer Officer
Other New STP Engelog Concessionaires Actua
Businesses CEO CEO - Officer CEO
43. Strategic Position
BRASIL – Road Concession
• Main Market
Maintain the leadership in road concessions
Maintain high user satisfaction levels
Maintain the recognition from the several audiences of
the benefits generated
• Strategic Attitude
Focus and pro-activity in the development of qualified
contracts
44. Strategic Position
BRASIL – Road Concession
• Main Opportunities
Federal – 2nd Phase – approx. 3,059 Km
Federal. – 3rd Phase – approx. 4,747 Km
State of São Paulo– 2nd Phase (partial) – 495 km
Porto Alegre Metropolitan Pole – 202 km
Secondary Market
• Expansion of the Road Concession Market in Brazil
Urban Concessions:- Large Metropolis
São Paulo’s Rodoanel
Other State Programs
PPP’s
46. CCR Concessionaires – and Federal Program
Programs Extension
(km)
2nd phase - Federal 3,059 CCR’s Current Concessions
3rd phase - Federal 4,747
2nd Phase - Federal
Porto Alegre’s Pole 202
3rd Phase - Federal
Total 8,008
Source: DNER / ARTESP Porto Alegre’s Pole
47. CCR Concessionaires, 2nd phase program
Limeira
Campinas
Sections Programs Extension S. José dos
Campos
SP (km)
Sorocaba
Section 01 Dom Pedro I 262.7
Section 02 A. Senna / C. Pinto 127.5
Section 03 Tamoios e Contornos 104.7
Total 494.9
Source: Transportation Secretary / SP
48. Strategic Position
BRASIL – Related Businesses
• Complementary Market
Expand current expertise in highly attractive correlated business
which complement CCR’s portfolio
Be one of the major players in the market of related businesses
Strategic Attitude
Act as promoter of businesses by developing strategic partnerships
• Main Opportunities
ITV – Technical Vehicle Inspection
TAG Additional Uses
49. Strategic Position
LATIN AMERICA
• Focus (short-term)
Establish strong presence in Chilean and Mexican
markets
• Strategic Attitude
Focus and pro-activity in the development of
opportunities in primary and secondary markets
50. Strategic Position
LATIN AMERICA
• Main Opportunities
Chile:
Country with the greatest economic stability in Latin America
Regulatory milestone and favorable government position - sharing
risks and results
EBITDA margins among 60% and 70% in road concessions
Urban integrated concessions with 100% automatic toll collection.
Traffic Law makes possible to implement the automatic toll
collection
51. Strategic Position
Chile (cont)
Average GDP growth in the last 14 years = 6%, outlook for 5% growth for
the next 5 years;
Cargo transportation: 83% per road
Fleet growth (+/- 80% of GDP in the last 15 years).
Inflation under control, with average interest rate of 5% per year
One of the 4 investment grade countries in the Americas
Risk sharing / results
Minimum revenue garanteed
Superior revenue
Variable term, preserving revenue’s NPV
52. Strategic Position
LATIN AMERICA
• Main Opportunities
Mexico:
Potencial to increase private concession penetration beyond the
current 10%
PPS
Reprivatization of the concessions operated by public companies
would represent annual revenues of US$2 billion
One of the 4 investment grade countries in the Americas
53. Original Program’s Major Problems
Main Points Consequences
•Shorter concession period • High user rates, leading to the use
Bidding as a selection criterion of the toll-free via
Process • Very optmistic traffic estimates
•Little technical rigor in of the grantor
the definition of the
executive project and
• Construction cost higher than the
estimates
license obtainment
• Delay in the acquisition of the road’s
rights and environmental licenses The original
compromise the beginning of model had a
operations series of
• Limited technical and • The control mechanisms necessary to technical
Institutional
Ambiente administrative experience guarantee the develoment of 50 and
Environment
institucional of the agencies responsible projects in the short-term were never management
for the program appropriately implemented
problems
• Public agencies with worsened by
defficient personnel •
structure Use of short-term financing subject to the economic
• Low liquidity in the capital economic fluctuations and political
market scenario of the
mid-90’s
• Inflationary pressure • Debt servicing becomes unfeasible
Source: SCT,
Economic
Crise • Sharp increase of the basic • Operating costs beyond what was
World Crisis
econômica interest rate to control planned
Bank, inflation • Disproportionate rate increase
Tem • Strong economic • Traffic much lower than expected
analysis recession
54. New Concessions Program
Main Points
• SCT develops and provides a complete project
Project
Projeto • The project is revised before the bidding and may
incorporate the participants’ comments and suggestions
• SCT establishes an average maximum rate, which will be
Rates
Tarifas updated according to the inflation
• Concessionaires may distribute rates the best possible way
among classes, as long as the average is not higher than the
maximum limit establish
• Criteria to define the winner in the following order The new
Bidding
Critérios de concession
– Lower demand for public funds
criteria
licitação program went
– Lower construction costs
through deep
– Higher risk capital inflow
changes to
• Up to the maximum limit allowed by law: correct the
Term
Duração – Greenfield Projects – maximum of 30 years mistakes made
– Brownfield Projects – maximum of 20 years
Proposals lower
• Technical/ economic issues are solved by a committee of
than 15% of the Conflict
Resolução Experts approved by both parties, in case there is no
base budgets Solving
de conflitos agreement, the parties may appeal to arbitration
Source: SCT, • Since the beginning, projects receive finacing from the federal
CCR checklist government, bank credit and risk capital
Financing
Financia-
and team analysis mento – Minimum risk inflow of 25% of the total investment
55. Strategic Position
NORTH AMERICA
• Focus (medium term)
Analyze the potential and attractiveness of USA and
Canadian markets
• Strategic Attitude
Development of opportunities in primary and
secondary markets
56. Strategic Position
NORTH AMERICA
• Recent Examples
USA:
Extensive road network and beginning of a trend towards private
concessions, for example:
Trans Texas Highway may represent an investment of more than
US$ 130 billion in a 30-year period
Chicago Skyway – privatization of the existing highway – winning
offer US$ 1.8 billion
Canada:
Government trend towards expanding PPP projects, benefitting the
public tender of road concessions
ETR-407
57. Summary – New Businesses
• Focus on markets with high qualified growth potential:
Brazil:
Toll Roads Concessions
Related Businesses
Chile and Mexico;
Analisys of US and Canadian markets
• Technical, commercial and financial qualification;
59. Long Term Financial Policy
Goals:
• maximize cash flows to shareholders (NPV dividends);
• Maximize average cost of capital (optimal capital structure);
• guarantee comfortable debt coverage ratios and credit quality
60. Long Term Financial Policy
Main guidelines:
• To finance growth, at first, by means of issuing new debt (Net Debt/EBITDA =
2.5X);
• Re-leveraging of current concessions up to the maximum adequate level
• Acquisitions made outside Brazil are preferably financed through the local
markets (possibility to work in a higher leverage level);
• Dividends policy: minimum payout of 50%
• Hedge policy (up to 1 year protection)
61. New Projects financing
• Modality: Project Finance;
• Structure: 60% debt
• 20% cash flow generation
• 20% capital increase
• Access to new long term credit lines;
• Preferably in R$
• Correlation between costs and revenues
62. Past, Present and Future
Historical consistency in delivering results and cost optimization…
Before Reorganization Before Operating and Financial Reorganization
EBITDA (R$mm)
310
59.71%
259
r owth
DA G 55%
EBIT 224
192% 216 218
55% 54%
55%
170 174
161
151
51% 52%
130 53%
128
122 44%
119
108 107 49% 47% 48% 47%
46% 3.2
46%
2.8
2.7
2.5
2.4
2.3
2.1
1.9 Net Debt / EBITDA
1.7
1.4
1.2 1.2
1.1 1.0
0.8
Interest Coverage 4.7 7.7 8.6
1Q02 2Q02 3Q02 4Q02 1Q03 2Q03 3Q03 4Q03 1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 3Q05
… as well as a lower leverage ratio
63. Consolidated debt as of September 30
R$ 1,467.4 million:
(in R$ MM) 12/31/01 12/31/02 12/31/03 12/31/04 09/30/05
Short Term 251.7 323.4 304.8 228.0 269.8
% Total 17.9% 21.4% 24.9% 20.1% 18.4%
Long Term 1,153.7 1,185.1 919.6 907.8 1,197.6
% Total 82.1% 78.6% 75.1% 79.9% 81.6%
Total Debt 1,405.5 1,508.5 1,224.5 1,135.8 1,467.5
In Reais 822.4 730.8 720.4 834.6 1,181.8
% Total 58.5% 48.4% 58.8% 73.5% 80.5%
In Foreign Currency 583.0 777.7 504.1 301.2 285.6
% Total 41.5% 51.6% 41.2% 26.5% 19.5%
Besides small, its mostly a long term debt
67. Net Income Evolution
A Consequence of efficient management
400 348
300 263
32%
183
200 44%
100
0
(100) 2002
2002 2003 2004 9M05
(200) (120)
... a historical of growing results
68. Investment Analysis - General Overview
0 1 2 3 4 5 6 Analysis 7 8
Project Análise
Context of the
Hurdle Financial do Competiti
Competiv Final
Final
Initial
Preliminary and Scenario Funding impact of Board
Analysis rate and impacto eness
ve Recome
recommen
Decision
Analysis parameters Definition analysis the new dation
evaluation definition Economics do projeto analysis ndation
project in
Analysis na CCR
CCR
Initial Understandi Constructi Project Cost of Calculation Financial Analysis of Management Decision is
analysis and ng of the on of Finance capital and impact the proposal, approved,
elimination project alternate probability estimate, interpretatio study or Competitiv related to revised or
of non- context and scenarios, analysis including n of the inclusion of eness commercial rejected
attractive studies to using shareholder project the project environme conditions
projects define the probability ’s spread indicators, in CCR nt and are taken to
important and are portfolio recommen Board’s
variables are definition of separated dation for decision
carried out the considered improving
strategic competitiv
alignment eness
69. Requirement level can vary according to the risk of each project
Adjustment can be positive
or negative, but never
higher than WACC
Weighted Sharehol Portfolio Hurdle Project or TIR
Cost of ders’ rate sharehol Spread
adjustme
Capital ders’ TIR
(WACC/ Spread ts
Ke)
70. EV/EBITDA*
14.3
• Abertis
14.3
13.8
• Brisa
13.5
10.8
• ASF
10.9
Despite the strong performance
10.2 CCR is traded with lower
• Autostrade multiples, when compared to
9.9 European companies
7.2
• CCR
6.1
• 2005E
* Analysts estimates median: Base date: 10/19/2005 • 2006E
Source: Analyst research, team analysis
71. Concluding
Focus:
Keep on creating value to shareholders
Keeping:
• Tax discipline
• Conservative profile
• Dividend policy