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.
Tim Participacoes reported its 3Q08 results. Key highlights included growing the subscriber base 20.7% YoY to 35.2 million users, stabilizing ARPU at R$29.7, and increasing EBITDA 47.5% YoY to R$799.8 million through tight expense control and lower bad debt. The company launched new convergent offers like TIM Fixo wireline telephony and expanded its 3G broadband portfolio. Operational improvements and financial discipline helped deliver on commitments to improve profitability.
Viacom reported first quarter 2005 results, with revenues up 5% to $5.6 billion led by 19% growth in cable networks. Operating income climbed 7% to $1.1 billion led by 20% growth in cable networks and outdoor and 10% in entertainment. Diluted earnings per share from continuing operations was $0.36, up from $0.35 in the prior year after excluding a tax benefit. The company is on track to deliver mid single-digit growth in revenues and operating income and high single-digit growth in earnings per share for 2005.
This document provides an overview of Virgin Media's financial and operational results for the fourth quarter of 2008. Key highlights include consumer revenue growth for the second straight quarter, a 10% reduction in SG&A expenses compared to Q4 2007, and record broadband, TV, and contract mobile customers. Operational metrics such as churn and the percentage of triple play customers also improved compared to prior year. The company continued focusing on quality growth through initiatives such as improving broadband tier mix and enriching TV content.
Localiza Rent a Car reported financial results for the first quarter of 2012 with the following highlights:
- Revenue grew 16.9% to R$774.7 million driven by a 17.8% increase in rental revenues.
- EBITDA increased 12.8% to R$210 million due to revenue growth partially offset by lower margins in the car rental division.
- Net income increased 14.3% to R$72.7 million outpacing the growth in EBITDA due to improved performance below the EBITDA line.
Localiza Rent a Car reported financial results for the first quarter of 2012 with several highlights:
- Revenue grew 16.4% compared to the first quarter of 2011 to R$774.7 million driven by a 17.8% increase in rental revenues.
- EBITDA increased 12.8% to R$210 million compared to the first quarter of 2011.
- Net income grew 14.3% to R$72.7 million compared to the first quarter of 2011.
Viacom reported record results for the first quarter of 2004, with double-digit increases in revenues, operating income, and net earnings compared to the same period last year. Revenues increased 12% to a record $6.8 billion, advertising revenues grew 21% to $3.2 billion, and operating income rose 20% to a record $1.2 billion. Net earnings increased 60% to $711 million, though excluding a one-time tax benefit would result in a 29% increase. The strong results were driven by growth across all business segments, particularly a 21% increase in revenues for cable networks and 18% increase for television.
This document provides an overview of a company's integrated business platform for car rentals and sales. It discusses the company's competitive advantages including its large fleet size, widespread locations, and ability to leverage synergies across business units. Financial details are presented showing strong profitability and returns from both the car rental and sales divisions. The company has demonstrated consistent growth and profitability over time through a focus on managing assets and pricing strategy, as well as a stable and experienced management team.
Localiza Rent a Car S.A. reported strong results for the second quarter of 2008. Key highlights include a 30.6% increase in net revenue and a 44.6% increase in EBITDA. The company continued its strategy of fleet growth, acquiring over 8,700 new cars. Despite this growth, productivity remained high as fleet utilization increased. Free cash flow before growth was R$107 million. Net debt increased to fund growth and stock repurchases but leverage ratios remained low. The company achieved gains of scale that increased operating margins and economic value added (EVA), demonstrating the benefits of its expansion.
Tim Participacoes reported its 3Q08 results. Key highlights included growing the subscriber base 20.7% YoY to 35.2 million users, stabilizing ARPU at R$29.7, and increasing EBITDA 47.5% YoY to R$799.8 million through tight expense control and lower bad debt. The company launched new convergent offers like TIM Fixo wireline telephony and expanded its 3G broadband portfolio. Operational improvements and financial discipline helped deliver on commitments to improve profitability.
Viacom reported first quarter 2005 results, with revenues up 5% to $5.6 billion led by 19% growth in cable networks. Operating income climbed 7% to $1.1 billion led by 20% growth in cable networks and outdoor and 10% in entertainment. Diluted earnings per share from continuing operations was $0.36, up from $0.35 in the prior year after excluding a tax benefit. The company is on track to deliver mid single-digit growth in revenues and operating income and high single-digit growth in earnings per share for 2005.
This document provides an overview of Virgin Media's financial and operational results for the fourth quarter of 2008. Key highlights include consumer revenue growth for the second straight quarter, a 10% reduction in SG&A expenses compared to Q4 2007, and record broadband, TV, and contract mobile customers. Operational metrics such as churn and the percentage of triple play customers also improved compared to prior year. The company continued focusing on quality growth through initiatives such as improving broadband tier mix and enriching TV content.
Localiza Rent a Car reported financial results for the first quarter of 2012 with the following highlights:
- Revenue grew 16.9% to R$774.7 million driven by a 17.8% increase in rental revenues.
- EBITDA increased 12.8% to R$210 million due to revenue growth partially offset by lower margins in the car rental division.
- Net income increased 14.3% to R$72.7 million outpacing the growth in EBITDA due to improved performance below the EBITDA line.
Localiza Rent a Car reported financial results for the first quarter of 2012 with several highlights:
- Revenue grew 16.4% compared to the first quarter of 2011 to R$774.7 million driven by a 17.8% increase in rental revenues.
- EBITDA increased 12.8% to R$210 million compared to the first quarter of 2011.
- Net income grew 14.3% to R$72.7 million compared to the first quarter of 2011.
Viacom reported record results for the first quarter of 2004, with double-digit increases in revenues, operating income, and net earnings compared to the same period last year. Revenues increased 12% to a record $6.8 billion, advertising revenues grew 21% to $3.2 billion, and operating income rose 20% to a record $1.2 billion. Net earnings increased 60% to $711 million, though excluding a one-time tax benefit would result in a 29% increase. The strong results were driven by growth across all business segments, particularly a 21% increase in revenues for cable networks and 18% increase for television.
This document provides an overview of a company's integrated business platform for car rentals and sales. It discusses the company's competitive advantages including its large fleet size, widespread locations, and ability to leverage synergies across business units. Financial details are presented showing strong profitability and returns from both the car rental and sales divisions. The company has demonstrated consistent growth and profitability over time through a focus on managing assets and pricing strategy, as well as a stable and experienced management team.
Localiza Rent a Car S.A. reported strong results for the second quarter of 2008. Key highlights include a 30.6% increase in net revenue and a 44.6% increase in EBITDA. The company continued its strategy of fleet growth, acquiring over 8,700 new cars. Despite this growth, productivity remained high as fleet utilization increased. Free cash flow before growth was R$107 million. Net debt increased to fund growth and stock repurchases but leverage ratios remained low. The company achieved gains of scale that increased operating margins and economic value added (EVA), demonstrating the benefits of its expansion.
Computacenter is a leading IT infrastructure services provider that helps customers with IT strategy, deploying technologies, and managing infrastructure. In 2008, Computacenter made progress on its strategic initiatives to ensure long-term earnings growth, including accelerating growth of contractual services, improving efficiency of services operations, broadening the range and depth of services, extending its international presence, and reducing costs of supply chain activities. Key highlights included annual services contract base growth of over 10% and launching a UK change program to transition to higher margin services and solutions.
This document discusses an integrated business platform company that operates in the car rental and used car sales industries in Brazil. It provides an overview of the company's operations, competitive advantages, and financial performance. Some key points:
- The company has over 4,000 employees and operates across Brazil and South America with over 250 locations.
- It benefits from synergies across its rental and used car sales divisions, with flexible and liquid assets that allow it to manage costs and profitability.
- Financial results show strong and consistent growth over time, with higher profitability than competitors and returns above the company's cost of debt.
- The company has consistently gained market share through organic expansion of locations across Brazil.
This presentation discusses LAN's financial results for the fourth quarter and full year of 2008. Some key points:
- For 2008, LAN saw a 28.6% increase in revenues and an 8.9% growth in capacity, with an EBITDAR margin of 19.2% excluding fuel hedging gains.
- For the fourth quarter of 2008, LAN had a 76.2% increase in operating income and a 48.3% increase in EBITDAR, driven by higher yields and lower fuel costs. The EBITDAR margin reached 27.3%.
- LAN's passenger business saw a 21.5% increase in revenues for 4Q08 from a 10.
Localiza Rent a Car S.A. reported strong financial results for 4Q11 and full year 2011. Net revenues grew 16.9% in 2011 to R$2.9 billion, while consolidated EBITDA increased 26.5% to R$821 million. The company's car and fleet rental divisions both experienced significant growth in daily rentals and revenues over the past six years. Localiza also increased its fleet size by over 18,000 vehicles in 2011 through continued investment in its business.
This document provides an overview of a company's integrated business platform, financial performance, growth track record, management structure, and strategy. Key points include:
1) The company operates in the car rental and sales industry with over 4,000 employees across hundreds of locations in Brazil and South America.
2) Financially, the car rental division generates higher margins than the used car sales division on an annual cycle, while fleet rental generates higher margins than used car sales on a two-year cycle.
3) Over the past decade the company has achieved strong and consistent revenue and profitability growth through expanding its operations, pricing strategy, and managing its assets efficiently.
Key strategic priorities for 2011-2015 include:
1) Consolidating power grid assets in the regions through acquiring inefficient owners' grids and settling tariff rates.
2) Improving quality and reliability of customer services by replacing lines/transformers and implementing innovative projects like smart grid technologies.
3) Increasing operating efficiency by working under the RAB methodology and optimizing asset management and the management structure.
The presentation provides an overview of IDGC of Centre, including its financial results, assets, service areas, and strategic goals to improve shareholder value through 2022.
CCR reported strong financial results for 4Q11 and full year 2011. Key highlights include:
- Traffic growth of 4.4% in 4Q11 and 10.8% for 2011. Electronic toll collections reached 64.4% in 4Q11.
- EBITDA growth of 31.3% in 4Q11 and 29.9% for 2011, with EBITDA margins expanding significantly.
- Net income increased 1781.9% in 4Q11 and 33.9% for 2011, benefiting from increased traffic and capital discipline.
This document provides an overview and list of utility-scale solar projects in the United States that are operating, under construction, or under development. It notes that the list includes ground-mounted solar power plants larger than 1 MW and reflects publicly announced projects. The list provides statistics on total capacity by technology and state, and examples of individual projects with details like developer, purchaser, location, and capacity.
The document is a presentation for the Russia Forum 2012 discussing preliminary results for 2011. It begins with disclaimers noting the information is from reliable sources but accuracy is not guaranteed and opinions are subject to change. It then outlines the company's key strategic priorities including improving customer service quality, investment efficiency, and energy efficiency through innovative development programs. Charts are presented benchmarking the company against peers on metrics like revenue, profits, and regulated asset base.
- The company reported higher earnings per share compared to the previous year's quarter, driven by revenue growth from acquisitions and higher commercial rental and supply chain solutions volumes.
- Fleet Management Solutions saw revenue growth from commercial rentals and fuel services, but earnings were impacted by higher maintenance costs and investments in initiatives.
- Supply Chain Solutions significantly grew revenue and earnings through the TLC acquisition and increased freight volumes.
- Total revenue and earnings per share increased compared to previous year, though some segments faced cost pressures.
Gateway Distriparks' quarterly results were below expectations due to lower volumes and increasing competition. Revenue grew 3.8% to Rs129cr but EBIDTA fell 6.5% and PAT declined 15.5% due to lower ground rent and delayed rail expansion. The analyst downgraded the stock to "Accumulate" given delays in funding and dilution from a planned equity issuance. Competition is impacting margins in the CFS segment while rail freight remains loss-making, challenging the target for breakeven PAT in FY2011.
Investment Forum VTB Capital "Russia Calling!" Oct 2011MRSK Centre
The key strategic priorities for IDGC of Centre for 2011-2015 are to increase revenue, profitability, and regulatory asset base. The presentation provides an overview of the Russian power industry structure and IDGC of Centre's position compared to other interregional distribution grid companies. Benchmark data from 2010 shows IDGC of Centre ranked second in terms of market capitalization, revenue, net profit, and regulatory asset base.
OHL Brasil is the third largest toll road concessions company in Brazil, operating 910 kilometers of toll roads. In the second quarter of 2006, OHL Brasil saw a 5.1% increase in traffic and an 8.8% increase in net service revenue compared to the previous quarter. Adjusted EBITDA was R$64.9 million with a margin of 63.9%. The company also completed an ownership restructuring process and saw a 132.3% increase in net income for the quarter.
Viacom reported its full year and fourth quarter 2004 results. For the full year, revenues increased 8% to $22.5 billion led by an 11% increase in advertising revenues. However, the company reported an operating loss due to a non-cash impairment charge of $18 billion to reduce the carrying value of radio and outdoor assets. Excluding this charge, operating income rose 14% and earnings per share grew 21%. For the fourth quarter, revenues rose 6% while the operating loss widened due to the impairment charge; excluding this, operating income rose 10% and earnings per share increased 27%.
2002* Segundo Encontro Anual Com Analistas E Investidores ApresentaçãO Fina...Embraer RI
The document discusses Embraer's second annual investors and analyst meeting. It provides an overview of Embraer's capital structure, stock dividends, third quarter results including the income statement, balance sheet, and key performance indicators. It also discusses Embraer's investments, revenue, earnings, employees, production cycle, and the differences between Brazilian GAAP and US GAAP accounting standards.
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
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.
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 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.
Computacenter is a leading IT infrastructure services provider that helps customers with IT strategy, deploying technologies, and managing infrastructure. In 2008, Computacenter made progress on its strategic initiatives to ensure long-term earnings growth, including accelerating growth of contractual services, improving efficiency of services operations, broadening the range and depth of services, extending its international presence, and reducing costs of supply chain activities. Key highlights included annual services contract base growth of over 10% and launching a UK change program to transition to higher margin services and solutions.
This document discusses an integrated business platform company that operates in the car rental and used car sales industries in Brazil. It provides an overview of the company's operations, competitive advantages, and financial performance. Some key points:
- The company has over 4,000 employees and operates across Brazil and South America with over 250 locations.
- It benefits from synergies across its rental and used car sales divisions, with flexible and liquid assets that allow it to manage costs and profitability.
- Financial results show strong and consistent growth over time, with higher profitability than competitors and returns above the company's cost of debt.
- The company has consistently gained market share through organic expansion of locations across Brazil.
This presentation discusses LAN's financial results for the fourth quarter and full year of 2008. Some key points:
- For 2008, LAN saw a 28.6% increase in revenues and an 8.9% growth in capacity, with an EBITDAR margin of 19.2% excluding fuel hedging gains.
- For the fourth quarter of 2008, LAN had a 76.2% increase in operating income and a 48.3% increase in EBITDAR, driven by higher yields and lower fuel costs. The EBITDAR margin reached 27.3%.
- LAN's passenger business saw a 21.5% increase in revenues for 4Q08 from a 10.
Localiza Rent a Car S.A. reported strong financial results for 4Q11 and full year 2011. Net revenues grew 16.9% in 2011 to R$2.9 billion, while consolidated EBITDA increased 26.5% to R$821 million. The company's car and fleet rental divisions both experienced significant growth in daily rentals and revenues over the past six years. Localiza also increased its fleet size by over 18,000 vehicles in 2011 through continued investment in its business.
This document provides an overview of a company's integrated business platform, financial performance, growth track record, management structure, and strategy. Key points include:
1) The company operates in the car rental and sales industry with over 4,000 employees across hundreds of locations in Brazil and South America.
2) Financially, the car rental division generates higher margins than the used car sales division on an annual cycle, while fleet rental generates higher margins than used car sales on a two-year cycle.
3) Over the past decade the company has achieved strong and consistent revenue and profitability growth through expanding its operations, pricing strategy, and managing its assets efficiently.
Key strategic priorities for 2011-2015 include:
1) Consolidating power grid assets in the regions through acquiring inefficient owners' grids and settling tariff rates.
2) Improving quality and reliability of customer services by replacing lines/transformers and implementing innovative projects like smart grid technologies.
3) Increasing operating efficiency by working under the RAB methodology and optimizing asset management and the management structure.
The presentation provides an overview of IDGC of Centre, including its financial results, assets, service areas, and strategic goals to improve shareholder value through 2022.
CCR reported strong financial results for 4Q11 and full year 2011. Key highlights include:
- Traffic growth of 4.4% in 4Q11 and 10.8% for 2011. Electronic toll collections reached 64.4% in 4Q11.
- EBITDA growth of 31.3% in 4Q11 and 29.9% for 2011, with EBITDA margins expanding significantly.
- Net income increased 1781.9% in 4Q11 and 33.9% for 2011, benefiting from increased traffic and capital discipline.
This document provides an overview and list of utility-scale solar projects in the United States that are operating, under construction, or under development. It notes that the list includes ground-mounted solar power plants larger than 1 MW and reflects publicly announced projects. The list provides statistics on total capacity by technology and state, and examples of individual projects with details like developer, purchaser, location, and capacity.
The document is a presentation for the Russia Forum 2012 discussing preliminary results for 2011. It begins with disclaimers noting the information is from reliable sources but accuracy is not guaranteed and opinions are subject to change. It then outlines the company's key strategic priorities including improving customer service quality, investment efficiency, and energy efficiency through innovative development programs. Charts are presented benchmarking the company against peers on metrics like revenue, profits, and regulated asset base.
- The company reported higher earnings per share compared to the previous year's quarter, driven by revenue growth from acquisitions and higher commercial rental and supply chain solutions volumes.
- Fleet Management Solutions saw revenue growth from commercial rentals and fuel services, but earnings were impacted by higher maintenance costs and investments in initiatives.
- Supply Chain Solutions significantly grew revenue and earnings through the TLC acquisition and increased freight volumes.
- Total revenue and earnings per share increased compared to previous year, though some segments faced cost pressures.
Gateway Distriparks' quarterly results were below expectations due to lower volumes and increasing competition. Revenue grew 3.8% to Rs129cr but EBIDTA fell 6.5% and PAT declined 15.5% due to lower ground rent and delayed rail expansion. The analyst downgraded the stock to "Accumulate" given delays in funding and dilution from a planned equity issuance. Competition is impacting margins in the CFS segment while rail freight remains loss-making, challenging the target for breakeven PAT in FY2011.
Investment Forum VTB Capital "Russia Calling!" Oct 2011MRSK Centre
The key strategic priorities for IDGC of Centre for 2011-2015 are to increase revenue, profitability, and regulatory asset base. The presentation provides an overview of the Russian power industry structure and IDGC of Centre's position compared to other interregional distribution grid companies. Benchmark data from 2010 shows IDGC of Centre ranked second in terms of market capitalization, revenue, net profit, and regulatory asset base.
OHL Brasil is the third largest toll road concessions company in Brazil, operating 910 kilometers of toll roads. In the second quarter of 2006, OHL Brasil saw a 5.1% increase in traffic and an 8.8% increase in net service revenue compared to the previous quarter. Adjusted EBITDA was R$64.9 million with a margin of 63.9%. The company also completed an ownership restructuring process and saw a 132.3% increase in net income for the quarter.
Viacom reported its full year and fourth quarter 2004 results. For the full year, revenues increased 8% to $22.5 billion led by an 11% increase in advertising revenues. However, the company reported an operating loss due to a non-cash impairment charge of $18 billion to reduce the carrying value of radio and outdoor assets. Excluding this charge, operating income rose 14% and earnings per share grew 21%. For the fourth quarter, revenues rose 6% while the operating loss widened due to the impairment charge; excluding this, operating income rose 10% and earnings per share increased 27%.
2002* Segundo Encontro Anual Com Analistas E Investidores ApresentaçãO Fina...Embraer RI
The document discusses Embraer's second annual investors and analyst meeting. It provides an overview of Embraer's capital structure, stock dividends, third quarter results including the income statement, balance sheet, and key performance indicators. It also discusses Embraer's investments, revenue, earnings, employees, production cycle, and the differences between Brazilian GAAP and US GAAP accounting standards.
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
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.
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 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.
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.
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.
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.
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'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.
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.
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.
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.
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 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.
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.
The document provides financial highlights and results from CCR for 1Q09. It reported a 15.4% increase in net revenue and 9.8% increase in EBIT. EBITDA grew 13.1% compared to 1Q08. Traffic increased 16.3% in 1Q09 driven primarily by its toll road concessions. The results demonstrate the resilience of CCR's business model amid economic fluctuations. CCR also provided updates on acquisitions, dividends, and traffic trends by concession in the period.
EDP Energias do Brasil reported its 2Q09 results. Key highlights include: 4%
- EBITDA of R$344 million and net income of R$213 million
- Energy volume sold by generation business up 29% year-over-year 18%
- Unveiling of full commercial operations at Santa Fé SHP
- Net revenue fell 1% due to elimination of Enersul figures 78%
- Manageable expenses down 12% for the sixth quarter in a row
- Approval and signature of long-term financing for Pecém I project
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The presentation provides financial and operational details on EDP
CCR reported its 1Q12 earnings results, which showed increases in several key financial metrics compared to 1Q11:
- Traffic increased 5.1%
- EBITDA increased 17.9% to R$780.5 million, with the margin expanding 1.9 percentage points to 65.3%
- Net income increased 64.7% to R$288.6 million
The earnings growth was driven by increased cash flow generation from higher traffic and tariffs, combined with reductions in operational costs and financial expenses. Subsequent to 1Q12, CCR also reported the acquisition of an 80% stake in BARCAS and being awarded the concession for Transolímpica.
This document provides an overview of Virgin Media's financial and operational results for the fourth quarter of 2008. Key highlights include consumer revenue growth for the second straight quarter, a 10% reduction in SG&A expenses compared to Q4 2007, and record broadband, TV, and contract mobile customers. Operational metrics such as churn and the percentage of triple play customers also improved compared to prior year. The company continued focusing on quality growth through initiatives such as improving broadband tier mix and enriching TV content.
This document summarizes OHL Brasil's 2Q08 earnings conference call. Key points include:
1) Traffic in OHL Brasil's concessions increased 12.1% in 2Q08. Adjusted EBITDA grew 24.7% to R$107.8 million and net income grew 12.9% to R$18.9 million.
2) OHL Brasil invested R$47.4 million in initial works for its new federal concessions in 2Q08 and expects to begin toll collection by the end of 2008.
3) OHL Brasil continues to analyze new concession opportunities in Sao Paulo, Bahia, additional federal routes, Minas Gerais
The document summarizes OHL Brasil's 2Q08 earnings conference call. It discusses a 12.1% increase in traffic volume across its concessions. Adjusted EBITDA grew 24.7% to R$107.8 million in 2Q08, while net income increased 12.9% compared to the same period in 2007. It also notes changes in accounting practices required by new legislation and reviews key financial results including net revenue, EBITDA margins, and the financial result.
The document provides a summary of CCR's current portfolio and financial results for 3Q08. It discusses the company's operating highlights, including traffic growth and revenue increases. It also covers CCR's indebtedness levels, CAPEX schedule, and provides an overview of each concession. The presentation aims to inform investors about CCR's business performance and outlook.
1) CCR reported strong financial results for 2Q08 and 1H08, with net revenue growth of 14.3% and 14.0% respectively, and net income growth of 13.3% and 13.6% respectively.
2) Traffic grew 9.4% in 2Q08 and 8.4% in 1H08, demonstrating continued growth in the business.
3) CCR continues to focus on expanding its concessions portfolio through investments in existing assets and pursuing new concession opportunities.
The document provides financial results for CCR for 4Q08 and full year 2008. Some key highlights include:
- Net revenue increased 15.9% in 4Q08 and 16.2% for the full year. EBITDA grew 29.2% in 4Q08 and 20.1% for the full year.
- Traffic increased 7.3% in 4Q08 and 8.4% for the full year. The number of tag users grew 43.5% compared to the end of 2007.
- Management proposes an additional dividend payment of R$0.35 per share for 2008, subject to shareholder approval.
This document is a disclaimer for an investment presentation by Profarma. It states that the presentation does not constitute an offering or form the basis of any contract. The information provided should not be relied upon for investment decisions and contains forward-looking statements that are subject to risks. The document contains summary information that is not intended to be complete without additional context.
The document summarizes CCR's 2Q12 earnings results. Key highlights include an 11% increase in net revenues compared to 2Q11, a 13.4% increase in EBITDA with margins up 1.3 percentage points, and a 37.7% increase in net income. Traffic increased by 1.4% while electronic toll collections reached 67.4% of revenues. EBITDA margins expanded due to increased cash generation and cost reductions, including lower concession fees, personnel costs, and maintenance provisions.
CCR reported strong financial results for 1Q07, with a 4.6% increase in traffic, 6.1% revenue growth, and 27.3% higher net income. Key highlights included a 35% rise in electronic toll collection users and being selected as the preferred bidder for a new highway concession. Operating efficiency contributed to margin expansion, as total costs declined 5.3% despite traffic growth. The results reflect CCR's focus on cost management. CCR also paid out dividends of $455.6 million for fiscal year 2006, representing an 83.2% payout ratio.
This document summarizes CCR's 3Q11 earnings results. It shows that revenue grew 25.6% in 3Q11 driven by a 10.7% increase in traffic and an 11.3% increase in tariffs. EBITDA grew 41.5% in 3Q11 with margins expanding 7.5 percentage points to 67% due to traffic growth and cost discipline. The net financial result was negatively impacted by exchange rate variations, but excluding this effect would have been in line with the company's growth period. Leverage ratios remain stable and a pro forma analysis shows net income could have been 15% higher if exchange rates had remained stable.
This document presents the pro forma consolidated results for CCR for 2010. Key highlights include:
- Net revenue increased 22.2% to R$3.775,9 billion while net income grew 17.5% to R$745,4 million.
- Traffic grew 24% in 2010, with a 12.1% increase without acquisitions. Electronic payment tags increased 38.2%.
- Management proposes distributing R$100,775 thousand in dividends for 2010, resulting in a 126.7% payout ratio.
- In October 2010, CCR acquired SPVias for R$1.3 billion to expand its road network.
CCR reported its 3Q12 earnings results. Net revenues increased 13.3% compared to 3Q11. EBITDA grew 4.5% to R$860.1 million despite a temporary contraction in EBITDA margin. Net income was up 18.9% to R$316.8 million, benefiting from lower financial expenses and debt refinancing. Traffic across CCR's concessions increased between 2.1-16.7% compared to 3Q11. The company also noted the conclusion of new business acquisitions in 3Q12 and subsequent events.
CCR reported financial results for 2006 with net revenue increasing 9.8% to R$2,145 million and net income up 9.3% to R$547.3 million. Traffic increased 5.4% for the year. The company continues to focus on cost control while making capital expenditures to support growth. CCR is also looking to expand into new markets like Mexico, Chile and the United States while remaining focused on opportunities in Brazil.
This document provides a summary of PETROBRAS' 1st quarter 2006 earnings conference call. The summary includes:
- PETROBRAS' net income decreased 18% compared to the previous quarter due to higher tax payments.
- Domestic oil and NGL production increased 14% year-over-year due to new platform start-ups.
- Lifting costs increased 6% quarter-over-quarter mainly due to a 3% real appreciation and lower production volumes.
- Refining costs decreased 6% from the previous quarter due to fewer planned refinery stoppages.
This document summarizes the business of Localiza, an integrated vehicle rental company in Brazil. It outlines Localiza's competitive advantages including its large scale, network of locations, and synergies across business units. The document also reviews Localiza's financial performance, showing consistent growth and profitability above industry levels. It identifies opportunities for further expansion through organic growth and industry consolidation. Brazil's improving macroeconomic conditions and trends of increasing consumption and investment are expected to drive continued growth in the vehicle rental market.
Similar to C:\fakepath\2 q10 apresentação-english (20)
- 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$4,07 bilhões.
1. Well Planned Past. Proven Track Record. Ready for the Future.
2Q10 Results
2. Forward-Looking Statement
This presentation contains certain statements that are not reported financial results or other
historical information, but rather are forward-looking statements.
Because these forward-looking statements are subject to risks and uncertainties, actual
future results may differ materially from those expressed in or implied by the statements.
Many of these risks and uncertainties relate to factors that are beyond CCR’s ability to
control or estimate precisely, such as future market conditions, currency fluctuations, the
behavior of other market participants, the actions of governmental regulators, the
Company's ability to continue to obtain sufficient financing to meet its liquidity needs; and
changes in the political, social and regulatory framework in which the Company operates or
in economic or technological trends or conditions, inflation and consumer confidence, on a
global, regional or national basis.
Readers are cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date of this document. CCR does not undertake any obligation
to publicly release any revisions to these forward looking statements to reflect events or
circumstances after the date of this presentation.
4. 2Q10 Highlights
Operating
Traffic grew by 22.8% in 2Q10 and 21.0% in 1H10. Using the same traffic base, traffic
increased 12.2% and 11.3% respectively.
The number of AVI (electronic toll system) users rose 41.0% compared to 1H09, totaling
2,168,000 active tags.
Corporate
Company’s Management proposed distribution of intermediate dividends in the amount
of R$ 1.25 per share, totaling R$ 551.7 million.
5. 2Q10 Highlights
Subsequent Events
On August 3, 2010 the Company announced to the market that its Companhia de
Participações em Concessões (CPC) subsidiary signed a Contract for Purchase and
Sale of Shares and Quotas and Other Covenants for the direct and indirect acquisition
of 73.45% of the capital stock of the Rodovias Integradas do Oeste S/A concessionaire.
The Company’s investment, subject to adjustments pursuant to the Contract for
Purchase and Sale of Shares and Quotas and Other Covenants, will be R$ 947.2
million. The conclusion of the acquisition is subject to precedent conditions foreseen in
the Contract for Purchase and Sale of Shares and Quotas and Other Covenants, what
authorization of the Granting Power, the liberation of guarantees supplied by the Sellers
and/or their affiliated companies to the creditors of Rodovias Integradas do Oeste S/A
and the favorable conclusion of the acquisition of the remaining portion of the capital
stock of Rodovias Integradas do Oeste S/A.
6. Consolidated Results
Another quarter of solid operating results, even though...
Financial Indicators (R$ MM) 2Q09 2Q10 Chg % 1H09 1H10 Chg %
R$ Milhões
Net Revenue 736,8 899,7 22,1% 1.452,8 1.737,0 19,6%
(1)
Total Costs 384,8 484,1 25,8% 755,1 916,4 21,4%
EBIT 352,1 415,8 18,1% 697,7 820,6 17,6%
EBIT Margin 47,8% 46,2% -1,6 p.p. 48,0% 47,2% -0,8 p.p.
(2)
Depreciation and Amortization 114,6 139,0 21,3% 223,7 274,3 22,6%
EBITDA 466,6 554,8 18,9% 921,4 1.094,9 18,8%
EBITDA Margin 63,3% 61,7% -1,6 p.p. 63,4% 63,0% -0,4 p.p.
Net Financial Results (66,0) (146,5) 121,9% (148,9) (293,3) 96,9%
Income Tax and Social Contribution (102,4) (112,3) 9,7% (207,6) (233,8) 12,7%
Minority Shares (1,7) (0,8) -55,8% (3,4) (1,7) -49,1%
Net Income 181,9 156,2 -14,1% 337,8 291,7 -13,7%
... small businesses at the ramp-up of a temporary increase in maintenance
costs and higher debt.
(1) Total Costs + Administrative Expenses
(2) Includes prepaid expenses
7. Traffic (Equivalent Vehicles - million)
Consolidated – 22.8%
tal VEQ
2Q10 x 2Q09 To
%
E Q – 16.6
Total V
CAGR
* CAGR excluding ViaOeste: 14.6%
Traffic Variation by Concessionaire
9
9. Costs Breakdown
The search for greater operational efficiency enabled…
R$ million 899.7
736.8
635.3
555.7
484.1
384.8 13% Other
13% Payroll
19%
49%
49%
52%
51%
51%
Concession Fee and
345.5 20%
313.9 Prepaid Expenses
14%
16%
12% Third-Party Services
54%
54%
56%
22% 17%
22% D&A
52%
13% 27%
14% Net Revenue
24%
25% 26%
26% 25% 27% 25%
2Q07 2Q08 2Q09 2Q10
... stability margins, even with projects in ramp-up.
Other: insurance, rent, marketing, travel, electronic payment and material for conservation and maintenance.
Third-Party Services: auditing, consulting, shared services and routine maintenance. 11
10. Ebitda margin
The expansion of EBITDA margin is on long-term goal…
...that can be seen in the recent past, despite the imponderables.
12
11. Indebtedness
The company's current leverage, gives comfort to…
Gross Debt Net Debt / EBITDA LTM
5.374 3.456
5.069 3.068 3.076
78%
3.931 77%
1,6x 1,6x
1,5x
1.770
94%
2.248
1,1x
97%
33% 53% 17% 17%
…the development of the portfolio through strong investment capacity.
* O endividamento (bruto e líquido) apresentado acima considera os custos de transação.
13
12. Amortization Schedule and Debt Breakdown
The amortization schedule, consistent with the cash flows...
R$ MM
... operating assets, is a fundamental strategy of the CCR.
* The gross and net debts presented above consider transaction costs. 14
13. Net Financial Result
Natural impact on DRE of any company in an expansion ...
Net Financial Result (R$ MM) 2Q09 2Q10 Chg % 1H09 1H10 Chg %
Net Financial Result (66,0) (146,5) 121,9% (148,9) (293,3) 96,9%
Financial Expenses: (139,2) (247,8) 78,1% (285,6) (553,8) 93,9%
- Exchange Rate Variation - (61,3) n.m. (5,5) (148,4) n.m.
- Losses from Hedge Operation (29,4) (22,6) -23,1% (43,5) (54,8) 26,0%
- Monetary Variation - (17,0) n.m. (1,7) (35,1) n.m.
- Interest on Loans, Financing and Debentures (103,0) (122,7) 19,1% (213,8) (232,9) 8,9%
- Other Financial Expenses (6,8) (24,2) 255,8% (21,1) (82,6) 291,1%
Financial Income: 73,2 101,4 38,7% 136,7 260,5 90,6%
- Gains from Hedge Operation - 2,0 n.m. 0,3 22,3 n.m.
- Exchange Rate Variation 42,0 46,6 11,0% 59,9 109,6 83,0%
- Monetary Variation 2,5 - n.m. 10,8 - n.m.
- Others (Interest and Investment Income) 28,7 52,8 84,0% 65,7 128,6 95,8%
... as a result of higher demand for capital, which is characteristic of this phase.
8
14. Pro Forma Net Income*
R$ Million R$ Million
359.5
337.8
291.7
181.9 183.0
156.2
2Q09 2Q10 Pro Forma 2Q10 1H09 1H10 Pro Forma 1H10
* For the preparation of the Pro Forma 2Q10 report presented above, RodoAnel’s deferred tax asset was
booked and ViaQuatro’s the mark-to-market hedge effect was excluded. With regard to Pro Forma 1H10,
besides the previously mentioned adjustments, also eliminated was the non-recurring result reported in 1Q10.
7
16. Growth Perspectives
Initiatives for current portfolio maximization
Execution of contractual amendments in the states of São Paulo and Rio de Janeiro;
Maturation of Controlar’s operations;
Start of commercial operations at ViaQuatro.
Capital discipline for new businesses
Acquisition of the Rodovias Integradas do Oeste S/A concessionaire;
RodoAnel : South segment + East segment;
Acquisitions in the Secondary Market;
Infrastructure: 2014 World Cup / 2016 Olympics – Urban Mobility;
Federal Concession Program;
São Paulo and Minas Gerais State Programs.
16