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Well Planned Past. Proven Track Record. Ready for the Future.

                         2Q10 Results
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.
Agenda


 Highlights



  Results



  Outlook
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.
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.
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
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
Revenue Breakdown

   Toll Payment Method – 2Q10




                                Gross Revenue – 2Q10




    Revenue Breakdown – 2Q10




                                                       10
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
Ebitda margin

The expansion of EBITDA margin is on long-term goal…




               ...that can be seen in the recent past, despite the imponderables.

                                                                              12
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
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
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
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
Capex




 CAPEX (R$ MM)                              2Q09              2Q10         1H09    1H10    2010 (E)*
 AutoBAn                                    82,7              81,5         150,7   141,1    483,0
 NovaDutra                                  40,3              57,7         73,2    110,3    308,2
 ViaOeste                                   53,3              33,9         69,1    64,9     177,7
 RodoNorte (100%)                           12,3              35,8         27,6    66,9     115,9
 Ponte                                       0,9               2,4          1,7     4,5     28,8
 ViaLagos                                    0,6               0,4          1,6     1,7     14,6
 ViaQuatro (58%)                            21,7              70,1         23,6    142,1    199,7
 Renovias (40%)                              9,6               2,8         13,5     6,5     32,9
 RodoAnel (100%)                            24,4              16,8         40,9    24,8     72,8
 Controlar (45%)                              -                 -            -      0,0     13,8
     1
 Other                                       4,5               9,5          7,7    15,6     35,5
 Consolidated                               250,3             310,8        409,6   578,3   1.482,9
 1 - Includes CCR, CCR México, CCR USA, Actua, Engelog, Parques and STP.
 * It refers to CCR's estimated figures for 2010.




                                                                                                   15
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
Thank you

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C:\fakepath\2 q10 apresentação-english

  • 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.
  • 3. Agenda Highlights Results Outlook
  • 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
  • 8. Revenue Breakdown Toll Payment Method – 2Q10 Gross Revenue – 2Q10 Revenue Breakdown – 2Q10 10
  • 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
  • 15. Capex CAPEX (R$ MM) 2Q09 2Q10 1H09 1H10 2010 (E)* AutoBAn 82,7 81,5 150,7 141,1 483,0 NovaDutra 40,3 57,7 73,2 110,3 308,2 ViaOeste 53,3 33,9 69,1 64,9 177,7 RodoNorte (100%) 12,3 35,8 27,6 66,9 115,9 Ponte 0,9 2,4 1,7 4,5 28,8 ViaLagos 0,6 0,4 1,6 1,7 14,6 ViaQuatro (58%) 21,7 70,1 23,6 142,1 199,7 Renovias (40%) 9,6 2,8 13,5 6,5 32,9 RodoAnel (100%) 24,4 16,8 40,9 24,8 72,8 Controlar (45%) - - - 0,0 13,8 1 Other 4,5 9,5 7,7 15,6 35,5 Consolidated 250,3 310,8 409,6 578,3 1.482,9 1 - Includes CCR, CCR México, CCR USA, Actua, Engelog, Parques and STP. * It refers to CCR's estimated figures for 2010. 15
  • 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