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The document provides an agenda and overview for Marcopolo Day, which discusses Marcopolo as a leading bus manufacturer. It summarizes key information about the bus market and Marcopolo's position in it, including operating and financial highlights showing increased production, market share, sales, and profitability in recent years. Charts depict trends in areas like the Brazilian bus fleet size and average age.
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- 1. MARCOPOLO DAY Carlos Zignani- IR Director Thiago A. Deiro - IR Manager June, 2010.
- 2. AGENDA Bus Market Overview Bus Market Overview Marcopolo as a leading player Marcopolo as a leading player Operating & Financial Highlights Operating & Financial Highlights Corporate Governance Corporate Governance Marcopolo Corporation Marcopolo Corporation Product Line – Generation 7 Product Line – Generation 7
- 3. BRAZILIAN BUS BODIESPRODUCTION (units) +24.8% 35,410 32,027 32,000 27,952 26,983 25,280 25,645 21,680 21,787 21,381 46.9% 18,099 35.4% 34.1% 32.8% 31.6% 29.8% 28.9% 26.7% 27.3% 21.9% 17.7% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 E Brazilian Production External Market 3
- 4. MARKET SHARE INBRAZIL (%) 50% 49.8% 46.0% 47.0% 46.5% 45.9% 45.5% 44.7% 40% 42.8% 43.0% 41.7% MP/Ciferal 39.2% Busscar 30% Caio/ Induscar Comil 20% Neobus Mascarello 10% Other (*) (*) Irizar, Maxibus. 0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 1Q10 SOURCE: Fabus/Simefre. Fabus/ Simefre. 4
- 5. BUS BODY WORLDPRODUCTION OTHER ASIA 2009 = 3,000 2019 = 5,000 NORTH AMERICA - NAFTA 2009 = 12,000 2019 = 15,000 SOUTH KOREA 2009 = 12,000 EAST 2019 = 15,000 EUROPE 2009: 16,000 EUROPE 2019: 30,000 JAPAN 2009: 35,000 2009 = 9,000 2019: 40,000 ASIA & 2019 = 10,000 ASIAN SOUTHEAST MIDDLE EAST 2009: 196,000 & TURKEY 2019: 260,000 EGYPT 2009: 11,000 2009 = 3,000 2019: 14,000 2019 = 6,000 CHINA 2009 = 130,000 2019 = 150,000 AMERICAS 2009: 48,000 2019: 66,000 AFRICA 2009: 5,000 INDIA 2019: 9,000 2009 = 42,000 2019 = 80,000 BRAZIL 2009 = 30,000 2019 = 42,000 OTHER SOUTH AMERICA SOUTH AFRICA 2009 = 6,000 2009 = 2,000 2019 = 9,000 2019 = 3,000 TOTAL PRODUCTION 2009 = 311,000 2019 = 419,000 SOURCE: OICA and internal estimates for the production of buses with more than 7ton, except for India and China. 5 CAGR = 3.0% Note: School Buses in the USA and Canada are not considered. considered.
- 6. BRAZILIAN BUS FLEET Total Fleet & Average Age 16.3 457,873 15.2 13.9 13.5 14.1 12.1 235,161 76,823 82,880 38,088 24,921 Midwest Northeast North Southeast South BRAZIL Fleet per Region (units) Average Fleet Age (years) SOURCE: Fenabrave and Denatran. Denatran.
- 7. OUTLOOK • Events inBrazil 2010 – Federal and State level elections 2011 – Renewal of interstate and international lines concessions 2012 – Municipal Elections 2013 – FIFA Confederations Cup 2014 – FIFA World Cup / Federal and State level elections 2016 – Olympic and Paralympic Games / Municipal Elections • Growth Drivers / Opportunities – GDP Growth BRTs: Approx. R$ 10.0 MM / Km – Investments in BRTs and public transit systems Subway: Approx. R$ 200.0 MM / Km – School Buses for rural areas – Long term financing for buses – Generation 7 success – Global Presence – Global Sourcing – New Concession lines - fleet renovation 7
- 8. PERSPECTIVES • New Projects/Trends – Intercity School Buses – “Caminhos da Saúde” program – CBU’s exports financed by BNDES – Restrictions on the circulation of vehicles in central areas of big cities • Targets/Goals – #1 or #2 in every region in which we have factories – Premium prices – Lowest production cost • Threats – Strong exchange rate appreciation – Regional airlines – Trains/subways – Cars / Motorcycles 8
- 9. NEW PROJECTS INBRAZIL Belo Horizonte Porto Alegre 6 BRTs São Paulo 2 BRTs 1 Surveillance project 3 Bus lanes 1 Monorail 1 Pavement project 1 Surveillance project Total: R$ 1,082.0 MM Rio de Janeiro Total: R$ 1.023,3 MM Total: R$ 368.6 MM 1 BRT Total: R$ 1,190.0 MM Recife 2 BRTs Salvador 2 Bus lanes 1 Bus Terminal Growth Acceleration Program 1 BRT Total: R$ 541.8 MM Total: R$ 648.0 MM for public transport: R$ 11.5 billions in investments Brasília Manaus 39 projects for public transport, 1 Pavement project 1 BRT including: 1 Light Rail system 1 Monorail Total: R$ 361.0 MM • 20 BRTs systems Total: R$ 800.0 MM Curitiba Fortaleza 1 BRT 3 BRTs 1 Surveillance project 1 Light Rail system Cuiabá Natal 2 Pavement projects 1 Bus lane 2 BRTs 2 Pavement projects 3 Bus lanes 1 Subway project 1 Bus lane 1 Bus lane 1 Bus Terminal Total: R$ 414.4 MM Total: R$ 454.7 MM Total: R$ 361.0 MM Total: R$ 440.6 MM SOURCE: NTU 9
- 10. AGENDA Bus Market Overview Bus Market Overview Marcopolo as a leading player Marcopolo as a leading player Operating & Financial Highlights Operating & Financial Highlights Corporate Governance Corporate Governance Marcopolo Corporation Marcopolo Corporation Product Line – Generation 7 Product Line – Generation 7
- 11.
- 12. STRATEGIC POSITIONING PRODUCTIONUNITS CHANGZHOU - CHINA (components) MONTERREY - MEXICO 2009 = 1.510 SUEZ - EGYPT 2010e = 1.500 2009 = 207 2010e = 600 DHARWAD/LUCKNOW COTA - COLOMBIA INDIA 2009 = 638 2009 = 2.517 2010e = 600 2010e = 6.000 RIO DE JANEIRO - BRAZIL CAXIAS DO SUL - BRAZIL JOHANNESBURG - SOUTH AFRICA LOMA HERMOSA - ARGENTINA 2009 = 13.672 2009 = 308 2009 = 470 2010e = 14.900 2010e = 600 MARCOPOLO’S TOTAL 2010e = 500 PRODUCTION 2009 = 19,384* 2010e = 24,700 Variation = + 27.4% * Includes 54 units produced in Portugal and 8 units in Russia. Russia. 12
- 13. VERTICALIZATION & COMPETITIVEADVANTAGES Components Bus Production Post-sales Support ► Seats ► 11 units: 4 in Brazil and ► Sales representants 7 abroad ► Foams ► Technical Assistance and ► Presence in over 100 ► Windows product guarantee countries ► Doors ► Retail facilities ► Up-to-date technology ► Hydro-sanitary installation ► Possibility of financing from ► Low cost Structure ► Handbag Compartment Moneo Bank ► Specialized efficient plants ► Plastic Components ► Qualified workforce ► Air Conditioning System ► Customization ► Quality widely recognized 13
- 14. AGENDA Bus Market Overview Bus Market Overview Marcopolo as a leading player Marcopolo as a leading player Operating & Financial Highlights Operating & Financial Highlights Corporate Governance Corporate Governance Marcopolo Corporation Marcopolo Corporation Product Line – Generation 7 Product Line – Generation 7
- 15. TOTAL PRODUCTION (units)& MARKET SHARE (%) Marcopolo’s Total Production +27.4% 24,700 21,811 19,384 17,807 16,456 14,824 +8.3% +55.9% 5,375 6,134 4,964 3,935 EM DM 2005 2006 2007 2008 2009 2010 E 3Q09 4Q09 1Q09 1Q10 Marcopolo’s Market Share in Brazil (by model) 70.9% 54.3% Intercity Urban 37.1% Micro 31.5% Mini 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 1Q10 15
- 16. FINANCIAL HIGHLIGHTS (R$Million) Total Net Sales +23.9% 2,532.2 2,550.0 2,101.1 2,057.7 1,750.3 1,709.1 +28.6% +46.6% 617.5 679.2 480.3 463.4 EM DM 2005 2006 2007 2008 2009 2010 E 3Q09 4Q09 1Q09 1Q10 Gross Profit & Margin -16.5% 474.1 395.8 329.7 342.6 257.2 +64.0% +65.7% 163.7 131.7 99.8 79.5 21.5% 24.1% 15.1% 18.8% 16.3% 18.7% 19.2% 16.6% 21.3% 2005 2006 2007 2008 2009 3Q09 4Q09 1Q09 1Q10 16
- 17. FINANCIAL HIGHLIGHTS (R$Million) EBITDA & Margin -32.5% 273.5 184.7 168.2 168.5 +139.6% 120.4 112.6 +85.2% 56.5 47.0 30.5 16.6% 10.1% 7.0% 9.6% 8.0% 10.8% 9.0% 6.4% 9.2% 2005 2006 2007 2008 2009 3Q09 4Q09 1Q09 1Q10 EBITDA (adjusted) & Margin -2.7% 206.3 216.4 214.2 208.4 150.9 +132.1% 114.9 +33.9% 58.8 49.5 43.9 16.9% 8.8% 11.8% 10.3% 8.5% 10.1% 9.1% 9.5% 10.7% 2005 2006 2007 2008 2009 3Q09 4Q09 1Q09 1Q10 17
- 18. FINANCIAL HIGHLIGHTS (R$Million) Net Income & Margin +1.6% 146.5 134.4 136.5 120.8 +221.4% 82.4 +208.3% 69.1 63.2 20.5 21.5 4.8% 6.9% 7.0% 5.3% 6.6% 4.3% 10.2% 4.6% 10.2% 2005 2006 2007 2008 2009 3Q09 4Q09 1Q09 1Q10 Net Worth & ROE +15.2% +0.1% +5.9% 797.2 724.0 723.2 724.0 691.8 683.5 590.4 536.0 464.1 26.0% 24.8% 23.1% 19.3% 19.7% 18.9% 18.4% 18.2% 18.9% 2005 2006 2007 2008 2009 3Q09 4Q09 1Q09 1Q10 18
- 19. FINANCIAL HIGHLIGHTS (R$Million) Investments 132.2 -42.3% 110.6 104.0 60.0 +1.0% -37.0% 40.4 38.1 24.8 24.0 19.6 19.8 2005 2006 2007 2008 2009 2010 E 3Q09 4Q09 1Q09 1Q10 Net Indebtedness -4.8% 745.7 727.8 709.6 323.9 115.4 86.6 0.8x 0.6x 1.7x 1.1x 0.9x Net Debt (Industrial 0.4x Segment)/LTM EBITDA 2005 2006 2007 2008 2009 1Q10 = Financial Segment = Industrial Segment 19
- 20. AGENDA Bus Market Overview Bus Market Overview Marcopolo as a leading player Marcopolo as a leading player Operating & Financial Highlights Operating & Financial Highlights Corporate Governance Corporate Governance Marcopolo Corporation Marcopolo Corporation Product Line – Generation 7 Product Line – Generation 7
- 21. ORGANIZATION CHART Shareholders Shareholders HEIRS’ COUNCIL HEIRS’ COUNCIL FISCAL COUNCIL FISCAL COUNCIL HR AND ETHICS HR AND ETHICS BOARD OF DIRECTORS BOARD OF DIRECTORS COMITEE COMITEE AUDIT AND RISK AUDIT AND RISK EXTERNAL AUDIT EXTERNAL AUDIT INTERNAL AUDIT INTERNAL AUDIT STRATEGY AND INNOVATION STRATEGY AND INNOVATION EXECUTIVE EXECUTIVE IR DIRECTOR IR DIRECTOR CEO CEO 21
- 22. ORGANIZATION CHART CEO CEO DEVELOPING AND DEVELOPING AND STRATEGY DIVISION STRATEGY DIVISION MARKETING BUSINESS BUSINESS MARKETING DEVELOPMENT AND AND STRATEGY DEVELOPMENT AND AND STRATEGY SYNCROPARTS SYNCROPARTS DIVISION DIVISION DIVISION DIVISION Bus Business Bus Business Bus Business Bus Business Latin America Africa and LCV Financial Financial Latin America Africa and LCV Services and Europe and Europe Middle East Services Middle East Administrative Administrative Director Director Financial Financial Services Services Director Director Manufacturing Manufacturing and and Engineering Engineering Director Director System and System and Process Process Director Director 22 Service Providers Business Units
- 23. CORPORATE GOVERNANCE Marcopolo adopts corporate governance best practices, following the principles of transparency, Marcopolo adopts corporate governance best practices, following the principles of transparency, accountability, social responsibility and equitable treatment of shareholders. accountability, social responsibility and equitable treatment of shareholders. Independent Board Members (3 out of 7) Fiscal Council Support Committees: Human Resouces & Ethics; Audit & Risks; Strategy & Innovation; and Executive Independent External Audit Tag Along (100% Common and 80% Preferred shares) BM&FBovespa Corporate Governance Level 2 since 2002 Financial Statements in IFRS Code of Conduct Disclosure and Negotiation Policy Participation in the BMF&Bovespa IGC, SMLL, INDX and ITAG indexes Heirs’ Succession Plan 23
- 24. SHAREHOLDING DISTRIBUTION Preferred Shares Common Shares 4.6% 0.7% 2.0% 3.7% 5.2% 6.1% 7.7% 8.5% 48.7% 15.2% 33.1% 64.5% Foreign Shareholders Controling Shareholders Other Shareholders in Brazil Fundação Bco. Central - CENTRUS Jose Antonio Fernandes Martins Other Shareholders in Brazil Fundo Petrobras Seg. Soc. Petros Bco. Bradesco S.A. / Bradesco Seguros S.A. BNDES Part. S.A. - BNDESPAR Marcopolo Foundation Controling Shareholders BNDES Part. S.A. - BNDESPAR As of May, 31, 2010. May, 24
- 25. STOCK PERFORMANCE Marcopolo PN x Ibovespa - Base 100 POMO4: +94.9% IBOV: +18.5% R$ 8.46 63.046 pts R$ 4.34 53.197 pts 05/31/09 08/31/09 11/30/09 02/28/10 05/31/10 25
- 26. SHARE LIQUIDITY &VALUATION Marcopolo PN - POMO4 6.0 2,000 1,800 Average daily volume (R$ million) 5.0 1,600 Market Cap (R$ million) 1,400 4.0 1,200 3.0 1,000 800 2.0 600 400 1.0 200 - - Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Average Daily Volume Market Cap 26
- 27. NET PROFIT (R$Million) & PAY OUT RATIO AVERAGE PAY OUT: 47.2% 150 100 50 51.2 52.6 52.9 41.8 38.8 0 2005 2006 2007 2008 2009 Net Profit Pay Out (in %) Dividends (Company) 27
- 28. AGENDA Bus Market Overview Bus Market Overview Marcopolo as a leading player Marcopolo as a leading player Operating & Financial Highlights Operating & Financial Highlights Corporate Governance Corporate Governance Marcopolo Corporation Marcopolo Corporation Product Line – Generation 7 Product Line – Generation 7
- 29. BUS BUSINESS UNITS Ana Rech – Caxias do Sul-RS - Brasil Planalto – Caxias do Sul-RS - Brasil Neobus – Caxias do Sul-RS - Brasil Ciferal – Duque de Caxias - RJ - Brasil Superpolo – Cota - Colômbia Polomex – Monterrey - México MASA – Johannesburg - África do Sul GB Polo – Suez - Egito Metalpar – Loma Hermosa - Argentina Tata Marcopolo Motors LMTD – Dharward - Índia Tata Marcopolo Motors LMTD – Lucknow - Índia 29
- 30. AGENDA Bus Market Overview Bus Market Overview Marcopolo as a leading player Marcopolo as a leading player Operating & Financial Highlights Operating & Financial Highlights Corporate Governance Corporate Governance Marcopolo Corporation Marcopolo Corporation Product Line – Generation 7 Product Line – Generation 7
- 31.
- 32. G7 - VIAGGIO 32
- 33. INVESTOR RELATIONS CONTACT Carlos Zignani Thiago A. Deiro Investor Relations Director Investor Relations Manager carlos.zignani@marcopolo.com.br thiago.deiro@marcopolo.com.br Phone: +55 54 2101.4115 Phone: +55 54 2101.4660 www.marcopolo.com.br/ri_eng ri@marcopolo.com.br 33
- 34. DISCLAIMER This presentation containsfuture information. Such information is not simply historical facts, but reflects the desires and the expectations of the Company’s leadership. The words anticipates, desires, hopes, forecasts, intends, plans, predicts, projects, wishes and similar ones, intend to identify affirmations that necessarily involve known and unknown risks. Known risks include uncertainties that are not limited to the impact of the competitiveness of the prices and services, market acceptance of services, the Company’s service transitions and its competitors, the approval of regulations, currency, fluctuation in the exchange rate, changes in the mix of services offered, and other risks described in the reports of the Company. This presentantion is updated until the present date. However, Marcopolo is not obligated to update it with new information and/or future events.