Downloaded 11 times
![ANA
Airports in Portugal
Structure of ANA & TAP Group Operating Structure 2011
State Privpublic
31.44% 68.56% 100%
Lisbon TAP
Airport Açores
Airport TAP
Porto Maintenance
Airport
Beja* TAP Maintenance
Faro Airport Brazil
Airport
Handling
10% 70% 100%
ANA GROUP
Airports 10
20% Funchal and PAX (‘000) 30,089
Porto Santo
Airports
Depart. + Arriv. 285,041
Autonomous
Madeira
Cargo [ton] 158,542
Region](https://image.slidesharecdn.com/apresentaoccrday8eng-121119060756-phpapp01/75/Presentation-CCR-Day-8-13-2048.jpg)
![ANA
Airports in Portugal
ANA & TAP Group Structure
ANA Group
State Privpublic
Airports 10
31.44% 68.56% 100%
PAX (‘000) 30,089
Depart. + Arriv. 285,041
Lisbon TAP
Airport Açores Cargo [ton] 158,542
Airports TAP
Porto Manutenção
Airport
Beja* TAP Manutenção
Faro Airport Brasil Process characteristics
Airport Estimated timetable
Handling
10% 70% 100%
Concession term: 50 years
Schedule September October November December
20% Funchal and
Porto Santo
Airports
Autonomous Process /
Madeira Bids
Region](https://image.slidesharecdn.com/apresentaoccrday8eng-121119060756-phpapp01/75/Presentation-CCR-Day-8-14-2048.jpg)
![Financial indicators
2011 for ANA Group
Δ 2011/2010
Total revenue [in million €]
Airports
10 - 3%
Considered 4%
Gross 13%
€ 424.9 mn 4.6% 48%
Revenue 30%
EBITDA € 199.8 mn 21.6% 57%
EBITDA Margin 47.0% 6.6 p.p. 16%
Net Income € 76.5 mn 37.6%
13% 16%
Debt Ratio 1.8 -10% Air Force Retail Car Rental
Security and PMR’s Property develop. Advertising
Dividends paid € 39.5 mn 44.9% Commercial Parking Other
Operating expense [€ million] EBITDA [€ million]
+2%
259
254
237 240 239 +12%
213
111 121 116 116 111
97
109 122 114 121 108
104
2006 2007 2008 2009 2010 2011
Source: Accounting Management Report of the ANA Group 2011
Payroll Outsourcing Other](https://image.slidesharecdn.com/apresentaoccrday8eng-121119060756-phpapp01/75/Presentation-CCR-Day-8-15-2048.jpg)
Uploaded byCCR Relações com Investidores
Presentation CCR Day 8
Here are the key points about the PMI - Greater Florianópolis urban mobility project: - It involves connecting the city of Florianópolis with the continental region of Santa Catarina through an integrated public transportation system. - The project includes bus rapid transit (BRT) lines, expansion of the Florianópolis subway, integration of various modes of transportation, and infrastructure works. - The concession model involves investments, operation and maintenance by the private sector for 30 years. - Total estimated investments are R$4.5 billion, to be sourced from the private partner, BNDES, national and state governments. - The project aims to improve mobility in Greater Florian
Presentation CCR Day 8
- 2. Disclaimer This presentation maycontain certain forward-looking projections and trends that neither represent realized financial results nor historical information. These forward-looking projections and trends are subject to risk and uncertainty, and future results may differ materially from the projections. Many of these risks and uncertainties are related to factors that are beyond CCR’s ability to control or to estimate, such as market conditions, currency swings, the behavior of other market participants, the actions of regulatory agencies, the ability of the company to continue to obtain financing, changes in the political and social context in which CCR operates or economic trends or conditions, including changes in the rate of inflation and changes in consumer confidence on a global, national or regional scale. Readers are advised not to fully trust these projections and trends. CCR is not obliged to publish any revision of these projections and trends that should reflect new events or circumstances after the realization of this presentation. 2
- 3. “Invest, diversify andgrow: CCR 2020” CCR Day Agenda 8 am Registration and breakfast. 12 pm Highlights of current operations • ARTESP, ViaQuatro and STP 9 am Opening and welcome (video) | Renato Vale concessions | Italo Roppa 9:15 am Opportunities and challenges for the city of Rio • ANTT, Rio de Janeiro, Paraná, SAMM de Janeiro| Eduardo Paes and Controlar concessions | José Braz • Infrastructure for the 2014 World Cup, 2016 • Sustainability: Responsible social Olympics and the legacy for the city. investment | Francisco Bulhões 10:15 am Q&A session and coffee break Performance and the Company’s 1 pm future | Arthur Piotto 11 am Overview of high-quality growth for CCR Group: Closing remarks, Q&A session and • Airport, toll road, urban mobility and logistics 1:30 pm lunch | Renato Vale markets | Leonardo Vianna
- 4. “Invest, diversify andgrow: CCR 2020” Opening and welcome Renato Vale
- 5. Our past Back in 2009...We had overcome challenges, developed the company’s structure and strengthened our corporate governance • Company’s incorporation; • Strategic partner; • Corporate restructuring; • Access to capital markets. 4-year Average ROE: 33.2% 2005 2004 2003 2002 R$ 334 mn Follow-on 2001 Offering 2000 1999 1998 Corporate Def. initial Restructuring operations EBITDA: R$ 1.1 bn EBITDA Margin: 56.4% 1998-2005
- 6. Our present With capital discipline and a strong focus on profitability, we prepared the company for a new level of operations Past 4-year Average ROE: 38.9% • 4-year Average ROE: 33.2%; • EBITDA: R$ 1.1 bn; • EBITDA Margin: 56.4%. 2009 2008 2007 R$ 1,235 mn Follow-on 2005 2006 Offering 2004 2003 2002 Fol 2001 lo 2000 w 1999 on 1998 R$ 33 EBITDA: ~ R$ 2 bn 4m Margin ~ 64% Corporate Def. Restructuring initial operations • Pursuit of consolidation • Portfolio diversification; • Preparation for future. 1998-2005 2006-2009
- 7. Our future Unique moment for CCR, with favorable competitive and macroeconomic environments. Past Past New Opportunities • 4-year Average ROE: 33.2%; • 4-year Average ROE : 38.9%; • 2014 World Cup; • EBITDA: R$ 1.1 bn; • EBITDA: ~R$ 2 bn; • EBITDA Margin: 56.4%. • EBITDA Margin: ~ 64%. • 2016 Olympic Games; • Infrastructure Deficit; • Various opportunities. • Secondary market; • Metro; • Logistics; • Urban mobility. Develop potential of current portfolio • Reduce escape routes; • Maximize ancillary revenues; • Contractual addenda; • Increase collection base; • Expand capacity of current portfolio. 1998-2005 2006-2009 Next 5 years
- 8. Doubling EBITDA R$ 5.5 to 6.5 bn R$ 3.3 bn Our goal is to double EBITDA R$ 3.3 bn by 2016, considering only the current portfolio EBITDA EBITDA 2012E 2016E
- 9. Thinking boldly and consideringonly our current portfolio… EBITDA 2012E¹ Yesterday’s EV/EBITDA average price R$ 17.70 R$ 3.3 bn 11.7 X share With 1.8x Net Debt/EBITDA and Same Multiple... EBITDA 2016 Price 2016 R$ 5.5 bn ? to 6.5 bn
- 10. “Invest, diversify andgrow: CCR 2020” General overview of high-quality growth for the CCR Group Airport, toll road, urban mobility and logistics markets. Leonardo Vianna
- 11.
- 13. ANA Airports inPortugal Structure of ANA & TAP Group Operating Structure 2011 State Privpublic 31.44% 68.56% 100% Lisbon TAP Airport Açores Airport TAP Porto Maintenance Airport Beja* TAP Maintenance Faro Airport Brazil Airport Handling 10% 70% 100% ANA GROUP Airports 10 20% Funchal and PAX (‘000) 30,089 Porto Santo Airports Depart. + Arriv. 285,041 Autonomous Madeira Cargo [ton] 158,542 Region
- 14. ANA Airports in Portugal ANA & TAP Group Structure ANA Group State Privpublic Airports 10 31.44% 68.56% 100% PAX (‘000) 30,089 Depart. + Arriv. 285,041 Lisbon TAP Airport Açores Cargo [ton] 158,542 Airports TAP Porto Manutenção Airport Beja* TAP Manutenção Faro Airport Brasil Process characteristics Airport Estimated timetable Handling 10% 70% 100% Concession term: 50 years Schedule September October November December 20% Funchal and Porto Santo Airports Autonomous Process / Madeira Bids Region
- 15. Financial indicators 2011 for ANA Group Δ 2011/2010 Total revenue [in million €] Airports 10 - 3% Considered 4% Gross 13% € 424.9 mn 4.6% 48% Revenue 30% EBITDA € 199.8 mn 21.6% 57% EBITDA Margin 47.0% 6.6 p.p. 16% Net Income € 76.5 mn 37.6% 13% 16% Debt Ratio 1.8 -10% Air Force Retail Car Rental Security and PMR’s Property develop. Advertising Dividends paid € 39.5 mn 44.9% Commercial Parking Other Operating expense [€ million] EBITDA [€ million] +2% 259 254 237 240 239 +12% 213 111 121 116 116 111 97 109 122 114 121 108 104 2006 2007 2008 2009 2010 2011 Source: Accounting Management Report of the ANA Group 2011 Payroll Outsourcing Other
- 16. High-speed rail project São Paulo - Rio
- 17. New operations Rio de Janeiro – Campinas HSR Project SP RJ
- 18. New operations Rio de Janeiro – Campinas HSR Project Rio de Janeiro Campinas São Paulo
- 19. New operations Rio de Janeiro – Campinas HSR Project Concession auction, maintenance of HSR system and 1 supply of permanent rail infrastructure, systems and rolling stock. Executive project prepared by government in 2 accordance with the technology parameters offered. Construction of rail infrastructure and associated 3 facilities and buildings. Total investment: • By concessionaire: R$ 8.7 bn + R$ 5 bn*; • By government: R$ 26.9 bn. Source: EPL
- 20. Urban mobility Light RailTransit in Rio de Janeiro
- 21. Urban mobility LRT Rio Project SP RJ
- 22. Urban mobility LRT Rio Project RJ
- 23. Urban mobility LRT Rio Project Concession term: 30 years from start order. • Length of basic line: 28km; • No. of stations and stops: 46; • Fleet: 32. Sources R$ mn % PAC Program 532 46% Municipal Gvt. 38 3% Concessionaire 587 51% Investment: R$ 1.2 bn. Source: public hearing
- 24. Urban mobility Metro Systems
- 25. Urban mobility Metro Line 3 - Niterói
- 26. Urban mobility Metro Line 3 - Niterói Rio de Janeiro Niterói RJ
- 27. Urban mobility Metro Line 3 - Niterói Guaxindiba No. of Stations: • 14. Estimated Initial Demand: • 350,000 pax/day; Length: Araribóia • 23 km. Project Phase: Declaration of Private Interest (MIP) - ongoing. Total Investment: R$ 3 bn
- 28. Metro in Salvador and Lauro de Freitas
- 29. Metro in Salvador and Lauro de Freitas Salvador - BA
- 30. Metro in Salvador and Lauro de Freitas Concession Implementation and Operation of the Urban Intercity objective Public Transportation System (Salvador and Lauro de Freitas Metro Systems) Sponsored Public-Private Partnership (PPP) Model (Investment by Government) Lauro de Freitas Concession 30 years: 3 construction projects + 27 operations term Estimated startup of partial operations (18 months) Pirajá Bid process Presentation of Economic Proposals in Writing, followed by open-outcry bidding on BM&FBOVESPA Selection Lowest amount of investment by Government criteria Lapa Investments Estimated at R$ 3.5 bn Funding sources (R$ 3.5 bn) • Federal Budget PAC Large City Mobility: R$ 1.0 bn; • PAC Financing – Large City Mobility: R$ 600 million; • Current balance of Agreement for Line 1: R$ 250 million; • Investment by Private Partner: To be defined in the bidding process; • Investment by Government: To be defined in the bidding process.
- 31. Urban mobility Brasília Metro
- 32. Urban mobility Brasília Metro
- 33. Urban mobility Brasília Metro Scheduled investments – Concessionaire Renovation of trains: • 80 old cars: modernized; Central • 48 new cars: air conditioning. Ceilândia New trains: • 160 new trains with air conditioning. Infrastructure: • Station surroundings; • Electricity; • Various operational • Telecom systems; improvements. Samambaia • Integration terminals; Scheduled investments - GDF Length: Asa Sul and Guará Stations: • Asa Norte: 1 km; • 104 Sul; • Estrada Parque; • Ceilândia: 2 km; • 106 Sul; • Onoyama. • Samambaia: 3 km. • 110 Sul; Total Investment: R$ 2.3 bn
- 34. Urban mobility São Paulo Metro – Line 6
- 35. Urban mobility São Paulo Metro – Line 6 São Paulo
- 36. Urban mobility São Paulo Metro – Line 6 Patio Morro Grande No. of Stations: • 15. Estimated Initial Demand • 633,000 pax/day; Length: • 15.3km. Bela Vista Project Phase: Public Hearing Total Investment: R$ 7.7 bn
- 37. Urban mobility Curitiba Metro
- 38. Urban mobility Curitiba Metro Curitiba
- 39. Urban mobility Curitiba Metro No. of Stations: • 13. Estimated Initial Demand: • 475,000 pax/day; Patio CIC Sul Rua das Flores Length: • 14.2km. Project Phase: Public Hearing. Study being reformulated due to MP 575. Total Investment: R$ 2.2 bn
- 40. Urban mobility Porto Alegre Metro
- 41. Urban mobility Porto Alegre Metro Porto Alegre Curitiba São Paulo
- 42. Urban mobility Porto Alegre Metro No. of Stations: Intermodal Terminal • 13. Fiergs Estimated Initial Demand: • 302,000 pax/day; Intermodal Terminal Length: Rua da Praia • 14.8km. Project Phase: Request by the Government for Declaration of Interest. Total Investment: R$ 2.5 bn
- 43. Urban mobility Belo Horizonte Metro
- 44. Urban mobility Belo Horizonte Metro Curitiba São Paulo Belo Horizonte
- 45. Urban mobility Belo Horizonte Metro Government Adm. Center Public Investment: R$ 1.7 bn Novo Eldorado Private Investment: R$ 1.2 bn Savassi Barreiro Total Investment: R$ 2.9 bn
- 46. Urban mobility North Stretchof Belo Horizonte Beltway
- 47. Urban mobility Northern Stretch of Belo Horizonte Beltway São Paulo Belo Horizonte
- 48. Urban mobility Northern Stretch of Belo Horizonte Beltway Procedure for declaring interest March 2012 • Objective: Structuring of the Project for the Northern Stretch of the Beltway for the Belo Horizonte Metropolitan Area, a 67-km stretch connecting the cities of Sabará, Santa Luzia, Vespasiano, São José da Lapa, Pedro Leopoldo, Ribeirão das Neves, Contagem and Betim; • The proposed Beltway consists of a highway connecting the southern and northern stretches of Fernão Dias Highway (BR 381); • Interested companies must conduct studies and prepare proposals for construction, paving, operation, maintenance, conservation and improvements during the 35-year concession period; Estimated date of conclusion of studies: March 15, 2013.
- 49. Urban mobility Connecting Florianópoliswith continental Santa Catarina
- 50. Urban mobility PMI –Greater Florianópolis Santa Catarina Florianópolis São Paulo
- 51. Urban mobility PMI – Greater Florianópolis Declaration of Interest Procedure (PMI) for receiving proposals for recertification and construction of structural works to improve the transportation system, urban mobility and access to the island region of Florianópolis from Highway BR-101. Integrated solutions Maritime passenger and vehicle transportation using boats and ferry-boats. Air passenger transport via cable car. Investment of R$ 650 million.
- 52. PAC for highwayconcessions Federal program
- 53. PAC projects forconcessions New investments in highways 1 BR – 101 BA 772.3 Km R$ 3.87 PAC in execution 2 BR – 262 ES/MG 376.9 Km Current network R$ 1.90 3 BR – 153 TO/GO 743.3 Km R$ 3.99 Port of Santarém Port of Itaqui Port of Pecém 4 BR – 050 GO/MG 425.8 Km R$ 2.58 Port of 5 BR – 163 MT 821.6 Km R$ n/a 3 Suape 5 1 Port of Salvador BR – 163 MS 4 6 BR – 262 MS 1,423.3 Km R$ 5.94 9 BR – 267 MS 7 8 6 Port of Vitória BR – 060 DF/GO 2 Port of Rio de Janeiro 7 BR – 153 GO/MG 732.9Km R$ 6.63 Port of Port of Itaguaí Santos BR – 262 MG Port of Paranaguá 8 BR – 116 MG 821.6 Km R$ 4.84 Port of Rio Grande 9 BR – 040 GF/GO/MG 443.6 Km R$ 5.99 R$ In billions
- 54. National Road TransportAgency (ANTT) 3rd stage of highway concessions Phase 1 3rd Stage – Phase 1 Concession for Highway BR 116/MG Concession for Highway BR 040/DF/GO/MG Concession term: 25 years. Toll plazas: 8 (BR 116) and 11 (BR 040). Max. toll: R$ 6.25406 (BR 116) and R$ 3.74680 (BR 116).
- 55. National Road TransportAgency (ANTT) 3rd stage of highway concessions Phase 1 3rd Stage – Phase 1 Public Hearings (AP 125, 127, 128) were held in August and September 2012 and the period for 1 submitting contributions and suggestions to the Drafts of the Bid Notice and Concession Contract, as well as the PER and Feasibility Studies of the ANTT, expired on Sept. 25, 2012. The Official Bid Notices should be made 2 available on Nov. 26, 2012 with the auctions on the BOVESPA slated for Jan. 26, 2013.
- 56. National Road TransportAgency (ANTT) 3rd stage of highway concessions Phase 1 3rd Stage – Phase 1 BR 116/MG • Stretch in state of Minas Gerais between Além Paraíba and Divisa Alegre; • Connects the stretch of BR-116 RJ already granted (CRT) and BR-116 BA also already granted (ViaBahia); • Length: 816.7 km. BR-040 /DF/GO/MG • Begins in Federal District at the intersection with Highway BR 251 and ends in Juiz de Fora(MG) at the start of the stretch granted to CONCER; • Length: 936.8 km.
- 57. PAC for railroadconcessions Federal program
- 58. Railroads Federal plan for logistics investments Railroad program Financing compatible with project sizes • Interest Rate: TJLP + 1%; • 5-year grace period; • Amortization in up to 25 years; • Higher leveraging: up to 80% of total. Total investments: R$ 10 bn • 2013 – 2017: R$ 56 bn; • 2018 – 2039: R$ 35 bn.
- 59. Railroads Federal plan for logistics investments Federal Government Built, maintained and Investment operated by private sector Permanent way concessionaire State-owned company acquires full rail transportation capacity. VALEC State-owned company conducts public bid for capacity. Operators with own Independent rail Rail transportation cargo operators concessionaires
- 60. Railroads Federal plan for logistics investments Main stretches under analysis 1 SP Rail Beltway Northern Segment Port of Vila do Conde 2 SP Rail Beltway Southern Segment Port of Santarém Port of Itaqui 3 Access to Port of Santos 12 Port of Pecém 4 Lucas do Rio Verde Uruaçu Açailandia 5 Uruaçu – Corinto – Campos Port of Marabá 6 Rio de Janeiro – Campos – Vitória Port of Porto Velho Port of Suape 8 7 Belo Horizonte – Salvador Lucas R. Verde 8 Salvador – Recife 4 7 Port of Salvador 9 Estrela do Oeste – Panorama – Maracaju Uruaçu Port of Ilhéus 5 10 Maracaju – Mafra Estrela D’Oeste Corinto 11 São Paulo – Mafra – Rio Grande Belo Maracajú 9 Horizonte Port of Vitória 12 Açailândia – Vila do Conde Panaroma 1 6 2 3 Port of Rio de Janeiro Total of 10 Port of Itaguaí 10,000 km Port of Santos Mafra Port of Paranaguá 11 Launch of bid notice + drafting of proposals: Port of Rio Grande Mar/Apr 2013
- 61. “Invest, diversify andgrow: CCR 2020” CCR Airports Acquisitions Leonardo Vianna
- 62. Curaçao Costa Rica Quito
- 63. Location of airports Source: company data International Airport of Costa Rica • International airport of San José (Juan Santamaria International Airport) is located in the province of Alajuela, some 20 km from the center of San José; • Term of Interested Management Contract: ends in May 2026; • Around 70% of traffic is international. International Airport of Curacao • The international airport of Curacao is located on the northern coast of the island, some 15 km from center of the capital, Willemstad; • Concession Term: 30 years, ending in August 2033; • Around 70% of traffic is international. International Airport of Quito • Mariscal Sucre International Airport is located in Quito and will continue operating until the inauguration of the city’s new international airport; • Concession Term: 30 years, ending in January 2041; • Around 77% of traffic is international.
- 64. Mariscal Sucre, UIO International Airport in Quito, Ecuador Overview: Acquisition: May 2012. Ownership structure: • CCR – 45.5%; • AECON – 45.5%; • ADC – 9%. • 15 airlines; • 302 employees (62 Quiport + 240 ADC&HAS); • 23 destinations; • 68,000 arrivals and departures. Revenue 2011: US$ 84 mn Revenue 2016: US$ 162 mn 5.4 million passengers. Source: Company reports, 2011
- 65. Mariscal Sucre, UIO InternationalAirport in Quito, Ecuador Flight range Current MSIA New NQIA
- 66. Juan Santamaria, CRT International Airport in San Jose, Costa Rica Overview Acquisition: September 2012. Ownership structure: • CCR – 48.75%; • ADC & HAS – 48.75%; • Local Partners – 2.5%. • 15 airlines; • 132 employees; • 32 destinations; • 32,000 arrivals and departures (ATM’s). Revenue 2011: US$ 67 mn Revenue 2016: US$ 100 mn 3.5 million passengers Source: Company reports, 2011
- 67. Hato International, CUR Airport in Curacao, Netherlands Antilles Overview: Acquisition: October 2012. Ownership structure: • Aport S.A. – 51% (CCR 40.8% ; Zurich 10.2%); • Jansen de Jong – 49%. • 28 airlines; • 198 employees; • 30 destinations; • 26,000 arrivals and departures. Revenue 2011: US$ 32 mn Revenue 2016: US$ 53 mn 1.6 million passengers Source: Company reports, 2011
- 68. “Invest, diversify andgrow: CCR 2020” ARTESP, ViaQuatro and STP concessions Italo Roppa
- 69. Current operations CCR AutoBAn
- 70. Potential of currentportfolio Various investment gaps were identified... Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 71. Potential of currentportfolio Various investment gaps were identified... Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 72. Potential of currentportfolio Various investment gaps were identified... CCR AutoBAn: R$ 350 mn Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 73. Current operations CCR ViaOeste
- 74. Potential of currentportfolio Various investment gaps were identified... Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 75. Potential of currentportfolio Various investment gaps were identified... Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 76. Potential of currentportfolio Various investment gaps were identified... CCR ViaOeste: R$ 600 mn Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 77. Current operations ViaQuatro
- 78. Potential of currentportfolio Various investment gaps were identified... ViaQuatro: R$ 200 mn Revenue and EBITDA growth (R$ million) 350 200 Revenue EBITDA 2012(E)
- 79. Current operations CCR SPVias
- 80. Potential of currentportfolio Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 81. Potential of currentportfolio Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 82. Potential of currentportfolio Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 83. Current operations Renovias
- 84. Potential of currentportfolio Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 85. Potential of currentportfolio Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 86. Potential of currentportfolio Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 87. Current operations CCR RodoAnel
- 88. Potential of currentportfolio Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 89. Potential of currentportfolio Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 90. Potential of currentportfolio Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 91.
- 92. Potential of currentportfolio Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 93. Potential of currentportfolio Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 94. “Invest, diversify andgrow: CCR 2020” Highlights of current operations Concessions: ANTT, Rio de Janeiro, Paraná and Controlar SP. José Braz
- 95. Current operations CCR RodoNorte
- 96. Current operations CCR RodoNorte
- 97. Potential of currentportfolio Various investment gaps were identified... Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 98. Potential of currentportfolio Various investment gaps were identified... CCR RodoNorte: R$ 1 bn • Campo Largo Bypass: R$ 100 mn; • Expansion to four lanes and access road at 376 and 277 between Curitiba and Apucarana: R$ 900 million. Crescimento de receita e EBITDA million) milhão Revenue and EBITDA growth (R$ – em R$ Revenue Source: financial statements of the business unit
- 99. Current operations Controlar
- 100. Current operations Controlar
- 101. Potential of currentportfolio Various investment gaps were identified... Projected revenue 2016: R$ 640 mn. Unilateral reduction of inspection fee: 33%. Material facts: • Administrative negotiations; • Lawsuits.
- 102. Current operations SAMM
- 103. Potential of currentportfolio Various investment gaps were identified... Projected revenue 2016E: R$ 154 mn. Region’s potential: • 34% of Brazil’s GDP; • Strong revenue growth in 4 years; • 4G – HDTV; • Broadband; • Events (2014 World Cup, 2016 Olympics).
- 104. Current operations CCR NovaDutra
- 105. Potential of currentportfolio Various investment gaps were identified... Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 106. Potential of currentportfolio Various investment gaps were identified... Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 107. Potential of currentportfolio Various investment gaps were identified... CCR NovaDutra: R$ 2 bn • Serra das Araras; • Expressways in Rio, São Paulo and São José dos Campos; • Other safety works. Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 108. Current operations CCR Ponte
- 109. Current operations CCR Ponte
- 110. Potential of currentportfolio Various investment gaps were identified... Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 111. Potential of currentportfolio Various investment gaps were identified... Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 112. Potential of currentportfolio Various investment gaps were identified... CCR Ponte: R$ 305 mn • Connecting the bridge to Linha Vermelha; • Niterói Tunnel (Mergulhão). Revenue and de receita e EBITDAmillion) milhão Crescimento EBITDA growth (R$ – em R$ Revenue Source: financial statements of the business unit
- 113. Current operations ViaLagos
- 114. Potential of currentportfolio Various investment gaps were identified... Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 115. Potential of currentportfolio Various investment gaps were identified... Revenue and EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 116. Potential of currentportfolio Various investment gaps were identified... CCR ViaLagos: R$120 mn • Reduction in tolls; • Contractual rebalancing: 15 years. Revenue and de receita e EBITDA – em R$ milhão Crescimento EBITDA growth (R$ million) Revenue Source: financial statements of the business unit
- 117. Current operations TransOlímpica
- 118. Potential of currentportfolio Various investment gaps were identified... Concession term: 35 years. Total investment: R$ 1.8 bn. Revenue 1st year of operations: R$ 148 mn.
- 119. Current operations Barcas
- 120. Potential of currentportfolio Various investment gaps were identified... Acquisition: R$ 72 mn | 80% of capital. Rebalanced tariff: R$ 4.50. Subsidy: 31%. • 8 vessels younger than 60 years; • 6 vessels younger than 22 years; • 4 vessels younger than 6 years. Committed investments: State government: • 9 vessels: R$ 300 mn; • 2 new stations: R$ 300 mn. Concessionaire: • 2 vessels.
- 121. Potential of currentportfolio Various investment gaps were identified... Investment opportunities: • Immediate recovery of existing Rebalancing of the contract by stations: R$ 30 mn; lengthening the term. • 2 new stations: 300 mn.
- 122. Praça Araibóia Station Niterói Potential investment Barcas: R$ 600 mn Araribóia – Niterói
- 123. Synergy with otherprojects CCR Ponte Metro LRT TransOlímpica CCR NovaDutra Line 3
- 124. “Invest, diversify andgrow: CCR 2020” Sustainability Responsible social investment Francisco Bulhões
- 125. Reasons for theSustainability Project Value Creation Economic Capital Protect Value | Reputation Human Capital Social Capital Natural Capital
- 126. Protect Value General assessmentof work General assessment of the concessionaire’s work 2012 (in %) (Excellent + Good) Respondents: car and truck drivers. Data from the last Image and Satisfaction survey conducted by Datafolha in 2012.
- 127. Value Creation| EconomicCapital Reporting initiatives - investors Objective: Structuring reporting initiatives at the CCR Group. Activities: • Support GRI 2011 reporting and structuring GRI 2012 reporting; • Process management and analysis of evidence for ISE index; • Support for other reporting initiatives (Global Compact, ICO2, Guia Exame); Current status: • Monitoring of final analysis of evidence by FGV; • Discussion of proposal for GRI 2012.
- 128. Value Creation| HumanCapital Educational campaigns
- 129. Value Creation |Social Capital The UN has declared 2011-2020 the Decade of Action for Road Safety Great opportunity to transform our main initiatives into a model to be replicated
- 130. Value Creation |Social Capital The UN has declared 2011-2020 the Decade of Action for Road Safety Partnership with IADB: • Road Digitalization for Citizenship; • Pilot Project CCR ViaOeste (Highway+).
- 131. Value Creation |Social Capital CCR private social investment Consolidated with and without tax incentives Social investment by CCR of R$ 80 mn over 9 years, with another R$ 165 mn expected over the next 5 years. Over Direct investment R$165 Investment through incentives million 6590 4969 5144 4676 5166 12899 14352 3771 3654 1695 7519 9491 970 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
- 132. Value Creation |Social Capital Road to Citizenship 1.5 million students since 11 million start of program indirect participants 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 10,000 15,000 45,000 45,000 112,00 132,00 135,00 140,00 140,00 145,00 350,000 450,000 400 500 2,200 2,600 3,800 4,000 4,500 6,000 6,000 6,500 13,300 14,000 600,000 Students Teachers Drivers
- 133. Value Creation |Social Capital Road to health More than 1,600 people served each month by our structure. 260m² of rest area for truckers. 600 people served/month. 190m² of rest area for truckers. 400 people served/month.
- 134. Sustainability project Timeline 2010 2011 2012 1. Sustainability in the 2. ROADMAP 3. CCR’s Sustainability Value Chain Project • External factors; • Maturity; • Executive support; • Accident front; • Mapping of public • Unit support; interest; • Waste front; • ISE; • Vision. • Emissions front; • GRI and other reporting • ISE; initiatives; • Sustainability committee. • Selection of SW.
- 135. Reasons for theSustainability Project Value Creation Economic Capital Protect Value | Reputation Human Capital Social Capital Natural Capital
- 136. Sustainable Highway Project Presidente Dutra Highway • 55% of Brazil’s GDP; • 402 km; • 130 million users annually; • 115 large manufacturers and retailers; • 36 surrounding cities; • 23 million people; • 160 service stations.
- 137. Project Motivation Sustainable Highway Creating a reference for sustainable development for Brazilian highways through the joint efforts of multiple stakeholders; Developing green solutions and technology by creating business models that are self- sustainable over the long term; Creating visibility for companies’ positioning through a unique communications strategy. The transformations required by sustainable development depend on the actions of various players.
- 138.
- 139. “Invest, diversify andgrow: CCR 2020” Overview of high-quality growth for the CCR Group The company’s performance, strategy and future Arthur Piotto
- 140. EBITDA Growth R$ billion 2.0 IPO Portfolio 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 (E)
- 141. EBITDA Growth R$ billion STP 2.2 2.0 IPO Portfolio 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 (E)
- 142. EBITDA Growth R$ billion ViaOeste 2.7 STP STP 2.2 2.0 IPO Portfolio 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 (E)
- 143. EBITDA Growth R$ billion 3.0 ViaOeste ViaQuatro 2.7 STP STP 2.2 2.0 IPO Portfolio 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 (E)
- 144. EBITDA Growth R$ billion RodoAnel, 3.0 ViaOeste Renovias ViaQuatro and Controlar 2.9 2.7 STP STP 2.2 2.0 IPO Portfolio 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 (E)
- 145. EBITDA Growth R$ billion SPVias 3.3 and SAMM RodoAnel, 3.0 ViaOeste Renovias ViaQuatro e Controlar 2.9 2.7 STP 2.2 2.0 IPO Portfolio 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 (E)
- 146. Adding value throughnew operations R$ billion 3.3 R$1.3 bn 3.0 of EBITDA added 2.9 through 2012E 2.7 2.2 2.0 + 62% of EBITDA added through new businesses 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 (E)
- 147. Perception of marketcapitalization R$ million +23% 306 1,206 900 571 2003 2006 2006 (Consensus in 2003)
- 148. Perception of marketcapitalization R$ million +12% 206 1,918 1,712 1,206 +23% 306 1.206 900 2006 2009 2009 (Consensus in 2006) 571 2003 2006 2006 (Consensus em 2003)
- 149. Perception of marketcapitalization R$ million +23% 623 3,360 2,737 +12% 1,918 206 1918 1,712 2009 2012 (E) 2012 (E) 1,206 (Consensus (Consensus in 2009) of current market) 2006 2009 2009 (Consensus in 2006)
- 150.
- 151. “Invest, diversify andgrow: CCR 2020” But in what scenario was this achieved? Arthur Piotto
- 152. Project Track Record 2002 No project R$ 0 2003 No project R$ 0 2004 MG-50 R$ 645 2005 No project R$ 0 2006 São Paulo Metro Yellow Line R$ 1,000 2007 7 federal highways R$ 19,500 2008 6 state highways R$ 10,795 2009 BR116/BR324 in Bahia R$ 1,900 BA093 and southern and eastern 2010 R$ 5,805 stretches of Sao Paulo Beltway 2011 MT130 and PE060* 1 Airport R$ 900 Amounts in million
- 153. Project Track Record And what did CCR do? • Won 2 Projects; • Acquired 5 companies; • Created 1 company; R$ 4.8 bn re-invested EBITDA Added R$ 1.3 bn Total: Total investments: Average: 20 Projects ~R$ 40 bn R$ 4 bn per year • BR 101 /ES; • We won TransOlímpica; 2012 • 3 Airports; R$ 21 bn • We acquired 4 companies. • Transolímpica/RJ. EBITDA added R$ 800 mn re-invested R$ 150 mn
- 154. “Invest, diversify andgrow: CCR 2020” And what is the outlook? Arthur Piotto
- 155. Considering the outlook... in ‘000 Railroads R$ 91,000 Federal Highways R$ 42,000 5 Airports in Brazil R$ 25,000 E Urban Mobility R$ 27,000 Additional Investments R$ 5,000 E Projects outside Brazil R$ ? Total: 33 projects over the next 5 years 10x more than Total estimated investments: ~R$ 190 bn in the past Average: R$ 40 bn per year And how much will CCR be able to add based on its execution track record?
- 156. Arthur Piotto And howwill we support our growth?
- 157. Investment capacity Financial strategy Maximum Company’s growth to be Commitment to pay out Net Debt/EBITDA Ratio financed through leverage. at least 50% of net income of 3.0x. as dividends.
- 158. Schedule of debt amortization Re-financings contracted or authorized... R$ million 2,394 1,673 1,589 1,315 1,436 1,195 1,094 1,017 1,063 972 856 418 56 130 2012 (E) 2013 (E) 2014 (E) 2015 (E) 2016 (E) 2017 (E) 2018 (E) onwards ... will increase CCR’s investment capacity.
- 159. Investment capacity In times 2.6 2.5 2.2 2.1 2.0 1.5 1.5 1.1 7.5 0.8 0.9 0.8 6.2 5.6 R$ billion 2.6 2.9 1.2 1.1 1.2 1.1 1.2 0.6 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 (E) Net Debt ND/EBITDA
- 160. Investment capacity Financial strategy Maximum Company’s growth to be Commitment to pay out Net Debt/EBITDA Ratio financed through leverage. at least 50% of net income of 3.0x. as dividends.
- 161. Investment capacity Current investment capacity ~R$ 3 bn, increasing to ~R$ 13 bn by 2016. R$ million 3,113 2,565 2,849 2,648 2,565 2,479 1,656 2,147 586 1,143 179 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 (E) Investment capacity
- 162. Investment capacity In times Current investment capacity ~R$ 3 bn, 2.6 2.5 2.2 increasing to ~R$ 13 bn by 2016. 2.1 2.0 1.5 1.5 1.1 7.5 0.8 0.9 0.8 6.2 5.6 R$ million 2.9 3,113 2,565 2,849 2,648 2,565 2.6 2,479 1,656 2,147 1.2 1.1 1.2 1.1 1.2 586 1,143 0.6 179 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 (E) 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 (E) Net Debt ND/EBITDA Investment capacity CCR’s investment capacity considering a maximum Net Debt/EBITDA ratio of 3.0x.
- 163. Investment capacity Financial strategy Maximum Company’s growth to be Commitment to pay out Net Debt/EBITDA Ratio financed through leverage. at least 50% of net income of 3.0x. as dividends.
- 164. Dividends Since its IPO, CCR has distributed on average 77% of net income as dividends 93% 1,128 R$ million 1,054 CAGR 90% 48.7% 127% 899 85% 852 85% 807 65% 92% 714 709 61% 672 605 603 580 547 532 500 58% 16% 355 307 263 183 152 30 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 (E) Net Income Dividends Payout Net Income (Market Consensus)
- 165. Wrap Up Yesterday Tomorrow R$ 4 bn per year in projects. R$ 40 bn per year in projects. 67% of EBITDA added after How much will be added?? IPO. R$ 17.70 per share. Stock price in this scenario?
- 166. “Invest, diversify andgrow: CCR 2020” Conclusions Renato Vale
- 167. Why CCRO3? Clearly definedand public strategy, with profitability first, followed by expansion; Competent and highly qualified professionals with a continuous process to prepare leaders, supporting the perpetuity of the business; Base scenario indicates the potential for significant upside, with limited downside; Cash generation of the current portfolio supports a strong dividend policy and high quality growth; Actions focused on the sustainable development of new markets and opportunities; Highly competitive access to capital markets; Solid financial situation that supports future growth.
- 168. Why CCRO3? With R$ 40 bn invested With capital in projects per year discipline... ...That’s how we’ll get there!
- 169. “Invest, diversify andgrow: CCR 2020” Discussion, questions and answers Renato Vale and Officers