2. Disclaimer
This presentation may contain 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
4. Highlights
TRAFFIC:
Increase of 5.1% compared to 1Q11.
ELECTRONIC TOLL COLLECTION:
Electronic toll collections reached 65.6% of total toll revenues, with the number
of users of the STP system expanding by 23.8% compared to March 2011,
reaching 3,374,000 active tags.
EBITDA and EBITDA MARGIN
Increase of +17,9% in EBITDA, with margin of 65.3%, up 1.9 p.p. in relation to
1Q11.
NET INCOME
Reached R$ 288.6 million, benefited by increased cash flow generation,
reduction of operational costs and financial expenses.
4
5. Subsequent Event
On April 4, 2012 CCR reported to its shareholders and the market in general that, on
that date, its subsidiary, Companhia de Participações em Concessões, signed a Stock
Purchase and Sale and Other Agreements Contract irrevocable and undeniable for
the acquisition of shares representing 80.00% of the capital stock of BARCAS, for the
acquisition price, subject to adjustments as defined in the contract, of R$ 72.0 million
(January 2011).
On April 13, 2012, the Company approved the distribution of supplementary
dividends related to the fiscal of 2011, proposed by company’s management, in the
amount of R$ 0.06/share, distributed as from April 27, 2012. Considering the
anticipation of dividends paid in September 30, 2011, of R$ 0.40/share, in 2011,
payout was 89.2%.
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6. Subsequent Event
On April 19, 2012 CCR reported to its shareholders and the market in general that the
Special Tender Commission declared the Consórcio Rio Olímpico, composed by CCR
(33.33%), Investimentos e Participações em Infraestrutura S.A. - Invepar (33.34%) and
Odebrecht TransPort Participações S.A. (33.33%), the winner of the Transolímpica, by
offering the highest sum in payment for the award of the concession, in the amount of R$
57.9 million.
On April 26, 2012 CCR reported to its shareholders and the market in general that, as a
result of the Material Fact published by the Company on April 19, 2012, the
CONCESSIONÁRIA TRANSOLÍMPICA S.A. signed the Concession Contract for the
concession award to build, operate, maintain, monitor, conserves and improve the “Ligação
Transolímpica” for a period of 35 (thirty five) years.
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7. Earnings Highlights
Expansion of EBITDA margin as a result of...
Financial Indicators (R$ MM) 1Q11 1Q12 Chg %
Net Revenues* 1,043.4 1,194.6 14.5%
EBIT 483.5 607.6 25.7%
EBIT Mg. 46.3% 50.9% +4,6 p.p
EBITDA 662.0 780.5 17.9%
EBITDA Mg. 63.4% 65.3% +1,9 p.p
Net Income 175.2 288.6 64.7%
Net Debt / EBITDA LTM 2.3 1.9 -
EBITDA / CAPEX 3.9 7.2 -
EBITDA / Interes and Monetary Variation 3.5 4.3 -
* Net Operational Revenues excludes Construction Revenues
... Increased cash generation and capital discipline.
8
10. Revenues and Costs (1Q11 X 1Q12)
Aprox. contribution to
Source Increase %
EBITDA increase (R$ MM)
EBITDA increased 17.9% +31 Traffic 5.1%
+ R$ 119 MM +48 Tariff and ancillary rev. 7.9%
+15 Other revenues 26.2%
+23 Ebitda margin increase +1.9 p.p.
Total Costs (R$ MM)
15%
1% Costs 1Q11 X 1Q12 (R$ 45%
2% MM) Total
13%
Costs
16 (62) Reduction
14 2 1
35% 5%
696
21%
(19) 661
13
1Q11 Depreciation Third-Party Concession Personnel Construction Maintenance Other Costs 1Q12
and Services f ee costs and Costs Costs Provision
Amortization anticipated
expenses
Provisions and
+ Traffic ViaQuatro Postponements Basis update ViaQuatro
energy 12
11. Financial Results Highlights
Better financial results reflects…
Net Financial Result (R$ MM) 1Q11 1Q12 Chg %
Net Financial Result (205.7) (169.1) -17.8%
- Result from Hedge Operation (43.4) (6.6) -84.8%
- Monetary Variation (14.5) (4.7) -67.4%
- Exchange Rate Variation on Loans, Financing and Debentures 26.1 14.7 -43.5%
- Present Value Adjustment of Maintenance Provision (19.5) (14.6) -25.2%
- Interest on Loans, Financing and Debentures (176.2) (176.3) 0.1%
- Interest and Investment Income and other Revenues 43.5 34.4 -21.1%
- Others¹ (21.7) (16.0) -15.6%
¹ Comissions, fees, taxes, fines and interest on taxes
… appreciation of the real in relation to the dollar and lower monetary variation registered in the
period. 13
12. Debt in March 31, 2012
Gross debt by indexer
IPCA Others
TJLP 2.6% 0.1%
4.6%
IGP-M
4.9%
• Total gross debt: R$ 7.0 bi USD
7.1%
• Net debt/ EBITDA: 1.9X
CDI
80.7%
Amortization Schedule Amortization Schedule
2,368
208 1,491
1,109 965 895
2,156 282 180
204 86 55
1,001 862 838 799
16
2012 2013 2014 2015 2016 from 2017 to
2023
CDI Others USD
13. Debt
Reduction of leverage indexes…
Net Debt/ EBITDA LTM
2.5
2.3 2.3
2.2
2.1
1.9 1.9
1.6 6,186 6,152
1.5 5,893
1.5 5,633 5,565 5,630
2.5
4,169 2.3 2.3
3,456 2.2
3,067 2.1
1.9 1.9
1.6
1.5 1.5
1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12
Net Debt (R$ MM) Net Debt/EBITDA (x)
...due to strong cash generation and maturation of recent projects.
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14. Debt Structure and Amortization
After these refinancings, the new amortization schedule will reflect ...
Amortization 2012 - 2013 Expected schedule after refinancing
In R$ MM
Amortization 2012 2013
2,500
AutoBan 912.4 304.1
2,000
SPVias 878.5 292.8
1,500
ViaOeste 160.1 159.5
NovaDutra 174.4 144.2 1,000
500
TOTAL 2,368.3 1,491.1
Projects performed and contracts in progress 0
Mandated financing 2012 2013 2014 2015 2016 From 2017
Current Target
90% in 2012 e 60% in 2013
... broaden financial capacity for new business.
* Total debt described in the amortization schedule set above does not consider transaction costs.
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15. Track Record
CCR Track Record: diversification and new bids
Milestone Concession Awarded Acquisition Concession Extension
IPO
STP
(2002)
AutoBAn + Follow-on (2003)
ViaOeste (April 2004)
ViaOeste RodoNorte (October 2004)
Concession (2005)
ViaQuatro
Extension (2006)
(2006)
USA
(2007) Via Lagos
Concession
RenoVias Extension (2011)
(2008)
RodoAnel
(2008) 2012:
SP VIAS
Controlar • Airports: Quito, San
(2010)
(2009) Jose and Curaçao
• Barcas
Follow-on
• Transolímpica
(2009)
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