1. 1

2. 3Q09 Earnings
Results Presentation
11/11/2009
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3. Forward-Looking Statements
This release contains forward-looking statements relating to the prospects of the business,
estimates for operating and financial results, and those related to growth prospects of TPI –
Triunfo Participações e Investimentos S.A.. These are merely projections and, as such, are
based exclusively on the expectations of the Company’s management concerning the future of
the business. Such forward-looking statements depend substantially on changes in market
conditions, the performance of the Brazilian economy, the sector and the international markets,
and are, therefore, subject to changes without previous notice.
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4. Accounting Changes
In compliance with CVM Official Letter CVM/SNC/SEP 2/2009, the information for the quarter
ended September 30, 2008 (3Q08), was not adjusted in accordance with the accounting practices
in effect in the current quarter. The effects on net income and shareholders’ equity deriving from
the application of said adjustments are disclosed in the explanatory notes to the 3Q09. The
quarterly information is presented in thousands of Reais, except when otherwise stated.
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5. I - Highlights
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6. I - Highlights
Total traffic volume on our toll road concessions in 3Q09 fell by 0.6% year-on-year, to 15.615
million equivalent vehicles.
Handled container volume increased by 27.0% over 3Q08 to 111,909 TEUs.
Consolidated Gross Operating Revenue climbed by 24.2% year-on-year, to R$105.915 million.
Adjusted EBITDA totaled R$56.878 million in 3Q09, 22.1% up on 3Q08.
Net income came to R$9.641 million, versus a net loss of R$33.455 million in 3Q08.
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7. I - Highlights
On July 14, Rio Verde’s unit 1 turbine rotor was lowered into place one day ahead of
schedule.
On July 23, Iceport was included in the Cold Store category of establishments authorized to
export to EU member countries.
On July 29, Iceport was granted a license to stock meat and byproducts, subject to preestablished cargo storage conditions, for export to Russia.
On August 26, Concer’s annual tariff adjustment of 4.5% was authorized.
On September 29, Rio Verde sold all the energy produced by the 116 MW Salto hydro Plant
between the start-up of commercial operations and the beginning of the long-term Power
Purchase Agreement with Votener to CEMIG Geração e Transmissão S.A. for R$6.230 million.
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8. I – Subsequent Events
On October 2, Triunfo entered into an agreement with Companhia de Navegação Norsul to
acquire 100% of NTL, a company whose sole asset is a container ship.
On October 9, the Company began a capital increase within the limits of authorized capital
established in the Bylaws.
On October 16, Triunfo and its subsidiary Portonave announced that the Itajaí Port authority
had updated the port’s operational parameters, reestablishing the conditions in effect before
the silting up of the Itajaí-Açú River in November 2008.
On October 26, Concepa’s 7.3% tariff adjustment was authorized.
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9. II – 3Q09 Results
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10. II – 3Q09 Results
Traffic – Equivalent Vehicles (‘000)
15,750
15,700
15,707
-0.6%
15,650
15,600
15,616
15,550
15,500
15,450
15,400
15,350
15,300
3Q08
3Q09
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11. II – 3Q09 Results
Traffic – Equivalent vehicles in the concessionaries (‘000)
10,000
9,000
8,000
1.1%
7,000
6,000
-0.8%
6,240
6,306
6,214
6,166
3Q08
3Q09
3Q08
3Q09
5,000
-3.4%
4,000
3,000
3,253
3,144
2,000
1,000
3Q08
3Q09
ECONORTE
CONCER
CONCEPA
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12. II – 3Q09 Results
Container Handling - TEUs (‘000)
120,000
27.0%
111,909
100,000
80,000
88,085
60,000
40,000
20,000
3Q08
3Q09
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13. II – 3Q09 Results
Gross Revenue from Operations (R$ ‘000)
105,000
101,915
100,000
35.4%
95,000
90,000
85,000
85,295
80,000
75,000
3Q08
3Q09
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14. II – 3Q09 Results
Operating Costs (R$ ‘000)
Net – Depreciation / Amortization
30,000
33.6%
25,000
25,071
20,000
18,760
15,000
10,000
5,000
3Q08
3Q09
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15. II – 3Q09 Results
Operating Expenses (R$ ‘000)
Net – Depreciation / Amortization
18,000
38.7%
16,000
16,767
14,000
12,000
12,089
10,000
8,000
6,000
4,000
2,000
3Q08
3Q09
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16. II – 3Q09 Results
Adjusted EBITDA (R$ ‘000)
60,000
22.1%
56,878
50,000
46,587
40,000
30,000
20,000
10,000
3Q08
3Q09
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17. II – 3Q09 Results
EBITDA Margin (%)
62.0%
-1.2 p.p
60.0%
60.1%
58.9%
58.0%
56.0%
54.0%
52.0%
50.0%
3Q08
3Q09
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18. II – 3Q09 Results
Net Financial Results (R$ ‘000)
3Q08
3Q09
(5,400)
(10,000)
(20,000)
-89.1%
(30,000)
(40,000)
(50,000)
(49,497)
(60,000)
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19. II – 3Q09 Results
Net Loss / Profit
(R$ ‘000)
15,000
10,000
9,641
5,000
3Q08
3Q09
(5,000)
(10,000)
(15,000)
(20,000)
(25,000)
(30,000)
(35,000)
(33,455)
(40,000)
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20. III – Debt
Net Debt
(R$ ‘000) & Net Debt / EBITDA
800,000
3.6
795,161
780,000
3.55
6.6%
760,000
740,000
3.51x
745,622
3.5
3.45
3.44 x
720,000
3.4
2Q09
3Q09
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21. IV – Capex
Balance of Investments in Fixed Assets
Assets on September 30, 2009
Total
%
Triunfo
151,603
8.6
Concer
385,388
21.9
Concepa
302,607
17.2
Econorte
221,618
12.6
Rio Verde
445,308
25.3
Portonave
168,546
9.6
Outros Investimentos
86,695
4.9
1,761,765
100
Total
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22. IV – Capex
Investment in Fixed Assets
Fixed Assets on 3Q09
Total
%
Triunfo
1,983
2.6
Concer
5,684
7.4
Concepa
6,729
8.7
Econorte
5,868
7.6
Rio Verde
53,566
69.5
Portonave
1,300
2.4
Outros Investimentos
1,903
4.2
77,033
100
Total
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23. www.triunfo.com
www.tpisa.com.br
Rua Olimpíadas 205 14º Triunfo 1402 CEP 04551-000 São Paulo SP BR
andar cj. S ão Paulo
Rua Olimpíadas 205 Fax 55 cj. 2169
Fone 55 11 2169 3999 14º andar 11 1402 3939
CEP 04551-000 São Paulo SP BR
Fone 55 11 2169 3999
Fax 55 11 2169 3969
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