3 q10 results presentation
TRANSCRIPT
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3Q10 Earnings
Results Presentation
11/12/2010
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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.
Forward-Looking Statements
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I - Highlights
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I - Highlights
Total traffic volume on our toll road concessions grew 12.4% year-on-year in 3Q10 to
17,558,000 equivalent vehicles.
Handled container volume climbed by 37.2% over 3Q09 to 153,524 TEUs.
Electricity output in 3Q10 generated revenue of R$18.428 million.
Gross Revenue increased by 27.5% in 3Q10 over the same period last year, reaching
R$135.042 million.
EBITDA grew by 27.0% to R$72.250 million in 3Q10.
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I - Highlights
Net income increased by 58.2% to R$15.250 million.
On July 20, Portonave signed an agreement with the unions representing the Santa Catarina
port employees (OGMO), terminating the class action filed by the Public Ministry of Labor.
On July 30, we were granted the right to explore the Garibaldi hydroelectric power plant for
35 years.
On August 11 and September 21, we announced the payment of interim dividends to our
shareholders.
On August 30, the Salto hydroelectric plant’s second turbine began operations.
Also on August 30, Concer announced that the National Ground Transportation Agency
(ANTT) had authorized a toll increase
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I – Subsequent Events
On October 1, the Diário Oficial da União published ANEEL’s decision to award the Garibaldi
hydro plant concession to the Company.
On October 22, Concepa announced a toll increase
On November 3, we announced that THP – Triunfo Holding de Participações S.A. had
transferred part of its shares to its controlling shareholders.
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II – 3Q10 Results
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15,616
17,558
14.000
14.500
15.000
15.500
16.000
16.500
17.000
17.500
18.000
3Q09 3Q10
Traffic – Equivalent Vehicles (‘000)
II – 3Q10 Results
12.4%
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3,144
3,667
6,307
6,905
6,165
6,987
-
1.000
2.000
3.000
4.000
5.000
6.000
7.000
8.000
9.000
10.000
3Q09 3Q10 3Q09 3Q10 3Q09 3Q10
Traffic – Equivalent vehicles in the concessionaries (‘000)
II – 3Q10 Results
ECONORTE CONCER CONCEPA
16.6%
9.5% 13.3%
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111,909
153,524
-
20.000
40.000
60.000
80.000
100.000
120.000
140.000
160.000
180.000
3Q09 3Q10
Container Handling - TEUs (‘000)
II – 3Q10 Results
37.2%
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105,915
135,042
-
20.000
40.000
60.000
80.000
100.000
120.000
140.000
160.000
3Q09 3Q10
Gross Revenue from Operations (R$ ‘000)
II – 3Q10 Results
27.5%
13
25,071
36,954
-
5.000
10.000
15.000
20.000
25.000
30.000
35.000
40.000
3Q09 3Q10
Operating Costs (R$ ‘000)
Net – Depreciation / Amortization
II – 3Q10 Results
47.4%
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16,767
11,879
-
2.000
4.000
6.000
8.000
10.000
12.000
14.000
16.000
18.000
3Q09 3Q10
Operating Expenses (R$ ‘000)
Net – Depreciation / Amortization
II – 3Q10 Results
-29.2%
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56,878
72,250
-
10.000
20.000
30.000
40.000
50.000
60.000
70.000
80.000
3Q09 3Q10
Adjusted EBITDA (R$ ‘000)
II – 3Q10 Results
27.0%
16
58.9%
56.4%
50,0%
52,0%
54,0%
56,0%
58,0%
60,0%
3Q09 3Q10
EBITDA Margin (%)
II – 3Q10 Results
-2.5p.p
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(5,400)
(17,035)(18.000)
(16.000)
(14.000)
(12.000)
(10.000)
(8.000)
(6.000)
(4.000)
(2.000)
-
3Q09 3Q10
Net Financial Results (R$ ‘000)
II – 3Q10 Results
215.5%
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9,641
15,250
-
2.000
4.000
6.000
8.000
10.000
12.000
14.000
16.000
18.000
3Q09 3Q10
Net Profit
(R$ ‘000)
II – 3Q10 Results
58.2%
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461,415
487,545
1.80x
1.79x
1,5
2
2,5
3
3,5
-
100.000
200.000
300.000
400.000
500.000
600.000
2Q10 3Q10
Net Debt (R$ ‘000) & Net Debt / EBITDA
III – Debt
5.7%
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IV – Capex
Balance of Investments in Fixed Assets
Triunfo 48,449 3.5%
Concer 352,581 25.8%
Concepa 314,206 22.9%
Econorte 205,903 15.0%
Portonave 161,249 11.8%
TPI-Log 118,861 8.7%
Santa Rita 8,663 0.6%
TBP 72,231 5.3%
NTL 28,710 2.1%
Vessel-Log 24,185 1.8%
Other Investments 34,253 2.5%
Total 1,369,291 100.0%
BALANCE OF INVESTMENTS IN FIXED ASSETS IN 2010
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IV – Capex
Investment in Fixed Assets
Triunfo 2,716 3.7%
Concer 2,333 14.8%
Concepa 16,578 22.6%
Econorte 8,790 7.4%
Portonave 1,320 2.0%
TPI-Log 244 24.7%
Santa Rita 927 1.4%
Vessel-Log 10,299 9.0%
NTL 8,279 13.8%
Other Investments 222 0.5%
51,708 100.0%
Rio Verde 4,164 8.1%
Capex with Rio Verde 55,872
INVESTMENTS IN FIXED ASSETS IN 2010
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www.tpisa.com.br
Tr iunf o São Paulo
Rua Olimpíadas 205 14º andar cj. 1402
CEP 04551-000 São Paulo SP BRFone 55 11 2169 3999
Fax 55 11 2169 3969
Rua Olimpíadas 205 14º andar cj. 1402 CEP 04551-000 São Paulo SP BR
Fone 55 11 2169 3999 Fax 55 11 2169 3939
www.triunfo.com