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3Q09 EarningsResults Presentation

11/11/2009

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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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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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I - Highlights

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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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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 pre-established 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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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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II – 3Q09 Results

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15,616

15,707

15,300

15,350

15,400

15,450

15,500

15,550

15,600

15,650

15,700

15,750

3Q08 3Q09

Traffic – Equivalent Vehicles (‘000)

II – 3Q09 Results

-0.6%

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3,1443,253

6,240 6,306 6,214 6,166

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

3Q08 3Q09 3Q08 3Q09 3Q08 3Q09

Traffic – Equivalent vehicles in the concessionaries (‘000)

II – 3Q09 Results

ECONORTE CONCER CONCEPA

-3.4%

1.1% -0.8%

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88,085

111,909

-

20,000

40,000

60,000

80,000

100,000

120,000

3Q08 3Q09

Container Handling - TEUs (‘000)

II – 3Q09 Results

27.0%

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85,295

101,915

75,000

80,000

85,000

90,000

95,000

100,000

105,000

3Q08 3Q09

Gross Revenue from Operations (R$ ‘000)

II – 3Q09 Results

35.4%

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18,760

25,071

-

5,000

10,000

15,000

20,000

25,000

30,000

3Q08 3Q09

Operating Costs (R$ ‘000)Net – Depreciation / Amortization

II – 3Q09 Results

33.6%

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12,089

16,767

-

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

3Q08 3Q09

Operating Expenses (R$ ‘000)Net – Depreciation / Amortization

II – 3Q09 Results

38.7%

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46,587

56,878

-

10,000

20,000

30,000

40,000

50,000

60,000

3Q08 3Q09

Adjusted EBITDA (R$ ‘000)

II – 3Q09 Results

22.1%

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60.1%

58.9%

50.0%

52.0%

54.0%

56.0%

58.0%

60.0%

62.0%

3Q08 3Q09

EBITDA Margin (%)

II – 3Q09 Results

-1.2 p.p

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(49,497)

(5,400)

(60,000)

(50,000)

(40,000)

(30,000)

(20,000)

(10,000)

-

3Q08 3Q09

Net Financial Results (R$ ‘000)

II – 3Q09 Results

-89.1%

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(33,455)

9,641

(40,000)

(35,000)

(30,000)

(25,000)

(20,000)

(15,000)

(10,000)

(5,000)

-

5,000

10,000

15,000

3Q08 3Q09

Net Loss / Profit(R$ ‘000)

II – 3Q09 Results

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745,622

795,161

3.44 x

3.51x

720,000

740,000

760,000

780,000

800,000

2Q09 3Q09

3.4

3.45

3.5

3.55

3.6

Net Debt (R$ ‘000) & Net Debt / EBITDA

III – Debt

6.6%

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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

Total 1,761,765 100

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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

Total 77,033 100

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Triunfo São PauloRua Olimpíadas 205 14º andar cj. 1402

CEP 04551-000 São Paulo SP BRFone 55 11 2169 3999Fax 55 11 2169 3969

Rua Olimpíadas 205 14º andar cj. 1402 CEP 04551-000 São Paulo SP BRFone 55 11 2169 3999 Fax 55 11 2169 3939

www.triunfo.com