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3Q07 Results Presentation

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TegmaRI

- The document summarizes Tegma's 3Q07 results, including financial highlights showing increased revenue and earnings compared to 3Q06. Net revenue grew 35.6% to R$199.7 million driven by 40.4% growth in the automotive division. Adjusted EBITDAR rose 26.9% and net income increased 27.3% despite non-recurring expenses. Guidance forecasts further revenue and profit growth in 2007 and 2008.

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3Q07 R lt3Q07 Results Presentation
Agenda • Recent Events • Strategic Highlights • Financial Highlights• Financial Highlights • Financial Results • 2007 Guidance • 2008 Guidance 2
3Q073Q07 RESULTSRESULTS 3Q073Q07 RESULTSRESULTS Results from the 3Q06, 9M06 and 1Q07, unless otherwise indicated, are presented on a pro forma basis, combining Tegma, Bonifácio Logística e Transportes Ltda (Boni), Coimex 3 g g g p ( ) Logística Integrada S.A (C.L.I.) and P.D.I Comércio Indústria e Serviços Ltda (P.D.I) as if the acquisitions of Boni, C.L.I, and P.D.I had taken place on January 1, 2006.
4 Recent Events • Tegma Venezuela: This quarter marks the first step in our globalization strategy, with the start-up of Tegma Venezuela, targeted at the new vehicle transportation market in that country. The Venezuela operation is initially targeted at serving General Motors, but we expect to expand the operations to other automakers operating in that country. •Shell Operation: We started Shell’s fuel and jet fuel transportation operations with a total investment of approximately R$18 million, and forecasted annual net revenue of R$19 million. 3Q07 Recent Events
3Q07 Strategic Highlights Strategic Highlights Th h f h f h bil i d d 34 7%•The hefty pace growth of the automobile industry represented a 34.7% increase in automobile sales in the domestic market in the 3Q07 compared to the 3Q06. This performance has been boosted by the drop in the Brazilian interbank interest rate, longer repayment periods and a stableBrazilian interbank interest rate, longer repayment periods and a stable economy. I t t f R$20 7 illi t th i iti f 127 i t• Investment of R$20.7 million to the acquisition of 127 equipments, among them 29 tractors and 98 trailers for new operations and replacement of existing equipment. 5
3Q07 Financial Highlights Financial Highlights •Consolidated net revenue in the 3Q07 totaled R$199.7 million, 35.6% up on the third quarter of 2006. •Adjusted EBITDAR had a 26.9% upturn and moved from R$ 26.0 million to R$ 32.9 million in the 3Q07. •The Net Profit, excluding the non-recurring expenses, grew 27.3%, going from R$13.0 million in the 3Q06 to R$16.6 million in the 3Q07. 6
Automotive Division Net Revenue grew by 40.4% year- on-year: 118 4 166.2 • the volume of transported automobiles increased by 31.1%; i i th k b 118.4 40.4% 35.3% • increase in the average km by 6.6%; • new autopart transportation operations and increase of the 20.9 28.2 operations and increase of the existing ones. NET REVENUE Adjusted EBITDAR 3Q06 3Q07 Adjusted EBITDAR grew by 35.0% year-on-year. In relation to the net revenue, EBITDAR margin had a slight decrease of 0.7pp when compared to the 3Q06, chiefly due to: •strong growth in CATLOG operations auto parts transportation and yards 7 strong growth in CATLOG operations, auto parts transportation and yards management, which generate lower margins •rise in administrative expenses (publications, auditing and consultancy services).
Other Sectors Division Net Revenue grew by 16.0% in the 3Q07 year-on-year due to: 28.9 33.5 • Revenue from transportation of pulp and paper from the contract signed with VCP as of in the 4Q06; and 16.0% -6 7%and • Increase in the storage and inventory management revenue, chiefly due to the new contract with 5.0 4.7 6.7% y Claro, established in the 2Q07. NET REVENUE Adjusted EBITDAR 3Q06 3Q07 Adjusted EBITDAR of the Other Sector moved down by 6.7% from the 3Q06 to 3Q07 mainly due to: • the delay in the conclusion of the productivity project of HPC; and 8 • the delay in the conclusion of the productivity project of HPC; and • start-up of the Shell operations, with smaller volumes than expected.
Consolidated Net Revenue 554.6 310.1 374.8 520.5 35.6% 32.2% 147 2 199.7 393.6 35.6% 147.2 2004 2005 2006 3Q06 3Q07 9M06 9M07 9 Consolidated Net Revenue grew by 35.6% year-on-year. The Automotive Division increased by 40.4% and the Other Sectors Division, 16.0%.
Consolidated Adjusted EBITDAR 89.6 59 2 36.9% 53.1 59.2 83.6 26.9% 26.0 32.9 61.1 2004 2005 2006 3Q06 3Q07 9M06 9M07 Adjusted EBITDAR grew by 26 9% year on year The Automotive Division increased 10 Adjusted EBITDAR, grew by 26.9% year-on-year. The Automotive Division increased by 35.0% and the Other Sectors Division moved down by 6.7%.
Consolidated Net Income 30.7 33.6 27.4 33.7 27.5% 27 3% 13 0 16.6 26.4 33.727.3% 13.0 2004 2005 2006 3Q06 3Q07 9M06 9M07 Net Income grew 27.3% in the 3Q07 compared to the 3Q06, representing 8.3% of 11 g Q p Q , p g Net Revenue. Considering non-recurring expenses in the period, our net income would amount to R$15.6 million.
Cash Balance and Indebtness . . . . . . BALANCE dec - 06 . . INDEBTNESS (INCLUDES LEASE FINANCING) mar - 07 jun - 07 sep - 07dec - 06 mar - 07 jun - 07 sep - 07 Indebtness / Adjusted EBITDAR (12 months) Note 1: Amounts in Dec-06 and Mar-07 not include Boni CLI and P D I 12 Note 1: Amounts in Dec 06 and Mar 07 not include Boni, CLI and P.D.I. Note 2: Amounts of indebtness include debit balance of the lease financing, brought to present value
2007 Guidance MaximumMinimum 730 17 0% Net Revenue (R$ million) Adj t d EBITDAR M i MaximumMinimum 710 16 0% 60 17.0% CAPEX (R$ million) Adjusted EBITDAR Margin 16.0% 50 13
2008 Guidance MaximumMinimum 1,000 19 0% Net Revenue (R$ million) Adj t d EBITDAR M i MaximumMinimum 850 17 0% 70 19.0% CAPEX (R$ million) Adjusted EBITDAR Margin 17.0% 50 14
Disclaimer The forward-looking statements contained in this report are subject to risks and uncertainties. They are based on the Management’s beliefs and assumptions and information currently available to the Company Such statements include information about our current plans beliefs orto the Company. Such statements include information about our current plans, beliefs or expectations, as well as those of the Board of Directors and Board of Executive Officers. These reservations concerning forward-looking statements also apply to information on our possible or presumed operating results, as well as declarations preceded by, including or followed b h dby such words as "believe", "may", "will", "continue", "expect", "foresee", "intend", "plan", "estimate" and other similar expressions. Forward-looking statements do not constitute a guarantee of performance. Since they refer to theg g p y future, they depend on circumstances that may or may not occur and are therefore subject to risks, uncertainties and assumptions. Future results and the creation of value for shareholders may differ substantially from those expressed or suggested by the forward-looking statements. These results and values depend on many factors beyond TEGMA’s control or expectations. 15

More Related Content

3Q07 Results Presentation

  • 1. 3Q07 R lt3Q07 Results Presentation
  • 2. Agenda • Recent Events • Strategic Highlights • Financial Highlights• Financial Highlights • Financial Results • 2007 Guidance • 2008 Guidance 2
  • 3. 3Q073Q07 RESULTSRESULTS 3Q073Q07 RESULTSRESULTS Results from the 3Q06, 9M06 and 1Q07, unless otherwise indicated, are presented on a pro forma basis, combining Tegma, Bonifácio Logística e Transportes Ltda (Boni), Coimex 3 g g g p ( ) Logística Integrada S.A (C.L.I.) and P.D.I Comércio Indústria e Serviços Ltda (P.D.I) as if the acquisitions of Boni, C.L.I, and P.D.I had taken place on January 1, 2006.
  • 4. 4 Recent Events • Tegma Venezuela: This quarter marks the first step in our globalization strategy, with the start-up of Tegma Venezuela, targeted at the new vehicle transportation market in that country. The Venezuela operation is initially targeted at serving General Motors, but we expect to expand the operations to other automakers operating in that country. •Shell Operation: We started Shell’s fuel and jet fuel transportation operations with a total investment of approximately R$18 million, and forecasted annual net revenue of R$19 million. 3Q07 Recent Events
  • 5. 3Q07 Strategic Highlights Strategic Highlights Th h f h f h bil i d d 34 7%•The hefty pace growth of the automobile industry represented a 34.7% increase in automobile sales in the domestic market in the 3Q07 compared to the 3Q06. This performance has been boosted by the drop in the Brazilian interbank interest rate, longer repayment periods and a stableBrazilian interbank interest rate, longer repayment periods and a stable economy. I t t f R$20 7 illi t th i iti f 127 i t• Investment of R$20.7 million to the acquisition of 127 equipments, among them 29 tractors and 98 trailers for new operations and replacement of existing equipment. 5
  • 6. 3Q07 Financial Highlights Financial Highlights •Consolidated net revenue in the 3Q07 totaled R$199.7 million, 35.6% up on the third quarter of 2006. •Adjusted EBITDAR had a 26.9% upturn and moved from R$ 26.0 million to R$ 32.9 million in the 3Q07. •The Net Profit, excluding the non-recurring expenses, grew 27.3%, going from R$13.0 million in the 3Q06 to R$16.6 million in the 3Q07. 6
  • 7. Automotive Division Net Revenue grew by 40.4% year- on-year: 118 4 166.2 • the volume of transported automobiles increased by 31.1%; i i th k b 118.4 40.4% 35.3% • increase in the average km by 6.6%; • new autopart transportation operations and increase of the 20.9 28.2 operations and increase of the existing ones. NET REVENUE Adjusted EBITDAR 3Q06 3Q07 Adjusted EBITDAR grew by 35.0% year-on-year. In relation to the net revenue, EBITDAR margin had a slight decrease of 0.7pp when compared to the 3Q06, chiefly due to: •strong growth in CATLOG operations auto parts transportation and yards 7 strong growth in CATLOG operations, auto parts transportation and yards management, which generate lower margins •rise in administrative expenses (publications, auditing and consultancy services).
  • 8. Other Sectors Division Net Revenue grew by 16.0% in the 3Q07 year-on-year due to: 28.9 33.5 • Revenue from transportation of pulp and paper from the contract signed with VCP as of in the 4Q06; and 16.0% -6 7%and • Increase in the storage and inventory management revenue, chiefly due to the new contract with 5.0 4.7 6.7% y Claro, established in the 2Q07. NET REVENUE Adjusted EBITDAR 3Q06 3Q07 Adjusted EBITDAR of the Other Sector moved down by 6.7% from the 3Q06 to 3Q07 mainly due to: • the delay in the conclusion of the productivity project of HPC; and 8 • the delay in the conclusion of the productivity project of HPC; and • start-up of the Shell operations, with smaller volumes than expected.
  • 9. Consolidated Net Revenue 554.6 310.1 374.8 520.5 35.6% 32.2% 147 2 199.7 393.6 35.6% 147.2 2004 2005 2006 3Q06 3Q07 9M06 9M07 9 Consolidated Net Revenue grew by 35.6% year-on-year. The Automotive Division increased by 40.4% and the Other Sectors Division, 16.0%.
  • 10. Consolidated Adjusted EBITDAR 89.6 59 2 36.9% 53.1 59.2 83.6 26.9% 26.0 32.9 61.1 2004 2005 2006 3Q06 3Q07 9M06 9M07 Adjusted EBITDAR grew by 26 9% year on year The Automotive Division increased 10 Adjusted EBITDAR, grew by 26.9% year-on-year. The Automotive Division increased by 35.0% and the Other Sectors Division moved down by 6.7%.
  • 11. Consolidated Net Income 30.7 33.6 27.4 33.7 27.5% 27 3% 13 0 16.6 26.4 33.727.3% 13.0 2004 2005 2006 3Q06 3Q07 9M06 9M07 Net Income grew 27.3% in the 3Q07 compared to the 3Q06, representing 8.3% of 11 g Q p Q , p g Net Revenue. Considering non-recurring expenses in the period, our net income would amount to R$15.6 million.
  • 12. Cash Balance and Indebtness . . . . . . BALANCE dec - 06 . . INDEBTNESS (INCLUDES LEASE FINANCING) mar - 07 jun - 07 sep - 07dec - 06 mar - 07 jun - 07 sep - 07 Indebtness / Adjusted EBITDAR (12 months) Note 1: Amounts in Dec-06 and Mar-07 not include Boni CLI and P D I 12 Note 1: Amounts in Dec 06 and Mar 07 not include Boni, CLI and P.D.I. Note 2: Amounts of indebtness include debit balance of the lease financing, brought to present value
  • 13. 2007 Guidance MaximumMinimum 730 17 0% Net Revenue (R$ million) Adj t d EBITDAR M i MaximumMinimum 710 16 0% 60 17.0% CAPEX (R$ million) Adjusted EBITDAR Margin 16.0% 50 13
  • 14. 2008 Guidance MaximumMinimum 1,000 19 0% Net Revenue (R$ million) Adj t d EBITDAR M i MaximumMinimum 850 17 0% 70 19.0% CAPEX (R$ million) Adjusted EBITDAR Margin 17.0% 50 14
  • 15. Disclaimer The forward-looking statements contained in this report are subject to risks and uncertainties. They are based on the Management’s beliefs and assumptions and information currently available to the Company Such statements include information about our current plans beliefs orto the Company. Such statements include information about our current plans, beliefs or expectations, as well as those of the Board of Directors and Board of Executive Officers. These reservations concerning forward-looking statements also apply to information on our possible or presumed operating results, as well as declarations preceded by, including or followed b h dby such words as "believe", "may", "will", "continue", "expect", "foresee", "intend", "plan", "estimate" and other similar expressions. Forward-looking statements do not constitute a guarantee of performance. Since they refer to theg g p y future, they depend on circumstances that may or may not occur and are therefore subject to risks, uncertainties and assumptions. Future results and the creation of value for shareholders may differ substantially from those expressed or suggested by the forward-looking statements. These results and values depend on many factors beyond TEGMA’s control or expectations. 15