3 t09 inglês 091109
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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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Digite aqui o Título da PalestraDigite aqui o Nome do Palestrante e a Data
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$6.230 million.
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I – Subsequent Events
On October 2, Triunfo entered into an agreement with Companhia de Navegação Norsul to acquire 100% of NTL, a company whose sole asset is a container ship.
On October 9, the Company began a capital increase within the limits of authorized capital established in the Bylaws.
On October 16, Triunfo and its subsidiary Portonave announced that the Itajaí Port authority had updated the port’s operational parameters, reestablishing the conditions in effect before the silting up of the Itajaí-Açú River in November 2008.
On October 26, Concepa’s 7.3% tariff adjustment was authorized.
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Digite aqui o Título da PalestraDigite aqui o Nome do Palestrante e a Data
II – 3Q09 Results
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15,616
15,707
15,300
15,350
15,400
15,450
15,500
15,550
15,600
15,650
15,700
15,750
3Q08 3Q09
Traffic – Equivalent Vehicles (‘000)
II – 3Q09 Results
-0.6%
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3,1443,253
6,240 6,306 6,214 6,166
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
3Q08 3Q09 3Q08 3Q09 3Q08 3Q09
Traffic – Equivalent vehicles in the concessionaries (‘000)
II – 3Q09 Results
ECONORTE CONCER CONCEPA
-3.4%
1.1% -0.8%
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88,085
111,909
-
20,000
40,000
60,000
80,000
100,000
120,000
3Q08 3Q09
Container Handling - TEUs (‘000)
II – 3Q09 Results
27.0%
13
85,295
101,915
75,000
80,000
85,000
90,000
95,000
100,000
105,000
3Q08 3Q09
Gross Revenue from Operations (R$ ‘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%
15
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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w w w.tpisa.com.br
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
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