2. Forward Looking Statement
This presentation contains certain statements that are neither reported financial
results or other historical information. They are forward-looking statements.
Because these forward-looking statements are subject to risks and uncertainties,
actual future results may differ materially from those expressed in or implied by the
statements. Many of these risks and uncertainties relate to factors that are beyond
CCR’s ability to control or estimate precisely, such as future market conditions,
currency fluctuations, the behavior of other market participants, the actions of
governmental regulators, the Company's ability to continue to obtain sufficient
financing to meet its liquidity needs; and changes in the political, social and regulatory
framework in which the Company operates or in economic or technological trends or
conditions, inflation and consumer confidence, on a global, regional or national basis.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this document. CCR does not
undertake any obligation to publicly release any revisions to these forward looking
statements to reflect events or circumstances after the date of this presentation.
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4. Highlights
Operating
4.6% traffic increase in 1Q07.
Gross revenue totaled R$ 545.9 million (+6.1%).
Net Income reached R$ 146.8 million (+27.3%).
35.0% increase in AVI users, totaling 771 users.
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5. Highlights
Corporate
On April 10, 2007, CCR complemented the payment of dividends of R$ 0.50
per share for the fiscal year 2006, or R$ 201.6 million, added to R$ 254.0
million paid in September 2006, it represents a total payment of R$ 455.6
million for the fiscal year 2006, totaling a payout of 83.2% over the total
dividend paid for the fiscal year.
On April 11, 2007, CCR informed its shareholders and the market that the
Board of Directors of the “Northwest Parkway Public Highway Authority” elected
the consortium formed by CCR (10%) and Brisa (90%) the preferred bidder for
the concession of the “Northwest Parkway” highway.
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6. Results
1Q07’s results reflect a combination of factors...
R$ Million
Financial Highlights 1Q06 1Q07 Var %
Net Revenues 514.5 545.9 6.1%
Total Cost (1) (301.2) (285.4) -5.3%
EBIT 213.3 260.5 22.2%
EBIT Mg. 41.5% 47.7% +6.2 p.p.
Depreciation and Amortization (2) 85.3 80.3 -5.8%
EBITDA 298.6 340.9 14.2%
EBITDA Mg. 58.0% 62.4% +4.4 p.p.
Financial Result, net (40.2) (43.2) 7.4%
Net Income 115.4 146.8 27.3%
(1) Total Cost + Administrative Expenses
(2) Includes prepaid expenses
…traffic and reduction of operating costs
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7. Operating Margin Evolution
EBITDA x EBITDA Margin Adjusted* EBITDA and
margin
382
362
341
299 276
R$ million
R$ million
224 218
174
70% 70%
62%
67%
58% 66%
54%
52%
1Q04 1Q05 1Q06 1Q07 1Q04 1Q05 1Q06 1Q07
(*) Pro forma figures, excluding concession fee
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10. Net Revenue & Total Costs
Operating efficiency is a ...
546
514
411
331
Net Revenue
301 285 Other
252
213 12%
16% 14% Payroll
12% 12%
64%
10%
R$ (million)
10%
61% 14% Concession Fee
22%
22%
59%
22% 15% Third-Party
52%
28% 27% 30%
31% D&A
25% 24% 27% 27%
1Q04 1Q05 1Q06 1Q07
Other: insurance, rent, routine maintenance, marketing, travel and electronic payment.
Third-Party Services: auditing, consulting and shared services.
...continuous focus for CCR‘s management.
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11. Indebtedness
Current unleveraged balance sheet...
Gross Debt Net Debt
1,703
1,332 1,396 1.133
100% 1.116
1,237
87%
(R$ (million)
(R$ (million)
1.039
69%
1.70 983
67%
1.40
0.95
0.79
1Q04 1Q05 1Q06 1Q07 1Q04 1Q05 1Q06 1Q07
Short Term Long Term In R$ Net Debt Net Debt / EBITDA
100% In Local currency
...allows great flexibility to participate in new bids.
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12. Indebtedness
Sources of funding are neither a growth boundary...
Source of Funding Debt Amortization
Other
104.%-106.4% CDI BNDES
TJLP + 4.5%-5.0% 627
(R$ (million)
24% 21%
284 269
27% 28% 183 200
Debentures 85
Debentures 54
IGP-M + 9.5%-11%
103.3%-105% CDI
2007 2008 2009 2010 2011 2012 After 2012
...to the Company’s growth nor to refinancing its current portfolio.
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14. New Businesses
São Paulo Concessions
Mexico and United States
Federal Concessions
Secondary Market
Correlated Businesses
PPP`s
Brazil is still the main growth driver.
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15. Social and Cultural Responsibility Policy
People in 2006
Tela Brasil Cinema 236,000
Roda Brasil Circus 74,000
Culture
Road to Citizenship 539,000 children
I Use de Pedestrian Crossing 20,000 children, youngsters and adults
Ways to Life Institute 1,200 students
Education
Road to Health 25,000 truckers
Humanized Childbirth 21,000 people
RodoPac 20,000 drivers
Trucker’s Health 1,700 drivers
Odontological Trailler 5,000 drivers
Health
Back Home
Quality Gincane Received more than 291 tonnes of food
Life Volunteers 453 blood donators
I am “Sangue Bom” 800 blood donators
Social
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