2. 1Q08
May, 2008
DISCLAIMER
The material contained in this presentation is general background information about Iochpe-Maxion S.A. (Iochpe)
as of the date of the presentation. It is information in summary form and does not purport to be complete. It is
not intended to be relied upon as advice to potential investors. No representation or warranty, express or
implied, is made concerning, and no reliance should be placed on, the accuracy, fairness, or completeness of the
information presented herein.
This presentation contains statements that are forward-looking within the meaning of Section 27A of the U.S.
Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. Such forward-looking
statements are only predictions and are not guarantees of future performance. Investors are cautioned that any
such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and
factors relating to the operations and business environments of Iochpe and its subsidiaries that may cause the
actual results of the companies to be materially different from any future results expressed or implied in such
forward-looking statements.
Although Iochpe believes that the expectations and assumptions reflected in the forward-looking statements are
reasonably based on information currently available to Iochpe management, Iochpe cannot guarantee future
results or events. Iochpe expressly disclaims a duty to update any of the forward-looking statement.
This presentation does not constitute an offer, or invitation, or solicitation of an offer, to subscribe for or
purchase any securities. Neither this presentation nor anything contained herein shall form the basis of any
contract or commitment whatsoever.
2
3. 1Q08
May, 2008
SIMPLIFIED CORPORATE STRUCTURE
Iochpe-Maxion S.A.
Iochpe-
50% 100%
Amsted-Maxion Fundição e
Amsted- Maxion Sistemas Automotivos
Equipamentos Ferroviários S.A. Ltda.
R$ 109.7 million1 (27%)
R$ 259.6 million1 (65%)
Railway Equipments
Automotive Components
Wheels and Chassis Division
Division
Railway freight cars: R$ 76.8 million1 (19%)
Wheels: R$ 106.4 million1 (27%) Autoparts: R$ 31.4 milhões1 (8%)
Castings: R$ 25.3 million1 (6%) and
wheels: R$ 7.6 million1 (2%)
Chassis: R$ 153.2 million1 (38%)
1
Consolidated net revenue in the first
quarter of 2008
3
4. 1Q08
May, 2008
HIGHLIGHTS – 1Q08
Consolidated net operating revenue of R$ 400.6 million, an increase of 40,0% over the
same period of last year
EBITDA(*) of R$ 61.3 million, an increase of 70.4% when compared with the same
quarter of last year
Net income of R$ 34.7 million, an increase of 203.7% over the same period of last year
Net debt bank of R$ 161.9 million (R$ 150.1 million in Mar, 07), or 0.9x EBITDA LTM(*)
(1.0x in Mar, 07)
(*) EBITDA, throughout this presentation means: net income plus income tax and social contribution, plus non-operating
result, plus net financial expenses, plus depreciation and amortization, plus goodwill amortization.
4
5. 1Q08
May, 2008
1Q08 – MAIN DRIVERS
Growth of the Brazilian production of vehicles and agricultural machinery
Recovery of domestic demand for railway freight cars
Impact of the real appreciation (1.7309 – 1Q08 x 2.0978 – 1Q07) on net revenue of
exports (reduction of R$ 11.3 million)
5
20. 1Q08
May, 2008
EXPORTS BY DESTINATION
54%
44%
24%
22%
15%
9%
8%
6% 5% 5%
4% 3% 2%
0%
Africa / Midle East Latin America Asia / Oceanic Canada United States Europe Mexico
1Q07 1Q08
20
23. 1Q08
May, 2008
EBITDA* (R$ million)
14%
13% 13% 15%
13%
14%
13%
205
156 163 165
89
61
36
2003 2004 2005 2006 2007 1Q07 1Q08
EBITDA % NOR
(*) EBITDA, throughout this presentation means: net income plus income tax and social contribution, plus non-operating result, plus net
financial expenses, plus depreciation and amortization, plus goodwill amortization.
23
25. 1Q08
May, 2008
NET INCOME (R$ million)
72 9%
72
58
51
6%
5% 5% 5%
4% 35
-1% 11
(5)
2003 2004 2005 2006 2007 1Q07 1Q08
Net Income % NOR
25
26. 1Q08
May, 2008
NET BANK DEBT (R$ million)
1.3
1.0
0.9
0.8 0.8
162
0.6 0.6 150
132 128
115 125
102
2003 2004 2005 2006 2007 1Q07 1Q08
Net Debt x EBITDA
(*) EBITDA, throughout this presentation means: net income plus income tax and social contribution, plus non-operating result, plus net
financial expenses, plus depreciation and amortization, plus goodwill amortization.
26
27. 1Q08
May, 2008
INDEBTEDNESS – MAR/08 (R$ million)
SHORT LONG
LINES TOTAL
TERM TERM
Debt Indexation
Trade Finance / Export 37.2 37.7 74.9
Equipment Finance / EXIM 147.2 41.3 188.5
184.4 79.0 263.4
(-) Cash & Marketable Securities 101.5 - 101.5
Net Debt 82.9 79.0 161.9 81%
Indexation Average Cost
Index by TJLP, CDI and IGP-M in 16%
85% CDI
R$
Index by Dólar in US$ 7.2% per year 2%
1%
TJLP Dollar IGP-M YUAN
At the end of Mar 08, the company had consolidated contracts for US$ 64.2 million of non-deliverable forward
operations at R$ 1.8809 per USD average FX rate, for the period of Apr 08 to Mar 09
Forward positive operations to expire is not accounted, only the positive operations expired
According to Brazilian GAAP, if at any end of a month a negative future result is foreseen on the operations,
the full negative future result must be provisioned at that time, using the average month value of the operations
to expire
27
30. 1Q08
May, 2008
SHARES PERFORMANCE - LTM
90.00%
80.00%
70.00%
60.00%
50.00%
48.88%
42.20%
40.00%
38.63%
30.00%
20.00%
10.00%
0.00%
May-07 Jun-07 Jul-07 Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08
MYPK3 IBOV IBX-100
Closing price of the last day of the month
Apr/08 – closing price of Apr, 30 (R$ 35.73)
30
31. 1Q08
May, 2008
AVERAGE DAILY TRADE VOLUME – R$ thousand
110
91
89
86
70
69
56 55 43
7,738
7,048
5,577 43
37 37
3,723 4,114
2,948 2,952
2,598
1,413 1,747 1,671 1,377
May-07 Jun-07 Jul-07 Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Jan-08 Feb-08 Mar-08 Apr-08
Volume Negócios
Apr 08 – volume and trades until the 30th
Due to the low liquidity of MYPK3 before the conversion of the shares, was considered the volume and trade of
MYPK4 before the conversion (02/26/08) 31
32. 1Q08
May, 2008
PERSPECTIVAS
Strong domestic demand for vehicles and agriculture machinery
Recovery of domestic demand for railway freight cars
Start up of commercial vehicle wheels plant in China in the second quarter
32
33. 1Q08
May, 2008
Corporate Governance
A Special Meeting of the Iochpe-Maxion’s preferred shareholders held on Jan 17, 2008 approved the
conversion of the preferred shares to common shares in the proportion of 1.2 preferred shares for 1.0 common
share
On the same date an Extraordinary Shareholders Meeting approved the conversion and also approved the
proposed amendment to the Company’s Bylaws to align them with the Novo Mercado trading segment of
Bovespa
The period during which dissenting shareholders could exercise their right to withdraw terminated on Feb 20,
2008 and no right to withdraw was exercised
Iochpe-Maxion was listed on the Novo Mercado on Mar 24, 2008
Restructuring
Iochpe-Maxion intend to carry out, over the next few months, the grouping of its subsidiary Maxion Sistemas
Automotivos Ltda.
This restructuring aims to simplify the company’s operational and corporate structure, by concentrating all its
main Brazilian operations, except for the subsidiary Amsted Maxion Equipamentos Ferroviarios S.A., in a single
company, which could generate a non-recurring gain of approximately R$76 million, upon the conclusion of such
restructuring
The grouping of Maxion Sistemas Automotivos Ltda. into Iochpe-Maxion will be implemented based on its book
value
On March 24, 2008, an Extraordinary Shareholder’s meeting approved the transfer of the company’s main
address from the city of São Paulo to the municipality of Cruzeiro, state of São Paulo, where the headquarter of
its subsidiary Maxion Sistemas Automotivos is located 33