3q09 results presentation
TRANSCRIPT
Presentation of Results for the
3rd Quarter of 2009 (3Q09)
November 16, 2009
The 3Q09 results were prepared in compliance with Law 11,638/2007 and Executive Order 449/2008.
As allowed by CVM through its Circular CVM/SNC/SEP 02/2009, the information of 3Q08 presented
together with the information of 3Q09 was not adjusted for comparison purposes pursuant to said Law
and Executive Order.
Presentation of Results for the 3rd Quarter of 2009
2
Agenda
• Recent Events
• Financial Results
3
Recent Events
• Dividend of R$ 10 million (approx. R$
0.15/share) paid on November 12, 2009.
• The Company has so far paid R$ 30.0
million in interim dividend for the fiscal year
2009 (approx. R$0.45/share).
Payment of interim dividend
30.0
54.3
42.1
49.8
33.9
22.2
2004 2005 2006 2007 2008 2009
100.9%
Payment of dividend per fiscal year- R$ million
72.3% 111.7% 95.0% 102.5%
Payout
4
Recent Events
• On October 29, 2009, we inaugurated
the new facilities at the Distribution
Center located in the city of Cariacica,
Espírito Santo.
• Built-up area of 15,000 m2 with storage
capacity for 17,300 pallet positions.
• Investments of R$ 21.5 million.
5
Recent Events
• In line with its growth strategy focused on value generation, the Company
decided not to renew the wood chip transportation agreement with VCP as
the operation did not present the profitability levels in accordance with the
Company´s policy.
• We estimate the impact of the discontinuance on cash flow to be positive
in R$ 6.0 million approximately, which will be booked in accordance with
the sales of the assets involved in the operation.
Non-renewal of agreement for wood chip transportation with VCP
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Financial ResultsConsolidated Net Revenue – R$ million
287.6 299.3
3Q08 3Q09
751.8825.3
9M08 9M09
4.1%9.8%
Growth in the Automotive Sector boosted by vehicle sales in the
domestic market and increase in the average distance
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Financial ResultsConsolidated EBTIDAR –R$ million
40.3
44.3
14.0% 14.8%
3Q08 3Q09
100.2116.7
13.3% 14.1%
9M08 9M09
EBITDAR margin
Revenue growth and reduction in operating costs.
16.5%
9.9%
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Financial HighlightsAutomotive Sector
32.9
237.2
39.5
250.5
Net Revenue EBITDAR
3Q08 3Q09
Net Revenue of R$250.5 million (+5.6% vs. 3Q08).
• Increase in average distance by 12.8%;
• Number of vehicles transported in the domestic
market higher by 4.3%.
EBITDAR of R$101.9 million ( +23.1% vs. 9M08)
with 15.0% margin ( +1.6 p.p vs. 9M08).
Net Revenue of R$678.5 million (+9.9% vs. 9M08).
• Increase of 16.5% in average distance;
• Number of vehicles transported in the domestic
market higher by 2.5%.
EBITDAR of R$39.5 million (+20.0% vs. 3Q08)
with 15.8% margin ( +1.9 p.p vs. 3Q08).
5.6%
20.0%
82.8
617.6
101.9
678.5
Net Revenue EBITDAR
9M08 9M09
9.9% 23.1%
3Q09
9M09
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Financial HighlightsOther Sectors
Net Revenue of R$146.8 Million ( +9,4% vs. 9M08).
EBITDAR of R$ 14.8 million (-14.8% vs. 9M08)
with margin as a percentage of net revenue
being 10.1% ( -2.9 p.p. vs. 9M08).
Net Revenue of R$48.8 million in 3Q09 ( -3.3% vs. 3Q08).
• Transportation gross revenue 9.2% higher;
• Services gross revenue down by R$ 5.0 million.7.4
50.4
4.8
48.8
Net Revenue EBITDAR
3Q08 3Q09
-3.3%
17.4
134.2
14.8
146.8
Net Revenue EBITDAR
9M08 9M09
-35.0%
-14.8%9.4%
3Q09
EBITDAR of R$4.8 million in 3Q09 (-35.0% vs. 3Q08) with
9.9% margin ( -4.8 p.p vs. 3Q08).
9M09
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Financial ResultsConsolidated Net Income
20.1 20.3
3Q08 3Q09
47.055.0
9M08 9M09
Net income growth boosted by operating results.
11
17.1%0.8%
Financial ResultsCash Balance and Debt
Net Debt
61.3
72.9
65.6
44.9
56.3
4Q083Q08 1Q09 2Q09 3Q09
0.45x 1.59x 0.50x 0.33x 0.40x
x EBITDAR 12 months
Debt Profile
56%
44%
ST LT
Includes balance payable on CTV acquisition.
Cash balance of R$ 49.7 million on September 30, 2009
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IR Contacts
Alexandre Brandão
+55 (11) 4346-2532
Hugo Zierth
+55 (11) 4346-2532
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The forward-looking statements contained in this presentation are subject to risks anduncertainties. These are based on beliefs and assumptions of our Management and informationcurrently available to the Company. Such statements include information about our currentintentions, beliefs or expectations, as well as those of our Board of Directors and Board ofExecutive Officers.
The reservations concerning forward-looking statements also apply to information aboutpossible or presumed operating results, as well as declarations preceded by, including orfollowed by 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 tothe future, they depend on circumstances that may or may not occur and are therefore subjectto risks, uncertainties and assumptions. Future results and creation of shareholder value maydiffer substantially from those expressed or suggested by the forward-looking statements. Manyfactors that may influence these results are beyond TEGMA’s control or expectations.