Institutional Presentation

Transcription

1 Institutional Presentation

2 2 DISCLAIMER This presentation may contain certain forward-looking projections and trends that neither represent realized financial results nor historical information. These forward-looking projections and trends are subject to risk and uncertainty, and future results may differ materially from the projections. Many of these risks and uncertainties are related to factors that are beyond CCR s ability to control or to estimate, such as market conditions, currency swings, the behavior of other market participants, the actions of regulatory agencies, the ability of the company to continue to obtain financing, changes in the political and social context in which CCR operates or economic trends or conditions, including changes in the rate of inflation and changes in consumer confidence on a global, national or regional scale. Readers are advised not to fully trust these projections and trends. CCR is not obliged to publish any revision of these projections and trends that should reflect new events or circumstances after the realization of this presentation.

3 3 CCR BUSINESS Enable solutions for Infrastructure Investments and Services, contributing to the Socioeconomic and Environmental Development of the regions where we operate.

4 ATTRACTIVINESS IN THE INFRASTRUCTURE SECTOR 4

5 CCR HIGHLIGHTS 1 st Company listed in Novo Mercado (2002) Market Cap of R$ 25 Billion as of march of São Paulo cargo volume transported through CCR concessions 14 concessions in the South, Southeast, Middle West and Northeast regions of Brazil, 3 airport concessions in Lation America and 1 in Brazil Portfolio reaches 54,1 of Brazilian population and 63,8 of Brazilian GDP (2015) PUBLIC, CLEAR AND DEFINED STRATEGY 5

6 CCR MARKET SHARE BY SECTOR Toll Road Sector (2016)* 8 8 MANAGED KM CCR Others ,269 km TOLL REVENUES (EX-CONSTRUCTION REVENUES) R$ 6.1 billion Highways Urban Mobility EBITDA (2017) Highways Urban Mobility Airports Services TOTAL PAX Infraero 11 Airport Sector (2016)* 89 Private BH Airport Other Private Pedágio Aeroportos Mobilidade Serviços 6 94 REVENUES (EX-CONSTRUCTION REVENUES) Urban Mobility Sector (2015)* KM OF LINES Public Private CCR Other private TOTAL PAX 65 * Sources: ABCR, Infraero and RF Annual Report

7 7 CCR PORTFOLIO 2018 HIGHWAYS URBAN MOBILITY AIRPORTS SERVICES Company Share Company Share Company Share Company Share CCR NovaDutra 100 ViaQuatro 75 Quito 50 CCR Actua 100 CCR ViaLagos 100 CCR Barcas 80 San Jose 48 CCR Engelog 100 CCR RodoNorte 86 VLT Carioca 24,9 Curaçao 79 CCR EngelogTec 100 CCR AutoBAn 100 CCR Metrô Bahia 100 BH Airport 38 SAMM 100 CCR ViaOeste 100 TAS 70 CCR RodoAnel 99 QUIAMA 50 Renovias 40 CCR SPVias 100 ViaRio 66 CCR MSVia 100

8 PORTFOLIO IN BRAZIL AND ABROAD 5 San Francisco United States 5 Chicago Bradley Ohio 5 NewPort Los Angeles Houston Montgomery Atlanta 5 2 Bahia Salvador 5 4 Brasília COPORATE OFFICES 1 São Paulo 3 Rio de Janeiro 2 Brasília 4 United States HIGHWAYS 1 CCR ViaLagos 5 CCR ViaOeste 2 CCR NovaDutra 6 CCR RodoAnel 3 CCR RodoNorte 7 Renovias 4 CCR AutoBAn 8 CCR SPVias 9 ViaRio 10 CCR MSVia 4 3 Costa Rica 4 2 Ecuador Curaçao Brazil 10 8 Mato Grosso do Sul Campo Grande Paraná São Paulo Curitiba São Paulo Minas Gerias Belo Horizonte Rio de Janeiro URBAN MOBILITY 1 ViaQuatro 3 VLT Carioca 2 CCR Barcas 4 CCR Metrô Bahia AIRPORTS SERVICES 1 BH Airport 2 Curação Partners 3 Aeris 4 Quiport 5 TAS (Aeroportuary Services) 1 CCR Actura, CCR Engelog, CCR EngelogTec e Instituto CCR 2 Samm 8

9 9 OWNERSHIP STRUCTURE Floating Grupo Andrade Gutierrez Grupo Camargo Corrêa Shared Control First company listed on B3 s Novo Mercado (New Market) Controlling shareholders aligned and committed to the best practices of Corporate Governance. Grupo Soares Penido Foreign Investor Individual Investor (Brazil) 89 Legal Entities (Brazil)

10 HISTORIC EVOLUTION OF CCR CCR has a proven track record on acquisitions, diversification and new biddings. NASP EUA New concessions Main events Follow-on Acquisitions Concession extesions Sale Stake increase 10

11 ADDITIONAL EBITDA NEW BUSINESSES In R$ bi R$ 2.6 bi additional EBITDA ViaRio, VLT, Salvador, MSVia and BH TAS Airports and Barcas 5.1 STP ViaOeste ViaQuatro RodoAnel, Renovias and Controlar SPVias and SAMM Portifolio IPO * 2017* *EBITDA 2016 excludes the sale of the stake in STP and in 2017 excludes non-recurring effects of the acquisition of stakes in ViaQuatro and ViaRio 11

12 Consolidated Traffic 2010 Current (Equivalent Vehicles YoY) 12 TRAFFIC TRENDS Historical Elasticity: ~2.0 x GDP YTD WHY INVESTING IN CCR? Resilient business model

13 13 FINANCIAL HIGHLIGHTS IFRS Proforma Financial Indicators (R$ MM) 4Q16 4Q17 Chg 4Q16 4Q17 Chg Net Revenues 1 1, , , , Adjusted Net Revenues on the same basis 2 1, , , , Adjusted EBIT Adjusted EBIT Mg p.p p.p. EBIT on the same basis EBIT Mg. on the same basis p.p p.p. Adjusted EBITDA , , , Adjusted EBITDA Mg p.p p.p. Adjusted EBITDA on the same basis , , , Adjusted EBITDA Mg. on the same basis p.p p.p. Net Income Net Income on the same basis Net revenue excludes construction revenue. 2 Same-basis figures exclude: (i) the non-recurring effect of SPVias adherence to PERT in 4Q17, of R$ 97.8 million on the financial result and R$139.7 million on net income; (ii) ViaQuatro, which became a subsidiary in 2Q17; (iii) ViaRio, in same-basis profit and same-basis proforma comparisons. 3 Calculated by adding net revenue, construction revenue, cost of services and administrative expenses. 4 The adjusted EBIT and EBITDA margins were calculated by dividing EBIT and EBITDA by net revenue, excluding construction revenue, as required by IFRS. 5 Calculated excluding non-cash expenses: depreciation and amortization, provision for maintenance and the recognition of prepaid concession expenses. WHY INVESTING IN CCR? Strong Cash generation

14 DEBT IN DECEMBER 31, 2017 Gross debt by indexer Hedged gross debt by indexer Not hedged 4Q17 4Q16 USD 1.5 Hedged USD 3.5 4Q17 Others 3.5 USD 8.7 TJLP 18.2 TJLP 24.2 CDI 43.7 Hedged IPCA 5.5 TJLP 24.2 CDI 56.9 IPCA 23.4 CDI 74.8 IPCA 11.9 Indebtedness and leverage position Total Gross Debt: R$ 16.9 bi (R$18.0 Bn proforma) Net Debt / EBITDA: 2.3 x (2.3 x proforma)* * * LTM 4Q17 adjusted EBITDA includes non-recurring effects of the acquisition of stakes in ViaQuatro and ViaRio (R$548.1 million). Excluding these effects on EBITDA, the Net Debt/EBITDA ratio came to 2.6x (2.5x in proforma figures) in December

15 15 DEBT STRUCTURE AND AMORTIZATION IN DECEMBER 31, 2017 Amortization (R$ (R$ MM) MM) Amortization Schedule/ Not hedged (R$ MM) AutoBAn Metrô Bahia CCR S.A BH AIRPORT RodoAnel Oeste SPVias CCR Espanha S.L.U NovaDutra ViaQuatro ViaLagos 72 0 Samm 59 0 TAS 33 0 ViaOeste Others TOTAL 3,463 3,133 3, ,607 3, , ,220 3, ,402 1, , ,415 1, From 2022 CDI TJLP IPCA USD Others

16 STRONG OPERATIONAL AND FINANCIAL PERFORMANCE Gross Revenues (R$ Bn) Net Revenues (R$ Bn) EBITDA* (R$ Bn) and Margin () 80 CF* from Operations and Dividends (R$ mm) Dividends CF 1,932 2,138 2,504 1,749 2,778 3, , ,054 1,301 1,400 1,283 1,253 1,273 1,050 All figures include shared controlled assets * (i) EBITDA 2016 excludes the sale of the stake in STP and in 2017 excludes non-recurring effects of the acquisition of stakes in ViaQuatro and ViaRio; (ii) Cash Flow from operations = EBITDA - Capex 16

17 17 DIVIDENDS (CASH) , , ,586 1,547 1,266 1,345 1,301 1,400 1,250 1,286 1,054 1,080 1, Dividends (cash) Dividends from the concessionaires Payout Div. Yield WHY INVESTING IN CCR? Robust dividend payments

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