CORPORATE PRESENTATION. Caxias do Sul August, 2013.

Transcription

1 CORPORATE PRESENTATION Caxias do Sul August, 2013.

2 DISCLAIMER This presentation contains future information. Such information is not simply historical facts, but reflects the desires and the expectations of the Company s leadership. The words anticipates, desires, hopes, forecasts, intends, plans, predicts, projects, wishes and similar ones, intend to identify affirmations that necessarily involve known and unknown risks. Known risks include uncertainties that are not limited to the impact of the competitiveness of the prices and services, market acceptance of services, the Company s service transitions and its competitors, the approval of regulations, currency, fluctuation in the exchange rate, changes in the mix of services offered, and other risks described in the reports of the Company. This presentantion is updated until the present date. However, Marcopolo is not obligated to update it with new information and/or future events.

3 OUTLINE Marcopolo Volare Business Bus Market Overview Operating & Financial Highlights Corporate Governance & Sustainability Marcopolo Corporation & Product Line

4 MARCOPOLO S PROFILE Founded in 1949, Marcopolo has more than 64 years in the business OVERVIEW Four factories in Brazil and eleven abroad Over 22,000 employees in Brazil and abroad HIGHLIGHTS 24.1% Return On Equity in 2Q % Return on Invested Capital in 2Q13 Economic Value Added oriented Company State-of-the-art technology PRODUCTS Integrated production of nearly all parts used in manufacturing process Complete product line: coaches, transit buses, midi, micro & minibuses 4

5 UNDERSTANDING OUR PRODUCT BUS BODY CHASSI (chassi manufacturers) VOLARE - COMPLETE VEHICLES 5

6 COMPETITIVE ADVANTANGES Image & Relationship - Reliable Brand - Financial and economic soundness - Sustainability & community - Respect and commitment to people - Global presence Hardiness & Durability (Under R66) Mechanical resistance of the structure and components Longer Useful Life Structural and components durability Active & Passive Safety - Emergency exit, standards of rollover, TILT TEST, frontal impact Customer Intimacy - Transparency - Reliability - Flexibility Lower Operating Cost/Lifetime Cost - Lower fuel consumption - Low frequency, cost and time of maintenance Processes & Services - Customization - Insourcing - Resale value - Own commercial network and outsourced (Volare) - Own and outsourced technical assistence - Spare parts 6

7 STRATEGIC POSITIONING MARCOPOLO S TOTAL PRODUCTION (new pattern) 2012 = 19, g = 21,600 USA CANADA RUSSIA (Commercial JV) MARCOPOLO S TOTAL PRODUCTION (previous pattern) 2012 = 31, g = 35,200 CHINA (components) MEXICO 2012 = 1, g = 1,800 COLOMBIA 2012 = 1, * = 1,600 EGYPT 2012 = * = 1,000 INDIA 2012 = 15, * = 19,000 ARGENTINA 2012 = 1, * = 1,600 BRAZIL 2012 = 17, g = 19,000 SOUTH AFRICA 2012 = g = 300 AUSTRALIA 2012 = g = 500 g = year-end 2013 expectation according to the guidance published on May 6th, Production in Brazil does not includes the 45% stake in Neobus * = in accordance with the new accounting standard ( IFRS 10 & 11), these companies are no longer consolidated in Marcopolo s output. All figures are showing 100% of each business. 7

8 OUTLINE Marcopolo Volare Business Bus Market Overview Operating & Financial Highlights Corporate Governance & Sustainability Marcopolo Corporation & Product Line

9 ABOUT VOLARE Volare Production started in 1998 Production Capacity: 7,500 units/year 2Q13 Production: 1,359 units 2Q13 Net Revenue: R$ million New facility in São Mateus, Espírito Santo/Brazil with initial annual capacity of 3,000 units/year is expected to go online in the first half of

10 VOLARE S PRODUCTION (Units) 5,070 4, % 4,665 3,623 3,896 3,048 2,988 2,879 2,855 3,159 2, H13 10

11 OUTLINE Marcopolo Volare Business Bus Market Overview Operating & Financial Highlights Corporate Governance & Sustainability Marcopolo Corporation & Product Line

12 BRAZILIAN BUS BODY PRODUCTION (Units) -8,1% 35,410 35,989 32,027 33,395 33,080 25,280 26,983 27,952 25,645 21, % 32.8% 35.4% 34.1% 31.6% 28.9% 16, % 15.3% 11.7% 13.5% 10.8% H13 Brazilian Production Exports SOURCE: Fabus does not include Volare s production. 12

13 BRAZILIAN BUS FLEET Total Fleet & Average Age Total Fleet (thousand units) Average Fleet Age (years) SOURCE: Fenabrave 13

14 MARKET SHARE IN BRAZIL (%) 50% 44.7% 43.0% 41.7% 46.3% 45.7% 45.2% 44.9% 40% 41.5% 39.2% 36.7% 41.0% 40.9% 39.5% (*) 40.3% 30% 20% 10% (**) (**) Irizar, Metalbus. 0% H13 SOURCE: Fabus/Simefre. (*) According to the new accounting standard IFRS 10 & 11 Marcopolo s stake in Neobus is no longer considered. 14

15 OUTLOOK Events in Brazil 2014 FIFA World Cup / Federal and State level elections 2016 Olympic and Paralympic Games / Municipal Elections Growth Drivers / Opportunities GDP Growth; Demand from BRTs; Lots of school buses from the "Road to School" program; Extension of FINAME PSI 4: interest rate at 3.0% p.a. for requests registered from January to June and 4% p.a. from July to December; Global Sourcing; School Bus program for urban areas; Government incentive plans: Reintegra (until 2013) and pay roll tax cuts (until 2014); Favorable exchange rates to exports. 15

16 OUTLOOK Targets/Goals #1 or #2 in every country in which we have factories Premium prices Lowest production cost Threats Strong exchange rate appreciation Regional airlines Trains/subways Cars/motorcycles 16

17 OUTLINE Marcopolo Volare Business Bus Market Overview Operating & Financial Highlights Corporate Governance & Sustainability Marcopolo Corporation & Product Line

18 MARCOPOLO S TOTAL PRODUCTION (Units) Previous accounting standard 21,811 38% 19,384 37% 27,580 39% 12.5% 31,526 31,296 40% 46% 35,200 40% Consolidated Production 2Q13 62% 63% 61% 60% 54% 60% E +8.8% New accounting standard IFRS 10 & 11 19,853 24% 21,600 12% +10.3% 76% 21,811 88% 19, % 5,438 4,464 27,580 19% 28% 72% 81% 10,046 9,106 17% 22% 31,526 31,296 78% 83% E 2Q12 2Q13 1H12 1H13 *E = expected Domestic Market External Market 18

19 MARCOPOLO S TOTAL NET SALES (R$ Million) Previous accounting standard 2, % 2, % 2, % 3, % +12.7% 3, % 4,300.0 Consolidated Net Sales 2Q13 61% 68% 70% 73% 64% E +12.8% 3, % New accounting standard IFRS 10 & 11 3, % 1, , % 30% 68% 21,811 19, % ,580 27% 37% 63% 73% 31,526 70% 31,296 75% E 2Q12 2Q13 1H12 1H13 *E = expected Domestic Market External Market 19

20 FINANCIAL HIGHLIGHTS (R$ Million) (*) +8.6% Gross Profit and Margin +6.3% +21.8% % 20.6% 18.7% 18.3% 20.0% 18.8% Q12 2Q13 1H12 1H13-4.6% EBITDA and Margin % % % 12.2% 10.7% 11.6% 12.2% 11.1% Q12 2Q13 1H12 1H13 20 (*) All figures in accordance with the new accounting standard IFRS 10 & 11.

21 FINANCIAL HIGHLIGHTS (R$ Million) (*) Net Profit and Margin -12.1% % % % 9.0 % % 7.5 % 8.9 % 7.4 % Q12 2Q13 1H12 1H13 Net Equity & ROE 1, % +8.8% 1, , , % 26.0% 33.1% 24.1% H12 1H13 21 (*) All figures in accordance with the new accounting standard IFRS 10 & 11.

22 FINANCIAL HIGHLIGHTS (R$ Million) (*) +26.3% Investments % E 1H12 1H13 Net Indebtedness +38.6% *E = expected = Financial Segment = Industrial Segment - 0.4x 0.9x Net Debt (Industrial Segment)/LMT EBITDA H13 22 (*) All figures in accordance with the new accounting standard IFRS 10 & 11.

23 OUTLINE Marcopolo Volare Business Bus Market Overview Operating & Financial Highlights Corporate Governance & Sustainability Marcopolo Corporation & Product Line

24 ORGANIZATION CHART SHAREHOLDERS FISCAL COUNCIL BOARD OF DIRECTORS COMMITTEE OF: EXECUTIVE COMMITTEE INTERNAL AUDIT HR AND ETHICS STRATEGY AND INNOVATION AUDIT ANS RISK EXTERNAL AUDIT IR DIRECTOR CEO 24

25 CORPORATE GOVERNANCE Marcopolo adopts corporate governance best practices, following the principles of transparency, accountability, social responsibility and equitable treatment of shareholders. Independent Board Members (4 out of 7) Fiscal Council Support Committees: Human Resouces & Ethics; Audit & Risks; Strategy & Innovation; and Executive Independent External Audit Tag Along (100% Common and 80% Preferred shares) BM&FBovespa Corporate Governance Level 2 since 2002 Financial Statements in IFRS Code of Conduct Disclosure and Negotiation Policy Participation in the BM&FBovespa IBrX, IGC, SMLL, INDX, IGCT, IBRA, ITAG indexes and MSCI Heirs Succession Plan 25

26 SHAREHOLDING DISTRIBUTION Common Shares 13.0% O ther Shareholders 2.1% Brades co Seguros S.A. 3.8% M arc opolo Foundation 15.2% Fund. Bc o. C entral - C E NTRUS 65.9% C ontrolling Shareholders As of July 31 st,

27 SHAREHOLDING DISTRIBUTION Preferred Shares 16.7% Fundo P etrobras Seg. Soc. - P etros 5.6% Jos e A ntonio F. M artins 1.2% M arc opolo Foundation 0.9% C ontroling Shareholders 19.6% O ther Shareholders in Brazil 56.0% Foreign Shareholders As of July 31 st,

28 CORPORATE STRUCTURE 896,900,084 Total Shares 555,274,340 PN Shares 341,625,744 ON Shares Free Float: 74.2% (outstanding shares) Market cap on July 31 st, 2013 R$ 5.8 billion 28

29 STOCK PERFORMANCE Marcopolo PN x Ibovespa - Base 100 POMO4: +28.2% IBOV: -14.0% R$ R$ ,097 pts 48,234 pts 7/31/ /31/2012 1/31/2013 4/30/2013 7/31/

30 Average Daily Volume (R$ Million) Market Cap (R$ Million) SHARE LIQUIDITY & VALUATION Marcopolo PN - POMO4 30, , ,0 15,0 10, , Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 0 Average Daily Volume (R$ MM) Market Cap (R$ MM) 30

31 SHAREHOLDER REMUNERATION (R$ Million) AVERAGE PAY OUT: 47% % 53% 51% 48% 47% 42% 39% * 2011* 2012* Net Profit (Company) Dividends Pay Out (in%) * Net Profit according to IFRS standards. 31

32 CO 2 EMISSION COMPARISON Source: ABRATI e ANAC.

33 WHICH WAY IS SUSTAINABLE? 33

34 OUTLINE Marcopolo Volare Business Bus Market Overview Operating & Financial Highlights Corporate Governance & Sustainability Marcopolo Corporation & Product Line

35 BUS BUSINESS UNITS Ana Rech Caxias do Sul-RS Superpolo Cota Marcopolo Auto Components C.O.LTD. Volgren Brisbane - Australia Planalto Caxias do Sul-RS Polomex Monterrey Volgren Perth - Australia GB Polo Suez - Egypt Neobus Caxias do Sul-RS Metalsur Santa Fe Tata Marcopolo Motors LMTD Dharward - India MASA Johannesburg South Africa Ciferal Duque de Caxias - RJ Metalpar Loma Hermosa Tata Marcopolo Motors LMTD Lucknow - India

36 PRODUCT LINE 36

37 INVESTOR RELATIONS CONTACTS Carlos Zignani Investor Relations Director Tel: + 55 (54) Thiago A. Deiro Investor Relations Manager thiago.deiro@marcopolo.com.br Tel: + 55 (54) Rafael L. Ritter Investor Relations Analyst rafael.ritter@marcopolo.com.br Tel: +55 (54) Varleida C. P. Perin Investor Relations Analyst varleida.perin@marcopolo.com.br Tel: +55 (54) ri@marcopolo.com.br