Results Presentation 1Q18. April 26 th, 2018

Transcription

1 Results Presentation April 26 th, 2018

2 Operating Performance Traffic Traffic growth influenced by higher grain exports and recovery in light vehicles Traffic Volume (equivalent paying vehicles x million) Average Tariff (R$ / equivalent paying vehicle) Light Heavy EcoRodovias 2

3 Financial Performance Net Revenue Highway concessions segment registered revenue growth due to improved traffic and tariff adjustments Pro-Forma Net Revenue (R$ million)¹, ² Pro-Forma Net Revenue of Highway Concessions (R$ million)¹ % % 635 ¹ Does not considers construction revenue ² Considers IFRS 15 EcoRodovias 3

4 Financial Performance Cash Cost Cash cost reflecting the strategic focus in the pursuing improved operating efficiencies Cash Cost (R$ million)¹, ² Comparable Pro-Forma EBITDA² (R$ million and %) Cash cost increased 1.7% in, despite the inflation of 2.7% 70.7% 69.3% 72.5% +10.7% 69.5% 74.1% -1.7% Q17 3Q17 4Q17 2Q17 3Q17 4Q17 ¹ Excluding depreciation and amortization, construction costs and provision for maintenance ² Excluding construction revenue and costs and provision for maintenance EcoRodovias 4

5 DESTAQUES FINANCEIROS EMISSORA Financial Performance Highway Concessions Pro-forma EBITDA¹ Improving of traffic, tariff adjustment and cost discipline supported EBITDA growth at all Highway Concessions EBITDA¹ - Ecovias (R$ million and %) EBITDA¹ - Ecopistas (R$ million and %) 81.8% 81.8% 67.1% 70.5% EBITDA¹ - Ecovia Caminho do Mar (R$ million and %) EBITDA¹ - Ecocataratas (R$ million and %) 79.1% 80.7% 73.5% 74.5% ¹ Excludes construction revenue and costs and provisions for maintenance EcoRodovias 5

6 DESTAQUES FINANCEIROS EMISSORA Financial Performance Highway Concessions Pro-forma EBITDA¹ Improving of traffic, tariff adjustment and cost discipline supported EBITDA growth at all Highway Concessions EBITDA¹ - Ecosul (R$ million and %) EBITDA¹ - ECO101 (R$ million and %) 72.6% 72.5% 44.9% 52.5% EBITDA¹ - Ecoponte (R$ million and %) 64.0% 67.7% ¹ Excludes construction revenue and costs and provisions for maintenance EcoRodovias 6

7 Financial Performance Net Income Cash generation and reduction in financial expense contributed to the growth in comparable net income (+50%) Comparable Net Income¹ (R$ million) (5.2) (0.6) (11.7) 25.0 (6.3) Net Income Δ Pro-forma EBITDA Δ Depreciation Δ Provision for Maintenance Δ Financial Result Δ Income Tax/Social Contribution Δ Non Controlling Interest Net Income ¹ Excludes the results of assets held for sale (Elog). EcoRodovias 7

8 Financial Performance CAPEX Focus on Capex optimization underscores financial discipline and pursuit of efficiency Actual Pro-Forma CAPEX (R$ million) 2018 Estimated CAPEX (R$ million) Company Intangible Assets/PP&E Maintenance Costs Total 1, E Ecovias dos Imigrantes Ecopistas Ecovia Caminho do Mar Ecocataratas Ecosul (100%) ECO101 (100%) Ecoponte Ecoporto Santos 6-6 Others¹ TOTAL ¹ Includes Services and the Holding Company Actual CAPEX CAPEX Estimated EcoRodovias 8

9 Financial Performance Debt Gross Debt by type (R$ million and % - Mar/2018) Gross Debt by index (R$ million and % - Mar/2018) 483 7% 80 1% 447 7% 79 1% Cost of Debt (Mar/18): 7.35% p.a. 2,523 36% 6,404 92% Debentures BNDES Others Net Debt (R$ million) 3,918 56% IPCA CDI TJLP Dollar Debt Amortization Schedule: R$6,967 million - (R$ million) 2.69x 2.64x 2.45x 2.47x 2.45x 4,202 4,274 4,173 4,321 4,406 2, ,252 2, Q17 3Q17 4Q17 Net Debt Net Debt/Comparable Pró-forma EBITDA¹ UDM Cash Apr to Dec to 2032 ¹ Excludes Provision for Maintenance, Elog results and impairment at Ecoporto (non-recurring and non-cash) EcoRodovias 9

10 Disclaimer This presentation contains forward-looking statements related to the business outlook, estimates of operating and financial results and the growth prospects for EcoRodovias. These are merely projections and, as such, are based exclusively on the expectations of EcoRodovias management regarding the future of the business and its continuous access to capital for financing the Company s business plan. Such forward-looking statements depend substantially on changes in market conditions, government rules, pressure from competitors, the performance of both the industry and the Brazilian economy, among other factors, in addition to the risks mentioned in disclosure documents filed by EcoRodovias and, hence, are subject to change without prior notice. Investor Relations invest@ecorodovias.com.br Website Address Rua Gomes de Carvalho, rd floor São Paulo SP - Brasil Telephone EcoRodovias 10