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4q12 results presentation

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4Q12 and 2012 Earnings Presentation
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Page 1: 4q12 results presentation

4Q12 and 2012 Earnings Presentation

Page 2: 4q12 results presentation

Forward-Looking Statements

2

This presentation contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of TPI – Triunfo Participações e Investimentos S.A. These are merely projections and, as such, are based exclusively on the expectations of the Company’s management concerning the future of the business. Such forward-looking statements depend substantially on changes in market conditions, the performance of the Brazilian economy, the sector and the international markets, and are, therefore, subject to changes without previous notice. The consolidated financial information is presented in proportion to the participation of

Triunfo in each subsidiary. The operational numbers correspond to 100% of the

business.

The information includes the performance of the subsidiaries Rio Verde and Rio Canoas.

Page 3: 4q12 results presentation

Highlights 4Q12 e 2012

3

• Traffic: 21.7 million vehicle equivalent units, (+6.4%) in 4Q12 . In the year, 82.0 million vehicle equivalent units (+6.6%) from 2011.

• Net operating revenue reaches R$229.4 million (+13.9%) in 4Q12 and R$834.9 million (+20.6%) in 2012.

• Container handling at Portonave: 161,400 TEUs in 4Q12 (+10.7%). In 2012, container handling totaled 620,000 TEUs, (+13.7%) from 2011.

• Assured energy sales in 2012 totaled 595,000 MWh, up 4.4% on 2011.

• Cabotage volume in the year reached 40,811 TEUs.

• Viracopos Airport handled 8.9 million passengers and 265,000 tons of cargo.

• The dividend calculation base was R$80 million in 2012. In 2012, the Company distributed R$48.8

million in dividends, with an annualized dividend yield of 2.7%.

• The Adjusted EBITDA totaled R$119.8 million (+2.4%). EBITDA margin in the period was 52.2%.

EBITDA in 2012 totaled R$419.5 million (+19.2%).

Page 4: 4q12 results presentation

201.4

229.4

4Q11 4Q12

692.1

835.0

2011 2012

Adjusted Net Revenue

20.6%

13.9%

Breakdown Net Revenue 4Q12 - (%)

Excluding construction revenue

Net Revenue - (R$ million)

Excluding construction revenue

4

56%

21%

11%

8%4%

Toll Roads Port Energy Cabotage Airport

Page 5: 4q12 results presentation

Toll Roads Segment

4Q12 and 2012 Results

Page 6: 4q12 results presentation

111.5

128.1

4Q11 4Q12

410.1

462.0

2011 2012

20.4

21.7

4Q11 4Q12

76.9

82.0

2011 2012

Toll Roads Segment – 4Q12

Traffic of Equivalent Vehicles - (million)

Corresponds to 100% of the business.

Net Revenue (1) – (R$ million)

Corresponds to the Triunfo Stake in the business.

6.6%

6.4%

12.6%

14.8%

6

(1) Excluding construction revenue.

Page 7: 4q12 results presentation

Port Segment

4Q12 and 2012 Results

Page 8: 4q12 results presentation

545.2

620.0

2011 2012

145.8

161.4

4Q11 4Q12

54.5

47.9

4Q11 4Q12

173.4

194.2

2011 2012

Port Segment – 4Q12

13.7%

10.7%

Container Handling - TEUs (‘000)

Corresponds to 100% of the business.

Net Revenue - (R$ million)

Corresponds to the Triunfo Stake in the

business.

12.0% -12.0%

8

Page 9: 4q12 results presentation

Energy Generation

4Q12 and 2012 Results

Page 10: 4q12 results presentation

570.6

595.6

2011 2012

149.6 149.6

4Q11 4Q12

91.4

103.7

2011 2012

24.425.1

4Q11 4Q12

Energy Generation – 4Q12

Assured Energy Sold - (‘000 Mwh)

Net Revenue - (R$ million)

4.4% 13.5%

2.7%

10

Page 11: 4q12 results presentation

Cabotage

4Q12 and 2012 Results

Page 12: 4q12 results presentation

Cabotage – 4Q12

Container Handling - TEUs (‘000)

Corresponds to 100% of the business.

Net Revenue - (R$ million)

Corresponds to the Triunfo Stake in the business.

12

5.8

11.2

4Q11 4Q12

8.8

40.8

2011 2012

10.9

19.0

4Q11 4Q12

17.2

65.8

2011 2012

Page 13: 4q12 results presentation

w

Título da Apresentação Aqui fica o subtítulo.

Airport Segment

4Q12 and 2012 Results

Page 14: 4q12 results presentation

Airport Segment – 4Q12

Passengers - (million)

Corresponds to 100% of the business.

Breakdown Gross Revenue

Corresponds to the Triunfo Stake

in the business.

17.0%

13.5%

14

2.0 2.2

7.6

8.8

4Q11 4Q12 2011 2012

24%

71%

5%

Passengers Revenue

Cargo Revenue

Commercial Revenue

Note: The Concessionaire Aeroportos Brasil started to consolidate costs and revenues on 14.11.2012

Page 15: 4q12 results presentation

Consolidated Performance

4Q12 and 2012 Results

Page 16: 4q12 results presentation

117.0 119.8

4Q11 4Q12

352.0

419.5

2011 2012

Adjusted EBITDA

EBITDA per Segment - (R$ million) Adjusted EBITDA - (R$ million)

19.2%

2.4%

16

94.3

23.0 14.6 2.2

-8.6 -5.7

119.8

Toll Roads Port Energy Airport Cabotage Parent Company EBITDA 4Q12

Adjusted EBITDA refers to earnings before interest, taxes, depreciation and amortization, adjusted for the Provision for Maintenance – IAS 37 (a non-cash item

included in Operating Costs), non-recurring expenses, minority interest and equity income from unconsolidated operations. To calculate EBITDA margin, we

used Adjusted Net Revenue (excluding construction revenue, which is an accounting effect with no cash impact) as the denominator.

Page 17: 4q12 results presentation

Financial Income

17

(R$ million ) 4Q12 4Q11 D 2012 2011 D

Financial Income (58.3) (39.5) 47.4% (180.8) (155.9) 16.0%

·       Financial Revenue 8.6 6.3 35.7% 26.6 16.3 62.6%

·       Financial Expenses (66.5) (43.4) 53.5% (197.4) (156.8) 25.9%

·       Exchange Rate Variation (0.3) (2.5) -86.3% (10.0) (15.4) -34.9%

Page 18: 4q12 results presentation

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Dividend Basis

* Result of unrecognized investment refers to adjustment of net consolidated profit for the parent company.

DIVIDEND BASIS (in R$ thousands) 4Q12 4Q11 D 2012 2011 D

Net Income/Loss 8,485 28,942 -70.7% 9,272 22,363 -58.5%

Unrecognized Investments 4 2 100.0% - -561 n/c

Realization of Revaluation Reserve 9,528 10,156 -6.2% 39,744 42,661 -6.8%

Realization of Asset Valuation Adjustment 7,763 6,255 24.1% 31,053 25,157 23.4%

Creation of Legal Reserve (5%) (425) (1,090) -61.0% (464) (1,090) -57.4%

Dividend Basis 25,355 44,265 -42.7% 79,605 88,530 -10.1%

Page 19: 4q12 results presentation

Net Debt

19

DEBT AMORTIZATION AND LEVERAGE

• The leverage levels of the highways and port segments remain low, at 1.01x and 1.40x, respectively. • The power generation segment’s debt profile, which is leveraged at 9.37x, reflects the characteristics of the business: long-term amortization, high initial

investment costs, and predictable and stable cash flow after operational start-up.

* 31.12.2012

(R$ thousands)ENERGY

ROAD

SEGMENT

PORT

COMPANYAIRPORT SUBTOTAL

PARENT

COMPANY

CABOTAGE

SEGMENTTOTAL

2013 22,110 130,375 27,949 7 180,441 44,507 17,734 242,6822014 48,458 50,338 25,014 10,994 134,804 4,509 55,699 195,0122015 57,393 72,487 33,176 - 163,056 73,788 27,794 264,6382016 39,389 89,611 30,806 - 159,806 275,510 22,915 458,2312017 43,589 14,974 21,326 - 79,889 271,115 22,915 373,919

Após 2018 469,890 88 0 - 469,978 47,926 6,692 524,596

Gross Debt 680,829 357,873 138,271 11,001 1,187,974 717,355 153,749 2,059,078

(R$ thousands)ENERGY

ROAD

SEGMENT

PORT

COMPANYAIRPORT SUBTOTAL

PARENT

COMPANY

CABOTAGE

SEGMENTTOTAL

Net Debt * 656,630 338,992 118,373 -46,551 1,067,444 649,412 152,362 1,869,218EBITDA LTM 70,105 335,927 84,746 n/c 490,778 n/c n/c 419,526

Net Debt/EBITDA LTM 9.37 1.01 1.40 n/c 2.18 n/c n/c 4.46

Page 20: 4q12 results presentation

Capex

20

4Q12: R$ 312.8 million 2012: R$ 766.9 million

5%

6%

5%7%

1%

0,5%

53%

20%

1%

Concer ConcepaEconorte PortonavePortonaus CabotagemRio Canoas Aeroportos Brasil ViracoposParent Company and other investments

6% 8%6%

6%

2%

0,3%

60%

0,1%

10%

3%

Concer ConcepaEconorte PortonavePortonaus CabotagemRio Canoas Rio VerdeAeroportos Brasil Viracopos Parent Company and other investments

Page 21: 4q12 results presentation

IR Team

Sandro Lima – DRI e CFO

Marcos Pereira Luana Mota Melina Rodrigues Contact: ri@ triunfo.com

+55 11 2169 3999

Rua Olimpíadas, 205 - Conjunto 142/143

Vila Olímpia - São Paulo - CEP 04551-000

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