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MARCOPOLO DAYMARCOPOLO DAY
Carlos Zignani - IR Director
Thiago A. Deiro - IR Manager
June, 2010.
Bus Market OverviewBus Market Overview
Marcopolo as a leading player Marcopolo as a leading player
Corporate GovernanceCorporate Governance
Operating & Financial HighlightsOperating & Financial Highlights
AGENDA
Marcopolo CorporationMarcopolo Corporation
Product Line – Generation 7Product Line – Generation 7
25,645
35,410
32,027
27,952 26,983
21,787
18,099
21,680
32,000
25,280
21,381
21.9%
26.7% 27.3%29.8%
32.8%
35.4%
46.9%
34.1%
31.6%28.9%
17.7%
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 E
Brazilian Production External Market
+24.8%
3
BRAZILIAN BUS BODIES PRODUCTION (units)
45.5%
41.7%43.0%
44.7%
39.2%
42.8%
45.9%47.0%
49.8%
46.0%46.5%
0%
10%
20%
30%
40%
50%
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 1Q10
MP/Ciferal
Busscar
Caio/ Induscar
Comil
Neobus
Mascarello
Other (*)
SOURCE: SOURCE: FabusFabus//SimefreSimefre..
MARKET SHARE IN BRAZIL (%)
(*) Irizar, Maxibus.
4
BUS BODY WORLD PRODUCTIONBUS BODY WORLD PRODUCTION
TOTAL PRODUCTION
2009 = 311,000
2019 = 419,000
CAGR = 3.0%
NORTH AMERICA - NAFTA2009 = 12,000
2019 = 15,000
OTHER SOUTH AMERICA2009 = 6,000
2019 = 9,000
BRAZIL2009 = 30,000
2019 = 42,000
EGYPT2009 = 3,000
2019 = 6,000
SOUTH AFRICA2009 = 2,000
2019 = 3,000
AFRICA2009: 5,0002019: 9,000
AMERICAS2009: 48,000
2019: 66,000
CHINA2009 = 130,000
2019 = 150,000
INDIA2009 = 42,000
2019 = 80,000
JAPAN2009 = 9,000
2019 = 10,000
SOUTH KOREA2009 = 12,000
2019 = 15,000
OTHER ASIA2009 = 3,000
2019 = 5,000
ASIA & ASIAN SOUTHEAST
2009: 196,000
2019: 260,000
EUROPE2009: 35,000
2019: 40,000
MIDDLE EAST& TURKEY
2009: 11,000
2019: 14,000
EASTEUROPE
2009: 16,000
2019: 30,000
5SOURCE: OICA SOURCE: OICA andand internalinternal estimatesestimates for for thethe productionproduction of of busesbuses withwith more more thanthan 7ton, 7ton, exceptexcept for for IndiaIndia andand China.China.
Note: Note: SchoolSchool BusesBuses in in thethe USA USA andand CanadaCanada are are notnot consideredconsidered..
24,921
76,823
38,088
235,161
82,880
457,873
13.915.2
12.113.5
16.3
14.1
Midwest Northeast North Southeast South BRAZIL
Fleet per Region (units) Average Fleet Age (years)
Total Total FleetFleet & & AverageAverage AgeAge
BRAZILIAN BUS FLEET
SOURCE: SOURCE: FenabraveFenabrave andand DenatranDenatran..
• Events in Brazil
2010 – Federal and State level elections
2011 – Renewal of interstate and international lines concessions
2012 – Municipal Elections
2013 – FIFA Confederations Cup
2014 – FIFA World Cup / Federal and State level elections
2016 – Olympic and Paralympic Games / Municipal Elections
• Growth Drivers / Opportunities
– GDP Growth
– Investments in BRTs and public transit systems
– School Buses for rural areas
– Long term financing for buses
– Generation 7 success
– Global Presence
– Global Sourcing
– New Concession lines - fleet renovation
7
OUTLOOK
BRTs: Approx. R$ 10.0 MM / Km
Subway: Approx. R$ 200.0 MM / Km
• New Projects/Trends
– Intercity School Buses
– “Caminhos da Saúde” program
– CBU’s exports financed by BNDES
– Restrictions on the circulation of vehicles in central areas of big cities
• Targets/Goals
– #1 or #2 in every region in which we have factories
– Premium prices
– Lowest production cost
• Threats
– Strong exchange rate appreciation
– Regional airlines
– Trains/subways
– Cars / Motorcycles
8
PERSPECTIVES
NEW PROJECTS IN BRAZIL
Growth Acceleration Program for public transport:
� R$ 11.5 billions in investments
� 39 projects for public transport,including:
• 20 BRTs systems
Belo Horizonte
6 BRTs1 Surveillance project1 Pavement project
Total: R$ 1.023,3 MM
Porto Alegre
2 BRTs3 Bus lanes1 Surveillance project
Total: R$ 368.6 MM
Cuiabá
2 BRTs1 Bus lane
Total: R$ 454.7 MM
Curitiba
1 BRT1 Surveillance project2 Pavement projects3 Bus lanes1 Bus Terminal
Total: R$ 440.6 MM
São Paulo
1 Monorail
Total: R$ 1,082.0 MM
Natal
2 Pavement projects1 Bus lane
Total: R$ 361.0 MM
Brasília
1 Pavement project1 Light Rail system
Total: R$ 361.0 MM
Salvador
1 BRT
Total: R$ 541.8 MM
Recife
2 BRTs2 Bus lanes1 Bus Terminal
Total: R$ 648.0 MM
Manaus
1 BRT1 Monorail
Total: R$ 800.0 MM
Rio de Janeiro
1 BRT
Total: R$ 1,190.0 MM
Fortaleza
3 BRTs1 Light Rail system1 Bus lane1 Subway project
Total: R$ 414.4 MM
SOURCE: NTUSOURCE: NTU 9
AGENDA
Bus Market OverviewBus Market Overview
Marcopolo as a leading player Marcopolo as a leading player
Corporate GovernanceCorporate Governance
Operating & Financial HighlightsOperating & Financial Highlights
Marcopolo CorporationMarcopolo Corporation
Product Line – Generation 7Product Line – Generation 7
GLOBAL PRESENCE
11
STRATEGIC POSITIONING PRODUCTION UNITS
12* Includes 54 * Includes 54 unitsunits produced produced in Portugal in Portugal andand 8 8 unitsunits in in RussiaRussia..
SUEZ SUEZ -- EGYPTEGYPT
JOHANNESBURG JOHANNESBURG -- SOUTH AFRICASOUTH AFRICA
RIO DE JANEIRO RIO DE JANEIRO -- BRAZILBRAZIL
COTA COTA -- COLOMBIACOLOMBIA
MONTERREY MONTERREY -- MEXICOMEXICO
DHARWAD/LUCKNOWDHARWAD/LUCKNOWINDIAINDIA
CHANGZHOU CHANGZHOU -- CHINACHINA
LOMA HERMOSA LOMA HERMOSA -- ARGENTINAARGENTINA
CAXIAS DO SUL CAXIAS DO SUL -- BRAZILBRAZIL
(components)
2009 = 1.510
2010e = 1.500
2009 = 638
2010e = 600
2009 = 13.672
2010e = 14.9002009 = 470
2010e = 500
2009 = 207
2010e = 600
2009 = 308
2010e = 600
2009 = 2.517
2010e = 6.000
MARCOPOLO’S TOTAL PRODUCTION
2009 = 19,384*
2010e = 24,700
Variation = + 27.4%
Components Bus Production Post-sales Support
► Seats
► Foams
► Windows
► Doors
► Hydro-sanitary installation
► Handbag Compartment
► Plastic Components
► Air Conditioning System
► 11 units: 4 in Brazil and
7 abroad
► Presence in over 100
countries
► Up-to-date technology
► Low cost Structure
► Specialized efficient plants
► Qualified workforce
► Customization
► Quality widely recognized
► Sales representants
► Technical Assistance and
product guarantee
► Retail facilities
► Possibility of financing from
Moneo Bank
VERTICALIZATION & COMPETITIVE ADVANTAGES
13
AGENDA
Bus Market OverviewBus Market Overview
Marcopolo as a leading player Marcopolo as a leading player
Corporate GovernanceCorporate Governance
Operating & Financial HighlightsOperating & Financial Highlights
Marcopolo CorporationMarcopolo Corporation
Product Line – Generation 7Product Line – Generation 7
TOTAL PRODUCTION (units) & MARKET SHARE (%)
15
2005 2006 2007 2008 2009 2010 E 3Q09 4Q09 1Q09 1Q10
DM
EM
Marcopolo’s Total Production
24,700
21,811
+27.4%
14,82416,456
+55.9%
17,80719,384
4,964 5,3753,935
6,134
+8.3%
31.5%
37.1%
54.3%
70.9%
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 1Q10
Intercity
Urban
Micro
Mini
Marcopolo’s Market Share in Brazil (by model)
16
2005 2006 2007 2008 2009 2010 E 3Q09 4Q09 1Q09 1Q10
DM
EM
Total Net Sales
2,550.02,532.2
+23.9%
1,750.31,709.1
+46.6%
2,101.1 2,057.7
480.3617.5
463.4679.2
+28.6%
FINANCIAL HIGHLIGHTS (R$ Million)
163.7
99.8131.7
79.5
395.8
474.1
342.6329.7
257.2
24.1%21.5%21.3%16.6%19.2%18.7%16.3%18.8%15.1%
2005 2006 2007 2008 2009 3Q09 4Q09 1Q09 1Q10
-16.5%
Gross Profit & Margin
+65.7%
+64.0%
120.4
168.2 168.5
273.5
184.7
30.5
56.5 47.0
112.6
7.0% 9.6% 8.0% 10.8% 9.0% 6.4% 9.2% 10.1%
16.6%
2005 2006 2007 2008 2009 3Q09 4Q09 1Q09 1Q10
114.9
49.558.843.9
208.4214.2216.4206.3
150.9
16.9%10.7%9.5%9.1%10.1%8.5%10.3%11.8%8.8%
2005 2006 2007 2008 2009 3Q09 4Q09 1Q09 1Q10 17
-2.7%
EBITDA (adjusted) & Margin
+33.9%
+132.1%
EBITDA & Margin-32.5%
+85.2%
+139.6%
FINANCIAL HIGHLIGHTS (R$ Million)
69.1
21.5
63.2
20.5
136.5134.4146.5
120.8
82.4
10.2%4.6%10.2%4.3%6.6%5.3%7.0%6.9%4.8%
2005 2006 2007 2008 2009 3Q09 4Q09 1Q09 1Q10
464.1
536.0590.4
683.5724.0 723.2 724.0 691.8
797.2
19.3%
26.0% 24.8%
19.7% 18.9% 18.2% 18.9% 18.4%23.1%
2005 2006 2007 2008 2009 3Q09 4Q09 1Q09 1Q10
Net Income & Margin
18
+5.9%
Net Worth & ROE
+0.1%+15.2%
+1.6%
+208.3%+221.4%
FINANCIAL HIGHLIGHTS (R$ Million)
19
Net Indebtedness
2005 2006 2007 2008 2009 2010 E 3Q09 4Q09 1Q09 1Q10
Investments
60.0
132.2-42.3%
40.4
24.8
-37.0%
110.6104.0
19.6 19.8
38.1
24.0
+1.0%
Net Debt (Industrial
Segment)/LTM EBITDA
-4.8%
2005 2006 2007 2008 2009 1Q10
745.7
86.6115.4
323.9
709.6727.8
0.9x1.1x1.7x0.6x
���� = Financial Segment ���� = Industrial Segment
0.8x 0.4x
FINANCIAL HIGHLIGHTS (R$ Million)
AGENDA
Bus Market OverviewBus Market Overview
Marcopolo as a leading player Marcopolo as a leading player
Corporate GovernanceCorporate Governance
Operating & Financial HighlightsOperating & Financial Highlights
Marcopolo CorporationMarcopolo Corporation
Product Line – Generation 7Product Line – Generation 7
ShareholdersShareholders
FISCAL COUNCILFISCAL COUNCILHEIRS’ COUNCILHEIRS’ COUNCIL
CEOCEO
IR DIRECTORIR DIRECTOR
BOARD OF DIRECTORSBOARD OF DIRECTORS
INTERNAL AUDITINTERNAL AUDITEXTERNAL AUDITEXTERNAL AUDIT
COMITEECOMITEE AUDIT AND RISKAUDIT AND RISK
HR AND ETHICSHR AND ETHICS
STRATEGY AND INNOVATIONSTRATEGY AND INNOVATION
EXECUTIVEEXECUTIVE
ORGANIZATION CHART
21
Service Providers Business Units
Manufacturingand
EngineeringDirector
Manufacturingand
EngineeringDirector
AdministrativeDirector
AdministrativeDirector
System and Process Director
System and Process Director
DEVELOPING AND STRATEGY DIVISIONDEVELOPING AND
STRATEGY DIVISION
MARKETING AND STRATEGY
DIVISION
MARKETING AND STRATEGY
DIVISION
BUSINESS DEVELOPMENT AND
SYNCROPARTS DIVISION
BUSINESS DEVELOPMENT AND
SYNCROPARTS DIVISION
Financial Services
Financial Services
Bus BusinessLatin America and Europe
Bus BusinessLatin America and Europe
Bus Business Africa and
Middle East
Bus Business Africa and
Middle EastLCV LCV
Financial Services Director
Financial Services Director
CEOCEO
ORGANIZATION CHART
22
� Independent Board Members (3 out of 7)
� Fiscal Council
� Support Committees: Human Resouces & Ethics; Audit & Risks; Strategy & Innovation; andExecutive
� 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 BMF&Bovespa IGC, SMLL, INDX and ITAG indexes
� Heirs’ Succession Plan
Marcopolo adopts corporate governance best practices, following the principles of transparency,
accountability, social responsibility and equitable treatment of shareholders.Marcopolo adopts corporate governance best practices, following the principles of transparency,
accountability, social responsibility and equitable treatment of shareholders.
CORPORATE GOVERNANCE
23
0.7%4.6%
5.2%7.7%
33.1%
48.7%
Foreign Shareholders
Other Shareholders in Brazil
Jose Antonio Fernandes Martins
Fundo Petrobras Seg. Soc. Petros
BNDES Part. S.A. - BNDESPAR
Controling Shareholders
24
Preferred Shares Common Shares
As As ofof MayMay, 31, 2010., 31, 2010.
SHAREHOLDING DISTRIBUTION
2.0%3.7%6.1%
8.5%
15.2%64.5%
Controling Shareholders
Fundação Bco. Central - CENTRUS
Other Shareholders in Brazil
Bco. Bradesco S.A. / Bradesco Seguros S.A.
Marcopolo Foundation
BNDES Part. S.A. - BNDESPAR
Marcopolo PN x Ibovespa - Base 100
05/31/09 08/31/09 11/30/09 02/28/10 05/31/10
POMO4: +94.9%
IBOV: +18.5%
R$ 4.34
53.197 pts
R$ 8.46
63.046 pts
25
STOCK PERFORMANCE
Marcopolo PN - POMO4
-
1.0
2.0
3.0
4.0
5.0
6.0
Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10
Average daily volume (R$ million)
-
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
Market Cap (R$ million)
Average Daily Volume Market Cap
26
SHARE LIQUIDITY & VALUATION
52.638.8
51.241.852.9
0
50
100
150
2005 2006 2007 2008 2009
Net Profit Pay Out (in %) Dividends(Company)
AVERAGE PAY OUT: AVERAGE PAY OUT: 47.2%47.2%
NET PROFIT (R$ Million) & PAY OUT RATIO
27
AGENDA
Bus Market OverviewBus Market Overview
Marcopolo as a leading player Marcopolo as a leading player
Corporate GovernanceCorporate Governance
Operating & Financial HighlightsOperating & Financial Highlights
Marcopolo CorporationMarcopolo Corporation
Product Line – Generation 7Product Line – Generation 7
GB Polo – Suez - EgitoMASA – Johannesburg - África do SulPolomex – Monterrey - MéxicoSuperpolo – Cota - Colômbia
Ana Rech – Caxias do Sul-RS - Brasil Planalto – Caxias do Sul-RS - Brasil Neobus – Caxias do Sul-RS - Brasil Ciferal – Duque de Caxias - RJ - Brasil
Metalpar – Loma Hermosa - Argentina Tata Marcopolo Motors LMTD – Dharward - Índia Tata Marcopolo Motors LMTD – Lucknow - Índia
29
BUS BUSINESS UNITS
AGENDA
Bus Market OverviewBus Market Overview
Marcopolo as a leading player Marcopolo as a leading player
Corporate GovernanceCorporate Governance
Operating & Financial HighlightsOperating & Financial Highlights
Marcopolo CorporationMarcopolo Corporation
Product Line – Generation 7Product Line – Generation 7
G7 - PARADISO
31
G7 - VIAGGIO
32
Carlos Zignani
Investor Relations Director
carlos.zignani@marcopolo.com.br
Phone: +55 54 2101.4115
Thiago A. Deiro
Investor Relations Manager
thiago.deiro@marcopolo.com.br
Phone: +55 54 2101.4660
www.marcopolo.com.br/ri_eng
ri@marcopolo.com.br
www.marcopolo.com.br/ri_eng
ri@marcopolo.com.br
INVESTOR RELATIONS CONTACT
33
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.
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