ccr day 3 presentation

Download Ccr day 3 presentation

Post on 17-Jan-2015




4 download

Embed Size (px)




  • 1. Forward-Looking StatementThis presentation contains certain statements that are neither reported financialresults or other historical information. They are forward-looking statements. Because these forward-looking statements are subject to risks and uncertainties,actual future results may differ materially from those expressed in or implied by thestatements. Many of these risks and uncertainties relate to factors that are beyondCCRs ability to control or estimate precisely, such as future market conditions,currency fluctuations, the behavior of other market participants, the actions ofgovernmental regulators, the Company's ability to continue to obtain sufficientfinancing to meet its liquidity needs; and changes in the political, social and regulatoryframework in which the Company operates or in economic or technological trends orconditions, inflation and consumer confidence, on a global, regional or national basis. Readers are cautioned not to place undue reliance on these forward-lookingstatements, which speak only as of the date of this document. CCR does notundertake any obligation to publicly release any revisions to these forward lookingstatements to reflect events or circumstances after the date of this presentation.

2. Agenda09:00 a.m. Welcome Renato Vale 09:10 a.m. The Sector Today Mrcio Batista 09:45 a.m. Traffic Trends Arthur Piotto 10:25 a.m. Coffee Break 10:45 a.m. Evaluation of Current Portfolio Ricardo Froes 11:20 a.m. Perspectives for CCR Leonardo Vianna 12:00 p.m. Q&A Session 12:30 p.m. Lunch 3. The Sector TodayTolls: Problem or solution? Transportation infrastructure sector requires huge investments Restrictions on government budgets Greater efficiency of private sector Funding available from sector players and international investment funds Global Tendency 4. USA GDP Population Road network Fleet US$ billion millionthousands of km millionCalifornia 1,551 35.927329Texas884 22.5486 15. CA .VA .NC Florida 599 17.4 19414 . XNorth . FL336 8.5 164 6CarolinaVirginia 329 7.51156 Source: US Bureau of Economics Analysis, team analysis 5. Florida 6. Mexico Federal Concession Short-term estimated projectsExtension Investments Greenfield Projectkm US$ MM Libramiento de La Piedad and Access to Mxico 50 67 Guadalajara ExpresswayCompostela Puerto Vallarta104324Libramiento de Chihuahua 41 63 Total195454 7. Mexico Federal ConcessionMidterm - projects in preparation Extension InvestmentsGreenfield Projectkm US$ MM Entronque Prefifrico Guadalajara Entronque Ixtlahuacan del Ro30114Libramiento de Playa del Carmen20 45Libramiento de Ciudad Jurez 15 45Salamanca - Len 85182Libramiento de Puerto Vallarta 20 45Cuapiaxtla - Cuacnopalan 74132Libramiento Sur de Puebla45 91La Venta Colegio Mulitar 22364Colegio Militar - Chalco 40318Indios Verdes Santa Clara12136Puente Internacional Ro Bravo - Donna 0.218 Total363.21,490 8. Mexico Federal PPS Short-term estimated projectsExtension InvestmentsUpgrade Projectkm US$ MM UpgradeMaintenanceMitla Entronque Tehuantepec 163 364 117 Zacatecas - Saltillo213 109 386Total376 473 503 9. Mexico Federal PPS Mid-term estimated projects Extension Investments Upgrade Projectkm US$ MM UpgradeMaintenanceApizaco - Calpulalpan51 109 79Macuspana Campeche / Quintana 434 129 142 Roo state borderArriaga La Ventosa137 82106 Salina Cruz - Huatulco146 200 266 Acayucan La Ventosa 170 182 260 Total 938 448 853 10. Mexico asset monetization (FARAC)Short-term estimated projectsExtension InvestmentsGreenfield Projects Existing Expressway Sale km US$ MM Atizapn - Atlacomulco Chamapa - Lechera107455 Ampliacin Chamapa - Lechera Atlacomulco - Maravato Libramiento de Mazatln Culiacn - Mazatln Libramiento de Culiacn88300 San Jos Cabo San Lucas Corredor Turstico de Los Cabos Reynosa Matamoros Puente Int. Reynosa / Pharr Libramiento Sur de Reynosa Puente Los Tomates Allende Juarz Monterrey Nuevo Laredo Sabinas Colombia219487 Cadereyta Reynosa(8 works) 306 km / 2006 revenues of US$ 102millionTotal4141,242 11. Mexico asset monetization (FARAC 2)Brownfield: Culiacn - Mazatln TijuanaMexicaliConstruction: Libramiento de Mazatln / Libramiento de CuliacnNogalesCiudad Jurez Piedras NegrasHermosillo Chihuah ua Nuevo LaredoMatamoros TorrenSaltillo MonterreyCuliacn Brownfield: Chamapa Lechera / Atlacomulco - Maravato La Paz DurangoCiudadConstruction: Atizapn Atlacomulco / Ampliacin Chamapa - LecheraMazatln VictoriaZacatecas Luis Potos San Tampico Can AguascalientesProgreso cnTepicTuxpan Mrida Quertaro Guadalajara AtlacomulcoCampecheEcua Jalapa Colima Toluca D.F. Mxicondur Morelia VeracruzManzanillo Puebla Cuernavaca Villa Hermosa ChetumaleoLzaro Crdenas ChilpancingoOaxaca Acapulco Tuxtla Gutirrez Salina CruzHuatulco Brownfield: San Jos Cabo San LucasCiudad HidalgoConstruction: Corredor Turstico de Los Cabos 12. Mexico asset monetization (FARAC 3) TijuanaMexicaliNogalesCiudad Jurez Piedras Negras HermosilloChihuahua Nuevo LaredoMatamorosTorrenSaltillo Monterrey CuliacnLa Paz Durango CiudadMazatlnVictoriaZacatecas San Luis Tampico Can Aguascalientes PotosProgresocn Tepic Tuxpan MridaQuertaroGuadalajara AtlacomulcoCampecheEcuanJalapa TolucaColima Morelia Mxico D.F.Veracruz Manzanillo dureoPuebla Cuernavaca Villa Hermosa Chetumal Lzaro Crdenas ChilpancingoOaxacaAcapulco Tuxtla Gutirrez Salina CruzHuatulcoCiudad Hidalgo 13. Mexico asset monetizationMid-term other estimated projectsExtension InvestmentsGreenfield ProjectsExisting Expressway - Sale km US$ MM San Martn Texmelucan - Xoxtla - Tlaxcala 27 86Tlaxcala Libramiento de Tlaxcala Libramiento de Champotn Champotn Entronque Autopista Champotn Campeche 77132 Libramiento de Villahermosa Agua Dulce - Crdenas Ent. Reforma Ent. Lib. Villahermosa Ptzcuaro Uruapan Libramiento Poniente de Morelia Uruapan Nueva Italia Palmillas Apaseo204491 Nueva Italia Lzaro Crdenas Libramiento de Uruapan Libramiento Oriente de Ampliacin Ptzcuaro - UruapanQuertaro Libramiento Sur de Guadalajara136364 Guadalajara - Tepic Libramiento de Tepic 14. Mexico asset monetizationMid-term other estimated projectsExtension InvestmentsGreenfield Projects Existing Expressway - Salekm US$ MM Libramiento de Hermosillo Libramiento de Ciudad Obregn Estacin Don - Nogales 550364 Modernizacin Estacin Don - Nogales Cuautla - Alpuyeca Libramiento de Cuernavaca Cuernavaca - Acapulco Libramiento de Chilpancingo 158636 La Pera - Cuautla Libramiento de Acapulco Modernizacin la Pera - Cuautla Tuxpam Tampico y Libs. Crdoba - Veracruz 251582 Laguna Verde Gutirrez Zamora Gutirrez Zamora - Tihuatln 15. The Sector Today Main concession models Project withoutGreenfield Brownfielddemand risk Easier to estimate trafficGreater demand riskConstruction focusMore accelerated cash flowPayments to the concessionaireMore stable cash flowgrowthby the granting power Construction works risk Lower project execution risk 16. The Sector TodayLeading global players Market Value US$ billion* 21,987 21,437 12,5539,1188,8737,1546,785 6,293 5,179 4,882 4,686up1,023 570 ay ay ayo up de is laa Ssios R ris tr roswsw rt sw UroaC ra in berm trPL GB CGes eses BCos A fr hean Lprprprut In H le Ex Ex rb Ex A O ieal suarrV ngok ugsanqugk iacyan Tr ac ej anSa ZhJiM B * 11/16//2007 17. The Sector Today in Brazil Total paved highways: 196,094 km6% - 9,834 km granted to private enterprise Existing concessionaires: 37, before the federal auction Location: states of Rio Grande do Sul, Paran, Minas Gerais, SoPaulo, Rio de Janeiro, Esprito Santo, Bahia and Pernambuco. 18. The Sector Today in BrazilMeans of Transportation in BrazilPassenger Transport Cargo TransportAir 2% Subway 1% Pipeline 5%Air 0.3% Rail 1%Maritime 13.7%2000 Road 62% Road 96%Rail 19%Rail 1.4% Air 2.4 % Pipeline 3.7%Maritime 13.0% Rail 24.0% 2006Air 0.3%Source: Ministry of Transport 2006 Road 96.2% Road 59.0%Source: National Transport Confederation (CNT) 19. The Sector Today in BrazilLeading players in Brazil In kmRevenues1,452 Before1,147993 913 CCR 42%430 36758%235Others CCROHL Univias Ecorodovias CiviliaTriunfo Encalso3,226 After1,452993913 CCR430 367235 36% * Others64%OHLCCRUnivias Ecorodovias Civilia Triunfo Encalso* Estimated shares after federal highway auctionQualified portfolio 20. The Sector TodaySuccess factors Clearly defined strategy Differentiated access to capital market Service excellence Ability to foresee trends and develop business 21. Traffic Trends Historical Performance and Current Scenario 22. CCR System Traffic GrowthCharacteristics of the CCR highways AutoBAn: Cars: commuter traffic between 2 major cities (So Paulo and Campinas); weekend tourism traffic (areas of Valinhos, Vinhedo, Campinas, Cabreva, etc.). Commercial vehicles: general bulk cargo, agricultural crops from So Paulo and other states; channel for export outflow (Santos and So Sebastio); automobile makers (Honda, Toyota); distribution centers (VW, C. Bahia, L. Marabrs, M. Luiza, Natura, etc.). 3Q07 38.4% of total toll revenue. The great variety of products transported shields theconcessionaire, making it less vulnerable to sector crises 23. CCR System Traffic Growth AutoBAn - Characteristics of the highway Growth in the last 12 months = 6.9% Growth between Jan. and Oct. 2007 = 7.2% Growth from Oct. 2006 to Oct. 2007 = 11.2% Traffic Mix = 43.7% light vehicles / 56.3% commercial vehicles Annual Traffic EvolutionMonthly Traffic Variation AutoBAnAutoBAn11.2%20.2%8.2% 7.9%7.7% 7.3%7.0% 6.6%5.8%6.1% 5.9% 5.4% 10.9%4.5%4.7%9.0% 6.5%7.2%2.2% 2.6% 0.5% 2000 2001 20022003 2004 2005 2006 2007 Oct/06Dec/06Feb/07Apr/07Jun/07Aug/07 Oct/07 24. CCR System Traffic GrowthCharacteristics of CCR highways ViaOeste: Cars: commuter traffic between the regions of Sorocaba,Alphaville and So Paulo; weekend tourism traffic (regionsof Itu, Cotia, Ibina, Indaiatuba, Cabreva, AraoiabaSerra, etc.). Commercial vehicles: general bulk cargo, agriculturalproduce from So Paulo and ot