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1Q08 ResultsM 15 2008May 15, 2008
Forward Looking Statement
This 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 they y p p ystatements. Many of these risks and uncertainties relate to factors that are beyondCCR’s ability to control or estimate precisely, such as future market conditions,currency fluctuations the behavior of other market participants the actions ofcurrency 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 orframework 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 looking
2
statements to reflect events or circumstances after the date of this presentation.
Agenda
Highlightsg g
Results
Outlook
Social and Cultural Responsibility Policy
3
Highlights
Operating
• Traffic grew by 7.5% in the 1Q08.
• Net revenue reached R$ 620.4 million (+13.6%) in the first quarter of 2008.
• Net Income totaled R$ 167.2 million in the 1Q08, up on the same period lastyear.
• 25.5% increase in AVI users in the year, compared to Mar/07, totaling968,000.
4
Highlights
Corporate
• Dividend payout of 91.2%, representing a total payment of R$ 532.1 millionfor the fiscal year of 2007
• On April 11, 2008, CCR additional dividend distribution for the fiscal year2007 in the amount of R$ 0 50 per share totaling R$ 201 6 million In addition2007 in the amount of R$ 0.50 per share, totaling R$ 201.6 million. In additionto the R$ 330.5 million paid in August 2007.
• Advertisement Campaign
5
Highlights
• On March 11, 2008, the Company informed its shareholders and the marketthat Consórcio Integração Oeste, in which CCR holds a 95% stake, obtainedg ç , ,the best classification among the proposals with lowest toll tariffs submitted inthe bid for the Concession of the Mário Covas Ring Road – West Segment.
• On May 7, 2008, Consórcio Integração Oeste, was declared the winner of theinternational public bid 0001/2008, for the exploration, through a concession,
f th Má i C Ri R d W t S tof the Mário Covas Ring Road – West Segment.
• On May 8 2008 Consórcio Integração Oeste was summoned to sign theOn May 8, 2008, Consórcio Integração Oeste was summoned to sign theconcession agreement within 30 (thirty) days.
• Renovias.
6
Results
The results reflect a combination of factors...
R$ MillionR$ Million Financial Highlights 1Q07 1Q08 Chg%
545.9 620.4 13.6%
Total Costs (1) (285.4) (306.6) 7.5%
Net Revenue
EBIT 260.5 313.8 20.4%
EBIT Margin 47.7% 50.6% +2.9 p.p.
D i ti d A ti ti (2) 80 3 87 4 8 8%Depreciation and Amortization (2) 80.3 87.4 8.8%
EBITDA 340.9 401.2 17.7%
EBITDA Margin 62.4% 64.7% +2.3 p.p.
Net Financial Result (43.2) (53.4) 23.7%
Income and Social Contribution Taxes (66.0) (90.8) 37.5%
Net Income 146.8 167.2 13.9%
(1) Total Costs + Administrative Expenses(2) Includes prepaid expenses
Net Income 146.8 167.2 13.9%
7...higher traffic and reduction of operating costs.
Net Financial Resultidido
Net Financial Result (R$ MM) 1Q07 1Q08 Chg %
Net Financial Result (43.2) (53.4) 23,6%
Financial Expenses: (66.8) (96.2) 44.0%
Monetary Variation 1.6 (12.8) n.a.
Results from Hedging Transactions (2.3) (8.7) n.a.
Exchange Rate Variation (5.0) (19.4) n.a.
Interest on Short-term and Long-term Debt (49.9) (48.2) -3.4%
Other Financial Expenses (11.2) (7.1) -37.0%
Financial Income 23.6 42.8 81.3%
Results from Hedging Transactions 0.0 13.7 n.a.
Other Financial Income 23.6 29.1 23.1%Other Financial Income 23.6 29.1 23.1%
8
Business Dynamics
EBITDA x EBITDA Margin(R$ million)
310 309 299322 323
341 326
411377
401
174
216 218 224259
3 0 309 299263
67%151
52%55% 55% 54% 55%
60%56% 58%
51%
59% 57% 59%
67%
59%65%
62%
44%
1Q04 2Q04 3Q04 4Q04 1Q05 2Q05 3Q05 4Q05 1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08
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Revenues
Toll Payment Method
37.4% 44.3% 47.4% 50.6%ElectronicCash
62.6% 55.7% 52.6% 49.4%
1Q05 1Q06 1Q07 1Q08
Cash
1Q05 1Q06 1Q07 1Q08
STP 1 7% Other 2 4%
Revenues Breakdown – 1Q08Concession Breakdown
P tViaLagos
Other STP 1.7% Other 2.4%
AutoBAn37%
Rodonorte 12%
Ponte
4%2%
Other
2%
Toll96,2%95.9%
26%
ViaOeste 17%
10
NovaDutra
Traffic (Vehicle Equivalents - million)
Quarterly Evolution
107125 131
140
1Q05 1Q06 1Q07 1Q08
1Q07 x 1Q08 – Concession Breakdown
8.4%7.6%
6.9%8.0%
3.7%3.1%
11AutoBAn NovaDutra Rodonorte Ponte Via Lagos ViaOeste
Net Revenue & Total Costs
We are still delivering...
620.4
411 6
514.5
545.9
)
Other
Net Revenue
27%14%
27%16%
251.9
301.2285.3
411.6306.6
12%
12%
16%14%
17%
12%
R$
(milh
ões)
Third-Party
Concession Fee
Payroll
28% 123%
22% 22%21%
10% 27%
23%
61%
59%
52%
%27%
22%22%
10%%
28%
15%14%
30%
15%
28%
D&A
Third Party
24% 25% 26%
1Q05 1Q06 1Q07
51Q08
49%
27%24%
28%
27% 28%
Other: insurance, rent, marketing, travel, electronic payment and routine maintenance
Third-Party Services: auditing, consulting and shared services.
12... operating efficiency .
Indebtdness
Balance sheet is ready for...
Gross Debt Net Debt
1,9731,973
1,332
1,396
1,703
on)100%
97%1,133
1,116 1,091on)
R$
(mill
io
69%
87% 983
,
0.790.72
0.95
1.40
R$
(mill
i
1Q05 1Q06 1Q07 1Q08
Short Term Long Term In R$ Net Debt Net Debt / EBITDA
1Q05 1Q06 1Q07 1Q08
Short Term Long Term In R$ Net Debt Net Debt / EBITDA
13...the currrent oppotunities scenario
Indebtdness
We are still pursuing a more...
Distribution Long Term Debt Amortization
Other 104.5% - 107.3% CDI
BNDESTJLP + (4.5% - 5.5%)
6%
Foreign Currency
10%3%6%
508
435
41%
39%
10%
44%37%
262 253
180132
Debentures IGP M + 7 6% 11%
Debentures103.3% - 105% CDI
41%44%
2008 2009 2010 2011 2012 2013 2014 2015
132 109 91
IGP-M + 7.6% -11%
14...efficient capital structure
Capital Expenditures
Schedule 2008 - 2009
CAPEX (R$ MM) 1Q07 1Q08 2008(E) 2009 (E)
AutoBAn 27.9 34.3 199.1 149.8
N D t 19 6 29 4 88 9 56 0NovaDutra 19.6 29.4 88.9 56.0
ViaOeste 43.4 13.6 103.2 4.2
RodoNorte1 8.9 8.2 90.7 74.8
Ponte 2.2 3.0 4.4 3.5
Via Lagos 1.2 0.1 0.3 0.5
ViaQuatro2 0.3 12.9 185.6 252.7
Other3 1.7 1.6 10.9 8.7
Consolidated 105.2 103.1 683.0 550.2
1 and 2 - Estimated figures for 2008 and 2009 correspond to 100%1 and 2 Estimated figures for 2008 and 2009 correspond to 100%.
3 - Includes CCR, CCR México,CCR USA, Actua, Engelog, Parques and STP.
15
New Businessess
• State of São Paulo Concessions
• Federal Concessions
• Secondary Market
• PPP’s
• LogisticsLogistics
• Mexico and Estados Unidos
16Brazil is still the main growth driver.
Social and Cultural Responsibility Policy
Tela Brasil Cinema Approximately 330,000 peopleRoda Brasil Circus Over 90,000 people
Culture
Road to Citizenship 10,000 educators and 720,000 childrenI Use de Pedestrian Crossing Over 10,000 children, youngsters and adultsWays to Life Institute Over 1,000 students
EducationRoad to Health Approximately 54,000 truckersHumanized Childbirth Over 5,400 pregnant attended
Education
Lif V l t 744 bl d d t
Health
Life Volunteers 744 blood donatorsI am “Sangue Bom” 249 blood donators
HealthBack Home 1 million of receipts issued per monthQuality Competition Received more than 30 tones of foodGrael Project Helped 4,500 students of public schools
17Social
j p , pSports’ Caravan Benefited over 35,000 children
