Contenu connexe Similaire à 4Q12 Presentation Similaire à 4Q12 Presentation (20) Plus de Arteris S.A. (20) 4Q12 Presentation2. Legal Notice
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 Arteris, these are merely projections and,
as such, are based exclusively on the expectations of Arteris’s management concerning the future of the business
and its continued access to capital to fund the Company’s business plan.
Such forward-looking statements depend, substantially, on changes in market conditions, government regulations,
competitive pressures, the performance of the Brazilian economy and the industry and are, therefore, subject to
change without prior notice.
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3. Tolled Traffic
Var% Var% Var%
Vehicle-Equivalents (Thousand) 4Q12 3Q12 4Q11 2012 2011
4Q12/3Q12 4Q12/4Q11 2012/2011
State Concessions 49,785 50,351 46,747 -1.1% 6.5% 189,694 182,180 4.1%
Autovias 11,473 11,656 10,919 -1.6% 5.1% 44,102 42,931 2.7%
Centrovias 13,507 13,446 12,364 0.5% 9.2% 50,696 47,642 6.4%
Intervias 15,785 16,069 14,967 -1.8% 5.5% 60,471 58,534 3.3%
Vianorte 9,020 9,180 8,497 -1.7% 6.2% 34,425 33,073 4.1%
Federal Concessions 131,348 128,053 127,556 2.6% 3.0% 506,993 487,193 4.1%
Planalto Sul 7,107 7,029 7,079 1.1% 0.4% 27,945 27,969 -0.1%
Fluminense 12,416 12,183 12,099 1.9% 2.6% 48,913 46,778 4.6%
Fernão Dias 41,647 41,253 39,912 1.0% 4.3% 160,707 153,191 4.9%
Régis Bittencourt 37,550 37,100 37,435 1.2% 0.3% 146,097 143,705 1.7%
Litoral Sul 32,628 30,488 31,030 7.0% 5.2% 123,331 115,550 6.7%
Total 181,133 178,404 174,303 1.5% 3.9% 696,687 669,372 4.1%
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4. Toll Tariff
Var% Var% Var%
Average Toll Tariff (R$ / Vehicle-Equivalents) 4Q12 3Q12 4Q11 2012 2011
4Q12/3Q12 4Q12/4Q11 2012/2011
State Concessions 6.47 6.46 6.20 0.1% 4.3% 6.34 5.93 6.9%
Autovias 6.79 6.76 6.53 0.5% 4.0% 6.67 6.25 6.7%
Centrovias 6.17 6.16 5.91 0.2% 4.4% 6.05 5.66 6.9%
Intervias 5.60 5.62 5.35 -0.3% 4.8% 5.49 5.13 7.1%
Vianorte 8.02 8.01 7.71 0.1% 4.0% 7.85 7.34 6.8%
Federal Concessions 1.79 1.79 1.68 0.3% 6.8% 1.78 1.68 6.3%
Planalto Sul 3.34 3.30 3.13 1.2% 6.7% 3.31 3.11 6.5%
Fluminense 3.10 3.10 2.80 0.0% 10.7% 3.07 2.78 10.4%
Fernão Dias 1.40 1.40 1.31 0.0% 6.6% 1.40 1.30 7.4%
Régis Bittencourt 1.80 1.80 1.70 0.0% 5.8% 1.80 1.70 5.8%
Litoral Sul 1.45 1.42 1.35 2.1% 7.3% 1.41 1.36 4.1%
Total 3.08 3.11 2.89 -0.9% 6.4% 3.03 2.84 6.7%
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5. Gross Revenue Composition
Gross Revenue (R$ million)
3,328
2,900 103
105
1,117
896
5.7%
Others
Construction
827 877 875 Toll
2,108
25 23 1,900
24
299 298 295
504 554 557
4Q11 3Q12 4Q12 2011 2012
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6. Costs and Expenses
Var% Var% Var%
Costs and Services Expenses (R$ Thousand) 4Q12 3Q12 4Q11 2012 2011
4Q12/3Q12 4Q12/4Q11 2012/2011
Third Party Services (48,915) (46,221) (46,853) 5.8% 4.4% (186,627) (180,618) 3.3%
Personnel (46,588) (46,319) (42,489) 0.6% 9.6% (186,466) (162,908) 14.5%
Conservation (27,381) (22,855) (27,204) 19.8% 0.7% (102,321) (92,068) 11.1%
Inspection fee (8,708) (8,682) (8,187) 0.3% 6.4% (34,673) (32,602) 6.4%
Costs w ith granting authority (10,019) (10,080) (9,035) -0.6% 10.9% (37,446) (33,745) 11.0%
Insurance and guarantees (4,430) (5,523) (7,431) -19.8% -40.4% (20,765) (20,684) 0.4%
Directors' compensation (4,644) (3,866) (2,835) 20.1% 63.8% (15,471) (12,443) 24.3%
Civil, labor and tax risks (2,240) (1,777) (1,136) 26.1% 97.2% (4,902) 2,488 -297.0%
Tax expenses (855) (610) (831) 40.2% 2.9% (3,700) (2,747) 34.7%
Other operating expenses, net (21,873) (20,533) (28,940) 6.5% -24.4% (96,914) (85,308) 13.6%
Total (Cash Costs) (175,653) (166,466) (174,941) 5.5% 0.4% (689,285) (620,635) 11.1%
% Cash Costs / Net Revenue (excl. construction) 33.5% 31.7% 36.6% 1.7 p.p. -3.1 p.p. 34.4% 34.2% 0.2 p.p.
Cost of construction services (294,554) (297,785) (299,289) -1.1% -1.6% (1,117,137) (896,233) 24.6%
Provision for maintenance in highw ays (68,137) (72,430) (35,897) -5.9% 89.8% (235,956) (183,125) 28.8%
Depreciation and amortization (62,172) (65,478) (54,644) -5.0% 13.8% (241,519) (203,972) 18.4%
Total (600,516) (602,159) (564,771) -0.3% 6.3% (2,283,897) (1,903,964) 20.0%
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7. Operational Performance
Adjusted EBITDA and Adjusted EBITDA Margin (R$ million)
1400.0 200.0%
1,314
1,195
1200.0
150.0%
1000.0
66.5% 100.0%
63.4% 68.3%
65.8% 65.7%
800.0
50.0%
600.0
0.0%
400.0 358 349
304
-50.0%
200.0
0.0 -100.0%
4Q11 3Q12 4Q12 2011 2012
*Adjusted EBITDA Margin considers Net Revenue, excluding Construction Revenue. 7
8. Financial Result
Var% Var% Var%
Financial Result (R$ Thousand) 4Q12 3Q12 4Q11 2012 2011
4Q12/3Q12 4Q12/4Q11 2012/2011
Financial Income 18,922 19,220 32,496 -1.6% -41.8% 102,566 156,510 -34.5%
Interest Receivable 260 258 (2,072) 0.8% -112.5% 1,032 5,928 -82.6%
Financial Investments 15,465 18,811 34,858 -17.8% -55.6% 89,427 145,249 -38.4%
Financial Charges - Reversal of Present Value Adjustments 2,834 51 2,923 5456.9% -3.0% 11,267 2,923 2.854601437
Other Revenues 363 100 (3,213) 263.0% -111.3% 840 2,410 -65.1%
Financial Expenses (79,556) (85,695) (88,963) -7.2% -10.6% (339,935) (363,658) -6.5%
Financial Charges (62,620) (61,592) (74,254) 1.7% -15.7% (263,613) (305,752) -13.8%
Monetary Adjustment of Concession Charges (5,270) (14,532) (6,936) -63.7% -24.0% (37,299) (34,683) 7.5%
Financial Charges - Reversal of Present Value Adjustments (8,369) (6,063) (4,031) 38.0% 107.6% (26,719) (7,831) 241.2%
Other Expenses (3,297) (3,508) (3,742) -6.0% -11.9% (12,304) (15,392) -20.1%
Net Exchange Variation (6) - 421 - -101.4% (28) (61) -54.1%
Financial Result (60,640) (66,475) (56,046) -8.8% 8.2% (237,397) (207,209) 14.6%
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9. Net Income Evolution
Net Income (R$ million)
450.0
400.0
350.0
300.0
250.0
200.0 404 404
150.0
100.0
50.0 105 103 107
-
4Q11 3Q12 4Q12 2011 2012
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10. Indebtedness
Debt Var% Var%
4Q12 3Q12 4Q11
(In thousands of Brazilian reais) 4Q12/3Q12 4Q12/4Q11
Gross Debt 3.234.652 3.199.636 3.098.442 1,1% 4,4%
Short Term 472.786 452.674 426.332 4,4% 10,9%
Long Term 2.761.866 2.746.962 2.672.110 0,5% 3,4%
Cash Position 814.312 962.807 1.301.623 -15,4% -37,4%
Cash and equivalents 681.437 848.760 1.178.454 -19,7% -42,2%
Restricted investments ¹ 132.875 114.047 123.169 16,5% 7,9%
Net Debt 2.420.340 2.236.829 1.796.819 8,2% 34,7%
¹ Short and long term
Gross Debt Profile Leverage Ratio and Net Debt
1.9 1.9 2,5
2.000 1.6
1,5
0.2%
13.0%
1.500
TJLP BNDES 0,5
38.7% 2,420
2,237
Debentures
1.000
CDI 1,797 (0,5)
25.9%
61.1% 61.1%
IPCA Others 500 (1,5)
- (2,5)
4Q11 3Q12 4Q12
Net Debt
Net Debt/ Adjusted EBITDA – Fixed
Concession Charge (last 12 months) 10
11. Investments – Cash Disbursements
Intangible and Fixed Assets and Highway Maintenance (R$ million)
1,247,491
141,066
1,007,900
131,188
828,784
77,997 725,473
679,527
127,192
1,106,425
876,712
750,787
679,527
598,281
2008 2009 2010 2011 2012
Intangible and Fixed Assets Maintenance
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12. Investor Relations
ri@arteris.com.br
R. Joaquim Floriano, 913 – 6º andar
Itaim Bibi – São Paulo – SP – CEP 04534-013
+55 11 3074-2410
www.arteris.com.br/ir
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