2. Overview
OHL Brasil is the largest road operator in the country in terms of managed
kilometers, with 3,225 km. OHL Brasil manages 26% of the total Brazilian
toll roads currently under concession in Brazil.
Controlling shareholder broad experience. OHL Concesiones;
Consistent cash generation and financial strength. Strong Adjusted
EBITDA growth and low indebtedness level;
Potential for Growth. High potential for expansion through Public Auction and
Acquisitions in the Secondary Market;
NOVO MERCADO. Corporate governance best practices (Bovespa’s Novo
Mercado – OHLB3, with a 40% free float).
2
3. New Portfolio
The 5 toll roads won by OHL Brasil in the last auction promoted by ANTT
added 2,078 kilometers of highways in the portfolio managed by the
Company, which became with 3,225 km under management.
High Market-Share. After the victory in the last Federal Roads Auction, we
have increased our market share from 9% to 26% in terms of managed kms;
Privileged Location. OHL Brasil consolidated its participation in the main
economic axes of the country;
Large Population. We have incremented our participation in a region with
high population density, 77 hab./km² against 22 hab./km² in the national
average. There are approximately 35 million people living close to our
highways. If we considering the States in which we operate they are 90 million
people or 50% of the Brazilian population;
Fleet of Vehicles. The States in which we operate hold more than 2/3 of the
Brazilian fleet of vehicles, according to Anfavea;
Term Extension of Portfolio. The average life of our portfolio of concessions
goes by from 14 years to 20 years.
3
4. Highlights
Our traffic on equivalent vehicles grew 8.8% in the 4Q07 against 4Q06 and
8.6% in the year 2007 vs. 2006 in quot;pro formaquot; terms;
We have obtained in the 4Q07 net revenue of R$166.7 million, 16.1% higher
than 4Q06. In 2007 our net income reached R$615.8 million, 13.1% above
2006;
Our adjusted EBITDA grew 19.6% from 4Q06 to 4Q07, totaling R$104.4 million.
In comparison between 2007 and 2006, the increase was 15.7%, reaching
R$382.0 million;
We present a major improvement in the structure of our debt, reducing the
gross debt, lengthening the maturity and lower leverage.
4
5. Traffic Performance
Traffic Perfomance (in thousand Equiv.-Vehicle) Traffic Perfomance (in thousand Equiv.-Vehicle) – “pro-forma”
40.3% 8.8%
- 2.1% - 1.9%
35,465 32,281 31,667
34,724
29,113
7,311 7,064 7,311 7,064
24,754 6,665
2,306
13,214 12,833 13,214 12,833
12,240
12,240
5,420 5,553
5,420 5,553
5,199 5,199
9,519 9,273
5,009 5,009 6,336 6,217
4Q06 3Q07 4Q07 4Q06 3Q07 4Q07
Vianorte
Intervias
Centrovias
Autovias
quot;Pro-Formaquot; Analysis
1. Acquisition of Vianorte since 01/01/06 2. Average Traffic of
5 São Simão and Santa Rita Toll Plazas in the 3Q07 and 4Q07
6. Traffic and Toll Tariff
Traffic Breakdown – 4Q07 Average Toll Tariff (R$)
-2.8%
0.4%
5.35
5.18 5.20
20% 27% 4Q06 3Q07 4Q07
Average Toll Tariff (R$) – “Pro-forma”
6.6%
37% 16%
0.2%
5.69 5.70
5.35
4Q06 3Q07 4Q07
quot;Pro-Formaquot; Analysis
1. Acquisition of Vianorte since 01/01/06 2. Average Traffic of
6 São Simão and Santa Rita Toll Plazas in the 3Q07 and 4Q07
7. Traffic Performance
Comparison with the same period of the previous year - %
Quarter Average Elasticity = 1.0x Annual Average Elasticity = 1.1x
10.5
8.8 8.6
8.4
6.6
5.6 6.2
5.4 5.6 5.6 5.7
5.1 5.4
4.4 4.5
4.1
3.8
2.9 3.0 3.0
2.2
1.8
1.5
(1.4)
1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 2004 2005 2006 2007
OHL Traffic (%)
Brasil GDP (%)
7
8. Net Revenue Performance
Net Revenue Performance (in R$ thousand) Net Revenue Performance (in R$ thousand) – “Pro-forma”
36.4% 16.1%
-1.6% -1.6%
169,308 166,680
169,308 166,680
143,616 39,210
39,210 37,983 37,983
122,206 33,029
11,619 Vianorte
49,852 48,312 49,852 48,312
Intervias
44,230 44,230
Centrovias
37,393 38,289 37,393 38,289
Autovias 34,365
34,365
42,853 42,096 31,992 42,853 42,096
31,992
4Q06 3Q07 4Q07 4Q06 3Q07 4Q07
Net Revenue Breakdown – 4Q07 Electronic Toll (AVI) – 4Q07
Manually Toll
23% 25% 53%
29%
AVI
23%
47%
quot;Pro-Formaquot; Analysis
1. Acquisition of Vianorte since 01/01/06
8
9. Net Revenue Performance
Net Revenue (in R$ million) Net Revenue (in R$ million) – “Pro-forma”
43.1% 13.1%
615.8 615.8
544.4
430.3
36.4% 16.1%
-1.6% -1.6%
169.3 166.7 169.3 166.7
143.6
122.2
4Q06 3Q07 4Q07 2006 2007 4Q06 3Q07 4Q07 2006 2007
quot;Pro-Formaquot; Analysis
1. Acquisition of Vianorte since 01/01/06
9
12. Net Income
In R$ million
Deferred tax credit provision worth
relating to goodwill utilization
(already amortized on an accounting
basis) in the acquisition
of concessionaries: Autovias, • Without the credit of the tax
Centrovias and Intervias deferred, the 2006 Net Income
-24.7%
would have been R$77 million;
99.4 • Thus, the 2007 Net Income
would have been only 2.8%
lower than 2006.
13.5% 22.4 74.9
-22.7%
77.0
27.1
18.4 20.9
4Q06 3Q07 4Q07 2006 2007
12
16. New Opportunities
OHL Brasil maintains its aim to grow and develop the Brazilian market of toll
road concessions. To do this we continue to analyze new opportunities in
the sector.
2nd Concession Program by São Paulo State. 5 lots, totaling 1,500
kms, with emphasis on Ayrton Senna/Carvalho Pinto and Dom Pedro I;
3rd Federal Road Concession. Totaling 4,059 km. Estimated to occur
even in 2008;
Minas Gerais’ Government. 16 lots with 7,000 km. Estimated to occur
in the second half of 2008;
Bahia’s Government. 1 lot with 637 km. Auction planned for May this
year.
16
17. 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 OHL Brasil. These are merely projections and, as such, are based
exclusively on the expectations of OHL Brasil’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.
17
