1q13 results presentation
TRANSCRIPT
May 16nd, 2013
Presentation of Results
1th Quarter 2013
Agenda
• Recent Events
• Financial Results
• Q&A
2
Recent Events
Payment of Supplementary Dividends
3
• On April 30, 2013 was approved the distribution of additional dividends for the
year 2012;
• We carry the payment on the May 13th in the amount of R$ 30 million, or
approximately R$0.45 per share;
Recent Events
Application of CPC´s 18/19/36 | Impacts on Tegma
4
• In 2012 the Accounting Pronouncements Committee (CPC) issued, among others,
statements 18, 19 and 36, which state that jointly controlled entities are recorded in the
financial statements by the equity method;
• With the adoption of these new accounting pronouncements in the 1st quarter of 2013, the
Company ceased to consolidate proportionally controlled Tegma Venezuela SA and
Catlog Logistica;
• In the following slides, the information of 2013 already include this new criteria and 2012
have been adjusted to the same basis of comparison.
41.5 20.0
1Q12 1Q13
Consolidated Results Net Revenue and EBITDA - R$ million
342.1
378.8
1Q12 1Q13
10.8%
5
DRIVEN GROWTH AUTOMOTIVE
OPERATIONS DIVISION, AND FEATURED
VEHICLE PARTS.
Adjusted EBITDA Margin
Net Revenue EBITDA-A
Adjusted EBITDA
DECLINE IN MARGINS DUE TO THE
REVENUE MIX AND THE INCREASE OF
STRUCTURE IN ORDER TO SUPPORT THE
GROWTH
14.0%
12.1% 6..3%
11.2%
-51.7%
32.7
37.3
1Q12 1Q13
238.3
285.6
1Q12 1Q13
Segments Highlights Automotive Logistics – R$ million
Net Revenue of R$ 285.6 million (+19.9 vs 1Q12).
Growth of 10.7% in number of vehicles transported
to market on-year;
Growth of 4.7% in the average distance in the
domestic market;
Increase of 11.2% in revenue from auto parts
logistics;
19.9%
14.2%
6
EBITDA of R$ 37.3 million (14.2% vs 1Q13), with margin of
13.1% (-0.6 p.p vs 1Q12).
INCREASE IN THE VOLUME AND AVERAGE DISTANCE IN LOGISTICS BUSINESS VEHICLE
BOOST GROWTH DIVISION
1Q13
Net Revenue
Adjusted EBITDA
103.8
93.2
1Q12 1Q13
Segments Highlights Integrated Logistics – R$ million
-10.1%
7
INCREASE OPERATIONAL STRUCTURE AND FALL IN SALES
IMPACTED MARGINS OF DIVISION.
1Q13 Net Revenue of R$ 93.2 million (-10.1% vs 1Q12).
• Increase of 48.0% in gross revenue from e-commerce
• Drop of 54% in sales of Electronics and
Telecommunications of discontinuity resulting
contracts;
• Drop of 42% in sales of Bonded Warehousing
due to the change in the rule of FUNDAP.
EBITDA of R$ -17.3 million (-296.5% vs 1Q12), with
margin of -18.6% (-27.1 p.p vs 1Q12).
Net Revenue
Adjusted EBITDA
8.8
-17.3
1Q12 1Q13
-296.5%
Consolidated Results Net Income - R$ million
NET INCOME IMPACTED BY OPERATIONAL RESULTS
8
13.9
4.2
1Q12 1Q13
-69.6%
1Q13
202
226 213
227 233
0.8 X 0.9 X 1.1 X 1.0 X 1.4 X
-10,000.0
-8,000.0
-6,000.0
-4,000.0
-2,000.0
0.0
0
50
100
150
200
250
1Q12 2Q12 3Q12 4Q12 1Q13
Consolidated Results Cash and Equivalents – R$ million
Net Debt/EBITDA
/EBITDA 12 months
Debt Profile
39%
61%
ST LT
9
IR Contacts
Alexandre Brandão
+55 (11) 4346-2532
Ian Nunes
+55 (11) 4397-9423
The forward-looking statements contained in this report are subject to risks and uncertainties. Such forward-looking statements are based on the management’s beliefs and assumptions and information currently available to the Company. Such statements include information about our current plans, beliefs or expectations, as well as those of the Board of Directors and Board of Executive Officers. These reservations concerning forward-looking statements also apply to information on our possible or presumed operating results, as well as declarations preceded by, including or followed by such words as "believe," "may," "will," "continue," "expect," "foresee," "intend," "plan," "estimate" and other similar expressions. Forward-looking statements are not guarantees of performance; Since they refer to the future, they depend on circumstances that may or may not occur and are therefore subject to risks, uncertainties and assumptions. Future results may differ materially from those expressed or suggested by said forward-looking statements. These results and amounts depend on many factors beyond TEGMA’s control or expectations.
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Disclaimer
May 16nd, 2013
Presentation of Results
1th Quarter 2013