Post on 20-Jan-2017
transcript
November 6 2015
Presentation of Results 3rd Quarter of 2015
• Recent events
• Summary of the results
• Indebtdness and CAPEX
• Free cash flow
• Q&A
2
Agenda
Recent Events
Acquisition of land in Araquari, Santa Catarina State
• Tegma acquired a piece of land with 70 thousand sq. m in Araquari, for supporting vehicle
logistics operations for a BMW plant that was recently installed in the region
3
Payment of dividends (august)
• On august 31, 2015 was approved the distribution of dividends, amouting R$ 5.0 million (0.076 /
share). The payment occurred on September 11, 2015.
Management’s consolidation of integrated logistic division
• Management from integrated logistics division (warehousing and industrial logistics) is now
headed by a single director.
445.0
343.1
0.0 00
0.0 50
0.1 00
0.1 50
0.2 00
0.2 50
0.3 00
0.3 50
0.4 00
0.4 50
0.5 00
3Q14 3Q15
Gross Revenue (million of R$)
4
Consolidated Automotive Integrated Logistics
384.9
279.2
0.0 00
0.0 50
0.1 00
0.1 50
0.2 00
0.2 50
0.3 00
0.3 50
0.4 00
0.4 50
3Q14 3Q15
60.0 64.0
0.0 00
0.0 10
0.0 20
0.0 30
0.0 40
0.0 50
0.0 60
0.0 70
2Q15 3Q15
342.2 343.1
0.0 00
0.0 50
0.1 00
0.1 50
0.2 00
0.2 50
0.3 00
0.3 50
0.4 00
2Q15 3Q15
282.2 279.2
0.0 00
0.0 50
0.1 00
0.1 50
0.2 00
0.2 50
0.3 00
2Q15 3Q15
-22.9%
+0.3%
-27.5%
-1.1%
+6.5%
+6.7%
60.1 64.0
0.0 00
0.0 10
0.0 20
0.0 30
0.0 40
0.0 50
0.0 60
0.0 70
3Q14 3Q15
350.2
264.4
0.0 00
0.0 50
0.1 00
0.1 50
0.2 00
0.2 50
0.3 00
0.3 50
0.4 00
3Q14 3Q15
Gross Revenue | Automotive Division (million of R$)
5
Vehicles Autoparts
34.7
14.8
0.0 00
0.0 05
0.0 10
0.0 15
0.0 20
0.0 25
0.0 30
0.0 35
0.0 40
3Q14 3Q15
266.9 264.4
0.0 00
0.0 50
0.1 00
0.1 50
0.2 00
0.2 50
0.3 00
2Q15 3Q15
15.4 14.8
0.0 00
0.0 02
0.0 04
0.0 06
0.0 08
0.0 10
0.0 12
0.0 14
0.0 16
0.0 18
2Q15 3Q15
-24.5%
-57.5%
-0.9% -3.8%
37.3
43.2
0.0 00
0.0 05
0.0 10
0.0 15
0.0 20
0.0 25
0.0 30
0.0 35
0.0 40
0.0 45
0.0 50
3Q14 3Q15
22.3 20.8
0.0 00
0.0 05
0.0 10
0.0 15
0.0 20
0.0 25
3Q14 3Q15
Gross Revenue | Integrated Logistics Division (million of R$)
6
Warehousing Industrial Logistics
42.7 43.2
0.0 00
0.0 05
0.0 10
0.0 15
0.0 20
0.0 25
0.0 30
0.0 35
0.0 40
0.0 45
0.0 50
2Q15 3Q15
17.2
20.8
0.0 00
0.0 05
0.0 10
0.0 15
0.0 20
0.0 25
2Q15 3Q15
-6.8% +15.9%
+20.6%
+1.1%
21.5 20.3
0.0 00
0.0 05
0.0 10
0.0 15
0.0 20
0.0 25
0.0 30
2Q15 3Q15
25.3
20.3
0.0 00
0.0 05
0.0 10
0.0 15
0.0 20
0.0 25
0.0 30
0.0 35
3Q14 3Q15
76.0
64.1
0.0 00
0.0 10
0.0 20
0.0 30
0.0 40
0.0 50
0.0 60
0.0 70
0.0 80
0.0 90
9M14 9M15
General and Administrative Expenses (million of R$)
7
9M15 3Q15 vs 3Q14
3Q15 vs 2Q15
-15.7%
-19.7%
-5.7%
3.8
0.1
7.8%
0.1% 0.0 00
0.0 01
0.0 02
0.0 03
0.0 04
3Q14 3Q15
50.5
22.6
14.1% 8.2%
00%
10%
20%
30%
40%
50%
60%
70%
0.0 00
0.0 10
0.0 20
0.0 30
0.0 40
0.0 50
0.0 60
3Q14 3Q15
Adjusted EBITDA (million of R$)
8
46.6
22.5 15.0%
10.1%
00%
05%
10%
15%
20%
25%
30%
35%
40%
0.0 00
0.0 05
0.0 10
0.0 15
0.0 20
0.0 25
0.0 30
0.0 35
0.0 40
0.0 45
0.0 50
3Q14 3Q15
(3.7)
0.1
-7.6%
0.1%
-10%
-08%
-06%
-04%
-02%
00%
-0.004
-0.004
-0.003
-0.003
-0.002
-0.002
-0.001
-0.001
0.0 00
0.0 00
2Q15 3Q15
17.4
22.6
6.3% 8.2%
00%
05%
10%
15%
20%
25%
30%
35%
40%
0.0 00
0.0 05
0.0 10
0.0 15
0.0 20
0.0 25
2Q15 3Q15
21.2 22.5
9.3% 10.1%
00%
05%
10%
15%
20%
25%
30%
35%
40%
0.0 00
0.0 05
0.0 10
0.0 15
0.0 20
0.0 25
2Q15 3Q15
EBITDA Mg (%)
Consolidated Automotive Integrated Logistics
-55.3%
-51.8%
+29.3% +6.3%
23.6
5.1
6.6%
1.9%
00%
05%
10%
15%
20%
0.0 00
0.0 05
0.0 10
0.0 15
0.0 20
0.0 25
3Q14 3Q15
1.2
5.1
0.4% 1.9%
00%
05%
10%
15%
20%
0.0 00
0.0 01
0.0 02
0.0 03
0.0 04
0.0 05
0.0 06
2Q15 3Q15
Net Income|(million of R$)
9
- Before discontinued operations
Net Mg (%)
-78.4%
+328.7%
303.0
265.5
183.7
233.0
156.8
1.6
1.4
1.0
1.6
1.3
00
00
00
01
01
01
01
01
02
02
02
00
100
200
300
400
500
600
3Q14 4Q14 1Q14 2Q15 3Q15
Net Income Debt Maturity
Net Debt
10
CDI + 1.28% Average cost of debt
Ba3 Moody’s Rating
Of debts expiring
after 2017
Indebtdness|(million of R$)
/ EBITDA LTM
7.5
74.8
117.7 116.8
46.7
,00
20, 00
40, 00
60, 00
80, 00
100 ,00
120 ,00
140 ,00
2015 2016 2017 2018 2019
77%
9.5
3.9 4.3
6.8
3.6 4.6
11.6
7.2 7.5
00
05
10
15
20
25
3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15
Investments % Net Revenue
11
Capital Expenditures|(million of R$)
Lands (Acquisition / Lands)
3.4
21.6
17.7
24.3
16.2
17.0 10.5
16.8
6.7
7.0
6.3
45.5
0.0 00
0.0 05
0.0 10
0.0 15
0.0 20
0.0 25
0.0 30
0.0 35
0.0 40
0.0 45
0.0 50
3Q14 3Q15
24.1
22.9
0.0 00
0.0 05
0.0 10
0.0 15
0.0 20
0.0 25
0.0 30
LTM 3Q14 LTM 3Q15
Free Cash Flow|(million of R$)
12
- Before discontinued operations
+39.2
(1.2)
* Includes unaudited data of assets from discontinued operations transferred to Tegma
IR Contacts
Gennaro Oddone – CEO IRO
+55 11 4346-2532
Ian Nunes – IRM
+55 11 4397-9423
13
November 6 2015
Presentation of Results 3rd Quarter of 2015