27 de março de 2014

Apresentação de Resultados 4º Trimestre de 2014

Desafios e Realizações 2014

2

Transição de comando

Equacionamento Direct

Queda de volume no setor automotivo

Alongamento da dívida

Descontinuação de negócios com retorno abaixo do

compatível ao risco assumido

Entrada no segmento Inbound de linha branca

Controle rigoroso de custos e investimentos

O reforço das estruturas de compliance

A continuidade da recuperação da Logística Integrada

498,6 492,8

0,0

100 ,0

200 ,0

300 ,0

400 ,0

500 ,0

600 ,0

4T13 4T14

Receita Bruta (R$ milhões)

3

Consolidado Automotivo Logística Integrada

Consolidado Automotivo Logística Integrada

438,5 431,3

0,0

50, 0

100 ,0

150 ,0

200 ,0

250 ,0

300 ,0

350 ,0

400 ,0

450 ,0

500 ,0

4T13 4T14

60,2 61,6

0,0

10, 0

20, 0

30, 0

40, 0

50, 0

60, 0

70, 0

4T13 4T14

1.936,3 1.787,3

0,0

200 ,0

400 ,0

600 ,0

800 ,0

1.0 00,0

1.2 00,0

1.4 00,0

1.6 00,0

1.8 00,0

2.0 00,0

2013 2014

1.698,7 1.557,0

0,0

200 ,0

400 ,0

600 ,0

800 ,0

1.0 00,0

1.2 00,0

1.4 00,0

1.6 00,0

1.8 00,0

2013 2014

237,6 230,3

0,0

50, 0

100 ,0

150 ,0

200 ,0

250 ,0

2013 2014

-1,2% -1,6% +2,3%

-7,7% -8,3% -3,1%

Receita Bruta | Divisão Automotiva (R$ milhões)

4

Transporte Autopeças Serviços Logísticos

Transporte Autopeças Serviços Logísticos

352,0 365,3

0,0

50, 0

100 ,0

150 ,0

200 ,0

250 ,0

300 ,0

350 ,0

400 ,0

4T13 4T14

47,7

25,1

0,0

10, 0

20, 0

30, 0

40, 0

50, 0

60, 0

4T13 4T14

38,3 40,9

0,0

5,0

10, 0

15, 0

20, 0

25, 0

30, 0

35, 0

40, 0

45, 0

4T13 4T14

1.315,9 1.278,1

0,0

200 ,0

400 ,0

600 ,0

800 ,0

1.0 00,0

1.2 00,0

1.4 00,0

2013 2014

221,9

139,9

0,0

50, 0

100 ,0

150 ,0

200 ,0

250 ,0

2013 2014

155,4 139,0

0,0

20, 0

40, 0

60, 0

80, 0

100 ,0

120 ,0

140 ,0

160 ,0

180 ,0

2013 2014

+3,8%

-47,4% +6,7%

-2,9%

-37,0% -10,6%

Receita Bruta | Divisão Logística Integrada (R$ milhões)

5

Armazenagem Logística Industrial

Armazenagem Logística Industrial

22,5 21,5

0,0

5,0

10, 0

15, 0

20, 0

25, 0

4T13 4T14

29,4

40,1

0,0

5,0

10, 0

15, 0

20, 0

25, 0

30, 0

35, 0

40, 0

45, 0

4T13 4T14

80,9 87,5

0,0

10, 0

20, 0

30, 0

40, 0

50, 0

60, 0

70, 0

80, 0

90, 0

100 ,0

2013 2014

108,0

136,7

0,0

20, 0

40, 0

60, 0

80, 0

100 ,0

120 ,0

140 ,0

160 ,0

2013 2014

-4,7%

+36,3%

+8,1% +26,5%

EBITDA (R$ milhões)

6

Consolidado Automotivo Logística Integrada

Consolidado Automotivo Logística Integrada

Mg EBITDA (%)

52,7 57,1

12,9%

14,4%

11,0%

12,0%

13,0%

14,0%

15,0%

16,0%

17,0%

18,0%

19,0%

0,0

10, 0

20, 0

30, 0

40, 0

50, 0

60, 0

70, 0

4T13 4T14

51,2 51,7

14,3% 14,9%

11,0%

13,0%

15,0%

17,0%

19,0%

21,0%

23,0%

25,0%

0,0

10, 0

20, 0

30, 0

40, 0

50, 0

60, 0

4T13 4T14

1,5

3,6

3,1% 7,1%

0,0%

5,0%

10,0%

15,0%

20,0%

25,0%

30,0%

-

0,5

1,0

1,5

2,0

2,5

3,0

3,5

4,0

4T13 4T14

199,9 188,6

12,7% 13,1%

10,0%

11,0%

12,0%

13,0%

14,0%

15,0%

16,0%

0,0

50, 0

100 ,0

150 ,0

200 ,0

250 ,0

2013 2014

205,7

175,5

14,8% 14,0% 10,0%

12,0%

14,0%

16,0%

18,0%

20,0%

22,0%

24,0%

26,0%

28,0%

0,0

50, 0

100 ,0

150 ,0

200 ,0

250 ,0

2013 2014

(5,8)

11,3

-3,0%

6,0%

-13,0%

-8,0%

-3,0%

2,0%

7,0%

12,0%

(8,0)

(6,0)

(4,0)

(2,0)

-

2,0

4,0

6,0

8,0

10, 0

12, 0

14, 0

2013 2014

+8,3% +1,0%

-5,6% -14,7%

Histórico EBITDA (R$ milhões)

7

Consolidado Automotivo

Logística Integrada

Mg EBITDA (%)

36,7

44,3

64,2

40,2

32,6

55,7

58,8

52,7

33,4

47,6

50,5

57,1

12,6% 13,4%

16,9%

10,4% 9,8%

13,3% 14,1%

12,9%

10,2%

13,4% 14,1% 14,4%

-0,2%

4,8%

9,8%

14,8%

19,8%

24,8%

29,8%

34,8%

39,8%

44,8%

0,0

10, 0

20, 0

30, 0

40, 0

50, 0

60, 0

70, 0

1T12 2T12 3T12 4T12 1T13 2T13 3T13 4T13 1T14 2T14 3T14 4T14

55,6

43,8

37,3

57,0 60,1

51,2

34,3

42,8 46,6

51,7

17,4%

13,4% 13,1%

15,5% 16,1%

14,3%

12,1%

13,7% 15,0% 14,9%

6,0%

11,0%

16,0%

21,0%

26,0%

31,0%

0,0

10, 0

20, 0

30, 0

40, 0

50, 0

60, 0

70, 0

3T12 4T12 1T13 2T13 3T13 4T13 1T14 2T14 3T14 4T14

8,6

(3,6) (4,7)

(1,3) (1,3)

1,5

(0,9)

4,8 3,8 3,6

10,9% 7,8% 7,1%

-30,0%

-20,0%

-10,0%

0,0%

10,0%

20,0%

30,0%

40,0%

50,0%

(6,0)

(4,0)

(2,0)

-

2,0

4,0

6,0

8,0

10, 0

3T12 4T12 1T13 2T13 3T13 4T13 1T14 2T14 3T14 4T14

89,4 86,3

5,7% 6,0%

0,0%

2,0%

4,0%

6,0%

8,0%

10,0%

12,0%

14,0%

16,0%

0,0

10, 0

20, 0

30, 0

40, 0

50, 0

60, 0

70, 0

80, 0

90, 0

100 ,0

2013 2014

Lucro Líquido|(R$ milhões)

8

4T14 vs. 4T13 2014 vs. 2013

sem operação descontinuada e adesão REFIS

Mg Líquida (%)

17,0

28,6

4,2%

7,2%

-1,0%

1,0%

3,0%

5,0%

7,0%

9,0%

11,0%

13,0%

15,0%

17,0%

19,0%

0,0

5,0

10, 0

15, 0

20, 0

25, 0

30, 0

35, 0

4T13 4T14

+68,6%

-3,5%

Dívida Líquida Histórico do Perfil da Dívida

Divida Líquida

9

CDI + 1,32% Custo médio da Dívida

Ba3 Classificação de Risco - Moody´s

93% da dívida vence de

2016 em diante

Endividamento|(R$ milhões)

/ EBITDA LTM Longo Prazo Curto Prazo

70%

84% 94% 93% 93%

30%

16% 6% 7% 7%

0,0 %

20, 0%

40, 0%

60, 0%

80, 0%

100 ,0%

120 ,0%

4T13 1T14 2T14 3T14 4T14

Parcelas da Venda

280,2 273,9

310,7

188,0 186,5

303,0

265,5

1,4 1,4

1,6 1,6

1,4

1,0 1,0

(1,5)

(1,0)

(0,5)

-

0,5

1,0

1,5

2,0

150 ,0

200 ,0

250 ,0

300 ,0

350 ,0

400 ,0

4T13 1T14 2T14 3T14 4T14

20,7

8,2

14,8

9,3

12,0

7,7

9,5

3,9

5,0

6,8 7,0

4,5

7,1%

2,5%

3,9%

2,4%

3,6%

1,9%

3,9%

0,9%

1,5% 1,9% 2,0%

2,8%

2,3%

1,3%

-1,0%

1,0%

3,0%

5,0%

7,0%

9,0%

11,0%

13,0%

15,0%

-3,0

2,0

7,0

12, 0

17, 0

22, 0

1T12 2T12 3T12 4T12 1T13 2T13 3T13 4T13 1T14 2T14 3T14 4T14

Investimentos % Receita Líquida

10

Investimentos|(R$ milhões)

% Receita Líquida sem Investimentos extraordinários

21,7

16,3

Contatos de RI

Fabio Carvalho – CEO DRI

+55 (11) 4346-2532

Ian Nunes - GRI

+55 (11) 4397-9423

11

14 de Agosto de 2014

Apresentação de Resultados 3º Trimestre de 2014