Apresentacao Ing
Transcript of Apresentacao Ing
September, 2009.September, 2009.
NON-DEALROADSHOW
NON-DEALROADSHOW
José Rubens de la Rosa – CEOJosé Rubens de la Rosa – CEO
Carlos Zignani – Investor Relations DirectorCarlos Zignani – Investor Relations Director
Thiago A. Deiro – Investor Relations ManagerThiago A. Deiro – Investor Relations Manager
AGENDAAGENDA
The CompanyThe Company
Global PresenceGlobal Presence
Marcopolo FiguresMarcopolo Figures
Capital MarketCapital Market
Bus Sector in BrazilBus Sector in Brazil
SustainabilitySustainability
Marcopolo CorporationMarcopolo Corporation
Product Line – Generation 7Product Line – Generation 7
Founded in 1949Founded in 1949
Production Capacity Production Capacity BrazilBrazil 85 units/day85 units/day
(GB Polo not included)(GB Polo not included) Brazil and AbroadBrazil and Abroad 160 units/day160 units/day
No. of Employees 2Q09 No. of Employees 2Q09 BrazilBrazil 9,3699,369
Brazil and AbroadBrazil and Abroad 11,71311,713
No. of plants No. of plants BrazilBrazil 44
AbroadAbroad 88
Dividends 2008Dividends 2008 R$ millionR$ million 52.1 52.1 (38.4% (38.4%
Payout)Payout)
ABOUT MARCOPOLOABOUT MARCOPOLO
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• One of the world’s largest bus body manufacturers;One of the world’s largest bus body manufacturers;
• Leadership position in Brazil with 40% market share;Leadership position in Brazil with 40% market share;
• One of the most recognized brands in the global bus industry;One of the most recognized brands in the global bus industry;
• State-of-the-art technology;State-of-the-art technology;
• Integrated production of nearly all parts used in manufacturing Integrated production of nearly all parts used in manufacturing
process;process;
• Complete product line: coaches, urban buses, midi, micro and Complete product line: coaches, urban buses, midi, micro and
minibuses.minibuses.
MARCOPOLO BRIEF OVERVIEWMARCOPOLO BRIEF OVERVIEW
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UNDERSTANDING MARCOPOLO’S PRODUCTUNDERSTANDING MARCOPOLO’S PRODUCT
CHASSI
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BUS BODY
UNDERSTANDING MARCOPOLO’S PRODUCTUNDERSTANDING MARCOPOLO’S PRODUCT
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Components Bus Production Post-sales Support
► Seats
► Foams
► Windows
► Doors
► Hydro-sanitary installation
► Handbag Compartment
► Plastic Components
► Air Conditioning System
► Audio & Video
► 12 units: 4 in Brazil and
8 abroad
► Presence in over 100
countries
► Up-to-date technology
► Low cost Structure
► Specialized efficient plants
► Qualified workforce
► Customization
► Quality widely recognized
► Sales representatives
► Technical Assistance and
product guarantee
► Retail facilities
► Possibility of financing from
Moneo Bank
VERTICALIZATION & COMPETITIVE ADVANTAGESVERTICALIZATION & COMPETITIVE ADVANTAGES
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AGENDAAGENDA
The CompanyThe Company
Global PresenceGlobal Presence
Marcopolo FiguresMarcopolo Figures
Capital MarketCapital Market
Bus Sector in BrazilBus Sector in Brazil
SustainabilitySustainability
Marcopolo CorporationMarcopolo Corporation
Product Line – Generation 7 Product Line – Generation 7
BUS BODY WORLD MARKET BUS BODY WORLD MARKET Marcopolo has approximatley 8% of the world’s market shareMarcopolo has approximatley 8% of the world’s market share
OTHERS IN LATIN AMERICA 2008 = 6,0002018 = 9,000
RUSSIA2008 = 8,0002018 = 30,000
CHINA 2008 = 40,0002018 = 55,000
AFRICA (without Egypt) 2008 = 6,0002018 = 10,000
BRAZIL2008 = 25,0002018 = 36,000
ARGENTINA 2008 = 2,0002018 = 4,000
USA / CANADA 2008 = 8,0002018 = 12,000
MEXICO2008 = 9,0002018 = 14,000
COLOMBIA 2008 = 4,0002018 = 6,000
CENTRAL AMERICA 2008 = 2,0002018 = 3,000
FAR EAST2008 = 15,0002018 = 20,000
INDIA 2008 = 45,0002018 = 60,000
EUROPE2008 = 30,0002018 = 35,000
SUMMARY
2008 = 204,000
2018 = 300,000
CAGR = 3.9%
EGYPT2008 = 4,0002018 = 6,000
SOURCE: Internal estimates for the production of buses with more than 7ton.SOURCE: Internal estimates for the production of buses with more than 7ton.Note: School BusesNote: School Buses in the USA and Canada are not considered.in the USA and Canada are not considered.
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Suez - Egypt
Loma Hermosa (Buenos Ayres) - Argentina
Caxias do Sul - Brazil
(Planalto & Ana Rech)
Rio de Janeiro - Brazil
Cota (Bogota) - Colombia
Monterrey - Mexico
Johannesburg – South Africa
Changzhou - China (components)
Dharwad & Lucknow - India
Pavlovo – Russia
WORLDWIDE PRESENCEWORLDWIDE PRESENCE
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AGENDAAGENDA
The CompanyThe Company
Global PresenceGlobal Presence
Marcopolo FiguresMarcopolo Figures
Capital MarketCapital Market
Bus Sector in BrazilBus Sector in Brazil
SustainabilitySustainability
Marcopolo CorporationMarcopolo Corporation
Product Line – Generation 7Product Line – Generation 7
32,027
35,410
6,292 5,319
9,122
28.9%31.6%
17.4%21.6%
28.7%
2Q08 1Q09 2Q09 2007 2008
Brazilian Bus Body Production External Market
+10.6%
BRAZILIAN BUS BODY PRODUCTION (units) BRAZILIAN BUS BODY PRODUCTION (units)
+18.3%
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AGENDAAGENDA
The CompanyThe Company
Global PresenceGlobal Presence
Marcopolo FiguresMarcopolo Figures
Capital MarketCapital Market
Bus Sector in BrazilBus Sector in Brazil
SustainabilitySustainability
Marcopolo CorporationMarcopolo Corporation
Product Line – Generation 7 Product Line – Generation 7
2Q08 1Q09 2Q09 2007 2008
DM
EM
Global Production Global Product Breakdown 2Q09
21,811
17,807
+22.5%
5,1093,926
5,480
GLOBAL PRODUCTION (units)GLOBAL PRODUCTION (units)
Volare20.0%
Mini Buses (LCV)15.4%
Micro Buses8.5%
Urban Buses42.5%
Intercity Buses13.6%
+30.1%
DM = Domestic Market
EM = External Market
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Net Sales Breakdown 2Q09Net Sales
2Q08 1Q09 2Q09 2007 2008
DM
EM
+20.5%
485.8
474.1600.1
2,101.1
2,532.2
NET SALES - CONSOLIDATED (R$ Million)NET SALES - CONSOLIDATED (R$ Million)
Intercity Buses24.0%
Volare21.2%
Parts/ Others & Chassis10.4%
Mini Buses (LCV) 5.9%
Micro Buses3.9%
Urban Buses34.6%
+2.5%
DM = Domestic Market
EM = External Market
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47.0%
35.3%40.0%
44.7% 43.0%
2Q08 1Q09 2Q09 2007 2008
-1.7 pp
Gross Profit & MarginMarket Share
474.1
342.6
81.7102.987.9
14.6%21.7%
16.8% 16.3% 18.7%
2Q08 1Q09 2Q09 2007 2008
+38.4%
MARKET SHARE (%) & GROSS PROFIT (R$ Million) MARKET SHARE (%) & GROSS PROFIT (R$ Million)
-20.6%
+4.7 pp
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134.4146.5
32.631.020.3
5.2% 4.3% 5.3%6.7% 7.0%
2Q08 1Q09 2Q09 2007 2008
Net Profit & Margin
273.5
168.5
51.046.726.5
10.8%8.0%10.5%9.9%4.4%
2Q08 1Q09 2Q09 2007 2008
EBITDA & Margin
-8.3%
+62.3%
EBITDA & NET PROFIT (R$ Million)EBITDA & NET PROFIT (R$ Million)
+9.2% +60.6%
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239.0352.9201.0
410.7
402.6
334.4
2Q08 1Q09 2Q09
Net IndebtednessCapex
2Q08 1Q09 2Q09 2007 2008
Note: = Financial Segment
= Industrial Segment
535.4
755.5132.2
110.6
25.838.8
26.0
CAPEX & INDEBTEDNESS (R$ Million)CAPEX & INDEBTEDNESS (R$ Million)
As of June 30, 2009, net debt from industrial segment was 0.8 times LTM EBITDA.
+19.5%
-33.5%
649.7
-14.0%
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CONSOLIDATED FIGURES (R$ Million)CONSOLIDATED FIGURES (R$ Million)
2Q09 2Q08 Var. % 1H09 1H08 Var. %
Production (Thousand Units) 5.1 5.5 (6.8) 9.0 10.2 (11.8)
Net Sales 485.8 600.1 (19.0) 959.9 1,053.2 (8.9)
Gross Profit 81.7 87.9 (7.1) 184.6 167.6 10.1
Net Financial Income 16.3 27.4 (40.3) 16.5 44.9 (63.3)
Net Profit 32.6 31.0 5.2 52.8 59.9 (11.9)
EBITDA 51.0 26.4 93.2 97.7 68.3 43.0
Net Financial Liability - Industrial Segment
239.0 201.0 18.9 239.0 201.0 18.9
Total Assets 2,117.1 2,282.1 (7.2) 2,117.1 2,282.1 (7.2)
Net Equity 724.6 648.9 11.7 724.6 648.9 11.7
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AGENDAAGENDA
The CompanyThe Company
Global PresenceGlobal Presence
Marcopolo FiguresMarcopolo Figures
Capital MarketCapital Market
Bus Sector in BrazilBus Sector in Brazil
SustainabilitySustainability
Marcopolo CorporationMarcopolo Corporation
Product Line – Generation 7 Product Line – Generation 7
1.1%
0.6%
1.8%3.4%
4.6%
8.1%
28.7%51.7%
Foreign Shareholders
Other Shareholders in Brazil
Jose Antonio Fernandes Martins
BNDES Part. S.A.BNDESPAR
Caixa Prev. Bc. Brasil - PREVI
Fundos Adm. Inv. Profissional
Marcopolo Foundation
Controling Shareholders
Preferred Shares
As of June, 30, 2009.As of June, 30, 2009.
Common Shares
64.3%15.2%
6.2%
5.3%
3.7%2.0% 1.7% 1.6%
Controling Shareholders
Fundação Bco. Central - CENTRUS
Bco. Bradesco S.A. / Bradesco Seguros S.A.
Other Shareholders in Brazil
Marcopolo Foundation
BNDES Part. S.A.BNDESPAR
Fundo Fator Sinergia IV FIA
Fundo Participação Social FPS
SHAREHOLDING DISTRIBUTIONSHAREHOLDING DISTRIBUTION
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17.7
30.226.6
50.4 47.5
59.4
1H07 1H08 1H09
Nº of Transactions (thousands) Nº of Shares Traded (millions)
Number of Transactions & Number of Shares
Traded
Traded Value & Market Value (R$ Million)
193.5320.3371.9
1,641.3
1,410.4
997.8
1H07 1H08 1H09
Traded Value Market Value
SHARE LIQUIDITY AND VALUATIONSHARE LIQUIDITY AND VALUATION
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38.4
51.941.852.944.9
0
50
100
150
2004 2005 2006 2007 2008
Net Profit Pay Out (in % ) Dividends(Company)
AVERAGE PAY AVERAGE PAY OUT: 45.6%OUT: 45.6%
NET PROFIT (R$ Million) & PAY OUT RATIONET PROFIT (R$ Million) & PAY OUT RATIO
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Independent Board Members (3 out of 7)
Fiscal Council
Support Committees: Human Resouces & Ethics; Audit & Risks; Strategy & Innovation; and Executive
Independent External Audit
Tag Along (100% Common and 80% Preferred shares)
BMF&Bovespa Corporate Governance Level 2 since 2002
Financial Statements in IFRS
Code of Conduct
Disclosure and Negotiation Policy
Participation in the BMF&Bovespa IGC and ITAG indexes
Heirs’ Succession Plan
CORPORATE GOVERNANCECORPORATE GOVERNANCE
Marcopolo adopts corporate governance best practices, following the principles of
transparency, accountability, social responsibility and equitable treatment of shareholders.Marcopolo adopts corporate governance best practices, following the principles of
transparency, accountability, social responsibility and equitable treatment of shareholders.
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AGENDAAGENDA
The CompanyThe Company
Global PresenceGlobal Presence
Marcopolo FiguresMarcopolo Figures
Capital MarketCapital Market
Bus Sector in BrazilBus Sector in Brazil
SustainabilitySustainability
Marcopolo CorporationMarcopolo Corporation
Product Line – Generation 7 Product Line – Generation 7
4.4 4.5
0
2
4
6
2007 2008
Environmental Investments (R$ Million)
•Destination of waste residue;Destination of waste residue;•Effluent treatment;Effluent treatment;•Atmospheric monitoring;Atmospheric monitoring;•Expansion and Improvements in Expansion and Improvements in
effluents effluents treatment facilities;treatment facilities;•ISO 14001;ISO 14001;•Licensing, annuity;Licensing, annuity;•Environment Laboratory, etc.Environment Laboratory, etc.
+2.3%
93.3 93.5
0
40
80
120
2007 2008
Investments in Education and Training (Average hours per employee)
•Training courses;Training courses;•Financial incentives to high Financial incentives to high
school, school, graduation and graduation and related areas;related areas;
•Foreign languages courses;Foreign languages courses;•Improvements in a specific Improvements in a specific
area.area.
+0.2%
SUSTAINABILITYSUSTAINABILITY
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MARCOPOLO FOUNDATIONMARCOPOLO FOUNDATION
Created in 1988, the Foundation develops the “VidaConvida” program, focused on Created in 1988, the Foundation develops the “VidaConvida” program, focused on
the quality of life of its collaborators and families. And the “SuperAção” program has the quality of life of its collaborators and families. And the “SuperAção” program has
activities aiming the education of children and teens in social and personal activities aiming the education of children and teens in social and personal
vulnerability situation in the communities where the company has factories. In the vulnerability situation in the communities where the company has factories. In the
SuperAção program, the following actions stand out:SuperAção program, the following actions stand out:
1. VOLUNTEER PROGRAM1. VOLUNTEER PROGRAM
Working with 7 institutions of children and teenagers and 2 asylums. Working with 7 institutions of children and teenagers and 2 asylums.
2. MARCOPOLO PROFESSIONAL EDUCATION SCHOOLS2. MARCOPOLO PROFESSIONAL EDUCATION SCHOOLS
Provide social and technical formation, first paid job, scholarships, benefits and Provide social and technical formation, first paid job, scholarships, benefits and
access to the access to the carrier plan of the Company. carrier plan of the Company.
3. SCHOOL PROJECT3. SCHOOL PROJECT
It is a project developed in partnership with schools targeting to It is a project developed in partnership with schools targeting to contribute contribute
with the with the development of educative environment and the relationship along the development of educative environment and the relationship along the
scholar community and scholar community and citizenship formation.citizenship formation.
4. A HAPPY DAY4. A HAPPY DAY
Celebration of Children’s Day, being developed entertainment activities, sundry Celebration of Children’s Day, being developed entertainment activities, sundry
artistic artistic presentations and snacks distribution. presentations and snacks distribution.
PROFESSIONAL QUALIFICATIONPROFESSIONAL QUALIFICATION
For Marcopolo, Training and Development of people are considered as investment. For Marcopolo, Training and Development of people are considered as investment.
SUSTAINABILITYSUSTAINABILITY
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SUSTAINABILITY – G7SUSTAINABILITY – G7
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Approximately 90Kg of fiberglass scrap per produced unit, resulting from the manufacturing of the parts will not longer be addressed to industrial scrap landfills;
In average 400Kg of fiberglass per unit will not be wasted after the product lifetime.
ENVIRONMENTAL EARNINGS WITH THE FIBERGLASS REDUCTION ON GENERATION 7
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BUS BODY TOTAL WEIGHT REDUCTION AND BETTER AERODYNAMIC
PERFORMANCE:
Reduction of fuel consumption and accordingly reduction of greenhouse
effect gases emitting (CO2)
during usage stage. Tires consuming reduction, raising their useful life, preserving a non-regenerative natural resource and minimizing scrap wasting.
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AGENDAAGENDA
The CompanyThe Company
Global PresenceGlobal Presence
Marcopolo FiguresMarcopolo Figures
Capital MarketCapital Market
Bus Sector in BrazilBus Sector in Brazil
SustainabilitySustainability
Marcopolo CorporationMarcopolo Corporation
Product Line – Generation 7 Product Line – Generation 7
PLANTSPLANTS
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AGENDAAGENDA
The CompanyThe Company
Global PresenceGlobal Presence
Marcopolo FiguresMarcopolo Figures
Capital MarketCapital Market
Bus Sector in BrazilBus Sector in Brazil
SustainabilitySustainability
Marcopolo CorporationMarcopolo Corporation
Product Line – Generation 7 Product Line – Generation 7
G7 - PARADISOG7 - PARADISO
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G7 - VIAGGIOG7 - VIAGGIO
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Carlos Zignani
Investor Relations Director
Phone: +55 54 2101.4115
Thiago A. Deiro
Investor Relations Manager
Phone: +55 54 2101.4660
www.marcopolo.com.br/ri_eng
www.marcopolo.com.br/ri_eng
INVESTOR RELATIONS CONTACTINVESTOR RELATIONS CONTACT
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DISCLAIMERDISCLAIMER
This presentation contains future information. Such information is not
simply historical facts, but reflects the desires and the expectations of
the Company’s leadership. The words anticipates, desires, hopes,
forecasts, intends, plans, predicts, projects, wishes and similar ones,
intend to identify affirmations that necessarily involve known and
unknown risks. Known risks include uncertainties that are not limited to
the impact of the competitiveness of the prices and services, market
acceptance of services, the Company’s service transitions and its
competitors, the approval of regulations, currency, fluctuation in the
exchange rate, changes in the mix of services offered, and other risks
described in the reports of the Company. This presentantion is updated
until the present date. However, Marcopolo is not obligated to update it
with new information and/or future events.
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