The Sales Department

Institutional Presentation
Fernando Antonio Simões
History
1950
1970
Creation of
Company
foundation
Beginning of
cargo
transportation
activities of Julio
Simões
1980
1990
Service
diversification
Operation in
Acquisition
new
of Transcel
businesses
Charter
services and
Passenger
Tourism, transportation
Rental of light concessions
vehicles
2000 - 2010
Consolidation of logistics
integrated services
Acquisition
of
Lubiani
Logística
(June/07)
Beginning of
integrated
services and
new
industries
Mining and
food products
IPO
Perpetuity and
support to
growth
Acquisition of
Transportadora
Urban Distribution
Grande ABC
Food and
(April/08)
Civil Aviation
Outsourcing of light
vehicles for the 2007
Pan American Games
2011 Proforma Net
Revenue:
R$2.7 billion
CAGR01-11: 28.3%
Acquisition of
Rodoviário Schio
Creation of CS
Brasil
Group’s 1st
acquisition
Acquisition of
Transcoffer
Beginning of
dedicated,
customized
services
Forestry, auto,
rental of heavy
equipment
> 2011 - 2012
Merger of Simpar
Concessionárias
Creation of JSL
Aluguel de
Caminhões
Organizational Identity
Business
Mission
Vision
Values
Solutions and Services of industrial and social
integration.
To provide services and logistics solutions, through a
dedicated workforce, generating value for our clients
and shareholders, and contributing to the
development of the communities where we operate.
Maintain our position as the leading Logistics Operator in the
market, offering the broadest range of services and innovative
solutions, that are recognized for their excellence and are
aligned with the clients’ needs
To be recognized for the professionalism of our management
To become a benchmark in the utilization and
commercialization of assets.
The client: Understand and serve, to ensure a long term relationship.
People: They make all the difference in our business.
Hard work: You don´t build anything without it.
Simplicity: Objective in our actions, to ensure agility.
Profit: Indispensable for growth and perpetuation.
Geographic Presence
Present in all regions of Brazil
and 4 Latin America countries
139 branches in 16 states and 4 countries
More than 20,000 employees
14 Distribution Centers across Brazil
1 Intermodal Logistics Center
1 Dry Port at Suape – PE and 1 Redex at Santos - SP
42 SALE POINTS:
13 used vehicle stores
29 dealerships
JSL Concessionárias - light vehicles
JSL Concessionárias - heavy vehicles
Seminovos JSL – used light vehicles
Seminovos JSL - used heavy vehicles
Business Lines
Dedicated
Logistics
Services
Fleet
Management
and
Outsourcing
% of Gross Revenue from Services of JSL + Schio – Base: last 12 months
Passenger
Transportation
General Cargo
Transportation
Diversified Revenue
Solid relations with clients and diversified revenue
Consumer
Goods
Breakdown of Gross
Revenue from
Services by Sector¹
Capital
Goods
4%
Eletric
Energy
2%
Food and Beverage
15%
5%
Others
6%
50 largest clients represent
Petrochemical
around
5%
Pulp and
Paper
Presence in
more than 16
sectors of the
economy
58% of the gross revenue
Agriculture
6%
Passenger
Transportation
Public
10%
13%
Automotive
11%
Steel and
Mining
11%
¹ JSL + Schio Proforma last 12 months
12%
Historical relationships and activities
They begin in great majority with 1 service
1º
PULP AND
PAPER
1º
AUTOMOTIVE
2º
1º
METAL &
MINING
FOOD &
BEVERAGE
ELETRIC &
BIOENERGY
OTHERS
56 years
9 services
17 years
5 services
28 years
1 service
39 years
7 services
3 years
2 services
10 years
3 services
34 years
12 services
17 years
2 services
28 years
3 services
20 years
4 services
3 years
1 service
18 years
4 services
22 years
1 service
16 years
2 services
10 years
7 services
15 years
5 services
3 years
3 services
2 years
2 services
9 years
7 services
16 years
1 service
6 years
2 services
13 years
7 services
2 years
1 service
4 years
1 service
5 years
7 services
16 years
6 services
9 years
4 services
2 years
1 service
2 years
3 services
3 years
1 service
JSL has been building relationships with
its clients for more than 50 years
Rankings correspond to the classification of JSL in the respective
segments in ILOS Logistics Award 2012, traditional award that
recognizes the best companies in the industry
Currently with
more than 300
clients
JSL in figures
Logistics
3.2 billion
28.3%
LTM logistics
revenue
15.3 million
km mileage¹
More than 34,000
operating assets
16 industries
Over 300
+22,000
active clients
employees
25%
organic
CAGR
2001-2011
6.4 milion
7,100 tires
9.3 million
liters of fuel¹
bought¹
transported passengers¹
30.7 million in
charter service
payments¹
Dealerships and Insurance Brokers¹
Vehicles
Sold
Number
Total
New
R$ million
Used
Revenue
Total
2,031
1,323
708
82.7
Light
1,907
1,213
694
60.1
124
110
14
22.6
Heavy
¹Monthly average in 2012
• 1.156 insured
assets
• 66% renewal rate
Da prospecção à operação
From prospecting to operation
Eduardo Pereira
From Prospecting to Operation
• Prospecting
• Pricing
• Closing
New business
development
Asset resale
Financing and
acquisition
From
business
prospecting
to operation
Implementation
• Check list
• Dedicated structure
Operation
• Services
• Monitoring
New Business Development
Prospecting
Project and Pricing
New business
development
Closing
Financing and
acquisition
Asset
resale
Implementation
Operation
Active prospecting
through clients
Negotiation: Only
Sales Area takes
part
Sales
Executive
Board
• The client contacts our
sales department
• The Sales Department
develops a new
opportunity
General and
dedicated cargo
Rental light
equipment
Rental heavy
equipment
Car manufacturing
Machines/
Equipment
Chilled and
International
Operations Executive Board
• The Operational
Department identifies a
new potential service for
a current client and
submits it to the Sales
Department
• Public bidding
Development
Management
Mining
Forestry
Sugar and ethanol
Management
and Outsourcing
CS Brasil
New Business Development
Prospecting
Project and Pricing
Closing
New business
development
Asset
resale
This is the foundation
for pricing
Operational
Department
The project
joins 3
areas
Project
Department
Sales
Department
Financing and
acquisition
Implementation
Operation
• Technical support to the Project Department in
managing assumptions
• Market view
• Develops opportunity
• Technical visit to get to know detailed needs
• Understands the client’s needs
• Brings the opportunity to the Project
Department
New Business Development
Prospecting
Project and Pricing
Closing
New business
development
Financing and
acquisition
Asset
resale
Implementation
Operation
• Assumptions
Pricing
• Management
software
Sales Conditions
• Asset acquisition price
• Pricing
spreadsheet
• Pricing and Sales
Conditions
• Fixed asset depreciation
• Period: 2 to 10 years
• Return on fixed asset
• Adjustments
• Residual amount
+
• Minimum volume
• Operating costs
• Cancellation penalties
• Administrative expenses
• Obligation to purchase in case
• Taxes
of early termination
• Margin
The pricing assumptions are ratified by the operational manager
and the price is ratified by the Sales Executive Officer, for final
approval by the CEO or another Executive Officer
New Business Development
Prospecting
Project and Pricing
Closing
New business
development
Asset
resale
Implementation
Operation
Proposal sent to
client
• Sales Department
submits proposal
to the client
Negotiations
• Request for review
of price/service
• Acceptance or not
acceptance of
business according
to new assumptions
revised by both JSL
and the client
Execution of
Contract
• Operational
assumptions are a
part of the contract,
ensuring that
operation and project
are in line.
• Analysis and
execution of contract
Financing and
acquisition
Checklist
Checklist of
deployment for
involved areas
Informar o layout do EDI (comunicação Cliente/JSL)
Verificar a possibilidade com o cliente de fornecer internet
Solicitar link de internet
Informar necessidade de internet 3G
Informar os usuários para email
20-30 dias de
antecedência
New business
development
2 dias de
E-mail
Financing and
acquisition
antecedência
Fiscal - Abertura de filial
Contato da área
Prazo
Via
Entrar em contato com a matriz (Controladoria) para verificar a necessidade
Antônio Carlos Ajudarte
de abertura de filial ou ponto de apoio
Asset
Enviar para o setor Fiscal o endereço da nova filial (ATENÇÃO: CEP Verificar
resale
se o CEP é o mesmo nos Correios/Prefeitura e outros órgãos)
30 dias para
Enviar a documentação que comprove a regularidade do local (Laudo do
Estado de SP,
bombeiro, certidão de débitos na prefeitura, pauta aprovada, habite-se)
60 dias
E-mail
Operation
Enviar a documentação para a locação do local ao Jurídico
outros
Vânia de Siqueira
Verificar na prefeitura se podemos exercer a atividade e enviar o
Estados
comprovante (Depende de cada região: Uso do solo, diretrizes, viabilidade)
Providenciar licenças para o exercício da atividade
Verificar na prefeitura se não existe outra empresa cadastrada no local e
enviar o comprovante (Prefeitura e Secretaria da Fazenda)
Fiscal - Documentação
Contato da área
Prazo
Via
Informar ao setor Fiscal a operação juntamente com o número de inscrição
e CNPJ
Solicitar a área Fiscal os formulários
7 dias de
Fábio Barbosa
E-mail
antecedência
Definir junto ao Fiscal a forma de preenchimento e emissão de
conhecimentos
Ligar para a matriz em caso de dúvida quanto à tributação
Cadastro
Contato da área
Prazo
Via
Solicitar cadastro dos veículos
Após
chegada dos
Solicitar cadastro dos equipamentos
ativos
Após
admissão dos
Solicitar cadastro de motoristas
motoristas
Após
Diorwilton Heusser admissão dos Sistema
Solicitar cadastro de usuários no sistema
usuários
Solicitar cadastro de rotas
1ª semana
de
Solicitar cadastro de pontos de entrega (CNPJ origem/destino)
implantação
Após
Solicitar cadastro de tabela comercial no sistema
definido o
modelo fiscal
Sistema de Gestão
Contato da área
Prazo
Via
Definir procedimentos padrões
Definir meios de controle da operação
Até 30 dias
Definir os indicadores operacionais
Simone Gonzalez
após início E-mail
Validar com SGI (Sistema de Gestão Integrada)
da operação
Treinamento da equipe envolvida
Definir modelos de relatórios a serem usados na operação
Aplicável
Implementation
Aplicável
Aplicável
Aplicável
Raio X das Operações
X-Ray of Operations
Adriano Thiele
Business Lines
Valueadded
services
Combination of
transportation and
warehousing services
*
Dedicated
Services
*
Management
and
Outsourcing
Passenger
Transportation
LOGISTICS
SERVICES
PYRAMID
Higher Value Added
Supply chain
management and
integrated
distribution
Leading
company
focused on high
value-added
businesses
* JSL + Schio Gross Revenue from
Services in the last 12 months
Source: Booz Allen
Transportation or
warehousing
General
Cargo
Supply Chain Dedicated Services
•
•
•
•
*
High value added with integrated, flexible and customized solutions
Physical and human resources exclusively allocated to the operation
Specific IT and processes
Demands high technical specifications
Expertise in several
sectors of the economy
Complete logistics solutions
What we do
Main Sectors
(% of Revenue¹):
• Dedicated operations,
customized client service
• Food (26.6%)
• Complete portfolio of
services
• High client loyalty levels
• Pulp and Paper (19.5%)
INBOUND
• High cross-selling rates
•
•
•
•
•
Gross Revenue from *
Services
WAREHOUSING AND
INTERNAL LOGISTICS
OUTBOUND
Input handling and warehousing
Production line supply
Stockroom management
Handling and warehousing of finished products
Shipment of finished products
R$1.5 billion
LTM revenue
* Proforma Schio + JSL Gross Revenue from Services in the last 12 months
¹ Proforma Schio + JSL Gross Revenue from Dedicated Services n the last 12 months
² 2Q12 base date
CAGR 08-11: +17.8%
• Automotive (18.5%)
• Steel and Mining
(10.5%)
• Sugar and Ethanol (6.7%)
10,412 Employees²
7,819 Operational Assets²
Supply Chain Dedicated Services
Pulp and Paper
• Revenue of R$291.5 million
• Services:
- Loading and transportation of
wood
- Handling and transportation of
pulp
- Industrial cleaning
- Waste removal
• 2,203 Employees¹ and
2,346 Operational Assets¹
Automotive
• Revenue of R$277.2 million
• Services:
- Milk run
- Just in time
- Cross docking
- Information management
- Production line supply
- Stockroom management
• 1,322 Employees¹ and
1,164 Operational Assets¹
*Percentage of proforma Schio + JSL Gross Revenue from Services in the last 12 months
¹ 2Q12 base date
*
Steel and Mining
• Revenue of R$157.6 million
• Services:
- Loading and transportation of
ore
- Waste management
- Highway maintenance
- Industrial cleaning
- Road watering
• 993 Employees¹ and
603 Operational Assets¹
Supply Chain Dedicated Services
Food and
Beverages
*
Sugar and
Ethanol
• Revenue of R$398.1 million
• Revenue of R$100.9 million
• Services:
• Services:
- Inbound/outbound
- Warehousing/handling of frozen and
chilled products
- Labor outsourcing
• 4,290 Employees¹ and
1,944 Operational Assets
* Proforma Schio + JSL Gross Revenue from Services in the last 12 months
¹ 2Q12 base date
- Transportation of chopped sugarcane
- Transportation of sugarcane from the
field to the industrial unit
941 Employees¹ and
849 Operational Assets¹
Automotive (example)
Dedicated Services, Fleet Management and Outsourcing and Passengers Transportation
Internal handling and
assembly of kits
Auto parts.
Milk run.
Transportation of
employees
Fleet management and
outsourcing
Delivery of raw
materials.
Inbound
Shipping.
Outbound
Inventory maintenance
and management
Invoicing
Electronic
registration of
inventory
Mining (example)
Dedicated Services, Fleet Management and Outsourcing and Passengers Transportation
Rental of vehicle with
driver at the client’s
disposal
Loading of ore
Highway
maintenance
24-hour monitoring via
satellite and telemetry
Transportation
center
Transport of ore
Unloading
of ore
Waste
management
Equipment and Fleet Management and Outsourcing
Solution ranging from fleet size management to the complete management of the service
Light Fleet Management
and Outsourcing
Equipment and Heavy Fleet
Management and Outsourcing
• More than 19,000 leased vehicles in operation
• More than 1,000 leased heavy vehicles
• Lease with and without services
in operation
• More than 2,000 leased pieces of
machinery and equipment in operation
Gross Revenue from
Fleet Magament and *
Outsourcing
R$637 million
LTM revenue
• Proforma Schio + JSL Gross Revenue from Services in the last 12 months
¹ 2Q12 base date
CAGR 08-11: +27%
2,577 Employees¹
22,374 Operational Assets¹
*
Management and Outsourcing of fleets with service
*
Exemple: Laboratory
2. Transportation
of biological materials
to hospitals, clinics and
laboratories
3. Residential pick-up
of medical exams
with car and driver
1.Transportation
of materials
from warehouse to
laboratory
* Gross Revenue from Services
of JSL + Schio Proforma last 12
months
4. Rental
of vehicles
for sales
force
5.Transportation
of client’s
operational
equipment
Tracking of
the fleet via
satellite
Passenger Transportation
*
Correlation diversification strategy
Charter Services
• Corporate (Permanent
Charter) and Tourism
Passenger Chartering
Gross Revenue from
Passenger *
Transportation
R$ 351 million
Urban
Transportation
• Municipal and intercity
urban lines
CAGR 11-08: +14.9%
Gross revenue in the last 12 months
* Pro-forma Gross Revenue from Services of JSL + Schio in the last 12 months
¹ Reference date 2Q12
3,165 Employees¹
1,072 Operating Assets¹
General Cargo
*
Services for clients who present high variation in volume
Information specification and management
General Cargo
Transportation
• Closed cargo transportation operations from point A to point B
• More than 95% transported by independent contractors and third
•
•
•
•
•
Gross Revenue
from General*
Cargo
parties
High seasonality within the month/year
Physical and human resources non-exclusive to a client/operation
Average cycles without guaranteed counter-flow
Expertise in the hiring of third parties/independent contractors
Contracts with reduced terms
R$ 247 million
CAGR 08-11: +7,2%
Gross revenue in the last 12 months
* Pro-forma Gross Revenue from Services of JSL + Schio in the last 12 months
¹ Reference date 2Q12
292 Employees¹
728 Operating Assets¹
Dedicated structure to each operation
*
Management Structure
Chief Operations Officer
Adriano Thiele
Business Development
Management
Mining
Forestry
Sugar and Ethanol
Management
and Outsourcing
Passanger
Transportation
MAIN LINK WITH CLIENTS (SINGLE CHANNEL)
• Ensures culture
• Captures synergies
• Identification and implementation of the best internal
and market practices
Manager by
Client
Support areas:
Maintenance, HSE and
Personnel
Waste Manager
Fleet Outsourcing
Manager
Charting Manager
Mine handling
Manager
Quest for continuous improvement,
generating new business and perpetuating
customer relationship
Adriano Thiele
Case: Vale
Optimization of passenger transportation routes
Current Operation
•
168 Administrative Buses
and Shifts
•
Daily transportation of
6,300 employees
Improvement Project
• Optimization/Redefining of routes
• Reduced mileage
• Increased occupancy rate of vehicles
• Reduced number of vehicles
• Use of Simulation Software
• Improvements shared with clients on
a 50%/50% basis
Methodology
Occupancy Rate
Chart Occupancy Rate – Monthly Analysis
Methodology
% Cumulative
Number of occurrences
Chart Occupancy Rate – Daily Analysis
Number of passengers
Historical 28 days
OP34 route
Methodology
Routes
Preliminary Results
Preliminary simulation
results
ADMINISTRATIVE CONTRACT - IRON/MANGANESE:
• 38 buses – daily transportation of 1,521 people
• Reduction of 2 buses (5.2% of total) due to the lower
number of vehicles after passing the gateway
• Higher vehicle occupancy rate
Current scenarios
• Redefining of routes due to the occupancy
rate - 6,300 pickup points
• Impact from adoption of equipment with
higher number of seats
• Replicating the model developed for other
mines
• Reduced number of pickup points
Operations in numbers
Total Gross Revenue from Services*
R$ 2.8 billion
18.2 thousand Employees¹
31.3 thousand operating Assets¹
139 branches
* Gross Revenue from Services JSL + Schio Proforma last 12 months
¹ Base date 2T12
Pricing, Monitoring
and Capital Structure
Denys Marc Ferrez
Administrative Structure
• Executive Officers
• Procurement
• Asset Management
• Legal Department
• New Businesses
• Customer Services
• Investor Relations
• Financial Services
• Controllership
• Projects
• Communication and Marketing
• Cargo/Dedicated Services
Operations
• Electronic means of payment
• Fleet Outsourcing and
Management
• Information Technology
• Schio
• Dealerships
YOU
ARE
HERE!
• HSE
• Medical Department
• Personnel Department
• Recruiting and Selection
• Cafeteria
Contract Pricing
Pricing tables
Contract Pricing
Sizing
DIMENSIONAMENTO
Ano
Volume (ton/ano)
Período contrato (meses)
Período safra (meses)
Período safra (dias)
Período de paralisações (%)
Período de paralisações (dias/ano)
Período produtivo (dias/ano)
Período produtivo (dias/mês)
Volume (ton/mês)
Volume (ton/dia)
Operação
Equipamento 1
Produção (ton/hr/equipamento)
DF - Disponibilidade física
DO - Disponibilidade operacional
DO + DF
Produtividade (hr/mês)
Produtividade (hr/dia)
Produção (ton/dia/equipamento)
Total de equipamento 1 (qtd)
Operação
Equipamento 1
Equipamento 2
Produção (ton/hr/equipamento)
DF - Disponibilidade física
DO - Disponibilidade operacional
DO + DF
Produtividade (hr/mês)
Produtividade (hr/dia)
Produção (ton/dia/equipamento)
Total de equipamento 1 (qtd)
Total de equipamento 2 (qtd)
Operação
Equipamento 1
Equipamento 2
Produção (ton/viagem)
DF - Disponibilidade física
DO - Disponibilidade operacional
DO + DF
Produtividade (hr/mês)
Produtividade (hr/dia)
Distancia média (km ida e volta)
Tempo carga (hr)
Tempo descarga (hr)
Velocidade (km/hr)
Produção (viagem/dia/equipamento)
Produção (ton/dia/equipamento)
Produção (km/mês/equipamento 1)
Produção (km/mês/equipamento 2)
Total de equipamento 1 (qtd)
Total de equipamento 2 (qtd)
2011
333.333
1
1
30
20%
6
24
24
333.333
13.889
Colheita
colhedora
40
90%
85%
77%
441
18,36
734,4
19
Transbordo
trator
transbordo
20
90%
85%
77%
441
18,36
367,2
38
76
Transporte
cavalo
rodotrem
60
90%
85%
77%
441
18,36
62,5
0,5
0,5
35
7
395
9886
4943
36
72
2012
2.000.000
12
6
180
20%
36
144
24
333.333
13.889
Colheita
colhedora
40
90%
85%
77%
441
18,36
734,4
19
Transbordo
trator
transbordo
20
90%
85%
77%
441
18,36
367,2
38
76
Transporte
cavalo
rodotrem
60
90%
85%
77%
441
18,36
62,5
0,5
0,5
35
7
395
9886
4943
36
72
2013
2.000.000
12
6
180
20%
36
144
24
333.333
13.889
Colheita
colhedora
40
90%
85%
77%
441
18,36
734,4
19
Transbordo
trator
transbordo
20
90%
85%
77%
441
18,36
367,2
38
76
Transporte
cavalo
rodotrem
60
90%
85%
77%
441
18,36
62,5
0,5
0,5
35
7
395
9886
4943
36
72
2014
2.000.000
12
6
180
20%
36
144
24
333.333
13.889
Colheita
colhedora
40
90%
85%
77%
441
18,36
734,4
19
Transbordo
trator
transbordo
20
90%
85%
77%
441
18,36
367,2
38
76
Transporte
cavalo
rodotrem
60
90%
85%
77%
441
18,36
62,5
0,5
0,5
35
7
395
9886
4943
36
72
2015
2.000.000
6
6
180
20%
36
144
24
333.333
13.889
Colheita
colhedora
40
90%
85%
77%
441
18,36
734,4
19
Transbordo
trator
transbordo
20
90%
85%
77%
441
18,36
367,2
38
76
Transporte
cavalo
rodotrem
60
90%
85%
77%
441
18,36
62,5
0,5
0,5
35
7
395
9886
4943
36
72
TOTAL
8.333.333
43
25
174
20%
35
139
24
333.333
13.889
Colheita
colhedora
40
90%
85%
77%
441
18,36
734,4
19
Transbordo
trator
transbordo
20
90%
85%
77%
441
18,36
367,2
38
76
Transporte
cavalo
rodotrem
60
90%
85%
77%
441
18,36
62,5
0,5
0,5
35
7
395
9886
4943
36
72
Contract Pricing
Assumptions
BDI FIXO
Bonificações / Despesas Indiretas / Impostos
Taxa de Custos Diretos
Taxa de Custos Indiretos
Taxa de Lucro
Alíquota de IR (s/ lucro)
Alíquota de Contribuição Social (s/ lucro)
Alíquota de PIS / COFINS / ISS
Total
s/ Custo
29,42%
10,13%
25,00%
9,00%
13,31%
Parâmetros
Diesel (litro)
Taxa de Remuneração sobre o Ativo Fixo (% a.a.)
Taxa de Remuneração sobre o Ativo Fixo (% a.m.)
Período de Contrato (meses)
Período de Amortização (meses de safra)
Período de Rateio (meses / ano)
Seguro Contra Terceiro Veículos (mês)
Seguro Contra Terceiro Máquinas (mês)
Computador de Bordo Equipamento + Comunicação (mês)
Licenciamento + Seguro Obrigatório + IPVA (% v.v. a.a.)
Reserva Técnica Mão de Obra Direta
Reserva Técnica Mão de Obra Indireta
Fator de Sinistralidade
Fator de Manutenção Veiculos (% v.v. / 1.000.000 km)
Fator de Manutenção Maquinas (% v.m. / 43.200 km)
Fator de Remuneração de Estoque
R$ 2,0000
12,00%
0,94888%
43
25
6
R$ 250,00
R$ 383,33
R$ 437,16
2,00%
10,00%
5,00%
1,00%
150,00%
250,00%
1,50%
s/ Preço
17,35%
7,73%
1,93%
0,70%
13,31%
41,02%
R$ 6.054.296,14
R$ 1.781.095,90
R$
793.725,21
R$
198.431,30
R$
71.435,27
R$ 1.365.797,17
R$ 10.264.780,99
BDI VARIÁVEL
s/ Custo
0,00%
10,13%
25,00%
9,00%
7,81%
s/ Preço
0,00%
8,22%
2,06%
0,74%
7,81%
18,83%
BDI TOTAL
R$ 3.422.212,65 s/ Custo s/ Preço R$ 9.476.508,79
R$
18,79% 12,30% R$ 1.781.095,90
R$
346.670,14 10,13% 7,88% R$ 1.140.395,35
R$
86.667,54 25,00% 1,97% R$
285.098,84
R$
31.200,31 9,00% 0,71% R$
102.635,58
R$
329.348,50 11,71% 11,71% R$ 1.695.145,67
R$ 4.216.099,14
34,56% R$ 14.480.880,13
Contract Pricing
Calculation spreadsheet
Custo Fixo
Equipamento
Investimento
Custo Variável
Residual
Mão de Obra
Qtd.
FIX
Operação
COLHEITA
Fator RT
Fator
DF/DO
Hr - Km
Prod. /
Mês
Tipo
Marca
Equip.
Acess.
Total
Colhedora de esteira
John Deere 3520
19
11%
76,50%
441 hr
R$
800.000,00
R$
-
R$
Trator 185 cv
John Deere 7185
38
21%
76,50%
441 hr
R$
200.000,00
R$
-
R$
Transbordo 10,5 ton
Saltal VT10
76
11%
76,50%
441 hr
R$
80.000,00
R$
-
R$
Cavalo 6x4 420 cv com ar condicionado
Scania G420
36
19%
76,50%
9.886 km
R$
300.000,00
R$
-
Custo de
Propriedade
(RC + DP)
Seguro Contra
Terceiro
Computador de
Bordo
Fator de
Sinistralidade
Documentação (IPVA
+ DPVAT + Licenc.)
Peças de Reposição
Indiretos
Qtd./
Eqpto.
Total
Lubrificante /
Lavagem
Custo
Pneus / Esteiras
Combustível
Impostos
(IR/CS)
Lucro
Total
Custo /
Hr - Km
Custo /
Mês
Custo /
Mês
Preço
Unitário
Mensal
Impostos
(PIS/COFINS/ISS)
Custo /
Mês
Equip.
Acess.
Total
Consumo (lt/hr - km/lt)
800.000,00
30%
0%
30%
R$
30.900,84
R$
423,68
R$
483,18
R$
736,84
R$
-
4
R$
59.788,74
R$
27.163,26
R$
119.496,55
R$
5.600,42
R$
46,30
R$
20.400,00
R$
6.381,68
40 lt/hr
R$
35.251,20
R$
67.633,30
R$
18.956,25
R$
6.445,13
R$
28.177,61
R$
240.708,83
200.000,00
30%
0%
30%
R$
8.460,94
R$
464,04
R$
529,20
R$
201,75
R$
-
4
R$
27.035,26
R$
10.794,08
R$
47.485,27
R$
2.572,21
R$
11,57
R$
5.100,00
R$
581,64
12 lt/hr
R$
10.575,36
R$
18.829,21
R$
6.717,66
R$
2.284,00
R$
9.985,49
R$
85.301,63
80.000,00
30%
0%
30%
R$
3.090,08
R$
423,68
R$
483,18
R$
73,68
R$
-
0
R$
1.197,53
R$
5.268,16
R$
4,63
R$
2.040,00
R$
387,76
0 lt/hr
R$
2.427,76
R$
779,60
R$
265,06
R$
1.158,84
R$
9.899,42
R$
300.000,00
40%
0%
40%
R$
11.226,86
R$
298,61
R$
522,17
R$
298,61
R$
11.936,92
R$
52.512,87
R$
0,45
R$
4.448,90
R$
2.416,68
1,2 km/lt
R$
24.079,12
R$
7.758,77
R$
2.637,98
R$
11.533,06
R$
98.521,80
TRANSBORDO
R$
1.194,44
4
R$
R$
-
27.035,26
R$
R$
-
736,14
R$
R$
-
16.477,40
TRANSPORTE
Rodotrem Canavieiro de 12,5m
Rodolinea
72
8%
76,50%
4.943 km
R$
220.000,00
R$
220.000,00
40%
0%
40%
R$
7.467,17
R$
270,83
R$
473,59
R$
198,61
R$
794,44
0
R$
2.707,89
R$
11.912,54
R$
0,33
R$
1.631,26
R$
2.900,02
0,0 km/lt
R$
4.531,28
R$
1.665,76
R$
566,36
R$
2.476,08
R$
21.152,02
Caminhão Comboio Abastecimento 9.000l
VW 26260 / Gascom
4
25%
76,50%
2.400 km
R$
185.000,00
R$
80.000,00
R$
265.000,00
50%
10%
38%
R$
10.626,96
R$
312,50
R$
546,46
R$
276,04
R$
1.104,17
4
R$
29.572,87
R$
12.485,00
R$
54.924,00
R$
281,60
R$
0,40
R$
954,00
R$
528,00
2,5 km/lt
R$
1.920,00
R$
3.683,60
R$
5.936,95
R$
2.018,56
R$
8.825,00
R$
75.388,11
Caminhão Bombeiro 15.000l
VW 26260 / Gascom
4
25%
76,50%
2.400 km
R$
185.000,00
R$
90.000,00
R$
275.000,00
50%
10%
37%
R$
11.154,22
R$
312,50
R$
546,46
R$
286,46
R$
1.145,83
4
R$
25.311,69
R$
11.401,86
R$
50.159,02
R$
281,60
R$
0,41
R$
990,00
R$
528,00
2,5 km/lt
R$
1.920,00
R$
3.719,60
R$
5.457,90
R$
1.855,69
R$
8.112,92
R$
69.305,13
Caminhão Oficina
VW 26260 / Gascom
4
25%
76,50%
2.400 km
R$
185.000,00
R$
60.000,00
R$
245.000,00
50%
10%
40%
R$
9.572,44
R$
312,50
R$
546,46
R$
255,21
R$
1.020,83
4
R$
25.311,69
R$
10.890,55
R$
47.909,69
R$
281,60
R$
0,37
R$
882,00
R$
528,00
2,5 km/lt
R$
1.920,00
R$
3.611,60
R$
5.219,11
R$
1.774,50
R$
7.757,96
R$
66.272,86
Total
253
13%
R$ 58.660.000,00
35%
10%
35%
R$ 2.210.695,59
R$
91.883,33
R$ 125.466,21
R$
55.587,50
R$
113.283,33
R$
1.025.355,17
R$
474.962,70
R$
1.687.862,74
R$
3.422.212,65
R$
1.140.395,35
R$
387.734,42
R$
1.695.145,67
Total Máquinas
133
441 hr
R$ 28.880.000,00
Total Veículos
120
3.206 km
R$ 28.860.000,00
APOIO
Operação
Tipo
Marca
COLHEITA
Colhedora de esteira
John Deere 3520
TRANSBORDO
FIX
19
RT
2
R$ 57.740.000,00
TT
21
Trator 185 cv
John Deere 7185
38
8
46
Transbordo 10,5 ton
Saltal VT10
76
8
84
Cavalo 6x4 420 cv com ar condicionado
Scania G420
36
7
43
Rodotrem Canavieiro de 12,5m
Rodolinea
72
6
78
Caminhão Comboio Abastecimento 9.000l
VW 26260 / Gascom
4
1
5
Caminhão Bombeiro 15.000l
VW 26260 / Gascom
4
1
5
Caminhão Oficina
VW 26260 / Gascom
TRANSPORTE
APOIO
Total
4
1
5
253
34
287
R$
-
R$ 920.000,00
R$
-
R$ 920.000,00
R$ 28.880.000,00
R$ 1.143.478,18
R$
57.883,33
R$
66.011,84
R$
27.266,67
R$ 29.780.000,00
R$ 1.067.217,41
R$
34.000,00
R$
59.454,37
R$
28.320,83
R$
R$
-
113.283,33
420
R$
-
R$ 3.457.380,17
R$ 1.781.095,90
R$ 7.835.392,04
R$
-
R$ 234.032,04
R$
-
R$ 14.480.880,13
R$ 2.163.325,85
R$ 1.017.288,99
R$ 4.475.254,86
R$ 204.151,84
R$ 1.671,30
R$
736.440,00
R$
172.824,48
R$
1.071.636,48
R$
2.185.052,80
R$
674.689,17
R$
229.394,32
R$
1.002.894,66
R$
8.567.285,80
R$ 1.294.054,32
R$
R$ 3.360.137,18
R$
R$
R$
288.915,17
R$
302.138,22
R$
616.226,26
R$
1.237.159,85
R$
465.706,19
R$
158.340,10
R$
692.251,00
R$
5.913.594,33
763.806,91
29.880,20
44,67
Contract Pricing
Cash Flow
Mobilization
period
Ramp-up of revenue
and maturity
Sale of assets
excluding
renewal
Premises
• Amortization term: 36 months
• Residual value from asset sales:
35.0%
• Investment: R$66.5 million
• Technical reserve: 10.00%
Return
Nominal
Delev. IRR
(p.a.)
EBITDA
margin
• 18.8%
• 26.2%
Cash flow of a project
Generic cash flow – Dedicated Services – term of 36 months
IMPLANTATION
RAMP-UP
MATURITY
SHUTDOWN
minimum IRR of 15%
(nominal unleveraged)
ASSET ACQUISITION
Venda do
ATIVO
10% Cash
90% FINAME
0
1
2
3
4
5
6
7
8
9
10
11
12
30
31
32
33
34
35
36
37
Meeting Results – Managerial Indicators
Assessment for each operation
Meses
Anteriores
Mês
Qt.
Fatur.
14856
Faturamento/ Investido
Fat./Carro
19.745.255
4,77%
Início do Contrato
1.329
Mês/Ano
Julho
1.342
Mês/Ano
Meses
Anteriores
Mês
Junho
1.272
Mês/Ano
Ultimos Reajustes
Indice
Km
comentários
em 000
Veiculo Modelo
Km/Veic.
160.374.846
Julho
Junho
Maio
Abril
Junho
74
64
Manutençã
o por
veículo
Proximo Reajuste
Mês
Julho
Indice
Agosto
Acumulado
Agosto
Julho
10.795
R$ 177,23
R$ 171,69
Média 2012
Média 2011
659,77
2012
F. Pagto
959,98
987,62
906,72
826,68
876,04
6.776,50
847,06
Salários
489,62
525,44
462,25
420,45
435,40
3.536,19
442,02
341,15
Encargos Sociais
324,78
331,40
329,37
287,61
263,18
2.219,01
277,38
214,21
Benefícios
145,57
130,77
115,09
118,63
177,46
1.021,30
127,66
104,41
Numero de Funcionários
312,00
313,00
284,00
273,00
272,00
Desp. Gerais
754,84
953,52
731,09
739,20
947,05
6.403,58
800,45
350,02
1.714,81
1.941,15
1.637,81
1.565,88
1.823,09
13.180,08
1.647,51
1.009,80
14.072,53
13.741,72
13.325,31
13.092,32
12.084,76
100.194,02
12.524,25
8.550,57
344,28
679,34
510,14
515,01
682,46
4.652,87
581,61
459,49
Total Despesas
16.131,62
16.362,21
15.473,26
15.173,22
14.590,31
118.026,98
14.753,37
10.019,85
Gestão
19.745,25
19.917,41
18.697,01
19.772,09
17.932,32
147.108,77
18.388,60
11.110,22
1.138,56
1.102,92
491,13
753,22
617,94
5.802,89
725,36
545,33
Reembolso Multas
65,48
62,43
58,16
136,68
520,25
1.224,93
153,12
112,47
Reembolso Sublocação
59,45
78,45
73,33
50,66
29,77
373,33
46,67
50,32
21.008,75
21.161,22
19.319,64
20.712,65
19.100,28
154.509,92
19.313,74
11.818,34
Total Desp. Filial
Despesas Operacionais
Despesas Administrativas Local
Reembolso Avarias
Faturamento Bruto
Descontos e Abatimentos
217,73
224,15
(516,83)
251,16
391,33
1.128,07
141,01
108,50
Impostos (PIS / COFINS / ISS)
434,83
432,19
397,76
421,06
379,86
3.134,72
391,84
241,97
20.356,19
20.504,88
19.438,71
20.040,42
18.329,09
150.247,12
18.780,89
11.467,86
4.224,57
4.142,67
3.965,45
4.867,21
3.738,78
32.220,14
4.027,52
1.448,01
Faturamento Líquido
Resultado Oper.
%
20,11%
19,58%
20,53%
23,50%
19,57%
20,85%
20,85%
12,25%
Despesas Administrativas Matriz
2.026,44
1.794,71
1.558,74
1.570,52
2.276,03
13.481,62
1.685,20
945,48
Resultado Liquido
2.198,14
2.347,95
2.406,71
3.296,69
1.462,75
18.738,52
2.342,32
502,53
%
Ebitda
Ebitda %
10,46%
10.410,55
50,60%
11,10%
10.689,33
51,57%
12,46%
10.611,77
56,08%
15,92%
11.541,02
56,88%
7,66%
9.467,15
50,57%
12,13%
82.534,79
54,52%
12,13%
10.316,85
54,52%
4,25%
5.406,64
46,70%
More than 500
cost centers
Meeting Results – Financial Indicators
Monthly financial assessment for each operation
Meeting Results – Operational Indicators
Monthly operational assessment for each operation
RESUMO GESTÃO E TERCEIRIZAÇÃO DE CAMINHÕES PRIVADOS
11
INDICADORES OPERACIONAIS
Faturamento Bruto
R$
Por Veículo
Custos e Despesas Operacionais
Alocadas Matriz
R$
acumulado
12
Mai 2012
Total
Gestão
Reembolso Avarias
Reembolso Multas
Reembolso Sublocação
Jun 2012
Média 2012
Previsto
0
Realizado
4.172.424
3.936.316
84.521
151.586
Por Veíc.
4.172.424
Previsto
0
Realizado
4.940.266
4.398.043
491.125
51.098
Por Veíc.
4.940.266
Previsto
0
Realizado
4.646.686
3.557.390
146.125
251.659
0
Por Veíc.
4.281
3.278
135
232
0
Previsto
0
0
Realizado
3.788.989
3.460
Diferença
3.788.989
3.460
Previsto
0
0
Realizado
3.993.781
3.303
Diferença
3.993.781
3.303
Média Previsto
Média Real
0
0
3.800.338
3.501
Diferença
3.800.338
3.501
Total Mês
% Repres. / Fat.
Total Mês
% Repres. / Fat.
Total Mês
% Repres. / Fat.
463.690
11,11%
537.956
10,89%
535.981
11,53%
Total Mês
% Repres. / Fat.
% Repres. /C.D.O.
Total Mês
% Repres. / Fat.
% Repres. /C.D.O.
Total Mês
% Repres. / Fat.
168.763
4,04%
4,45%
197.095
3,99%
4,94%
208.430
4,49%
5,48%
% Repres. /C.D.O.
% Repres. /C.D.O.
Alocadas Local
R$
Total Mês
% Repres. / Fat.
% Repres. /C.D.O.
Total Mês
% Repres. / Fat.
% Repres. /C.D.O.
Total Mês
% Repres. / Fat.
Impostos
R$
79.726
1,91%
2,10%
96.229
1,95%
2,41%
86.394
1,86%
Total Mês
% Repres. / Fat.
% Repres. /C.D.O.
Total Mês
% Repres. / Fat.
% Repres. /C.D.O.
Total Mês
% Repres. / Fat.
% Repres. /C.D.O.
Depreciação e Remuneração De Capital
R$
2.299.016
55,10%
60,68%
2.436.229
49,31%
61,00%
2.179.136
46,90%
57,34%
Implantação
Quant.
Implantação
Total
Desmobilização Cliente até o Pátio
Total
Veículos
Total
Média Dias Ag. Fat.
Média Dias Pós Fat.
Total Dias
Quant.
22,0
100,0
122,0
39
113
Desmobilização
Média Dias Ag. Fat.
Média Dias Pós Fat.
Total Dias
Quant.
17,0
102,0
119,0
58
Quant.
Média Dias
Quant.
Média Dias
15
0,5
2
5,0
Total Mês
Km Rodado
Total
Combustível - R$
R$
Pneus (novos, recapados, consertos e nitrogênio)
R$
Peças
R$
Manutenção (máquinas, equip., veículos, lubrificantes e serviços)
R$
Lubrificantes
R$
Manuseio de Cargas
R$
Total de Manutenção
R$
Manutenção
R$
Total Mês
5.403.227
4.469
3.821.426
3.521
R$ / Km
% Repres. /C.D.O.
Total Mês
R$ / Veíc. Equip.
R$ / Km
% Repres. /C.D.O.
Total Mês
R$ / Veíc. Equip.
R$ / Km
-0,25
-0,00
-0,01%
905
0,75
0,00
0,02%
524
0,48
0,00
0,01%
Total Mês
R$ / Veíc. Equip.
R$ / Km
% Repres. /C.D.O.
Total Mês
R$ / Veíc. Equip.
R$ / Km
% Repres. /C.D.O.
Total Mês
R$ / Veíc. Equip.
R$ / Km
% Repres. /C.D.O.
119.437
109,07
0,02
3,15%
78.549
64,97
0,01
1,97%
86.355
79,56
0,02
2,27%
Total Mês
R$ / Veíc. Equip.
R$ / Km
% Repres. /C.D.O.
Total Mês
R$ / Veíc. Equip.
R$ / Km
% Repres. /C.D.O.
Total Mês
R$ / Veíc. Equip.
R$ / Km
% Repres. /C.D.O.
199.928
182,58
0,03
5,28%
212.659
175,90
0,04
5,32%
217.467
200,36
0,06
5,72%
Total Mês
R$ / Veíc. Equip.
R$ / Km
% Repres. /C.D.O.
Total Mês
R$ / Veíc. Equip.
R$ / Km
% Repres. /C.D.O.
Total Mês
R$ / Veíc. Equip.
R$ / Km
% Repres. /C.D.O.
174.681
159,53
0,03
4,61%
129.576
107,18
0,02
3,24%
162.785
149,98
0,04
4,28%
Total Mês
R$ / Veíc. Equip.
R$ / Km
% Repres. /C.D.O.
Total Mês
R$ / Veíc. Equip.
R$ / Km
% Repres. /C.D.O.
Total Mês
R$ / Veíc. Equip.
R$ / Km
% Repres. /C.D.O.
21.469
19,61
0,00
0,57%
25.126
20,78
0,00
0,63%
25.789
23,76
0,01
0,68%
Total Mês
R$ / Veíc. Equip.
R$ / Km
% Repres. /C.D.O.
Total Mês
R$ / Veíc. Equip.
R$ / Km
% Repres. /C.D.O.
Total Mês
R$ / Veíc. Equip.
R$ / Km
% Repres. /C.D.O.
5.952
5,44
0,00
0,16%
26.677
22,07
0,00
0,67%
10.993
10,13
0,00
0,29%
Total Mês
R$ / Veíc. Equip.
R$ / Km
% Repres. /C.D.O.
Total Mês
R$ / Veíc. Equip.
R$ / Km
% Repres. /C.D.O.
Total Mês
R$ / Veíc. Equip.
R$ / Km
% Repres. /C.D.O.
521.468
476,23
0,08
13,76%
472.588
390,89
0,09
11,83%
503.389
463,79
0,13
13,25%
Idade Média
Quant. Veíc.
Ticket Médio
Total Mês
Idade Média
Quant. Veíc.
Ticket Médio
Total Mês
Idade Média
Quant. Veíc.
Ticket Médio
520.625
17
1.083
480,72
Diárias
470.586
R$ / Diária
0
18
Total Mês
#DIV/0!
Total Evento
1.209
389,24
Diárias
458.707
R$ / Diária
0
Total Evento
% Repres. /C.D.O.
1.057
Total Mês
#DIV/0!
Ticket Médio Diárias Por Evento
#DIV/0!
433,97
Diárias
R$ / Diária
0
#DIV/0!
Ticket Médio Diárias Por Evento
#DIV/0!
Total Evento
#DIV/0!
Total Mês
Pagto / Veículo
% de Reembolso /
Pagamento
Total Mês
Pagto / Veículo
% de Reembolso /
Pagamento
Total Mês
Pagto / Veículo
Pagamento
43.526
0,36
1,15%
40.535
0,52
1,01%
46.392
0,54
Reembolso
84.521
0,71
2,23%
117.061
1,49
2,93%
223.437
2,59
Saldo
40.996
0,34
194,19%
76.526
0,97
288,79%
177.045
2,05
481,63%
Total Mês
Reemb / Veículo
% Repres. / Fat.
Total Mês
Reemb / Veículo
% Repres. / Fat.
Total Mês
Reemb / Veículo
% Repres. / Fat.
AVARIAS / MULTAS
1,71
204.677
8,28%
263.180
3,05
Reembolso
136.365
1,14
3,27%
66.862
0,85
1,35%
296.528
3,43
Saldo
-68.313
-0,57
66,62%
-342.276
-4,36
16,34%
33.349
0,39
112,67%
Total Mês
% de Saldo / Pagamento
Total Mês
% de Saldo / Pagamento
Total Mês
Saldo / Veículo
% de Reembolso /
Pagamento
-161.152
4,91%
409.138
-370,25%
5,21
% de Reembolso /
Pagamento
Pagamento
Pagamento
-368.603
-909,35%
309.571
3,58
Reembolso
-51.843
-61,34%
50.200
42,88%
519.965
6,02
Saldo
-212.995
-519,55%
-318.403
-416,07%
210.394
2,44
167,96%
R$ / Total Colab.
% Repres. / F.P.
Nº Colaboradores
Admisnistrativos da filial
Tráfego
Total
Folha De Pagamento
Km / Veic.
5.769
Ticket Médio Diárias Por Evento
Horas Extras e Número De Colaboradores
1.085
Total Mês
R$ / Veíc. Equip.
R$
Avarias + Multas
Total Mês
Km / Veic.
-277
Ticket Médio Diárias Por Evento
Multas
186,4
Média Dias
Total Mês
Total Mês
Avarias
Total Dias
140,1
6.316.857
Sublocação
Locação (sub-locação)
Média Dias Pós Fat.
46,3
1.209
Km / Veic.
Total Mês
Total de Manutenção
Média Dias Ag. Fat.
Quant.
Total Mês
1.095
Total Mês
2,27%
R$
% Repres. / F.P.
Nº Colaboradores
% Repres. / F.P.
Nº Colaboradores
H.E. (R$)
11
0
0
0,00%
10
0
0
0,00%
11
64
6
0,16%
1
H.E. (R$)
0
R$ / Total Colab.
0
0,00%
1
H.E. (R$)
0
R$ / Total Colab.
0
0,00%
1
0
0
0,00%
12
0
0
0,00%
11
0
0
0,00%
12
64
6
0,16%
Total Folha de Pagamento
Folha / Colab.
Indenizações
Total Folha de Pagamento
Folha / Colab.
Indenizações
Total Folha de Pagamento
Folha / Colab.
Indenizações
43.296
3.608
0
40.239
3.658
0
41.209
3.545
215
Return of operations
Operations with
12 or more
months of
Revenue
Other Operations
(with less than 12
months of
Revenue)
Other Operations
(with less than 12
months of
Revenue)
ROIC LTM 06/30/2012
(R$ million)
Total
Net Revenue
2,722.7
2,271.0
451.7
1,150.5
3,421.5
EBIT
301.6
333.5
(32.0)
169.0
502.5
EBIT Margin
11.1%
14.7%
-7.1%
14.7%
14.7%
211.1
233.5
(22.4)
118.3
351.8
2,493.6
1,655.1
838.5
838.5
2,493.6
8.5%
14.1%
-2.7%
14.1%
14.1%
553.6
20.3%
510.5
22.5%
43.1
9.5%
258.7
22.5%
769.2
22.5%
Recurring Net Profit
95.3
175.0
(82.0)
58.6
233.6
Recurring Net Profit Margin
3.5%
7.7%
-18.2%
5.1%
6.8%
2,096.5
2.5
981.1
1.4
1,115.4
9.0
1,115.4
3.3
2,096.5
2.0
0.44
0.81
n.a.
0.27
1.08
10.70
10.70
10.70
10.70
10.70
24.3
8.0
13.3
6.5
n.a.
n.a.
39.6
13.3
9.9
5.7
11.3%
20.8%
n.a.
n.a.
27.6%
(=) Net Operating Profit less Taxes
(NOPLAT) - 1
(=) Invested Capital - 2
ROIC - 1/2
Recurring EBITDA
Recurring EBITDA Margin
Net Debt
Net Debt/EBITDA-A
Earnings per Share
Share Price (09/14/2012)
P/E
EV/EBITDA LTM
ROE
Total
Disregarding the growth, realizes strong cash generation
over companies’ EV
Free Cash Flow before
expansion capex
2008
2009 2010 2011
LTM
(06/30/12)
Recurring EBITDA1
220
234
330
435
574
Non-cash Cost of Sales of Assets2
85
134
223
284
284
(16)
(76)
Taxes + Working Capital
(180) (195)
Flexibility in the management
of Renewal Capex due to the
low average asset age
(129)
Cash flow without growth
Operationg Cash Flow
290
Renewal Capex3
(94)
Cash Generated before expansion capex
196
Leverage ratios would be
reduced to 1.7x Net Debt /
EBITDA-A and 2.5x Net
Debt/EBITDA
=
292
373
524
(148) (158) (216)
144
214
308
730
(203)
527
Deleveraging of
approximately
30%
Expansion Capex3
(402) (108) (641)
(645)
Free Cash Flow to Firm
(206)
(337)
36
(427)
Guaranteed return on
investments based on
executed contracts. Flexibility
in the management of
addition of new contracts
Growth dynamics
¹Recurring EBITDA – without non-recurring expenses
²Includes only the non-cash cost of the usual resale of assets
³Considers total Capex, the amount effectively paid with the Company’s cash, plus the financed position
JSL has a solid capital structure to support its
strong growth
Net Debt composition
546
2,643
Aprox. 50%
2,096
Corporate Debt
794
1,058
Not mature contracts
300 - Schio Acquisition
1,549
Operational funding
(Assets Acquisition)
74%
GROSS DEBT
CASH AND INVESTMENTS
2Q12
PROFORMA ⁴
COVENANTS
2,4x
≤ 3,0x
4,4x
≥ 2,0x
Fixed Assets³/ Net Debt¹
1,3x
N.A.
Cash and Investments¹/Gross Debt CP¹
1,1x
N.A.
Net Debt¹/ EBITDA-A² *
EBITDA-A²/ Net Interest ² **
¹End of period;
²Last 12 months
NET DEBT
• Average net debt cost is falling, reaching 9.9% in 2Q12, due
to CDI and Finame PSI rate reduction .
• 74% of net debt is linked to operational assets
• 65% of net debt is linked to TJLP/PRE and 35% to CDI
Leveraging Parameters
1,038
Mature contracts
• Leverage levels that allow the Company to continue
growing prudently
³Fixed assets + Receivables and installment sales of Inventories (Sale of Assets with Management/CPC 06)
+ Used vehicles
⁴JSL e Schio last 12 months
*Net Debt¹/EBITDA² is at 3,7x
**EBITDA²/Net Interest² is at 3,0x
Base date: 30/06/2012
Moreover, JSL has flexibility in managing CAPEX due
to low average age of fleet
CAPEX Forecast 2012 (R$ million)
Net Renewal CAPEX
Gross renewal CAPEX
Revenue with resale of assets
Expansion CAPEX
Commited - 2011 new contracts
New contracts signed in 2012 and to be
captured
Others (IT, improvements, etc)
Net CAPEX
1S12R
2012E
(23)
116
(139)
60
420
(360)
289
102
590
130
187
460
29
60
295
710
• Low average age of fleet
• Flexibility to manage the time of renewal
without harming maintenance
• Linked to new contracts
Fleet Evolution (thousands)
• 2.1 years is the current average age of the total
fleet
JSL's initiatives in sustainability projects in
the logistics chain
Irecê A. Rodrigues
Institute
Julio Simões
Institute
Mission
Vision
The Julio Simões Institute was created in 2006 to organize and plan
the execution of JSL’s social initiatives, allocating resources
proportionally to its operational locations.
To promote initiatives and share expertise that
IMPROVES ROAD TRANSPORTATION SAFETY and that
QUALIFIES HUMAN CAPITAL in the logistics sector.
To become a BENCHMARK for good of professional ROAD
TRANSPORTATION SAFETY and SUSTAINABLE DEVELOPMENT
practices .
Social and Cultural Initiatives
Transportation Safety
Pela Vida
Program
Na Mão
Certa
Assistance in
16,177 cases
5,000
drivers
trained
Corporate Volunteering
Julio
Cidadão
Você
quer?
Você
pode!
Assistance in Assistance in
60,900
295
cases
cases
Campaigns
+6,558
items
collected
Network Project
Monitoring of Projects Supported by
Fiscal Incentive Laws
Support to
Institutions –
Monthly
Donations
PROAC
(Cultural
Action
Program) –
State
Program
PIE (Sports
Incentive
Program) –
State
Program
Roaunet
Law –
Federal
Law
9 institutions
supported monthly
16,027
people
benefited
2,456
children and
adolescents
benefited
12,000
To be
launched in
2013
The Julio Simões Institute
has already served more than 95,000 people through its
initiatives since 2007.
Coverage
RR
AP
AM
PA
Pela Vida (For Life)
CE
MA
PI
PE
Monthly Donations Social
AC
AL
TO
RO
BA
MT
Monthly Donations –
Environmental
GO
DF
MG
Campaigns
ES
MS
SP
Projects Supported by
Tax Incentive Laws
PR
SC
RS
RJ
SE
Actions
Desenvolvimento de Novos Projetos / Negócios
Development of New Projects / Businesses
Fábio Velloso
Development of New Projects / Businesses
To develop new projects and businesses in areas / scopes still unexplored by JSL
Projects under
development
• Recycling of materials
• Industrial center
• Logistics center
• 4PL projects
• Highway projects
• Port and retroport projects
• Railway projects
• Projects in the pharmaceutical segment
• Projects in the gas distribution segment
• Projects in the energy segment
Example: Energy Segment (Current Scenario)
FINAL DESTINATION
SUPPLIERS
DISTRIBUTION
CENTERS
Work
Work
Work
Work
Garage
Small Distribution
Centers
58
Example: Energy Segment (Proposed Scenario)
FINAL DESTINATION
SUPPLIERS
Work
Work
CONSOLIDATION
CENTERS
Work
LOGISTICS
CENTER
CONSOLIDATION
CENTERS
Work
Small Distribution
Centers
Example: Pharmaceutical Segment
HOSPITALS
LARGE
PHARMACEUTICAL
CHAINS
PHARMACEUTICAL
INDUSTRY
DISTRIBUTORS
PHARMACIES
Example: Gas Distribution
PLANT
• Liquefaction Plant with capacity for
350 to 400 thousand m³/day of NG;
• Inventory corresponding to at least 7
days of production of LNG.
LOADING
Transport of LNG by
truck and/or
cryogenic railcar.
CNG
GROUND TRANSPORT
WAREHOUSING AND REVAPORIZATION
End Client
PIPELINE
Example: Logistics Center
Truck center
Located at the exit to key
highways
Close to the
railway
Dry warehouse/
with temperature
control
Close to ports
Outdoor
warehousing
Strategies and Actions
Fernando Antonio Simões
Corporate Governance
Shareholders
Other members
of Simões
family
216,799,134 common shares
Fernando
Antônio
Simões
7%
13%
Treasury
Shares
53%
25%
Management
1%
1%
Bloco de controle
Management Structure
Board of Directors
Fiscal
Council
5 members,2 of which are
independent member
Financial and
Procurement
Committe
External
Audit
CEO
3 members, 1 of which is
independent member
• Novo Mercado
• Financial and Procurement
•
•
•
•
•
Committee
PricewaterhouseCoopers
Code of Ethics
Incorporation of dealerships
40% of board of directors is
independent
Guidance delivery
Corporate
Governance
Best Practices
Guidance
Realized
%
2010
300
330
110.0%
2011
400
435
108.8%
Growth JSL x PIB
Net Revenues
(R$ million)
Proven historical growth
2,739.7
2,028.5
1,478.0
1,477.8
2008
2009
1,027.7
593.0
226.0
427.0
499.0
727.0
333.0
2001
2002
2003
2004
2005
2006
Organic
*Proforma
2007
2010
Acquisitions
Source: Company
Elasticity x GDP
CAGR JSL 07-11: +29.7%
6.2 x
CAGR PIB 07-11: +4.8%
15.3 x
7.1x
6.6x
41%
36%
36%
3.3x
6.9 x
25%
3,900.0x
05%
05%
2007
08%
00%
2008
2009
GDP
19%
08%
03%
2010
2011 Reported
Gross Revenue from Services
2011*
03%
FY11 JSL + Schio
History of the Sector
Ranking by net revenue in the road cargo transportation sector
1990
1994
1996
1.TNT
1.TNT
1.Prossegur
2.Dom Vital
2.Tresmaiense
2.Cometa
3.ITD
3.Translor
2000
2002
JSL
1st
1st JSL
1.Mercurio
2nd
2011
2008
2005
2. Mercurio
2. Mercurio
2. Mercurio
2. Tegma
3. Kwikasair
9o
3. Binotto
3. Prossegur
3. Tegma
3. Sada
4.Dom Vital
4.Dom Vital
4. Itapemirim
4. Cometa
4. Cometa
4. Cometa
4. Cometa
5.Atlas
5.Itapemirim
5. Atlas
5. Atlas
5. Protege
5. Sada
5. Braspress
6. Liderbrás
6. Transwilson
6. ITD
6. Tora
6. Kwikasair
6. Binotto
6. Cooper.SC
6. Ramos
7. SEG
7. Cometa
7. Mercurio
7. Cesa
7. Ramos
7. Atlas
7. Ramos
7. Ouro Verde
8. Tropical
8. Liderabras
8. Tora
8. Binotto
8. Ouro Verde
8. Ramos
8. Binotto
8. Atlas
9. Atlas
9. Cesa
9. Itapemirim
9. Atlas
9. Schio
10. Araçatuba
10. Bertolini
10. Ouro
10. Expresso
10. Cooper-
Verde
Araçatuba
Carga
3.Transbraçal
4.Itapemirim
5.Tresmaiense
9. Itaipava
9. Mercurio
10. Atlas
10. Tora
25th
29th
9th
JSL
10. Liderbras
JSL
JSL
Source: The Largest and Best Cargo Transportation Companies - Transporte Moderno Magazine
Many companies have gone out of business or shrunk, due to lack of strategic
planning and management, succession plan and resilience in the business.
New Contracts
Contracts negotiated in 2012
HEAVY
Management
and
outsourcing
LIGHT
Management
and
outsourcing
Consolidated
Dedicated
Services +
Passengers
1,263.2
997.1
229.3
36.8
Term (months)
60
61
60
24
EBTIDA Margin
33.0%
23.1%
76.7%
51.2%
IRR
16.8%
17.7%
15.3%
18.3%
Residual Value
48.0%
47.0%
46.0%
80.0%
Global Revenue (R$
thousand)
+11.4%
Gross Revenue from Services
+34.9%
3,057
115
2,267
696
2,267
2,246
2011R
2012E
3,406
188
3,206
2013E
Note: Although each contract is adjusted according to the inflation of its specific cost structure, to estimate the base of 2012
and 2013 we used the IGP-M index (Source: Bacen).
Criteria for Acquisition
Some points analyzed
•
Entry in segments in which JSL does not have a strong presence
•
Penetration in unique markets with an accelerated growth curve
•
To penetrate into profitable and protected segments with entry
barriers
•
To operate in the sector through a more efficient business model
•
Generate value via economy of scale
•
Operational synergies
•
To enable growth in a structured and systematic manner, with value
generation that is sustainable in the long term
Current Market
Low penetration level
Size of the companies’ fleet
Logistical Expenses
100% = R$ 576 bi
Brazil´s GDP
100% = R$ 2.9 tri
Total of 206 thousand highway transportation
companies
LSP
6%
Others
94%
More than
16 vehicles
5%
6 to 15
vehicles
11%
Source: World Bank - 2008
Fleet Management and Outsourcing
2 to 5
vehicles
36%
1 vehicle
48%
58.3%
% of total fleet
46.9%
37.4%
Average age of Brazil’s truck fleet:
17.6 years
24.5%
16.5%
5.4%
Brasil
Brazil
Alemanha
Germany
França
France
Source: DataMonitor, Unidas
Espanha
Spain
Reino
England
Unido
Holanda
Netherlands
Brazil’s Logistics Market
•
Companies with revenue of up to R$500.0 million
•
Family management
•
Some have made mistakes
•
Disproportional liabilities
•
Clients responsible for civil, labor and tax liabilities
•
Competitive market (need for innovation)
•
Solutions without integration
JSL’s Position
Solid Competitive
Advantages
•
Brazil’s largest service portfolio
•
Cross-selling ability
•
Resilience in business
•
Flexibility in CAPEX management
•
Diversified operations
•
Penetration in sale of assets
•
Geographic presence
•
Scale
•
Entry barriers
•
Administrative/operational
structure
Sustainable Growth
•
Corporate Governance
•
Credibility
•
Committed and integrated staff
•
Succession
•
Differentiated board of directors
THANK YOU