corporate governance

Transcription

corporate governance
CORPORATE
PRESENTATION
Caxias do Sul – September, 2012
DISCLAIMER
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.
OUTLINE
Marcopolo as a Leading Player
Volare Business
Bus Market Overview
Operating & Financial Highlights
Corporate Governance
Sustainability
Marcopolo Corporation
Product Line
MARCOPOLO’S PROFILE
Founded in 1949, Marcopolo has more than 63 years in the business
OVERVIEW
Four factories in Brazil and eight abroad
Over 20,000 employees in Brazil and abroad
33.1% Return On Equity in 2Q12
HIGHLIGHTS
20.5% Return on Invested Capital in 2Q12
Market Value Added oriented Company
State-of-the-art technology
PRODUCTS
Integrated production of nearly all parts used in manufacturing process
Complete product line: coaches, transit buses, midi, micro & minibuses
UNDERSTANDING OUR PRODUCT
BUS BODY
CHASSI
(chassi manufacturers)
VOLARE - COMPLETE VEHICLES
5
STRATEGIC POSITIONING
MARCOPOLO’S TOTAL
PRODUCTION
RUSSIA
(Commercial JV)
2011
= 31,526
2012g
= 32,500
Variation = + 3.1%
CHINA
(components)
MEXICO
2011 = 1,234
2012g = 1,500
EGYPT
2011 = 213
2012g = 300
INDIA
2011 = 6,308
2012g = 8,400
COLOMBIA
2011 = 1,049
2012g =
900
BRAZIL
2011 = 21,189
2012g = 20,000
ARGENTINA
2011 = 1,293
2012g =
700
SOUTH AFRICA
2011 = 240
2012g = 200
AUSTRALIA
2012g = 500
6
g = year-end 2012 expectation according to the guidance reviewed and published on August 6th, 2012.
All figures are related to Marcopolo’s stake in each business.
MARCOPOLO’S PRODUCTION
(Units)
Consolidated Production 2011
+14.3%
31,526
32,500
27,580
21,811
17,807
38%
36%
19,384
39%
38%
39%
37%
64%
62%
63%
61%
61%
62%
2007
2008
2009
2010
2011
2012 E
Domestic Market
External Market
*E = expected
7
MARCOPOLO’S NET SALES
(R$ MM)
Total Consolidated Net Sales - 2011
+13.6%
2,964.5
2,532.2
2,023.8
2,101.1
39%
41%
59%
61%
2007
2008
30%
3,368.9
3,800.0
27%
32%
68%
2009
Domestic Market
70%
2010
73%
2011
2012 E
External Market
*E = expected
8
OUTLINE
Marcopolo as a Leading Player
Volare Business
Bus Market Overview
Operating & Financial Highlights
Corporate Governance
Sustainability
Marcopolo Corporation
Product Line
ABOUT VOLARE
Founded in 1957
Volare Production started in 1998
Production Capacity: 7,500 units/year
2011 Production: 4,870 units
2011 Net Revenue: R$ 624.9 million
New facility in Brazil with annual
capacity of 1,000 units/year is expected
to go online in the second half of 2013.
10
GLOBAL POSITIONING
Exports from Brazil
Facility in
Caxias do Sul
11
VOLARE’S PRODUCTION
(Units)
6000
5,070
4,870
5000
3,896
4000
3000
3,623
3,048
2,988
3,159
2,879
2,855
2000
1,727
1000
0
2003
2004
2005
2006
2007
2008
2009
2010
2011
1H12
12
MARKET SEGMENTATION
60%
51%
45%
50%
39%
36%
40%
34%
26%
30%
20%
10%
10%
7% 7% 8%
8% 9%
7% 6% 6%
0%
Escolarbus
Tourism /
Chartering
2009
City
2010
Government's
Sales
School Bus
Driver
2011
13
OUTLINE
Marcopolo as a Leading Player
Volare Business
Bus Market Overview
Operating & Financial Highlights
Corporate Governance
Sustainability
Marcopolo Corporation
Product Line
BRAZILIAN BUS BODY PRODUCTION
(Units)
+7.8%
35,989
35,410
33,395
32,027
26,983
27,952
25,645
25,280
21,787
46.9%
21,381
32.8%
35.4%
34.1%
29.8%
31.6%
16,544
28.9%
17.7%
15.3%
11.7%
2002
2003
2004
2005
2006
Brazilian Production
2007
2008
2009
2010
2011
10.2%
1H12
Exports
15
SOURCE: Fabus – does not include Volare’s production.
BRAZILIAN BUS FLEET
Total Fleet & Average Age
486.6
320.2
335.2
14.3
353.6
13.6
375.7
13.8
401.0
424.1
14.1
13.9
452.0
14.7
14.5
13.1
2004
2005
2006
2007
Total Fleet (thousand units)
SOURCE: Fenabrave and Denatran.
2008
2009
2010
2011
Average Fleet Age (years)
16
MARKET SHARE IN BRAZIL (%)
50%
49.8%
47.0%
46.3%
45.9%
44.7%
40%
43.0%
42.8%
45.7%
45.3%
41.7%
MP/Ciferal
39.2%
Busscar
30%
Caio/ Induscar
Comil
20%
Neobus
Mascarello
10%
Other
(*)
(*) Irizar, Metalbus.
0%
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
1H12
17
SOURCE: Fabus/Simefre.
OUTLOOK
• Events in Brazil
2012 – Municipal Elections/Euro 5 Engine
2013 – FIFA Confederations Cup
2014 – FIFA World Cup / Federal and State level elections
2016 – Olympic and Paralympic Games / Municipal Elections
• Growth Drivers / Opportunities
– GDP Growth
– Investments in BRTs and public transit systems: 2,500 up to 3,000 units estimated demand
– Growth of the school bus program for rural areas
– Long term financing for buses: extension of the FINAME/PSI credit line until December, 2013
– Global Sourcing
– School Bus program for urban areas
– “Brasil Maior” Government Plan: “Reintegro” and pay roll tax cuts
18
OUTLOOK
• Targets/Goals
– #1 or #2 in every country in which we have factories
– Premium prices
– Lowest production cost
• Threats
– Strong exchange rate appreciation
– Regional airlines
– Trains/subways
– Cars/motorcycles
19
OUTLINE
Marcopolo as a Leading Player
Volare Business
Bus Market Overview
Operating & Financial Highlights
Corporate Governance
Sustainability
Marcopolo Corporation
Product Line
TOTAL PRODUCTION (units)
& MARKET SHARE (%)
Marcopolo’s Total Production
+14.3%
31,526
32,500
40%
38%
27,580
EM
39%
+9.2%
14,258
+8.1%
DM
61%
60%
2010
62%
2011
2012 E
7,376
7,976
43%
53%
57%
47%
2Q11
2Q12
15,563
42%
48%
58%
52%
1H11
1H12
*E = expected
Marcopolo’s Market Share in Brazil
+0.9pp
-0.6pp
46.3
45.7
44.7
-0.1pp
45.6
45.4
45.3
21
2010
2011
2Q11
2Q12
1H11
1H12
FINANCIAL HIGHLIGHTS
(R$ Milllion)
3,800.0
+13.6%
Total Net Revenues
3,368.9
2,964.5
27%
EM
30%
+17.5%
1,531.5
+19.3%
DM
70%
2010
770.2
30%
73%
2011
+17.5%
2012 E
1,799.2
34%
30%
918.6
41%
70%
59%
70%
66%
2Q11
2Q12
1H11
1H12
*E = expected
Gross Profit and Margin
741.7
631.3
+12.0%
320.4
358.7
+9.1%
157.8
172.1
22
21.3%
22.0%
2010
2011
20.5%
18.7%
20.9%
19.9%
2Q11
2Q12
1H11
1H12
FINANCIAL HIGHLIGHTS
(R$ Milllion)
+16.5%
464.1
EBITDA and Margin
398.3
+3.8%
195.7
203.2
-5.1%
97.3
92.3
13.4%
13.8%
12.6%
10.0%
12.8%
11.3%
2010
2011
2Q11
2Q12
1H11
1H12
Net Profit and Margin
+16.3%
344.0
295.8
-8.6%
152.1
139.0
-20.6%
76.3
60.6
10.0%
10.2%
9.9%
6.6%
9.9%
7.7%
2010
2011
2Q11
2Q12
1H11
1H12
23
FINANCIAL HIGHLIGHTS
(R$ Milllion)
Net Equity & ROE
+21.6%
+21.6%
1,162.1
1,000.9
955.9
40.0%
2010
36.0%
34.7%
33.1%
2011
1H11
1H12
ROIC
+0.1pp
23.3
1,216.7
(%)
-1.3pp
23.4
21.8
20.5
24
2010
2011
1H11
1H12
FINANCIAL HIGHLIGHTS
(R$ Milllion)
Investments
220.0
+320.6%
190.1
-8.3%
81.5
74.7
45.2
2010
2011
2012 E
1H11
1H12
*E = expected
Net Indebtedness
+29.5%
681.6
-8.8%
526.4
508.4
463.9
-
-
0.1x
0.3x
2010
2011
1H11
1H12
 = Financial Segment
 = Industrial Segment
Net Debt (Industrial
Segment)/LMT EBITDA
25
OUTLINE
Marcopolo as a Leading Player
Volare Business
Bus Market Overview
Operating & Financial Highlights
Corporate Governance
Sustainability
Marcopolo Corporation
Product Line
ORGANIZATION CHART
SHAREHOLDERS
FISCAL COUNCIL
BOARD OF ADMINISTRATION
COMITEE OF:
EXECUTIVE COMITEE
•
HR AND ETHICS
•
STRATEGY AND INNOVATION
•
AUDIT ANS RISK
INTERNAL AUDIT
EXTERNAL AUDIT
IR DIRECTOR
27
CEO
CORPORATE GOVERNANCE
Marcopolo adopts corporate governance best practices, following the principles of transparency,
accountability, social responsibility and equitable treatment of shareholders.
 Independent Board Members (5 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)
 BM&FBovespa Corporate Governance Level 2 since 2002
 Financial Statements in IFRS
 Code of Conduct
 Disclosure and Negotiation Policy
 Participation in the BMF&Bovespa IBrX, IGC, SMLL, INDX, IDIV and ITAG indexes
 Heirs’ Succession Plan
28
SHAREHOLDING DISTRIBUTION
Common Shares
6.1%
3.7%
9.1%
15.2%
65.9%
29
As of August
31st,
2012.
SHAREHOLDING DISTRIBUTION
Preferred Shares
16.2%
5.6%
1.1%
0.9%
52.6%
23.6%
30
As of August
31st,
2012.
CORPORATE STRUTURE
448.450.042
Total Shares
277,637,170 PN Shares
170,812,872 ON Shares
Free Float: 74.2%
(outstanding shares)
Market cap on August 31st, 2012
R$ 5.1 billion
31
STOCK PERFORMANCE
Marcopolo PN x Ibovespa - Base 100
POMO4: +75.9%
IBOV: +3.4%
R$ 10.75
58,406 pts
R$ 6.11
56,495 pts
8/28/2011
11/28/2011
2/28/2012
5/28/2012
8/28/2012
32
SHARE LIQUIDITY & VALUATION
30,0
6000
25,0
5000
20,0
4000
15,0
3000
10,0
2000
5,0
1000
-
Market Cap (R$ Million)
Average Daily Volume (R$ Million)
Marcopolo PN - POMO4
0
Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12
Average Daily Volume (R$ MM)
Market Cap (R$ MM)
33
SHAREHOLDER REMUNERATION
AVERAGE PAY OUT:
48%
53%
53%
51%
51%
344.0
48%
295.8
42%
39%
150.0
146.5
80.2
136.5
134.4
120.5
75.0
42.4
2005
50.4
2006
166.1
71.8
52.1
2007
Net Profit (Company)
2008
Dividends
* 2011 and 2010 Net Profit according to IFRS standards.
2009
2010*
Pay Out (in%)
2011*
34
OUTLINE
Marcopolo as a Leading Player
Volare Business
Bus Market Overview
Operating & Financial Highlights
Corporate Governance
Sustainability
Marcopolo Corporation
Product Line
CO2 EMISSION COMPARISON
Source: www.transportdirect.info.
ABRATI e ANAC.
WHICH WAY IS SUSTAINABLE?
37
OUTLINE
Marcopolo as a Leading Player
Volare Business
Bus Market Overview
Operating & Financial Highlights
Corporate Governance
Sustainability
Marcopolo Corporation
Product Line
BUS BUSINESS UNITS
Ana Rech - Caxias do Sul-RS - Brazil
Planalto - Caxias do Sul-RS - Brazil
Neobus - Caxias do Sul-RS - Brazil
Ciferal - Duque de Caxias -RJ - Brazil
Superpolo – Cota - Colombia
Polomex - Monterrey - Mexico
Tata MP Motors LMTD - Dharward - India
Volgren – Melbourne - Australia
Tata MP Motors LMTD - Lucknow - India
GB Polo - Suez - Egipty
MASA - Johannesburg – South Africa
Metalpar - Loma Hermosa - Argentina
39
OUTLINE
Marcopolo as a Leading Player
Volare Business
Bus Market Overview
Operating & Financial Highlights
Corporate Governance
Sustainability
Marcopolo Corporation
Product Line
PRODUCT FAMILY
41
INVESTOR RELATIONS CONTACTS
Carlos Zignani
Thiago A. Deiro
Investor Relations Director
Investor Relations Manager
carlos.zignani@marcopolo.com.br
thiago.deiro@marcopolo.com.br
Tel: +55 (54) 2101.4115
Tel: +55 (54) 2101.4660
www.marcopolo.com.br/ir
ri@marcopolo.com.br

Similar documents

MARCOPOLO DAY

MARCOPOLO DAY Process Process Director Director

More information

ANEXO I - TABELA DE VALORES IMPOSTO PARA

ANEXO I - TABELA DE VALORES IMPOSTO PARA ANEXO I - TABELA DE VALORES IMPOSTO PARA VEÍCULOS AUTOMOTORES TERRESTRES REFERENTE AO EXERCÍCIO DE 2012 NOTAS: TC = Tipo de combustível: G = Gasolina D=Diesel Os exercícios se referem ao ano de fab...

More information