Earnings Presentation 2023/2022
Disclaimer
The financial information in this presentation is pro forma and consolidated in proportion to Triunfo's interest in each business, while the operating information reflects the entire businesses. The results of the period, compared to the accounting values do not change due to the consolidation method. The net revenue figures reported herein exclude construction revenue (adjusted net revenue) , except where stated otherwise. Results are compared with the same period last year, except where stated otherwise.
This presentation may include forward-looking statements based largely on our current expectations and projections of future events and financial trends that affect or may affect our business. Although we believe these estimates and forward-looking statements are based on reasonable assumptions, many important factors could significantly affect our operating results. Any forward-looking statements, according to the definition under the U.S. Private Securities Litigation Reform Act of 1995, involve diverse risks and uncertainties and there is no guarantee that these results will materialize.
Consolidated Performance
Adjusted Net Revenue and EBITDA
Adjusted Net Revenue - Pro Forma1 (R$ million)
Excluding construction revenue
-20.4% | -19.4% |
912 | 1,089 |
878 | |
726 |
2020 Proforma 2021 ProForma | 2022 | 2023 |
Adjusted EBITDA
Net Revenue Breakdown
Excluding construction revenue
Energy
17%
2023
Toll Roads
83%
Adjusted EBITDA Breakdown
(R$ million)
-36.1%
58.3% 559
Excluding holding
Energy
12%
408
353
260
2020 ProForma 2021 ProForma | 2022 | 2023 |
2023
Toll Roads
88%
1- Excludes the year 2021 for Triunfo Econorte, considering that the Concession contract ended
Main Figures 2023/2022
Main Figures (in R$ thousand) | 4Q23 | 4Q22 | Δ | 2023 | 2022 | Δ |
Adjusted Net Revenue | 247,954 | 233,153 | 6.3% | 877,728 | 1,089,304 | -19.4% |
Toll Roads | 210,546 | 197,909 | 6.4% | 731,113 | 957,505 | -23.6% |
Energy | 37,408 | 35,244 | 6.1% | 146,615 | 131,799 | 11.2% |
Adjusted EBITDA* | 160,733 | 78,006 | 106.1% | 558,781 | 352,926 | 58.3% |
Toll Roads | 158,511 | 74,262 | 113.4% | 520,814 | 318,203 | 63.7% |
Energy | 15,851 | 15,765 | 0.5% | 68,661 | 62,479 | 9.9% |
Holding and Other | (13,629) | (12,021) | 13.4% | (30,694) | (27,756) | 10.6% |
Financial Result | (33,409) | (13,119) | 154.7% | (160,004) | (144,663) | 10.6% |
Toll Roads | (33,980) | (19,037) | 78.5% | (166,387) | (150,411) | 10.6% |
Energy | 369 | 602 | -38.7% | 1,472 | 1,290 | 14.1% |
Holding and Other | 202 | 5,316 | -96.2% | 4,911 | 4,458 | 10.2% |
Net Income (Loss) | 39,256 | (13,103) | -399.6% | (8,021) | 8,382 | n/c |
Toll Roads | 44,224 | (23,684) | n/c | (19,205) | (14,014) | 37.0% |
Energy | 10,092 | 9,426 | 7.1% | 44,373 | 40,062 | 10.8% |
Holding and Other | (15,060) | 1,155 | n/c | (33,189) | (17,666) | 87.9% |
Adjusted EBITDA Margin | 64.8% | 33.5% | 31.4pp | 63.7% | 32.4% | 31.3pp |
Toll Roads | 75.3% | 37.5% | 37.8pp | 71.2% | 33.2% | 38.0pp |
Energy | 42.4% | 44.7% | -2.4pp | 46.8% | 47.4% | -0.6pp |
*Adjusted EBITDA excluding construction margin, non-recurring revenues (expenses), provision for maintenance, Remuneration for Financial Asset and Excess Tariff of Triunfo Concebra, and is calculated based on the consolidated Income Statement as per Triunfo's share in each business (Proportional Consolidation Income Statement).
Capex and Debt
Capex 2023: R$238.2 million
4% | |
0% | |
Concer | |
Triunfo Econorte | |
Triunfo Concebra | 40% |
Triunfo Transbrasiliana | 55% |
Holding and Other |
DEBT (in R$ thousand)
4Q23 | 4Q22 | Δ | |
Triunfo (holding) and other | 46,094 | 49,781 | -7.4% |
Toll Roads | 1,468,370 | 1,590,835 | -7.7% |
Gross Debt | 1,514,464 | 1,640,616 | -7.7% |
Cash and Cash Equivalents | 66,411 | 70,364 | -5.6% |
Net Debt | 1,448,053 | 1,570,252 | -7.8% |
Toll Roads
Toll Roads
Average Tariffs (R$) | 2023 | 2022 | Δ |
Concer | 12.60 | 12.19 | 3.3% |
Triunfo Econorte | 0.00 | 0.00 | n/c |
Triunfo Transbrasiliana | 8.50 | 7.74 | 9.8% |
Triunfo Concebra | 3.19 | 3.02 | 5.8% |
Traffic of Equivalent Passing Vehicles.
Net Revenue and
Adjusted EBITDA (R$ million)
-23.9% | -23.6% | |
-38.0% | 958 | 63.7% |
793 | 731 | |
603 | 521 | |
379 | 318 | |
235 | ||
2020 Pro Forma | 2021 Proforma | 2022 | 2023 |
Adjusted Net Revenue | Adjusted EBITDA |
Energy
Energy Segment and other relevant matters
Net Revenue and Adjusted EBITDA
(R$ million)
+3.3% | +11.2% | |||
+7.7% | +9.9% | |||
132 | 147 | |||
119 | 123 | |||
54 | 62 | 69 | ||
50 | ||||
2020 | 2021 | 2022 | 2023 |
Receita Líquida | EBITDA Ajustado |
- Net revenue grew 11.2% in 2023 and Adjusted EBITDA grew 9.9% in comparison with 2022 respectively;
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Disclaimer
TPI - Triunfo Participações e Investimentos SA published this content on 21 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 March 2024 11:55:12 UTC.