O plano da Motiva para um cenário mais volátil: foco, M&A, novos negócios
A Motiva vai ficar mais seletiva nos próximos leilões de projetos de infraestrutura com a turbulência vista nos mercados depois das eleições, mas também vê oportunidades nesse novo cenário, inclusive para aquisições. A companhia comentou sua estratégia num evento com investidores nesta quinta-feira, com o CEO Miguel Setas descrevendo a conclusão da venda da plataforma de aeroportos em setembro…
Motiva plans for a more volatile future include focusing on infrastructure projects, M&A, and new business ventures. The company discussed its strategy at an investor event on Thursday, with CEO Miguel Setas explaining that the recent sale of its airport platform, which reduced leverage from 3.7x to 3.2x, has prepared Motiva for the current moment.
Setas also highlighted that 85% of the company's assets are now classified as "premium" or "AAA" according to its internal methodology. A key focus of the new strategy will be extracting value from existing assets through negotiations for contract add-ons, such as with adhesion companies in the Autoban, SP Vias, and Anel Oeste projects.
The company also aims to generate additional revenue through its concessions, with Motiva Negócios, a new subsidiary, potentially representing 10% of the company's value by 2035. Potential opportunities include electric vehicle charging infrastructure, real estate exploration, and out-of-home advertising on highways. Motiva will be more selective in upcoming auctions but will remain vigilant for M&A opportunities to generate value.
The CFO, Rodrigo Araújo, mentioned that the company is exploring the sale of a minority stake in its urban mobility platform and is interested in partnering with foreign players with relevant experience in mobility operations or commercial exploration. Motiva expects to generate R$5 billion to R$10 billion in capital recycling by 2035, with R$30 billion in potential new investments solely in its road concessions.
In rail, the company is in talks for a potential adhesion on Line 5, with additional investments of R$7.5 billion for two new stations, following a R$5 billion adhesion on Line 4 Amarela. With the contracted capex of R$60 billion and additional investments being negotiated, Motiva may see its leverage reach around 4.2x by 2031 or 2032, according to the CFO.
However, he dismisses the need for an equity market follow-on to finance these existing investments, stating that the leverage's composition will differ when viewed in parts.
Written by urgent.news from Brazil Journal's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
