Outlook

Our executives’ greatest challenge has been to speed up our growth to a pace compatible with the Brazilian and international macroeconomic situation. Improving our tax and capital structures, monitoring our internal indicators even more accurately and expanding the mechanisms based on an integrated and intelligent vision all help us achieve this goal.

Our goal of advancing in business–by reaching short-term targets and increasing the return on investments–and commitment to long-term planning ensures the Group’s solidity, credibility and financial health. In this regard, planning, control, management and governance tools will continue to be strengthened to support our growth while we remain focused on service quality and transparency. To make the projected growth possible, efficiency and international expansion remain important pillars of our strategy. CSC is expected to complete the migration of the companies’ operations late in the first half of 2015, which will allow us to reduce expenses and have a more strategic focus at the companies.

Concerning the full implementation of our international operations in Latin America, our expectations involve increasing revenue from the current base of customers with a global presence, as well as attracting new business and customers. There are great opportunities in the ICT and Agribusiness segments, in which we invested R$673 million in 2014. In ICT, it is worth noting the acquisition of 4G because the 700MHz frequency will be cleared for mobile internet services in 2015; the installation of the submarine fiber-optic cable between the cities of Santos, in Brazil, and Boca Raton, in the United States; and the consolidation of the Asyst operations in Latin America.

Concerning Agribusiness, structuring actions and investments in improving the future generation capacity of the plants in Uberlândia and Maranhão reaffirm our commitment to agribusiness. After the adjustments and investments, we believe we now have means to generate earnings in coming years, thus retaining our leading position in the oil market in the Southeast region and expanding to new markets, mainly to the Northeast.

In the Tourism segment, domestic tourism is expected to rise due to the increases in the dollar rate and in taxes for foreign exchange transactions and overseas spending. Additionally, we are planning to build a new water attraction.

In the Service segment, we need a recovery in commercial and industrial activities. If the necessary economic adjustments are successful, they may create the conditions needed for economic activity to rebound, favoring the segment.