SAO PAULO, May 14, 2015 /PRNewswire/ -- CCR S.A. (CCR), Brazil's largest road concession operator in terms of revenue, announces its results for the first quarter of 2015.
1Q15 Highlights
- Consolidated traffic fell by 3.9%. Considering Renovias, the reduction came to 3.8%.
- The number of STP (electronic payment) users climbed 11.3%, to 4,926,00 active tags.
- Adjusted EBITDA declined by 1.7%, with an adjusted margin of 59.9% (-4.8 p.p.). Same-basis² adjusted EBITDA increased by 1.3%, with an adjusted margin of 66.0% (-0.9 p.p.).
- Net income totaled R$198.9 million, 42.0% down. Same-basis² net income totaled R$312.6 million, 13.8% down.
IFRS |
Proforma |
||||||
Financial Indicators (R$ MM) |
1Q14 |
1Q15 |
Chg % |
1Q14 |
1Q15 |
Chg % |
|
Net Revenues1 |
1,350.6 |
1,436.4 |
6.4% |
1,543.2 |
1,659.4 |
7.5% |
|
Adjusted Net Revenues on the same basis2 |
1,350.8 |
1,387.1 |
2.7% |
1,540.8 |
1,607.8 |
4.3% |
|
Adjusted EBIT3 |
655.2 |
590.6 |
-9.9% |
745.6 |
693.4 |
-7.0% |
|
Adjusted EBIT Mg.4 |
48.5% |
41.1% |
-7.4 p.p. |
48.3% |
41.8% |
-6.5 p.p. |
|
EBIT on the same basis2 |
684.8 |
650.5 |
-5.0% |
776.6 |
754.2 |
-2.9% |
|
EBIT Mg. on the same basis2 |
50.7% |
46.9% |
-3.8 p.p. |
50.4% |
46.9% |
-3.5 p.p. |
|
Adjusted EBITDA5 |
874.4 |
859.7 |
-1.7% |
994.8 |
997.1 |
0.2% |
|
Adjusted EBITDA Mg.4 |
64.7% |
59.9% |
-4.8 p.p. |
64.5% |
60.1% |
-4.4 p.p. |
|
Adjusted EBITDA on the same basis2 |
904.0 |
916.1 |
1.3% |
1,025.2 |
1,054.3 |
2.8% |
|
Adjusted EBITDA Mg. on the same basis2 |
66.9% |
66.0% |
-0.9 p.p. |
66.5% |
65.6% |
-0.9 p.p. |
|
Net Income |
343.1 |
198.9 |
-42.0% |
343.1 |
198.9 |
-42.0% |
|
Net Income on the same basis2 |
362.7 |
312.6 |
-13.8% |
362.7 |
312.6 |
-13.8% |
|
Net Debt / Adjusted EBITDA LTM (x) |
1.9 |
2.5 |
- |
1.9 |
2.4 |
- |
|
Adjusted EBITDA / Performed investments (x) |
4.0 |
2.2 |
- |
4.1 |
2.1 |
- |
|
Adjusted EBITDA / Interest and Monetary Variation (x) |
4.3 |
2.8 |
- |
4.5 |
2.5 |
- |
1 Net revenue excludes construction revenue.
2 "Same-basis" amounts exclude: (i) BH Airport; (ii) new businesses, which are not operating yet: Metro Bahia and MSVia; (iii) non-recurring items from tax provision for Ponte; and (iv) in profit and pro-forma comparisons, it excludes Controlar, ViaRio and VLT.
3 Calculated by adding net revenue, construction revenue, cost of services and administrative expenses.
4 The adjusted EBIT and EBITDA margins were calculated by dividing EBIT and EBITDA by net revenue, excluding construction revenue, as required by IFRS, whose counter-entry of the same amount impacts total costs.
5 Calculated excluding non-cash expenses: depreciation and amortization, the provision for maintenance and the recognition of prepaid concession expenses.
Subsequent Event
- The Annual and Extraordinary Shareholders' Meeting held on April 16, 2015 approved the distribution of complementary dividends totaling R$100.8 million, representing approximately R$0.06 per share. The payments began on April 30, 2015.
Upcoming Events
Conference Calls |
|
In Portuguese: |
In English: |
Friday, May 15, 2015 |
Friday, May 15, 2015 |
12:00 p.m. Sao Paulo / 11:00 a.m. New York |
1:00 p.m. Sao Paulo / 12:00 p.m. New York |
Phones: (11) 3193-1001 |
Brazil: (11) 3193-1001 |
(11) 2820-4001 |
(11) 2820-4001 |
Code: CCR |
US: (+1) 888-700-0802 |
Replay: (11) 3193-1012 |
Other countries: (+1) 786-924-6977 |
(11) 2820-4012 |
Code: CCR |
Code: 2858309# |
Replay: (11) 3193-1012 |
(11) 2820-4012 |
|
Code: 9416156# |
|
Webcast: www.ccr.com.br/investidores |
|
IR Contacts
Marcus Macedo (+55 11) 3048-5941
Flavia Godoy: (+55 11) 3048-5955
Daniel Kuratomi: (+55 11) 3048-6353
Leandro Mathias: (+55 11) 3048-2108
SOURCE CCR S.A.
Related Links
http://www.ccr.com.br/investidores
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