SAO PAULO, Oct. 28, 2014 /PRNewswire/ -- CCR S.A. (CCR), Brazil's largest road concession operator in terms of revenue, announces its results for the third quarter of 2014 (3Q14).
3Q14 Highlights
- Consolidated traffic fell by 1.4%. Including Renovias, this decrease came to 1.3%.
- The number of STP users climbed 12.5% to 4,618,000 active tags.
- Same-basis² adjusted EBITDA increased by 5.3%, with an adjusted margin of 68.2% (+0.8 p.p.). The same comparison on a proforma basis posted growth of 5.3%, with margin of 67.4% (+0.7 p.p).
- Same-basis² net income totaled R$366.2 million, an 8.1% reduction in 3Q14.
- At the Board of Directors' Meeting held on September 26, 2014, the Board members approved the distribution of interim dividends of R$0.7359 per common share to be paid as of October 31.
IFRS |
Proforma |
||||||
Financial Indicators (R$ MM) |
3Q13 |
3Q14 |
Chg % |
3Q13 |
3Q14 |
Chg % |
|
Net Revenues1 |
1,377.1 |
1,458.7 |
5.9% |
1,594.4 |
1,663.9 |
4.4% |
|
Adjusted Net Revenues on the same basis2 |
1,377.1 |
1,433.2 |
4.1% |
1,572.4 |
1,638.3 |
4.2% |
|
EBIT |
723.0 |
700.6 |
-3.1% |
814.8 |
796.2 |
-2.3% |
|
Adjusted EBIT Mg.3 |
52.5% |
48.0% |
-4.5 p.p. |
51.1% |
47.9% |
-3.2 p.p. |
|
EBIT on the same basis2 |
723.0 |
729.1 |
0.8% |
814.8 |
824.8 |
1.2% |
|
EBIT Mg. on the same basis2 |
52.5% |
50.9% |
-1.6 p.p. |
51.8% |
50.3% |
-1.5 p.p. |
|
Adjusted EBITDA4 |
928.5 |
951.0 |
2.4% |
1,056.9 |
1,077.4 |
1.9% |
|
Adjusted EBITDA Mg.3 |
67.4% |
65.2% |
-2.2 p.p. |
66.3% |
64.8% |
-1.5 p.p. |
|
Adjusted EBITDA on the same basis2 |
928.5 |
977.6 |
5.3% |
1,048.1 |
1,104.1 |
5.3% |
|
Adjusted EBITDA Mg. on the same basis2 |
67.4% |
68.2% |
+0.8 p.p. |
66.7% |
67.4% |
+0.7 p.p. |
|
Net Income |
403.5 |
346.1 |
-14.2% |
403.5 |
346.1 |
-14.2% |
|
Net Income on the same basis² |
398.6 |
366.2 |
-8.1% |
398.6 |
366.2 |
-8.1% |
|
Net Debt / Adjusted EBITDA LTM (x) |
1.9 |
2.0 |
- |
1.8 |
2.0 |
- |
|
Adjusted EBITDA / Performed investments (x) |
2.8 |
1.9 |
- |
3.0 |
1.7 |
- |
|
Adjusted EBITDA / Interest and Monetary Variation (x) |
6.1 |
3.9 |
- |
6.3 |
4.1 |
- |
1 Net revenue excludes construction revenue.
2 Adjustment excluding New Businesses, which are not operating yet (MSVia and Metro Bahia), BH Airport, besides Controlar, which has been discontinued since January 2014.
3 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.
4 Calculated excluding non-cash expenses: depreciation and amortization, the provision for maintenance and the recognition of prepaid concession expenses.
Conference Calls |
|
In Portuguese: |
In English: |
Wednesday, October 29, 2014 |
Wednesday, October 29, 2014 |
11:00 a.m. Sao Paulo / 9:00 a.m. New York |
12:00 p.m. Sao Paulo / 10:00 a.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: 2968116# |
Replay: (11) 3193-1012 |
(11) 2820-4012 |
|
Code: 7458413# |
|
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.
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