SAO PAULO, May 12, 2014 /PRNewswire/ -- CCR S.A. (CCR), Brazil's largest road concession operator in terms of revenue, announces its results for the first quarter of 2014 (1Q14).
1Q14 Highlights
- Consolidated traffic increased 9.1%. Including Renovias, this increase came to 9.2%.
- The number of STP (electronic payment) users increased by 14.2%, reaching 4,427,000 active tags.
- Same-basis² adjusted EBITDA increased by 14.6%, with a margin of 67.6% (+2.6 p.p.). The same comparison on a proforma basis posted growth of 15.4%, with margin of 67.0% (+3.2 p.p.).
- Same-basis² net income totaled R$361.8 million, 7.5% growth.
IFRS |
Proforma |
||||||
Financial Indicators (R$ MM) |
1Q13 |
1Q14 |
Chg % |
1Q13 |
1Q14 |
Chg % |
|
Net Revenues1 |
1,206.2 |
1,350.6 |
12.0% |
1,383.5 |
1,543.2 |
11.5% |
|
Adjusted Net Revenues on the same basis2 |
1,206.2 |
1,327.8 |
10.1% |
1,383.5 |
1,520.4 |
9.9% |
|
EBIT |
605.6 |
655.2 |
8.2% |
674.0 |
745.6 |
10.6% |
|
Adjusted EBIT Mg.3 |
50.2% |
48.5% |
-1.7 p.p. |
48.7% |
48.3% |
-0.4 p.p. |
|
EBIT on the same basis2 |
605.6 |
682.7 |
12.7% |
674.0 |
774.0 |
14.8% |
|
EBIT Mg. on the same basis2 |
50.2% |
51.4% |
+1.2 p.p. |
48.7% |
50.9% |
+2.2 p.p. |
|
Adjusted EBITDA4 |
783.6 |
874.4 |
11.6% |
882.8 |
994.8 |
12.7% |
|
Adjusted EBITDA Mg.3 |
65.0% |
64.7% |
-0.3 p.p. |
63.8% |
64.5% |
+0.7 p.p. |
|
Adjusted EBITDA on the same basis2 |
783.6 |
898.2 |
14.6% |
882.8 |
1,019.1 |
15.4% |
|
Adjusted EBITDA Mg. on the same basis2 |
65.0% |
67.6% |
+2.6 p.p. |
63.8% |
67.0% |
+3.2 p.p. |
|
Net Income |
336.7 |
343.1 |
1.9% |
336.7 |
343.1 |
1.9% |
|
Net Income on the same basis² |
336.7 |
361.8 |
7.5% |
336.7 |
361.8 |
7.5% |
|
Net Debt / Adjusted EBITDA LTM (x) |
2.1 |
1.9 |
- |
2.1 |
1.9 |
- |
|
Adjusted EBITDA / Performed investments (x) |
6.2 |
4.0 |
- |
5.5 |
4.1 |
- |
|
Adjusted EBITDA / Interest and Monetary Variation (x) |
6.2 |
4.3 |
- |
6.9 |
4.5 |
- |
1 Net operating revenue excludes construction revenue.
2 Adjustment excluding Curacao Airport, MSVia, Metro Bahia and BH Airport. In addition, on a proforma basis, it excludes VLT.
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.
Upcoming Events
Conference Calls
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In Portuguese: |
In English: |
Tuesday, May 13, 2014 |
Tuesday, May 13, 2014 |
11:00 a.m. Sao Paulo / 10:00 a.m. New York |
12:00 p.m. Sao Paulo / 11:00 a.m. New York |
Telephones: (+55 11) 3193-1001 |
Brazil: (+55 11) 3193-1001 |
(+55 11) 2820-4001 |
(+55 11) 2820-4001 |
Code: CCR |
US: (+1) 888-700-0802 |
Replay: (+55 11) 3193-1012 |
Other Countries: (+1) 786-924-6977 |
(+55 11) 2820-4012 |
Code: CCR |
Code: 3024266# |
Replay: (+55 11) 3193-1012 |
(+55 11) 2820-4012 |
|
Code: 3097872# |
|
Webcast: www.ccr.com.br/investidores
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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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