CCR: Results for the 1st Quarter of 2014

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

 

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

 



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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