SAO PAULO, May 10, 2016 /PRNewswire/ -- CCR S.A. (CCR), Brazil's largest road concession operator in terms of revenue, announces its results for the first quarter of 2016.
1Q16 Highlights
- Consolidated traffic fell 3.2%. Excluding Ponte and MSVia, the reduction was 2.4%.
- Adjusted EBITDA increased by 15.4%, with an adjusted margin of 60.7% (+0.8 p.p.). Same-basis² adjusted EBITDA increased by 5.5%, with an adjusted margin of 65.5% (+0.4 p.p.).
- Net income totaled R$247.5 million, 24.4% up. Same-basis² net income totaled R$252.7 million, 2.9% up.
- Signature of the agreement related to the sale of the entire stake in STP, as disclose through the Material Fact of March 14, 2016.
| IFRS |
Proforma |
||||||
| Financial Indicators (R$ MM) |
1Q15 |
1Q16 |
Chg % |
1Q15 |
1Q16 |
Chg % |
|
| Net Revenues1 |
1,436.4 |
1,635.9 |
13.9% |
1,659.4 |
1,909.8 |
15.1% |
|
| Adjusted Net Revenues on the same basis2 |
1,396.1 |
1,465.8 |
5.0% |
1,616.9 |
1,730.8 |
7.0% |
|
| Adjusted EBIT3 |
590.6 |
705.1 |
19.4% |
693.4 |
826.6 |
19.2% |
|
| Adjusted EBIT Mg.4 |
41.1% |
43.1% |
+2.0 p.p. |
41.8% |
43.3% |
+1.5 p.p. |
|
| EBIT on the same basis2 |
649.9 |
679.1 |
4.5% |
753.5 |
797.1 |
5.8% |
|
| EBIT Mg. on the same basis2 |
46.5% |
46.3% |
-0.2 p.p. |
46.6% |
46.1% |
-0.5 p.p. |
|
| Adjusted EBITDA5 |
859.7 |
992.4 |
15.4% |
997.1 |
1,157.7 |
16.1% |
|
| Adjusted EBITDA Mg.4 |
59.9% |
60.7% |
+0.8 p.p. |
60.1% |
60.6% |
+0.5 p.p. |
|
| Adjusted EBITDA on the same basis2 |
909.4 |
959.6 |
5.5% |
1,047.5 |
1,121.5 |
7.1% |
|
| Adjusted EBITDA Mg. on the same basis2 |
65.1% |
65.5% |
+0.4 p.p. |
64.8% |
64.8% |
- |
|
| Net Income |
198.9 |
247.5 |
24.4% |
198.9 |
247.5 |
24.4% |
|
| Net Income on the same basis2 |
245.6 |
252.7 |
2.9% |
245.6 |
252.7 |
2.9% |
|
| Net Debt / Adjusted EBITDA LTM (x) |
2.4 |
3.2 |
- |
2.3 |
3.0 |
- |
|
| Adjusted EBITDA / Performed investments (x) |
2.2 |
2.1 |
- |
2.1 |
1.7 |
- |
|
| Adjusted EBITDA / Interest and Monetary Variation (x) |
2.8 |
2.4 |
- |
3.0 |
2.6 |
- |
|
1 Net revenue excludes construction revenue.
2 "Same-basis figures exclude: (i) new businesses, either non-operating, under assisted operation, or which were not included in the portfolio during at least one of the comparison periods: Metro Bahia, MSVia and TAS; (ii) Ponte, whose agreement ended on May 31, 2015; and (iii) additionally, in profit in the same comparison basis and in same-basis pro-forma comparisons, it excludes Controlar, ViaRio, VLT and ADC&Has.
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.
5 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: |
| Wednesday, May 11, 2016 |
Wednesday, May 11, 2016 |
| 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: (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: 2628399# |
Replay: (11) 3193-1012 |
| (11) 2820-4012 |
|
| Code: 3863661# |
|
| Webcast: www.ccr.com.br/ir |
|
IR Contacts
Marcus Macedo: (+55 11) 3048-5941
Flavia Godoy: (+55 11) 3048-5955
Daniel Kuratomi: (+55 11) 3048-6353
SOURCE CCR S.A.
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