CCR S.A.: Results for the 4th quarter and the year of 2014
SAO PAULO, March 4, 2015 /PRNewswire/ -- CCR S.A. (CCR), Brazil's largest road concession operator in terms of revenue, announces its results for the fourth quarter (4Q14) and the year of 2014.
4Q14 Highlights
- Consolidated traffic fell by 0.7%. This variation was also observed considering Renovias.
- The number of STP (electronic payment) users climbed 12.1% to 4,825,000 active tags.
- Same-basis² adjusted EBITDA increased by 7.2%, with an adjusted margin of 64.8% (+0.4 p.p.). The same comparison on a proforma basis posted growth of 4.0%, with a margin of 64.1% (-2.1 p.p.).
- Same-basis² net income totaled R$ 343.8 million, a 10.7% reduction in 4Q14.
- CCR's Management proposed the distribution of additional dividends of R$ 100.8 million, representing R$ 0.0570773 per share, to be submitted for approval by the 2015 Annual Shareholders' Meeting.
IFRS |
Proforma |
|||||
Financial Indicators (R$ MM) |
4Q13 |
4Q14 |
Chg % |
4Q13 |
4Q14 |
Chg % |
Net Revenues1 |
1,376.40 |
1,526.50 |
10.90% |
1,583.10 |
1,743.40 |
10.10% |
Adjusted Net Revenues on the same basis2 |
1,376.40 |
1,466.50 |
6.50% |
1,567.30 |
1,683.40 |
7.40% |
Adjusted EBIT3 |
754.6 |
746.8 |
-1.00% |
732.5 |
841.8 |
14.90% |
Adjusted EBIT Mg.4 |
54.80% |
48.90% |
-5.9 p.p. |
46.30% |
48.30% |
+2.0 p.p. |
EBIT on the same basis2 |
664 |
674.6 |
1.60% |
780.9 |
770.4 |
-1.30% |
EBIT Mg. on the same basis2 |
48.20% |
46.00% |
-2.2 p.p. |
49.80% |
45.80% |
-4.0 p.p. |
Adjusted EBITDA5 |
977.1 |
1,026.10 |
5.00% |
990.1 |
1,153.40 |
16.50% |
Adjusted EBITDA Mg.4 |
71.00% |
67.20% |
-3.8 p.p. |
62.50% |
66.20% |
+3.7 p.p. |
Adjusted EBITDA on the same basis2 |
886.5 |
950.2 |
7.20% |
1,036.90 |
1,078.40 |
4.00% |
Adjusted EBITDA Mg. on the same basis2 |
64.40% |
64.80% |
+0.4 p.p. |
66.20% |
64.10% |
-2.1 p.p. |
Net Income |
306.4 |
383.9 |
25.30% |
306.4 |
383.9 |
25.30% |
Net Income on the same basis2 |
385 |
343.8 |
-10.70% |
385 |
343.8 |
-10.70% |
Net Debt / Adjusted EBITDA LTM (x) |
2 |
2.4 |
- |
2 |
2.3 |
- |
Adjusted EBITDA / Performed investments (x) |
2.7 |
1.8 |
- |
2.3 |
1.4 |
- |
Adjusted EBITDA / Interest and Monetary Variation (x) |
5.2 |
3.4 |
- |
4.9 |
3.6 |
- |
1Net revenue excludes construction revenue. |
2 Adjustment excluding: (i) BH Airport; (ii) new businesses, which are not operating yet: Metrô Bahia and MSVia; (iii) non-recurring items from the sale of an interest in STP in 4Q13 and the write-off of the balance of retained payments to former SPVias shareholders, at CPC, in compliance with contingent items in this concessionaire's purchase agreement in 4Q14; and (iv) Controlar (proforma). |
3Calculated by adding net revenue, construction revenue, cost of services and administrative expenses |
4The 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. |
5Calculated 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: |
Thursday, March 5, 2015 |
Thursday, March 5, 2015 |
11:00 a.m. São Paulo / 9:00 a.m. New York |
12:00 p.m. São Paulo / 10:00 a.m. New York |
Phones: (+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: 8160632# |
Replay: (+55 11) 3193-1012 |
(+55 11) 2820-4012 |
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Code: 9580191# |
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Webcast: www.ccr.com.br/investidores
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IR Contacts
Marcus Macedo (+55 11) 3048-5941
Flávia 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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