SAO PAULO, Aug. 11, 2016 /PRNewswire/ -- CCR S.A. (CCR), Brazil's largest road concession operator in terms of revenue, announces its results for the second quarter of 2016.
2Q16 Highlights
- Consolidated traffic fell 2.6%. Excluding Ponte and MSVia, the reduction was 3.8%.
- Adjusted EBITDA increased by 13.6%, with an adjusted margin of 60.0% (+0.7 p.p.). Same-basis² adjusted EBITDA increased by 5.8%, with an adjusted margin of 64.2% (+2.4 p.p.).
- Net income totaled R$145.7 million, 20.7% down. Same-basis² net income totaled R$147.8 million, 36.8% down.
| IFRS |
Proforma |
||||||
| Financial Indicators (R$ MM) |
2Q15 |
2Q16 |
Chg % |
2Q15 |
2Q16 |
Chg % |
|
| Net Revenues1 |
1,424.4 |
1,599.6 |
12.3% |
1,657.3 |
1,865.8 |
12.6% |
|
| Adjusted Net Revenues on the same basis2 |
1,389.6 |
1,414.8 |
1.8% |
1,620.3 |
1,665.2 |
2.8% |
|
| Adjusted EBIT3 |
583.0 |
634.7 |
8.9% |
682.1 |
738.5 |
8.3% |
|
| Adjusted EBIT Mg.4 |
40.9% |
39.7% |
-1.2 p.p. |
41.2% |
39.6% |
-1.6 p.p. |
|
| EBIT on the same basis2 |
602.1 |
591.8 |
-1.7% |
701.5 |
694.0 |
-1.1% |
|
| EBIT Mg. on the same basis2 |
43.3% |
41.8% |
-1.5 p.p. |
43.3% |
41.7% |
-1.6 p.p. |
|
| Adjusted EBITDA5 |
845.2 |
960.2 |
13.6% |
980.9 |
1,106.7 |
12.8% |
|
| Adjusted EBITDA Mg.4 |
59.3% |
60.0% |
+0.7 p.p. |
59.2% |
59.3% |
+0.1 p.p. |
|
| Adjusted EBITDA on the same basis2 |
858.7 |
908.4 |
5.8% |
994.7 |
1,053.3 |
5.9% |
|
| Adjusted EBITDA Mg. on the same basis2 |
61.8% |
64.2% |
+2.4 p.p. |
61.4% |
63.3% |
+1.9 p.p |
|
| Net Income |
183.7 |
145.7 |
-20.7% |
183.7 |
145.7 |
-20.7% |
|
| Net Income on the same basis2 |
234.0 |
147.8 |
-36.8% |
234.0 |
147.8 |
-36.8% |
|
| Net Debt / Adjusted EBITDA LTM (x) |
2.6 |
3.3 |
- |
2.5 |
3.1 |
- |
|
| Adjusted EBITDA / Performed investments (x) |
1.3 |
1.4 |
- |
1.3 |
1.4 |
- |
|
| Adjusted EBITDA / Interest and Monetary Variation (x) |
2.5 |
2.4 |
- |
2.7 |
2.6 |
- |
|
| IFRS |
Proforma |
||||||
| Financial Indicators (R$ MM) |
1H15 |
1H16 |
Chg % |
1H15 |
1H16 |
Chg % |
|
| Net Revenues1 |
2,860.8 |
3,235.6 |
13.1% |
3,316.7 |
3,775.6 |
13.8% |
|
| Adjusted Net Revenues on the same basis2 |
2,785.7 |
2,880.6 |
3.4% |
3,237.1 |
3,387.8 |
4.7% |
|
| Adjusted EBIT3 |
1,173.5 |
1,339.8 |
14.2% |
1,375.5 |
1,565.1 |
13.8% |
|
| Adjusted EBIT Mg.4 |
41.0% |
41.4% |
+0.4 p.p. |
41.5% |
41.5% |
0.0 p.p. |
|
| EBIT on the same basis2 |
1,252.0 |
1,270.9 |
1.5% |
1,454.6 |
1,491.1 |
2.5% |
|
| EBIT Mg. on the same basis2 |
44.9% |
44.1% |
-0.8 p.p. |
44.9% |
44.0% |
-0.9 p.p. |
|
| Adjusted EBITDA5 |
1,705.0 |
1,952.6 |
14.5% |
1,978.0 |
2,264.4 |
14.5% |
|
| Adjusted EBITDA Mg.4 |
59.6% |
60.3% |
0.7 p.p. |
59.6% |
60.0% |
+0.4 p.p. |
|
| Adjusted EBITDA on the same basis2 |
1,768.1 |
1,868.0 |
5.7% |
2,041.7 |
2,174.8 |
6.5% |
|
| Adjusted EBITDA Mg. on the same basis2 |
63.5% |
64.8% |
+1.3 p.p. |
63.1% |
64.2% |
+0.7 p.p. |
|
| Net Income |
382.6 |
393.2 |
2.8% |
382.6 |
393.2 |
2.8% |
|
| Net Income on the same basis2 |
479.6 |
398.4 |
-16.9% |
479.6 |
398.4 |
-16.9% |
|
| Net Debt / Adjusted EBITDA LTM (x) |
2.6 |
3.3 |
- |
2.5 |
3.1 |
- |
|
| Adjusted EBITDA / Performed investments (x) |
1.6 |
1.9 |
- |
1.6 |
1.5 |
- |
|
| Adjusted EBITDA / Interest and Monetary Variation (x) |
2.6 |
2.4 |
- |
2.9 |
2.6 |
- |
|
1 Net revenue excludes construction revenue.
2 "Same-basis figures exclude: (ii) 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: |
| Friday, August 12, 2016 |
Friday, August 12, 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: 2076597# |
Replay: (11) 3193-1012 |
| (11) 2820-4012 |
|
| Code: 6221747# |
|
| 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
Marcela Dias (+55 11) 3048-2108
SOURCE CCR S.A.
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