SÃO PAULO, March 4, 2021 /PRNewswire/ -- CCR S.A. (CCR), one of Latin America's largest infrastructure concession groups, discloses its results for the 4th quarter of 2020.
Highlights 4Q20 vs. 4Q19
- Consolidated traffic increased by 4.6%. Excluding ViaSul, it fell by 0.1% in the period.
- Adjusted EBITDA decreased by 29.1%, with a margin of 41.6% (-15.1 p.p.). Same-basis adjusted EBITDA fell by 30.0%, with a margin of 41.2% (-15.6 p.p.).
- Net Loss totaled R$74.8 million, against a Net Income of R$392.6 million. On the same basis, net loss totaled R$78.2 million, versus net income of R$395.4 million.
- There were non-recurring effects explained during the release that impacted the results for the quarter, we would like to highlight the provision for loss, in MSVia, due to the asset return process, in the amount of R$ 305.9 million.
- In light of the COVID-19 pandemic, state and municipal governments have imposed several measures including social isolation and restrictions on the movement of people, which impacted demand and, consequently, CCR's 4Q20 results. For more details, please refer to the "COVID-19" section of this earnings release and notes 1.1 and 28 of the Annual Financial Statements.
1 - Adjustments on the same basis are described on the same basis section of the company´s earnings release, available at www.ccr.com, br/ri.
IFRS |
Proforma |
|||||
Financial Indicators (R$ MM) |
4Q19 |
4Q20 |
Chg % |
4Q19 |
4Q20 |
Chg % |
Net Revenues1 |
2,645.0 |
2,557.3 |
-3.3% |
2,793.6 |
2,671.4 |
-4.4% |
Adjusted Net Revenues on the same basis2 |
2,601.2 |
2,507.9 |
-3.6% |
2,749.8 |
2,622.1 |
-4.6% |
Adjusted EBIT3 |
903.6 |
425.0 |
-53.0% |
975.1 |
474.2 |
-51.4% |
Adjusted EBIT Mg.4 |
34.2% |
16.6% |
-17.5 p.p. |
34.9% |
17.8% |
-17.2 p.p. |
Adjusted EBITDA5 |
1,500.8 |
1,064.0 |
-29.1% |
1,605.2 |
1,137.1 |
-29.2% |
Adjusted EBITDA Mg.4 |
56.7% |
41.6% |
-15.1 p.p. |
57.5% |
42.6% |
-14.9 p.p. |
Adjusted EBITDA on the same basis2 |
1,477.0 |
1,033.2 |
-30.0% |
1,581.4 |
1,106.3 |
-30.0% |
Adjusted EBITDA Mg. on the same basis2 |
56.8% |
41.2% |
-15.6 p.p. |
57.5% |
42.2% |
-15.3 p.p. |
Net Income |
392.6 |
(74.8) |
n.m. |
392.6 |
(74.8) |
n.m. |
Net Income on the same basis 2 7 |
395.4 |
(78.2) |
n.m. |
395.4 |
(78.2) |
n.m. |
Net Income on the same basis (ex-MSVia) 8 |
395.4 |
176.1 |
-55.5% |
395.4 |
176.1 |
-55.5% |
Net Debt / Adjusted EBITDA LTM (x)6 |
2.4 |
2.9 |
2.4 |
3.0 |
||
Adjusted EBITDA5 / Interest and Monetary Variation (x) |
5.2 |
3.5 |
5.0 |
3.4 |
IFRS |
Proforma |
|||||
Financial Indicators (R$ MM) |
2019 |
2020 |
Chg % |
2019 |
2020 |
Chg % |
Net Revenues1 |
9,494.4 |
8,941.1 |
-5.8% |
10,140.2 |
9,356.0 |
-7.7% |
Adjusted Net Revenues on the same basis2 |
9,450.6 |
8,765.2 |
-7.3% |
10,044.8 |
9,180.1 |
-8.6% |
Adjusted EBIT3 |
3,453.4 |
2,071.1 |
-40.0% |
3,736.1 |
2,216.1 |
-40.7% |
Adjusted EBIT Mg.4 |
36.4% |
23.2% |
-13.2 p.p. |
36.8% |
23.7% |
-13.2 p.p. |
Adjusted EBITDA5 |
5,790.4 |
4,715.8 |
-18.6% |
6,206.8 |
4,996.9 |
-19.5% |
Adjusted EBITDA Mg.4 |
61.0% |
52.7% |
-8.2 p.p. |
61.2% |
53.4% |
-7.8 p.p. |
Adjusted EBITDA on the same basis2 |
5,766.6 |
4,628.5 |
-19.7% |
6,151.9 |
4,909.7 |
-20.2% |
Adjusted EBITDA Mg. on the same basis2 |
61.0% |
52.8% |
-8.2 p.p. |
61.2% |
53.5% |
-7.8 p.p. |
Net Income |
1,438.3 |
191.0 |
-86.7% |
1,438.3 |
191.0 |
-86.7% |
Net Income on the same basis 2 7 |
1,446.1 |
203.6 |
-85.9% |
1,446.1 |
203.6 |
-85.9% |
Net Income on the same basis (ex-MSVia) 8 |
1,446.1 |
457.9 |
-68.3% |
1,446.1 |
457.9 |
-68.3% |
Net Debt / Adjusted EBITDA LTM (x)6 |
2.4 |
2.9 |
2.4 |
3.0 |
||
Adjusted EBITDA5 / Interest and Monetary Variation (x) |
4.8 |
3.9 |
4.6 |
3.7 |
¹ Net revenues exclude construction revenues. |
Conference Calls/Webcast
Access to the conference calls/webcasts:
Portuguese conference call with simultaneous translation into English:
Friday, March 5, 2021
1:00 p.m. (São Paulo) / 11:00 a.m. (New York)
Participants calling from Brazil: (11) 3181-8565 or (11) 4210-1803
Participants calling from the U.S.: (+1) 412 717-9627 or (+1) 844 204-8942
Access Code: CCR
Replay: (11) 3193 1012 or (11) 2820-4012
Code: 8366456# or 5097751#
The instructions to participate in these events are available on CCR's website: www.ccr.com.br/ri.
IR Contacts
Marcus Macedo: (+55 11) 3048-5941
Flávia Godoy: (+55 11) 3048-5955
Douglas Ribeiro: (+55 11) 3048-6353
Natalia Fialho: (+55 11) 94386-1495
Caique Moraes: (+55 11) 3048-2108
SOURCE CCR S.A.
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