CCR - Results for the 4th quarter of 2021
SÃO PAULO, Feb. 24, 2022 /PRNewswire/ --
4Q21 X 4Q20 HIGHLIGHTS
- Consolidated vehicle traffic increased by 7.0%. Excluding ViaCosteira and RodoNorte, the increase was 2.5% in the period.
- The number of passengers transported in airports increased by 86.3% in the period.
- The number of passengers transported in mobility business increased by 24.9% in the period.
- Adjusted EBITDA grew by 37.9%, with a margin of 51.7% (10.1 p.p.). Same-basis1 adjusted EBITDA increased by 49.7%, with a margin of 53.7% (13.3 p.p.).
- Net Loss totaled R$133.2 million, compared to a loss of R$74.8 million in 4Q20. On the same base1, Net Income totaled R$182.6 million, compared to a Net Loss of R$12.3 million.
- On January 28, 2022, the Company disclosed a Material Fact announcing it's subsidiary RioSP (Dutra) - Sistema Rodoviário Rio de Janeiro (RJ) – São Paulo (SP) signed a concession agreement to operate Rodovia BR-116/RJ, Rodovia BR-116/SP, Rodovia BR-101/RJ, and Rodovia BR-101/SP for a term of thirty years.
- On January 21, 2022, the Company disclosed a Material Fact announcing the signing of a concession agreement for the Pampulha Airport, whose purpose is the concession of public services for the operation, expansion and maintenance of this asset, for a concession term of 30 years.
- On November 29, 2021, the Company communicated the termination of RodoNorte's concession agreement, due to the end of its maturity.
- On November 25, 2021, CCR informed its shareholders that it would begin paying interim dividends of approximately R$0.08 per common share on December 15, 2021.
- The COVID-19 pandemic impacted demand and consequently CCR's 4Q21 results. For more details, please refer to the "COVID-19" section of this earnings release and Note 1.1 of the Financial Statements.
1. Same-basis adjustments are described in the same-basis comparison section.
IFRS |
Proforma |
|||||
Financial Indicators (R$ MM) |
4Q20 |
4Q21 |
Chg % |
4Q20 |
4Q21 |
Chg % |
Net Revenues1 |
2,557.3 |
2,835.2 |
10.9% |
2,671.4 |
2,993.6 |
12.1% |
Adjusted Net Revenues on the same basis2 |
2,354.7 |
2,651.3 |
12.6% |
2,468.9 |
2,809.6 |
13.8% |
Adjusted EBIT3 |
425.0 |
600.6 |
41.3% |
474.2 |
685.2 |
44.5% |
Adjusted EBIT Mg.4 |
16.6% |
21.2% |
4.7 p.p. |
17.8% |
22.9% |
5.1 p.p. |
Adjusted EBITDA5 |
1,064.0 |
1,467.0 |
37.9% |
1,137.1 |
1,579.2 |
38.9% |
Adjusted EBITDA Mg.4 |
41.6% |
51.7% |
10.1 p.p. |
42.6% |
52.7% |
10.1 p.p. |
Adjusted EBITDA on the same basis2 |
950.9 |
1,423.5 |
49.7% |
1,024.0 |
1,535.7 |
50.0% |
Adjusted EBITDA Mg. on the same basis4 |
40.4% |
53.7% |
13.3 p.p. |
41.5% |
54.7% |
13.2 p.p. |
Net Income |
(74.8) |
(133.2) |
78.1% |
(74.8) |
(133.2) |
78.1% |
Net Income on the same basis2 |
(12.3) |
182.6 |
n.m. |
(12.3) |
182.6 |
n.m. |
Net Debt / Adjusted EBITDA LTM (x) |
2.9 |
3.0 |
3.0 |
3.0 |
||
Adjusted EBITDA5 / Interest and Monetary Variation (x) |
3.5 |
2.6 |
3.4 |
2.6 |
||
IFRS |
Proforma |
||||||
Financial Indicators (R$ MM) |
2020 |
2021 |
Chg % |
2020 |
2021 |
Chg % |
|
Net Revenues1 |
8,941.1 |
11,175.4 |
25.0% |
9,356.0 |
11,723.4 |
25.3% |
|
Adjusted Net Revenues on the same basis2 |
8,149.9 |
9,154.1 |
12.3% |
8,564.8 |
9,802.4 |
14.4% |
|
Adjusted EBIT3 |
2,071.1 |
3,558.1 |
71.8% |
2,216.1 |
3,840.0 |
73.3% |
|
Adjusted EBIT Mg.4 |
23.2% |
31.8% |
8.6 p.p. |
23.7% |
32.8% |
9.1 p.p. |
|
Adjusted EBITDA5 |
4,715.8 |
6,995.0 |
48.3% |
4,996.9 |
7,387.5 |
47.8% |
|
Adjusted EBITDA Mg.4 |
52.7% |
62.6% |
9.9 p.p. |
53.4% |
63.0% |
9.6 p.p. |
|
Adjusted EBITDA on the same basis2 |
4,140.7 |
5,313.1 |
28.3% |
4,421.9 |
5,705.5 |
29.0% |
|
Adjusted EBITDA Mg. on the same basis4 |
50.8% |
58.0% |
7.2 p.p. |
51.6% |
58.2% |
6.6 p.p. |
|
Net Income |
191.0 |
695.6 |
264.2% |
191.0 |
695.6 |
264.2% |
|
Net Income on the same basis2 |
232.1 |
1,013.3 |
336.6% |
232.1 |
1,013.3 |
336.6% |
|
Net Debt / Adjusted EBITDA LTM (x) |
2.9 |
3.0 |
3.0 |
3.0 |
|||
Adjusted EBITDA5 / Interest and Monetary Variation (x) |
3.9 |
4.3 |
3.7 |
4.2 |
|||
- Net revenue excludes construction revenue.
- The same-basis effects are described in the same-basis comparison section.
- Calculated by adding Net Revenue, Construction Revenue, Cost of Services, and Administrative Expenses.
- The adjusted EBIT and EBITDA margins were calculated by dividing adjusted EBIT and EBITDA by net revenue, excluding construction revenue.
- Calculated by excluding non-cash expenses: depreciation and amortization, provision for maintenance, and accrual of prepaid concession expenses.
Conference Calls/Webcast
Access to the conference calls/webcasts:
Conference call in Portuguese with simultaneous translation into English:
Friday, february 25, 2022
11:00 a.m. São Paulo / 9:00 a.m. New York
Participants calling from Brazil: (11) 4090-1621 or (11) 3181-8565
Participants calling from the U.S.: (+1) 412 717-9627
Access Code: CCR
Replay: (11) 3193 1012
Code: 8366456# or 5097751#
The instructions to participate in these events are available on CCR's website: www.ccr.com.br/ri.
IR Contacts
Flávia Godoy: (+55 11) 3048-5955
Douglas Ribeiro: (+55 11) 3048-6353
Cauê Cunha: (+55 11) 3048-2108
Caique Moraes: (+55 11) 3048-2108
SOURCE CCR S.A.
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