CCR: Results for the 2nd quarter of 2014
SAO PAULO, Aug. 11, 2014 /PRNewswire/ -- CCR S.A. (CCR), Brazil's largest road concession operator in terms of revenue, announces its results for the second quarter of 2014 (2Q14).
2Q14 Highlights
- Consolidated traffic increased 3.9%.
- The number of STP (electronic payment) users climbed by 13.6% to 4,525,000 active tags.
- Same-basis² adjusted EBITDA increased by 4.1%, with an adjusted margin of 63.8% (-0.3 p.p.). The same comparison on a proforma basis posted growth of 5.2%, with a margin of 63.9%.
- Same-basis² net income totaled R$292.9 million, a 3.8% reduction in 2Q14.
- CCR's Executive Board proposed the distribution of interim dividends of R$0.65 per share.
| IFRS |
Proforma |
||||||
| Financial Indicators (R$ MM) |
2Q13 |
2Q14 |
Chg % |
2Q13 |
2Q14 |
Chg % |
|
| Net Revenues1 |
1,246.8 |
1,317.7 |
5.7% |
1,442.7 |
1,507.2 |
4.5% |
|
| Adjusted Net Revenues on the same basis2 |
1,239.6 |
1,297.5 |
4.7% |
1,414.7 |
1,487.0 |
5.1% |
|
| EBIT |
589.0 |
563.0 |
-4.4% |
668.4 |
653.4 |
-2.2% |
|
| Adjusted EBIT Mg.3 |
47.2% |
42.7% |
-4.5 p.p. |
46.3% |
43.4% |
-2.9 p.p. |
|
| EBIT on the same basis2 |
588.8 |
597.4 |
1.5% |
667.4 |
690.7 |
3.5% |
|
| EBIT Mg. on the same basis2 |
47.5% |
46.0% |
-1.5 p.p. |
47.2% |
46.4% |
-0.8 p.p. |
|
| Adjusted EBITDA4 |
797.0 |
797.5 |
0.1% |
908.0 |
916.9 |
1.0% |
|
| Adjusted EBITDA Mg.3 |
63.9% |
60.5% |
-3.4 p.p. |
62.9% |
60.8% |
-2.1 p.p. |
|
| Adjusted EBITDA on the same basis2 |
795.1 |
828.0 |
4.1% |
903.5 |
950.1 |
5.2% |
|
| Adjusted EBITDA Mg. on the same basis2 |
64.1% |
63.8% |
-0.3 p.p. |
63.9% |
63.9% |
- |
|
| Net Income |
304.4 |
275.8 |
-9.4% |
304.4 |
275.8 |
-9.4% |
|
| Net Income on the same basis² |
304.4 |
292.9 |
-3.8% |
304.1 |
292.9 |
-3.7% |
|
| Net Debt / Adjusted EBITDA LTM (x) |
2.0 |
2.0 |
- |
2.0 |
2.0 |
- |
|
| Adjusted EBITDA / Performed investments (x) |
4.0 |
1.7 |
- |
4.0 |
1.8 |
- |
|
| Adjusted EBITDA / Interest and Monetary Variation (x) |
5.4 |
3.6 |
- |
5.7 |
3.9 |
- |
|
1- Net revenue excludes construction revenue.
2- Adjustment excluding New Businesses, which are not operating yet (MSVia, Metro Bahia and BH Airport) and Curacao International Airport. In addition, on a proforma basis, it excludes Controlar, ViaRio and VLT.
3- The 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.
4- 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: |
| Tuesday, August 12, 2014 |
Tuesday, August 12, 2014 |
| 11:00 a.m. Sao Paulo / 10:00 a.m. New York |
12:00 p.m. Sao Paulo / 11:00 a.m. New York |
| Phones: (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: 2094313# |
Replay: (11) 3193-1012 |
| (11) 2820-4012 |
|
| Code: 8932083# |
|
| Webcast: www.ccr.com.br/investidores |
|
IR Contacts
Marcus Macedo (+55 11) 3048-5941
Flavia Godoy: (+55 11) 3048-5955
Daniel Kuratomi: (+55 11) 3048-6353
Leandro Mathias: (+55 11) 3048-2108
SOURCE CCR S.A.
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