SÃO PAULO, Oct. 28, 2019 /PRNewswire/ -- CCR S.A. (CCR), one of Latin America's largest infrastructure concession groups, discloses its results for the 3rd quarter of 2019.
Highlights 3Q19 vs. 3Q18
- Consolidated traffic increased 6.0%. Excluding ViaSul, the increase was 2.0%.
- Operating adjusted EBITDA* rose 17.6%, with margin of 61.4% (+1.2 p.p.).
- Same-basis** net income totaled R$ 352.1 million, 3.0% down.
* The definitions of "operating adjusted EBITDA" are described below the following table. |
**The same-basis adjustments are described in the same-basis comparison section on the complete 3Q19 release available at www.ccr.com.br/ir |
IFRS |
Proforma |
||||||
Financial Indicators (R$ MM) |
3Q18 |
3Q19 |
Chg % |
3Q18 |
3Q19 |
Chg % |
|
Net Revenues1 |
2,090.3 |
2,409.6 |
15.3% |
2,310.8 |
2,588.0 |
12.0% |
|
Adjusted Net Revenues on the same basis2 |
2,064.0 |
2,205.5 |
6.9% |
2,156.0 |
2,271.8 |
5.4% |
|
Adjusted EBIT3 |
765.5 |
920.8 |
20.3% |
857.0 |
967.0 |
12.8% |
|
Adjusted EBIT Mg.4 |
36.6% |
38.2% |
1.6 p.p. |
37.1% |
37.4% |
-0.3 p.p. |
|
Adjusted EBITDA5 |
1,258.1 |
1,527.6 |
21.4% |
1,393.1 |
1,607.7 |
15.4% |
|
Adjusted EBITDA Mg.4 |
60.2% |
63.4% |
3.2 p.p. |
60.3% |
62.1% |
1.8 p.p. |
|
Operating adjusted EBITDA6 |
1,258.1 |
1,480.0 |
17.6% |
1,393.1 |
1,560.0 |
12.0% |
|
Operating adjusted EBITDA Mg.4 |
60.2% |
61.4% |
1.2 p.p. |
60.3% |
60.3% |
- |
|
Adjusted EBITDA on the same basis2 |
1,307.0 |
1,388.3 |
6.2% |
1,374.7 |
1,443.1 |
5.0% |
|
Adjusted EBITDA Mg. on the same basis2 |
63.3% |
62.9% |
-0.4 p.p. |
63.8% |
63.5% |
-0.3 p.p. |
|
Net Income |
365.3 |
340.2 |
-6.9% |
365.3 |
340.2 |
-6.9% |
|
Net Income on the same basis2 |
363.1 |
352.1 |
-3.0% |
363.1 |
352.1 |
-3.0% |
|
Net Debt / Adjusted EBITDA LTM (x) |
2.6 |
2.3 |
2.6 |
2.3 |
|||
Adjusted EBITDA5 / Interest and Monetary Variation (x) |
4.3 |
5.3 |
4.5 |
4.9 |
¹ Net revenue excludes construction revenue. |
² The same-basis effects are described in the same-basis comparison section. |
3 Calculated by adding net revenue, construction revenue, cost of services and administrative expenses. |
4 The operating adjusted EBIT and EBITDA margins were calculated by dividing operating adjusted EBIT and EBITDA by net revenue, excluding construction revenue. |
5 Calculated excluding non-cash expenses: depreciation and amortization, provision for maintenance and the recognition of prepaid concession expenses. |
6 In addition to non-cash expenses, revenues and/or non-operating non-cash expenses are excluded from adjusted EBITDA. |
Subsequent Event
On October 15, 2019, we announced that we will begin paying interim dividends of around R$0.46 per common share on October 31, 2019.
Conference Calls/Webcast
Access to the conference calls/webcasts:
Portuguese conference call with simultaneous translation into English:
October 29, 2019
11:00 a.m. São Paulo / 10:00 a.m. New York
Participants calling from Brazil: (11) 3193-1080 or (11) 2820-4080
Participants calling from the US: 1-646 828-8246 or (+1) 800 492-3904
Access Code: CCR
Replay: (11) 3193-1012 or (11) 2820-4012
Code: 6613150#
The instructions to participate in these events are available on CCR's website: www.ccr.com.br/ir.
IR Contacts
Marcus Macedo (+55 11) 3048-5941
Flávia Godoy: (+55 11) 3048-5955
Daniel Kuratomi: (+55 11) 3048-6353
Caique Moraes (+55 11) 3048-2108
SOURCE CCR S.A.
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