CCR - Results For The 3rd Quarter Of 2021
SÃO PAULO, Nov. 11, 2021 /PRNewswire/ --
3Q21 X 3Q20 HIGHLIGHTS
- Consolidated vehicle traffic increased by 14.5%. Excluding ViaCosteira, growth was 6.8% in the period.
- The number of passengers transported in airports increased by 303.4% in 3Q21.
- Adjusted EBITDA grew by 21.1%, with a margin of 62.6% (2.9 p.p.). Same-basis1 adjusted EBITDA increased by 20.0%, with a margin of 63.1% (3.3 p.p.).
- Net Income totaled R$183.9 million, a growth of 55.5%. Same-basis1 Net Income totaled R$180.9 million, a growth of 53.4%.
- As disclosed on a Material Fact on October 29, 2021, the Company was awarded the contract to operate the infrastructure and provide public services for the recovery, operation, maintenance, monitoring, conservation, implementation of improvements, expansion of capacity, and service maintenance of Dutra - Sistema Rodoviário Rio de Janeiro (RJ) – São Paulo (SP) – Rodovia BR-116/RJ, Rodovia BR-116/SP, Rodovia BR-101/RJ, and Rodovia BR-101/SP for thirty years.
- As disclosed on a Material Fact on October 20, 2021, the Company informed that it executed the Concession Agreement of the South Block, whose object is to grant public services for the expansion, maintenance, and operation of the airport infrastructure of the following airports: Curitiba (PR), in São José dos Pinhais, Foz do Iguaçu (PR), Londrina (PR), Bacacheri (PR), Navegantes (SC), Joinville (SC), Pelotas (RS), Uruguaiana (RS), and Bagé (RS), for thirty (30) years.
- As disclosed on a Material Fact on October 18, 2021, the Company informed that it executed the Concession Agreement of the Central Block, whose object is to grant public services for the expansion, maintenance, and operation of the airport infrastructure of the following airports: Goiânia/GO – Santa Genoveva (SBGO), São Luís/MA – Marechal Cunha Machado (SBSL), Teresina/PI (SBTE) – Senador Petrônio Portella, Palmas/TO – Brigadeiro Lysias Rodrigues (SBPJ), Petrolina/PE – Senador Nilo Coelho (SBPL), and Imperatriz/MA – Prefeito Renato Moreira (SBIZ), for thirty (30) years.
- As disclosed on a Material Fact on October 5, 2021, the Company informed that it was awarded the contract to operate, expand, and maintain the Pampulha Airport for thirty (30) years.
- Because of the COVID-19 pandemic, the authorities have imposed several social distancing measures and free movement restrictions, which impacted demand and, consequently, CCR's 3Q21 results. For more details, please refer to the "COVID-19" section of this earnings release and Note 1.1 of the Quarterly Information.
- Same-basis adjustments are described in the same-basis comparison section.
IFRS |
Proforma |
|||||
Financial Indicators (R$ MM) |
3Q20 |
3Q21 |
Chg % |
3Q20 |
3Q21 |
Chg % |
Net Revenues1 |
2,228.9 |
2,573.1 |
15.4% |
2,324.4 |
2,723.1 |
17.2% |
Adjusted Net Revenues on the same |
2,228.9 |
2,535.9 |
13.8% |
2,324.4 |
2,685.5 |
15.5% |
Adjusted EBIT3 |
630.8 |
876.2 |
38.9% |
656.5 |
957.3 |
45.8% |
Adjusted EBIT Mg.4 |
28.3% |
34.0% |
5.8 p.p. |
28.2% |
35.2% |
6.9 p.p. |
Adjusted EBITDA5 |
1,331.3 |
1,611.8 |
21.1% |
1,396.6 |
1,724.1 |
23.4% |
Adjusted EBITDA Mg.4 |
59.7% |
62.6% |
2.9 p.p. |
60.1% |
63.3% |
3.2 p.p. |
Adjusted EBITDA on the same basis2 |
1,333.0 |
1,600.2 |
20.0% |
1,398.3 |
1,712.4 |
22.5% |
Adjusted EBITDA Mg. on the same |
59.8% |
63.1% |
3.3 p.p. |
60.2% |
63.8% |
3.6 p.p. |
Net Income |
118.3 |
183.9 |
55.5% |
118.3 |
183.9 |
55.5% |
Net Income on the same basis2 |
117.9 |
180.9 |
53.4% |
117.9 |
180.9 |
53.4% |
Net Debt / Adjusted EBITDA LTM (x)6 |
2.7 |
2.4 |
2.8 |
2.5 |
||
Adjusted EBITDA5 / Interest and |
4.6 |
3.8 |
4.2 |
3.7 |
||
IFRS |
Proforma |
|||||
Financial Indicators (R$ MM) |
9M20 |
9M21 |
Chg % |
9M20 |
9M21 |
Chg % |
Net Revenues1 |
6,383.8 |
8,340.6 |
30.7% |
6,684.6 |
8,730.2 |
30.6% |
Adjusted Net Revenues on the same |
6,383.8 |
7,139.9 |
11.8% |
6,684.6 |
7,529.5 |
12.6% |
Adjusted EBIT3 |
1,646.1 |
2,957.5 |
79.7% |
1,741.9 |
3,154.8 |
81.1% |
Adjusted EBIT Mg.4 |
25.8% |
35.5% |
9.7 p.p. |
26.1% |
36.1% |
10.1 p.p. |
Adjusted EBITDA5 |
3,651.8 |
5,528.1 |
51.4% |
3,859.8 |
5,808.3 |
50.5% |
Adjusted EBITDA Mg.4 |
57.2% |
66.3% |
9.1 p.p. |
57.7% |
66.5% |
8.8 p.p. |
Adjusted EBITDA on the same basis2 |
3,653.5 |
4,366.4 |
19.5% |
3,861.5 |
4,646.6 |
20.3% |
Adjusted EBITDA Mg. on the same basis4 |
57.2% |
61.2% |
4.0 p.p. |
57.8% |
61.7% |
3.9 p.p. |
Net Income |
265.9 |
828.8 |
211.7% |
265.9 |
828.8 |
211.7% |
Net Income on the same basis2 |
265.1 |
601.4 |
126.9% |
265.1 |
601.4 |
126.9% |
Net Debt / Adjusted EBITDA LTM (x)6 |
2.7 |
2.4 |
2.8 |
2.5 |
||
Adjusted EBITDA5 / Interest and Monetary |
4.0 |
5.2 |
3.8 |
5.0 |
||
- 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.
- To calculate the Net Debt / Adjusted EBITDA ratio, the Adjusted EBITDA was used as of 1Q21, and the operating adjusted EBITDA was used for the other periods (as disclosed in previous earnings releases).
Conference Calls/Webcast
Access to the conference calls/webcasts:
Conference call in Portuguese with simultaneous translation into English:
Friday, November 12, 2021
3:30 p.m. São Paulo / 1:30 p.m. New York
Participants calling from Brazil: (11) 4090-1621 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
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
Caique Moraes: (+55 11) 3048-2108
SOURCE CCR S.A.
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