CCR - Results for the 3rd quarter of 2022

Brazil - Português

News provided by

Nov 10, 2022, 20:19 ET

SÃO PAULO, Nov. 10, 2022 /PRNewswire/ --

3Q22 X 3Q21 HIGHLIGHTS

Consolidated vehicle traffic, excluding NovaDutra, RioSP and RodoNorte, grew by 5.3% in the period.
The number of passengers transported in airports increased by 274.7% in the period. Excluding the South and Central Blocks, the increase was 41.9% in the period.
The number of passengers transported in the mobility business increased by 105.5% in the period. Excluding ViaMobilidade L8/9, the increase was 38.5% in the period.
Adjusted EBITDA grew by 45.1%, with a margin of 73.6% (+11.0 p.p.). Same-basis¹ adjusted EBITDA increased by 13.0%, with a margin of 62.7%
(-3.8 p.p.).
Net Income was R$606.5 million, versus R$183.9 million in 3Q21.
On the same base¹, Net Income was R$228.3 million, versus R$180 million in 3Q21.
On August 18, 2022, the Company disclosed a Material Fact announcing that it signed Collective Amendment and Modifying Instrument (TAM) 02/2022, whose object was to promote and establish the methodology for recovering the economic and financial balance of the São Paulo state highways' Concession Agreements, due to the gross revenue frustration caused by the failure to transfer the tariff increase on July 1st, 2022, and register that the tariff increase should occur by December 16, 2022.
On September 12, 2022, the Company disclosed a Material Fact announcing that it concluded the transfer of all shares issued by CCR, which were held by Andrade Gutierrez Participações S.A., to Itaúsa S.A. and Votorantim S.A.
On September 16, 2022, the Company disclosed a Material Fact announcing that it signed the Second Re-ratification of Amendment and Modifying Instrument (TAM) 21/2022, whose object is to extend the term of the Renovias concession agreement in 808 days, until August 29, 2024.
On September 22, 2022, the Company disclosed a Material Fact announcing that it signed Amendment and Modifying Instrument (TAM) 22/2022, whose object is to extend the term of the Renovias concession agreement in 45 days, until October 13, 2024.
On October 27, 2022, CCR informed its shareholders that it would begin paying dividends of around R$0.29 per common share on November 30, 2022.

1. Same-basis adjustments are described in the same-basis comparison section.

	IFRS			*Proforma*
Financial Indicators (R$ MM)	3Q21	3Q22	Chg %	3Q21	3Q22	Chg %
Net Revenues¹	2,573.1	3,175.2	23.4 %	2,723.1	3,484.4	28.0 %
Adjusted Net Revenues on the same basis²	2,040.5	2,446.3	19.9 %	2,190.0	2,631.2	20.1 %
Adjusted EBIT³	876.2	1,557.4	77.7 %	957.3	1,782.9	86.2 %
Adjusted EBIT Mg.⁴	34.0 %	49,0 %	15.0 p.p.	35.2 %	51,2 %	16.0 p.p.
Adjusted EBITDA⁵	1,611.8	2,338.1	45.1 %	1,724.1	2,606.0	51.2 %
Adjusted EBITDA Mg.⁴	62.6 %	73,6 %	11.0 p.p.	63.3 %	74,8 %	11.5 p.p.
Adjusted EBITDA on the same basis²	1,357.0	1,533.2	13.0 %	1,469.2	1,676.6	14.1 %
Adjusted EBITDA Mg. on the same basis⁴	66.5 %	62.7 %	-3.8 p.p.	67.1 %	63.7 %	-3.4 p.p.
Net Income	183.9	606.5	229.8 %	183.9	606.5	229.8 %
Net Income on the same basis²	180.0	228.3	26.8 %	180.0	228.3	26.8 %
Net Debt / Adjusted EBITDA LTM (x)	2.4	1.6		2.5	1.6
Adjusted EBITDA⁵ / Interest and Monetary Variation (x)	3.8	2.8		3.7	3.0

	IFRS			Proforma
Financial Indicators (R$ MM)	9M21	9M22	Chg %	9M21	9M22	Chg %
Net Revenues¹	8,340.6	14,282.3	71.2 %	8,730.2	14,924.7	71.0 %
Adjusted Net Revenues on the same basis²	5,519.4	6,941.0	25.8 %	5,909.2	7,436.7	25.8 %
Adjusted EBIT³	2,957.5	9,234.8	212.3 %	3,154.8	9,655.7	206.1 %
Adjusted EBIT Mg.⁴	35.5 %	64,7 %	29.2 p.p.	36.1 %	64,7 %	28.6 p.p.
Adjusted EBITDA⁵	5,528.1	11,025.8	99.5 %	5,808.3	11,551.6	98.9 %
Adjusted EBITDA Mg.⁴	66.3 %	77,2 %	10.9 p.p.	66.5 %	77,4 %	10.9 p.p.
Adjusted EBITDA on the same basis²	3,527.9	4,405.4	24.9 %	3,808.3	4,784.1	25.6 %
Adjusted EBITDA Mg. on the same basis⁴	63.9 %	63.5 %	-0.4 p.p.	64.4 %	64.3 %	-0.1 p.p.
Net Income	828.8	4,350.2	424.9 %	828.8	4,350.2	424.9 %
Net Income on the same basis²	679.4	304.2	-55.2 %	679.4	304.2	-55.2 %
Net Debt / Adjusted EBITDA LTM (x)	2.4	1.6		2.5	1.6
Adjusted EBITDA⁵ / Interest and Monetary Variation (x)	5.2	4.6		5.0	4.6

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 adjusted EBIT and EBITDA margins were calculated by dividing adjusted EBIT and EBITDA by net revenue, excluding construction revenue.
5. 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, November 11, 2022
2:00 p.m. São Paulo / 12:00 p.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) 3048-5900
Douglas Ribeiro: (+55 11) 3048-5900
Cauê Cunha: (+55 11) 3048-5900
Caique Moraes: (+55 11) 3048-5900

SOURCE CCR S.A.