CCR S.A.: Results for the 4th Quarter and the Year of 2013
SAO PAULO, March 12, 2014 /PRNewswire/ -- CCR S.A. (CCR), Brazil's largest road concession operator in terms of revenue, announces its results for the fourth quarter (4Q13) and the year of 2013.
Highlights
- Consolidated traffic grew by 8.4% in 4Q13 and 6.0% in 2013.
- The number of STP (electronic payment) users increased by 14.1% over December 2012, reaching 4,303,000 active tags.
- Same-basis² adjusted EBITDA increased by 10.3% in 4Q13 and 12.8% in 2013, with margins of 65.3% and 65.7%, respectively.
- The Company received the net amount of R$95.0 million from the sale of interest in STP, corresponding to approximately 4.012% of its capital stock.
Financial Indicators (R$ MM) |
4Q12 |
4Q13 |
Chg % |
2012 |
2013 |
Chg % |
|
Net Revenues1 |
1,250.3 |
1,376.4 |
10.1% |
4,659.0 |
5,206.5 |
11.8% |
|
Adjusted Net Revenues on the same basis2 |
1,250.3 |
1,355.5 |
8.4% |
4,659.0 |
5,154.4 |
10.6% |
|
EBIT |
624.3 |
754.6 |
20.9% |
2,318.5 |
2,672.2 |
15.3% |
|
Adjusted EBIT Mg.3 |
49.9% |
54.8% |
+4.9 p.p. |
49.8% |
51.3% |
+1.5 p.p. |
|
EBIT on the same basis2 |
624.3 |
762.2 |
22.1% |
2,318.5 |
2,677.4 |
15.5% |
|
EBIT Mg. on the same basis2 |
49.9% |
56.2% |
+6.3 p.p. |
49.8% |
51.9% |
+2.1 p.p. |
|
Adjusted EBITDA4 |
802.9 |
977.1 |
21.7% |
3,002.1 |
3,486.1 |
16.1% |
|
Adjusted EBITDA Mg.3 |
64.2% |
71.0% |
+6.8 p.p. |
64.4% |
67.0% |
+2.6 p.p. |
|
Adjusted EBITDA on the same basis2 |
802.9 |
885.7 |
10.3% |
3,002.1 |
3,386.4 |
12.8% |
|
Adjusted EBITDA Mg. on the same basis2 |
64.2% |
65.3% |
+1.1 p.p. |
64.4% |
65.7% |
+1.3 p.p. |
|
Net Income |
347.5 |
306.4 |
-11.8% |
1,177.3 |
1,351.0 |
14.8% |
|
Net Debt / Adjusted EBITDA LTM (x) |
2.2 |
2.0 |
- |
2.2 |
2.0 |
- |
|
Adjusted EBITDA / Performed investments (x) |
2.8 |
2.7 |
- |
3.9 |
3.5 |
- |
|
Adjusted EBITDA / Interest and Monetary Variation (x) |
6.2 |
5.2 |
- |
5.0 |
5.8 |
- |
1 Net operating revenue excludes construction revenue.
2 Adjustment excluding Metro Bahia, Curacao and the non-recurring effect from the sale of the interest in STP.
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 Calculation excludes non-cash expenses: depreciation and amortization, the provision for maintenance and the recognition of prepaid concession expenses.
Upcoming Events
Conference Calls
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In Portuguese: |
In English: |
Thursday, March 13, 2014 |
Thursday, March 13, 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 |
Telephones: (+55 11) 4688-6361 |
Brazil: (+55 11) 4688-6361 |
Code: CCR |
Other Countries: (+1) 786-924-6977 |
Replay: (+55 11) 4688-6312 |
US: (+1) 888-700-0802 |
Code: 8988691# |
Code: CCR |
Replay: (+55 11) 4688-6312 |
|
Code: 4295166# |
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Webcast: www.ccr.com.br/investidores |
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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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