SYS-CON MEDIA Authors: Pat Romanski, Elizabeth White, Sean Houghton, Glenn Rossman, Ignacio M. Llorente

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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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