CCR – Results for the 4th quarter of 2017

February 22, 2018 | By forimmediaterelease.net - | Filed in: Press Releases.

SAO PAULO, Feb. 22, 2018 /PRNewswire/ — CCR S.A. (CCR), Brazil’s largest road concession operator in terms of revenues, announces its results for the fourth quarter of 2017.

4Q17 Highlights

  • Consolidated traffic grew by 4.4%. 
  • Same-basis* adjusted EBITDA increased by 17.9%, with an adjusted margin of 61.3% (+2.9 p.p.). Adjusted EBITDA grew by 25.5%, with a margin of 61.3% (+2.9 p.p.).
  • Same-basis* net income totaled R$425.0 million, 162.7% up. Net income totaled R$329.1 million, 94.2% up.
  • The Company’s Board of Executive Officers proposed the distribution of additional dividends in the amount of approximately R$0.20 per share, to be approved at the 2018 Annual Shareholders’ Meeting.

* The definitions of “same-basis” are described below the following table.

IFRS

Proforma

Financial Indicators (R$ MM)

4Q16

4Q17

Chg %

4Q16

4Q17

Chg %

Net Revenues1

1,690.7

2,021.1

19.5%

1,895.3

2,178.8

15.0%

Adjusted Net Revenues on the same basis2

1,690.7

1,900.7

12.4%

1,823.2

2,040.6

11.9%

Adjusted EBIT3

601.5

883.3

46.9%

690.6

950.6

37.6%

Adjusted EBIT Mg.4

35.6%

43.7%

8.1 p.p.

36.4%

43.6%

7.2 p.p.

EBIT on the same basis2

601.5

820.4

36.4%

659.5

882.5

33.8%

EBIT Mg. on the same basis2

35.6%

43.2%

7.6 p.p.

36.2%

43.2%

7.1 p.p.

Adjusted EBITDA5

988.0

1,239.6

25.5%

1,112.2

1,342.4

20.7%

Adjusted EBITDA Mg.4

58.4%

61.3%

2.9 p.p.

58.7%

61.6%

2.9 p.p.

Adjusted EBITDA on the same basis2

988.0

1,164.8

17.9%

1,073.3

1,257.3

17.1%

Adjusted EBITDA Mg. on the same basis2

58.4%

61.3%

2.9 p.p.

58.9%

61.6%

2.7 p.p.

Net Income

169.5

329.1

94.2%

169.5

329.1

94.2%

Net Income on the same basis2

161.8

425.0

162.7%

161.8

425.0

162.7%

Net Debt / Adjusted EBITDA LTM (x)6

2.5

2.3

2.4

2.3

Adjusted EBITDA / Performed investments (x)

0.5

0.8

0.6

0.7

Adjusted EBITDA / Interest and Monetary Variation (x)

2.7

5.2

2.9

5.1

1 Net revenue excludes construction revenue.

2 Same-basis figures exclude: (i) the non-recurring effect of SPVias adherence to PERT in 4Q17, of R$97.8 million on the financial result and R$139.7 million on net income; (ii) ViaQuatro, which became a subsidiary in 2Q17; (iii) ViaRio, in which CCR’s stake has increased from 33.33% to 66.66% since 2Q17, in profit and proforma comparisons, in addition to the items previously mentioned.

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 EBIT and EBITDA by net revenue, excluding construction revenue, as required by IFRS.

5 Calculated excluding non-cash expenses: depreciation and amortization, provision for maintenance and the recognition of prepaid concession expenses.

6 LTM 4Q17 adjusted EBITDA includes non-recurring effects of the acquisition of stakes in ViaQuatro and ViaRio (R$548.1 million). Excluding these effects on EBITDA, the Net Debt/EBITDA ratio came to 2.6x (2.5x in proforma figures) in December 2017.

Conference Calls/Webcast

Access to the conference calls/webcasts:

Conference call in Portuguese:
Friday, February 23, 2018
11:00 a.m. São Paulo / 09:00 a.m. New York

Participants calling from Brazil: (11) 3193-1001 or (11) 2820-4001
Access code: CCR
Replay: (11) 3193-1012 or (11) 2820-4012
Code: 2211008#

Conference call in English:

Friday, February 23, 2018
12:00 p.m. São Paulo / 10:00 a.m. New York

Participants calling from Brazil: (55 11) 3193-1001 or (55 11) 2820-4001
Participants calling from the United States: 1-800-492-3904 or (+1) 646 828-8246
Access code: CCR
Replay: (11) 3193-1012 or (11) 2820-4012
Code: 6282781#

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
Marcela Dias (+55 11) 3048-2108

Cision View original content:http://www.prnewswire.com/news-releases/ccr—results-for-the-4th-quarter-of-2017-300603164.html

SOURCE CCR S.A.

Related Links

http://www.ccr.com.br


To post and circulate your own press release on FIR and the eTN Network  please click here 

 


Comments are closed here.