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CCR - Results for the 3rd quarter of 2019

SÃO PAULO, Oct. 28, 2019 /PRNewswire/ -- CCR S.A. (CCR), one of Latin America's largest infrastructure concession groups, discloses its results for the 3rd quarter of 2019.

Highlights 3Q19 vs. 3Q18

  • Consolidated traffic increased 6.0%. Excluding ViaSul, the increase was 2.0%.
  • Operating adjusted EBITDA* rose 17.6%, with margin of 61.4% (+1.2 p.p.).
  • Same-basis** net income totaled R$ 352.1 million, 3.0% down. 


* The definitions of "operating adjusted EBITDA" are described below the following table.


**The same-basis adjustments are described in the same-basis comparison section on the complete 3Q19 release available at www.ccr.com.br/ir

 


IFRS


Proforma

Financial Indicators (R$ MM)

3Q18

3Q19

Chg %


3Q18

3Q19

Chg %

Net Revenues1

2,090.3

2,409.6

15.3%


2,310.8

2,588.0

12.0%

Adjusted Net Revenues on the same basis2

2,064.0

2,205.5

6.9%


2,156.0

2,271.8

5.4%

Adjusted EBIT3

765.5

920.8

20.3%


857.0

967.0

12.8%

Adjusted EBIT Mg.4

36.6%

38.2%

1.6 p.p.


37.1%

37.4%

-0.3 p.p.

Adjusted EBITDA5

1,258.1

1,527.6

21.4%


1,393.1

1,607.7

15.4%

Adjusted EBITDA Mg.4

60.2%

63.4%

3.2 p.p.


60.3%

62.1%

1.8 p.p.

Operating adjusted EBITDA6

1,258.1

1,480.0

17.6%


1,393.1

1,560.0

12.0%

Operating adjusted EBITDA Mg.4

60.2%

61.4%

1.2 p.p.


60.3%

60.3%

-

Adjusted EBITDA on the same basis2

1,307.0

1,388.3

6.2%


1,374.7

1,443.1

5.0%

Adjusted EBITDA Mg. on the same basis2

63.3%

62.9%

-0.4 p.p.


63.8%

63.5%

-0.3 p.p.

Net Income

365.3

340.2

-6.9%


365.3

340.2

-6.9%

Net Income on the same basis2

363.1

352.1

-3.0%


363.1

352.1

-3.0%

Net Debt / Adjusted EBITDA LTM (x)

2.6

2.3



2.6

2.3


Adjusted EBITDA5 / Interest and Monetary Variation (x)

4.3

5.3



4.5

4.9



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 operating adjusted EBIT and EBITDA margins were calculated by dividing operating adjusted EBIT and EBITDA by net revenue, excluding construction revenue.

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

6 In addition to non-cash expenses, revenues and/or non-operating non-cash expenses are excluded from adjusted EBITDA.

 

Subsequent Event

On October 15, 2019, we announced that we will begin paying interim dividends of around R$0.46 per common share on October 31, 2019.

Conference Calls/Webcast

Access to the conference calls/webcasts:

Portuguese conference call with simultaneous translation into English:
October 29, 2019
11:00 a.m. São Paulo / 10:00 a.m. New York

Participants calling from Brazil: (11) 3193-1080 or (11) 2820-4080 
Participants calling from the US: 1-646 828-8246 or (+1) 800 492-3904 
Access Code: CCR
Replay: (11) 3193-1012 or (11) 2820-4012
Code: 6613150# 

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
Caique Moraes (+55 11) 3048-2108

Cision

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