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CCR - Results for the 4th quarter of 2019

SÃO PAULO, March 5, 2020 /PRNewswire/ -- CCR S.A. (CCR), one of Latin America's largest infrastructure concession groups, discloses its results for the 4th quarter of 2019.

Highlights 4Q19 vs. 4Q18

  • Consolidated traffic increased 7.8%. Excluding ViaSul, the increase was 3.0%.

  • Same-basis* adjusted EBITDA grew 19.6%, accompanied by a margin of 63.9% (+2.8 p.p.).

  • Same-basis* net income totaled R$499.2 million, 3.0% down. 

  • On February 21, 2020, CCR informed its shareholders and the market in general that the Commission responsible for the bidding process object of Concession Notice 02/2019, promoted by the Federal Government through the National Land Transportation Agency (Agência Nacional de Transportes Terrestres), declared that the Company won the bid for the concession for infrastructure and public services of recovery, operation, maintenance, monitoring, conservation, implementation of improvements, expansion and maintenance of the service level of the BR-101/SC stretch between Paulo Lopes (km 244 +680) and the border between the states of Santa Catarina and Rio Grande do Sul (km 465+100), pending award of the CONCESSION.


           *The same-basis adjustments are described in the same-basis comparison section.

 


IFRS

Proforma

Financial Indicators (R$ MM)

4Q18

4Q19

Chg %

4Q18

4Q19

Chg %

Net Revenues1

2,233.5

2,645.0

18.4%

2,386.3

2,793.6

17.1%

Adjusted Net Revenues on the same basis2

2,233.5

2,554.7

14.4%

2,376.7

2,703.3

13.7%

Adjusted EBIT3

(24.4)

903.6

n.m.

44.8

975.1

n.m.

Adjusted EBIT Mg.4

-1.1%

34.2%

35.3 p.p.

1.9%

34.9%

33.0 p.p.

Adjusted EBITDA5

535.3

1,500.8

180.4%

640.4

1,605.2

150.7%

Adjusted EBITDA Mg.4

24.0%

56.7%

32.7 p.p.

26.8%

57.5%

30.7 p.p.

Operating adjusted EBITDA6

1,346.5

1,477.1

9.7%

1,451.5

1,581.5

9.0%

Operating adjusted EBITDA Mg.4

60.3%

55.8%

-4.5 p.p.

60.8%

56.6%

-4.2 p.p.

Adjusted EBITDA on the same basis2

1,365.1

1,633.1

19.6%

1,465.3

1,737.5

18.6%

Adjusted EBITDA Mg. on the same basis2

61.1%

63.9%

2.8 p.p.

61.7%

64.3%

2.6 p.p.

Net Income

(307.1)

392.6

n.m.

(307.1)

392.6

n.m.

Net Income on the same basis2

514.7

499.2

-3.0%

514.7

499.2

-3.0%

Net Debt / Adjusted EBITDA LTM (x)

2.8

2.4


2.7

2.4


Adjusted EBITDA5 / Interest and Monetary Variation (x)

1.6

5.2


1.8

5.0



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.

 

Conference Calls/Webcast

Access to the conference calls/webcasts:

Portuguese conference call with simultaneous translation into English:

Friday, March 6, 2020
11:00 a.m. São Paulo / 09:00 a.m. New York

Participants calling from Brazil: (+55 11) 3193-1080 (+55 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/ri.

IR Contacts

Marcus Macedo (+55 11) 3048-5941
Flávia Godoy: (+55 11) 3048-5955
Caique Moraes (+55 11) 3048-2108

Cision

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SOURCE CCR S.A.