CCR: Results for 2nd Quarter 2011
(firmenpresse) - SAO PAULO, BRAZIL -- (Marketwire) -- 08/11/11 -- (BOVESPA: CCRO3), Brazil's largest road concession operator in terms of revenue, announces its results for the second quarter of 2011.
The Quarterly Financial Statements (ITR) were prepared and are being presented in accordance with accounting practices adopted in Brazil for the Parent Company ("CPC") and according to the International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB") for the Consolidated results, as well as pursuant to the conditions contained in Brazilian Corporate Law, the standards defined by the Securities Exchange Commission ("CVM"), and the Statements, Guidelines and Interpretations, issued by the Accounting Statements Committee ("CPC"), consistently applied to the Accounting Statements according to the accounting practices described in Explanatory Note 3 of this quarterly report regarding the information contained herein.
Unless otherwise stated, the financial and operational information contained below are presented on a consolidated basis in thousands of Reais (R$) pursuant to Brazilian Corporate Law and the comparisons refer to 2Q10 and 1S10. Non-financial information, as well as other operating information was not subject to review by the independent auditors.
Net Revenue was R$ 1,080.2 million 2Q11 (+20.1%) and R$ 2,123.6 (+22.3%) in 1H11. SPVias contributed with R$ 87.8 million of this total in 2Q11.
EBIT totaled R$ 481.5 million (+2.4%) in 2Q11 and in 1H11 reached R$ 965.0 million (+6.5%). The EBIT margin reached 44.6% (+4.2 p.p.) in 2Q11, and 45.4% (+4.2 p.p.) in 1H11. Excluding the maintenance provision, the pro forma EBIT was R$ 528.0 million in 2Q11 and R$ 1,064.8 million in 1H11 with an pro forma EBIT margin of 48.9% and 50.1%, respectively.
EBITDA was R$ 661.0 million (+20.9%) in 2Q11 and R$ 1,323.0 million (+22.8%) in 1H11; the EBITDA margin was 61.2% (+0.4 p.p.) in 2Q11 and 62.3% (+0.3 p.p.) in 1H11.
Consolidated traffic grew 12.3% in 2Q11 and 14.6% during 1H11. On comparable bases, traffic reported growth of 5.9% in 2Q11 and 7.2% during 1H11.
The number of AVI (electronic toll system) users increased by 32.5%, to a total of 2,871,000 active tags.
The company's management proposed the distribution of intermediate dividends of R$ 1.59 per share, for a total of R$ $701.8 million.
The company's results include the impacts of Controlar, ViaQuatro and SPVias, projects that have recently been incorporated and/or are in a ramp-up phase.
"It is with great satisfaction that we once again present to our shareholders, the market, employees, users and the public in general with the results obtained by CCR for the second quarter of 2001.
"Industrial production declined 0.7% during this quarter, compared to 1Q11. Nevertheless, we still posted substantial increases in the traffic on our highways, registering a growth of 12.3% compared to the same period last year. On a comparable basis (same concessions), the growth was 5.9%.
"This performance made it possible for CCR to continue to meet its commitment to distribute dividends to its shareholders with the proposal to pay intermediate dividends of R$1.59 per share, for a total of R$ 701.8 million in line with the company's solid financial position.
"We continue to be encouraged by the economic outlook for Brazil and in the potentials for infrastructure development and infrastructure, in addition to the expectation of new opportunities for growth as a result of the 2014 World Cup and the Olympic Games in 2016, while always giving priority to capital discipline and, consequently, the creation of value for the Company and its shareholders, and in this way contributing to the socioeconomic development of our country."
Friday, August 12, 2011
12h30 p.m. São Paulo / 11h30 a.m. New York
Telephone: 55 11 4688-6361
Code: CCR
Replay: 55 11 4688-6312
Code: 1922077
Friday, August 12, 2011
14h00 p.m. São Paulo / 13h00 p.m. New York
Brasil: 55 11 4688-6361
USA: (+1) 888-700-0802
Other Countries: (+1) 786-924-6977
Code: CCR
Replay: 55 11 4688-6312 / Code: 5384143
Webcast:
Marcus Macedo
55 11 3048-5941
Flavia Godoy
55 11 3048-5955
Danilo Cabrera
55 11 3048-6353
Site:
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Datum: 12.08.2011 - 03:29 Uhr
Sprache: Deutsch
News-ID 45485
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SAO PAULO, BRAZIL
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Cars
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