CCR Announces Results for the 3rd Quarter of 2009

CCR Announces Results for the 3rd Quarter of 2009

  PR Newswire

  SAO PAULO, Nov. 12

SAO PAULO, Nov. 12 /PRNewswire/ -- Companhia de Concessoes Rodoviarias (CCR),
Brazil's largest road concession operator in terms of revenue, announces its
results for the 3rd quarter of 2009.

Unless otherwise stated, all financial and operating data herein are presented
on a consolidated basis in Reais (R$) pursuant to Brazilian Corporate Law and
all comparisons refer to the 3Q08 and 9M08.

The results of Renovias, RodoAnel Oeste and Controlar were included into CCR
as of June 2008, December 2008 and August 13, 2009, respectively. The
financial information excluding the effects of these incorporations are herein
referred to as "Excluding Renovias, RodoAnel and Controlar" and the results
are pro forma.

HIGHLIGHTS

-- Net Revenue stood at R$ 795.2 million (+6.9%) in the 3Q09 and R$ 2,248.0
million (+12.4%) in the 9M09. Excluding Renovias, RodoAnel and Controlar, Net
Revenue totaled R$ 737.1 million (+2.0%) in the 3Q09 and R$ 2,100.5 million
(+6.5%) in the 9M09.

-- EBIT totaled R$ 400.8 million (+3.2%) in the 3Q09 and R$ 1,098.5 million
(+10.6%) in the 9M09. The EBIT margin reached 50.4% (-1.8 p.p.) in the 3Q09
and 48.9% (-0.7 p.p.) in the 9M09. Excluding Renovias, RodoAnel and Controlar,
EBIT totaled R$ 379.4 million in the 3Q09 and R$ 1,049.4 million in the 9M09.

-- EBITDA totaled R$ 518.7 million (+7.5%) in the 3Q09 and $ 1,440.1 million
in the 9M09 (+14.2%). The EBITDA margin reached 65.2% (+0.4 p.p.) in the 3Q09
and 64.1% (+1.0 p.p.) in the 9M09. Excluding Renovias, RodoAnel and Controlar,
EBITDA came to R$ 473.7 million in the 3Q09 and R$ 1,331.1 million in the
9M09.

-- Net Income totaled R$ 185.0 million (-15.7%) in the 3Q09 and R$ 522.8
million (-0.1%) in the 9M09. Excluding Renovias, RodoAnel and Controlar, Net
Income totaled R$ 208.1 million in the 3Q09 and R$ 596.3 million in the 9M09.

-- Traffic grew by 14.5% in the 3Q09 and 16.3% in the 9M09. Excluding
Renovias, RodoAnel and Controlar Oeste, traffic edged down by -1.7% in the
3Q09 and -1.3% in the 9M09.

-- The number of AVI users (electronic toll system) rose 44.6% compared to the
3Q08, totaling 1,675,000 active tags.

-- On August 13, 2009, the Company's subsidiary Companhia de Participacoes em
Concessoes (CPC) concluded the steps stipulated in the Purchase Agreement
entered into on February 9, 2009, and now retains 45% (forty-five percent) of
Controlar.

-- On September 30, 2009, CCR paid dividends in the amount of R$ 1.26 per
share, totaling R$ 507.9 million.

-- On October 21, 2009, the Board of Directors approved a capital increase of
R$ 1,098.9 million through the issue of 33,300,000 common shares at R$ 33.00
per share, with financial settlement on October 27, 2009. The number of shares
may be increased by up to 15%, if the over-allotment option is exercised

    -- On November 27, 2009, CCR will hold its 5th CCR Day.


    Financial Highlights
    (R$ MM)          3Q08     3Q09  Change %     9M08       9M09   Change %
                 Reclassified                 Reclassified
    Net Revenue      744.1    795.2   6.9%      1,999.8    2,248.0  12.4%
    EBIT             388.4    400.8   3.2%        992.9    1,098.5  10.6%
    EBIT Margin      52.2%    50.4%   -1.8 p.p.   49.6%      48.9%   -0.7 p.p.
    EBITDA           482.3    518.7   7.5%      1,261.0    1,440.1  14.2%
    EBITDA Margin    64.8%    65.2%   +0.4 p.p.   63.1%      64.1%   +1.0 p.p.
    Net Income       219.4    185.0 -15.7%        523.5      522.8  -0.1%
    Net Debt /       1.43x    2.06x    -          1.43x      2.06x    -
     EBITDA LTM
    EBITDA / CAPEX   2.67x    1.87x    -          3.06x      2.10x    -
    EBITDA / Interest
     and Monetary
     Variation       7.24x    4.47x    -          5.80x      4.34x    -



COMMENTS FROM THE CEO

Renato Alves Vale: "It gives us great satisfaction to announce CCR's
substantial results for the third quarter of 2009 to our shareholders,
employees, users, stakeholders and the market.

"Following a first half marked by the effects of the global crisis and a
substantial economic slowdown, we believe the country's current industrial
figures, such as strong vehicle sales, increased capacity use and production
growth, indicate a much more favorable environment from now on and we are
confident regarding the future prospects.

"In addition, CCR's business model is based on assets that are highly
resistant to economic downturns, allowing it to fulfill its commitment of
paying dividends to shareholders. On September 30, we paid R$ 1.26 per share,
representing 97.1% of our year-to-date net income.

"We would like to reiterate our commitment to our shareholders and reaffirm
the CCR Group's business expansion and qualified growth strategy through
participation in new bids and the acquisition of existing highway concessions
and related businesses, always focused on capital discipline."

    UPCOMING EVENTS
    Conference Calls: Friday, November 13, 2009

    English:
    10:00 a.m. (EST) / 1:00 p.m. (Brazil time)
    Phone: +1 (973) 935-8893
    Replay: +1 (706) 645-9291
    Code: 38253972
    Webcast: www.grupoccr.com.br/ir

    Portuguese:
    8:30 a.m. (EST) / 11:30 a.m. (Brazil time)
    Phone: 11 2101-4848
    Replay: 11 2101-4848
    Code: CCR
    Webcast: www.grupoccr.com.br/ri

    IR CONTACTS:
    Marcus Macedo +55 11 3048-5941
    Flavia Godoy +55 11 3048-5955
    Danilo Cabrera +55 11 3048-6353

SOURCE Companhia de Concessoes Rodoviarias

Website: http://www.grupoccr.com.br/ir
Contact: IR Contacts, Marcus Macedo, +011-55-11-3048-5941, or Flavia Godoy,
+011-55-11-3048-5955, or Danilo Cabrera +011-55-11-3048-6353, all of CCR
 
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