CCR: Results for the 2nd quarter of 2014

                   CCR: Results for the 2nd quarter of 2014

PR Newswire

SAO PAULO, Aug. 11, 2014

SAO PAULO, Aug. 11, 2014 /PRNewswire/ --CCR S.A. (CCR), Brazil's largest road
concession operator in terms of revenue, announces its results for the second
quarter of 2014 (2Q14).

2Q14 Highlights

  oConsolidated traffic increased 3.9%.
  oThe number of STP (electronic payment) users climbed by 13.6% to 4,525,000
    active tags.
  oSame-basis² adjusted EBITDA increased by 4.1%, with an adjusted margin of
    63.8% (-0.3 p.p.). The same comparison on a proforma basis posted growth
    of 5.2%, with a margin of 63.9%.
  oSame-basis² net income totaled R$292.9 million, a 3.8% reduction in 2Q14.
  oCCR's Executive Board proposed the distribution of interim dividends of
    R$0.65 per share.

                          IFRS                      Proforma
Financial Indicators (R$  2Q13    2Q14    Chg %     2Q13    2Q14    Chg %
MM)
Net Revenues^1            1,246.8 1,317.7 5.7%      1,442.7 1,507.2 4.5%
Adjusted Net Revenues on  1,239.6 1,297.5 4.7%      1,414.7 1,487.0 5.1%
the same basis^2
EBIT                      589.0   563.0   -4.4%     668.4   653.4   -2.2%
Adjusted EBIT Mg.^3       47.2%   42.7%   -4.5 p.p. 46.3%   43.4%   -2.9 p.p.
EBIT on the same basis^2  588.8   597.4   1.5%      667.4   690.7   3.5%
EBIT Mg. on the same      47.5%   46.0%   -1.5 p.p. 47.2%   46.4%   -0.8 p.p.
basis^2
Adjusted EBITDA^4         797.0   797.5   0.1%      908.0   916.9   1.0%
Adjusted EBITDA Mg.^3     63.9%   60.5%   -3.4 p.p. 62.9%   60.8%   -2.1 p.p.
Adjusted EBITDA on the    795.1   828.0   4.1%      903.5   950.1   5.2%
same basis^2
Adjusted EBITDA Mg. on    64.1%   63.8%   -0.3 p.p. 63.9%   63.9%   -
the same basis^2
Net Income                304.4   275.8   -9.4%     304.4   275.8   -9.4%
Net Income on the same    304.4   292.9   -3.8%     304.1   292.9   -3.7%
basis²
Net Debt / Adjusted       2.0     2.0     -         2.0     2.0     -
EBITDA LTM (x)
Adjusted EBITDA /         4.0     1.7     -         4.0     1.8     -
Performed investments (x)
Adjusted EBITDA /
Interest and Monetary     5.4     3.6     -         5.7     3.9     -
Variation (x)

1- Net revenue excludes construction revenue.

2- Adjustment excluding New Businesses, which are not operating yet (MSVia,
Metro Bahia and BH Airport) and Curacao International Airport. In addition, on
a proforma basis, it excludes Controlar, ViaRio and VLT.

3- The Adjusted EBIT and EBITDA margins were calculated by dividing EBIT and
EBITDA by net revenue, excluding construction revenue, as required by IFRS,
whose counter-entry of the same amount impacts total costs.

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

Upcoming Events

Conference Calls
In Portuguese:                           In English:
Tuesday, August 12, 2014                 Tuesday, August 12, 2014
11:00 a.m. Sao Paulo / 10:00 a.m. New    12:00 p.m. Sao Paulo / 11:00 a.m. New
York                                     York
Phones: (11) 3193-1001                   Brazil: (11) 3193-1001
(11) 2820-4001                           (11) 2820-4001
Code: CCR                                US: (+1) 888-700-0802
Replay: (11) 3193-1012                   Other countries: (+1) 786-924-6977
(11) 2820-4012                           Code: CCR
Code: 2094313#                           Replay: (11) 3193-1012
                                         (11) 2820-4012
                                         Code: 8932083#
Webcast: www.ccr.com.br/investidores

IR Contacts
Marcus Macedo (+55 11) 3048-5941
Flavia Godoy: (+55 11) 3048-5955
Daniel Kuratomi: (+55 11) 3048-6353
Leandro Mathias: (+55 11) 3048-2108

SOURCE CCR S.A.

Website: http://www.ccr.com.br/investidores
 
Press spacebar to pause and continue. Press esc to stop.