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CCR S.A.: Results for the 3rd Quarter 2012

Date : 11/13/2012 @ 4:20AM
Source : Marketwired

CCR S.A.: Results for the 3rd Quarter 2012


CCR S.A. (CCR) (BOVESPA: CCRO3), Brazil's largest road concession operator in revenue terms, hereby presents its results for the third quarter of 2012.

Highlights

  • Net Revenue totaled R$ 1,391.5 million in 3Q12 (+13.3%) and R$ 3,784.8 million (+12.9%) for 9M12.
  • EBIT was R$ 647.0 million (-0.8%) in 3Q12 and for 9M12 reached R$ 1,817.8 million (+12.4%). The EBIT margin was 46.5% (-6.6 p.p.) in 3Q12, and 48.0% (-0.2 p.p.) in 9M12.
  • EBITDA was R$ 860.1 million (+4.5%) in 3Q12 and R$ 2,390.0 million (+11.4%); the EBITDA margin was 61.8% (-5,2 p.p.) in 3Q12 and 63.1% (-0.9 p.p.) in 9M12.
  • Consolidated traffic increased by 3.1% in 3Q12 and 2.8% in 9M12.
  • Net income was R$ 316.8 million (+18.9%) in 3Q12 and R$ 829.7 million (+37.2%) in 9M12, helped by increased cash generation and lower financial expenses.
  • The number of STP (electronic toll system) users increased by 18.2% when compared to September 2011, reaching 3,604,000 active tags.
  • Company's management approved the distribution of intermediate dividends of R$ 0.54 per share, for a total of R$ 953.4 million, whose payout began October 31, 2012.
  • The Company's results incorporate Barcas S.A. as of July 2, 2012 and the International Airport of San José (approximately 48.75%), starting September 10, 2012.

Subsequent Events

On October 31, 2012, it was initiated payment of intermediate dividends, approved at the meeting of the Board of Directors held September 28, 2012. The amount totals R$ 953,417,088.00, corresponding to R$ 0.54 (fifty-four centavos of the real) per share. These intermediate dividends are based on the share base as of September 28, 2012, and the Company's stock was traded ex-dividends as of October 1, 2012.

In October 2012, AutoBan concluded its 4th issue of debentures, in two series, in the amount of R$ 1.1 billion, making it possible to stretch out its short-term debt.

Of this amount, R$ 135 million was issued in the form of Infrastructure Incentive Debentures, based on Law 12.431, the first issue of this type, widely distributed. This series has final maturity in October 2017 and will pay semiannual remuneration of the IPCA+2.71% p.a.

The other series, in the amount of R$ 965 million, has quarterly amortizations as of the 38th month, with final maturity in September 2017 and will pay quarterly remuneration of 109% of the CDI p.a.

Also on October 22, 2012, CCR concluded the acquisition of ownership interests in the International Airport of Curaçao through the investment of US$ 24,500,000.00.

Comments from the CEO

Renato Alves Vale: "It is with great satisfaction that we are reporting the results obtained by CCR in 3Q12 to our shareholders, the market, employees, users and our various interested audience.

"In line with the trend of industrial production that began in July, rising 1.5% for the period comprising July to August 2012, our traffic registered 3% increase compared to 3Q11, demonstrating strong recovery that, associated with the continuous decline in interest rates contributed to improving our financial results and, consequently, to the 18.9% growth in our net income, reaching R$ 316.8 million during this quarter.

"Supported by the strong performance and our solid financial position, we are continuing to follow our commitment to distribute dividends to shareholders and we were able to initiate a payout of R$ 0.54 per share on October 31, 2012 so that, added to the dividends paid in April this year, CCR reached more than R$ 1 billion distributed to shareholders in 2012.

"It is important to highlight that 3Q12 was notable for the conclusion of the acquisition process initiated in April 2012 of two new businesses: the Airport of San José, in Costa Rica, and the airport of Curaçao, in the Dutch Antilles, in continuity with our qualified growth strategy, always based on capital discipline.

"We continue to be encouraged by the excellent prospects for the future, due to the promising economic scenario in Brazil and the expectation of various opportunities for growth, especially due to the World Cup soccer championships (2014) and the Olympic Games (2016) in Rio de Janeiro, always prioritizing value generation to our shareholders and contributing to the promotion of sustainable development through the improvement in infrastructure."

Forthcoming Events

Conference Calls In Portuguese: Tuesday, November 13, 2012 10:30 a.m. São Paulo / 7:30 a.m. New York Telephone: (11) 4706-0951 Code: CCR Replay: (11) 4688-6312 Code: 8777551#

Webcast: www.grupoccr.com.br/investidores

In English: Tuesday, November 13, 2012 11:30 a.m. São Paulo / 8:30 a.m. New York Brazil: (11) 4706-0951 Code: CCR Other Countries: (+1) 786-924-6977 US: (+1) 855 281-6021 Replay: (11) 4688-6312 Code: 3118231# Webcast: www.grupoccr.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



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