CCR - Results for the 3rd quarter of 2020
SO PAULO, Nov. 11, 2020 /PRNewswire/ --CCR S.A. (CCR), one of Latin America's largest infrastructure concession groups, discloses its results for the 3rd quarter of 2020.
SÃO PAULO, Nov. 11, 2020 /PRNewswire/ -- CCR S.A. (CCR), one of Latin America's largest infrastructure concession groups, discloses its results for the 3rd quarter of 2020.
Highlights 3Q20 vs. 3Q19
- Consolidated traffic decreased by 1.6%. Excluding ViaSul, it fell by 5.9% in the period. Despite the performance in the quarter, the recently disclosed volume of equivalent vehicles showed a recovery of consolidated traffic, which grew by 6.3% between October 23 and 29. Excluding ViaSul, it grew by 0.5%.
- Adjusted EBITDA decreased by 12.9%, with a margin of 59.7% (-3.7 p.p.). Same-basis1 adjusted EBITDA fell by 16.5%, with a margin of 59.8% (-4.0 p.p.).
- Net income totaled R$118.3 million, 65.2% down. Same-basis1 net income totaled R$93.3 million, 71.9% down.
- On September 28, 2020, CCR informed its shareholders that it would begin paying interim dividends of around R$0.18 per common share on October 30, 2020.
- In light of the COVID-19 pandemic, state and municipal governments have imposed several measures including social isolation and restrictions on the movement of people, which impacted demand and, consequently, CCR's 3Q20 results. For more details, please refer to the "COVID-19" section of this earnings release and notes 1.1 and 28 of the ITR.
1 - Adjustments on the same basis are described on the same basis section of the company´s earnings release, available at www.ccr.com, br/ri.
|
IFRS |
Proforma |
|||||
|
Financial Indicators (R$ MM) |
3Q19 |
3Q20 |
Chg % |
3Q19 |
3Q20 |
Chg % |
|
Net Revenues1 |
2,409.6 |
2,228.9 |
-7.5% |
2,588.0 |
2,324.4 |
-10.2% |
|
Adjusted Net Revenues on the same basis2 |
2,370.6 |
2,113.1 |
-10.9% |
2,529.5 |
2,208.5 |
-12.7% |
|
Adjusted EBIT3 |
920.8 |
630.8 |
-31.5% |
967.0 |
656.5 |
-32.1% |
|
Adjusted EBIT Mg.4 |
38.2% |
28.3% |
-9.9 p.p. |
37.4% |
28.2% |
-9.0 p.p. |
|
Adjusted EBITDA5 |
1,527.6 |
1,331.3 |
-12.9% |
1,607.7 |
1,396.6 |
-13.1% |
|
Adjusted EBITDA Mg.4 |
63.4% |
59.7% |
-3.7 p.p. |
62.1% |
60.1% |
-2.1 p.p. |
|
Adjusted EBITDA on the same basis2 |
1,513.2 |
1,263.3 |
-16.5% |
1,582.6 |
1,328.6 |
-16.0% |
|
Adjusted EBITDA Mg. on the same basis2 |
63.8% |
59.8% |
-4.0 p.p. |
62.6% |
60.2% |
-2.4 p.p. |
|
Net Income |
340.2 |
118.3 |
-65.2% |
340.2 |
118.3 |
-65.2% |
|
Net Income on the same basis 2 7 |
332.5 |
93.3 |
-71.9% |
332.5 |
93.3 |
-71.9% |
|
Net Debt / Adjusted EBITDA LTM (x)6 |
2.3 |
2.7 |
2.3 |
2.8 |
||
|
Adjusted EBITDA5 / Interest and Monetary Variation (x) |
5.3 |
4.6 |
4.9 |
4.2 |
||
|
IFRS |
Proforma |
|||||
|
Financial Indicators (R$ MM) |
9M19 |
9M20 |
Chg % |
9M19 |
9M20 |
Chg % |
|
Net Revenues1 |
6,849.4 |
6,383.8 |
-6.8% |
7,346.6 |
6,684.6 |
-9.0% |
|
Adjusted Net Revenues on the same basis2 |
6,749.6 |
6,025.6 |
-10.7% |
7,195.3 |
6,326.4 |
-12.1% |
|
Adjusted EBIT3 |
2,549.8 |
1,646.1 |
-35.4% |
2,761.0 |
1,741.9 |
-36.9% |
|
Adjusted EBIT Mg.4 |
37.2% |
25.8% |
-11.4 p.p. |
37.6% |
26.1% |
-11.5 p.p. |
|
Adjusted EBITDA5 |
4,289.6 |
3,651.8 |
-14.9% |
4,601.6 |
3,859.8 |
-16.1% |
|
Adjusted EBITDA Mg.4 |
62.6% |
57.2% |
-5.4 p.p. |
62.6% |
57.7% |
-4.9 p.p. |
|
Adjusted EBITDA on the same basis2 |
4,241.3 |
3,453.1 |
-18.6% |
4,522.3 |
3,661.1 |
-19.0% |
|
Adjusted EBITDA Mg. on the same basis2 |
62.8% |
57.3% |
-5.5 p.p. |
62.9% |
57.9% |
-5.0 p.p. |
|
Net Income |
1,045.7 |
265.9 |
-74.6% |
1,045.7 |
265.9 |
-74.6% |
|
Net Income on the same basis 2 7 |
1,010.7 |
197.0 |
-80.5% |
1,010.7 |
197.0 |
-80.5% |
|
Net Debt / Adjusted EBITDA LTM (x)6 |
2.3 |
2.7 |
2.3 |
2.8 |
||
|
Adjusted EBITDA5 / Interest and Monetary Variation (x) |
5.3 |
4.0 |
4.9 |
3.8 |
||
|
¹ Net revenues exclude construction revenues. |
Conference Calls/Webcast
Access to the conference calls/webcasts:
Portuguese conference call with simultaneous translation into English:
Thursday, November 12, 2020
11:00 a.m. São Paulo / 9:00 a.m. New York
Participants calling from Brazil: (11) 3181-8565 or (11) 4210-1803
Participants calling from the U.S.: (+1) 412 717-9627 or (+1) 844 204-8942
Access Code: CCR
Replay: (11) 3193-1012 or (11) 2820-4012
Code: 8366456# or 5097751#
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
Douglas Ribeiro: (+55 11) 3048-6353
Caique Moraes: (+55 11) 3048-2108
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SOURCE CCR S.A.
