- Traffic fell 2.4% in 1Q16 excluding new projects
- Adjusted EBITDA increased 7.1% to R$1.122 billion on a same-basis
- Net income grew 2.9% to R$252.7 million in 1Q16 on a same-basis
- Traffic fell 2.8% in 4Q15 excluding new businesses. Toll collection via electronic means increased to 69% of total.
- Adjusted EBITDA on a same-basis increased slightly by 0.4% with margins of 59.8%. Net income on the same basis fell 19.1%.
- The company addressed 42% of debt maturing in 2016-2017 and obtained new funding of over R$3.6 billion in 4Q15 at favorable rates.
- Traffic decreased 3.7% in 2Q16 excluding new acquisitions. Adjusted EBITDA increased 5.9% with a margin of 63.3%, up 1.9 percentage points. Net profit decreased 36.8% to R$147.8 million on the same basis.
- Gross debt totaled R$14.7 billion, with debt amortization of R$1.346 billion in 2016 and R$4.347 billion in 2017. Average debt cost was 124.95% of CDI. Net debt to EBITDA was 3.3x.
- Recent funding included R$4.047 billion in debentures and loans, extending debt maturity profile. Invest
CCR reported financial results for the third quarter of 2016. Consolidated traffic decreased 1.5% year-over-year excluding a new acquisition. Adjusted EBITDA increased 151.1% due to a one-time gain from the sale of STP shares, or increased 3.2% excluding this gain. Net profit reached R$1,151.1 million, an increase of 366.0% driven primarily by the STP sale, or decreased 1.7% excluding one-time items. CCR also provided highlights on recent debt issuances and an extension of its debt maturity profile.
- Traffic fell 7.0% in 4Q16 compared to 4Q15. Adjusted EBITDA increased 0.4% with a margin of 58.4% (+0.2 p.p.).
- Net income totaled R$169.5 million, down 30.8%. Same-basis net income was R$214.4 million, down 12.9%.
- In February 2017, the Company announced the completion of a primary share offering that raised R$4.07 billion through the issue of 254 million new shares.
- Traffic fell 2.8% in 1Q17 compared to 1Q16. Adjusted EBITDA increased 3.9% to R$1.03 billion with a margin of 61.0%.
- Net income was R$329.0 million, down 32.9%. Excluding new businesses, net income was R$338.5 million, down 46.6%.
- Gross debt was R$14.9 billion, up 1.1%. Net debt to EBITDA was 1.8x. The Company raised R$362 million in local debt and USD$8 million in international loans.
- CCR's consolidated traffic excluding Ponte fell 2.0% in 2Q15 compared to the previous year. Toll revenue collected electronically increased 10.6% reaching over 5 million active tags.
- Adjusted EBITDA on a same-basis increased 4.9% in 2Q15 versus 2Q14, with an EBITDA margin of 62.6% representing a 1.1 percentage point reduction.
- Net income on a same-basis totaled R$284.6 million in 2Q15, a 0.5% reduction over 2Q14.
- CCR's consolidated traffic fell 0.7% in 4Q14 but grew 2.5% in 2014. Toll collection by electronic means increased, with over 4.8 million active tags.
- Adjusted EBITDA on a same-basis increased 4% in 4Q14, with a margin of 64.1%. In 2014, adjusted EBITDA grew 7.3% with a margin of 65.3%.
- Net income on a same-basis decreased 10.7% in 4Q14 due to new projects not yet generating revenue. CCR proposed additional dividends of R$100.8 million.
The document summarizes a presentation given by CCR, a Brazilian infrastructure company, about their current business and future outlook. It provides an overview of various transportation projects CCR is involved in, including highways, urban rail, and airports in Brazil and other countries. Updates are given on key performance metrics and investments made in projects like ViaQuatro, CCR Metro Bahia, CCR NovaDutra, CCR MSVia, and VLT Carioca. The presentation indicates that the business environment for infrastructure is promising in Brazil and that CCR has a track record of successful investments and expansion into new projects.
- Traffic fell 2.8% in 4Q15 excluding new businesses. Toll collection via electronic means increased to 69% of total.
- Adjusted EBITDA on a same-basis increased slightly by 0.4% with margins of 59.8%. Net income on the same basis fell 19.1%.
- The company addressed 42% of debt maturing in 2016-2017 and obtained new funding of over R$3.6 billion in 4Q15 at favorable rates.
- Traffic decreased 3.7% in 2Q16 excluding new acquisitions. Adjusted EBITDA increased 5.9% with a margin of 63.3%, up 1.9 percentage points. Net profit decreased 36.8% to R$147.8 million on the same basis.
- Gross debt totaled R$14.7 billion, with debt amortization of R$1.346 billion in 2016 and R$4.347 billion in 2017. Average debt cost was 124.95% of CDI. Net debt to EBITDA was 3.3x.
- Recent funding included R$4.047 billion in debentures and loans, extending debt maturity profile. Invest
CCR reported financial results for the third quarter of 2016. Consolidated traffic decreased 1.5% year-over-year excluding a new acquisition. Adjusted EBITDA increased 151.1% due to a one-time gain from the sale of STP shares, or increased 3.2% excluding this gain. Net profit reached R$1,151.1 million, an increase of 366.0% driven primarily by the STP sale, or decreased 1.7% excluding one-time items. CCR also provided highlights on recent debt issuances and an extension of its debt maturity profile.
- Traffic fell 7.0% in 4Q16 compared to 4Q15. Adjusted EBITDA increased 0.4% with a margin of 58.4% (+0.2 p.p.).
- Net income totaled R$169.5 million, down 30.8%. Same-basis net income was R$214.4 million, down 12.9%.
- In February 2017, the Company announced the completion of a primary share offering that raised R$4.07 billion through the issue of 254 million new shares.
- Traffic fell 2.8% in 1Q17 compared to 1Q16. Adjusted EBITDA increased 3.9% to R$1.03 billion with a margin of 61.0%.
- Net income was R$329.0 million, down 32.9%. Excluding new businesses, net income was R$338.5 million, down 46.6%.
- Gross debt was R$14.9 billion, up 1.1%. Net debt to EBITDA was 1.8x. The Company raised R$362 million in local debt and USD$8 million in international loans.
- CCR's consolidated traffic excluding Ponte fell 2.0% in 2Q15 compared to the previous year. Toll revenue collected electronically increased 10.6% reaching over 5 million active tags.
- Adjusted EBITDA on a same-basis increased 4.9% in 2Q15 versus 2Q14, with an EBITDA margin of 62.6% representing a 1.1 percentage point reduction.
- Net income on a same-basis totaled R$284.6 million in 2Q15, a 0.5% reduction over 2Q14.
- CCR's consolidated traffic fell 0.7% in 4Q14 but grew 2.5% in 2014. Toll collection by electronic means increased, with over 4.8 million active tags.
- Adjusted EBITDA on a same-basis increased 4% in 4Q14, with a margin of 64.1%. In 2014, adjusted EBITDA grew 7.3% with a margin of 65.3%.
- Net income on a same-basis decreased 10.7% in 4Q14 due to new projects not yet generating revenue. CCR proposed additional dividends of R$100.8 million.
The document summarizes a presentation given by CCR, a Brazilian infrastructure company, about their current business and future outlook. It provides an overview of various transportation projects CCR is involved in, including highways, urban rail, and airports in Brazil and other countries. Updates are given on key performance metrics and investments made in projects like ViaQuatro, CCR Metro Bahia, CCR NovaDutra, CCR MSVia, and VLT Carioca. The presentation indicates that the business environment for infrastructure is promising in Brazil and that CCR has a track record of successful investments and expansion into new projects.
- Traffic fell 0.8% while adjusted EBITDA increased 69.7% and net profit increased 357.9%
- Key corporate events included acquiring control of ViaQuatro and increasing stake in ViaRio
- Financial highlights showed increases in revenues, adjusted EBITDA, and net income, while margins expanded significantly
- Costs grew due to variable compensation, collective bargaining agreements, and one-off acquisition effects
- Fundraising efforts in the quarter raised over R$1.3 billion, while debt metrics like net debt/EBITDA remained stable
- Traffic grew 4.1% in 3Q17 compared to 3Q16. Adjusted EBITDA on a same-basis grew 5.7% with margins of 63.8% (+0.6 p.p.). Net income on a same-basis grew 63.1%.
- Cash costs were up 2.0% on a same-basis to R$731 million due to inflation adjustments. Adjusted EBITDA was up 5% on a same-basis to R$1.28 billion.
- Gross debt was R$14.7 billion, with net debt/EBITDA of 2.2x. The company raised R$1.295 billion in new debt in 3
- Traffic fell 3.8% in 1Q15 compared to 1Q14. Adjusted EBITDA on a same-basis increased 2.8% with a margin of 65.6%. Net income on a same-basis was R$312.6 million, down 13.8%.
- Costs increased due to new projects, wage increases, and a tax provision effect for Ponte. Excluding these factors, cash costs increased 5.2% and EBITDA margin was maintained at 65.6%.
- Financial results were impacted by higher debt and interest rates. Net debt/EBITDA was 2.5x. The leverage reflects investment needs but not potential cash generation from new businesses.
- CCR's consolidated traffic grew 3.9% in 2Q14, while toll revenues increased 5.7%. Adjusted proforma EBITDA increased 5.2% in 2Q14.
- Total costs increased 5.4% in 2Q14 versus 2Q13, driven by a higher average SELIC rate and increased debt levels. Net income decreased 9.4% due to financial expenses.
- CCR maintained a comfortable leverage ratio of 2.0x net debt to EBITDA. The company continues investing in maintenance and improvements across its portfolio.
- Traffic grew 4.4% in 4Q17 compared to 4Q16. Adjusted EBITDA increased 17.9% on a same-basis compared to 4Q16, with a margin of 61.3% (+2.9 percentage points).
- Net income totaled R$329.1 million, up 94.2% compared to 4Q16. The company's board proposed additional dividends of approximately R$0.20 per share.
- In January 2018, the company was selected as the best bidder to operate subway lines 5 and 17 in São Paulo through 2038.
BBVA reported results for the third quarter of 2016. Key highlights included:
- Attributable profit of €965 million, an increase of 23.1% compared to the third quarter of 2015 excluding corporate operations.
- Gross income increased 12.7% driven by growth in net interest income, fees and commissions, and trading income.
- Operating expenses grew 4.3% as the bank continued cost control efforts.
- Sound asset quality with the NPL ratio stable at 5.1% and cost of risk at 0.9%.
- Capital generation was strong with the CET1 ratio reaching 11.00%.
Telecom Italia Group reported its 2Q'17 results, with positive trends across key metrics. Total revenues grew 3.2% year-over-year in Italy driven by higher mobile and fixed revenues. EBITDA increased in both Italy and Brazil, with organic EBITDA growth of 8.3% and 16% respectively. Recurring net cash flow was up €1 billion in 1H'17 compared to the same period in 2016, demonstrating continued financial improvements.
- Telecom Italia Group reported its 1Q'17 results, showing continued improvement across key metrics. Total revenues increased 0.6% year-over-year, with service revenues up 2.2%. EBITDA grew 5.1% and adjusted net debt declined 7.5%.
- Results were driven by strong performances in both the Domestic and Brazil segments. Domestic revenues grew 1.0% with service revenues up 2.2%, while Brazil revenues increased 2.5%.
- The company is ahead of schedule in its turnaround, with cash cost efficiency targets already 30% achieved for FY2017. Network investments also accelerated to expand fiber and LTE infrastructure across Italy and Brazil.
- Telecom Italia Group reported its 3Q'17 results, with total revenues of €4.907 billion, up 2.0% YoY on an organic basis. Service revenues were €4.593 billion, up 1.8% YoY organically.
- EBITDA was €2.226 billion for the quarter, representing organic growth of 2.0% YoY. Domestic EBITDA margin was resilient at 47.7% despite commercial investment.
- Domestic service revenues showed stabilization, with positive mobile trends and strong fiber broadband net additions of 249k in the quarter. Total mobile customers grew 333k QoQ.
- The company reported financial results for the fourth quarter of 2015, with declines in key metrics compared to the previous year. Net revenue decreased 8.7%, adjusted EBITDA declined 71%, and the company reported a net loss.
- Sales volumes fell across key segments: chrysotile mineral by 22.7%, fiber-cement by 11.2%, and concrete tiles by 6.1%. The domestic market declined by 7% while the foreign market dropped by 20.5%.
- For the full year, net debt increased to R$144.9 million while the net debt to EBITDA ratio grew to 1.10x. The company outlined plans to pay dividends totaling 145% of
- Traffic fell 1.8% in 3Q15 excluding new businesses, while toll revenue increased 1.9% due to toll increases.
- Adjusted EBITDA on a same-basis increased 8.8% to R$1.17 billion in 3Q15, with a margin of 67.8%.
- Net income on a same-basis was R$352 million, a 0.7% reduction, impacted by higher financial expenses due to increased debt levels related to investments in new projects.
- Earnings results for 1Q14 showed consolidated traffic growth of 9.1% and tolls collected electronically increasing 14.2%. Adjusted EBITDA on a same basis increased 14.6% and net income on a same basis grew 7.5%.
- Costs were up 1.6% on a same basis, reflecting higher costs from new projects. Financial results declined due to higher debt levels and interest rates.
- The company maintained a comfortable leverage ratio and dividend payout remains over 50% of net income, demonstrating a continued commitment to shareholders.
1. BBVA reported its first quarter 2015 results with income growth across all regions. Net attributable profit increased significantly both including and excluding Venezuela.
2. Risk indicators continued to improve with the NPL ratio down and coverage ratio up. Capital levels remained strong with fully-loaded leverage ratio of 6.2%.
3. Business activity increased in all regions including Spain where new loan production was more dynamic and the digital transformation plan is ongoing. Income grew in the US, Mexico and South America on strong operating performance.
- Telecom Italia Group reported its results for the third quarter of 2016. Total revenues were €3.8 billion, up 1.0% year-over-year on an organic basis.
- Domestic business revenues grew organically by 7.8% year-over-year driven by strong growth in fixed broadband and ICT services. Mobile service revenues increased 1.1% year-over-year.
- TIM Brasil saw a revenue recovery with mobile service revenues up 0.4% year-over-year excluding MTR inflation. Organic EBITDA turned positive in the third quarter reaching a 33.1% margin.
Snam reported its 2013 full year results on February 28th, 2014. Key highlights included revenues of €3.529 billion, down 2.5% from 2012, and EBITDA of €2.803 billion, down 0.5% from the previous year. Net profit increased 17.7% to €917 million compared to 2012. Operationally, gas injected into Snam's network decreased 8.9% to 69 billion cubic meters for the year. Snam also paid a dividend of €0.25 per share for 2013 and continued investing in its gas infrastructure, spending over €1.29 billion on capital expenditures.
- Traffic fell 3.9% in 4Q18 compared to 4Q17, excluding suspended axle exemptions traffic increased 0.4%
- Adjusted EBITDA increased 3.6% in 4Q18 on a same-basis compared to 4Q17, with an adjusted margin of 61.7% (+0.4 percentage points)
- Same-basis net income in 4Q18 totaled R$356.9 million, down 21.1% from 4Q17
TIM FY’16 and New Plan: A Transforming CompanyGruppo TIM
This document provides a preliminary report on the financial results of Telecom Italia Group for fiscal year 2016 as well as the company's strategic plan for 2017-2019. It includes an overview of key financial metrics for FY2016 such as revenues, EBITDA, net debt, and cash flow. Performance improvements are seen in the second half of 2016 compared to the first half. The strategic plan aims to further improve infrastructure, enhance commercial approaches, and drive efficiency across the company and its subsidiaries.
This document contains the agenda and presentation slides for Telecom Italia Group's 3Q 2015 results presentation. The presentation discusses recent highlights such as domestic performance and regulatory changes. It provides an overview of 3Q 2015 results including declines in total revenues and service revenues but improvements in mobile revenues. Charts and data are presented on key metrics like fixed broadband users, fiber coverage, mobile subscribers and ARPU, and EBITDA performance.
- Traffic grew 2.3% consolidated and 3.1% proforma including recent acquisitions
- Adjusted EBITDA increased 9.3% on a same-basis and 17.0% reported, with margins of 62.0% and 62.2% respectively
- Net income grew 32.3% on a same-basis and 35.8% as reported
- Traffic fell 0.8% while adjusted EBITDA increased 69.7% and net profit increased 357.9%
- The company acquired control of ViaQuatro and an additional stake in ViaRio
- Adjusted EBITDA on a same-basis increased 4.8% due to cost optimization efforts despite lower traffic
- Net debt to EBITDA was 1.8x due to strong earnings growth and debt refinancing at lower interest rates
- Consolidated traffic fell 5.5% in 2Q18 compared to 2Q17. Adjusted EBITDA on a same-basis increased 1.0% to R$1,091.7 million, with a margin of 58.3% (-0.4 p.p.). Net income on a same-basis totaled R$300.9 million, down 5.2%.
- Leonardo Couto Vianna took over as CEO of CCR on August 1, 2018. ViaMobilidade's commercial operations began on August 4, 2018.
- Gross debt totaled R$16.6 billion as of June 30, 2018, with an average cost of debt of C
- Traffic fell 0.8% while adjusted EBITDA increased 69.7% and net profit increased 357.9%
- Key corporate events included acquiring control of ViaQuatro and increasing stake in ViaRio
- Financial highlights showed increases in revenues, adjusted EBITDA, and net income, while margins expanded significantly
- Costs grew due to variable compensation, collective bargaining agreements, and one-off acquisition effects
- Fundraising efforts in the quarter raised over R$1.3 billion, while debt metrics like net debt/EBITDA remained stable
- Traffic grew 4.1% in 3Q17 compared to 3Q16. Adjusted EBITDA on a same-basis grew 5.7% with margins of 63.8% (+0.6 p.p.). Net income on a same-basis grew 63.1%.
- Cash costs were up 2.0% on a same-basis to R$731 million due to inflation adjustments. Adjusted EBITDA was up 5% on a same-basis to R$1.28 billion.
- Gross debt was R$14.7 billion, with net debt/EBITDA of 2.2x. The company raised R$1.295 billion in new debt in 3
- Traffic fell 3.8% in 1Q15 compared to 1Q14. Adjusted EBITDA on a same-basis increased 2.8% with a margin of 65.6%. Net income on a same-basis was R$312.6 million, down 13.8%.
- Costs increased due to new projects, wage increases, and a tax provision effect for Ponte. Excluding these factors, cash costs increased 5.2% and EBITDA margin was maintained at 65.6%.
- Financial results were impacted by higher debt and interest rates. Net debt/EBITDA was 2.5x. The leverage reflects investment needs but not potential cash generation from new businesses.
- CCR's consolidated traffic grew 3.9% in 2Q14, while toll revenues increased 5.7%. Adjusted proforma EBITDA increased 5.2% in 2Q14.
- Total costs increased 5.4% in 2Q14 versus 2Q13, driven by a higher average SELIC rate and increased debt levels. Net income decreased 9.4% due to financial expenses.
- CCR maintained a comfortable leverage ratio of 2.0x net debt to EBITDA. The company continues investing in maintenance and improvements across its portfolio.
- Traffic grew 4.4% in 4Q17 compared to 4Q16. Adjusted EBITDA increased 17.9% on a same-basis compared to 4Q16, with a margin of 61.3% (+2.9 percentage points).
- Net income totaled R$329.1 million, up 94.2% compared to 4Q16. The company's board proposed additional dividends of approximately R$0.20 per share.
- In January 2018, the company was selected as the best bidder to operate subway lines 5 and 17 in São Paulo through 2038.
BBVA reported results for the third quarter of 2016. Key highlights included:
- Attributable profit of €965 million, an increase of 23.1% compared to the third quarter of 2015 excluding corporate operations.
- Gross income increased 12.7% driven by growth in net interest income, fees and commissions, and trading income.
- Operating expenses grew 4.3% as the bank continued cost control efforts.
- Sound asset quality with the NPL ratio stable at 5.1% and cost of risk at 0.9%.
- Capital generation was strong with the CET1 ratio reaching 11.00%.
Telecom Italia Group reported its 2Q'17 results, with positive trends across key metrics. Total revenues grew 3.2% year-over-year in Italy driven by higher mobile and fixed revenues. EBITDA increased in both Italy and Brazil, with organic EBITDA growth of 8.3% and 16% respectively. Recurring net cash flow was up €1 billion in 1H'17 compared to the same period in 2016, demonstrating continued financial improvements.
- Telecom Italia Group reported its 1Q'17 results, showing continued improvement across key metrics. Total revenues increased 0.6% year-over-year, with service revenues up 2.2%. EBITDA grew 5.1% and adjusted net debt declined 7.5%.
- Results were driven by strong performances in both the Domestic and Brazil segments. Domestic revenues grew 1.0% with service revenues up 2.2%, while Brazil revenues increased 2.5%.
- The company is ahead of schedule in its turnaround, with cash cost efficiency targets already 30% achieved for FY2017. Network investments also accelerated to expand fiber and LTE infrastructure across Italy and Brazil.
- Telecom Italia Group reported its 3Q'17 results, with total revenues of €4.907 billion, up 2.0% YoY on an organic basis. Service revenues were €4.593 billion, up 1.8% YoY organically.
- EBITDA was €2.226 billion for the quarter, representing organic growth of 2.0% YoY. Domestic EBITDA margin was resilient at 47.7% despite commercial investment.
- Domestic service revenues showed stabilization, with positive mobile trends and strong fiber broadband net additions of 249k in the quarter. Total mobile customers grew 333k QoQ.
- The company reported financial results for the fourth quarter of 2015, with declines in key metrics compared to the previous year. Net revenue decreased 8.7%, adjusted EBITDA declined 71%, and the company reported a net loss.
- Sales volumes fell across key segments: chrysotile mineral by 22.7%, fiber-cement by 11.2%, and concrete tiles by 6.1%. The domestic market declined by 7% while the foreign market dropped by 20.5%.
- For the full year, net debt increased to R$144.9 million while the net debt to EBITDA ratio grew to 1.10x. The company outlined plans to pay dividends totaling 145% of
- Traffic fell 1.8% in 3Q15 excluding new businesses, while toll revenue increased 1.9% due to toll increases.
- Adjusted EBITDA on a same-basis increased 8.8% to R$1.17 billion in 3Q15, with a margin of 67.8%.
- Net income on a same-basis was R$352 million, a 0.7% reduction, impacted by higher financial expenses due to increased debt levels related to investments in new projects.
- Earnings results for 1Q14 showed consolidated traffic growth of 9.1% and tolls collected electronically increasing 14.2%. Adjusted EBITDA on a same basis increased 14.6% and net income on a same basis grew 7.5%.
- Costs were up 1.6% on a same basis, reflecting higher costs from new projects. Financial results declined due to higher debt levels and interest rates.
- The company maintained a comfortable leverage ratio and dividend payout remains over 50% of net income, demonstrating a continued commitment to shareholders.
1. BBVA reported its first quarter 2015 results with income growth across all regions. Net attributable profit increased significantly both including and excluding Venezuela.
2. Risk indicators continued to improve with the NPL ratio down and coverage ratio up. Capital levels remained strong with fully-loaded leverage ratio of 6.2%.
3. Business activity increased in all regions including Spain where new loan production was more dynamic and the digital transformation plan is ongoing. Income grew in the US, Mexico and South America on strong operating performance.
- Telecom Italia Group reported its results for the third quarter of 2016. Total revenues were €3.8 billion, up 1.0% year-over-year on an organic basis.
- Domestic business revenues grew organically by 7.8% year-over-year driven by strong growth in fixed broadband and ICT services. Mobile service revenues increased 1.1% year-over-year.
- TIM Brasil saw a revenue recovery with mobile service revenues up 0.4% year-over-year excluding MTR inflation. Organic EBITDA turned positive in the third quarter reaching a 33.1% margin.
Snam reported its 2013 full year results on February 28th, 2014. Key highlights included revenues of €3.529 billion, down 2.5% from 2012, and EBITDA of €2.803 billion, down 0.5% from the previous year. Net profit increased 17.7% to €917 million compared to 2012. Operationally, gas injected into Snam's network decreased 8.9% to 69 billion cubic meters for the year. Snam also paid a dividend of €0.25 per share for 2013 and continued investing in its gas infrastructure, spending over €1.29 billion on capital expenditures.
- Traffic fell 3.9% in 4Q18 compared to 4Q17, excluding suspended axle exemptions traffic increased 0.4%
- Adjusted EBITDA increased 3.6% in 4Q18 on a same-basis compared to 4Q17, with an adjusted margin of 61.7% (+0.4 percentage points)
- Same-basis net income in 4Q18 totaled R$356.9 million, down 21.1% from 4Q17
TIM FY’16 and New Plan: A Transforming CompanyGruppo TIM
This document provides a preliminary report on the financial results of Telecom Italia Group for fiscal year 2016 as well as the company's strategic plan for 2017-2019. It includes an overview of key financial metrics for FY2016 such as revenues, EBITDA, net debt, and cash flow. Performance improvements are seen in the second half of 2016 compared to the first half. The strategic plan aims to further improve infrastructure, enhance commercial approaches, and drive efficiency across the company and its subsidiaries.
This document contains the agenda and presentation slides for Telecom Italia Group's 3Q 2015 results presentation. The presentation discusses recent highlights such as domestic performance and regulatory changes. It provides an overview of 3Q 2015 results including declines in total revenues and service revenues but improvements in mobile revenues. Charts and data are presented on key metrics like fixed broadband users, fiber coverage, mobile subscribers and ARPU, and EBITDA performance.
- Traffic grew 2.3% consolidated and 3.1% proforma including recent acquisitions
- Adjusted EBITDA increased 9.3% on a same-basis and 17.0% reported, with margins of 62.0% and 62.2% respectively
- Net income grew 32.3% on a same-basis and 35.8% as reported
- Traffic fell 0.8% while adjusted EBITDA increased 69.7% and net profit increased 357.9%
- The company acquired control of ViaQuatro and an additional stake in ViaRio
- Adjusted EBITDA on a same-basis increased 4.8% due to cost optimization efforts despite lower traffic
- Net debt to EBITDA was 1.8x due to strong earnings growth and debt refinancing at lower interest rates
- Consolidated traffic fell 5.5% in 2Q18 compared to 2Q17. Adjusted EBITDA on a same-basis increased 1.0% to R$1,091.7 million, with a margin of 58.3% (-0.4 p.p.). Net income on a same-basis totaled R$300.9 million, down 5.2%.
- Leonardo Couto Vianna took over as CEO of CCR on August 1, 2018. ViaMobilidade's commercial operations began on August 4, 2018.
- Gross debt totaled R$16.6 billion as of June 30, 2018, with an average cost of debt of C
Snam reported lower revenues, earnings, and profits in the first quarter of 2016 compared to the same period in 2015. Revenues decreased 8.3% to €852 million, earnings before interest and taxes (EBIT) declined 15.9% to €429 million, and net profit decreased 18.2% to €266 million. Operating expenses were down slightly while capital expenditures increased. Despite lower results, free cash flow was positive at €251 million due to changes in working capital. Italian gas consumption and injections into the transportation network were up on a weather-adjusted basis.
- The company reported financial results for its fiscal first quarter of 2016, with net revenue of $563 million, gross margin of 61.6% excluding special items, and earnings per share of $0.42 excluding special items.
- Revenue declined 3% year-over-year, with declines in most end markets except automotive which was flat.
- The company provided guidance for the second quarter of fiscal 2016, anticipating revenue between $490-520 million with gross margin of 60-63% excluding special items.
CCR reported its 1Q13 earnings results. Some key highlights included:
- Traffic increased 2.0% compared to 1Q12. Electronic toll collection reached 3,875 thousand active tags, up 14.9% over March 2012.
- Net income increased 16.6% to R$336.7 million due to improved operational and financial performance.
- Adjusted EBITDA was R$783.6 million, up 7.4% over 1Q12, though the adjusted EBITDA margin declined slightly to 65.0% due to the addition of Barcas, which is still in the initial phase.
- The financial results improved, reflecting lower interest rates and active liability management, reducing
BBVAResultsResults Presentation
1. BBVA reported results for the first quarter of 2016, with earnings impacted by seasonality, lower net trading income, and foreign exchange effects. Impairments and provisions were lower, mainly in Spain and real estate.
2. Net attributable profit was €709 million, down 53.8% year-on-year. Excluding one-off corporate operations, net profit fell 25.6%.
3. BBVA remains well capitalized with a fully-loaded Common Equity Tier 1 ratio of 10.54% and leverage ratio of 5.3% as of March 2016.
The document provides an overview of TRC Solutions' Q2 fiscal year 2016 financial results. Some key points:
- Net service revenue increased 12% year-over-year to $111.4 million, with growth in energy and infrastructure segments offsetting a decline in environmental.
- Adjusted operating income grew 16% to $7.9 million due to organic and acquisition growth.
- Organic backlog increased 23% to $313 million, with strong growth in infrastructure offsetting declines in energy and environmental.
- Integration of the Willbros acquisition is proceeding on track, with the pipeline services division now functionally integrated within TRC.
This presentation summarizes Triunfo Participações e Investimentos S.A.'s earnings results for the second quarter (2Q13) and first half (1H13) of 2013. Consolidated traffic volume increased 5.4% in 2Q13 and 4.3% in 1H13. Adjusted net revenue rose 23.5% in 2Q13 and 26.3% in 1H13. Adjusted EBITDA totaled R$103.0 million in 2Q13, up 16.0%, and R$252.2 million in 1H13, up 27.0%. Financial expenses increased significantly due to higher debt levels. Capex in 1H13 was led by the
This document summarizes CCR's 2Q13 earnings results. It reports that consolidated traffic increased 6.2% compared to 2Q12. Toll collection by electronic means grew 14.5% compared to June 2012. Adjusted EBITDA on a same-basis increased 16.8% to 67.0% margin. Subsequent events include the sale of a 10% stake in STP and a proposed interim dividend of R$0.57 per share. Key financial indicators show expansion in EBITDA margin and net income. The company has low leverage with a net debt to EBITDA ratio of 2.0x. Realized investments and maintenance expenditures are presented for main concessions.
- CCR's consolidated traffic grew 8.4% in 4Q13 and 6.0% in 2013. Toll collection through electronic means increased, with the number of tag users up 14.1% in 4Q13.
- Adjusted EBITDA on a same-basis increased 10.3% in 4Q13 and 12.8% in 2013, with margins of 65.3% and 65.7% respectively.
- CCR received R$95 million from the sale of its stake in STP infrastructure company.
The company reported financial results for the first quarter of 2010. Net revenue increased 7.3% to R$247 million driven by growth in vehicle sales and logistics services. EBITDA grew 9.6% to R$38.1 million and the EBITDA margin increased slightly to 15.4%. The automotive logistics segment saw a 14.8% increase in net revenue and 15.8% growth in EBITDA. However, the integrated logistics segment experienced declines in net revenue and EBITDA of 20.2% and 12.7%, respectively. Overall, net income increased 19.7% to R$22.6 million.
The document summarizes the company's financial results for the first quarter of 2016. It reported a 6.3% increase in net revenue compared to the first quarter of 2015. EBITDA was R$151.5 million with a margin of 56.2%. Net income increased 13.5% to R$98.2 million compared to the first quarter of 2015. Costs and expenses grew below the rate of inflation for the period.
- TIM reported results for Q3 2020, showing improving trends in Italy and growth resuming in Brazil. Key performance indicators in Italy are stabilizing as the "Fix the fixed" strategy delivers results in halting customer line losses.
- Organic cash generation remained strong in Q3, with Equity Free Cash Flow increasing 22% year-over-year. Net debt was reduced by €0.4 billion compared to the previous quarter through organic improvement.
- Guidance for 2020-2022 is reiterated, with expectations for low to mid-single digit organic growth in service revenues and EBITDA, and a cumulative €4.5-5 billion in Equity Free Cash Flow over the period.
Angel Ron: Banco Popular Third Quarter 2010 Results CrisisBanco Popular
Banco Popular, the organization headed by Angel Ron, presents the results obtained in the third quarter of 2010.
According to the results, Banco Popular expects to finish the year keeping the line in terms of results obtained in these months.
Banco Popular also points at that althought the crisis is not over, we will keep reinforcing our
provisions
- The document summarizes Tegma's 3Q07 results, including financial highlights showing increased revenue and earnings compared to 3Q06. Net revenue grew 35.6% to R$199.7 million driven by 40.4% growth in the automotive division. Adjusted EBITDAR rose 26.9% and net income increased 27.3% despite non-recurring expenses. Guidance forecasts further revenue and profit growth in 2007 and 2008.
Wilson Sons reported financial results for the first quarter of 2015. Key highlights included robust performance in towage and shipyard businesses, but slower container terminal growth due to economic slowdown. Offshore vessels saw higher revenues from a larger fleet and more operating days. Net income was negatively impacted by currency depreciation. The presentation also provided an overview of the company's debt profile and future capital expenditures. Operational updates showed declines for containers handled but growth in towage operations and shipyard orderbook.
CTEEP reported its financial results for the second quarter of 2015, with the following highlights:
- Net revenue increased 27.8% to R$279 million driven by growth in construction, O&M, and financial revenue.
- EBITDA was R$113.3 million, a margin of 40.6%. This was lower than the prior year due to higher contingency expenses.
- Net income was R$79.9 million, down 10.2% year-over-year.
- Gross debt declined 10.2% to R$1,070.8 million while cash increased, lowering net debt 4.7% to R$674.2 million.
The 2nd quarter 2010 presentation summarizes Tegma Logistica's financial results and recent events. Net revenue increased 8.1% to R$286.9 million driven by higher vehicle sales and transportation volume. EBITDA grew 16.5% to R$47.2 million due to productivity gains. The integrated logistics segment saw a revenue decline but a 53.3% EBITDA increase to R$15.4 million from cost reductions. Tegma also received supplier awards and was nominated for investor relations awards.
Il 9 novembre 2023 il management di TIM ha presentato in conference call i risultati del Q3 2023 approvati dal Consiglio di Amministrazione.
On November 9, 2023, TIM management has presented in conference call its Q3 2023 results approved by the Board of Directors.
Este documento apresenta os resultados financeiros da CCR no quarto trimestre de 2018. Os principais pontos são:
1) O tráfego consolidado apresentou redução de 3,9%, enquanto o EBITDA ajustado cresceu 3,6% em relação ao mesmo período do ano anterior.
2) O lucro líquido atingiu R$356,9 milhões na mesma base de comparação, representando uma queda de 21,1%.
3) Eventos subsequentes incluem a assinatura do contrato de concessão da ViaSul e
O documento apresenta os resultados financeiros da CCR no 2T18. O tráfego consolidado teve redução de 5,5% em relação ao ano anterior. O EBITDA ajustado cresceu 1% na mesma base de comparação, com margem de 58,3%, enquanto o lucro líquido reduziu 5,2%. Novos negócios e eventos subsequentes são destacados.
Este documento apresenta os resultados financeiros da CCR no primeiro trimestre de 2018, destacando:
1) O tráfego consolidado cresceu 2,3% e o EBITDA ajustado aumentou 9,3%;
2) O lucro líquido atingiu R$ 446,8 milhões, um crescimento de 35,8%;
3) A dívida bruta total é de R$ 17,3 bilhões, com alavancagem de 2,2x medida pelo índice Dívida Líquida/EBITDA.
O relatório apresenta os resultados financeiros da CCR no 4T17, destacando:
1) Crescimento de 4,4% no tráfego consolidado e de 17,9% no EBITDA ajustado na mesma base em relação ao 4T16;
2) Lucro líquido de R$329,1 milhões no 4T17, aumento de 94,2% em relação ao 4T16;
3) Proposta de distribuição de dividendos complementares de R$0,20 por ação.
This document summarizes the key points from a presentation on organization, focus, and governance for perpetuating success at CCR Group. It discusses CCR's expansion from 5 companies in 2005 to over 20 companies in 2017 across roads, urban mobility, airports, and services in Brazil and internationally. The presentation outlines CCR's organizational structure and roles, as well as business opportunities in roads, urban mobility projects, and other markets in Brazil, Chile, and Argentina. Traffic trends, economic indicators, and specific projects are also mentioned.
O documento discute estratégias para perpetuar o sucesso da organização no futuro, abordando tópicos como organização, foco e governança. Apresenta o histórico de crescimento da empresa e oportunidades em contratos atuais e novos negócios no Brasil e no exterior.
O documento apresenta os resultados financeiros da CCR no 3T17, com destaque para:
1) Crescimento de 4,1% no tráfego consolidado e de 5,7% no EBITDA ajustado na mesma base em comparação com o 3T16.
2) Lucro líquido de R$ 472,3 milhões no trimestre, queda de 59% devido a efeitos não recorrentes no 3T16.
3) Endividamento bruto de R$ 14,7 bilhões, com alavancagem de 2,2x medida pelo í
O documento apresenta os resultados financeiros da CCR no 2T17. O tráfego consolidado teve queda de 0,8%, enquanto o EBITDA ajustado cresceu 69,7% e o lucro líquido aumentou 357,9%. Na mesma base, o EBITDA subiu 4,8% e o lucro líquido cresceu 195,8%. A dívida líquida total é de R$14,7 bilhões.
O documento apresenta os resultados financeiros da CCR no 2T17. O tráfego consolidado teve queda de 0,8%, enquanto o EBITDA ajustado cresceu 69,7% e o lucro líquido aumentou 357,9%. Na mesma base, o EBITDA subiu 4,8% e o lucro líquido cresceu 195,8%. A dívida líquida total é de R$14,7 bilhões.
Este documento fornece um resumo dos resultados financeiros da CCR no primeiro trimestre de 2017, destacando:
1) O tráfego consolidado apresentou queda de 2,8%, enquanto o EBITDA ajustado cresceu 3,9% e a margem EBITDA foi de 61%;
2) O lucro líquido alcançou R$ 329 milhões, aumento de 32,9%;
3) As principais captações no trimestre somaram R$ 362,3 milhões.
O documento apresenta os resultados financeiros da CCR no 4T16, com ênfase nos seguintes pontos:
1) O tráfego consolidado apresentou queda de 7%, enquanto o EBITDA ajustado cresceu 0,4% e a margem foi de 58,4%;
2) O lucro líquido atingiu R$169,5 milhões, queda de 30,8%;
3) Em evento subsequente, foi realizada uma oferta de ações que levantou R$4,07 bilhões.
O documento apresenta a agenda de um evento da CCR com palestras sobre estratégias e projetos das empresas do grupo CCR em rodovias, mobilidade urbana e aeroportos. Inclui apresentações sobre a expansão da malha rodoviária e metrô de São Paulo e sobre o desempenho das concessionárias do grupo.
The agenda outlines the schedule for a CCR DAY event, including presentations on various CCR projects and business units from 9:30am to 3:40pm. Some of the featured presentations are on CCR Metrô Bahia works including the status of Line 1 and 2 stations and trains, CCR AutoBAn and CCR SPVias works, CCR ViaOeste projects, and CCR NovaDutra's request for new investments including projects in Serra das Araras.
O documento apresenta os resultados financeiros da CCR no 3T16. Destaca crescimento de 151,1% no EBITDA ajustado e de 366% no lucro líquido na comparação anual. A receita líquida consolidada teve alta de 14,4% no trimestre. O tráfego consolidado apresentou queda de 1,5% na mesma comparação. O endividamento bruto total da companhia é de R$14,9 bilhões com alongamento do perfil da dívida.
Este documento apresenta os resultados financeiros da CCR no 2T16. Destaca queda de 3,7% no tráfego consolidado e crescimento de 5,9% no EBITDA ajustado na mesma base. Apresenta também redução de 36,8% no lucro líquido na mesma base devido ao aumento no resultado financeiro líquido. Por fim, informa sobre emissões de dívida que totalizaram R$4 bilhões no trimestre.
Este documento apresenta os resultados financeiros da CCR no primeiro trimestre de 2016. O tráfego consolidado excluindo a Ponte e MSVia teve queda de 2,4%. O EBITDA ajustado na mesma base teve crescimento de 7,1% com margem de 64,8%. O lucro líquido na mesma base atingiu R$ 252,7 milhões, aumento de 2,9% no 1T16.
O documento apresenta os resultados financeiros da CCR no 4T15. O tráfego consolidado excluindo a Ponte e MSVia teve queda de 2,8%. O EBITDA ajustado na mesma base apresentou crescimento de 0,4% com margem de 59,8%. O lucro líquido na mesma base atingiu R$249,9 milhões, queda de 19,1% no 4T15.
UnityNet World Environment Day Abraham Project 2024 Press ReleaseLHelferty
June 12, 2024 UnityNet International (#UNI) World Environment Day Abraham Project 2024 Press Release from Markham / Mississauga, Ontario in the, Greater Tkaronto Bioregion, Canada in the North American Great Lakes Watersheds of North America (Turtle Island).
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SUSTAINABLE INVESTING UNVEILED: THE ROLE OF BOND RATINGS IN GUIDING GREEN BON...indexPub
The increasing urgency to address climate change has propelled sustainable investing into the spotlight, with green bonds emerging as a pivotal instrument for mobilizing the capital required for environmental projects. This study delves into the critical role that bond ratings play in guiding investments in green bonds, shedding light on how these ratings influence investor confidence and the allocation of funds towards sustainable initiatives. By employing a mixed-methods approach, combining quantitative analysis of green bond performance with qualitative interviews from industry experts, this research offers a comprehensive overview of the interplay between bond ratings and green bond investments. The findings suggest that higher bond ratings, often indicative of lower risk and better sustainability credentials, significantly impact the attractiveness of green bonds to investors. Additionally, the study examines the evolution of rating criteria to encompass environmental, social, and governance (ESG) factors, highlighting the shift towards more holistic assessments of investment risk and potential. This research contributes to the broader discourse on sustainable finance by providing insights into the mechanisms through which bond ratings can facilitate more informed and impactful green bond investments.
2. 2
Disclaimer
This presentation may contain certain forward-looking projections and trends that neither
represent realized financial results nor historical information.
These forward-looking projections and trends are subject to risk and uncertainty, and
future results may differ materially from the projections. Many of these risks and
uncertainties are related to factors that are beyond CCR’s ability to control or to estimate,
such as market conditions, currency swings, the behavior of other market participants, the
actions of regulatory agencies, the ability of the company to continue to obtain financing,
changes in the political and social context in which CCR operates or economic trends or
conditions, including changes in the rate of inflation and changes in consumer confidence
on a global, national or regional scale.
Readers are advised not to fully trust these projections and trends. CCR is not obliged to
publish any revision of these projections and trends that should reflect new events or
circumstances after the realization of this presentation.
3. TRAFFIC:
Proforma consolidated traffic1,excluding Ponte and MSVia, fell by 2.4% in 1Q16.
ADJUSTED EBITDA:
Same-basis2 adjusted proforma EBITDA increased by 7.1%, with an margin of 64.8%.
NET INCOME:
Same-basis2 net income totaled R$252.7 million, a 2.9% increase in 1Q16.
CORPORATE HIGHLIGHT:
Signature of the agreement related to the sale of the entire stake in STP, as disclose through the
Material Fact of March 14, 2016.
3
1Q16 Highlights
1 Including the proportional traffic of Renovias.
2 Same-basis figures exclude: (ii) new businesses, either non-operating, under assisted operation, or which were not included in the portfolio during at least one of the
comparison periods: Metrô Bahia, MSVia and TAS; (ii) Ponte, whose agreement ended on May 31, 2015; and (iii) additionally, in profit in the same comparison basis
and in same-basis pro-forma comparisons, it excludes Controlar, ViaRio and VLT.
4. 1- Net revenue excludes construction revenue.
2- Same-basis figures exclude: (ii) new businesses, either non-operating, under assisted operation, or which were not included in the portfolio during at least one of
the comparison periods: Metrô Bahia, MSVia and TAS; (ii) Ponte, whose agreement ended on May 31, 2015; and (iii) additionally, in profit in the same comparison
basis and in same-basis pro-forma comparisons, it excludes Controlar, ViaRio and VLT.
3- Calculated by adding net revenue, construction revenue, costs of services and administrative expenses
4- The adjusted EBIT and EBITDA margins were calculated by dividing EBIT and EBITDA by net revenue, excluding construction revenue, as required by IFRS.
5- Calculated excluding non-cash expenses: depreciation and amortization, the provision for maintenance and the recognition of prepaid concession expenses.
4
Financial Highlights – 1Q16
Net Revenues1 1,436.4 1,635.9 13.9% 1,659.4 1,909.8 15.1%
Adjusted Net Revenues on the same basis2 1,396.1 1,465.8 5.0% 1,616.9 1,730.8 7.0%
Adjusted EBIT3 590.6 705.1 19.4% 693.4 826.6 19.2%
Adjusted EBIT Mg.4
41.1% 43.1% +2.0 p.p. 41.8% 43.3% +1.5 p.p.
EBIT on the same basis2 649.9 679.1 4.5% 753.5 797.1 5.8%
EBIT Mg. on the same basis2
46.5% 46.3% -0.2 p.p. 46.6% 46.1% -0.5 p.p.
Adjusted EBITDA5 859.7 992.4 15.4% 997.1 1,157.7 16.1%
Adjusted EBITDA Mg.4 59.9% 60.7% +0.8 p.p. 60.1% 60.6% +0.5 p.p.
Adjusted EBITDA on the same basis2 909.4 959.6 5.5% 1,047.5 1,121.5 7.1%
Adjusted EBITDA Mg. on the same basis2
65.1% 65.5% +0.4 p.p. 64.8% 64.8% -
Net Income 198.9 247.5 24.4% 198.9 247.5 24.4%
Net Income on the same basis2 245.6 252.7 2.9% 245.6 252.7 2.9%
1Q15 1Q16 Chg %Financial Indicators (R$ MM) 1Q15 1Q16 Chg %
IFRS Proforma
5. 1Q11 1Q12 1Q13 1Q14 1Q15 1Q16
228
240 245
267
257 249
5
Traffic – Quarter Change (Proforma*)
Consolidated – MM Equivalent Vehicle
Revenue and traffic 1Q16 X 1Q15 (%)
* Information including Renovias which is contemplated in the proforma method.
Excluding Ponte
and MSVia
236 (-2.4%)
AutoBAn NovaDutra Rodonorte ViaLagos ViaOeste Renovias Rodoanel SPVias
-2.6
-10.0
5.5
-3.6 -2.1 -2.1 -2.0
2.7
0.1 1.9
11.9
-0.8
1.8 1.8
9.5
7.7
Traffic Toll Revenues
8. 1Q15
Proforma
EBITDA
1Q16
Proforma
EBITDA
New
Projects
and Ponte
1Q16
Proforma
EBITDA
Same
Basis
997
1,158 1,122(36)
8
Proforma EBITDA*
60.1%
of Mg.
60.6%
of Mg.
64.8%
of Mg.
* Same-basis figures exclude: (i) new businesses, either non-operating, under assisted operation, or which were not included in the portfolio during at least one of the
comparison periods: Metrô Bahia, MSVia and TAS; (ii) Ponte, whose agreement ended on May 31, 2015; and (iii) additionally, it excludes Controlar, ViaRio and VLT.
*
1Q15 Same basis
R$ MM 1,048
64.8% of Mg.
1Q16 Same basis
R$ MM 1,122
(+7,1%)
R$ MM
9. 1Q15 Net
Financial Result
Income from
Hedge Operation
Monetaryvariation
on loans, financing
and debentures
MonetaryVariation
on Liabilities related
to the Granting
Power
ExchangeRate
Variation on Loans
and Financing
Present Value
Adjustment of
Maintenance
Provision and
Liabilitiesrelated to
the Granting Power
Interest on Loans,
Financing and
Debentures
Investment Income
and OtherIncome
Fair Value of
Hedge Operation
Others 1Q16 Net
Financial Result
341.7
(0.5) 455.7
148.5
33.9 1.7 (157.4)
3.4
75.6 (40.2) 49.0
9
IFRS Financial Results
• Chg. of average CDI 1Q16 X 1Q15 = +1.8 p.p.
• Gross Debt = R$ 14.8 B (+28.1%)
33%
R$ MM
10. 1Q15
Net
Income
1Q16
Net
Income
New
Projects
and Ponte
1Q16
Net Income
Same
Basis
199
248 5 253
10
Net Income
R$ MM
Same basis
R$ 246 MM
* Same-basis amounts exclude: (i) new businesses, either non-operating, under assisted operation, or which were not included in the portfolio during at least one of the
comparison periods: Metrô Bahia, MSVia and TAS; (ii) Ponte, whose agreement ended on May 31, 2015; and (iii) additionally, it excludes Controlar, ViaRio and VLT.
*
Same basis
R$ 253 MM
(+2.9%)
11. CDI
81.2%
TJLP
13.4%
IPCA
3.5%
USD
1.9%
CDI
57.0%IPCA
18.6%
TJLP
13.4%
USD
11.0%
2016 2017 2018 2019 From
2020
3,983
2,413
1,334
762
-
72
1,344
228
CDI USD Others
1,660
2,083
2,340
4,008
4,820
Gross hedged debt by indexer
11
Debt in March 31, 2016
Amortization Schedule (R$ MM)
Indebtedness and leverage position
• Total Gross Debt: R$ 14.9 Bn
(R$16.3 Bn proforma)
• Net Debt / EBITDA: 3.2x
(3.0x proforma)
Hedged
Not hedged
Gross debt by indexer
12. 12
Debt Structure and Amortization
84% has already been addressed
Amortization 2016 - 2017
* Expiration already equated through issues or contracts signed with BNDES.
Emissions since Apr/2016
• April 2016: R$587.0 million in MSVia, part of the long-term
loan with the BNDES, totaling R$2.3 billion, maturing up to
2039;
• May 2016: R$750 million in RodoAnel, with the 5th
debenture issue, maturing up to 2019.
Amortization (R$ MM) 2016 2017
SPVias* 1,284 35
RodoAnel Oeste* 865 835
CCR* 688 673
MSVia* 569 0
AutoBAn 430 546
ViaOeste* 225 285
Metrô Bahia* 221 610
Barcas* 205 0
NovaDutra 94 365
TOTAL 4,583 3,349
TOTAL AMORTIZATION 4,820 4,008
Executed: