CCR – Results for the 3rd quarter of 2017

IFRS

Proforma

Financial Indicators (R$ MM)

3Q16

3Q17

Chg %

3Q16

3Q17

Chg %

Net Revenues1

1,778.2

1,983.1

11.5%

2,009.4

2,136.0

6.3%

Adjusted Net Revenues on the same basis2

1,778.2

1,860.6

4.6%

1,909.6

1,989.8

4.2%

Adjusted EBIT3

2,118.0

899.7

-57.5%

2,225.9

969.5

-56.4%

Adjusted EBIT Mg.4

119.1%

45.4%

-73.7 p.p.

110.8%

45.4%

-65.4 p.p.

EBIT on the same basis2

810.4

828.6

2.2%

871.2

891.8

2.4%

EBIT Mg. on the same basis2

45.6%

44.5%

-1.1 p.p.

45.6%

44.8%

-0.8 p.p.

Adjusted EBITDA5

2,430.7

1,268.9

-47.8%

2,576.8

1,372.8

-46.7%

Adjusted EBITDA Mg.4

136.7%

64.0%

-72.7 p.p.

128.2%

64.3%

-63.9 p.p.

Adjusted EBITDA on the same basis2

1,123.1

1,187.3

5.7%

1,214.1

1,279.9

5.4%

Adjusted EBITDA Mg. on the same basis2

63.2%

63.8%

0.6 p.p.

63.6%

64.3%

0.7 p.p.

Net Income

1,151.1

472.3

-59.0%

1,151.1

472.3

-59.0%

Net Income on the same basis2

265.5

433.1

63.1%

265.5

433.1

63.1%

Net Debt / Adjusted EBITDA LTM (x)6

2.3

2.2

2.2

2.2

Adjusted EBITDA / Performed investments (x)

4.5

1.8

3.9

2.0

Adjusted EBITDA / Interest and Monetary Variation (x)

5.9

5.6

6.0

5.4

IFRS

Proforma

Financial Indicators (R$ MM)

9M16

9M17

Chg %

9M16

9M17

Chg %

Net Revenues1

5,013.8

5,516.7

10.0%

5,785.0

6,014.1

4.0%

Adjusted Net Revenues on the same basis2

5,013.8

5,274.1

5.2%

5,409.7

5,646.6

4.4%

Adjusted EBIT3

3,457.8

2,878.8

-16.7%

3,791.0

3,108.1

-18.0%

Adjusted EBIT Mg.4

69.0%

52.2%

-16.8 p.p.

65.5%

51.7%

-13.8 p.p.

EBIT on the same basis2

2,150.2

2,194.1

2.0%

2,329.0

2,369.6

1.7%

EBIT Mg. on the same basis2

42.9%

41.6%

-1.3 p.p.

43.1%

42.0%

-1.1 p.p.

Adjusted EBITDA5

4,383.3

3,929.4

-10.4%

4,841.2

4,261.2

-12.0%

Adjusted EBITDA Mg.4

87.4%

71.2%

-16.2 p.p.

83.7%

70.9%

-12.8 p.p.

Adjusted EBITDA on the same basis2

3,075.6

3,224.6

4.8%

3,350.2

3,486.6

4.1%

Adjusted EBITDA Mg. on the same basis2

61.3%

61.1%

-0.2 p.p.

61.9%

61.7%

-0.2 p.p.

Net Income

1,544.4

1,468.4

-4.9%

1,544.4

1,468.4

-4.9%

Net Income on the same basis2

561.2

1,031.8

83.9%

561.2

1,031.8

83.9%

Net Debt / Adjusted EBITDA LTM (x)6

2.3

2.2

2.2

2.2

Adjusted EBITDA / Performed investments (x)

2.8

1.7

2.4

1.8

Adjusted EBITDA / Interest and Monetary Variation (x)

3.5

4.6

3.7

4.6

1 Net revenue excludes construction revenue.

2 Same-basis figures exclude: (i) ViaQuatro, which became a subsidiary in 2Q17; (ii) the non-recurring effect of the sale of STP, of R$1,307.7 million on EBITDA and R$863.1 million on net income, in 3Q16; and (iii) STP, ViaRio and VLT, in same-basis profit and same-basis proforma comparisons.

3 Calculated by adding net revenue, construction revenue, cost 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, provision for maintenance and the recognition of prepaid concession expenses.

6 LTM 3Q17 adjusted EBITDA includes non-recurring effects of the acquisition of stakes in ViaQuatro and ViaRio (R$548.1 million). Excluding these effects on EBITDA, the Net Debt/EBITDA ratio came to 2.5x (2.4x in proforma figures) in September 2017.

Conference Calls/Webcast

Access to the conference calls/webcasts:

Conference call in Portuguese: 

Friday, October 27, 2017
11:00 a.m. São Paulo / 09:00 a.m. New York

Participants calling from Brazil: (11) 3193-1001 or (11) 2820-4001
Access code: CCR 
Replay: (11) 3193-1012 or (11) 2820-4012
Code: 9955228#

Conference call in English:

Friday, October 27, 2017
12:00 p.m. São Paulo / 10:00 a.m. New York

Participants calling from Brazil: (55 11) 3193-1001 or (55 11) 2820-4001 
Participants calling from the United States: (+1) 888-700-0802
Participants calling from other countries: (+1) 786-924-6977
Access code: CCR
Replay: (11) 3193-1012 or (11) 2820-4012
Code: 6684953#

The instructions to participate in these events are available on CCR’s website: www.ccr.com.br/ir.

IR Contacts

Marcus Macedo (+55 11) 3048-5941
Flávia Godoy: (+55 11) 3048-5955
Daniel Kuratomi: (+55 11) 3048-6353
Marcela Dias (+55 11) 3048-2108

SOURCE CCR S.A.

Related Links

http://www.ccr.com.br/ir

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About the Author: Carrie Brunner

Carrie Brunner grew up in a small town in northern New Brunswick. She studied chemistry in college, graduated, and married her husband one month later. They were then blessed with two baby boys within the first four years of marriage. Having babies gave their family a desire to return to the old paths – to nourish their family with traditional, homegrown foods; rid their home of toxic chemicals and petroleum products; and give their boys a chance to know a simple, sustainable way of life. They are currently building a homestead from scratch on two little acres in central Texas. There’s a lot to be done to become somewhat self-sufficient, but they are debt-free and get to spend their days living this simple, good life together with their five young children. Carrie writes mostly on provincial stories.
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