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Arteris announces its 3Q14 consolidated earnings results

3Q14 HIGHLIGHTS:

  • Tolled Traffic: In 3Q14, the volume of tolled traffic increased by 2.3% over 3Q13, totaling 186.7 million vehicle equivalents. Year to date, on a same-comparison basis, the growth stood at 2.2%.
  • Toll Plazas Revenue: Toll plaza revenue came to R$636 million in the quarter, an increase of 5.7%. When comparing 3Q14 with 3Q13, federal highways posted an improvement of 9%, while state highways recorded a growth of 3.5%. Year to date, toll plaza revenue totaled R$1.8 billion, moving up by 5.7% in 9M14 when compared with 9M13.
  • Adjusted EBITDA: Toll plaza revenue amounted to R$428.1 million (+12.3%) in the quarter, with an adjusted margin of 71% (+1.9 p.p.). In 9M14, adjusted EBITDA totaled R$1.1 billion (+6.1%), with a margin of 67.1%.
  • Net Income: Increase of 13.5% in relation to 3Q13, totaling R$146.5 million. When comparing 9M14 with 9M13, growth came to 3.2%, for a total of R$339.3 million.
  • Debt: Net debt closed 3Q14 at R$4 billion, 8.7% higher than in 2Q14. The leverage ratio, as measured by Net Debt / Adjusted EBITDA less Fixed Concession Fee (last 12 months) was 2.8x.
  • Investments: Investments in fixed and intangible assets and highway maintenance totaled R$489.4 million in 3Q14. In 9M14, the Company's investments amounted to R$1.3 billion.


To download the 3Q14 earnings release, click here.

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