Arteris announces its 4Q14 and 2014 Earnings Results
Tolled Traffic: In 4Q14, the volume of tolled traffic increased by 2.7% over 4Q13, totaling 190.1 million vehicle equivalents. In the full
year, on a same-comparison basis, growth came to 1.6%.
Toll Plaza Revenue: Toll plaza revenue amounted to R$639 million in the quarter, 5.9% up on 4Q13. The federal highways posted an improvement
of 9.0%, while the state highways recorded growth of 3.7%. In the year as a whole, toll plaza revenue totaled R$2.4 billion,
5.7% more than in 2013.
Adjusted EBITDA: Fourth-quarter adjusted EBITDA stood at R$383.2 million, 2.4% up year-on-year, accompanied by an adjusted EBITDA margin of
64.7%. In 2014, adjusted EBITDA came to R$1.5 billion (+5.2%), with a margin of 66.5%.
Debt: Net debt closed 4Q14 at R$4.4 billion, 9.9% higher than in the previous quarter. The leverage ratio, as measured by Net Debt
/ Adjusted EBITDA less the Fixed Concession Fee (last 12 months) was 3.1x.
Investments: Investments in fixed and intangible assets and highway maintenance totaled R$546.5 million in 4Q14 and R$1.8 billion in the
Contractual Amendments: Signature of contractual amendments for the duplication of the Serra do Cafezal (Autopista Régis Bitencourt), the inclusion of new works at Autovias (duplication of the SP-318) and the inclusion of several improvements at Autopista Fluminense.
To download the 4Q14 earnings release, click here.