Arteris announces its 2Q15 Earnings Release
São Paulo, August 06, 2015.
Arteris (Novo Mercado Bovespa: ARTR3) announces its 2Q15 consolidated earnings results
Tolled Traffic: In 2Q15. the volume of tolled traffic totaled 165.1 million vehicle equivalents, 5.1% down on 2Q14, due to Brazil's economic slowdown and the prohibition, since April, of charging for the suspended axles of heavy vehicles on federal highways.
Toll Plaza Revenue:Toll plaza revenue came to R$588.1 million in 2Q15, 1.1% up on the same period last year, and R$1.2 billion in the first half, up by 2.6%. The improvement was due to period tariff adjustments, which were above inflation in certain concessions.
EBITDA and Adjusted EBITDA: Second-quarter EBITDA increased by 6.6% over 2Q14 to R$319.2 million, while the EBITDA margin widened by2.1 p.p. Adjusted EBITDA stood at R$354.9 million, up by 5.5%, with a margin of 64.2% (+1.7 p.p.).
Debt: Net debt closed 2Q15 at R$5.0 billion, 7% more than at the end of 1Q15. The leverage ratio, as measured by Net Debt / Adjusted EBITDA less Fixed Concession Fee (last 12 months) was 3.4x.
Investments: Investments came to R$473.3 million in the second quarter and R$900.8 million year-to-date.
Net Income: Net income totaled R$60.6 million in 2Q14, down by 34.1%, and R$117.3 million in 6M15, due to higher depreciation (as a result of an accounting change in 1Q15), and the financial result. On the other hand, the Company recorded revenue and EBITDA expansion in both periods.
To download the 2Q15 earnings release, click here.