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Arteris announces its 3Q15 Earnings Release

São Paulo, November 13, 2015.



Arteris (Novo Mercado Bovespa: ARTR3) announces its 3Q15 consolidated earnings results



3Q15 HIGHLIGHTS

Tolled Traffic: In 3Q15 the volume of tolled traffic totaled 170.0 million vehicle equivalents, 8.9% down on 3Q14, due to Brazil's economic slowdown and the elimination, since April, of charging for the suspended axles of empty heavy vehicles on federal highways. Despite the overall reduction, the volume of light vehicles increased by 2.2% in the quarter and 3.6% in 9M15.

Toll Plaza Revenue:Toll plaza revenue came to R$627.4 million in 3Q15, a slight decrease of 1.3% over the same period last year, while year-to-date revenue totaled R$1.8 billion, 1.2% more than in 9M14. Despite the reduction in traffic, toll plaza revenue remained more-or-less flat, due to period tariff adjustments, which were above inflation in certain federal concessions, due to the correction of imbalances.

EBITDA and Adjusted EBITDA: Third quarter EBITDA increased by 14.4% over 3Q14 to R$330.7 million, while Adjusted EBITDA declined by 10.8% to R$381.8 million, with a margin of 65.8%.

Debt: Net debt closed 3Q15 at R$5.3 billion, 6.0% more than at the end of 2Q15. The leverage ratio, as measured by Net Debt / Adjusted EBITDA less Fixed Concession Fee (last 12 months) ratio was 3.75x.

Investments: Investments in toll roads, mainly federal highways, came to R$432.2 million in 3Q15 and R$1.3 billion in 9M15.

Net Income: Arteris posted net income of R$44.0 million in 3Q15, 70% down year-on-year, and R$161.3 million in the first nine months, down by 52.4% over 9M14, chiefly due to higher depreciation and the financial result, impacted by the increase in debt and interest.


To download the 3Q15 earnings release, click here.

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