Arteris announces its 1Q16 Earnings Release
São Paulo, May 13, 2016.
Arteris (Novo Mercado Bovespa: ARTR3) announces its 1Q16 consolidated earnings results
Toll Plaza Revenue: Toll plaza revenue came to R$621.2 million in 1Q16, 3.7% up on 1Q15. Despite the reduction in traffic, toll plaza revenue remained positive, due to period tariff adjustments, which were above inflation in certain federal concessions due to the correction of imbalances.
EBITDA and Adjusted: First-quarter EBITDA fell by 3.0% over 1Q15 to R$328.6 million, while adjusted EBITDA increased by 10.1% to R$402.8 million, with a margin of 69.9%.
Debt: Net debt closed 1Q16 at R$5.9 billion, 4.3% more than at the end of 4Q15. Leverage, as measured by the Net Debt / Adjusted EBITDA less Fixed Concession Fee (last 12 months) ratio was 4.17x.
Investments: Investments in toll roads, mainly federal highways, came to R$334.1 million in 1Q16.
Net Income: Arteris posted net income of R$13.5 million in 1Q16, due to economic activity, higher depreciation and the financial result, which was impacted by the increase in debt and higher interest rates.
To download the 1Q16 earnings release, click here.