Reset EcoRodovias help toll to 43% higher profit

São Paulo – Reset toll rates helped EcoRodovias having a 43% jump in net income for the first quarter, as the traffic on the highways administrated by the company was almost stable compared to the previous year.
Infrastructure concessions operator reported on Monday that your comparable profit from January to March totaled 98 million reais, up 42,7% on a year before.
The result measured by earnings before interest, taxes, depreciation and amortization (Ebitda) proforma advance from 10,7% year on year, to 442,700,000 reais. The Ebitda margin was stable at 66,8%.
The consolidated volume of traffic of the highways under concession EcoRodovias in period was 0,6% higher than in the same period last year.
But the company''s net revenue rose 10,7%, pro forma basis 662,700,000 reais, driven by the increase in average fare consolidated 9% vehicle, "due mainly to the application of tariff adjustments in the highway concessions," explained EcoRodovias in the balance sheet.
The consolidated box cost, excluding non-recurring items, totaled 174,900,000 dollars, reduction of 1,8%.
In the other business segments of the company, gross revenues grew 35%, construction 87,100,000 reais, while Santos Ecoporto was discharged from 14,3%, to 73,700,000 reais.
The company stated that your investment plan to 2017 is 912 million reais, getting slightly above the forecast for this year on the occasion of the fourth-quarter results of 2016, of 835 million. Last year, the company disclosed total investment of 624 million reais.
The EcoRodovias ended March with a debt ratio of 2.7 times pro forma Ebitda over before 2.8 times a year earlier. Net debt in the range rose 2,2%, 4.2 billion reais.