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19.10.2017 20:00:00
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407 International Reports Third Quarter Results
TORONTO, Oct. 19, 2017 /CNW/ - 407 International Inc. (the "Company") announced today revenues of $348.7 million for the third quarter of 2017, compared to $321.3 million for the same period of 2016. Earnings before interest, taxes, depreciation and amortization ("EBITDA"[1]) totalled $307.8 million for the third quarter of 2017 as compared with $284.9 million for same period of 2016. The Company reported net income of $143.2 million for the third quarter of 2017 as compared with $115.9 million for same period of 2016.
The Board of Directors declared an eligible dividend of $0.277 per common share, payable on or about October 19, 2017, to shareholders of record on October 19, 2017.
The Company is owned by Cintra Global Holding Limited, a wholly owned subsidiary of Ferrovial S. A. (43.23%), by indirectly owned subsidiaries of Canada Pension Plan Investment Board (total 40%), and by SNC-Lavalin (16.77%).
News releases are available at www.407etr.com.
Highlights
Unaudited
Three-month period | Nine-month period | |||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||
Selected Financial Information (in millions) | ||||||||||||||
Revenues | $ | 348.7 | $ | 321.3 | $ | 940.4 | $ | 837.4 | ||||||
Operating expenses | 40.9 | 36.4 | 120.9 | 107.5 | ||||||||||
Depreciation and amortization | 27.8 | 26.9 | 78.7 | 79.7 | ||||||||||
Interest and other expenses | 85.7 | 100.4 | 257.3 | 275.8 | ||||||||||
Income before tax | 194.3 | 157.6 | 483.5 | 374.4 | ||||||||||
Income tax expenses | 51.1 | 41.7 | 128.3 | 99.5 | ||||||||||
Net income | $ | 143.2 | $ | 115.9 | $ | 355.2 | $ | 274.9 | ||||||
Traffic | ||||||||||||||
Total trips (in thousands) | 33,495 | 33,535 | 93,612 | 92,813 | ||||||||||
Average revenue per trip | $10.33 | $9.42 | $9.92 | $ | 8.93 | |||||||||
Average workday number of trips | 435,712 | 433,213 | 410,255 | 405,354 | ||||||||||
Total vehicle kilometres (in thousands) | 755,750 | 753,864 | 2,019,700 | 1,966,126 | ||||||||||
Number of transponders in circulation | ||||||||||||||
at September 30 | 1,409,817 | 1,325,166 | ||||||||||||
[1] | EBITDA is not a recognized measure under International Financial Reporting Standards and investors are cautioned that EBITDA should |
SOURCE 407 International Inc.
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