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Classified in: Transportation, Business
Subject: ERN

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
ended September 30

Nine-month period
ended September 30

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
not be construed as an alternative to net income or cash from operating activities as an indicator of the Company's performance or cash
flows.  The Company's method of calculating EBITDA may differ from other companies' methods, and may not be comparable to
measures used by other companies.

 

SOURCE 407 International Inc.


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