Le Lézard
Classified in: Transportation, Business, Covid-19 virus
Subjects: ERN, PER, ESG

407 International Reports 2021 Results


TORONTO, Feb. 17, 2022 /CNW/ - 407 International Inc. (the "Company") announced today revenues of $1,023.1 million for 2021, compared to $908.6 million for 2020. The Company reported net income of $212.4 million for 2021, compared to a net income of $148.0 million for 2020. Earnings before interest and other, taxes, depreciation and amortization ("EBITDA"1) totalled $859.0 million for 2021 compared to $739.9 million for 2020. 

The Board of Directors will continue to monitor the impact of the COVID-19 pandemic, and will review any potential dividend distribution to shareholders, as appropriate.

COVID-19 PANDEMIC

As a result of increased vaccination rates and the Province of Ontario easing COVID-19-related restrictions, overall traffic improved during 2021. In 2021, traffic volumes were higher by approximately 8% when compared to 2020. Despite the impact of the COVID-19 pandemic on overall traffic volumes and revenues, the Company maintains sufficient liquidity and expects to be able to satisfy all of its obligations in 2022.

ENVIRONMENTAL, SOCIAL, AND GOVERNANCE REPORTING (ESG)

The Company continues to advance its ESG practices. In 2021, the Company completed an ESG materiality assessment to assist with the development of a multi-year ESG strategy.

Other 2021 ESG highlights include:

APPOINTMENT

The Company is pleased to confirm the recent appointment to the Board of Directors of Mr. Jose Maria Velao, Chief Financial Officer, Cintra Infraestructuras, S.A., effective January 15, 2022.

The members of the Board of Directors are as follows:

ABOUT 407 INTERNATIONAL

The Company is owned by indirectly owned subsidiaries of Canada Pension Plan Investment Board (total 50.01%), also known as CPP Investments; Cintra Global S.E., a wholly owned subsidiary of Ferrovial S. A. (43.23%); and SNC-Lavalin (6.76%).

News releases are available at 407etr.com.

Highlights
(Unaudited)


Three-month period ended


Year ended


December 31


December 31


2021


2020


2021


2020

























Selected Financial Information (in millions)












Revenues

$

308.7


$

225.5


$

1,023.1


$

908.6

Operating expenses


49.0



44.3



164.1



168.7

EBITDA 1


259.7



181.2



859.0



739.9

Depreciation and amortization


28.0



23.9



102.2



97.4

Interest and other expenses


124.7



113.8



465.4



441.1

Income before tax


107.0



43.5



291.4



201.4

Income tax expenses


29.6



12.2



79.0



53.4

Net income

$

77.4


$

31.3


$

212.4


$

148.0

















































Traffic












Total trips (in thousands)


23,354



17,613



77,022



71,467

Average revenue per trip


$13.08



$12.63



$13.12



$12.55

Average workday number of trips


292,490



229,634



245,708



233,155

Total vehicle kilometres (in thousands)


520,264



363,850



1,695,715



1,500,500

Number of transponders in circulation












at December 31








1,617,409



1,590,665

 

____________________________

1 EBITDA is not a standardized financial measure under International Financial Reporting Standards and investors are cautioned that EBITDA should not be construed as an alternative to net income as an indicator of the Company's performance. The Company's method of calculating EBITDA may differ from other companies' methods, and may not be comparable to measures used by other companies. See "Non-IFRS Financial Measures" in the Company's management's discussion and analysis for the year ended December 31, 2021.

SOURCE 407 International Inc.


These press releases may also interest you

at 15:06
REI Path Ahead Ventures celebrates 16 emerging companies bringing new innovations and perspectives to the outdoor industry
REI Path Ahead Ventures is celebrating 16 emerging companies completing its Embark program, bringing the latest products and experiences to the outdoor industry. Embark is a three-month curriculum created in partnership with Founded Outdoors to...

at 15:05
Financial Advisor Mark Burgdorf Earns Diamond Status at Cetera Circle of Excellence
Mark Burgdorf, President and Senior Wealth Advisor of Burgdorf Wealth Managers, earned the Cetera Circle of Excellence Diamond Status at Cetera Financial Group's annual awards conference. Since 2013, Mark Burgdorf has been affiliated with Cetera, an...

at 15:00
SHAREHOLDER ACTION REMINDER: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Ventyx Biosciences
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Ventyx Biosciences, Inc. ("Ventyx" or the "Company") and reminds investors of the April 30, 2024 deadline to seek the role of lead plaintiff in a...

at 14:56
Armenian Political Prisoner, Ruben Vardanyan, Granted Permission to Speak With Family Who Plea for End to His Hunger Strike
Family members confirmed that thanks to the growing international public and government awareness, illegally detained philanthropist, Ruben Vardanyan, was granted permission to speak to his wife, Veronika, today. This marks only his second call to...

at 14:53
Erie Insurance receives Business Group on Health's 'Best Employers: Excellence in Health & Well-being' award
Erie Insurance (ERIE) has received the 2024 Best Employers: Excellence in Health & Well-being award from Business Group on Health. The annual corporate awards program recognizes companies across diverse sectors for advancing employee well-being...

at 14:48
Aurora Humanitarian Initiative and UCLA's The Promise Institute for Human Rights unveil speakers for May forum and prize events
The Aurora Humanitarian Initiative today announced its lineup of global thought leaders and local changemakers speaking at the upcoming Aurora Prize for Awakening Humanity events. They will convene May 8-10 at the UCLA Meyer and Renee Luskin...

More news about Business...


News published on and distributed by: