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Brazil’S CCR Group’S Q3 2024 Results Show Strong Growth
(MENAFN- The Rio Times) CCR Group, a leading Brazilian infrastructure company, reported impressive financial results for the third quarter of 2024. The company's adjusted net profit reached R$560 million ($98.2 million), an 11.7% increase from 2023.
This growth reflects CCR's successful operational and financial strategies. The company's adjusted net revenue rose to R$3.782 billion ($663.5 million), a 10.7% year-over-year increase.
This growth stems from record traffic levels across CCR's transportation infrastructure. Highway concessions saw a 4.4% traffic increase, urban mobility services experienced a 5.1% rise in demand, and the airport segment showed an 8.8% increase in passenger numbers.
CCR's adjusted EBITDA reached R$2.190 billion ($384.2 million), a 3.2% increase from the previous year. However, the EBITDA margin slightly decreased to 57.9%, down 4.2 percentage points.
The company's financial management strategies have yielded positive results. CCR reduced its holding company's net debt by 8%, from R$3.97 billion to R$3.65 billion ($640.4 million).
The company's leverage ratio, measured by net debt to adjusted EBITDA, remained stable at 3.1 times. CCR invested R$2.1 billion ($368.4 million) in the third quarter, a 57.9% increase from 2023.
However, these investments primarily focused on infrastructure projects in São Paulo and other key regions. The company also raised R$6.46 billion ($1.13 billion) through various funding initiatives in recent months.
These results highlight CCR's resilience in a challenging economic environment. The company's ability to increase profits while managing debt effectively demonstrates its strategic acumen.
CCR's performance suggests a positive outlook for Brazil 's infrastructure sector. As CC continues to invest in key projects and optimize its operations, it remains well-positioned for future growth.
In short, the company's success reflects the broader recovery in Brazil's transportation and infrastructure sectors, serving as a barometer for the country's economic health and infrastructure development.
This growth reflects CCR's successful operational and financial strategies. The company's adjusted net revenue rose to R$3.782 billion ($663.5 million), a 10.7% year-over-year increase.
This growth stems from record traffic levels across CCR's transportation infrastructure. Highway concessions saw a 4.4% traffic increase, urban mobility services experienced a 5.1% rise in demand, and the airport segment showed an 8.8% increase in passenger numbers.
CCR's adjusted EBITDA reached R$2.190 billion ($384.2 million), a 3.2% increase from the previous year. However, the EBITDA margin slightly decreased to 57.9%, down 4.2 percentage points.
The company's financial management strategies have yielded positive results. CCR reduced its holding company's net debt by 8%, from R$3.97 billion to R$3.65 billion ($640.4 million).
The company's leverage ratio, measured by net debt to adjusted EBITDA, remained stable at 3.1 times. CCR invested R$2.1 billion ($368.4 million) in the third quarter, a 57.9% increase from 2023.
However, these investments primarily focused on infrastructure projects in São Paulo and other key regions. The company also raised R$6.46 billion ($1.13 billion) through various funding initiatives in recent months.
These results highlight CCR's resilience in a challenging economic environment. The company's ability to increase profits while managing debt effectively demonstrates its strategic acumen.
CCR's performance suggests a positive outlook for Brazil 's infrastructure sector. As CC continues to invest in key projects and optimize its operations, it remains well-positioned for future growth.
In short, the company's success reflects the broader recovery in Brazil's transportation and infrastructure sectors, serving as a barometer for the country's economic health and infrastructure development.
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