407 International Reports Second Quarter Results

TORONTO, July 13, 2017 /CNW/ - 407 International Inc. (the "Company") announced today revenues of $331.0 million for the second quarter of 2017, compared to $290.8 million for the same period of 2016.  Earnings before interest, taxes, depreciation and amortization ("EBITDA"1) totalled $291.2 million for the second quarter of 2017 as compared with $257.4 million for same period of 2016.  The Company reported net income of $124.6 million for the second quarter of 2017 as compared with $94.4 million for same period of 2016.

The Board of Directors declared an eligible dividend of $0.277 per common share, payable on or about July 13, 2017, to shareholders of record on July 13, 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.

______________________________
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. EBITDA less depreciation and amortization, interest and other expenses and income tax expenses, results in net income.

Highlights
Unaudited


Three-month period


Six-month period 


ended June 30


 ended June 30


2017


2016


2017


2016

















Selected Financial Information (in millions)









Revenues

$

331.0


$

290.8


$

591.7


$

516.1










Operating expenses

39.8


33.4


80.0


71.1


Depreciation and amortization

26.5


27.0


50.9


52.8


Interest and other expenses

94.4


101.6


171.6


175.4


Income before tax

170.3


128.8


289.2


216.8


Income tax expenses

45.7


34.4


77.2


57.8


Net income

$

124.6


$

94.4


$

212.0


$

159.0

































Traffic









Total trips (in thousands)

33,575


32,486


60,117


59,278


Average revenue per trip

$9.99


$8.92


$9.70


$8.65


Average workday number of trips

427,209


422,411


397,728


391,424


Total vehicle kilometres (in thousands)

699,776


677,925


1,263,950


1,212,262


Number of transponders in circulation









at June 30





1,387,290


1,297,990

SOURCE 407 International Inc.

For further information: Investors: Geoffrey Liang, Chief Financial Officer, Tel: 905-265-4070; Media: Kevin Sack, Vice President, Marketing, Communications and Government Relations, Tel: 905-264-5374


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