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407 International Reports Third Quarter Results


News provided by

407 International Inc.

Oct 19, 2017, 14:00 ET

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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.

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

Organization Profile

407 International Inc.

You just read:

407 International Reports Third Quarter Results

News provided by

407 International Inc.

Oct 19, 2017, 14:00 ET

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Sep 05, 2017, 15:44 ET

Preview: 407 International Inc. to Redeem $300 Million of Subordinated Notes

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