Ecorodovias has a profit of R$ 128 million in the 3rd quarter

The infrastructure concessions administrator Ecorodovias announced this Monday (7) net income of R$ 128.2 million for the third quarter, a decrease of 10.8% compared to the same period in 2021.

The company reported adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of R$ 557 million in adjusted terms, an annual decrease of 12.5%. The margin for the period went from 69% to 62.8%.

Analysts’ average forecast for Ecorodovias’ Ebitda in the third quarter was R$515 million, according to Refinitiv data.

The company had adjusted revenue of BRL 1.05 billion between July and September, down 2.8% over the third quarter of 2021.

In September, Ecorodovias won the auction for the highway concession for the northwest lot of São Paulo, consisting of roads that connect cities such as São José do Rio Preto, Araraquara, São Carlos and Barretos, with a fixed grant value of R$1.236 billion.

Source: CNN Brasil

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