The infrastructure concessions administrator Ecorodovias announced on Thursday night (5) that it had recurring net income of R$ 16.9 million in the first quarter, a drop of 81.2% compared to the same period last year.
Already its operating result measured by earnings before taxes, interest, depreciation and amortization (Ebitda) totaled R$ 475.8 million between January and March, a decline of 17.3% in the annual comparison.
The Ebitda margin dropped 7 percentage points, to 61.8%.
At 11:32 am, Ecorodovias shares fell 3.8% on the Brazilian stock exchange and were among the main falls of the Ibovespa in the session.
The main index of the Brazilian stock market rose 0.13% at the same time.
Adjusted quarterly gross revenue, excluding construction revenue, fell 6.9% year-on-year to R$923.2 million, due to the end of the Ecocataratas and Ecovia Caminho do Mar concession contracts in November.
On the same basis, revenue increased 13.2%, with traffic growth and toll tariff readjustments.
This morning, the company announced that the volume of paying vehicles in its concessions on a comparable basis rose 11.6% in April compared to the same month last year, while in the first quarter the growth was 8%, according to figures previously released by the company. .
At the other end, operating costs and administrative expenses reached R$ 822.7 million in the first quarter, up 33.1%, mainly due to the increase in construction costs.
Source: CNN Brasil
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