CCR Achieves Remarkable Profit Surge in the Second Quarter

In a striking financial achievement, CCR (CCRO3) reported a net profit of R$411 million ($72.7 million) in Q2 2024.

This represents a 102.1% increase from the previous year. Such a surge stems from more traffic on managed highways and better operational efficiency.

Furthermore, the company’s adjusted EBITDA climbed to R$2 billion ($353.98 million), up 14.4% from Q2 2023. Additionally, the adjusted EBITDA margin increased by 0.9 percentage points, reaching 57.6%.

CCR (CCRO3) is a leading infrastructure concession company that plays a crucial role in enhancing transportation networks in Brazil

These improvements mirror strong demand across all transport types and reduced operational costs.

Especially, EBITDA gains were driven by expanded activities in highways, urban mobility, and airports. Also, CCR’s net revenue increased by 12.5% to R$3.4 billion ($601.77 million).

More highway traffic, urban mobility, and increased airport passenger volumes fueled this boost. Moreover, ancillary revenues grew by 18.6% due to various operational initiatives.

Miguel Setas, president of the CCR Group, reaffirmed the company’s dedication to sustainable value creation. He stressed the critical role of ongoing investments in shaping the company’s future.

Overall, CCR’s financial results and strategic direction not only showcase its adaptability in a volatile economy but also strengthen its sector leadership.

Background

Two weeks ago, the São Paulo government has terminated CCR Group’s concession for Line 15-Silver, as announced by the Secretary of Partnerships and Investments.

Despite this, the Metro will maintain normal operations, and a new bid process is pending.

Daily, Line 15-Silver transports approximately 115,000 passengers and links to Line 2-Green.

Initially planned in 2009 with 18 stations, the line stretches 26.6 kilometers. It aimed for completion by 2012 with a budget of R$ 6.4 billion, but delays occurred, and only a few stations opened by 2018.

ViaMobilidade Consortium, part of CCR, secured the concession in March 2019, facing no competition.

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