SAO PAULO, BRAZIL--(Marketwire - Aug 11, 2011) - CCR S.A. (BOVESPA: CCRO3), Brazil's largest road concession operator in terms of revenue, announces its results for the second quarter of 2011.
Presentation of the Results
The Quarterly Financial Statements (ITR) were prepared and are being presented in accordance with accounting practices adopted in Brazil for the Parent Company ("CPC") and according to the International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB") for the Consolidated results, as well as pursuant to the conditions contained in Brazilian Corporate Law, the standards defined by the Securities Exchange Commission ("CVM"), and the Statements, Guidelines and Interpretations, issued by the Accounting Statements Committee ("CPC"), consistently applied to the Accounting Statements according to the accounting practices described in Explanatory Note 3 of this quarterly report regarding the information contained herein.
Unless otherwise stated, the financial and operational information contained below are presented on a consolidated basis in thousands of Reais (R$) pursuant to Brazilian Corporate Law and the comparisons refer to 2Q10 and 1S10. Non-financial information, as well as other operating information was not subject to review by the independent auditors.
The values presented take into consideration the changes introduced by the IFRS and their respective impact, as described in the Press Release for 2010 in the section "IFRS Conceptual Supplement," which is available on our website.
Highlights
Comments from the CEO
Renato Alves Vale: "It is with great satisfaction that we once again present to our shareholders, the market, employees, users and the public in general with the results obtained by CCR for the second quarter of 2001.
"Industrial production declined 0.7% during this quarter, compared to 1Q11. Nevertheless, we still posted substantial increases in the traffic on our highways, registering a growth of 12.3% compared to the same period last year. On a comparable basis (same concessions), the growth was 5.9%.
"This performance made it possible for CCR to continue to meet its commitment to distribute dividends to its shareholders with the proposal to pay intermediate dividends of R$1.59 per share, for a total of R$ 701.8 million in line with the company's solid financial position.
"We continue to be encouraged by the economic outlook for Brazil and in the potentials for infrastructure development and infrastructure, in addition to the expectation of new opportunities for growth as a result of the 2014 World Cup and the Olympic Games in 2016, while always giving priority to capital discipline and, consequently, the creation of value for the Company and its shareholders, and in this way contributing to the socioeconomic development of our country."
Next Events
Conference Call
Portuguese:
Friday, August 12, 2011
12h30 p.m. São Paulo / 11h30 a.m. New York
Telephone: 55 11 4688-6361
Code: CCR
Replay: 55 11 4688-6312
Code: 1922077
English:
Friday, August 12, 2011
14h00 p.m. São Paulo / 13h00 p.m. New York
Brasil: 55 11 4688-6361
USA: (+1) 888-700-0802
Other Countries: (+1) 786-924-6977
Code: CCR
Replay: 55 11 4688-6312 / Code: 5384143
Webcast: www.grupoccr.com.br/investor
Webcast: www.grupoccr.com.br/investidores
Contact Information:
IR Contacts
Marcus Macedo
55 11 3048-5941
Flavia Godoy
55 11 3048-5955
Danilo Cabrera
55 11 3048-6353
invest@grupoccr.com.br
Site: http://ccr.riweb.com.br/