Brazilian highway concessionaire Triunfo Participações e Investimentos (TPI) (Bovespa: TPIS3) reported a 334mn-real (US$154mn) loss for Q3.
However, net revenues rose 72.1% from 45.1mn reais to 77.6mn reais year-over-year. Ebitda increased to 46.6mn reais in the third quarter, a 145% rise over 3Q07.
For the first nine months of the year, the company posted a consolidated loss of 478mn reais.
Net revenues grew 60.9% to 215mn reais from January-September this year. Ebitda increased to 120mn reais for the same period, an 84.4% jump, according to a company release.
Losses are due to stronger dollar exchange rates, acquisitions and investments, a TPI spokesperson told BNamericas, adding that the figures should show a turnaround in about six months.
"Our highway concessions received 10.1% more vehicle traffic in Q3 in comparison to the same period last year," TPI CEO Carlo Alberto Bottarelli said during a conference call.
He added that third quarter TEU movement at TPI managed ports increased 60.7% year-on-year.
No comments:
Post a Comment