Q2 2024 Ecorodovias Infraestrutura e Logistica SA Earnings Call (English, Portuguese) Transcript
Key Points
- Vehicle traffic increased significantly, with a 10.6% rise in May 2024 and 13.3% in June, driven by heavy vehicles.
- Adjusted EBITDA reached BRL1.1 billion in Q2 2024, up 25% from the previous year, with a margin of 73.8%.
- Net income surged by 120% to BRL273 million in the quarter.
- Investments in Q2 2024 totaled BRL1 billion, marking an 11% increase from the same period in 2023.
- The company maintained an AA rating from MSCI ESG and high rankings in ANTT's Environmental Performance Index.
- Leverage remains relatively high at 3.3 times, despite a slight decrease from previous quarters.
- Some delays in CapEx execution are expected due to licensing issues, particularly for EcoVias do Araguaia and EcoRioMinas.
- The company faces ongoing discussions and uncertainties regarding the renewal of EcoPorto's contract.
- The effective tax rate remains high, with ongoing efforts needed to improve fiscal efficiency.
- Potential currency exchange rate fluctuations could impact CapEx costs, although current indicators are favorable.
Good morning, and welcome to EcoRodovias' second quarter of 2024 earnings presentation. With us here today are Marcello Guidotti, CEO, and Andrea Fernandes, CFO. This presentation is being recorded. (Operator Instructions)
The slides of this presentation are available on the company's Investor Relations website, ri.ecorodovias.com.br in the Results Center section. After the end of the earnings presentation, the recording will be available in the same section.
Before proceeding, we would like to clarify that the forward-looking statements that may be made during this presentation relating to EcoRodovias' business prospects, projections and operational and financial targets are based on the management's beliefs and assumptions, as well as on currently available information. They involve risks, uncertainties and assumptions as they refer to future events and hence, depend on circumstances that may or may not occur.
Investors should understand that general economic conditions, industry conditions and other operating factors may affect the future performance of EcoRodovias and lead
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