User of the EcoVias Anchieta/Imigrantes System
Economic and
financial performance
financial performance
REGARDED AS ONE OF THE COUNTRY'S LARGEST INTEGRATED LOGISTICS COMPANIES AND ONE OF THE MAIN OPERATORS OF CUSTOMS TERMINALS, ECORODOVIAS EXHIBITS A POSITIVE ECONOMIC AND FINANCIAL PERFORMANCE DUE TO ITS FOCUS ON PROFITABLE BUSINESS, MONITORING OF RESULTS INDICATORS AND CONSTANT ECONOMIC SCENARIO AND INFRASTRUCTURE ANALYSES.
The consolidated financial statements and the disclosure of the results for the year were prepared in accordance with the IFRS.
The constant monitoring of internal and external indicators coupled with analyses of economic and infrastructure scenario trends makes it possible to define the Group's economic and financial business strategies.
Financial Policy, planning, proper corporate governance and social and environmental responsibility practices guarantee results that have a positive impact on EcoRodovias' market of operation.
In 2010, consolidated costs and expenses totaled R$755.9 million, representing 52.9% of net revenue.
Consolidated net income in 2010 was
R$594.0 million, which translates into a 41.6% net margin and a 176.1% increase vis-a-vis 2009.
Gross debt totaled R$1,771.3 million at the end of the year, while net debtcame to a figure of R$898.7 million.
Consolidated investments were equal to R$254.7 million .
In 2010, EcoRodovias' Value Added Statement pointed to a total generated and distributed amount of R$1,287.8 million, up by 75.7% against 2009.
In April 2010, EcoRodovias' IPO raised a total of R$1,368 million, R$872 million from the primary offering.
EcoRodovias' shares registered a 34.5% appreciation between April and December 2010, while the Ibovespa index posted a 2.6% drop during the same analysis period.
APPROPRIATE FINANCIAL POLICY, INCREASED TRAFFIC VOLUME AND GOOD MANAGEMENT ALL HAD A POSITIVE IMPACT ON THE GROUP'S ECONOMIC AND FINANCIAL PERFORMANCE.
Investments
in logistics
30.5 million THE PRICE OF SHARES NCREASED BY IN 2010
34.5%
30.5 million THE PRICE OF SHARES NCREASED BY IN 2010
34.5%
In 2010, Grupo EcoRodovias flexibilized its operations, prioritized cost control and preserved its cash in order to enhance its economic and financial performance. This issue is addressed in Chapter 4.
For the disclosure of the results for the year in question, the consolidated financial statements were prepared in accordance with the IFRS, and their effects are explained in the notes to the financial statements. Throughout the year, the Group followed a well-defined planning, its financial policy, good governance and social and environmental responsibility practices, resulting in positive impacts on the market.
In 2010, net revenue grew by 26.6% against 2009, totaling R$1,427.6 million. Taking into account the application of the new accounting standards, EBITDA totaled R$812.1 million. Net financial income totaled R$199.5 million, up by 14.4% against the R$174.3 million reported in 2009. Consolidated shareholders' equity in 2010 amounted to R$594.0 million, equivalent to a net margin of 41.6%, and up by 176.1% against the previous year. Gross debt totaled R$1,517.2 million at the end of the year, and net debt was R$1,234.5 million.
EcoRodovias' consolidated investments in 2010 amounted to R$254.7 million. Regarding highway concessions, total investments in the year amounted to R$215.4 million. In the logistics segment, investments amounted to R$30.5 million, down by 49.3% due to works concluded in 2009.
The value of Grupo EcoRodovias' shares increased by 34.5% from April to December 2010, while the Bovespa Index fell 2.6% in the period, as described in the performance chart shown in the item "Performance and Results". Still in 2010, EcoRodovias proposed the payment of dividends of R$274.0 million, equivalent to 50% of the shareholders' equity ascertained.
EcoRodovias is seen as one of the largest logistics integration companies in Brazil, as well as a major operator of bonded terminals; this position notwithstanding, the Company is attentive to cargo transportation opportunities in ports and airports with the purpose of expanding its business. In 2011, the Group will focus on maintaining investments in existing highway concessions, participating in new highway concession bids and purchasing concessions and logistics companies in the secondary market.
For the disclosure of the results for the year in question, the consolidated financial statements were prepared in accordance with the IFRS, and their effects are explained in the notes to the financial statements. Throughout the year, the Group followed a well-defined planning, its financial policy, good governance and social and environmental responsibility practices, resulting in positive impacts on the market.
In 2010, net revenue grew by 26.6% against 2009, totaling R$1,427.6 million. Taking into account the application of the new accounting standards, EBITDA totaled R$812.1 million. Net financial income totaled R$199.5 million, up by 14.4% against the R$174.3 million reported in 2009. Consolidated shareholders' equity in 2010 amounted to R$594.0 million, equivalent to a net margin of 41.6%, and up by 176.1% against the previous year. Gross debt totaled R$1,517.2 million at the end of the year, and net debt was R$1,234.5 million.
EcoRodovias' consolidated investments in 2010 amounted to R$254.7 million. Regarding highway concessions, total investments in the year amounted to R$215.4 million. In the logistics segment, investments amounted to R$30.5 million, down by 49.3% due to works concluded in 2009.
The value of Grupo EcoRodovias' shares increased by 34.5% from April to December 2010, while the Bovespa Index fell 2.6% in the period, as described in the performance chart shown in the item "Performance and Results". Still in 2010, EcoRodovias proposed the payment of dividends of R$274.0 million, equivalent to 50% of the shareholders' equity ascertained.
EcoRodovias is seen as one of the largest logistics integration companies in Brazil, as well as a major operator of bonded terminals; this position notwithstanding, the Company is attentive to cargo transportation opportunities in ports and airports with the purpose of expanding its business. In 2011, the Group will focus on maintaining investments in existing highway concessions, participating in new highway concession bids and purchasing concessions and logistics companies in the secondary market.