Annual profit increase of 39,6% for Ferrovial’s 407 International in Toronto

News

The 407 ETR in Canada
The 407 ETR located in Toronto, Ontario (Canada) runs parallel to the first city ring road, the 401, one of North America's most congested highways. The Highway 407 is an all-electronic open-access toll highway that stretches 108 kilometers from Burlington to Pickering, Canada connecting to seven other large freeways. 
The net profit of the 407 International, 43.23% of which is overseen by Ferrovial increased by 39.6% during 2015 reaching a grand total of 311.2 million Canadian dollars (US $ 220.9 million).

According to a press release, 407 International have said that the Ebitda (a term which refers to the earnings before interest, taxes, depreciation and amortization) totaled $ 840 million, an increase of 14.1% on the previous year. The company revenue for last year totaled 1,002.2 million, a whole 12.9% more than in 2014.

This increase in revenue was partly due to the record number of trips taken on the highway last year as well as the number of vehicles and kilometers recorded on the highway. The EFE press release states that the number of trips taken on the highway in 2015 was 30.8 million with the average revenue per trip totaling 8.16 Canadian dollars. The figure for the number of vehicles / km was 634.9 million.

The 407 International is owned by Cintra Infraestructuras (a subsidiary of Ferrovial) which controls 43.23% of the company alongside Canada Pension Plan Investment Board who have a 40% stake and the Canadian engineering firm SNC-Lavalin who own 16.77% of the company.

Cintra was awarded the concession for the 407 ETR in 1999 for a period of 99 years. The freeway has a length of 108 kilometers long and circles the city of Toronto from east to west by the north.

Read more about Ferrovial’s Toll Roads

NEWSLETTER AND ALERTS

Configure newsletters and alerts.

Check your email address.

Newsletters and alerts

Thank you for subscribing!

We have just sent you an email to confirm your subscription.

DOWNLOAD OUR APP

The Ferrovial app provides instant access to all of the latest at Ferrovial; informative content, job offers and basic information for investors.