407 International Reports First Quarter Results
TORONTO, April 21, 2006
407 International Inc. announced today a loss of $11.0 million for the first quarter of 2006 compared with a $13.1 million loss for the first quarter of 2005. Earnings before interest, taxes, depreciation and amortization (“EBITDA” ) totalled $73.3 million compared with $61.8 million in the corresponding period of 2005. Revenues grew to $98.8 million in the first quarter of 2006, compared to $88.4 million in the first quarter of 2005. Total vehicle kilometres travelled increased to nearly 462 million during the first quarter of 2006; a 4.5 per cent increase over the same period last year. The Board of Directors declared a dividend of $0.031 per common share payable on or about May 8, 2006, to shareholders of record on May 8, 2006. The Board of Directors also declared a special dividend of $0.065 per common share payable on or about May 8, 2006, to shareholders of record on May 8, 2006.
407 International Inc. is the sole shareholder, operator and manager of 407 ETR, which extends 108 kilometres east-west, just north of Toronto. 407 International Inc. is owned by a consortium comprised of Cintra Concesiones de Infraestructuras de Transporte, Macquarie Infrastructure Group and SNC-Lavalin.
For more information, contact:
Kenneth A. Walker
Chief Financial Officer
Dale A. Albers
Manager, Public Relations