News Releases
407 International Reports Third Quarter Financial Results
TORONTO, October 27, 2005
407 International Inc. announced today revenues of $119.1 million for the third quarter of 2005 compared with revenues of $107.8 million for the same period of 2004. Traffic increased by 3.7 % to 27 million trips during the third quarter compared with the third quarter of 2004. Earnings before interest, taxes, depreciation and amortization (“EBITDA” ) totalled $92.4 million compared with $80.6 million in the corresponding period of 2004. Net loss for the nine months ended September 30, 2005 was $24.3 million after giving effect to a third quarter net loss of $28.2 million compared with a net loss of $48.0 million in the same nine month period of 2004. Non-cash interest expense relating to inflation-linked long-term debt in the third quarter of 2005 was higher than in the third quarter of 2004 by $40.8 million. The Board of Directors declared a dividend of approximately $0.027 per common share payable on or about October 27, 2005, to shareholders of record on October 27, 2005.
407 International Inc. is the sole shareholder of 407 ETR, the operator and manager of Highway 407, 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.
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For more information, contact:
Investors:
Kenneth A. Walker
Chief Financial Officer
Tel: 905-265-4070
Media:
Dale A. Albers
Manager, Public Relations
Tel: 905-264-5221
Download PDF version of this news release, including selected financial and traffic charts.
