by Brisa traffic returns to 2019 levels. BCR earns 220 million
Traffic on the Brisa Concession Rodoviária network increased by more than 15% last year compared to 2021 and toll revenue increased by 16.5%. The company’s investment increased by 39%, affected by inflation in the cost of operations.
Traffic at Brisa Concession Rodoviária (BCR), which manages the main concession of the group led by António Pires de Lima, reached levels identical to those recorded before the pandemic in 2022. Compared to 2021, the increase of traffic was 15.1%, which led to a 16.5% increase in toll revenue.
In a statement to CMVM, BCR said the net result was 220.2 million euros, also above the 183.2 million euros recorded in 2021.
“The year 2022 was marked by the lifting of restrictions on the movement of people and goods, imposed as a result of the Covid-19 pandemic,” the company says, adding that “the year was also marked by Russia’s invasion of Ukraine. and the consequent instability created in the global economy, with negative effects on the energy market and the distribution chain of goods and services, causing a general increase in prices with a particular emphasis on fuel, energy and raw materials”.
In this context, he adds that the average daily traffic (ADT) in 2022 was 21,359 vehicles/day, i.e. reaching levels identical to those recorded before the pandemic (21,373 vehicles/day). Compared to the previous year, traffic increased by 15.1%, “affected by the low traffic volume recorded at the beginning of 2021 as a result of the various mobility restrictions in place at the time”, it justifies.
“Throughout the second half of 2022, there were traffic tensions above 2019, with an emphasis on the summer months. The variation in organic traffic was 14.2%,” he adds.
All highways in the concession recorded increases in demand compared to 2021, he points out, noting that the increase in TMD recorded in light vehicles was 15.7% and in heavy vehicles 8.2%.
Investments (CAPEX) in the concessions network amounted to 64.2 million euros at the end of the year, 39.2% more than the corresponding period last year, explaining to BCR that “the increase in investments reflects, on the one hand, the strengthening of investments in maintenance and improvement of infrastructure and on the other hand the effect of inflation on the cost of projects”.
In 2022, operating revenues reached 671.4 million euros, 16.1% more than the corresponding period last year, with toll revenues reaching 639.8 million euros (16.5% more). In turn, revenues related to service sectors were 25 million (6.2% more).
Operating expenses amounted to 139.6 million in 2022, an increase of 6.2% compared to the corresponding period of the previous year.
EBITDA was 531.8 million euros, representing an increase of 19%.
As of December 2022, BCR’s gross debt was €1,587 million (nominal outlook), the company also says, adding that the ratings assigned are A- (stable outlook) by Fitch Ratings and Baa1 (stable outlook) by Moody’s is “above Portugal’s sovereign rating, having remained unchanged during the year”.
