407 International Reports 2018 Results

TORONTO, Feb. 7, 2019 /CNW/ - 407 International Inc. (the "Company") announced today revenues of $1,390.3 million for the year ended December 31, 2018, compared to $1,267.7 million for 2017.  Earnings before interest, taxes, depreciation and amortization ("EBITDA"¹) totalled $ 1,210.6 million for 2018 as compared with $1,103.8 million for 2017.  The Company reported net income of $539.0 million for 2018, compared with net income of $470.1 million for 2017.

The Board of Directors declared an eligible dividend of $0.323 per common share, payable on or about February 7, 2019 to shareholders of record on February 7, 2019.

The Company is owned by Cintra Global S.E., a wholly owned subsidiary of Ferrovial S. A. (43.23%), by indirectly owned subsidiaries of Canada Pension Plan Investment Board (total 40%), and by SNC-Lavalin (16.77%).

News releases are available at www.407etr.com.

______________________

¹ EBITDA is not a recognized measure under International Financial Reporting Standards and investors are cautioned that EBITDA should not be construed as an alternative to net income or cash from operating activities as an indicator of the Company's performance or cash flows. The Company's method of calculating EBITDA may differ from other companies' methods, and may not be comparable to measures used by other companies.

Highlights
Unaudited

			Three-month period						Year
			ended December 31						ended December 31
			2018			2017			2018			2017
Selected Financial Information (in millions)
	Revenues		$	356.6		$	327.3		$	1,390.3		$	1,267.7
	Operating expenses		54.0			43.0			179.7			163.9
	Depreciation and amortization		27.0			27.1			107.3			105.8
	Interest and other expenses		63.6			101.1			370.3			358.4
	Income before tax		212.0			156.1			733.0			639.6
	Income tax expenses		56.1			41.2			194.0			169.5
	Net income		$	155.9		$	114.9		$	539.0		$	470.1
Traffic
	Total trips (in thousands)		32,100			32,126			126,625			125,738
	Average revenue per trip		$10.86			$10.06			$10.86			$9.96
	Average workday number of trips		417,565			422,860			415,429			413,381
	Total vehicle kilometres (in thousands)		691,789			688,887			2,747,482			2,708,588
	Number of transponders in circulation
	at December 31								1,525,396			1,434,485

SOURCE 407 International Inc.

Investors: Geoffrey Liang, Chief Financial Officer, Tel: [phone]; Media: Kevin Sack, Vice President, Marketing, Communications, and Government Relations, Tel: [phone]