The Board of Directors declared an eligible dividend of
407 International Inc. is owned by a consortium comprised of Cintra Infraestructuras, Intoll and SNC-Lavalin Inc.
News releases are available at www.407etr.com.
------------------------------ (1) EBITDA is not a recognized measure under Canadian generally accepted accounting principles 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' and may not be comparable to measures used by other companies. EBITDA less Depreciation and amortization, Interest and other expenses, net and Income tax, results in Net income. Highlights Unaudited Three month period ended Year ended December 31 December 31 ----------------------- ----------------------- 2009 2008 2009 2008 ----------- ----------- ----------- ----------- Selected Financial Information (in millions) Revenues $ 141.6 133.5 $ 560.0 $ 546.5 ----------- ----------- ----------- ----------- Operating expenses 34.8 52.1 116.0 132.1 Depreciation and amortization 14.3 18.4 61.4 72.0 ----------- ----------- ----------- ----------- 49.1 70.5 177.4 204.1 ----------- ----------- ----------- ----------- Income from operations 92.5 63.0 382.6 342.4 Interest and other expenses, net 85.8 17.5 339.8 257.3 ----------- ----------- ----------- ----------- Income before income taxes 6.7 45.5 42.8 85.1 Income tax recovery - Current - (0.5) - (0.5) Income tax recovery - Future (22.6) (33.5) (15.4) (33.5) ----------- ----------- ----------- ----------- Net income $ 29.3 79.5 $ 58.2 $ 119.1 ----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- Traffic Total trips (in thousands) 28,372 28,536 110,764 113,776 Average revenue per trip $4.99 $4.68 $5.06 $4.80 Average workday number of trips 373,079 377,014 367,295 377,922 Total vehicle kilometres (in thousands) 566,753 560,395 2,214,775 2,252,719 Number of transponders in circulation at December 31 985,701 920,200 985,701 920,200
For further information: Investors: Kenneth A. Walker, Chief Financial Officer, Tel: (905) 265-4070; Media: Steve Spencer, Director, Communications, Tel: (905) 264-5232