News Releases
407 International Reports Third Quarter Results

TORONTO, Oct. 19, 2017 /CNW/ - 407 International Inc. (the "Company") announced today revenues of $348.7 million for the third quarter of 2017, compared to $321.3 million for the same period of 2016.  Earnings before interest, taxes, depreciation and amortization ("EBITDA"[1]) totalled $307.8 million for the third quarter of 2017 as compared with $284.9 million for same period of 2016.  The Company reported net income of $143.2 million for the third quarter of 2017 as compared with $115.9 million for same period of 2016.

The Board of Directors declared an eligible dividend of $0.277 per common share, payable on or about October 19, 2017, to shareholders of record on October 19, 2017.

The Company is owned by Cintra Global Holding Limited, 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.

Highlights
Unaudited

     

Three-month period
ended September 30

  

Nine-month period
ended September 30
     

2017

  

2016

  

2017

  

2016
                   
                   

Selected Financial Information (in millions)

              
 

Revenues

  

$

348.7

  

$

321.3

  

$

940.4

  

$

837.4
                   
 

Operating expenses

    

40.9

    

36.4

    

120.9

    

107.5
 

Depreciation and amortization

    

27.8

    

26.9

    

78.7

    

79.7
 

Interest and other expenses

    

85.7

    

100.4

    

257.3

    

275.8
 

Income before tax

    

194.3

    

157.6

    

483.5

    

374.4
 

Income tax expenses

  

51.1

    

41.7

    

128.3

    

99.5
 

Net income

  

$

143.2

  

$

115.9

  

$

355.2

  

$

274.9
                   
                   
                   
                   

Traffic

                
 

Total trips (in thousands)

    

33,495

    

33,535

    

93,612

    

92,813
 

Average revenue per trip

    

$10.33

    

$9.42

    

$9.92

  

$

8.93
 

Average workday number of trips

    

435,712

    

433,213

    

410,255

    

405,354
 

Total vehicle kilometres (in thousands)

  

755,750

    

753,864

    

2,019,700

    

1,966,126
 

Number of transponders in circulation

              
   

at September 30              

            

1,409,817

    

1,325,166
 

[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.
 

SOURCE 407 International Inc.

Investors: Geoffrey Liang, Chief Financial Officer, Tel: 905-265-4070; Media: Kevin Sack, Vice President Marketing, Communications and Government Relations, Tel: 905-264-5374