407 International Reports Second Quarter Results
Toronto, July 19, 2006
407 International Inc. announced today income from operations of $77.6 million for the second quarter of 2006, up 10.7 per cent from the second quarter of 2005. Earnings before interest, taxes, depreciation and amortization (“EBITDA”1)totalled $92.4 million compared with $84.1 million in the corresponding period of 2005. Revenues grew 8.5 per cent to $117.4 million in the second quarter of 2006, compared to $108.2 million in the second quarter of 2005. Net income for the second quarter decreased to $10.8 million from $17.0 million for the same period last year after accounting for a $13.6 million non-cash increase in the inflation component of its inflation-linked bonds. The Board of Directors declared a dividend of $0.031 per common share payable on or about July 19, 2006, to shareholders of record on July 19, 2006.
407 International Inc. is the sole shareholder, operator and manager of 407 ETR, 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.
For more information, contact:
Kenneth A. Walker
Chief Financial Officer
Dale A. Albers
Manager, Public Relations