407 International Reports Third Quarter Results
TORONTO, Oct 18, 2018
407 International Inc. (the "Company") announced today revenues of $382.7 million for the third quarter of 2018, compared to $348.7 million for the same period of 2017. Earnings before interest, taxes, depreciation and amortization ("EBITDA"¹) totalled $338.1 million for the third quarter of 2018 compared with $307.8 million for the same period of 2017. The Company reported net income of $157.0 million for the third quarter of 2018, compared with net income of $143.2 million for same period of 2017.
The Board of Directors declared an eligible dividend of $0.302 per common share, payable on or about October 18, 2018 to shareholders of record on October 18, 2018.
The Board of Directors has appointed, effective September 24th, Mr. Derek Bitar as Acting Chief Financial Officer on an interim basis due to a personal leave of the current Chief Financial Officer, Mr. Geoffrey Liang. 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 SNCLavalin (16.77%).
For more information, contact:
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. EBITDA less depreciation and amortization, interest and other expenses and income tax expenses, results in net income.