407 International Reports 2007 Results
TORONTO, January 31, 2008
407 International Inc. announced today revenues of $518.9 million for the year ended December 31, 2007, compared to $455.7 million in 2006. Earnings before interest, taxes, depreciation and amortization ("EBITDA") totalled $407.6 million for 2007 compared to $352.7 million for 2006. Net income for 2007 increased to $60.3 million compared to $48.5 million in 2006.
"The Company accomplished two significant milestones in 2007," said Antonio de Santiago, President and Chief Executive Officer of 407 ETR. "We opened another 49 kilometres of new lanes, completing the addition of over 100 lane kilometres in the past two years improving highway capacity and reducing traffic congestion, and we launched 407 ETR Rewards to our most valued customers." 407 ETR Rewards will extend benefits of at least $40 million over four years to approximately 100,000 light vehicle customers by way of a multi-tier frequent user program.
The Board of Directors declared an eligible dividend of $0.044 per common share payable on or about January 31, 2008, to shareholders of record on January 31, 2008.
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.
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For more information, contact:
Kenneth A. Walker
Chief Financial Officer
Dale A. Albers
Manager, Public Relations