Economic performance

2015 was characterised by sustained economic growth, reaching positive results in the main performance indicators.

+ 7.0 % ADT* at Brisa Concessão Rodoviária
+ 6.8 % Total operation revenues
+ 7.77 % Toll revenues
+ 9.3 % Cash flow generation
+ 3.16 % Net financial debt
+ 12.4 % ADT at Northwest Parkway
* ADT – Average Daily Traffic

In 2015, keeping a focus on economic sturdiness and stability, Brisa confirmed the positive indicators of improvement that had already been verified in 2014.
The most decisive factors for this success were the optimisation of operational costs and a continuous effort to achieve better efficiency.

Traffic Variations

2015 saw a sustained increase of traffic in Brisa's concessions, which was mainly due to two factors:

  • Macroeconomic recovery in Portugal;
  • Absence of changes in the network;

All Brisa highways showed traffic growth, particularly those that accumulate professional and seasonal roles, such as A2, A6, A10 and A13. As a consequence, Brisa's operational revenue growth increased 6.8% compared to 2014, reaching 614.8 million euros.

This increase was due exclusively to traffic increase, since no changes were made to toll tariffs.
 


Ratings

After traffic growth and debt reduction, financial ratios improved, reaching levels compatible with an investment grade rating.
Agency Rating  Outlook
Moody's  Baa3  Stable Outlook
Fitch Ratings  BBB  Stable Outlook