Main Consolidated Financial Indicators

Brisa considers operational efficiency and economic performance the pillars of its management.

Results 2020

The year of 2020 was characterised by macroeconomic circumstances that were influenced by the COVID19 pandemic, which had a negative impact on Brisa’s entire operating activity. Traffic on Brisa Concessão Rodoviária, S.A.(BCR) network fell by 25.2%, inverting the cycle growth that had been observed in previous years.

In view of the adversities generated by this pandemic crisis, which gave rise to successive State of Emergency decrees and numerous measures and restrictions imposed by the Portuguese Government on the movement of people and free exercise of economic activities, Brisa sought to remain faithful to its strategic drive, focused on the efficient management of the road infrastructure concessions, on mobility services and technology, on the client and on business sustainability, upholding its operating resilience.

In this context, Brisa's consolidated Operating Income fell by €157.1m (-20.1%), to €624.1m, severely affected by the decreased of the traffic. The other business segments, as well as those associated with the road infrastructure, were also strongly affected by the COVID-19 pandemic. Net income, pressured by the drop in toll revenues, decreased in relation to 2019 (-17.1%), to stand at €126.0m.


The continuous improvement of the services provided, ensuring the maintenance of the high level of safety and comfort for those travelling on its motorways is a constant concern for Brisa. The total investment made in the BCR network amounted to €47m, with €16.5m having been invested to ensure ongoing innovation and adaptation to the new challenges emerging in the areas of mobility and technology.


Financial Indicators

Main Consolidated Financial Indicators (€M)
 2018 2019 2020
Operational Income  746.5  781.3 624,1
Toll Revenues  592.4  622.7 475,3
EBITDA 1  553.7  577.1 434,2
EBITDA Margin 1  74.2% 73.9%  69,6%
EBIT 2  362.8 315.1  262,8
EBIT Margin 2 48.6% 40.3%  42,1%
Net Financial Debt 3  1 739.8 1 685.4  1 525,8
Net Financial Debt 3 / EBITDA 1  3.1x 2.9x  3,5x
Net Profit      158.0 152.0  126,0


(1) Earnings Before Interest, Taxes and Depreciations and Amortizations

(2) Earnings Before Interest and Taxes

(3) Nominal Debt net of cash and cash equivalents