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| Cintra obtained 205 million euro in EBITDA in 1H 2009 Cintra, the Spanish builder Ferrovial subsidiary specialised in bidding for and managing toll roads, obtained 301.6 million euro in revenues in the first half of 2009 (-1.9%). The decline was due mainly to falling traffic and also to the fact that 2008 had an extra day because it was a leap year. EBITDA amounted to 205.4 million euro, a 7% decline with respect to the same period of 2008, due basically to an extraordinary provision at Autema and to exchange rate fluctuations. Excluding those factors, EBITDA would have declined by 0.4%. International activities now account for 90% of Cintra's consolidated EBITDA. EBIT amounted to 153.8 million euro, and net attributable profit to 20.9 million euro, contrasting with 51 million euro in losses reported in 1H08. The company has pre-funded the debt maturing this year at 407 ETR in Canada and extended funding for the Radial 4 toll road. As a result of these two transactions, Cintra has refinanced all of the debt maturing in 2009. write your comments about the article :: © 2009 Construction News :: home page |