407ETR traffic volumes out for June 2022: 217,963,726 veh-kmhttps://407etr.com/en/highway/corporate/usage-statistics.html
217,963,726 veh-km or
close to 88% of 2019 levels of 248,883,840 veh-km.
336.1M revenue and
EBITDA: 294.3M in Q2 2022. Also dividend announcement of 25.8 cents per share. https://407etr.com/en/highway/news/news-release/2022/news-release2022-07-14.
TORONTO, July 14, 2022 - 407 International Inc. (the “Company”) announced today revenues of $336.1 million for the second quarter of 2022, compared to $212.2 million for the same period of 2021. The Company reported a net income of $110.1 million for the second quarter of 2022, compared to a net income of $24.7 million for the same period of 2021. Earnings before interest and other expenses, taxes, depreciation and amortization ("EBITDA"1) totalled $294.3 million for the second quarter of 2022 compared to $179.4 million for the same period of 2021. The Board of Directors declared an eligible dividend of $0.258 per common share payable on or about July 14, 2022 to shareholders of record on July 14, 2022.
As a result of the Province of Ontario removing all COVID-19-related restrictions, traffic volumes during the second quarter of 2022 were higher by approximately 48% as compared to the same period in 2021. The Company maintains sufficient liquidity and expects to be able to satisfy all of its obligations in 2022.