Toll: CCR tariff will increase by R$ 0.10 from July – 06/29/2023 – Market

The CCR concessionaire communicated this Thursday (29) that the toll tariffs on the highways in São Paulo that it manages will increase by R$ 0.10 from July 1st, according to authorization granted by Artesp (Regulatory Agency for Delegated Public Services of Transport of the State of São Paulo).

The new readjustment will apply to AutoBan, SPVias and RodoAnel Oeste. According to the concessionaire, the measure aims to reduce the company’s losses because of the coronavirus pandemic.

In a statement to the CVM (Securities and Exchange Commission), the company says that this is “a precautionary measure to mitigate the imbalance resulting from the losses incurred from the effects of the Covid-19 pandemic on the demand of the concessionaires”.

Renovias, the concessionaire in which the CCR Group holds a stake, will have a 3.935829% readjustment, based on the IPCA (Extended National Consumer Price Index), as a measure to adjust contract imbalances, the company said in the same document. .

On Wednesday (28), CCR announced that ViaOeste signed an amendment to the contract with the Government of the State of São Paulo, extending the concession period for the Castello Branco-Raposo Tavares Highway system by 410 days, until March 29, 2025.

The addition of the contract will make it possible to carry out new investments in the concession section. In all, R$ 294 million should be invested, in addition to achieving a rebalancing of R$ 193 million for CCR.

The contract also provides for the transfer of 20.71% of the tariff revenue to an account linked to the state, according to the document sent to the CVM.

“We see the news as positive for CCR”, stated the Safra analysts led by Luiz Peçanha, adding that the amendment to the ViaOeste contract and the increase in the tariff will add approximately R$0.21 to CCR’s share price by the end of 2023. The current value is BRL 14.10.

Safra has been recommending CCR’s papers.