Message from the CEO

Financial year 2016 was marked by Group investment of more than R$ 4.028 billion, a new record. Our performance in delivery was equally strong: we completed Terminal 2 of Belo Horizonte International Airport and Line 2 of the subway system in Bahia; and we started operation of the ViaRio freeway and the Carioca Light Rail System. ViaQuatro – or São Paulo Subway Line Four – celebrated 10 years of operation with the incorporation of innovative technology.

We made significant corporate investments that have driven operational efficiencies. We also completed the sale of our electronic tolling business (STP).

These deliveries are a testament to our resilience in an adverse business environment characterized by political instability and an economic crisis, with high interest rates and greater restrictions on credit availability. Stringent financial discipline combined with a continuing drive to cut costs ensured that we ended 2016 with positive results.

We have maintained our strategy of securing new concessions while seeking diversification through new business development and internationalization. In 2016, we took another step in expanding our operations in the US with the creation of CCR USA Airport Management

We believe the toll-road business will remain the highest-weighted over the next six or seven years in both revenues and profits. This is reflected in the more structured approach we have taken with a focus on opportunities to diversify risks and access new sources of financing.

Sustainability remains a Groupwide endeavor. It is embedded in our strategic planning as a competitive advantage to protect and create business value in a way that benefits communities, government and investors. Further strengthening our commitment to sustainability, we subscribe to the Global Compact and the Sustainable Development Goals (SDGs), which have helped make our efforts more tangible. Instituto CCR (CCR Institute), which manages each of our social and environmental programs, projects and initiatives, gained further maturity and transparency during the year.

This was only possible thanks to the valuable efforts of our team of employees, in whom we invest in initiatives aimed at professional growth and quality of life.

We believe that our governance, financial discipline and strategy will continue to lead CCR Group through new challenges.

Renato Vale
Chief Executive

+
R$ 4,028 billion
in investment