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Consolidated Adjusted Net Revenue came to R$359.8 million (-3.2%) and Adjusted EBITDA totaled R$216.7 million in the quarter (-4.9%), mainly due to the reduction in construction margin on contractual amendments for highways. Excluding the effect of margin in contractual amendments of highways from the consolidated result, Adjusted Net Revenue and Adjusted EBITDA would increase 6.1% and 10.8% in the quarter, respectively.


Port Segment: Portonave reported Adjusted EBITDA of R$42.0 million (+45.7%) in 3Q16 and Net Income of R$11.3 million, as against R$4.7 million in 3Q15. In August 2016, Portonave set a record in container handling. The renewal and maintenance of terminal lines for one more year underscore Portonave's differentials of productivity and quality service.


Toll Roads Segment: Gross toll revenue grew 7.7% in the quarter and 38.2% in the year, mainly due to the toll adjustments with gains, among other factors, the recovery of losses due to the exemption of tolls on raised axles in the period and, as an effect of the accrued result, the start of toll collection at Concebra. The segment’s results were affected by the reduction in construction margin in contractual amendments of highways: excluding this effect, the segment's Adjusted Net Revenue and Adjusted EBITDA grew 11.0% and 20.6%, respectively, in 3Q16. 


Airport Segment: Commercial revenue in 3Q16 grew 47.6%, driven by the increase in revenue from services and parking lot due to the transfer of all flights to the new passenger terminal in April 2016, a modern terminal that houses 70 shared check-in and 56 self-service totems, with the capacity to serve 25 million passengers.


Energy Segment: The segment’s gross revenue came to R$16.6 million in 3Q16 and R$46.9 million in 9M16.