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Consolidated Adjusted Net Revenue came to R$346.2 million and Adjusted EBITDA totaled R$198.5 million, up 24.6% and 23.3%, respectively, from the 2Q15 pro forma result, mainly due to the increase in revenue from toll roads with the beginning of toll collection at Concebra’s 11 toll plazas at the end of June 2015.


Toll Roads Segment: Toll revenue growth of 61.9% in the quarter and 60.8% in the first half of the year mainly due to the beginning of toll collection at Concebra, Brazil's largest toll road concession spanning 11,765 kilometers. Excluding the Concebra effect, comparable toll revenue grew 13.7% in 2Q16 and 14.4% in 6M16, due to toll increases that, among other factors, neutralized losses from the exemption of tolls on raised axles in the period.


Port Segment: Portonave reported Adjusted EBITDA of R$28.7 million (+12.8%) in 2Q16 and R$62.8 million (+10.4.%) in 6M16, mainly due to the beginning of operations of five new long-haul lines in July 2015, which have already handled around 290,000 TEUs (36% of the total).


Airport Segment: Commercial revenue grew 46.5% and 29.9% in 2Q16 and 6M16, respectively, driven by the transfer of all domestic flights to the New Passenger Terminal (T1) in April 2016. It is a modern terminal that houses more than 70 shared check-in counters and 56 self-service totems, with the capacity to serve 25 million passengers.


Energy Segment: Tijoá recorded gross revenue of R$14.4 million (+10.8%) in 2Q16 and R$30.3 million (+15.3%) in 6M16, mainly due to the impact of inflation (as measured by the IPCA index) since June 2015.