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Consolidated adjusted net revenue totaled R$409.1 million (+34.5%) and R$1.2 billion (+21.6%) in 3Q15 and 9M15, respectively. Adjusted EBITDA totaled R$229.5 million (+18.8%) in 3Q15 and R$802 million in 9M15.


Toll Roads Segment: growth of 48.8% in adjusted net revenue, mainly due to strong growth in gross toll revenue, which reached R$267.1 million (+85.8%) in 3Q15, due to the beginning of toll collection at 11 toll plazas by Triunfo Concebra at the end of June 2015, the acquisition of Triunfo Transbrasiliana and toll increases with real gains in the period. Note that the decline in traffic during the period was impacted by the Truck Driver's Law, which is being compensated in the financial performance of toll roads through toll increases which, consequently, eliminate the loss of revenue with the reduction of paying axles. 


Airport Segment: Viracopos handled 32,000 aircraft, which transported 2.6 million passengers (+3.7%) in 3Q15. The healthy growth in passenger traffic was mainly due to the higher number of international flights. Moreover, Viracopos implemented a series of initiatives to increase the volume of value-added cargo. As a result of these initiatives, adjusted net revenue grew 16.9% in 3Q15 compared to the same period the previous year. 


Port segment: despite the decrease in volume, mainly due to economic slowdown and closure of the port area due to rains that affected the region, Portonave reported net income R$4.7 million, up 127.6% from 3Q14, due to the cost reduction in the segment.


Energy Segment: the highlight of the quarter was TPI’s announcement of the sale of Triunfo Rio Verde, Triunfo Rio Canoas and TNE. The sale had already been approved by the Brazilian antitrust authority CADE and the electricity regulatory agency ANEEL and is pending approval from creditors for completion.