407 International owners of the 407ETR concession in Toronto have reported their first annual profit - $41m - for calendar 2006.

Results in US$s (@C$1=85c):

- revenues $387m

- operating expenses $88m

- depreciation & amort $53m

- operating income $247m

- net interest expenses $206m

- net income $41m

Toll $s up 8.4%

Toll revenues rose $31m or 8.4% 2006/2005 while operating expenses were slightly reduced as compared to 2005. However depreciation and amortization charges were hiked 13%. Interest expenses declined by $35m or 15%.

The road has longterm debt of $3.05b.

The tollroad paid dividends of $123m to shareholders in 2006.

Getting up into big league in N America

By toll revenue 407ETR at $387m is getting up there with the largest in North America compared to 2005 numbers for:

- New Jersey Turnpike (2 TRs) $712m

- Illinois Tollway (4 TRs) $580m

- Pennsylvania Turnpike (1 main) $571m

- New York State Thruway (1) $511m

TOLLROADSnews 2007-03-5