Overview
- Sector transport
- Vehicle Managed Account
- Investment Year 2007
- Status Invested
- Country Portugal
Key Metrics
- GRESB 2023 3rdout of 7 Europe Motorway Networks
- Employees c.2,867
- % managed 83.27%
- Motorways 21
- Total Network Length c.1,557km
Market
- Portuguese economy continues to show strong expansionary trend, leading to robust traffic growth
- Portugal’s road quality is ranked #9 globally2, as a relatively under-developed public transport system favours car usage
- Relatively low car ownership for EU standards provides for further growth potential in the long term3
Asset
- Core infrastructure asset providing the backbone of Portugal’s road network connecting the main urban centres, the transport links to Spain as well as the tourist destinations in the south
- High EBITDA margins with strong free cash flow generation
- Stable and favourable regulatory framework with toll tariffs increasing annually by inflation (upward only)
- Leader in electronic tolling and payments platform rollout
- Select investments in strategic growth areas such as mobility services, car sharing platforms and toll road technology services
- Market leader in vehicle inspections
- In July 2015, Brisa sold 30% of BCR, Brisa’s main concession
- In March 2017, Brisa sold 100% of NWP, a Colorado ring road concession
2 World Economic Forum GCI 2016
3 428 cars per 1,000 inhabitants vs EU average of 498, ACEA Statistics 2014