The Group in detail

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The Group in detail

EcoRodovias is a business group operating in the Brazilian infrastructure and logistics sector, with a special focus on highway concessions. We form part of ‘Novo Mercado’ or ‘New Market’, coordinated by B3, and we are a publicly traded, private-sector company, with Primav and the Gavio Group operating as the controlling shareholders.

Our operations include the administration of tourist and overseas-commerce corridors in key-regions of Brazil, including the Port of Santos, the metropolitan regions of São Paulo, Rio de Janeiro and Curitiba, the Brazilian Central West - an important grain production and transportation region - and the Port of Paranaguá.

In 2020, we evolved with a portfolio that saw expansion based upon acquisitions made in previous years - Eco135 and Eco050 - and important investments in projects focused on the safety and flow of traffic. We closed the year with positive performance indicators, even considering the impact of the Covid-19 pandemic.

More than two decades of history and leadership in the sector

11 highway business units
1 corporate unit
1 logistics asset

3.892 km of highways administrated
352 million paying equivalent vehicles in 2020

R$ 331,9 million in net income - 14.3% more than 2019

Business model

Capitals accessed
  • Financing
  • Shareholder contributions
  • Generation of cash and revenue
  • Raw materials for highway infrastructure
  • Energy resources
  • Hydro-resources
  • Development of leaders and talents, with special focus on diversity and inclusion
  • Relations with neighboring communities
  • Dialog with regulators and the concession authority
  • Partnership and development of the supply chain
  • Assets associated with the concession agreements - more than 3,000 km of highways and one active port
  • Offices and a technology park
  • Generation of ideas through InovaECO
  • Innovations in payment methods, weighing of vehicles and operational control of highways
Work premises
  • Business planning anchored in social, environmental and governance aspects
  • Incorporation of targets and commitments to sustainability issues
  • Adhesion to international pacts and commitments
  • Connection of all activities and relations with the Company’s values
  • Promotion of the culture of ethics in all stages of the business, from contracting to investments
  • Main focus on concessions + increased efficiency in the port operations
  • Detailed study opportunities, with a focus on concession tenders and programs, guaranteeing the longevity of the concession portfolio
  • A balance of geographic presence, conditions and investment needs in the concession agreements
  • Generation of innovation and new levels of efficiency and quality in highway concessions services
  • Responsible and sustained growth of the business, with strong and experienced shareholders
  • Striving for efficiency gains and results in concessions
  • Management of Capex and expenses to be able to join quality with results
Sustainable results for the stakeholders
  • Economic and Financial Results consistent with the business’ potential
  • Longevity of the Group
  • Experience of concessions in the Brazilian market
  • Innovation in management of highway assets
  • Investments aligned with contractual conditions
  • Collaboration on the improvement of the country’s highway infrastructure
  • Technical qualification and opportunities for growth
  • An environment that is inclusive and open to diversity
  • Mobility in key regions of the country
  • Opportunities for the fast and efficient transportation of cargo
  • Safe, comfortable and smooth transportation
  • Encouragement of citizenship and employability
  • Environmental and professional education
  • Generation of employment, wealth and opportunities
  • Fair and integrated commercial relations
  • Development and improvement of local suppliers
Services to society
  • Highways with a high-standard of road safety
  • Pre-hospital treatment and breakdown services on the highways
  • Control of environmental impacts (spills, accidents, etc.), avoiding damage to the biodiversity, land and water sources
  • Real time monitoring of traffic conditions (weather, safety, flow)
  • Development of innovative technologies and methodologies to resolve infrastructure and mobility problems
  • Social projects that collaborate with local development
  • Engineering projects designed to resolve logistics bottlenecks in the regions of activity
  • Attention to those demands concerning the circulation of people and cargo at important points around the country
  • Enabling of the optimization of the logistics chain in key sectors (flow of grains, tourism, industry)
  • Operations capable of guaranteeing safety, flow and comfort for the users
  • Connectivity and practicality (mobile applications, payment solutions) for those using the highways
  • Port services that are smart, interconnected and customized to the users’ needs

Our values

Our vision

To be the best and most sustainable highway infrastructure management operation in Brazil.


To create value through the management of highway assets in a sustainable, synergetic, ethical and innovative manner.


Collaboration: Synergy and cooperation between people and teams in the development of solutions.

Ethics: Integrity, transparency and equity in relations and operations, being plural and diverse.

Focus on results: Excellence, planning, commitment, efficiency and a synergetic business model in pursuit of sustainable results.

Initiative: Leadership, innovation and creativity to drive differentiated results that add value.

Sustainability: A mindset oriented to long-term growth, environmental care and the development of employees and society.

and ESG vision

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Strategic Planning in six stages:

  • 1Design
  • 2Planning and objectives
  • 3Alignment
  • 4Operations and budgets
  • 5Monitoring and learning
  • 6Testing and adaptation

Our Management of risks and opportunities

- Analysis of our focus on growth and operational excellence
- Risk management policy and procedures
- Analysis of scenarios and bidding opportunities

In 2021 we are focused on four federal highway bidding rounds, including that for the BR-153/414/080 GO/TO concession in April, in which EcoRodovias was successful.

Tackling Covid-19: priorities

- We invest in actions for users, employees and the market
- We provide efficient communication on the impact of the pandemic on the movement of cargo and passenger vehicles
- We distribute safety and hygiene items at highway service areas
- We guarantee the protection of our staff through home office structures and the management of physical and mental wellbeing

  • 1,189 work kits prepared for employees who switched to the system of home office
  • 30,000 alcohol wipes for sanitizing work equipment
  • 170,000 kits including masks, gloves, soap and alcohol gel
  • 70,177 snack packages for truck drivers
  • 173 work environment decontamination actions performed at the units
  • 39 bus charter lines outfitted with notices and advice
  • 1,350 internal communications publications produced for administrative buildings

Our investments

Gráfico evolução do Capex Pró-forma

ESG materiality and governance

In 2020, we reviewed our list of material sustainability issues, involving steps for identification, consultation/prioritization, analysis and validation by the management. Forming an integral part of the Group’s strategy, our materiality was renewed with a basis in studies, interviews and sector trends, reflecting our current and future challenges in 12 topics, grouped into five ESG pillars. These are:

Ethics and compliance
Ethics, integrity and anti-corruption
Compliance with laws and regulations
Excellence and efficiency
Operational excellence
Environmental impacts and risks of projects and works
Climate change
A safe and healthy operation
Highway safety
User satisfaction
Health and safety of employees and third parties
New business
Economic and financial performance
Culture and development
Training of human capital

Targets connected with the SDGs

We have prioritized the Sustainable Development Goals (SDGs) that are most connected to the Group’s activities and defined priorities and indicators designed to measure our contribution. Read more about our performance in 2020 in the complete version of the Integrated Report

Value creation

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Six of the year’s highlights

O ano em 6 destaques

Longevity of the business

We closed 2020 with good results, despite the impacts of the measures designed to restrict circulation and ensure social distancing on the movement of light vehicles on highways. On the other hand, we saw a rise in the circulation of heavy-goods vehicles and included new units in our portfolio in the shape of Eco135 and Eco050. At Ecoporto, there was a rise in port operations but a drop in storage use.

In financial terms, we invested in the deployment of costs and efficiency, as well as the careful management of Capex and the operations of each concession, ensuring that we closed the year with a pro-forma net revenue that was 2.5% higher than that registered in 2019.

Heavy-goods vehicles

  • 14,6% growth comparing 2020 with 2019
  • 198,201,000 paying equivalent vehicles
  • Greater variations in the Ecopistas (-10.7%), Eco135¹ (33.1%) and Eco050² (78.9%) concession operators

Light vehicles

  • 11,4% drop comparing 2020 with 2019
  • 153,784,000 paying equivalent vehicles
  • Greater variations in the Ecocataratas (-19.4%), Eco135¹ (27.5%) and Eco050² (49.1%) concession operators
1.Data takes into consideration the charging of tolls as of 01-Apr-2019.
2.Data takes into consideration the charging of tolls as of 01-Jun-2019.

Performance summary

Financial Indicators (R$ million)
Pro-Forma Net Revenue¹
Pro-forma EBITDA²
Pro-Forma EBITDA Margin²
-1,5 p.p.
Net Income
Net Debt
Available Cash
Net Debt/Pro-Forma EBITDA LTM

Highway safety

The commitment to life is non-negotiable for the Company, which adopts the targets of the United Nations Organization’s Decade of Action for Road Safety, that ran from 2011 to 2020, whilst five of the Company’s units are certified with the ISO 39001 Road Traffic Safety norm. We closed the decade with significant results in the reduction of accidents, injuries and deaths on our highways.

Segurança Viária

People and communities

Our work over the course of the year was centered on tackling Covid-19 and on the protection of the lives of our employees and communities. We also worked extensively with the pillars of innovation, leadership, diversity, and health and safety, with a focus on developing and retaining the talents that are essential to the future of the Company.

Highlights of 2020:
- Actions for leaders: Trainee Program, Building the Future, Development of Leaders and Executives, and the Annual Leaders Seminar
- Training: more than 64,000 hours and R$ 1.38 million invested in training
- 100% of the team was involved in the performance cycle, with 178 professionals having planned succession potential
- R$ 2 million invested in innovation

In 2020, InovaECO received 125 proposals - more than the 111 received in 2019

Launch of the ‘Olivia’ chatbot, which provides cashier services at the Eco050 tollbooths and has been tested at the concessions in Paraná.
- Structuring of the ‘Path for Everyone’ program + Diversity and Inclusion Committees + start of the LGBTI+ Affinity and Race Groups
- Adhesion to the UN’s Free and Equal Pact, committed to fighting discrimination against the LGBTI+ community
- We saw a 17% reduction in the rate of work-related injuries. However, we did record four fatal accidents.

Social investment

R$ 8,618,635.66 in investment made by the Group via tax incentive laws, impacting
33,000 people in six states

Environmental excellence

We have integrated the environmental agenda into the Group’s strategy to raise themes such as the control of emission of greenhouse gases, the management of biodiversity, and energy efficiency. All of our well-established concessions hold certifications (ISO 9001, ISO 14001, etc.) for management and systems focused on environmental quality, safety and efficiency.

A 4,774.95 GJ reduction in electricity consumption

Intensity of emissions (tons/employee)*

2019 - 9.38
2020 - 6.01
* In 2020, there was an alteration in the premise for the calculation of this indicator. Emissions from the “changes in land use” category were included. The 2019 indicator was recalculated in order to guarantee compatibility.

Eco-efficiency projects during the year

  • Micro-generation of energy: installation of a 75kWp solar generator at km 92 of the SP-070 highway, allowing savings of up to R$ 78,000 per year.
  • Implementation of solar panel reinforcements for the callbox, thus guaranteeing availability and independence. The system is offgrid, meaning it is not connected to the concession operator’s network, and involved investments of R$ 35,400.00.
  • SAT traffic monitoring system: six units of equipment were installed with cameras powered by photovoltaic panels. The investment of almost R$ 454,000 will provide the unit with autonomy and economic return.
  • Implementation of cameras along duplicate stretches: the investment, established in the concession agreement, uses photovoltaic panels for better availability and energy safety.
  • Implementation of a photovoltaic generator: an investment of R$ 245,300 was injected into this technology which will allow estimated annual savings of R$ 53,000.00.

REDD projects that benefit biodiversity

In 2020, EcoRodovias offset one third of its emissions by means of the Reduction of Emissions by Deforestation and Damage (REDD) program in the state of Pará in the Amazon Region. With this initiative as a starting point, the Company decided to act jointly to tackle the climate challenge and the loss of biological biodiversity. By supporting a project in support of conservation of the Amazon rain forest, the focus is on guaranteeing that deforestation does not occur and avoiding the release of GHGs, preserving the habitat of different species of Brazilian fauna and flora, including those at risk of extinction, such as the giant otter and the black-bearded saki monkey. On top of this, the project also encourages a sustainable interaction with the riverside and quilombola communities in the region of the area of preservation.