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Brisa says '09 capex seen 10 pct below target

Fri Nov 6, 2009 5:07am EST

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CASCAIS, Portugal, Nov 6 (Reuters) - Portugal's leading highway operator Brisa (BRI.LS) said on Friday that its capital expenditure in 2009 is set to fall 10 percent short of its previous target of 238 million euros ($353.4 million).

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In new guidance presented at its Investor Day, Brisa added that it expects operating costs to drop 6 percent from last year, beating the company's target of a 4 percent cut.

The company said it will end the year with an earnings before interest, tax, depreciation and amortization (EBITDA) margin of 72 percent, just above its goal of 70 percent.

Regarding traffic on its motorways, Brisa said it "will probably surpass" its target of matching 2008's traffic levels despite the economic downturn.

(Reporting by Patricia Vicente Rua, writing by Shrikesh Laxmidas)

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