ACS Gains €702 Million & Trims Debt by 14% in 2013

28/02/2014 – Expansion

ACS rediscovered the path of profits after having stopped the investment flow in Iberdola last year. The construction company gained €702 million in contrast to €1.928 million loss in 2012. Vast part of the income stems from international activity that added 86.3% to overall revenues of the company and from gains received for Iberdola´s product valuation.

The firm chaired by Florentino Pérez has not escaped unscathed when the electrical power reform hit. ACS preliminarily calculated the  cost to be borne over its wind and solar energy plants and established it at €199 million. The company´s profit fell by 0.3% and settled down on €580 million.

Hochtief, ACS´s German branch, contributed with €91 million. (…).

ACS´s turnover decreased by 0.1% to €38.373 million, while Ebidta was set at €3.002 million, 2.8% less than a year before. Spain constitutes 14% of all sales.

At the end of 2013, the company´s net indebtness was equal to €4.235  million (14.5% less than in 2012). (…). Throughout 2013, ACS issued bonds for €1.100 million.

Considering each business area separately, the construction division reduced its revenues by 0.4% and earned €29.559 million. International activity compensated the 23% domestic losses. Out of the €47.563 million portfolio of ACS, 93% of it is found abroad. (…).

In turn, the industrial area contributed with €7.067 million, while the environment advanced by 5.3% and generated €1.781 million. (…) The company was worth €26.6 per share yesterday (-0.6%).

 

Original article: Expansión (C. Morán)

Translation: AURA REE

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