ACS cuts dividend by 6% through June after Cobra sale | Economie

ACS cut its net profit by 6% in the first half of the year, from 351 million euros it recorded in 2021 to 330 million this year. Without considering the 2021 contribution of 215 million euros from The sale of the industrial services activity (Cobra) last December to Vinci, In addition to the negative impact of 94 million due to changes in the value of financial instruments associated with ACS shares, the growth in the net profit of the group will reach 43.7%. Sales were 15,415 million euros, up 15.6%, with total operating output (Ebitda) up 10.7%: 816 million.

According to business areas, Abertis contributed 52 million euros to net profit, double what it was a year ago thanks to a rebound in traffic, And the concessionaire Iridium is another 27 million. The construction sector grew by 8% to 170 million profit, and services another 13% to 16 million. Added to all this is a final contribution of €65 million from the sale of renewable energy assets, primarily 25% of PV plants in Spain are sold to Galp.

The portfolio is currently worth €69,397 million, up 15.7%, and is concentrated mainly in North America (53%), Asia Pacific (28%) and, to a lesser extent, Spain (8%). and the rest of Europe. (9%) and South America (2%). The group has a net cash position of €1,044 million, which contrasts with a net debt of €2,976 million twelve months ago, which was set by Sale of industrial services for 4902 million euros and the The recent acquisition of its subsidiary Cimic in Australia for €985 million was offered in May 2022.

Total remuneration to shareholders in the past twelve months totaled €1.075 million, including purchase of treasury shares and dividends, in both ACS and minority stakes in Hochtief and Cimic. The ACS Board of Directors on Thursday approved an interim dividend of five euro cents per share, which represents a total dividend of 14.4 million euros to meet August 4, 2022.

Ferrovial

For its part, Ferrovial had a net profit of 50 million euros in the first half of the year, compared to losses of 184 million euros recorded in the same period in 2021, thanks to the gradual recovery of traffic on roads, airports and construction. contribution. Total operating output (ebitda) was €306 million in the first half of the year, up 11.3% from €263 million in the previous year. Sales increased 6.2% to 3,465 million euros, the company reported to the National Securities Market Committee (CNMV) on Thursday.

Highway revenue improved by 31.1% to €355 million, thanks to the strong growth of US roads (76.8% of the total), which posted significant increases in traffic and sales. Ebitda stock rose 34.7% in comparison to €255 million.

At airports, sales at London Heathrow have tripled to £1,280 million. The source explained that traffic doubled six in the case of Heathrow to 26.1 million passengers between January and June. AGS airports also recorded a significant growth in revenue, reaching 196.8%, after its traffic grew by 438.6%, highlighting the positive performance of Glasgow, which doubled the number of passengers by nine.

The construction area saw a 4.1% increase in sales in the first half, supported by its Polish subsidiary Bodymix. 83% of business sales correspond to international activity. Operating income decreased from 72 million records a year ago to 26 million due to the impact of inflation on supply and subcontractor prices, partially offset by the application of the price review formula and Budimex’s positive development. The portfolio amounted to 12,043 million euros, 4.1% lower than last year, and 42% compared to the United States and Canada; 23% to Poland and 15% to Spain.

Ferrovial continues to make progress in divesting its entire services business, and despite consolidating the division as a discontinued business, for information purposes, had revenue of €1,406 million, while EBITDA was 78 million, the company said. The portfolio of services amounted to 7,921 million euros, representing a decrease of 3.9% compared to the same period last year.

Ferrovial confirmed that it “enjoys a strong financial position, and continues to focus on protecting and enhancing liquidity” of 5,937 million euros. While net cash in infrastructure projects amounted to 1,521 million, down 30.3% from last year, including discontinued operations. Consolidated net debt, including discontinued activities, increased 25.4% to 5,583 million.

OHLA

OHLA, a major contractor, had a negative net result of €60.7 million in the first half of 2022, compared to a profit of €75 million in the same period last year, mainly due to deteriorating value. of its participation in the Canalejas Center in Madrid, resulting in an adjustment of 34.5 million. However, sales were 1,452 million, up 10.7% from last year, and Ebitda’s sales were up 34%, to 40.7 million.

70.6% of the turnover was generated offshore and the construction division finished the period with a margin of 4.1% compared to 3.5% in the first half of 2021. Between January and June, OHLA’s short-term contracts totaled €2,436.3 million, 32% higher than the same period from 2021. US accounts for 44.2%; Europe 37.5% and Latin America 17.9% of this figure. The total portfolio as of June 30 increased by 22% to €7,082 million, representing activity coverage of approximately 27.3 months of sales.

The company closed the first semester with a total liquidity position of 616.9 million, an improvement of 29.2 million euros from last March. During this period, it canceled the ICO loan of 54.5 million euros and carried out a partial repurchase of bonds in the token amount of 43.1 million euros, which contributed to achieving the goal of gradually reducing its leverage.

In the concession area, the company is progressing in its goal of being awarded two projects of this type, after winning the concession for the Acceso Norte 2 road project in Bogota, as well as recently qualifying for a new hospital project in Chile.