ACS Actividades de Construccion y Servicios SA (OTCPK:ACSAY)
$ 8.44 -0.155 (-1.8%) Market Cap: 10.39 Bil Enterprise Value: 13.53 Bil PE Ratio: 26.04 PB Ratio: 1.94 GF Score: 81/100
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Q1 2019 ACS Actividades de Construccion y Servicios SA Earnings Call Transcript

May 16, 2019 / 10:00AM GMT
Release Date Price: $5.87 (-0.11%)
Unidentified Company Representative

Good morning, everyone, and thank you for joining us for the ACS first-quarter 2019 conference call. I am here with Ãngel García Altozano, Corporate General Manager, and the rest of the team. We will briefly analyze the key aspects of our results and we then look forward to take any questions you may have.

Key figures, ACS has achieved a strong performance during the first quarter of 2019. At operating level sales growth by 6.8%, 4% in FX terms, up to EUR9.3 billion. EBITDA increased by 10.9% to EUR761 million and EBIT increased by 3.9% to EUR501 million.

The solid growth in operating results together with the contribution from Abertis drives a net profit growth of 12.9% to EUR282 million. Adjusting for FX, net profit growth stands at 13%. As you are aware, Abertis is accounted for use in the equity method.

Likewise operating cash flow improved by 2.7% year-on-year on a last 12-month basis despite operating CapEx increase and the significantly higher inflow from working capital variation in the prior period. Our net debt stood at EUR897 million.

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