ACS Actividades de Construccion y Servicios SA (CHIX:ACSe)
€ 41.6 0.85 (2.09%) Market Cap: 10.18 Bil Enterprise Value: 12.38 Bil PE Ratio: 26.82 PB Ratio: 2.00 GF Score: 80/100
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Q3 2019 ACS Actividades de Construccion y Servicios SA Earnings Call Transcript

Nov 08, 2019 / 10:00AM GMT
Release Date Price: €35.57 (-1.60%)
Unidentified Company Representative

Good morning, everyone, and thank you for joining us for this ACS Third Quarter '19 Results Conference Call. I'm 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 any questions you might have.

9 months '19 key figures. ACS has delivered a robust performance during the first 3 quarters of '19. At operating level, sales rose by 6.3% to EUR 28.8 billion. EBITDA increased by 10.8% to EUR 2.4 billion and EBIT by 7% to over EUR 1.6 billion. These solid operating results drive a net profit growth of 11.2% to EUR 769 million. This figure includes a EUR 193 million contribution from Abertis.

Operating cash flow adjusted for factoring improved by over EUR 500 million compared to the 9 months '18 despite an operating CapEx increase and higher tax payments in the current period. Our net debt stood at EUR 1.2 billion. And the main driver here is over EUR 1 billion equity invested in the Abertis transaction. Lastly, on this slide, I want to underline our

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