The construction and services company, ACS, improved its net profit until September by 5.8%, to 603 million euros, with a growth of 13.2% in Ebitda (1,712 million) and 10.2% in income (25,758 million). The results were driven by its subsidiary, Hochtief, which contributed a third of net profit and 36% more than in the same period of 2016.
ACS presented growth in its construction division in all geographical areas in which it is present, including Spain and North America as the main driver of the group, contributing almost half of the turnover ahead of Australia.
By divisions, revenues under construction grew by 13.3%, to 19,775 million, having contributed 77% of revenues and 68% of the group’s Ebitda. The industrial services division grew 3% (4,936 million) while the services division dropped 8% (1,067 million).
The construction and services company improved its net profit until September by 8%, to 97 million euros, with a growth of 4% in Ebitda (272 million) and 4% in income (2.249 million). The net profit of the construction group was driven by the good performance of the international business, as well as the contribution of its Repsol investee (8.2% of the capital, 197 million).
Excluding extraordinary items recorded in 2016 (sale of shares in Portuguese hospitals), net profit would have grown by 41%. At a revenue level, more than half of the turnover came from its international business.
OHL, the construction company, recorded losses of 15.3 million euros, during the third quarter, compared to the profit of 3.9 million obtained in the same period last year. However, OHL explains that if the impact of the ERE is eliminated (335 jobs in OHL and 122 in Industrial OHL), which represents 34.2 million and other impairments of financial assets, which subtract 10 million, would be 28.9 million, 1.1% on the turnover.
The billing gave the company 2,740 million euros, this means 12.1% less than what was registered during the same period last year. Ebitda reached 723 million, an increase of 26.6%, despite the devaluation of the currencies, mainly the Mexican peso. If not for the exchange rate, Ebitda would have risen to 747.3 million, this would mean an increase of 30.8%.
The telecommunications infrastructure operator reduced its net profit to 33 million euros, compared to 35 million in the same period last year, due to higher amortizations (28% compared to the third quarter of 2016) and financial costs (58%) associated with the growth of the group and the consequent expansion of the perimeter.
Cellnexx revenues up to September totaled 579 million (compared to 520 million until September 2016) and Ebitda reached 259 million (compared to 208 million). 41% of revenues and 41% of Ebitda are generated outside of Spain.