Quarterly Results of Indra, Endesa, Prosegur Cash, Saeta Yield and Hotchief

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Quarterly Results of Indra, Endesa, Prosegur Cash, Saeta Yield and Hotchief

Quarterly results - December 2017

Quarterly results - December 2017

The Spanish technology company, Indra, achieved until September a 76% improvement in net profit (85 million euros), with a growth of 13% in Ebitda (171 million), Ebitda margin of 8.1% (compared to 7.7% in the same period in 2016), 19% in operating profit (124 million), 8.5% in revenues (2,116 million, -1% in comparable terms) and 13% in hiring.

The organic growth of the technology business and the integration of Tecnocom boosted the results. In addition, free cash flow reached 44 million, 1.1% compared to the first nine months in 2016. On the other hand, net debt stood at the end of September at 680 million, compared to 745 in June and 460 million, excluding the purchase made by Tecnocom. Meanwhile, Indra maintains revenue estimates, operating margin and cash generation during the current year.

Endesa

The electric company published results in line with expectations. Ebitda yields 11% (-15% overall), pressured by poor market conditions, both in electricity and gas. Several extraordinary elements were positive (greater contribution of EGPE, reliquidations in extra peninsular generation and recognition of the social bonus) and allow it to align with the objectives set for the end of the year (EBITDA of 3,400 million euros, net profit of 1,400 million).

Efficiency plans are accelerated, reducing fixed costs by 3% compared to 1% in the first half of 2017. Net profit fell by 17% despite the fact that it is favored by an improvement in financial results and by higher results of investees. Net debt rose 19% due to the lower operating cash generated and the higher dividends distributed.

Indra-Endesa-Prosegur-Cash-Saeta-Yield-Hotchief

Prosegur Cash

The subsidiary of the security firm, Prosegur, achieved revenues in the first nine months of the year of 1,436 million euros (17%), Ebitda of 305 million (20%), Ebit of 255 million (22%) and a net profit of continued activities of 170 million (37%).

The growth in sales is explained by the double-digit organic growth (14.7%), the greater weight of the new products (8.4% of sales compared to the previous 6.5%) and a slight positive effect of the exchange rates (0.6%). In addition, there has been a margin expansion (80 basis points, up to 17.8%).

Saeta Yield

The power company has achieved, until September, revenues of 246.9 million euros (15.7%), Ebitda of 177.8 million (17.4%), a net income attributable of 30 million (42.9%), a cash flow of 91 million (47.4%) and 46.1 million in dividends were paid (4.9%).

Hotchief (ACS)

The German company, Hotchief, in which the Spanish construction company ACS has a participation of 71.7%, presented yesterday strong quarterly growth in all its operational magnitudes. Revenues reached 15,600 million euros (15%); Ebitda was 959 million (33%) and net income attributable was 303 million (36%), with a 34% growth in the project portfolio. ACS presents results next Monday.

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