Acs, Actividades De Construccion Y Servicios Sa · BME:ACS
Acs, Actividades De Construccion Y Servicios Sa — Q1 2017 Earnings Presentation
13 slides from Acs, Actividades De Construccion Y Servicios Sa's earnings presentation, May 12, 2017
Slide 1: Results Presentation 1Q 2017
Results Presentation 1Q 2017 May 12th 2017
Slide 2: Executive Summary
Executive Summary OPERATING OUTPERFORMANCE ∆ 11% Sales & EBIT recovery in CIMIC & margins stability NET PROFIT GROWTH in the HIGH END TARGET ∆ 12.6% like-for-like* Net Profit INVESTMENT GRADE CREDIT RATING OBTAINED 1.7 €bn Net Debt 0.7x annualized EBITDA ROBUST BACKLOG ACROSS ACTIVITIES Solid commer
Slide 3: Key performance indicators 1Q 2017
Key performance indicators 1Q 2017 Var. Var. PRO-FORMA* SALES 8,357 €mn +11.2% +7.1% EBITDA 621 €mn +17.4% +13.1% EBIT 446 €mn +11.1% +7.3% NET PROFIT 233 €mn +6% +12.6% NET DEBT 1,695 €mn -55.9% -45.7% BACKLOG 68.1 €bn +15% +9.9% * Excluding F/X effect and Urbaser contribution in 2016 1Q 17 – Resul
Slide 4: Strong top line performance
Strong top line performance Figures in € million CONSTRUCTION CONSTRUCTION INDUSTRIAL SERVICES SERVICES +9.6% +2.2% +1.1% ex F/X ex F/X ex F/X +14.8% 6,158 +3.9% 1,856 +0.7% Sintax 348 5,362 SALES 1,787 SALES 346 SALES 1Q16 1Q17 1Q16 1Q17 1Q16 1Q17 • Strong activity recovery in • Slight growth in Cl
Slide 5: Sustainable operating margins
Sustainable operating margins Figures in € million CONSTRUCTION CONSTRUCTION INDUSTRIAL SERVICES SERVICES +26.7% +3.9% 406 +1.6% 211 Sintax 18 320 EBITDA 203 EBITDA 17 EBITDA 1Q16 1Q17 1Q16 1Q17 1Q16 1Q17 6.0% margin 6.6% 11.4% margin 11.4% 5.0% margin 5.1% • +60bp increase due to • Stable margins i
Slide 6: Net Profit breakdown by activity
Net Profit breakdown by activity Figures in € million 3M16 3M16 3M17 3M17 Variation Construction 72 91 +29.8% Industrial Services 113 119 +4.6% Services 23 12 -45.1 % Corporation 11 10 Reported Net Profit 220 233 +6.0% Adjustments (─) F/X impact (5) (─) Urbaser contribution (17) Like-for-like Net Pr
Slide 7: Drastic de-leveraging enables stable credit rating
Drastic de-leveraging enables stable credit rating 2,0x S&P Global 1,8x BBB / A-2 1,6x 3.028 1,5x INVESTMENT GRADE 2.982 Net Debt / 0,68x EBITDA 497 279 5.989 4.579 3.827 3.840 241 1.695 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Net Debt AHS Debt Figures in € million 1Q 17 – Results Presentation 7
Slide 8: 1Q 2017 Net Debt Evolution
1Q 2017 Net Debt Evolution Financial Operating Net SH’ F/X impact Net Debt Net Debt EBITDA expenses & Dec 2016 taxes WC var Investments remuneration & other Mar 2017 79 66 0.68 x € 85 mn Net financial 170 EBITDA expenses paid € 66 mn Corporate taxes paid € 100 mn Urbaser € 37 mn dividends ST receiva
Slide 9: Deseasonalized operating WC variation (LTM evolution)
Deseasonalized operating WC variation (LTM evolution) Figures in € million 1.000 Neutral effect target achieved 800 HOCHTIEF restructuring process taking 600 place + domestic market downturn 400 200 0 Sep 14 Dec14 Dic 14 Mar 15 Jun 15 Sep 15 Dec 15 Dic 15 Mar 16 Jun 16 Sep 16 Dec 16 Dic 16 Mar 17 (2
Slide 10: Robust order intake
Robust order intake… As of March 31th 2017 LTM var LTM var ex F/X impact BACKLOG 68,092 €mn +15% +9,9% 35% 18% € 24,029 mn € 12,215 mn +18.9% +3.2% 38% € 26,197 mn +15.4% 7% 1% € 4,809 mn € 842 mn +35.6% -6.1% LTM growth 1Q 17 – Results Presentation 10
Slide 11: …across activities
…across activities Figures in € million CONSTRUCTION CONSTRUCTION INDUSTRIAL SERVICES SERVICES +10.8% ex F/X +1.5% ex F/X +26.2% ex F/X +16.6% 57,349 +3.8% 8,750 +25.9% 1,994 49,182 BACKLOG 8,426 BACKLOG 1,583 BACKLOG 1Q16 1Q17 1Q16 1Q17 1Q16 1Q17 Africa 8% Rest of Europe Asia Pacific Spain 4% 43% S
Slide 12: Ready to grow and face future challenges
Ready to grow and face future challenges TOP LINE SOLID ROBUST HEALTHY RECOVERY GROWTH IN BACKLOG ACROSS FINANCIAL AND SUSTAINED BOTTOM LINE ACTIVITIES POSITION MARGINS READY TO DELIVER 2017-18 TARGETS 1Q 17 – Results Presentation 12
Slide 13: Legal Disclaimer
Legal Disclaimer This document contains forward-looking statements on the intentions. expectations or forecasts of Grupo ACS or its management at the time the document was drawn up and in reference to various matters including. among others. its customer base. its performance. the foreseeable growth
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