Acs, Actividades De Construccion Y Servicios Sa · BME:ACS
Acs, Actividades De Construccion Y Servicios Sa — Q3 2015 Earnings Presentation
14 slides from Acs, Actividades De Construccion Y Servicios Sa's earnings presentation, Nov 13, 2015
Slide 1: 3Q15 Results Presentation
3Q15 Results Presentation November 13rd, 2015
Slide 2: Results Highlights
Results Highlights Revenues stability and enhanced backlog Strong order intake YTD Operating margins increase Solid operating results despite disposals LTM working capital Good evolution of operating cash flow improvement LTM Net Debt reduction Degearing process almost completed € 2.0 bn 2
Slide 3: Key financials 3Q15
Key financials 3Q15 Sales +3.6% International diversification Positive impact of forex Backlog +3.7% Strong order intake in America LTM book-to-bill 1.0x EBIT +7.2% Comparable growth (ex-renewables) +28% Net Profit +4.2% In line with FY2015 targets Significant improvement of the 9m14 9m15 + € 383mn
Slide 4: Sales
Sales 19,090 +2.1% 4,944 -4.4% TOTAL SALES € mn 2,360 +47.5% 72% 19% 9% 9M15 Construction Industrial Services Environment € 26,366 mn 11,911 +24.6% 7,615 -12.9% +3.2% +3.6% 4,565 -14.8% € mn 2,149 -36.1% 17% 8% 45% 29% 129 1% Spain Rest of Europe America Asia Pacific Africa Not included in graph 1:
Slide 5: Backlog
Backlog 46,757 +5.0% BACKLOG € mn 8,151 +5.3% 9,854 -2.8% 72% 15% Sept 2015 13% Construction Industrial Services Environment € 64,761 mn 24,854 +30.5% 20,256 -9.8% +3.7% 10,941 -5.0% 7,760 -8.8% € mn +5.5% 17% 12% 38% 31% 950 2% Spain Rest of Europe America Asia Pacific Africa 5
Slide 6: Operating Results
Operating Results € 174 mn decrease due to Renewables 204 (170) 47 1 € mn 1.768 1.768 1.816 1,816 1,734 1.734 EBITDA +4.7% 9M14 Construction Industrial Services Environment Corporation 9M15 (166) 29 217 1 1,120 1.120 1.171 1.171 1.201 1,201 € mn EBIT +7.2% 9M14 Construction Industrial Services Envir
Slide 7: Net Results
Net Results Net Impact 9M14 9M15 Variation from € mn Restructuring Construction Net Profit 143 152 +6,1% (32) Industrial Services Net Profit 314 252 -20,0% (13) Environment Net Profit 55 55 +0,7% (1) Corporation Net Result 38 115 n.s. 64 Net Profit 551 574 +4.2% 19 Industrial Services affected by re
Slide 8: Cash Flow from Operations YTD
Cash Flow from Operations YTD 9m14 9m15 Already collected from PEMEX in early October (680) 1,188 897 c.200 (1,354) € 217mn Cash flow Cash flow WC variation Cash inflow from (166) from from operating operating operating activities activities activities before WC before WC WC variation Cash outflow v
Slide 9: Working Capital evolution
Working Capital evolution Cash flow from WC variation YTD (€ mn) 9m12 9m13 9m14 9m15 -680 -1,349 -1,459 -1,354 33% Cash flow from WC variation by quarters 776 (€ mn) 607 -1,184 -103 4Q14 1Q15 2Q15 3Q15 33% ACS has generated approx. € 100 mn of cash inflow from WC in the LTM* vs. a cash outflow of mo
Slide 10: Cash Flow from underlying businesses
Cash Flow from underlying businesses 9m14 9m15 +19% € 185 mn 274 € 289mn 8 116 13 Discont. 51 IBE Renewables Operations Taxes paid IBE Taxes paid Dividends + Dividends 1,188 Renowables 1,165 980 897 CF from Pre Tax Pre Tax CF from Operations Underlying Underlying Operations before WC Cash Flow Cash
Slide 11: Investments
Investments Net Investments 9m15 € 141 mn Net Operating Capex Net Financial Investments / (Disposals) € 290 mn € (149) mn 9M investments, €mn Construction € 7 mn -66% Industrial Services € (204) mn 859 Environment € 41 mn 511 290 Corporation € 7 mn 9m13 9m14 9m15 Sale of 75% of Saeta Yield (IPO & GI
Slide 12: Net Debt evolution LTM
Net Debt evolution LTM Net debt / EBITDA 15e = 1.5x - € 1,992 mn € 1,208mn -33.9% € 389mn € 1,902mn € 729mn € 5,872mn € 4.664 mn € 3,880mn € 3.151 mn Net Debt Operating Cash flow Operating CAPEX Net financial Dividends & treasury Net Debt 30/09/14 net of WC variation (net) disposals & others stock 3
Slide 13: Conclusions
Conclusions Sustainable revenues growth Increased backlog supported by significant orders intake during the year Solid operating performance HOCHTIEF & CIMIC transformation process paying-off in margins enhancement Deleverage targets achieved Positive impact on financial expenses in the coming quart
Slide 14: Disclaimer
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 of it
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