ACS, Actividades de Construccion y Servicios SA · BME:ACS
ACS, Actividades de Construccion y Servicios SA — Investor Presentation (April 2016)
20 slides from ACS, Actividades de Construccion y Servicios SA's investor presentation, April 2016
Slide 1: Building the future: The leading global contractor
April 2016 Building the future The leading global contractor
Slide 2: 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
Slide 3: The leading global infrastructure developer
The leading global infrastructure developer 2006… from A LOCAL player 2015… to THE GLOBAL leader 1st 84% 17th 15% 3
Slide 4: Highly diversified in terms of activities…
Highly diversified in terms of activities… € 34.9 bn revenues of which… 72% 19% 9% CONSTRUCTION INDUSTRIAL SERVICES ENVIRONMENT Civil works EPC 41% Waste 52% management Contract 52% Logistic 4% mining 8% Support Facility Building 40% Services 59% management 44% 4
Slide 5: …and geographies
…and geographies Figures in € billions € 34.9 bn revenues of which… NORTH AMERICA EUROPE 40% 25% 17% 8.8bn 8% 13.9bn 3% ASIA 32% 5% 1% 11% 6% 3.7bn SOUTH AMERICA AFRICA R 4% 1% 6% 2.3bn 1% 1% AUSTRALIA 17% 1% 0.2bn 6.0bn R 3% 5
Slide 6: Robust results in an adverse scenario…
Robust results in an adverse scenario… 2015 RESULT Var. 14/15 VAR 14-15 Reported Proforma* Var. PRO-FORMA* Sales €€34,925 34,925mn mn +1.0% +0.1% +0.1%+1.0% EBITDA €€ 2,409 2,409 mn mn +3.6% -5.6% -5.6%+3.6% EBIT € 1,541 mn -8.5% +5.8% Net Profit € 725 mn +1.1% * Not taking into account the sale of
Slide 7: …with underlying growth across business activities
…with underlying growth across business activities CONSTRUCTION INDUSTRIAL SERVICES ENVIRONMENT Incorporation of Clece in Contract mining Renewables disposal jul-14 25,820 25,319 +5.0% 3,139 SALES (€mn) 6,750 6,501 +0.6% 650 23,254 +0.6% 2,338 6,447 23,122 6,406 2014 2015 2014 2015 2014 2015 1,410 1
Slide 8: Highly focused on Cash Flow generation
Highly focused on Cash Flow generation Free Cash Flow for shareholders 2015 (€mn) 5.84% HOT acquisition 336 254 311 625 Projects & other assets Total Net Investments 1,374 2,009 1,673 393 1,616 Operating CF WC var Operating Operating Net Operating Net Project & FCF for (bf WC & CAPEX) CF CAPEX FCF F
Slide 9: Disciplined working capital management
Disciplined working capital management WORKING CAPITAL Variation 2015 (€mn) 109 160 Consolidation 2,980 465 adjustments and reclassifications 2,464 € Operating WC var 625 Working Capital Operating WC var. Operating WC var. Others Working Capital 12/31/14 HOCHTIEF ACS ex HOT 12/31/15 Operating CF (bf
Slide 10: Drastic leverage reduction during the last years…
Drastic leverage reduction during the last 5 years… Project Finance Net Debt / EBITDA 2015 = 1.09x -72% 9,334 395 4,952 4,235 781 3,722 685 -30% 593 2,624 541 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Dec 2015 10
Slide 11: …to achieve a solid financial position
…to achieve a solid financial position One of the lowest leveraged IBEX companies… NET DEBT 2015 € 2.6 bn 1.1x EBITDA 8x FCC 7x 6x Indra Enagas Abertis ND/EBITDA 5x Ferrovial Acciona OHL Iberdrola 4x REE Telefonica Grifols Aena SA Arcelor 3x Acerinoz Gas Natural Repsol Ebro Endesa 2x Amadeus Mapfre
Slide 12: €10.6 bn Gross Debt structure breakdown
€ 10.6 bn Gross Debt structure breakdown By maturity* By facilities Other sources Revolving facilities 7% Bank Debt 19% Long term 57% 72% Short term Bonds 9% 36% * Not including IBE exch. bond nor other financial assets By currency By activities Other currencies Dragados 2% 8% CONSTRUCTION Corporati
Slide 13: 2015: a year of successful commercial performance
2015: a year of successful commercial performance Var. 14-15 Backlog 2015 € 67,072 mn +5.0% 30% 28% € 18,787 mn € 20,249 mn 34% € 22,485 mn 7% 1% € 4,554 mn € 998 mn 13
Slide 14: Growing in developed markets…
Growing in developed markets… NORTH AMERICA € 38.6 bn intakes in 2015 of which… 20.2 • Leading position in the region 16.6 of North America which has 13.5 experienced a strong growth +50% in the last two years • 75% of the current backlog in 2013 2014 2015 42% North America corresponds to the USA wi
Slide 15: …with high potential growth
…with high potential growth € 38.6 bn intakes in 2015 of which… ASIA PACIFIC Middle East Rest of Asia 23.5 22.1 22.5 5% 3% Contract mining € 1.2 bn € 2.0 bn +19% 2013 2014 2015 Backlog (€ bn) • Leading position in the Asia Pacific region Australia where the construction backlog has grown by 19% from
Slide 16: …even in stagnated economies
…even in stagnated economies EUROPE € 38.6 bn intakes in 2015 of which… 19.0 19.5 18.8 Rest of Europe • Resistant position in a stagnated region with low 8% recovery potential in the mid term 2013 2014 2015 3.3 bn • However… Backlog (€ bn) Slight recovery of the backlog in Germany Taking advanta
Slide 17: Walking the extra mile…
Walking the extra mile… 2006 2012 2016 INTERNATIONALIZATION TRANSFORMATION EXCELLENCE Reducing corporate complexity in order to gain STREAMLINING cash flow visibility Continuously seeking investment opportunities, promoting sustainable growth and COMPETITIVENESS consolidating leading position worldw
Slide 18: …to optimize value creation
…to optimize value creation … with potential for profitable A solid security… growth Global leader with a long successful track record worldwide Growing in developed countries with low risk profile and growth potential Diversified geographical and business mix Continuous transformation process which
Slide 19: Conclusions
Conclusions Excellent competitive and commercial position as infrastructure developer in the largest developed markets High net income potential upside derived from a continuous transformation process to enhance profitability Solid financial structure after a significant reduction of the Group’s Net
Slide 20: ACS
ACS, ACTIVIDADES DE CONSTRUCCION Y srncas
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