Acs, Actividades De Construccion Y Servicios Sa · BME:ACS

Acs, Actividades De Construccion Y Servicios Sa — H1 2005 Earnings Presentation

23 slides from Acs, Actividades De Construccion Y Servicios Sa's earnings presentation, Sep 1, 2005

  1. Slide 1: 1H / 2005 Results Data Conference

    1H / 2005 Results Data Conference September 1st, 2005 1

  2. Slide 2: Index

    Índex Executive Summary 1H/2005 Results Balance sheet at June 30th, 2005 Business lines Conclussions 2

  3. Slide 3: Executive Summary

    Executive Summary Good operating and financial performance Turnover Strong sales growth € 5,720 mn +10.9% EBITDA Operating margins improvement € 501.4 mn +12.2% Equity method Contribution from Affiliates € 48.7 mn +59.7% Net Profit Excellent results € 272.5 mn +28.1% Corporate Net Debt Keeping the g

  4. Slide 4: Executive Summary: 1H/05 Key figures

    Executive Summary 1H/05 Key figures (Euro Million) 1H/04 1H/05 Variation Turnover 5.156,0 5.720,0 +10,9 % EBITDA 447,0 501,4 +12,2 % EBIT 329,7 377,4 +14,5 % Net Profit 212,7 272,5 +28,1 % EPS 0,61 € 0,78 € +28,6 % Total Net Debt 1.751,5 1.760,1 +0,5 % Corporate Net Debt 1.407,9 1.210,4 -14,0 % Proj

  5. Slide 5: Consolidated Results: Income statement

    Consolidated Results Income statement 1H/04 1H/05 Variation (Euro Million) Turnover 5.156,0 5.720,0 +10,9 % Operating Expenses 4.709,0 5.218,5 Operating Cash-Flow (EBITDA) 447,0 501,4 +12,2 % Amortization 110,7 113,0 Provisions 6,6 11,0 Operating Profit (EBIT) 329,7 377,4 +14,5 % Net Financial Resul

  6. Slide 6: Consolidated Results: Operating ratios performance

    Consolidated Results Operating ratios performance 10,0% 35% 8,8% 8,7% 8,0% 33% 6,4% 6,6% 6,0% 31% 4,8% 4,1% 4,0% 29% 27,7% 2,0% 27% 26,7% 0,0% 25% June 2004 June 2005 EBITDA / Sales EBIT / Sales Net Profit / Sales Effective Tax rate 6

  7. Slide 7: Consolidated Results: Breakdown by activity

    Consolidated Results Breakdown by activity 1H/05 Turnover EBIT Net Profit 20% 8% 6% 24% 42% 39% 46% 18% 34% 34% 29% 1H/04 Turnover EBIT Net Profit 21% 22% 7% 4% 17% 48% 46% 44% 31% 32% 28% Construction Industrial Services Services Concessions Urbis NOTE: Percentages are calculated over the sum of th

  8. Slide 8: Consolidated Results: Consolidated balance sheet

    Consolidated Results Consolidated balance sheet Variation (Euro Million) Jun-04 Dec-04 Jun-05 Jun 05/04 Tangible & intangible assets 2.387,6 2.572,0 2.892,0 +21,1 % Goodwill 998,1 1.010,8 1.032,7 +3,5 % Financial assets 1.394,7 1.861,7 2.192,9 +57,2 % Fixed Assets 4.780,4 5.444,5 6.117,6 +28,0 % Ass

  9. Slide 9: Consolidated balance sheet evolution

    Consolidated Results Consolidated balance sheet evolution 2,906.6 3,293.5 3,788.1 4,254.1 4,139.8 4,641.1 TOTAL NET ASSETS Fixed assets 97,0% 107,1% 109,6% 101,6% 92,6% 89,9% Goodwill Net worth 6,9% 29,6% 24,4% 22,3% 27,5% 21,9% 25,2% 11,9% 11,7% 17,7% Other non-current liabilities -8,5% -17,7% -17,

  10. Slide 10: Consolidated Results: Net debt evolution

    Consolidated Results Net debt evolution 2.600 IFRS 100% 2.400 90% 2.200 78% 80% 2.000 1.800 70% 55% % over Total Equity 1.600 60% Euro Million 1.400 48% 46% 50% 1.200 35% 40% 1.000 33% 27% 800 27% 24% 30% 22% 22% 600 20% 14% 20% 400 7% 10% 200 0 0% dec-00 dec-01 dec-02 dec-03 jun-04 dec-04 jun-05 Co

  11. Slide 11: Consolidated Results: Cash flow statement

    Consolidated Results Cash flow statement 1H/04 1H/05 Variation (Euro Million) Cash Flow from Operations 309,7 358,1 Working Capital Variation (230,2) 132,9 Net Cash Flow from Operating Activities 79,5 491,0 517,6% Fixed assets investments (150,3) (73,7) Concessional projects investments (108,3) (272

  12. Slide 12: Construction: Results

    Business Lines Construction: Results (Euro Million) 1H / 2004 1H / 2005 Variation Turnover 2.524,3 2.643,1 +4,7% Operating Cash-Flow (EBITDA) 183,5 191,6 +4,4% Operating Profit (EBIT) 155,7 163,4 +4,9% Cont. Operations PBT 156,1 171,8 +10,1% Attributable Net Income 108,3 111,3 +2,7% Operating Cash-F

  13. Slide 13: Construction: Sales breakdown

    Business Lines Construction: Sales breakdown 1H/05: € 2,643 mn Type of Activity Domestic Civil Works Domestic Clients 18% 26% 26% 34% 45% 23% 59% 10% 17% 30% 12% 1H/04: € 2,524 mn Type of Activity Domestic Civil Works Domestic Clients 18% 28% 40% 33% 36% 23% 59% 23% 13% 17% 10% Civil Works Highways

  14. Slide 14: Construction: Backlog breakdown

    Business Lines Construction: Backlog breakdown 1H/05: € 8,719 mn (20 months) Type of Activity Tipo de ObraCivil Domestic CivilWorks Nacional Domestic Clients 21% 20% 30% 30% 38% 13% 67% 12% 14% 37% 18% 1H/04: € 8,460 mn (19 months) Type of Activity Domestic Civil Works Domestic Clients 13% 16% 29% 3

  15. Slide 15: Industrial Services: Results

    Business Lines Industrial Services: Results (Euro Million) 1H/2004 1H/2005 Variation Turnover 1.612,8 1.960,7 +21,6% Operating Cash-Flow (EBITDA) 128,5 162,0 +26,1% Operating Profit (EBIT) 108,2 134,0 +23,9% Cont. Operations PBT 99,6 123,9 +24,4% Attributable Net Income 68,7 85,3 +24,1% Operating Ca

  16. Slide 16: Industrial Services: Sales breakdown

    Business Lines Industrial Services: Sales breakdown (Euro Million) Variation 1H/2004 1H/2005 Networks 354,5 395,9 +11,7 % Specialized Products 560,3 620,0 +10,6 % Integrated Projects 389,4 595,7 +53,0 % Control Systems 308,5 349,2 +13,2 % TOTAL 1.612,8 1.960,7 +21,6 % International 476,2 598,3 30 %

  17. Slide 17: Industrial Services: Backlog breakdown

    Business Lines Industrial Services: Backlog breakdown (Euro Million) Variation 1H/2004 1H/2005 Networks 593,5 962,4 +62,2 % Specialized Products 890,1 1.223,5 +37,5 % Integrated Projects 1.176,8 1.038,3 -11,8 % Control Systems 723,5 803,1 +11,0 % TOTAL 3.383,8 4.027,3 +19,0 % International 1.004,4 1

  18. Slide 18: Services: Results

    Business Lines Services: Results (Euro Million) 1H/2004 1H/2005 Variation Turnover 1.070,4 1.158,1 +8,2% Operating Cash-Flow (EBITDA) 143,3 162,6 +13,5% Operating Profit (EBIT) 76,7 95,2 +24,2% Cont. Operations PBT 60,3 77,9 +29,1% Attributable Net Income 41,4 51,1 +23,5% Operating Cash-Flow (Ebitda

  19. Slide 19: Services: Sales breakdown

    Business Lines Services: Sales breakdown (Euro Million) 1H/2004 1H/2005 Var. Environment 498,7 524,2 +5,1 % Ports & Logistic 225,5 254,9 +13,0 % Passenger Transportation 83,7 88,8 +6,1 % Facility Management 262,4 290,1 +10,6 % TOTAL 1.070,4 1.158,1 +8,2 % International 106,4 105,6 9,9% 9,1% 1H / 04

  20. Slide 20: Services: Backlog breakdown

    Business Lines Services: Backlog breakdown 1H / 2004 1H / 2005 Var. (Euro Million) Environment 6.579,9 6.462,3 -1,8 % Ports & Logistic 2.625,4 3.260,3 +24,2 % Passenger Transportation 1.510,6 1.386,2 -8,2 % Facility Management 622,9 585,0 -6,1 % TOTAL 11.338,8 11.693,7 +3,1 % International 1.182,1 1

  21. Slide 21: Concessions: Results

    Business Lines Concessions: Results (Euro Million) 1H / 2004 1H / 2005 Var. Turnover 12,9 5,3 N/A Operating Cash-Flow (EBITDA) 4,2 (1,5) N/A Operating Profit (EBIT) 3,0 (0,3) N/A Equity method 14,7 25,8 +75,5% Attributable Net Income 16,7 23,7 +41,9% Operating Cash-Flow (Ebitda)/Turnover N/A N/A Ope

  22. Slide 22: Conclusions

    Conclusions Committed to value creation Good operating performance: excellent 2005 prospects International expansion through organic growth Strong cash flow generation Growth capex and concessional projects Financial soundness FOCUS ON SHAREHOLDERS’ RETURN 22

  23. Slide 23: 1H / 2005 Results Data Conference

    1H / 2005 Results Data Conference September 1st, 2005 23

ACS, Actividades de Construcción y Servicios — H1 2005 Earnings Presentation on 6ix