Acs, Actividades De Construccion Y Servicios Sa · BME:ACS
Acs, Actividades De Construccion Y Servicios Sa — H1 2024 Earnings Presentation
27 slides from Acs, Actividades De Construccion Y Servicios Sa's earnings presentation, Jul 30, 2024
Slide 1: H1 2024 Results Presentation
H1 2024 | Results Presentation H1 2024 RESULTS PRESENTATION July 30th, 2024 1
Slide 2: H1 2024 overview
H1 2024 | Results Presentation H1 2024 overview Net rofit of €416mn, Strong Net Operating Net Debt position of New orders € bn, Corporate milestones up 8.6% yoy FX-adj. Cash low “NOCF” € bn increased by +15.9% yoy FX-adj.; vs €385mn in H1 of € mn backlog up +11.5% ✓ CriteriaCaixa became a core € mn
Slide 3: P&L and operating KPIs
H1 2024 | Results Presentation P&L and operating KPIs First half Ordinary NPAT grew at double digit, in line with the top-end of guidance range Euro Million H1 2023 H1 2023 PF (1) H1 2024 yoy (3) yoy FX-adj. Sales 17,033 17,674 18,749 6.1% 6.3% ▪ 6.1% sales increase across segments (+6.3% fx-adj.).
Slide 4: Attributable Ordinary NPAT breakdown
H1 2024 | Results Presentation Attributable Ordinary NPAT breakdown Solid growth at Ordinary NPAT level, driven by strong performance in all segments Euro Million H1 2023 H1 2024 yoy yoy FX-adj. Integrated Solutions 186 237 27.3% 28.0% ▪ T rner’s Attributable NPAT grew by 48% to become the largest c
Slide 5: Cash flow performance
H1 2024 | Results Presentation Cash flow performance Strong cash flow generation in the first half of 2024, improving by €749mn yoy Euro Million H1 2023 H1 2024 yoy LTM Profit Before Tax (PBT) 612 564 -48 1.079 ▪ Strong € bn NOC LTM, supported by working capital improvement of € mn, driven by Dragad
Slide 6: Financial position
H1 2024 | Results Presentation Financial position Net debt position at June 2024 of €1.6bn, including €1.1bn Thiess net debt consolidation Figures in €mn ▪ The group ended H1 2024 with a net debt osition of € , mn, an increase of € mn, after incorporating € bn of Thiess net debt in the consolidation
Slide 7: Order backlog and new orders
H1 2024 | Results Presentation Order backlog and new orders Continued growth in backlog visibility and diversification towards growth markets New orders development (€bn) Digital Other Infrastr ct re Nat ral nergy transition reso rces New s stainable mobility Trans ortation €86.7bn (1) & Social infr
Slide 8: Selected recent significant project announcements
H1 2024 | Results Presentation Selected recent significant project announcements Energy transition Digital Infrastructure BHE(1) and Social Infrastructure o The South Dade Transit Operations Center in Miami, USA: new o Semiconductor fabs in Germany and Malaysia using o Northwestern Ryan Field, stadi
Slide 9: Performance by Segment
H1 2024 | Results Presentation H1 2024 | Results Presentation Performance by Segment 9
Slide 10: Turner
H1 2024 | Results Presentation Turner Very strong PBT growth on the back of expanding margins, Q2 sales acceleration and robust new orders growth Euro Million H1 2023 H1 2024 yoy yoy FX-adj. Sales 7,619 8,650 13.5% 13.3% ▪ Strong sales growth of 14% after Q2 acceleration (13.3% fx-adj.) EBITDA 191 2
Slide 11: Turner – Strategic acquisition of Dornan Engineering in Europe
H1 2024 | Results Presentation Turner – Strategic acquisition of Dornan Engineering in Europe Decisive step that accelerates Turner’s strategic expansion into Europe through the acquisition of an advanced-tech engineering business Sales split per market (FY 2023) ▪ Dornan, headquartered in Ireland,
Slide 12: CIMIC
H1 2024 | Results Presentation CIMIC Leveraging energy transition and natural resources opportunities supported by strategic M&A Euro Million H1 2023 PF (1) H1 2024 yoy (4) yoy FX-adj. ▪ Acquisition of an additional 10% of Thiess for A$320mn Sales 4,449 4,160 (6.5%) (5.0%) EBITDA 429 500 16.5% 18.3%
Slide 13: Engineering & Construction
H1 2024 | Results Presentation Engineering & Construction Solid civil engineering & public buildings prospects driven by infrastructure needs Euro Million H1 2023 H1 2024 yoy yoy FX-adj. Sales 4,386 4,679 6.7% 6.6% • Sales increased by 6.7% yoy with stable EBITDA margins of 5.1%. Double digit growth
Slide 14: E&C – Integration of ACS Group civil engineering and construction businesses in N.A.
H1 2024 | Results Presentation E&C – Integration of ACS Group leading civil engineering and construction businesses in N.A. Accretive to shareholders and a further step in A S roup’s corporate simplification process US rank #2 Dragados and HOCHTIEF have agreed to integrate their North American busin
Slide 15: Engineering & Construction – Dragados
H1 2024 | Results Presentation Engineering & Construction – Dragados Resilient EBITDA margins and growing order backlog Euro Million H1 2023 H1 2024 yoy yoy FX-adj. Sales 2,827 2,913 3.0% 2.9% ▪ Sales growth of 3% yoy to €2.9bn supported by a strong production in EBITDA 147 152 3.2% 3.1% Spain and t
Slide 16: Engineering & Construction – HOCHTIEF E&C
H1 2024 | Results Presentation Engineering & Construction – HOCHTIEF E&C Strong backlog and revenue growth Euro Million H1 2023 H1 2024 yoy yoy FX-adj. Sales 1,559 1,766 13.3% 13.2% ▪ Sales increased by 13% yoy to €1.8bn. EBITDA 79 88 11.8% 11.7% ▪ BT stable at €27mn, with firm margins % margin 5.1
Slide 17: Infrastructure
H1 2024 | Results Presentation Infrastructure High quality brownfield concessions and growth greenfield investment platform Euro Million H1 2023 PF (1) H1 2024 yoy (3) Sales 50 72 44.2% ▪ Abertis had a solid top-line operational performance with revenue and EBITDA Abertis - - up 11.2% and +12.9% res
Slide 18: Infrastructure – Abertis
H1 2024 | Results Presentation Infrastructure – Abertis Stable contribution to ACS Group EBITDA and Net Profit on the back of strong operating performance and cash flow generation Euro Million H1 2023 H1 2024 yoy Strong operating performance Sales (100%) 2,717 3,021 11.2% EBITDA (100%) 1,914 2,161 1
Slide 19: Infrastructure – Abertis: Key figures by country
H1 2024 | Results Presentation Infrastructure – Abertis Key figures by country EUROPE OVERSEAS HOLDING TOTAL € Mn France 0 Spain 0 Italy 0 USA (2) Mexico Chile Brazil Arg. Int. (3) A.Infra.(4) Total Group Km 1,769 631 236 309 1,011 412 3,193 175 152 - 7,886 Concessions 2 7 1 5 5 4 7 2 2 - 35 (1) Tra
Slide 20: Conclusions
H1 2024 | Results Presentation H1 2024 | Results Presentation Conclusions 20
Slide 21: Conclusions
H1 2024 | Results Presentation Conclusions REVENUES EBITDA ORDINARY NET PROFIT Solid operating performance across all segments +6.3% +12.0% € mn (FX adjusted) (FX adjusted) (up 11.4% yoy) Outstanding cash conversion LTM NOCF LTM WC variation H1 yoy NOCF supported by strong WC management € bn +€ mn +
Slide 22: Appendix
H1 2024 | Results Presentation H1 2024 | Results Presentation Appendix 22
Slide 23: Strategic guidelines by segment
H1 2024 | Results Presentation Strategic guidelines by segment Strong cash generation to drive balance between yield and growth Integrated Solutions Infrastructure E&C Greenfield E&C • US leadership with • Leading Australasian player • Perpetual value creation • Investment track record • Ongoing de-
Slide 24: CIMIC – 10% stake acquisition of Thiess
H1 2024 | Results Presentation CIMIC – 10% stake acquisition of Thiess The 10% stake acquisition will allow CIMIC to strengthen its governance over the day-to-day operations of the company. The group will fully consolidate Thiess starting in Q2 2024 Thiess (AUD million) 2022 2023 yoy Sales 3,950 5,9
Slide 25: Infrastructure – Greenfield equity investments
H1 2024 | Results Presentation Infrastructure – Greenfield equity investments Strong international and well-diversified portfolio of assets with a current book value of €1.9bn Portfolio (# of assets) ▪ € mn of greenfield net e ity investments in , of which: – €59mn invested through Pacific Partnersh
Slide 26: Legal Disclaimer
H1 2024 | Results Presentation H1 2024 | Results Presentation 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 othe
Slide 27: H1 2024 | Results Presentation
H1 2024 | Results Presentation 27
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