ACS, Actividades de Construcción y Servicios, S.A. (ACSAF) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone, and thank you for joining us for the ATS Group 2024 First Half Results Call. This is Javier Crespo, Head of Investor Relations. The call will be led by our CEO, Juan Santamaria, who is accompanied by our Corporate General Manager, Anja García-Altozano, the Group's Chief Financial Officer, Emilio Grandes, and the rest of the management team. As usual, after the presentation, we will open up for a Q&A session. Now, let me pass to Juan. Thank you so much, Javier. Good afternoon, and thank you for being with us today. ACS delivered excellent first-hand results in 2024 with solid growth of sales, backlog, and net profit, backed by strong cash flow generation. Over the last quarter, we have implemented important strategic initiatives that strengthen our competitive position. Number one, in May, Criteria Caixa one of Europe's leading investment holding companies, announced it had become a core shareholder of ACS after acquiring a 9.4% stake via the exercise of the financial derivatives we held. Today, Mr. Isidro Fainé has been appointed as member of the board. We're extremely proud to have him on board. Also, the cash settlement of these derivatives is providing us with further firepower to deliver on our investment plans. Number two, last week we agreed to acquire Dornan Engineering, a rapidly growing advanced tech engineering company based in Europe. This transaction will allow Dornan to accelerate its strategy to expand in European data center, biopharma, life science, and industrial markets. Third, today we announced the creation of Lateran Dragados, a leading North American civil construction company. by combining Dragados and Coctif engineering and construction subsidiaries in the US and Canada. This transaction approved by Coctif, Dragados, and ACS b...