ACS, Actividades de Construcción y Servicios, S.A. (ACSAF) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Buenos dias a todos. Good morning to everyone and thank you very much for joining us today and attending our 2024 financial results presentation for the ACS group. I'm here with Angel García de Lozano, who's our corporate general manager, and Mr. Emilio Grande, who's the CFO for the group. And as usual, following the presentation, there'll be time for a Q&A session so that we can clarify any points you'd like to raise. And if you're following us through streaming on the website, you can also send in your questions. through the usual channel. Let me start off with the first slide on the screen this morning. ACS had what we think was an excellent year 2024 with regard to the operational evolution of our businesses and cash generation. It was very satisfactory with regard to the relevant corporate transactions for the group's strategy. Ordinary net profit totalled 684 million euros. That's up 14%. comfortably outstripping the target, which was envisaged at between 8% and 12%. Now, these are the ordinary figures. They do not include non-recurring items, which are essentially the capital gain for the sale of 57% of the SH-288 in 2023 and the impact of the book capital gain in CIMIC and the termination of the SH-288. These are both net of provisions and non-recurring results in 2024. Net profit totalled €828 million and earnings per share was €3.23 per share. That's equivalent to an increase of 7.8%. In like-for-like terms, the before-tax profit increased by 23.6%. That was driven by Turner's growth because Turner saw growth in top profit by 37%. So this year we have recorded exceptional net operating cash flow generation. That was 2.1 billion euros. That's 1.1 billion more than in 2023 thanks to the excellent operations and strong growth in our BIT as well as solid cash c...