ACS, Actividades de Construcción y Servicios, S.A. (ACSAF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and thank you for attending 2025 Results Call of ACS Group. I'm joined by our corporate general manager, Ángel García Altozano, and our chief financial officer, Emilio Grande. As usual, after the presentation, we'll host a Q&A session to provide you with any clarification that you may need. Those who are connected via our website can ask their questions through the established channel. So let's start with the first slide of our presentation. In 2025, the group delivered very strong operational and financial results, with solid growth in sales, backlog, and net profit, backed by robust gas flow generation. We're making solid progress in executing our strategy, increasingly leveraging our global footprint and engineering expertise to drive sustainable growth. We continue to actively pursue highly attractive equity investments opportunities across both traditional and next generation markets, generating long-term value for all our stakeholders. Let me give an overview of the key highlights for the period. Ordinary net profit reached 857 million euros, up 25.3%, or 32.4% if it's adjusted, exceeding our top end of our revised guidance. On our reported basis, net profit stood at 950 million. Sales in EBITDA were up by 20% and 20% respectively, driven by robust momentum across all our segments. Operating margins improved as well across the group. Net operating cash flow reached 2.2 billion euros in the last 12 months. This is up 320 million adjusted for factoring variations, highlighting the quality of for-profit growth. As a result of this strong cash flow generation, the group achieved a net cash position of 17 million euros at the end of 2025. This is after allocating 2.1 billion to strategic investments and shareholder remuneration. SWATIC invest...