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| Sacyr Vallehermoso reports fall in first-half core earnings Spanish constructor and property developer Sacyr Vallehermoso group (SyV) obtained a net ordinary profit of €415.4 million during the first semester of 2008, which in comparable terms is 3.5% less than in the first semester of 2007. Sacyr Vallehermoso's turnover significantly increased 13.5% in the first semester up to €2,923.2 million. All business lines showed improvements, namely Valoriza (+34.2%), Sacyr (+19.1%) and Itínere (+17.2%). More than half of the consolidated turnover corresponds to construction activity (58.8%). The group's total portfolio also increased by 1.1% amounting to €88,446.4 million, which integrates a latent Ebitda of €55, 454.9 million that will be generated in the coming years. Ebitda was €539.7 million, down 6.5% with respect to the previous year due to decrease in land sales in the residential development area, but with increases in the rest of the operative areas. The group's gross margin was 18.5%. Recurrent activities represented 67.2% of the total Ebitda, up 9.3% with respect to 2007. write your comments about the article :: © 2008 Construction News :: home page |