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ACS Group Net Profit reached 361 million during 2020 first half

Attributable Net Profit in H1 2020 accounted for 361 million, showing a decrease of 30.9% compared to H1 2019 majorly due to Abertis' evolution, as traffic was strongly affected by lockdown measures implemented in the majority of the countries where it operates.

Not considering this impact, Net Profit went down by 5.1% in an exceptional period affected by COVID-19 pandemic; this trend reassures the strength and diversification of the Group's operating businesses.

The lockdown measures and mobility restrictions implemented in the majority of the countries where Abertis operates caused drastic drops in the daily average traffic since March, with strong setbacks during April and May. Therefore, Abertis contribution to the the Group's EBITDA and Net profit decreased in 175 and 141 million respectively in relation to the prior year. The removal of these restrictions during June allowed a gradual traffic recovery; currently, average daily traffic figures show a positive evolution.

In Services, Clece, cleaning and maintenance services of those social infrastructures which had to cease their activity in Spain during the state of alert, such as schools or leisure centres, non-essential facilities or air transport, were significantly reduced. However, the activity increase in hospitals and public dependencies allowed compensating sales volume, although the temporary reinforcement in occupational safety and health implied a decrease in its operating results during this quarter. Concretely, impact on EBITDA and on Net profit was of 25 and 19 million respectively.

In the rest of activities the impact was lower, with variations in the quarter's production between 5% and 10%, both in Construction activity and Industrial and Mining Services, which has been deemed essential.

EBITDA reached 1,345 million, 17% lower than H1 2019. Not considering Abertis' contribution, EBITDA in the rest of activities was only down by 6.8%.

Likewise, EBIT stood at 859 million and decreased by 21.8%. Not considering Abertis, it fell by 6.7%.

ACS Group sales in H1 2020 accounted for 18,337 million, decreasing by 2.6%, as a consequence of health measures implemented since mid-March in most countries in relation to COVID-19. Specifically, production trend during the second quarter showed 8% decrease with higher incidence in Asia-Pacific and European regions.

Sales in North America accounted for 51% of total, Europe 19%, Australia 16%, Asia 5%, South America 8% and Africa de remaining 1%. Sales in Spain accounted for 13% of total.

By countries, United States, Australia, Spain, Canada, and Germany contributed with 80% of total sales.

Backlog in June 2020 stood at 75,812 million, almost stable year on year despite the commercial activity slowdown due to the pandemic impact.

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