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| ACS reports first nine months 2006 results ACS Group achieved net profits of 607.5 million euros up to the third quarter of 2006, 38% higher than in the same period of 2005. Business volume totaled 10.476 billion euros, amounting to an increase of 17.8%, with all operations growing at double-digit rates. International sales accounted for 16% of total sales, or 1.691 billion euros. Gross revenue before taxes (EBITDA) increased by 17.8%, up to 925.2 million euros, which represents a margin over sales of 8.8%. Moreover, net operating profits (EBIT) were 710.6 million euros, showing growth of 19.1% and improving the margin over sales by 6.8%. Net earnings contributed by equity holdings in listed firms, following deductions of financial expenses and taxes for total investments, were 173.8 million euros, which represents an increase of 171%, owing to the good results achieved by those companies and the addition of Union Fenosa to the consolidated accounts of the ACS Group. The before-tax earnings of the group up to September 2006 totaled 784.2 million euros, showing an increase of 31.1%, in spite of the increase of effective financial taxes to 31.7%, slightly above the 28% of the previous year. write your comments about the article :: © 2006 Construction News :: home page |