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| ACS posts 105 percent profit rise  Spanish building giant ACS Group in 2006 attained a profit of € 1,250 million, a historical high and 105% more than in 2005. This includes the sale of the holding in Urbis, which generated a capital gain after taxes of € 344 million. The ordinary profit after taxes rose by 37% last year to a total € 835 million, thanks to the favourable evolution of all the businesses in operation, all of which recorded double digit growth rates in terms of income and net profit, and the contribution of the subsidiaries. ACS Group's turnover in 2006 reached 14,067 million euros, a 16% increase over the previous year. The Group's international sales amounted to 2,281 million euros, representing 16% of overall sales.The operating profit developed solidly last year. EBITDA rose by 16% to €1,270 million, representing a 9% sales margin. Meanwhile, EBIT totalled €971.6 million, an 18.9% increase, pushing up the sales margin to 6.9%. The net profit contributed in 2006 by the listed subsidiaries, after deducting financial charges, amounted to € 231.9 million, representing a 194.9% increase, thanks to the earnings of these companies and the increase in the stake in Unión Fenosa in 2006. If this had been done in 2006, ACS turnover would have exceeded € 20,100 and EBITDA would have amounted to over € 3,100 million. write your comments about the article :: © 2007 Construction News :: home page |