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| Sacyr Vallehermoso says 2007 profit nearly doubles Spanish construction company Sacyr Vallehermoso (SyV) obtained a net attributable profit of 946.4 million euros in 2007, nearly doubling the result recorded in 2006, i.e. up 74.5%. This profit means that the growth and diversification strategy undertaken by the company enjoys a complete success and places Sacyr Vallehermoso as the most profitable industrial group among its comparables in Spain and Europe. Earnings per share (EPS) has gone in one single year from 1.9 euros to 3.3 euros. The company's present PER is 5.9 times, far below the sector average in Spain and Europe. EBITDA (earnings before interest, tax, depreciation and amortization) was 1,277.4 million euros, up 20% on the previous year. The business activities yielding long-term recurrent income (infrastructure concessions, property rental and services) represent 55.2% of total EBITDA, 3 percentage points more than in 2006, with the long-term concession profile of the SyV group thereby taking root. All of SyV's divisions increased their EBITDA in 2007 between 8% (Vallehermoso) and 30% (Valoriza). Consolidated turnover amounted to 5,759.8 million euros, rising significantly 23%. Worthy of mention under this section is the increase in the business activity of Sacyr (+34%), Itínere (+33.8%), Vallehermoso (+12%) and Valoriza (+24%). By businesses, the group's intense diversification process has led to 73% of turnover having its origin in the construction, concession and services businesses, while only 23% relates to Vallehermoso and 4% to Testa (real property development and rental divisions, respectively), as opposed to the 33% which both businesses represented in the merger of Sacyr and Vallehermoso in 2003. By countries, 78.9% of turnover came from Spain and the remaining 21.1% from other international markets, worthy of mention among which are Portugal (13.8% of the total) and Chile (7.3%). write your comments about the article :: © 2008 Construction News :: home page |