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| ACS accounts for a net profit Sales in 2014 accounted for 34,881 euro million, representing a decrease of a 0.8% compared to 2013. Not considering the impact of the exchange rates and the changes of perimeter sales would have decreased by 1.8%. The international activity of the Group accounts for 84.0% of the total. Sales by geographical areas demonstrate the diversification of the income sources of the Group, where North America weights 34% of sales, Europe a 26%, Australia a 25%, Asia a 10%, South America a 5% and Africa 1%. Spain represents 16% of the total sales of ACS. Total backlog by the end of 2014 accounted for 63,320 euro million, with a geographical distribution similar to that of the sales. Grupo ACS EBITDA accounted for 2,466 euro million, impacted by the perimeter variations, the exchange rate and the creation of a mining Fleet Company in Australia (FleetCo) that includes the operating assets related to Mining, on which the financial leasing has been substituted by operating leasing. In comparable terms, eliminating all these effects EBITDA of the Group would have decreased by 3.9%, mainly because of the operating, financial and commercial restructuring in HOCHTIEF Europe and in Leighton. EBIT grew by 3.1% in comparable terms, once adjusted by the aforementioned impacts. Net profit accounts for 717 euro Million, a 2.2% ahead of the figure accounted in 2013. In comparable terms grows by 4.3%. By areas of activity, Construction net profit grows by 24.4%, Environment by 21.6%, and Industrial Services net profit grows by 1.6%. Financial Situation Net debt of Grupo ACS accounts for 3,722 euro million, a 2.3% below than in 2013 and 60% lower than the figure accounted in 2011. Net debt to EBITDA ratio stand at 1.5x. To this debt reduction contributes the disposals in the last year, which accounted for 2,623 euro million. Among these are the sale of John Holland and Leighton Services, the sale of a portion of the Real Estate business in Germany, the disposal of several concessions in Iridium and the redemption of Iberdrola exchangeable bonds. Investments in 2014 accounted for 2,310 euro million and include, additional to the 859 euro million to increase the stake in HOCHTIEF and Leighton, investments in machinery and equipment for 777 euro million, as well as the acquisition of two construction companies in the US and the acquisition of a 25% of Clece. write your comments about the article :: © 2015 Construction News :: home page |