Abertis made a net profit of 188 million euros over the first nine months of the year, which represents a drop 70% compared to the same period of the previous year, due to the impact that nationalization by Texas –USA– from one of its highways.
However, the operational evolution of the dealership has been positive, increasing 9% of your incometo the tune of 4,585 million euros, and 10% of its gross operating profit -Ebitda-, which amounts to 3,229 million euros, as shown in the income statement of Hochtiefthe German construction company through which ACS controls 20% of Abertisand which is added to its direct participation of an additional 30% in the road company.
Abertis has already warned the market that the termination of the contract of Texas highway SH-288 This would mean a net accounting loss of around €418 million. Finally, the the impact was 417 millionwhich are subtracted from the operating profit of 605 million euros obtained between January and September, which gives a net result of 188 million.
Likewise, the accounts of Hochtief They also reflect a negative impact of 22 million euros from Abertis to the profit of the German company, which amounted to 449.9 million euros, or 11.6% more, thanks to the positive contribution of the rest of the subsidiaries of ACS.
Hochtief and Turner
For example, the American Turner contributed 278 million, the Australian Cimic with 333.9 million and Hochtief’s own company with 29 million.
With all this, it is expected that the negative impact of 22 million euros from Abertis to Hochtief for its 20% stake will also affect the ACS group in proportion to its 50% stake – the remaining 50% comes from of the Italian Mundys -, although it could be lower by deducting minority interests.
ACS has also already indicated that the impact of the loss of the SH-288 on the group’s consolidated net profit would not be significant, since in the first six months of the year it has already accumulated a net profit of 416 million euros.
Concerning the entire activity of Hochtiefher billing was from 23,577 million euros7.4% more, and its Ebitda of 1,305 million, up 17.7%. New projects awarded amounted to 32.1 billion, bringing the portfolio to a record 66 billion euros, or 18% more.
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