Sales up at ACS

Spanish contractor ACS reported first half sales of €19.1 billion, up 1.5% compared to last year thanks to growth in its international activity.

The company – which owns contractor Hochtief – said international business represented 84.6% of its sales, with 39% generated in Asia Pacific, 34% in the Americas, 26% in Europe (of which 15% was generated in Spain).

Net profit totalled €357 million for the first six months of the year – a figure which ACS said could not be compared with the net loss of €1.2 billion it reported for the same period in 2012. Last year’s figure was hit by large writedowns on the contractor’s investment in energy company Iberdrola.

Sales in construction amounted to €14.6 billion, up 1.8% year-on-year. International sales accounted for €13.8 billion, representing 95% of the total. However, net profit from the construction unit dropped 13% year-on-year to €120 million, a decrease that ACS said was down to falling activity in Spain.

The company’s construction backlog stood at €53.7 billion at the end of June, down 14% compared to the same point in 2012. ACS said this was due to its sale of Thiess Waste Management last year. International business represented 94% of the total.