The ACS Group forecasts a growth in net profit of around 30% this year

The ACS Group forecasts a growth in net profit of around 30% this year

Florentino Pérez has highlighted that “we are in the process of transforming the group, concentrating activities in the areas of Construction and Concessions”.

Image of the ACS 2021 shareholders' meeting.

The chairman of the ACS Group, Florentino Pérez, stated during his speech at the general meeting of shareholders that he foresees a growth in the company’s net profit for 2021 of around 30%.

“The existing scenario allows us be optimistic and trust in which the economic activity of the countries returns to the levels prior to the pandemic”, he declared at an event that, due to the current circumstances, had to be held electronically.

To reach this figure, one of the keys is for the recovery of mobility and the consequent improvement in traffic on the different motorways. This will greatly affect Abertis accounts. If this trend is confirmed, we expect an increase in its profitability“, Florentino Pérez has indicated.

Forward with Autostrade

Florenitno Pérez has also confirmed his interest in acquiring Autostrade perl’Italia (ASPI), “along with other possible partners and provided that he has the support of the Italian Government”.

Its combination with Abertis, where Atlantia has 50%, would allow to create aglobal group of infrastructure concessions that could face, with better guarantees, the new investment plans that the various Western governments are preparing, decisive for the economic and social recovery after the pandemic”, explained the president.

However, the president of the group has acknowledged, “ACS is also studying the acquisition of other highway concessions, alternatives to ASPI“. “This market is very dynamic and offers many opportunities”, he pointed out during his speech.

sustainable investments

The pandemic has accelerated major changes that have been taking place and the ACS Group is in an unbeatable position to face them and take advantage of them to grow in all the markets where it is present.

“We are going to continue investing in the future of ACS, betting heavily on sustainable investments and the infrastructure market“, declared Florentino Pérez.

“We are convinced that our ability to create value has to be directed towards the development of infrastructures in concession modellike highways and the promotion of renewable energy assets, such as wind farms or photovoltaic plants, in this case through our partnership with Vinci; sectors and activities where our extensive experience and the resources we have can be used more efficiently”, he explained to the shareholders.

The company has identified a set of potential “greenfield” projects for infrastructure concessions, with a total investment volume expected to be around 250,000 million euros to be developed in the coming years in the United States, Canada, Australia and Europe.

These three markets are fundamental to the group’s strategy and in each of them ACS shows its strength every day with the projects it carries out and the contracts it is awarded.

For example, billing for american companies of the group, led by Turner and Dragados USA, accumulate a annual turnover of more than 20,000 million dollars. This, the president pointed out, “gives us a relevant competitive position to face the expansion and infrastructure development plans that the federal government plans to promote”.

Also in Australia our presence in the Construction activity is outstanding; Cimic maintains an important position with good growth prospects. Likewise in Europethe different companies of the Group are seeing growth in demand with new projects, especially in Spain, Germany, the United Kingdom and Poland.

News in update

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Ellsworth Weber