Abertis obtained a net profit of 188 million euros in the first nine months of the year, which represents a drop of 70% compared to the same period of the previous year, due to the impact that the nationalization by Texas (United States) has had on its accounts. United States) of one of its highways.
However, the operational evolution of the concessionaire was positive, increasing its income by 9%, to 4,585 million euros, and its gross operating result (ebitda) by 10%, which was 3,229 million eurosas appears in the income statement of Hochtief, the German construction company through which ACS controls 20% of Abertis, and which is added to its direct participation of another 30% in the highway company.
Abertis has already warned the market that the termination of the contract for the Texas highway SH-288 would mean a net accounting loss of around 418 million euros. Finally, the impact has been 417 million, which is subtracted from the operating profit of 605 million euros obtained between January and September, resulting in a net result of 188 million.
Likewise, Hochtief’s accounts also reflect a negative impact of 22 million euros by Abertis on the German company’s profit, which was 449.9 million euros, 11.6% more, thanks to the positive contribution of the rest of ACS subsidiaries. For example, The American Turner contributed 278 million, the Australian Cimic with 333.9 million and Hochtief’s own business with 29 million.
With all this, it is expected that the negative impact of 22 million euros from Abertis to Hochtief for its 20% participation will also affect the ACS group in proportion to its 50% participation (the other 50% is from the Italian Mundys), although it could be lower when deducting minority interests.
ACS has also already communicated that the impact of the loss of SH-288 on the group’s consolidated net profit would not be significant, since in the first six months of the year It already accumulated a net profit of 416 million euros.
Regarding Hochtief’s entire activity, Its turnover was 23,577 million euros, 7.4% more, and its EBITDA was 1,305 million17.7% higher. New project awards amounted to 32.1 billion, bringing the portfolio to a record of 66 billion euros, 18% more.
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