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69,782 +7.0 % BACKLOG (1) Adjusted by FX (Forex) impact (2) EBITDA - PowerPoint PPT Presentation

Jun 01, 2023 •235 likes •385 views

1H18 Key figures Figures in million YoY Var. Like for Like Var. 1 17,777 SALES +2,2 % +10,1 % +8.7 % 1,248 +2.0 % EBITDA +11.9 % 946 +5.1 % EBIT +13.3 % 447 +7.4 % NET PROFIT 1,605 +24.1 % LTM Net Operating Cash Flow - 1,596 mn

  2. 1H18 Key figures Figures in € million YoY Var. Like for Like Var. 1 17,777 SALES +2,2 % +10,1 % +8.7 % 1,248 +2.0 % EBITDA +11.9 % 946 +5.1 % EBIT +13.3 % 447 +7.4 % NET PROFIT 1,605 +24.1 % LTM Net Operating Cash Flow - € 1,596 mn 58 NET DEBT +11.3 % 69,782 +7.0 % BACKLOG (1) Adjusted by FX (Forex) impact (2) EBITDA – Net financial expenses and taxes + dividends received – other operating cash income/expenses + WC variations – Net CAPEX LTM = Last 12 months Gross Operating Cash Flow 1H18 – Results Presentation 2

  3. Sales evolution across activities and core markets GRUPO ACS 6.3 € bn sales + 13.4 % ex FX In € million + 10.1 % 3.5 € bn sales + 9.0 % ex FX Key markets ex F/X 1,358 2.5 € bn sales + 13.4 % 17,777 17,386 + 2.2 % 0.7 € bn sales + 28.6% ex FX 0.5 € bn sales +4,4% 1H18 1H17 CONSTRUCTION INDUSTRIAL SERVICES SERVICES + 10.8 % + 7.7 % ex ex F/X 1,169 F/X + 7.0 % 13,353 189 + 1.9 % 1 13,102 ex F/X 3,679 3,590 + 2.5 % + 6.9 % 754 706 1H17 1H18 1H17 1H18 1H18 1H17 1H18 – Results Presentation 3

  4. Operating results - EBITDA CONSTRUCTION INDUSTRIAL SERVICES SERVICES € million +9.8% ex FX F/X 851 +7.0% ex FX +11.6% ex FX 834 F/X 387 F/X 379 40 36 1H17 1H18 1H17 1H18 1H17 1H18 • • Margin stability accross activities Significant F/X negative impact 1H18 – Results Presentation 4

  5. Net Profit by activities Var. 1H17 1H18 Figures in € million 196 231 +17.7 % Construction Net Profit 209 214 Industrial Services Net Profit +2.5 % 23 17 Service Net Profit (1) -25.1 % (12) (15) Corporation 416 447 Attributable Net Profit +7.4 % (1) Includes the capital gains from SINTAX sale in 1H17. Clece Net Profit grew by 10.2% +13.3 % Ex F/X impact 1H18 – Results Presentation 5

  6. 1H18 Net Debt evolution CF from CAPEX Net Debt Net Debt FFO* bf WC 1H WC SH’s F/X & other & Financial 2017 and CAPEX variation remuneration adjustments 1H18 Investments Seasonality effect *Funds from Operations € 332 mn Reclassification of MasMóvil derivative € 0,45 p/s as ST financial interim investment dividend € 49 mn F/X impact Treasury acq. for complement. € (14) mn dividend Other 245 +11,9% vs 1H17 367 23 58 € (214) mn Net 153 Operating CAPEX € 241 mn disposal of Cash Position SaetaYield 136 € mn 1,015 1,019 € (150) mn Net Ex Project finance Project investments € 100 mn collection from Urbaser sale in 2016 Figures in € million NOTE: € 100mn received from the pending collection from Urbaser sale was already 1H18 – Results Presentation accounted as current financial assets, thus included in the net debt. 6

  7. Strong LTM cash flow generation CF from CAPEX Net Debt Net Debt FFO* bf WC LTM WC SH’s F/X & other & Financial variation remuneration adjustments and CAPEX 1H17 1H18 Investments *Funds from Operations € 332 mn Reclassification of MasMóvil derivative as ST financial investment 1,654 1,779 € (7) mn F/X impact and others € (362) mn Net Operating CAPEX 325 € 255 mn Net 58 Financial/ Project 589 divestments Cash Position 188 +23.2% vs 1H17 107 136 € mn Ex Project finance Figures in € million 1H18 – Results Presentation 7

  8. Backlog breakdown by business areas INDUSTRIAL SERVICES SERVICES CONSTRUCTION + 10.6 % ex FX 2.2 57.9 + 12.9 % ex FX € bn 54.3 + 21.0 % ex FX € bn 0.6 9.5 8.9 2.4 € bn 2.0 € bn € bn € bn 1H17 1H18 1H17 1H18 1H17 1H18 Annual growth adjusted by FX FX impact in € bn 1H18 – Results Presentation 8

  9. Strategic position in solid markets with growth potential Key markets’ backlog as of June 30 th , 2018 # 4 # 5 # 1 # 2 # 3 + 30.0 % ex FX + 3.2 % ex FX 0.5 1.0 22.5 16.4 + 13.1 % + 58.4 % ex FX 7.5 - 2.0 % 0.2 4.4 2.6 SP AIN CANADA UNITED ST A TES AUSTRALIA GERMANY Weight = 77 % 11 % 6 % 4 % 24 % 32 % backlog of total Backlog FX Impact NOTE: figures in billions. Growth adjusted by F/X 1H18 – Results Presentation 9

  10. Strong order intake in North America UNITED STATES - CANADA UNITED STATES Project in consortium with Fluor for Building of the new 1.300 € MN 422 € MN headquarters of the California the construction of the largest bridge in North America crossing Natural Resources Agency in border between Canada and Sacramento (United States) United States. UNITED STATES CANADA Construction of a new 12 story 897 € MN 365 € MN hospital tower on the main campus Construction of the new light of MetroHealth Medical Center in railway line in Montreal Cleveland, Ohio UNITED STATES CANADA 629 € MN Construction of 6.5 km of 292 € MN Construction of the new Finch automated people mover at the West light railway line in Toronto, Los Angeles International Airport. Canada CANADA UNITED STATES Contract for the execution of hydro 200 € MN Project for the construction of the 571 € MN generating station and spillways civil Cincinnati major league soccer workson on the Peace River in stadium northeast British Columbia 1H18 – Results Presentation 10

  11. Abertis transaction in progress Current status of the transaction HOT Counter HOT modified counter-takeover bid Transfer of ABE shares takeover bid Delisting of ABE at € 18,76 ps from HOT to SPV € 18,36 ps Dec-17 May-17 Oct-17 Mar-18 May-18 July-18 Sep-18 Dec-18 ATL takeover bid Sale of HOT Strategic agreement Sale of Cellnex at € 17 ps shares to ATL + HOT 10% Δ K ABE current capital ownership Strategic agreement* 98% 24,1% max 2% as today minorities 50,2% Post acquistions min 95% 20% 30% 50% as of June 30 th 86% as of May 10 th SPV Equity: 7.000 max Takeover bid Structured Debt: 7.750 max 100% Bridge to disposals: 2.200 max *Final structure to be determined 1H18 – Results Presentation 11

  12. Abertis transaction strengthens Grupo ACS balance sheet NET WORTH IMPACT ( € mn) NET DEBT IMPACT ( € mn) + 2,442 597 3,500 ∆ Minorities ∆ Equity 1,845 1,400 2,442 0,45x 5,651 EBITDA 3,209 2,100 0x EBITDA 1,116 58 Net Worth Net Debt HOT sale to Net Worth Acquisition of HOT sale to Net Debt as of Jun-18 as of Jun-18 Proforma Proforma Post-transaction Post-transaction & ∆K 10% HOT NOTE: assuming 100% stake in Abertis and 2H results not considered 1H18 – Results Presentation 12

  13. Conclusions Sales growth 1 Resilient top line performance across activities ex FX + 10.1 % + 2.2 % Net Profit ex FX + 13.3 % 2 Sustainable Net Profit growth + 7.4 % LTM Op. CF Cash Position (ex Project) 3 Robust Operating CF generation Low Net Debt € 136 mn + 24 % CANADA SPAIN UNITED STATES 4 Strong order intake in key markets 8.0 € bn 1.9 € bn 3.1 € bn New orders + 31 % + 158 % + 49 % (1H18 vs 1H17) 5 Consolidation of the integrated business model 2018 TARGET CONFIRMED 1H18 – Results Presentation 13

  14. Legal Disclaimer This document contains forward-looking statements on the intentions. expectations or forecasts of Grupo ACS or its management at the time the document was drawn up and in reference to various matters including. among others. its customer base. its performance. the foreseeable growth of its business lines and its overall turnover. its market share. the results of Grupo ACS and other matters relating to the Group’s activities and current position. These forward-looking statements or forecasts can in some cases be identified by terms such as “expectation” . “anticipation” . “proposal” . “belief” or similar. or their corresponding negatives. or by the very nature of predictions regarding strategies. plans or intentions. Such forward-looking statements or forecasts in no way constitute. by their very nature. guarantees of future performance but are conditional on the risks. uncertainties and other pertinent factors that may result in the eventual consequences differing materially from those contained in said intentions. expectations or forecasts. ACS. Actividades de CONSTRUCTION y SERVICES. S.A. does not undertake to publicly report on the outcome of any revision it makes of these statements to adapt them to circumstances or facts occurring subsequent to this presentation including. among others. changes in the business of the company. in its strategy for developing this business or any other possible unforeseen occurrence. The points contained in this disclaimer must be taken fully into account by all persons or entities obliged to take decisions or to draw up or to publish opinions on securities issued by Grupo ACS and. in particular. by the analysts and investors reading this document. All the aforesaid persons are invited to consult the public documentation and information that Grupo ACS reports to or files with the bodies responsible for supervising the main securities markets and. in particular. with the National Securities Market Commission (CNMV in its Spanish initials). This document contains financial information drawn up in accordance with International Financial Reporting Standards (IFRS). The information has not been audited. with the consequence that it is not definitive information and is thus subject to possible changes in the future.

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