checkAd

    DGAP-News  738  0 Kommentare Empresas ICA Announces Unaudited Second Quarter 2014 Results


    DGAP-News: Empresas ICA, S.A.B. de C.V. /
    Empresas ICA Announces Unaudited Second Quarter 2014 Results

    29.07.2014 / 00:51

    ---------------------------------------------------------------------

    MEXICO CITY, 2014-07-29 00:51 CEST (GLOBE NEWSWIRE) --
    Empresas ICA, S.A.B. de C.V. (BMV:ICA) (NYSE:ICA), the largest infrastructure
    and construction company in Mexico, announced today its unaudited results for
    the second quarter of 2014, which have been prepared in accordance with
    International Financial Reporting Standards.

    The results of the second quarter of 2013 have been restated in accordance with
    IFRS 5, 'Non-current Assets Held for Sale and Discontinued Operations,' as a
    result of the strategic partnership for social infrastructure projects
    announced on January 22, 2014 between ICA and CGL.

    Summary

    The results of the second quarter of 2014 show a significant increase in
    revenues, principally as the result of growth in the Construction segment. This
    growth includes the recent acquisition of the Facchina Construction Group (FCG)
    in the United States as well as the execution of existing contracts. The
    Concessions segment continues to strengthen its operational indicators, while
    Airports segment continued to contribute to growth.

    During the first six months of 2014, ICA delivered sustained growth in the
    three principal business segments. Consolidated revenues grew 21%, while
    Adjusted EBITDA increased 26% to Ps. 3,126 million, with an Adjusted EBITDA
    margin of 18.3%, in line with the Company's outlook for the full year.
    Construction showed a significant rebound in both revenues and Adjusted EBITDA
    margin. The Concessions segment reflected the growth of the operating
    concessioned projects. The Airports segment delivered continued growth in both
    aeronautical and non-aeronautical revenues. ICA's share in the net income of
    non-consolidated affiliates and joint ventures reflected good operating
    performance by these businesses.

    ICA also placed US$ 700 million in senior notes due 2024. The proceeds were
    used to prepay US$ 200 million in notes due 2017 and pay short-term Corporate
    and Construction segment debt, improving significantly the Company's debt
    maturity profile.

    ICA's maturing portfolio of assets and its interest in affiliated companies and
    joint ventures delivered a solid performance in the first half of 2014, and the
    Company expects this performance to continue.



    Consolidated Results 6 months
    Ps. million 2Q13 2Q14 % Chg 2013 2014 % Chg
    Seite 1 von 4


    EQS Group AG
    0 Follower
    Autor folgen

    Verfasst von EQS Group AG
    DGAP-News Empresas ICA Announces Unaudited Second Quarter 2014 Results DGAP-News: Empresas ICA, S.A.B. de C.V. / Empresas ICA Announces Unaudited Second Quarter 2014 Results 29.07.2014 / 00:51 --------------------------------------------------------------------- MEXICO CITY, 2014-07-29 00:51 CEST (GLOBE NEWSWIRE) -- …