Graña y Montero S.A.A. (NYSE:GRAM) (BVL:GRAMONC1) (“the Company” or
“Graña y Montero”), a leading Engineering and Construction company,
announced its consolidated results for the second quarter (“2Q2016”)
period ended June 30, 2016. These results have been prepared in
accordance with International Financial Reporting Standards (“IFRS”) and
are stated in nominal Peruvian Nuevos Soles (S/.).
Financial Highlights:
-
The Group achieved Revenues of S/. 2,799.0 MM during 2Q2016, a
25.6% decrease compared to 2Q2015
-
Gross Profit amounted to S/. 306.6 MM in 2Q2016, decreasing 12.9%
compared to 2Q2015
-
EBITDA was S/. 372.5 MM in 2Q2016, higher by 6.2% than the result
obtained in 2Q2015
-
Net Income registered an increase of 162.2%, reaching S/. 104.9 MM
in 2Q2016
-
Backlog amounted to US$ 4,155.1 MM as of 2Q2016 and the recurrent
businesses amounted to US$ 492.8 MM, reaching a total of US$ 4,648.0
MM, equivalent to 2.37x the annual revenues
For a full version of Graña y Montero’s 2Q2016 Earnings Release please
visit: http://investorrelations.granaymontero.com.pe/
Graña y Montero S.A.A.
Founded in 1933, Graña y Montero is the only Peruvian engineering and
construction company listed on the Lima Stock Exchange since 1997 and in
the NYSE since 2013. The Company has participated in the development of
major engineering and construction projects in Peru, including
large-scale, complex projects in the energy, mining, construction and
real estate sectors.
With 83 years of operations, the Company has leveraged its engineering
and construction expertise into complementary lines of business, such as
the development, ownership, operation and maintenance of infrastructure
assets, real estate developments, and the provision of technical
services. The Company has significant investments in infrastructure
concessions.
The Company has also executed several projects outside Perú, and has
acquired three companies in Chile: DSD Construcciones y Montajes, an
engineering and construction company specialized in providing services
to the energy, oil and gas, cellulose and mining sector in Latin
America; Vial y Vives, a construction company specialized in the mining
sector, and CAM, which is specialized in electric services, with
operations in Chile, Peru and Colombia. It recently acquired a company
in Colombia: Morelco S.A. a recognized Colombian company specialized in
electromechanical assemblies, civil works, and services for the oil and
gas and energy industry.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160725006404/en/
Copyright Business Wire 2016
Source: Business Wire
(July 26, 2016 - 1:00 AM EDT)
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