Spain’s new CNMV board, headed up by Sebastián Albella, has embarked on a big reform drive, implementing a whole range of initiatives, to make the Spanish financial market more trustworthy.
ACS’ subsidiary Cobra has won a contract worth 126 million euros to build various electricity transmission lines in Brazil, boosting its portfolio of these projects in that country to 3 billion euros.
The joint venture formed by Leandlease and Turner (subsidiary of ACS) has been awarded a project to extend the Jacob K. Javits convention centre (New York) for a total of 1.5 billion dollars (approx. 1.4 billion euros).
Citi | ACS’ first half 2016 results were broadly in line with consensus estimates, although net income came in slightly lower at €388 million euros vs consensus of €411 million (-5%).
Fernando Rodríguez | Barely 10% of Spain’s 6 listed constructors’ business is generated at home. But problems like the recent cancellation of the real estate plan included in Madrid’s Operacion Chamartin, due to the decision of the city council which is close to Podemos, are all contributing to maintaining the generic perception that they are “Spanish companies” subject to political risk.
ACF | In 2014, ACS was the building company which won the most contracts worldwide.
The Corner | April 1, 2015 | Public works contracts grew by €2.88 billion (25%) in 2015, bucking a negative trend that had been prevalent for the previous seven years.
MADRID | By Jaime Santisteban | Time for EU peripherals’ sovereign debt auctions: Spain, Italy, Ireland and most importantly, Greece, which is back on the market after 4 years. Note that the successful Greek sale pushed down the yields of its neighbors. Besides, Qatar’s sovereign wealth fund has become shareholder of Colonial, following the steps of big finance firms like Fidelity that recently renewed their bet for Spanish listed companies and volatile real estate. Colonial rose by 14.3 % at the closing bell.
ESSEN | Consolidated net profit amounted to EUR 126.2 million in the first half of 2013. In the prior-year period, substantial impacts on earnings had resulted in a consolidated net loss of EUR 50.6 million.
Consortium around Hochtief to upgrade and extend airport infrastructure by 2014. The contract has been valued at €79,5 million.