ACS, Actividades de Construcción y Servicios, S.A. (ACSAY) Q4 2025 Earnings Call Transcript

SA Transcripts158.65K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call ACS, Actividades de Construcción y Servicios, S.A. (ACSAY) Q4 2025 Earnings Call February 26, 2026 6:00 AM EST Company Participants Juan Cases - CEO & DirectorEmilio Grande - Chief Financial Officer Conference Call Participants Luis Prieto - Kepler Cheuvreux, Research DivisionÃlvaro Navarro - Bestinver Sociedad De Valores, S.A., Research Division Presentation Juan CasesCEO & Director Good morning, everyone, and thank you for attending the 2025 Results Call of ACS Group. I'm joined by our Corporate General Manager, Angel Garcia Altozano; and our Chief Financial Officer, Emilio Grande. As usual, after the presentation, we'll host a Q&A session to provide you with any clarification that you may need. Those who are connected via our website can ask their questions through the established channel. So let's start with the first slide of our presentation. In 2025, the group delivered very strong operational and financial results with solid growth in sales, backlog and net profit, backed by robust cash flow generation. We're making solid progress in executing our strategy, increasingly leveraging our global footprint and engineering expertise to drive sustainable growth. We continue to actively pursue highly attractive equity investments opportunities across both traditional and next-generation markets, generating long-term value for all our stakeholders. Let me give another view of the key highlights for the period. Ordinary net profit reached EUR 857 million, up 25.3% or 32.4% FX adjusted, exceeding our top end of our revised guidance. On a reported basis, net profit stood at EUR 950 million. Sales and EBITDA were up by 20% and 20%, respectively, driven by the robust momentum across all our segments. Operating margins improved as well across the group. Net operating cash flow reached EUR 2.2 billion in the last 12 months. This is up EUR 320 million adjusted for factoring variations, highlighting the quality of our profit growth.