5 November 2019Spain
  • Backlog (+9%) and Order Intake (+7%), both above revenue growth (+5%)
  • Revenue up +6% in local currency 9M19, with both T&D and Minsait posting growth. By geographies, it is worth noting America (+15% in local currency)
  • Organic revenues (excluding the inorganic contribution from ACS and the FX impact) grew +5% in 9M19 and +4% in 3Q19
  • EBITDA increased by +22% in 9M19 (+7% excluding the IFRS 16 impact)
  • EBIT up +10% in 9M19, boosted by the improvement in profitability of Minsait (3.1% EBIT margin) and despite the lower contribution from the Election Business
  • Net profit improved +18% vs 9M18
  • FCF almost flat in 3Q19 (€-1m) vs (+€15m) in 3Q18, backed by working capital normalization in the quarter
Results
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