ACS became the majority stakeholder of Hochtief in June.
ACS Group’s net profit rose by 20.5% in the first half of the year to €604m. Turnover amounted to €9.473bn, 26.5% more than a year ago. International sales were €4.977bn, representing an increase of 117.3% and accounting for 52.5% of total sales.
Gross operating profit grew by 22.5% to €897m, with a 9.5% margin over sales while perating profit rose by 17.2% to €650m, with a 6.9% margin over sales. Recurring net profit rose by 14.2% to €541m.
The total works portfolio at the end of the first half of 2011 amounted to €64.745bn, with a growth of the international portfolio by 352%. Itt now represents 78.7% of the total portfolio.
The construction area achieved sales of €5.009bn, 59.6% more than in 2010. Hochtief invoiced €10.375bn in the first half of the year, 8.9% more than in 2010. All of Hochtief’s business is located outside ACS's home terrritory of Spain and is mainly in Australia, the US, Canada and Germany.
Among the Group’s most important awards in the first half of 2011 are the mining contracts in Australia for the extraction of coal from the Burton and Poitrel mines, worth more than €1.1bn, the €650m construction of the Royal Adelaide Hospital, South Island railway construction and the contract for the design and construction of the tunnel for the SR-99 road in Seattle, USA.