ACS obtained a profit of 668 million euros in 2022, 66% more than in the previous year, not counting the sale of its industrial services division to Vinci, which in 2021 brought capital gains of 2,900 million euros. If this extraordinary is taken into account, the benefit would have fallen by 78%.

During the past year, ACS repeated the pattern of other large Spanish construction companies: portfolio at record levels, less dependence on Spain and commitment to the United States. It still has no debt, although the latest acquisitions last year significantly reduced its cash position.

The group already obtains 62% of its income in North America, a long way from Spain, where it barely enters 6% of the total. Last year it was awarded an electric car battery plant for Honda and LG, in addition to the construction of the Maryland light rail or the expansion of a highway in Texas, in addition to other contracts.

Of its project portfolio, which is at record levels after increasing by 8% last year, up to 68,996 million euros, 53% corresponds to North America, thanks in part to the infrastructure renewal plans of the Biden Administration .

ACS’s total revenues increased by 20.8%, to 33,615 million euros, of which most, 31,433 million, correspond to the construction business. The sales of Abertis, in which ACS takes the equivalent of its 50% shareholding, increased by 5.1%, up to 5,102 million, while those of services amounted to 1,819 million, 10% more.

The two main sources of profit for the group are construction and concessions. Profits from the construction business were 350 million euros, 28% more, compared to 194 million from the concessions, 16% more. On the other hand, the result of services fell by 6.4%, up to 27 million.

ACS has no debt, but a positive cash position. However, last year it was reduced significantly, from 2,009 million euros to 224 million, after having invested 985 million euros in the purchase of 22% of the Australian Cimic and having bought 15% in another of its large subsidiaries, Hochtief, for 604 million.

Unlike other construction companies, its commitment to concessions is not as determined. Apart from Abertis, its subsidiary Iridium obtained a profit of 51 million euros and adds a portfolio of 48 assets, the result of investments of 1,600 million euros.