The first-half net profit for Spain’s ACS (ACS.MC) increased by 17% to 385 million euros ($429 million), helped by good performance in the company’s construction divisions and a larger contribution from the toll road unit Abertis.
While Abertis contributed 95 million euros, nearly twice as much as in the first half of 2022, ACS said that its construction businesses’ net profit increased by 25% to 213 million euros.
The massive infrastructure company claimed that Abertis’s success was due to a quick recovery in traffic, new concessions, and an increase in average tolls of 7%.
Separately, ACS announced that it has reached an agreement on a new strategic partnership with Mundys, its Italian partner in Abertis, to finance an investment plan to increase its portfolio of assets under management and support growth at the toll road division.
Without going into any detail, ACS Group Executive Chairman Florentino Perez said in a statement, “We will support the growth of our alliance with Mundys with all of our resources.” The group also stated that Abertis would investigate fresh investment possibilities on international markets.
Vice-chairman of Mundys and chairman of Edizione Alessandro Benetton also stated that they were dedicated to giving Abertis “the resources to start this new season of growth.”
According to ACS, Canada, the United States, Australia, and Spain account for 92% of the company’s activity.
In the first half compared to the previous year, its North American building activity increased by 10.5%.
While sales in the US and Canada totalled 10.3 billion euros, construction sales in the Asia-Pacific area increased by 13.2% to 3.76 billion euros.
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