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Cimic Group announces 2017 full year financial Results

  •     2017 NPAT of $702m, up 21%, at top end of guidance
  •     Cash flows from operating activities1 of $1.5bn up 27%; EBITDA conversion rate 101%
  •     Robust financial position with net cash of $910m, up more than $500m
  •     Positive revenue2 trend, up 24% to $13.4bn
  •     WIH3 of $36bn; new work4 of $18.4bn; extensive pipeline
  •     2018 NPAT guidance of $720m to $780m, up 3% to 11%
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Cimic's Thiess awarded BMA Mining Service Contracts

Cimic Group’s global mining services provider, Thiess, has secured two contracts with a combined revenue of $440 million to provide mining services at BHP Billiton Mitsubishi Alliance’s (BMA) Caval Ridge and Peak Downs coal mines in Queensland’s Bowen Basin, Australia.

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Q1: Hochtief increases Net Profit by 40%

  • EUR 93 million operational net profit (+30% year on year), EUR 88 million nominal net profit (+40%)
    • Operational PBT margin at 3.8%, +20 bps yoy
  • Over EUR 100 million year on year improved net cash from op. activities
    • EBITDA cash conversion rate remains very high at 108% in last twelve months
    • Further reduction in seasonally typical cash outflow
  • EUR 341 million net cash position significantly positive (+ EUR 317 million yoy)
    • Net cash would stand at approximately EUR 1 billion, if adjusted for net investments and dividends in the last twelve months
  • EUR 45 billion order backlog (+23% yoy)
    • Order backlog at highest level since transformation initiated; +13% yoy excluding UGL
    • All divisions show double-digit yoy increases in order backlog
    • New orders rose to EUR 7.4 billion (+18% yoy)
  • First rating for the Group: BBB investment grade by Standard & Poor’s
  • Guidance confirmed: Operational net profit for 2017 of EUR 410–450 million (+13% to 25% yoy)
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