Annual Report of ACS Group - Grupo ACS

Directors’ report for the
Consolidated Group for 2010
1.02. Consolidated income statement of the ACS Group
Consolidated Income Statement 2009 % 2010 % Var. 10/09
Million of euros
Net Sales 15,387.4 100.0% 15,379.7 100.0% 0.0%
Other revenues 389.1 2.5% 356.3 2.3% -8.4%
Total Income 15,776.5 102.5% 15,736.0 102.3% -0.3%
Operating expenses (10,568.9) (68.7%) (10,194.9) (66.3%) -3.5%
Personnel expenses (3,778.3) (24.6%) (4,035.9) (26.2%) +6.8%
Operating Cash Flow (EBITDA) 1,429.3 9.3% 1,505.2 9.8% +5.3%
Fixed assets depreciation (343.2) (2.2%) (404.7) (2.6%) +17.9%
Current assets provisions (12.1) (0.1%) (1.3) (0.0%) n.a.
Ordinary Operating Profi t (EBIT) 1,073.9 7.0% 1,099.3 7.1% +2.4%
Fixed assets depreciation 0.3 0.0% (18.2) (0.1%) n.a.
Other operating results (39.5) (0.3%) (4.1) (0.0%) n.a.
Operating Profi t 1,034.8 6.7% 1,077.0 7.0% +4.1%
Financial income 377.9 2.5% 492.9 3.2% +30.4%
Financial expenses (661.0) (4.3%) (808.5) (5.3%) +22.3%
Ordinary Financial Result (283.1) (1.8%) (315.6) (2.1%) +11.5%
Foreign exchange Results (3.7) (0.0%) 25.2 0.2% n.a.
Impairment non current assets results (2.3) (0.0%) (0.5) (0.0%) n.a.
Results on non current assets disposals 22.8 0.1% 536.2 3.5% n.a.
Net Financial Result (266.2) (1.7%) 245.3 1.6% -192.1%
Results on equity method 212.7 1.4% 222.2 1.4% +4.5%
Ordinary income of continued operations 981.2 6.4% 1,544.5 10.0% +57.4%
Corporate income tax (117.5) (0.8%) (233.0) (1.5%) +98.3%
Profi t after taxes of the continued operations 863.7 5.6% 1,311.5 8.5% +51.8%
Profi t after taxes of the discontinued operations 1,113.0 7.2% 43.2 0.3% n.a.
Consolidated Result 1,976.7 12.8% 1,354.8 8.8% -31.5%
Minority interest (30.5) (0.2%) (42.2) (0.3%) +38.3%
Net Profi t Attributable to the Parent Company 1,946.2 12.6% 1,312.6 8.5% -32.6%
06
ANNUAL REPORT 2010
ACS GROUP