Grupo Graña y Montero Releases Financial Results as of 2019
2020年1月31日 - 2:42PM
ビジネスワイヤ(英語)
- The accounting provisions due to (i) the impairment of the
investment in Gasoducto Sur Peruano (GSP) and (ii) the additional
civil compensation generated by the signing of the preliminary Plea
Agreement generate a loss of US$ 265 million in Grupo Graña y
Montero.
- The provisions mentioned above did not impact the Company's
cash flow, nor the execution of its projects, reflecting a
reduction in the Company's equity, which equals the stock market
value.
- EBITDA at year-end 2019, a key cash indicator, reached a total
of US$ 193 million.
- The estimate backlog plus recurrent businesses of the Company
reached US$ 2,094 million at the end of 2019.
Grupo Graña y Montero (NYSE:GRAM) (BVL:GRAMONC1) reported today
unaudited figures for 2019. The results reflect a loss of US$ 265
million, mainly explained by the impairment of GSP account
receivable and investment, the inclusion of an additional amount of
civil compensation as a result of the preliminary plea agreement,
and the provision for the estimate of the possible exposure of the
2017 lawsuit in New York (Class Action). Without these provisions,
the Company net income would have been US$ 4.5 million.
Most of these provisions are accounting effects that do not
affect the Company's cash flow or the progress of the projects of
Grupo Graña y Montero. EBITDA for 2019, a key cash flow indicator,
reached a total of US$193 million.
Due to the trust placed in the Company by customers, business
partners, suppliers and employees, the amount of new contracts
awarded during 2019 was US$ 977 million. This resulted in a total
backlog plus recurrent businesses of US$ 2,094 million,
representing approximately 1.7 years of sales for the Company.
During 2019, Grupo Graña y Montero continued with its plan to
reduce its financial debt, achieving an 18% decrease compared to
the end of 2018. Financial debt decreased from US$ 633 million to
US$ 519 million, in line with the objectives set.
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version on businesswire.com: https://www.businesswire.com/news/home/20200130005939/en/
Paola Pastor Head of Investor Relations paola.pastor@gym.com.pe
+51 1 213 6573
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