Graña y Montero S.A.A. (NYSE: GRAM) (BVL: GRAMONC1) (“the Company” or “Graña y Montero”) a leading Engineering and Construction company, announced its consolidated results for the first quarter (“1Q2014”) period ended March 31, 2014. These results have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are stated in nominal Peruvian Nuevos Soles (S/.). Financial Highlights:
- The Group achieved Revenues of S/. 1,522.1 MM in the first quarter of 2014, a 20.0% growth compared to the same period in 2013
- Gross Profit reached S/. 227.2 MM in the 1Q2014, increasing 14.0% compared to 1Q2013
- EBITDA was S/.218.8 MM in the first quarter of 2014, higher by 0.1% than the result obtained in 1Q2013
- Net Income was S/. 71.1 MM in 1Q2014, representing an increase of 11.0% compared to the same period in 2013
- Backlog amounted to US$ 3,988 MM as of 1Q2014, similar to yearend 2013 figures, and equivalent to 1.8x the annual revenues
The Company has also executed several projects outside Perú, and has acquired three companies in Chile: DSD Construcciones y Montajes, an engineering and construction company specialized in providing services to the energy, oil and gas, cellulose and mining sector in Chile and Latin America; Vial y Vives, a construction company specialized in the mining sector, and CAM, which is specialized in electric services, with operations in Chile, Peru and Colombia.