The Graña y Montero Group’s Net Income in 1Q2017 Reached s/. 79.1 MM
April 28 2017 - 4:18PM
Business Wire
Graña y Montero S.A.A. (NYSE: GRAM) (BVL: GRAMONC1) (“the
Company” or “Graña y Montero”) a leading Engineering and
Construction company, announced that its net income in the first
quarter (“1Q2017”), reached s/. 79.1 MM, which represents a 11.6%
increase with respect to 1Q2016.
Backlog and recurrent businesses reached US$ 3,531 MM,
equivalent to 1.95x the annual revenues.
Consolidated debt as of 1Q2017 reached US$ 979 MM, of which US$
383 MM correspond to working capital debt, US$ 348.6 MM to project
finance and US$ 247.3 MM to the debt generated by the Southern Gas
Pipeline contract. The debt assumed by the guarantee issued by
CHUBB for US$ 52.5 MM is added to this total.
It is important to note that with the sale of assets and the
company cash, US$ 109 MM of the debt related to the Southern Gas
Pipeline will have been repaid by the end of April, from its peak
in December 2016.
The non-strategic assets sale amounts to US$ 108 MM to date. The
assets sold are Cuartel San Martín, Red Eagle Mining Corporation
(included in the results of 1Q2017) and Companía Operadora de Gas
del Amazonas (COGA) and PRINSUR (which will be included in the
financial statements in April).
It is important to note that the assets sale has generated
significant profits for the business.
For a full version of Graña y Montero’s 1Q2017 Earnings Release
please visit: http://investorrelations.granaymontero.com.pe/
About Graña y Montero S.A.A.
Graña y Montero is the largest and most important Engineering
and Infrastructure Company in Peru. It has 26 companies which
operate in 5 countries in Latin America and has more than 28,000
employees. The Graña y Montero Group has always solved the needs of
its clients beyond business in order to create wellbeing for
society. It has been listed on the Lima Stock Exchange since 1997
and on the New York Stock Exchange since 2013.
To find out more, please visit www.granaymontero.com.pe.
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version on businesswire.com: http://www.businesswire.com/news/home/20170428005998/en/
Graña y Montero S.A.A.Belén Masson, 511-213-6565 Ext.
6453Investor Relations
Assistantbelen.masson@gym.com.perelacion.inversionistas@gym.com.pehttp://investorrelations.granaymontero.com.pe/
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