News / ICA increases revenues and EBITDA in 2012

ICA increases revenues and EBITDA in 2012

🕔 February 28, 2013

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ICA delivered solid results in the fourth quarter and for full the year 2012. Consolidated revenue rose 18% for the year. All business segments reported growth in the year. For the year 2012, Adjusted EBITDA rose 13% to Ps. 7,015 million ($553 million), with an Adjusted EBITDA margin of 14.7%.

Earnings per share decreased 17% to Ps. 1.95 ($0.15) during the year. The reduction principally reflected the non-recurring gains on sale of the Corredor Sur tollroad in Panama and two PPP highways during 2011. Construction backlog at December 31, 2012 rose to Ps. 42,238 million ($3,330 million), an increase of 20% as compared to December 31, 2011.

ICA recorded significant operational and financing accomplishments in 4Q12, including (i) the delivery of the two turbines of the La Yesca hydroelectric project, with the corresponding payment for more than US$ one billion; (ii) start of operations of three concessioned highways and two social infrastructure projects; and (iii) the strategic partnership with leading homebuilder Servicios Corporativos Javer, S.A.P.I., ("Javer"). This transaction confirms ICA's concentration in its core infrastructure development and construction businesses. During 2012, ICA carried out investments totaling Ps. 10,990 million ($866 million) in projects in Mexico and abroad.

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