GRAÑA Y MONTERO. Conference Call. 4Q 2015 Results Presentation

Transcription

1 GRAÑA Y MONTERO Conference Call February 01, 2016

2 Financial Discussion Performance of Financial Results Financial Performance 2

3 Financial Results Overview The Group achieved Revenues of S/. 7,832.4 MM during 2015, a 11.8% growth compared to 2014 Gross Profit amounted to S/ MM in 2015, decreasing 26.1% compared to 2014 EBITDA was S/ MM in 2015, lower by 14.1% than the result obtained in 2014 Net Income registered a decrease of 70.3%, reaching S/ MM in 2015 The fourth quarter shows a recovery after three quarters affected by the recognition of losses from Inmaculada Project REVENUES BY QUARTER (S/.MM) EBITDA BY QUARTER (S/.MM) NET INCOME BY QUARTER (S/.MM) 2,110 1,703 2,061 1,854 2, Q14 1Q15 2Q15 3Q15 4Q15 4Q14 1Q15 2Q15 3Q15 4Q15 4Q14 1Q15 2Q15 3Q15 4Q

4 Backlog + Recurrent Businesses Backlog amounted to US$ 4,037.8 million as of 2015 and the recurrent businesses amounted to US$ million, reaching a total of US$ 4,486.0 million, equivalent to 1.95x the annual revenues CONSOLIDATED BACKLOG Consolidated Backlog (USMM) and Recurrent Businesses (US$ MM) 5,000 4,000 3,000 2,000 1, , , , ,066 4, Q'14 1Q'15 2Q'15 3Q'15 4Q'15 Backlog Recurrent Businesses Backlog + Recurrent Businesses / Revenues

5 Backlog + Recurrent Businesses ( ) Backlog by End-Market Backlog by Country 4% 1% 14% 26% 2% 14% 10% 7% 3% 6% 28% 3% 16% 9% 21% 36% Mining Projects Mining Services Oil and Gas Electricity Water and sewage Real Estate Transport Others 7% 4% 2% 15% 10% 2%1% 72% 87% Peru Chile Colombia Panamá Brasil & Guyana Bolivia & Ecuador Public/Private Construction/ Non- Construction 5% 14% 3% 20% 36% 31% 77% 64% 81% Private Public Concessions 69% Non- Construction Construction 5

6 Investments Total CAPEX as of 2015 amounted to US$ million (S/ million), mainly oriented to: 1. E&C: US$ 36.4 million corresponds to the purchase and renewal of machinery and equipment of GyM and Stracon GyM. 2. Infrastructure: US$ 72.5 million mainly for investments in GMP and the Norvial toll road CAPEX by Business Segment 2015 Engineering & Construction 13% 3. Real Estate: US$ 12.1 million mainly for Alameda de Ancón Project as well as for other projects. Others 49% Infrastructure 26% 4. Technical Services: US$ 19.3 million mainly for investments in GMD and CAM 5. The remaining of investment corresponds to the contributions to the Southern Gas Pipeline investment for US$ 117 MM, as well as the acquisition of Adexus. Technical Services 7% Real Estate 4% 6

7 Composition of Indebtedness Debt (US$ Thousands) ) Q2015 2Q2015 3Q2015 4Q2015 Working Capital + Leasing 361, , , , ,550 Project Finance 224, , , , ,936 GSP Contribution Financing ,113 Total 586, , , , ,599 EBITDA - LTM (US$ Thousands) Q2015 2Q2015 3Q2015 4Q2015 E&C + Real Estate + Technical Services 202, , , , ,167 Infrastructure 103,382 95,020 96,992 95,521 87,210 Total 306, , , , ,376 Ratios (US$ Thousands) Q2015 2Q2015 3Q2015 4Q2015 Debt/Ebitda (E&C + Real Estate + Technical Services) Debt/Ebitda (Infrastructure) Consolidated Debt/Ebitda

8 Indebtedness Maturity of Gross Debt Less than Between 1 Between 2 More than 1 year and 2 years and 5 years 5 years Total Other loans 1,082, , ,624-1,480,071 Leasing 145, ,300 37,016 9, ,285 Ferrovías & Norvial Bond Issue 37,083 57,034 68, , ,091 Total debt S/. 1,265, , , ,522 2,575,447 Total debt US$ 370, ,475 95, , ,599 Debt by Segment Debt by Currency Real Estate 10% Engineering & Construction 40% Peso colombiano 4% Peso chileno 6% Real brasileño 1% Infrastructure 44% Technical Services 6% Dollars 32% Sol 57% 8

9 Final Remarks 3Q 2015 Results Presentation 9

10 Disclaimer Forward-looking statements This presentation contains forward-looking statements. Forward-looking statements convey our current expectations or forecasts of future events. These statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to differ materially from the forward-looking statements that we make. Forward-looking statements typically are identified by words or phrases such as may, will, expect, anticipate, aim, estimate, intend, project, plan, believe, potential, continue, is/are likely to, or other similar expressions. Any or all of our forward-looking statements in this presentation may turn out to be inaccurate. Our actual results could differ materially from those contained in forward-looking statements due to a number of factors, including, among others: global macroeconomic conditions, including commodity prices, and economic, political and social conditions in the markets in which we operate, particularly in Peru; major changes in Peruvian government policies at the national, regional or municipal levels, including in connection with infrastructure concessions, investments in infrastructure and affordable housing subsidies; social conflicts in Peru that disrupt infrastructure projects, particularly in the mining sector; interest rate fluctuations, inflation and devaluation or appreciation of the nuevo sol in relation to the U.S. dollar (or other currencies in which we receive revenue); our ability to continue to grow our operations, both in Peru and internationally; the level of capital investments and financings available for infrastructure projects of the types that we perform, both in the private and public sectors; competition in our markets, both from local and international companies; our ability to complete acquisitions on favorable terms or at all and to integrate acquired businesses and manage them effectively postacquisition; performance under contracts, where a failure to meet schedules, cost estimates or performance targets on a timely basis could result in reduced profit margins or losses and impact our reputation; developments, some of which may be beyond our control, that affect our reputation in our markets, including a deterioration in our safety record; industry-specific operational risks, such as operator errors, mechanical failures and other accidents; availability and costs of energy, raw materials, equipment and labor; our ability to obtain financing on favorable terms; our ability to attract and retain qualified personnel; our ability to enter into joint operations, and rules involved in operating under joint operation or similar arrangements; our exposure to potential liability claims and contract disputes, including as a result of environmental damage alleged to have been caused by our operations; our and our clients compliance with environmental, health and safety laws and regulations, and changes in government policies and regulations in the countries in which we operate; negotiations of claims with our clients of cost and schedule variances and change orders on major projects; volatility in global prices of oil and gas; the cyclical nature of some of our business segments; limitations on our ability to operate our concessions profitably, including changes in traffic patterns, and limitations on our ability to obtain new concessions; our ability to accurately estimate the costs of our projects; changes in real estate market prices, customer demand, preference and purchasing power, and financing availability and terms; our ability to obtain zoning and other license requirements for our real estate development; changes in tax laws; natural disasters, severe weather or other events that may adversely impact our business; and certain other factors disclosed in our registration statement on Form F-1 on file with the SEC. The forward-looking statements in this presentation represent our expectations and forecasts as of the date of this presentation. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this presentation. In light of the risks and uncertainties described above, the future events and circumstances discussed in this presentation might not occur and are not guarantees of future performance.

11 Contacts: Dennis Gray Febres Corporate Finance and Investor Relations Officer (511) Samantha Ratcliffe Leiva Deputy Investor Relations Officer (511)