July, 14th 2005
ACS Group celebrates 15 years on the Spanish Stock Exchange
In the last twelve months, ACS Group shares have risen by 76%
The chairman of ACS Group, Florentino Pérez, went to the Madrid Stock Exchange to the market opening, in commemoration of the fifteenth anniversary of the listing of the construction and services group on the Spanish stock exchange.
ACS Group is the largest company by market capitalisation in the construction and services sector in Spain and the third largest in the world. Its market capitalisation, which on 13 July 2005 amounted to over 8,640 million euros, is 24 times that of Ocisa, the original group company, at its IPO in 1990. Subsequently came the mergers with Construcciones Padrós, Ginés Navarro, and Grupo Dragados, giving rise the current group setup.
From the IPO of Ocisa, at a price of 12,500 pesetas (equal to 6.26 euros, considering the two share splits that took place subsequently) to the historical high of 24.49 euros reached by ACS shares at yesterdays close, Group shares have seen their value increase by 3.9 times.
In the last twelve months, ACS Group shares have risen by 76%, and during the year to date their value has grown by 45%, making it one of the best performers on European stock exchanges.
Group sales since 1990 have multiplied by 15 to over 11,500 million euros this year; net profit has multiplied by 47 to over 560 million euros forecast in 2005; and revenues from activities outside the construction sector have multiplied by 18, due to reach approximately 6,300 million euros at the end of the year.