MADRID (dpa-AFX) - Spain's Grupo ACS, or Actividades de Construcción y Servicios, S.A., reported a net loss of €1.9 billion for the full year 2012, compared to net profit of €962 million for the full year 2011.
The 2012 results were affected by several extraordinary effects related to the investment of the Group in Iberdrola.
Eliminating all the extraordinary effects in both periods, comparable net profit of Grupo ACS fell 9.9% to € 705 million in 2012 from €782 million in 2011.
EBITDA for 2012 rose 33.3% to €3.1 billion, while EBIT grew 18.5% to €1.6 billion.
Full year 2012 sales rose 34.9% to €38.40 billion from €28.47 billion in 2011.
For the fourth quarter, the company reported a net loss of €828 million, compared to net profit of €223 million in the year-ago quarter.
Comparable net profit for the fourth quarter more than doubled to €150 million from €76 million a year ago.
EBITDA for the quarter fell 2.3% to €768 million, while EBIT grew 4.3% to €392 million.
Fourth quarter sales declined 3.3% to €9.93 billion from €10.26 billion in the fourth quarter of the prior year.
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