INFRASTRUCTURE AND CONSTRUCTION

 

Carso Infraestructura y Construcción
Carso Infraestructura y Construcción’s sales decreased 17.4% in the year to Ps.15,553 million, compared to the Ps.18,818 million figure reported in 2013. This effect is mainly explained by the 64.5% drop in sales in the chemical and oil industries recorded by the Manufacturing and Services sector, where a lesser activity involving land drilling and platform construction contracts took place during the year.

The other sectors within the division, such as civil construction, pipeline installation, infrastructure and housing, grew 53.8%, 8.5%, 7.2% and 39.3%, respectively. In civil construction, it is important to note that growth came from revenues obtained from the shopping malls Plaza Carso and New Veracruz, as well as from the expansion of Grupo Sanborns.

The Infrastructure business observed progress of work in the Eastern Discharge Tunnel, Atotonilco’s Wastewater Treatment Plant, the Acapulco tunnel, three highway bypasses, and the Caminero second-floor viaduct. In regard to the installation of pipelines, installation works of facilities for telecommunications companies in Mexico and Latin American countries continued.

Operating income and EBITDA decreased 23.2% and 19.1%, respectively, during the year, while margins stood at 13.9% and 17.5%. These effects derived from the mixture of projects executed, as well as the drop observed in sales to the chemical and oil industries in the Manufacturing and Services sector as previously mentioned.

Net controlling interest income was Ps.3.327 million, compared to the Ps.2,716 million figure recorded in 2014.

The backlog of Carso Infraestructura y Construcción totaled Ps.18,319 million on December 31, 2014, which represented a 45.2% increase over the figure reported in the same period of the previous year. The amount does not include resources corresponding to projects developed jointly with other companies, which stood at Ps.2,043 million in 2014 and takes into account the Atotonilco wastewater treatment plant and the Mitla-Tehuantepec highway.

Finally, capital expenditures undertaken by Carso Infraestructura y Construccion were Ps.245 million in 2014. These resources were used for major maintenance of machinery and heavy construction equipment, as well as for equipment related to drilling activities, among other investments.

Sincerely,

Antonio Gómez García
Chief Executive Officer

 

 

 

 

 

Capital expenditures at Carso Infraestructura y Construccion totaled Ps.245 million in 2014.