• GRAÑA Y MONTERO GROUP WAS RANKED 4TH AMONG THE 100TH PERUVIAN COMPANIES WITH BEST CORPORATE REPUTATION READ MORE
  • GRAÑA Y MONTERO GROUP IS ONE OF THE MOST ADMIRED COMPANIES IN PERU READ MORE
  • FIFTH EDITION OF THE GRAÑA Y MONTERO AWARD TO PERUVIAN ENGINNEERING RESEARCH READ MORE
  • GRAÑA Y MONTERO ANNOUNCES NEW INVESTMENT IN CHILE READ MORE
  • GRAÑA Y MONTERO LISTS ON THE NEW YORK STOCK EXCHANGE READ MORE
  • GRAÑA Y MONTERO GROUP, CELEBRATING 80 YEARS OF HISTORYREAD MORE
  • GYM AND VIVA GYM, COMPANIES OF THE GRAÑA Y MONTERO GROUP, ARE CONSIDERED AMONG THE MOST APPEALING PLACES TO WORK. READ MORE
  

Languages

Search Investor Relations

 

Investor Contacts

Av. Paseo La República
4675
Lima 34, Perú
Call Center 51(1) 213-6565
relacion.inversionistas@gym.com.pe

Grupo Graña y Montero reduced its debt by 21%

The year 2018 was formally closed, in which the company prioritized financial strengthening focusing on the development and consolidation of the business for 2019

Saturday, February 2, 2019 2:52 am EST

Dateline:

LIMA, Peru

Public Company Information:

NYSE:
GRAM
PE:
GRAMONC1
"The important financial strengthening process undertaken during 2018 and which we hope to conclude at the end of the first quarter of the year 2019, allows us to be prepared for the great challenges that our clients will demand for us this year"

LIMA, Peru--(BUSINESS WIRE)--Grupo Graña y Montero reported financial statements for the Fourth Quarter of 2018 in which it was possible to reduce the total debt of the company by US$ 174 million (-21%) to US$ D 654.67 million, thanks to the successful execution of the debt reduction plan.

Regarding revenues, the Company reached a total of US$ 1,243 million, which represents a decrease of 2% against the result of the previous year. The difference in sales is mainly explained by the decrease in revenues in the Engineering and Construction area (-16%) and to a lesser extent in the Real Estate area (-3%).

This figure, in line with accumulated Backlog plus Recurring Business of US$ 2,105 million, represents almost two years of sales, due to the new contracts awarded in 2018 as the mining projects from Quellaveco (Peru), Minera Escondida (Chile) and Mina Justa (Peru) and does not include recently announcement of Quebrada Blanca Phase 2 Project.

Finally, regarding the results of December 2018, the Company reported a loss of US$ 21.9 million, due to the provision included by the potential civil compensation in favor of the Peruvian State by the two Group companies that have been incorporated as civilly responsible third parties, according to the terms of Law No. 30737 and its Regulations, approved by DS No. 096-2018-EF.

For the Chief Executive Officer of the Group, Luis Díaz Olivero, the company will begin 2019 with a greater focus on the development of its three business units: "The important financial strengthening process undertaken during 2018 and which we hope to conclude at the end of the first quarter of the year 2019, allows us to be prepared for the great challenges that our clients will demand for us this year," he said.

Contact:

Paola Pastor, +51 951 211 549

Business Wire InvestorHQ SM