ACS salivates with the billionaire plan of investment in infrastructure of the United States.
ACS presented the results up to September on October 28. After the big headline of the 447 million euros of net profit, the full report shows the strong momentum of its infrastructure area in the United States. So much so that in the third quarter of this year alone it has achieved six new awards worth 2,390.5 million euros.
The country of opportunities fully honors this nickname in the case of the company chaired by Florentino Pérez. Of the entire ACS Group, the United States accounts for 37.5% of the order book (27,594 million euros). Almost four out of every ten euros generated by the business conglomerate come from the North American country.
This percentage represents a decrease of 5% compared to the same period in 2019 due, as explained by the company, “to the strong impact of the depreciation of the US dollar.” In local currency, the portfolio would have increased 2.4%.
The importance of North America (United States and Canada) for ACS takes on special relevance in the area of infrastructures. In his case, sales in this geographical area represent 62.7% of the total, reaching 13,361 million euros and 50.1% of the portfolio up to 30,706 million euros.
Nor should it be forgotten that infrastructure accounted for 78% (21,318 million euros) of the ACS Group’s turnover at the end of September, well above industrial services (17%) and services (4%).
The new projects
Of the main awards that the ACS Group won in the third quarter of this year, the construction of a new terminal with a building of more than 11,500 square meters with 30 gates at the San Diego International Airport (California) stands out, as as advanced. The contract, achieved through the joint venture formed by its subsidiaries Turner and Flatiron, is valued at 2,004 million euros.
A first phase is scheduled for the first quarter of 2025, and by then there will be 19 boarding gates. The next phase is scheduled to go live in 2027 and will have an additional eleven doors. In total, once the new terminal is completed, the San Diego airport will have 62 aircraft access points.
In addition to the construction of the new terminal at the San Diego Airport, Grupo ACS has signed another four awards in the United States between July and September to add the mentioned 2,390.5 million euros. Without leaving the aeronautical sector, the Spanish company has won the contract for the renovation of terminals A, B and C of the Denver Airport (Colorado) for 182 million euros.
In Austin (Texas), Grupo ACS will renovate the Austin State Hospital (ASH) building for 126 million euros. The other two projects are civil works. Specifically, the design and construction of I-90 and eight bridges in Southborough and Westborough (Massachusetts) for 41 million euros and the reconstruction of the interchange on US 27 and SR 60 in Polk County (Florida) for 37 , 5 million euros.
ACS in the United States
The ACS Group’s history in North America dates back to 2005, when Dragados, one of the group’s companies, opened its first offices in New York and created its American subsidiary Dragados USA. Only three years later it had already won the award of 2.9 billion dollars in contracts.
Furthermore, in less than 15 years, Dragados and its affiliates in the United States have achieved remarkable business figures: more than 2,500 employees, an active presence in 15 states, and projects completed for more than 6.5 billion dollars. Currently, contracts in progress total more than 15,000 million dollars with a portfolio close to 7,000 million.
Another of the group’s presences in North America is through Turner, belonging since 1999 to the German Hochtief, a subsidiary of ACS. Founded in 1902, it is the largest general contractor in the US and a market leader in several important fields including health, education, commerce, sports, aviation, pharmaceutical, retail, and green building.
To get an idea of its relevance, he has built many iconic projects in the United States, including the SoFi Stadium (the largest stadium in the National Football League), the expansion of the Javits Center in New York (the busiest convention center USA) and terminals at some of the busiest airports in some countries including Los Angeles, New York, Chicago and Denver.