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Graña y Montero managed to reduce its total debt compared to 2017

This reduction is the result of a strategic plan being implemented since 2017, and adds to our efforts towards the financial stability of the company. 

The Graña y Montero Group was able to bring down its total debt to US$ 735, 630 million dollars as of the third quarter of this year?a figure which is 11% below that recorded at the close of 2017?thanks to the strategic debt reduction plan being implemented since last year.

Sales, on the other hand, totaled US$ 1,133 million dollars, which means a 2.3% increase compared to the same period last year. In addition, Backlog also recorded a 7% increase, amounting to US$ 2,611 million dollars, including recurrent businesses. This recovery reflects our clients’ trust in the quality of our services and the added value we give to our projects. 

Finally, gross profit totaled US$ 180 million dollars, 39% more compared to the same period last year, whereas net profit amounted to US$ 4.8 million de dollars, a figure which is 93.5% below that of the same period last year. The difference in net profit is mainly due to a drop in revenues in the area of Engineering and Construction and Services, as well as to a lower profit from sales of assets as compared to last year. Nonetheless, it is important to highlight the significant 155% increase in net profit compared to June 2018, when a loss of US$ 8.7 million dollars was recorded.

“All this progress adds to the financial stability of the company and is a confirmation that the changes made in the organization have been well-received by our stakeholders. We are gaining our clients’ trust back through our actions”, pointed out Luis Díaz Olivero, Corporate General Manager at Graña y Montero Group.