Q2 2024 Aenza SAA Earnings Call Transcript
Key Points
- Aenza SAA (LIM:AENZAC1) confirmed a capital increase of up to $55 million, which is a significant milestone in their strategic growth plan.
- The company has successfully raised over $100 million in previous capital increase processes and expanded their letter of credit lines by $200 million.
- Consolidated revenues increased by 4.3% compared to the second quarter of 2023, driven by higher production volumes in key projects.
- Gross profit increased by 13.4% in the second quarter of 2024, attributed to better results in the energy sector and higher traffic in infrastructure.
- Aenza SAA has doubled its ESG score since 2021, reflecting a strong commitment to sustainability and market credibility.
- Net financial expenses increased by 91.8% in the second quarter of 2024, primarily due to financial interest from corporate bonds and other financial obligations.
- The company reported a consolidated net loss of PEN66.9 million in the second quarter of 2024, with a net margin declining to minus 3.4%.
- Debt increased by 12% compared to the end of 2023, mainly due to the issuance of a corporate bond.
- Some approvals for the reorganization process are still pending, which could impact the company's strategic initiatives.
- The Mancoraland contract was excluded from the engineering and construction backlog, indicating potential project discontinuation.
Good afternoon and welcome to the Aenza second quarter of 2024 earnings conference call. At this time, all participants are in listen-only mode. And please note that this call is being recorded. After the presentation, we will open the floor for questions. At that time, instructions will be given as to the procedure to follow if you would like to ask a question.
Before we begin, I would like to remind all participants that today's call is for investors and analysts only. Therefore, questions from the media will not be taken. If you need assistance, please contact Aenza Investor Relations team.
Please be advised that Aenza management comments today will include forward looking statements. It should be noted that a variety of factors could cause the company's actual results to differ materially from those anticipated results or expectations expressed in these forward-looking statements.
For a complete discussion of these risks, please refer to the disclaimer located in the presentation on page 13. The company assumes no obligation to update or revise any forward-looking
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