Aenza, a regional corporation integrated and specialized in engineering and construction services, infrastructure, energy concessions, and real estate management, presented its results for the third quarter of 2021.
Sales at the end of 3Q2021 reached S/. 2,864.8 MM, 28.9% higher than the figure reported at the end of 3Q2020.
Likewise, Gross Profit increased 33.7% in 3Q2021, mainly due to the Energy business as a result of the increase in oil prices, in Norvial due to higher traffic, and in Cumbra Ingeniería due to higher productivity in its projects, increasing the margin from 9.6% to 9.9% in 3Q2021.
Administrative expenses at the end of 3Q2021 increased 16.9% vs. 3Q2020, reaching 5.0% of sales compared to 5.5% at the end of 3Q2020. The increase in general expenses was mainly due to Vial y Vives-DSD and Morelco. As a consequence, Operating Income increased in 3Q2021 compared to 3Q2020, with a margin of 4.7% in 3Q2021 vs. 2.5% in 3Q2020.
However, the consolidated Net Loss in 3Q2021 was S/ 103.5 MM. The net margin went from -2.5% in 3Q2020 to -3.6% in 3Q2020.
Consolidated Backlog (US$ 1,371 MM) plus Recurring Businesses (US$ 603 MM) total US$ 1,975 MM as of 3Q2021, which represents a Backlog + Recurring Businesses/Sales ratio of 2.0 years.
Of the total backlog as of 3Q2021, US$ 334 MM will be executed during 2021, US$ 609 MM during 2022, and US$ 429 MM in 2023. On the other hand, of the recurring business, US$ 58 MM in 2021, US$ 194 MM during 2022, and US$ 351 in 2023.
As of 3Q2021, 59% of the Infrastructure CAPEX corresponds mainly to rolling stock and infrastructure spare parts and 38% corresponds to investments in the Energy Business. As of 3Q2020, 73% of the Infrastructure CAPEX corresponds to investments in Lot IV and 22% is mainly related to rolling stock spare parts.
