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Cimic Group Ltd’s Profit Just Increased By 21%

Today, Cimic Group Ltd (ASX: CIM) revealed its financial results for the year to 31 December 2017.
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Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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Today, Cimic Group Ltd (ASX: CIM) revealed its financial results for the year to 31 December 2017.

Cimic is one of Australia’s leading contractor companies. It operates in several industries such as telecommunications, engineering, infrastructure, property, mining, resources and last but not last environmental.

The results below are comparing against the full year to 31 December 2016. Here are some of the main points:

  • Revenue increased by 23.7%
  • Day to day profit, or EBITDA, increased by 38.1% (what the heck does EBITDA mean?)
  • Profit per share increased by 22.6%
  • Dividend increased by 23%
  • Net cash (cash minus debt) increased by $500 million to $910 million

Cimic said it benefited from having a diverse array of operations in various sectors which all built profit growth during FY17.

The company has a number of well-recognised global subsidiaries such as Thiess, Sedgman, UGL and CPB. It added the UGL business in the last year, which is why the services segment was able to substantially grow.

Cimic has provided profit guidance of $720 million to $780 million. This equates to profit growth of 3% to 11% for FY18, subject to market conditions according to management.

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