Isolux Corsan Consolidated Revenues Reach EUR1.58 Billion (+2%) in Q3 2015 Due to a Strong Backlog

Madrid (ots/PRNewswire) -

- EPC backlog keeps on growing, up to EUR7.0 billion YTD (+5%); the
figure represents almost three years of regular business activity

- Latin America concentrates 56% of the EPC business, followed by
Spain (15%), Asia (13%) and the Middle East and Africa (11%)

- Net corporate leverage, stable at 1.6 billion

- Net loss of EUR20 million in the first nine months of 2015

Isolux Corsan posted revenues of EUR1.58 billion in Q3 2015. The
figure represents an increase of 2% over the same period last year.
This positive evolution of the revenue is driven by the Company's
strong backlog as well as to a solid and growing international
activity. Isolux Corsan's backlog continues to evolve very
positively; at the end of Q3 2015 it amounted up to EUR6.99 billion
(+ 5%). The figure represents almost three years of regular business
activity.

(Logo: http://photos.prnewswire.com/prnh/20150129/727670 )

In addition, 83% of the backlog is not related to Isolux Corsan's
own concessions business. The Group has made a significant effort to
reduce down to 17% the weight of its own backlog, a level that
reflects not only Isolux Corsan's competitiveness by carrying out
mainly third party projects, but also the sustainability of its EPC
business as the Company does not need to invest in concessions to
keep growing.

New orders in the year amounted up to EUR1.79 billion. In the
third quarter, Isolux Corsan has been awarded significant projects
such as the construction of high-voltage lines between Kenya and
Ethiopia in a joint venture with Siemens (EUR170 million), of a
photovoltaic solar plant in Chile (EUR124 million) and transmission
lines and substations in India and Kuwait (EUR33 million).

Latin America remains as the main market for the Group and
accounts for 56% of the revenues generated by the EPC business,
followed by Spain (15%), Asia (13%) and the Middle East and Africa
(11%).

Year-on-year new orders decreased by 19%. The company foresees
reaching its annual budget, around EUR3 billion, provided no delays
in important ongoing bids. Isolux Corsan has been selected as
"preferred bidder" for the implementation of the Mecca subway, a
EUR900 million deal.

EBITDA until September totaled EUR115 million. The figure reflects
a non-recurring negative impact related to the macroeconomic
situation in Brazil.

Isolux Corsan recorded a cumulative loss of EUR20 million in the
first nine months of 2015.

Net corporate level has remained stable, around EUR1.6 billion.
The Company intends to reduce leverage via certain divestments, with
the main strategic goals of adapting to new market conditions,
driving growth and improving competitiveness.

ots Originaltext: Isolux Corsan
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