Intermoney | The authorities of Dallas (Texas) have awarded the alliance formed by ACS (Buy, PO €56) through its subsidiary Turner and Aecom Hunt the construction of the Kay Bailey Hutchison Convention Center, a pharaonic work with a budget of around €3,250 million. The two partners, through the joint venture Trinity Alliance, will be responsible for supervising all the services associated with the construction and demolition for the expansion of the current convention centre in the Texan city, a facility that aims to become the heart of Dallas’ business, generating more than $1 billion in turnover from events from 2029, the date on which it is scheduled to open.
Assessment: Good news for ACS, which confirms with this contract that its main revenue market is the US. At the end of 1Q25, the Group had a total backlog of €91bn, having grown 13% year-on-year since 2023. In the last quarter alone, ACS won contracts worth more than €15bn. The Turner unit, meanwhile, increased its EBITDA by 71% to €184m, including an increase in margins of around 50bp. The Group, which also includes businesses such as Cimic and Dragados, grew its EBITDA by 52% to €699m, benefiting from the consolidation of the Thiess mining unit.
