Revenue during the year dropped 22.69 percent to $6,055.29 million from $7,832.43 million in the previous year. Gross margin for the year expanded 159 basis points over the previous year to 10.56 percent. Total expenses were 95.79 percent of annual revenues, up from 95.68 percent for the last year. That has resulted in a contraction of 11 basis points in operating margin to 4.21 percent.

Operating income for the year was $254.87 million, compared with $338.42 million in the previous year.

The company has spent $416.37 million cash to meet investing activities during the year as against cash outgo of $555.71 million in the last year. It has incurred net capital expenditure of $154.03 million on net basis during the year, down 16.15 percent or $29.67 million from year ago.

Cash flow from financing activities was $65.75 million for the year, down 88.23 percent or $492.94 million, when compared with the last year.

Cash and cash equivalents stood at $621.02 million as on Dec. 31, 2016, up 12.10 percent or $67.01 million from $554 million on Dec. 31, 2015.

Debt moves up
Grana & Montero S.A.A. has witnessed an increase in total debt over the last one year. It stood at $2,907.06 million as on Dec. 31, 2016, up 12.88 percent or $331.62 million from $2,575.45 million on Dec. 31, 2015. Interest coverage ratio deteriorated to 1.57 for the year from 1.91 for the same period last year.