Acciona’s Net Profits Down 68% Over Last Year

Posted by NAW Staff on July 30, 2012 No Comments
Categories : FYI

Wind turbine manufacturer Acciona's attributed net profit in the first half of this year totaled 80 million euros, 67.7% less than the 248 million euros obtained in the first half of 2011, the company has reported.

Acciona's earnings before interest, taxes, depreciation and amortization (EBITDA) in the first half of the year totaled 667 million euros – a 7.2% increase – and revenues rose 8.6% to 3.35 billion euros. The company's Energy business posted an EBITDA of 569 million euros (83.7% of group EBITDA), and revenues of 1.07 billion euros.

Gross capital expenditure in the first half of the year totaled 342 million euros, 40% less than in the same period of last year. Most new investment was channeled to the Energy division (194 million euros) and Infrastructure division (154 million euros, mainly concessions).

This investment, along with dividend payouts and the impact of marking to market the value of debt hedging derivatives, increased its net debt to 7.46 billion euros, a 6.7% increase over December 2011.

Acciona Energy's revenues totaled 1.07 billion euros, while EBITDA totaled 569 million euros. Revenue growth in the division was the result of the installation of 351 MW over the past 12 months, as well as higher national and international wind load factors, both of which offset the reduced hydropower activity in Spain over the period.

At the end of June, Acciona's installed capacity totaled 8.255 GW, of which 5.818 GW were national and 2.437 GW were international. Acciona's wind power capacity totaled 6.965 GW.

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