ACCIONA obtained €186 million in attributable net profit in the first half of 2018 (+132.1% year-on-year) due both to business growth and to the capital gains on the divestment of Concentrated Solar Power (CSP) plants in Spain and of Trasmediterranea. Excluding capital gains (€85 million), ordinary profit amounted to €100 million (+25.6%).
Earnings before interest, taxes, depreciation, and amortization (EBITDA0 increased to €618 million (+6.7%) due to the combined effect of growth in its energy (+6.7%) and infrastructure (+8.3%) divisions, the latter boosted by 31.5% growth in construction EBITDA. In comparable terms of the consolidation perimeter, EBITDA growth would have been around 13%.
Revenues totaled €3.53 billion (+4.1%) in the first half of 2018. Good performance by the energy division (+17.6%) was due to higher output in Spain and other countries.
In terms of business performance, the energy division saw revenues rise to €1.02 billion (+17.6%) while EBITDA amounted to €392 million (+6.7%). EBITDA in the Spanish business grew (+8.9%) due to higher output in the period (+13%) and despite a slight decline in wholesale prices and the negative impact of the regulatory banding mechanism.
EBITDA in international power-generation business increased by +4.8% as a result of higher production and better pricing. The addition of 359 MW of wind capacity in Mexico (183 MW), Australia (132 MW), Canada (38 MW), and India (6 MW) amply offset the impact of divesting the CSP plants (250 MW). Consolidated output totaled 9,788 GWh (+12.3%).
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