Acciona ended 1Q10 with an EBITDA (gross operating profit) of 275 million euros, a 43.9% improvement on the same period of 2009, owing to two main factors: the Group incorporated 2,540 MW in 2009 (comprising 2,078 MW of Endesa renewables assets and 462 MW installed organically), and increased production from Spanish assets offset an 18.4% dip in average wind power prices at home. The main contributor to Group EBITDA was Acciona Energy (75.4%), followed by Acciona Infrastructure (15.9%).
At end-1Q10, net profit derived from continuous activities increased by 17.4% reaching 39 million euros.
First-quarter revenues came to 1,524 million euros, 9.2% more than the figure for 1Q09, thanks mainly to a strong performance by Acciona Energy (+64.8%), which accounted for 26.4% of Group revenues. The infrastructure arm contributed 51%; Logistics, 10.8% and Urban Services, 10.4%.
Capital expenditure in 1Q10 amounted to 254 million euros, 9.2% more than the figure for the first free months of 2009: the figure includes 90 million euros earmarked for the organic growth of Acciona Energy’s activities; 71 million for the infrastructure division (concessions in the main) and 73 million for the logistics and transport services division, mainly for the purchase of a new cargo vessel.
Strong investment throughout the first three months of the year pushed net debt upwards to 7,667 million euros.
Operating data include a 3.2% dip in the infrastructure backlog, now at 7,015 million euros, mainly as a result of a 4% fall in civil works projects: although the portfolio for Spain shrank by 11%, this was offset by overseas projects which were up by 19%. Non-residential building also progressed, with a 9% increase.
Installed wind energy capacity amounts to a total of 6,230 MW, 35.7% more than 1Q09, and total installed capacity stands at 7,437 MW (+51.9%).
Following close of 1Q10, Acciona was awarded two important contracts. In March, the Company was selected to develop 306 MW of wind power in Mexico, and a month later it won a build and maintenance tender (worth 575 million euros) in Canada for the Calgary highway.