Sales top 1.278 billion, a 7% increase

Madrid, 14 November 2011.- In the first 9 months of the financial year, Elecnor recorded consolidated net profits of 86.1 million euros. This figure represents a 12.6% increase when compared to the 76.5 million recorded during the same period in 2010.

The positive development of overseas operations in its wind energy subsidiary, with particularly significant implementation outside of Spain in Brazil and Canada, contributed to this increase. Another contributing factor was the entry into service of a new 10 MW photovoltaic solar farm under a concession agreement, located in Valdecaballeros (Badajoz), as well as increased profitability from electric transmission line concessionaires owned by the company in Brazil.

Alongside these ordinary factors, the increased profit was also due to the extraordinary impact of the reorganisation of some of the aforementioned Brazilian concessionaires, carried out last June. The combined effect of two sales operations and a third purchase operation left Elecnor with consolidated net gains of 5.1 million euros. Without these, consolidated net profit as at 30 September would have reached 81 million euros, a 5.9% increase on the first 9 months in 2010.

Moreover, consolidated sales at the end of the third quarter rose to 1.278 billion euros, a figure that is 7% higher than the 1.194 billion recorded at the end of the same period in 2010.

Various factors contributed to this growth, including these noteworthy aspects:

• Moderate improvement on Elecnor's traditional markets (mainly infrastructures)

• Development of the three thermo-solar projects under construction in which Elecnor holds shares in Spain: one in Badajoz and two in Alcázar de San Juan (Ciudad Real)

• Consolidation of sales figures from the companies Audeca and Teytel, acquired by Elecnor last financial year and whose contribution in the first 9 months of 2010 was only partial

• The complete consolidation of 2 Brazilian concessionaires, which are now 100% owned by Elecnor under the framework of the aforementioned company reorganisation: LT Triángulo and Vila do Conde

At the close of the third quarter, the portfolio of contracts pending execution rose to 1.526 billion euros, an increase of 110 million when compared to the portfolio in place at the beginning of the financial year (+8%). The primary source of this growth stems from the external market, where the portfolio as at 30 September grew by 17.7% and reached 780 million euros, a figure exceeding 34 million when compared to the portfolio on the internal market.