Elecnor earns 2.9% more during the first semester with net results of 52.7 million
The portfolio of contracts awaiting execution increases by 20% on the first semester of 2011 and reaches 1,817 million euros, with particular vigour in the international markets
Madrid, 26 July 2012.- On closing the first semester of 2012, Elecnor obtained a consolidated net profit of 52.7 million euros, representing a 2.9% increase on the same period in 2011.
The factors that explain this advance include the greater contribution of the subsidiary companies that operate in the wind energy market and the electrical transmission line concessionary companies in Brazil, the improved margins in the projects executed by the mother company (above all abroad) and the maintenance of the contention policy and control of general expenses.
Turnover
Moreover, consolidated sales at the end of the quarter rose to 850.5 million euros, a figure that is 4.4% higher than the 814.3 million recorded the year before. As part of this general favourable behaviour, the foreign market is worthy of a mention, which grew by 6.7%, as opposed to an increase of 3.4% nationally. In this way, the participation of the foreign markets in the sales of the Group account for 33.2% of the total, while the Spanish participation is 66.8%.
There are three main reasons for the advances in sales: the greater business volume of the companies that operate in the foreign market: the greater contribution of the wind energy companies and the practical completion of the construction of three solar thermal energy projects in which Elecnor participates in our country, one in Badajoz and two in Alcázar de San Juan (Ciudad Real).
Contract portfolio
In relation to the contract portfolio pending execution, their evolution from the start of the financial year 2012 has been favourable with an overall growth of 20% on the same period in 2011, resulting in 1,817 million euros as of 30 June. Under these circumstances, most activity was seen in foreign markets, with the portfolio growing 27.2%, reaching 1,022 million. The Spanish market grew by 11.8%, up to 795 million euros.
Outlook for 2012
After recording the data for the semester, Elecnor maintains its outlook for 2012 of reaching similar turnover and results figures as those of 2011, although the impact that the new regulatory framework of the electrical system that the government intends to introduce will have to be assessed.