Elecnor increased its net profit by 2.6% in the first quarter to 22.6 million euros

Madrid, 9 May 2012.- Elecnor earned a net profit of 22.6 million euros in the first quarter of the year. This figure represents an increase of 2.6% in relation to the same period last year.

The improvement of the net result occurred thanks to more activity in Elecnor's traditional markets (primarily infrastructure), the growing contribution of the photovoltaic subsidiary Atersa, reflecting its international expansion, and the execution of several contracts abroad, especially in Latin America.

Turnover

Moreover, consolidated sales at the end of the quarter rose to 410.6 million euros, a figure that is 5.9% higher than the 387.8 million recorded the year before.   

This increase is based on factors such as the increase of projects developed abroad, more activity of its traditional business base in Spain, consolidation via the overall integration of the Brazilian concessionary company Vila do Conde Transmissora de Energía and the final stage construction of the three thermosolar plants Elecnor is working on in Spain (one in Badajoz and two in Alcázar de San Juan, Ciudad Real).

Broken down according to market, international sales have grown by 4%, while Spanish sales have increased by nearly 7%.  

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 8.3%, resulting in 1,947 million euros as of 31 March. Under these circumstances, most activity was seen in foreign markets, with the portfolio growing 11.9%, reaching 1,089 million. The Spanish market grew by 4%, up to 858 million euros.

Outlook for 2012

After recording the data for the quarter, Elecnor still has the same outlook of reaching figures like those of 2011, both in relation to turnover and results, for the financial year 2012.