Elecnor posts a 4% increase in profit
At 30 June, net profit stood at EUR 35.4 million and sales totalled EUR 1,059.2 million. The backlog stood at EUR 2,329 million
Elecnor obtained a consolidated net profit of EUR 35.4 million in the first half of 2018, up 4% compared with the same period a year earlier. This increase was driven by the strong showings of the Group's Infrastructure and Concessions businesses.
First-half sales totalled EUR 1,059.2 million, in line with the figure for the same period in 2017. The Infrastructure and Concessions businesses both performed well, with a noteworthy 10.3% growth in domestic sales driven by telecommunications and distribution activities. At international level, particularly noteworthy are the operations of the Group's US subsidiary Elecnor Hawkeye, the construction of the wind farm in the Dominican Republic and two biomass plants in Portugal and the start-up of the Charrúa-Ancoa transmission line in Chile.
By geographical area, the international market accounted for 56% of total revenues and the domestic market the remaining 44%. These figures underline the Elecnor Group's commitment to international markets as the driver of its growth over the coming years, whilst at the same time cementing its leadership of the domestic market.
EBITDA amounted to EUR 142.9 million, compared with EUR 151.4 million in the first half of 2017, mainly as a result of the impact of the depreciation of the Brazilian real against the euro on the Group's results in Brazil.
At 30 June, the backlog stood at EUR 2,329.4 million, an increase of EUR 168.7 million compared with the backlog of EUR 2,160.7 million at the end of 2017.
After these first-half results, Elecnor still expects to surpass its earnings