Elecnor posts a 4.1% increase in net profit to EUR 54.2 million

Elecnor reported a consolidated net profit of EUR 54.2 million for the first nine months of 2018, up 4.1% from EUR 52.1 million for the same period a year earlier. This growth was underpinned by the strong performances of the Infrastructure and Concessions businesses, the Group's two core mutually-enriching business areas.

At 30 September, Elecnor's consolidated sales totalled EUR 1,586.6 million, similar to the figure for the same period a year earlier of 1,585.4 million. Of total sales, 57% was achieved in international markets and 43% in the domestic arena.

The strong showing at international level is largely due to the activity of the Group's US subsidiary Elecnor Hawkeye, the construction of a wind farm in the Dominican Republic and two biomass plants in Portugal and the contribution of its wind farms in Australia. All complemented by the larger sales posted by the Infrastructure business in the domestic market, in particular in sectors such as telecommunications and power distribution.

The Spanish Concessions business saw its sales increase thanks to the strong production data of Spanish wind farms and the start-up of the revamped Malpica wind farm. The Concessions business outside Spain also posted improved sales year-on-year largely as a result of the start-up of the Charrua-Ancoa and Cantareira transmission lines in Chile and Brazil respectively.

Backlog

At 30 September, the backlog stood at EUR 2,226 million, an increase of 3% from EUR 2,160 million at the end of 2017. Of this total, 78% (EUR 1,729 million) are international and the remaining 22% (EUR 497 million) domestic projects.

With a solid order backlog, the Elecnor Group is maintaining its overall 2018 target of surpassing last year's results.