Elecnor posts a 4.4% increase in net profit and 6.5% sales growth in the first quarter
The recovery of the Spanish market continues apace, with growth of 13.2% and 27.5% in sales and the order book respectively
Madrid, 11 May 2016.- Elecnor obtained consolidated net profit of EUR 19.3 million in the first quarter of 2016, up 4.4% from EUR 18.5 million for the same period a year earlier. This growth was achieved thanks to the strength of the infrastructure business and, most notably, the contribution of large-scale projects related to renewable energies and the transmission and transformation of energy underway in Latin America (Dominican Republic, Brazil, Chile and Mexico) and Africa (Angola).
There were also strong contributions from domestic infrastructure activity and Elecnor's wind power business in Brazil and Canada.
Sales
At 31 March, revenue stood at EUR 416.2 million, up 6.5% from EUR 390.7 million in the first quarter of 2015.
Especially noteworthy was the 13.2% growth in domestic revenue, which accounted for 45.5% of the total, with international revenue accounting for the remaining 54.5%.
Key factors were the abovementioned strong showing from the domestic market and the execution of major international contracts, some of which were negatively affected by an average exchange rate of BRL 4.3 for EUR 1 compared with BRL 3.2 during the same period in 2015.
Backlog
Our order backlog totalled EUR 2,544 million at 31 March 2016. Of this amount, 80% - equivalent to EUR 2,025 million - corresponded to the international market. Meanwhile, the upturn in Spain is continuing, with the domestic backlog posting a 27.5% increase.
