Elecnor posts a 4.5% increase in profit and 21.6% EBITDA growth in the first half

 

Madrid, 28 July 2017.- Elecnor obtained a consolidated net profit of EUR 34 million in the first half of 2017, up 4.5% compared with the same period a year earlier. This increase was achieved on the back of strong showings from the Group's two businesses, Infrastructure and Concessions, in particular in the international market. 

 

Normalised EBITDA totalled EUR 151.4 million compared with EUR 124.5 million in the first half of 2016, an increase of 21.6%.

 

Sales totalled EUR 1,058.1 million, up 18.3% from EUR 894 million for the same period a year earlier. Particularly noteworthy in the first half were new contracts in Chile, Australia and Portugal. In Chile and Australia, Elecnor won contracts worth USD 117 million and AUD 189 million respectively to build two solar PV plants. In June, Elecnor secured the USD 78 million contract to build two biomass plants in Portugal.

 

The factors behind this strong sales growth include the development of the Cantareira transmission line in Brazil, work on the construction of two solar PV plants in Chile and Bolivia, the combined cycle power plant under construction for the Comision Federal de Electricidad in Mexico, energy generation and transmission projects in Angola and the expansion of the wind farm which Elecnor is building for the Jordanian Energy Ministry.

 

The international market accounted for 60% of total sales in the first half and the domestic market for 40%. These figures underscore the Elecnor Group's focus on international markets as a driver of growth over the coming years.

 

After these first half results, Elecnor still expects to surpass its earnings and business volume in 2016 this year.

 

 

The order backlog at 30 June amounted to EUR 2,356 million. International orders amounted to EUR 1,911 million (81% of the total), while domestic orders totalled EUR 445 million, 19% of the total.

 

 

Download Results presentation First half 2017