Madrid, 17 may 2017

Elecnor raises its 2016 dividend by 5% compared with 2015

Madrid, 16 May 2016.- The General Shareholders' Meeting of Elecnor was held today and approved by a large majority the financial statements for 2016 and each of the proposed items on the agenda.

Jaime Real de Asúa presided over the event for the first time as Non-Executive Chairman of the Board of Directors and of its Executive Committee, an appointment which came into effect from 1 January 2017.
Today's General Shareholders' Meeting also approved the reelection of Rafael Martín de Bustamante as Director of the Company, at the proposal of the Board of Directors and on the basis of a favourable report from the Appointments and Remuneration Committee, for the statutory period of four years and with the category of Executive Director.

Dividends

The General Shareholders' Meeting approved the Board's proposed 5% increase in the dividend against 2016 earnings compared with the 2015 payout. The total dividend per share amounts to EUR 0.2758, of which EUR 0.0515 per share was paid last January as an interim dividend. The remaining EUR 0.2243 per share will be paid out on 14 June as a final dividend. 

2016

Elecnor obtained a consolidated net profit of EUR 68.5 million in 2016, an increase of 4.3% compared with the 2015 figure of EUR 65.7 million. Meanwhile, consolidated sales amounted to EUR 2,035 million, up 8.2% from EUR 1,881 million in 2015. These figures were announced at the General Shareholders' Meeting held today, Tuesday. 

The international market generated revenues of EUR 1,119 million, 55% of the total, while domestic revenues totalled EUR 916 million, accounting for 45% of the overall amount.

2017 outlook

Assuming a stable regulatory and fiscal backdrop, the Group expects to maintain the solid and steady growth trajectory of recent years, supported by a solid backlog worth EUR 2,339 million, of which EUR 1,917 million corresponds to international orders (82%) and EUR 421 million (18%) to the domestic backlog.

Net financial debt

The Group attaches the utmost strategic importance to prudent financial management. The capital structure is defined by this commitment to solvency and the goal of maximising shareholder remuneration. 

As a result, Elecnor ended 2016 with net corporate financial debt of EUR 272 million, 3% lower than the 2015 figure of EUR 280 million. The Net Financial Debt/EBITDA ratio for the Restricted Group was 2.04%, well below the limits set in the covenants for the syndicated facility.

The Elecnor Group's normalised EBITDA totalled EUR 291.7 million, up 6.7% compared with 2015. Consolidated EBITDA amounted to EUR 244.3 million, an increase of 8.9% year on year.

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