Elecnor, the Spanish infrastructure, energy and telecommunications group improved its results in 2019 after achieving a net profit of 126.4 million and sales of 2,453 million, representing a growth of 9%.

The international business represents more than 52% of total sales, while the national business grows by 18.3%. 

By segments, the Infrastructure Business reached sales of 2,279.5 million euros, up by 8.8% over the previous year, while revenues in the Concession Business grew to 190.8 million, which represents an increase of 20.3% compared to 2018. The growth in terms of activity has been achieved due to the good performance of both businesses. 

Infrastructure has improved its figures on the back of: a) the leadership in services activities in the national market for large operators, mainly electricity and telecommunications, b) the construction of power transmission lines in Brazil, c) the growth of operations in Africa thanks to the participation in different construction projects, d) the new projects in Norway, e) the photovoltaic activity in the Dominican Republic and f) the development of wind farms in Panama, Jordan and Chile.

The positive development of the Concession Business is due to: a) the greater electricity generation of the national wind farms; b) the growth of the transmission business supported by the new projects acquired last year; c) the activities to promote renewable energy; and d) the improved performance in terms of revenues from solar thermal plants.

In 2019 the Group's Consolidated Net Profit reached 126.4 million euros, driven by the positive accounting impacts as a result of the alliance between Elecnor and APG for the joint management of the Celeo Concesiones Group. Besides this non-recurring accounting impact, it is worth noting the good performance of the businesses that make up Elecnor Group in its ordinary course of business. 

EBITDA, without considering extraordinary corporate operations, amounted to 265 million euros, representing a growth of 6.8% compared to the previous financial year. 

Most relevant corporate operations of 2019

In late 2019, the Elecnor Group signed an agreement with the Dutch fund APG to expand its strategic alliance and jointly control Celeo Concesiones e Inversiones. This agreement will enable the development and investment in energy transmission and renewable energy projects jointly, with the exception of wind projects. This alliance, which closed the deal on 17 December 2019, includes a commitment made by both parties to invest 400 million in capital, over the next five years, for new projects, which will undoubtedly represent a growth lever for both the concession business as well as for the infrastructure business of the Elecnor Group. 

On the other hand, the Group maintains a cost containment and control policy that is currently reinforced by the development of several digitisation projects to improve the efficiency of business processes, some of which were implemented last year and from which returns are expected in the short term.

A solid backlog

The backlog of signed contracts that are expected to be executed within the next 12 months amounted to EUR 2,222.7 billion (which represents a growth of 4.5% with respect to the closing of 2018). Of this figure, 75% of the backlog corresponds to the foreign market.

With the development of its business in 2019, Elecnor proves yet another year that it continues to be a benchmark in the sectors in which it operates within the national market and, in addition, continues to strengthen the internationalisation process of activities.


Elecnor is aware of the importance of its actions on people and the environment in which it operates. For this reason, our objective is to maximise positive impacts while minimising negative ones on society and the environment, throughout our value chain, through ethical and transparent behaviour. We have established a number of commitments that guarantee the well-being of people and the environments with which we are in contact:


Occupational health and safety at the heart of the business

We promote equality and diversity

9.4% increase in the Elecnor team

15.7% increase in women on the workforce


Climate Change Strategy

AENOR CO2 Environment Certificate verified according to ISO 14064-1

The ratio of emissions generated per hour worked decreases by 13.6%

27.8% reduction in carbon footprint in five years

Higher score in “Climate change management” in the CDP international ranking


Elecnor, Signatory Partner of the UN Global Compact

SDG allies

Elecnor Foundation

Corporative volunteering

Dialogue with local communities

Good Governance

The highest ethical standards

Zero tolerance towards malpractices

Information transparency

Approval of a new Policy of Communication and Engagement with Shareholders, Investors and Other Stakeholders. 

UNE-ISO 37001 of Anti-bribery management systems 

UNE 19601 Management system for criminal compliance


The Spanish infrastructure, energy and telecommunications group Elecnor, has been awarded a contract for 86 million euros to build a green Combined Heat and Power (CHP) plant in the Belgian city of Ghent. This is the first contract the company has won in Belgium.

The plant is promoted by the Gentse Warmte Centrale (GWC), a society set up for this project by Belgian Eco Energy (BEE)—a Belgian energy company specialised in the production and supply of locally generated renewable energy—and the British fund manager Equitix.

The plant will have an electrical generation capacity of 19.9 megawatts (MW) by burning locally sources non-recyclable demolition wood. The facility will be located in a former coal terminal in the port of Ghent (North Sea Port), one of the most dynamic in the country. In addition, the project includes the production of steam to service a nearby industrial company.

During the implementation of this project, Elecnor will carry out all the geotechnical and topographical studies required, as well as the engineering work. In addition, the contract includes all construction work, such as demolition, earthmoving, piling and building, together with electrical and mechanical assembly.

The works on the CHP plant in Ghent, which are expected to take about 2 years, will have a significant economic impact on the city, as it will lead to the creation of up to 300 temporary jobs and about 35 permanent jobs. This contract joins the portfolio of biomass projects that Elecnor has undertaken in recent years, including the Viseu and Fundao facilities in Portugal.

The wide diversification of the businesses in which it operates has allowed Elecnor to consolidate itself on an international level and to find new opportunities in a highly mature and competitive market such as Europe. In this respect, the company has recently been awarded the electrification of over 730 km of railway lines in Lithuania, a strategic project for the country’s railway network valued at over 350 million euros. In Italy, Elecnor has been deploying optical fibre (FTTH) for over two years, specifically in the city of Novara, with Enel Open Fiber, an Enel subsidiary. Moreover, IQA, the Elecnor Group's subsidiary in the UK, has won the contract for 66 million euros to deploy the United Kingdom’s fibre optic network together with a local company. 


O grupo espanhol de infraestruturas, energia e telecomunicações Elecnor foi adjudicado com a construção chave na mão do parque solar Girasol pela Empresa Generadora de Electricidad Haina (EGE Haina). O parque estará localizado no município de Yaguate, na província de San Cristóbal. Ele terá uma capacidade de 120 MW de potência máxima e sua produção será destinada para o Sistema Eléctrico Nacional Interconectado (SENI).

Essa nova usina de produção fotovoltaica será a maior do país e aumentará a capacidade dos projetos solares conectados ao SENI em 64%. O projeto será construído sobre um terreno de 220 hectares onde a radiação solar é superior à média na República Dominicana. Ele incluirá a instalação de 300.000 módulos fotovoltaicos, uma subestação de 150 MVA e uma linha de transmissão de 138 kV de 10 km de distância.

A Elecnor na República Dominicana

A Elecnor conseguiu seu primeiro contrato na República Dominicana em 1980, estabelecendo-se definitivamente a partir de 1985. A experiência de 40 anos ininterruptos e o estabelecimento total no país permitem que a Elecnor possa executar seus projetos de forma direta sem a necessidade de recorrer a subcontratações externas. A Elecnor é uma empresa de referência no país em matéria de construção de linhas de distribuição e transmissão, ajudando na melhoria e na modernização da rede elétrica dominicana. Cabe destacar a recente construção do Parque Eólico Larimar II de 48 MW na província de Barahona, também para o cliente EGE Haina.